External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Uno Minda’s numbers missed our Revenue/EBITDA/PAT estimates.</li><li>Revenue grew by 20% YoY but stood flat QoQ, a 5% miss (vs. our estimate), as benefits from lower commodity prices were passed on to customers and PV volume growth in the quarter was offset by the drop in 2W volumes.</li><li>The company’s EBITDA grew by 16% YoY, but it declined 6% on a QoQ basis and missed our estimates by 14%.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Uno Minda’s numbers missed our Revenue/EBITDA/PAT estimates.Revenue grew by 20% YoY but stood flat QoQ, a 5% miss (vs. our estimate), as benefits from lower commodity prices were passed on to customers and PV volume growth in the quarter was offset by the drop in 2W volumes.The company’s EBITDA grew by 16% YoY, but it declined 6% on a QoQ basis and missed our estimates by 14%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Uno Minda - Growth Drivers in Place; Maintain BUY

UNO Minda

Uno Minda - Growth Drivers in Place; Maintain BUY