India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ambuja-cements-ltd" target="_blank" data-smartkarma-citation="entities:14745:1" rel="noopener">Ambuja Cements (ACEM IN)</a> to Acquire Penna Cement for Rs. 10,422 Crore</li>
<li>
<a href="https://www.smartkarma.com/entities/puravankara-projects-ltd" target="_blank" data-smartkarma-citation="entities:15711:1" rel="noopener">Puravankara Projects (PURVA IN)</a> raising 1000 Cr via QIP and <a href="https://www.smartkarma.com/entities/vodafone-idea-ltd" target="_blank" data-smartkarma-citation="entities:15678:1" rel="noopener">Vodafone Idea (IDEA IN)</a> approved 2458 Cr Preferential allotment</li>
<li>Upcoming 53rd GST Council Meeting to Address Key Taxation Issues</li>
</ul>



Ambuja Cements (ACEM IN) to Acquire Penna Cement for Rs. 10,422 Crore

Puravankara Projects (PURVA IN) raising 1000 Cr via QIP and Vodafone Idea (IDEA IN) approved 2458 Cr Preferential allotment
Upcoming 53rd GST Council Meeting to Address Key Taxation Issues


#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST

<ul>
<li>Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga</li>
<li>Reliance entering into logistics infrastructure sector with its logistics park in Chennai</li>
<li>NTPC soon to launch its renewables arm IPO of 10,000 crore after elections</li>
</ul>


Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga
Reliance entering into logistics infrastructure sector with its logistics park in Chennai
NTPC soon to launch its renewables arm IPO of 10,000 crore after elections


#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>We met with the CFO of Ambuja Cements</li><li>The management outlined its various projects and how these would lead to its consolidated operating cost reduction by INR 530/MT to INR 3650/MT by FY28 (over Q4FY24)</li><li>Ambuja estimates major savings from energy cost reduction, followed by logistics and raw material costs decline, gradually till FY28</li></ul>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.

We met with the CFO of Ambuja CementsThe management outlined its various projects and how these would lead to its consolidated operating cost reduction by INR 530/MT to INR 3650/MT by FY28 (over Q4FY24)Ambuja estimates major savings from energy cost reduction, followed by logistics and raw material costs decline, gradually till FY28Content 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.

Ambuja Cement: Focused on Expansions and Cost Reductions. Maintain ADD

<ul><li>Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)</li><li>During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants</li><li>Weak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)</li></ul>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.

Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plantsWeak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)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.

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

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.

<ul><li>Given the company’s superior positioning in key markets of North, West, and East India and recent acquisition of units in South India along with cost-saving initiatives it has undertaken and synergies with other group companies of Adani, growth momentum is expected to continue moving ahead.</li><li>Furthermore, factoring in the government’s keen focus on developing infrastructure and low-cost affordable housing, increasing private capex and robust real estate damand we expect ACL to improve its performance going forward.</li><li>We expect the company to grow its Volume/Revenue/EBITDA/APAT at a CAGR of 12%/11%/28%/18% over FY23-FY26E</li></ul>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.

Given the company’s superior positioning in key markets of North, West, and East India and recent acquisition of units in South India along with cost-saving initiatives it has undertaken and synergies with other group companies of Adani, growth momentum is expected to continue moving ahead.Furthermore, factoring in the government’s keen focus on developing infrastructure and low-cost affordable housing, increasing private capex and robust real estate damand we expect ACL to improve its performance going forward.We expect the company to grow its Volume/Revenue/EBITDA/APAT at a CAGR of 12%/11%/28%/18% over FY23-FY26EContent 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.

Ambuja Cements Limited - EBITDA Miss on Lower Realization

India

Ambuja Cements Limited manufactures cement in India. The Company owns specially designed ships and terminals for bulk transportation of its products. Ambuja Cement sells most of its products domestically, but also has a subsidiary that markets the Group's items in Sri Lanka.

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Ambuja Cements (ACEM IN)

#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST

Ambuja Cements to acquire Penna Cement, Puravankara raising 1k Cr via QIP, VI approved 2458 Cr Preferential allotment, upcoming GST Council...

Sudarshan Bhandari

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

Ambuja Cement: Focused on Expansions and Cost Reductions. Maintain ADD

Ambuja estimates major savings from energy cost reduction, followed by logistics and raw material costs decline, gradually till FY28

HDFC Securities

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants. Weak pricing across markets...

HDFC Securities

Ambuja Cements Limited - EBITDA Miss on Lower Realization

The stock is currently trading at 25x and 21x FY25E/FY26E EV/EBITDA. We maintain our HOLD rating on the stock with a TP of Rs 590/share, (incl....

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST

​Ambuja Cements to acquire Penna Cement, Puravankara raising 1k Cr via QIP, VI approved 2458 Cr Preferential allotment, upcoming GST Council...

Sudarshan Bhandari

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

​Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

Ambuja Cement: Focused on Expansions and Cost Reductions. Maintain ADD

Ambuja estimates major savings from energy cost reduction, followed by logistics and raw material costs decline, gradually till FY28

HDFC Securities

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants. Weak pricing across markets...

HDFC Securities

Ambuja Cements Limited - EBITDA Miss on Lower Realization

The stock is currently trading at 25x and 21x FY25E/FY26E EV/EBITDA. We maintain our HOLD rating on the stock with a TP of Rs 590/share, (incl....

Axis Direct

Ambuja Cements to acquire Penna Cement, Puravankara raising 1k Cr via QIP, VI approved 2458 Cr Preferential allotment, upcoming GST Council...

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.