Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>BP delivered a mixed set of results with revenues below the analyst consensus estimate but managed an earnings beat.</li><li>Underlying earnings were $5 billion for the first quarter, and the company decreased net debt to $21.2 billion.</li><li>Looking ahead, the company remains focused on delivering strong results with good momentum throughout its organization.</li></ul>

BP delivered a mixed set of results with revenues below the analyst consensus estimate but managed an earnings beat.Underlying earnings were $5 billion for the first quarter, and the company decreased net debt to $21.2 billion.Looking ahead, the company remains focused on delivering strong results with good momentum throughout its organization.

BP p.l.c.: The NewMed Investment & Other Developments

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/scg-chemicals-pcl" target="_blank" data-smartkarma-citation="entities:39791:1" rel="noopener">SCG Chemicals (SCGC TB)</a> (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.</li>
<li>SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.
SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.
In this note, we talk about the not-so-positive aspects of the deal.


SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak

<ul>
<li>
<a href="https://www.smartkarma.com/entities/scg-chemicals-pcl" target="_blank" data-smartkarma-citation="entities:39791:1" rel="noopener">SCG Chemicals (SCGC TB)</a> (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.</li>
<li>SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.
SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.
In this note, we talk about the positive aspects of the deal.


SCG Chemicals Pre-IPO -The Positives - A Strong Regional Player

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/akr-corporindo-tbk-pt" target="_blank" data-smartkarma-citation="entities:13338:1" rel="noopener">AKR Corporindo</a>1Q2023 results demonstrated its resilience with its petroleum and chemicals division continuing to grow in 1Q2023 with the added kicker of a large land sale at JIIPE. </li>
<li>The company's JIIPE Industrial Estate will become an increasingly important earnings contributor but chemical distribution will be driven by smelters and fuel by the BP retail JV at the margin,</li>
<li>
<a href="https://www.smartkarma.com/entities/akr-corporindo-tbk-pt" target="_blank" data-smartkarma-citation="entities:13338:1" rel="noopener">AKR Corporindo</a> is an increasingly interesting proxy for the next stage of Indonesia's economic growth through its exposure to smelters through its chemicals business and the overall economy through fuel. </li>
</ul>



AKR Corporindo1Q2023 results demonstrated its resilience with its petroleum and chemicals division continuing to grow in 1Q2023 with the added kicker of a large land sale at JIIPE. 
The company's JIIPE Industrial Estate will become an increasingly important earnings contributor but chemical distribution will be driven by smelters and fuel by the BP retail JV at the margin,

AKR Corporindo is an increasingly interesting proxy for the next stage of Indonesia's economic growth through its exposure to smelters through its chemicals business and the overall economy through fuel. 


AKR Corporindo (AKRA IJ) - A Winning Formula

<ul><li>BP had a mixed quarter and its revenues were significantly above Wall Street expectations.</li><li>The management’s emphasis on cost performance as well as operational reliability underpinned robust financial delivery.</li><li>Despite the fact that its costs are being controlled, the company missed out on meeting the earnings estimates of analysts.</li></ul>

BP had a mixed quarter and its revenues were significantly above Wall Street expectations.The management’s emphasis on cost performance as well as operational reliability underpinned robust financial delivery.Despite the fact that its costs are being controlled, the company missed out on meeting the earnings estimates of analysts.

BP PLC: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)

United Kingdom

BP P.L.C is an energy company. The Company explores and produces oil and natural gas, refines, markets, and supplies petroleum products, as well as generates solar energy, and manufactures and markets chemicals such as terephthalic acid, acetic acid, acrylonitrile, ethylene, and polyethylene. BP serves customers worldwide.

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BP (BP US)

BP p.l.c.: The NewMed Investment & Other Developments

BP delivered a mixed set of results with revenues below the analyst consensus estimate but managed an earnings beat. Underlying earnings were $5...

Baptista Research

SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak

SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we will talk about the not-so-positive...

Sumeet Singh

SCG Chemicals Pre-IPO -The Positives - A Strong Regional Player

SCG Chemicals (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

AKR Corporindo (AKRA IJ) - A Winning Formula

AKR Corporindo is an interesting proxy for the next stage of Indonesia's economic growth through its exposure to smelters through its chemicals...

Angus Mackintosh

BP PLC: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)

BP had a mixed quarter and its revenues were significantly above Wall Street expectations. The management’s emphasis on cost performance as well...

Baptista Research

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