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.

Thematic (Sector/Industry)

<ul><li>Asian Paints: APNT’s consolidated revenue grew 6.3% YoY to INR 85.3bn (HSIE: INR 80.5bn)</li><li>Decorative clocked 10.9/6% volume/value growth, driven by intensified brand-building, step-up in product regionalization, widening B2B net, and early festive demand</li><li>Extended monsoon did partially impact sales momentum though</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.

Asian Paints: APNT’s consolidated revenue grew 6.3% YoY to INR 85.3bn (HSIE: INR 80.5bn)Decorative clocked 10.9/6% volume/value growth, driven by intensified brand-building, step-up in product regionalization, widening B2B net, and early festive demandExtended monsoon did partially impact sales momentum thoughContent 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: Asian Paints, Infoedge, Ashok Leyland, Max Financial Services...

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

<ul>
<li>
Global chemical inventory levels are at decade lows, and product prices have begun stabilizing across key segments, signaling the early stages of a demand-led recovery. </li>
<li>The capex cycle is largely behind us, setting the stage for strong free cash flow generation even as select sub-segments like amines, fluorine, and pyridines see pricing and volume tailwinds. 
</li>
<li>We adopt a selective bullish view, with momentum expected in companies that have strategically aligned capex, strong product-market fit, and established global customer relationships. 
</li>
</ul>



Global chemical inventory levels are at decade lows, and product prices have begun stabilizing across key segments, signaling the early stages of a demand-led recovery. 
The capex cycle is largely behind us, setting the stage for strong free cash flow generation even as select sub-segments like amines, fluorine, and pyridines see pricing and volume tailwinds. 

We adopt a selective bullish view, with momentum expected in companies that have strategically aligned capex, strong product-market fit, and established global customer relationships. 



Thematic Report on What’s Different About the Chemical Recovery This Time?

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Anthem Biosciences / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/anthem-biosciences" target="_blank" data-smartkarma-citation="entities:44206:1" rel="noopener">Anthem Biosciences (1234D IN)</a> is looking to raise up to US$400m in its upcoming India IPO.</li>
<li>Anthem Biosciences (ABS) is a contract research, development and manufacturing organisation (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Anthem Biosciences (1234D IN) is looking to raise up to US$400m in its upcoming India IPO.
Anthem Biosciences (ABS) is a contract research, development and manufacturing organisation (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
In this note, we talk about the not-so-positive aspects of the deal.


Anthem Biosciences Pre-IPO - The Negatives- Margins Aren't There Yet

Shiva Pharmachem Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiva-pharmachem-limited" target="_blank" data-smartkarma-citation="entities:40109:1" rel="noopener">Shiva Pharmachem Limited (9155347Z IN)</a> is looking to raise around US$110m in its India IPO.</li>
<li>It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Shiva Pharmachem Limited (9155347Z IN) is looking to raise around US$110m in its India IPO.
It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .
In this note, we talk about the company’s historical performance.


Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

External broker reports(aggregated public sources), CD Equisearch

CD Equisearch

CD Equisearch is one of the leading brokerage houses with a strong presence in the institutional and HNI broking segment. 

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>On the back of destocking of inventory by Chinese companies and end user industry facing headwinds along with lower realization in key products, Balaji Amines revenue fell 34.6% from Rs 585.95 crs in Q3FY23 to Rs 383.36 crs in Q3FY24.</li><li>These headwinds also impacted the saleable volumes which saw a drop of 4.4% to 26,903 mt in Q3FY24 as against 28,147 mt in Q3FY23.</li><li>Volumes could however revive in the next few quarters as pharma &amp; API industry appears to have turned a corner.</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.

On the back of destocking of inventory by Chinese companies and end user industry facing headwinds along with lower realization in key products, Balaji Amines revenue fell 34.6% from Rs 585.95 crs in Q3FY23 to Rs 383.36 crs in Q3FY24.These headwinds also impacted the saleable volumes which saw a drop of 4.4% to 26,903 mt in Q3FY24 as against 28,147 mt in Q3FY23.Volumes could however revive in the next few quarters as pharma &amp; API industry appears to have turned a corner.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.

Balaji Amines Ltd (BAL) - Quarterly Highlights

India

Balaji Amines Ltd. manufactures methylamines, ethylamines, and derivatives of specialty chemicals and natural products. The Company supplies its products to c ompanies in the pharmaceutical and pesticide industries in India and elsewhere t hroughout the world.

Price Gauge
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Balaji Amines (BLA IN)

HSIE Results Daily: Asian Paints, Infoedge, Ashok Leyland, Max Financial Services...

Decorative clocked 10.9/6% volume/value growth, driven by intensified brand-building, step-up in product regionalization, widening B2B net, and...

HDFC Securities

Thematic Report on What’s Different About the Chemical Recovery This Time?

Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...

Sudarshan Bhandari

Anthem Biosciences Pre-IPO - The Negatives- Margins Aren't There Yet

Anthem Biosciences is looking to raise up to US$400m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Akshat Shah

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Balaji Amines Ltd (BAL) - Quarterly Highlights

On the back of destocking of inventory by Chinese companies and end user industry facing headwinds along with lower realization in key products,...

CD Equisearch

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSIE Results Daily: Asian Paints, Infoedge, Ashok Leyland, Max Financial Services...

Decorative clocked 10.9/6% volume/value growth, driven by intensified brand-building, step-up in product regionalization, widening B2B net, and...

HDFC Securities

Thematic Report on What’s Different About the Chemical Recovery This Time?

​Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...

Sudarshan Bhandari

Anthem Biosciences Pre-IPO - The Negatives- Margins Aren't There Yet

Anthem Biosciences is looking to raise up to US$400m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Akshat Shah

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Balaji Amines Ltd (BAL) - Quarterly Highlights

On the back of destocking of inventory by Chinese companies and end user industry facing headwinds along with lower realization in key products,...

CD Equisearch

Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...