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>Constellation Brands surpassed the revenue expectations as well as the earnings expectations of Wall Street.</li><li>Modelo Especial drove outstanding performance, achieving double-digit volume growth and reinforcing its position as the leading US beer brand.</li><li>Looking ahead, Constellation Brands anticipates sustained momentum in the beer business, driven by consumer trends like premiumization and the growth of the Hispanic population.</li></ul>

Constellation Brands surpassed the revenue expectations as well as the earnings expectations of Wall Street.Modelo Especial drove outstanding performance, achieving double-digit volume growth and reinforcing its position as the leading US beer brand.Looking ahead, Constellation Brands anticipates sustained momentum in the beer business, driven by consumer trends like premiumization and the growth of the Hispanic population.

Constellation Brands Inc.: Innovative Strategies Fueling Record Market Shares! - Major Drivers

<ul><li>Constellation Brands, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>The company's beer business generated significant growth for the quarter while steadily moving forward with all 4 of its strategic projects.</li><li>Their larger premium and luxury brands in the higher-end wine area of their portfolio experienced weaker segment demand in April.</li></ul>

Constellation Brands, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.The company's beer business generated significant growth for the quarter while steadily moving forward with all 4 of its strategic projects.Their larger premium and luxury brands in the higher-end wine area of their portfolio experienced weaker segment demand in April.

Constellation Brands Inc.: Making Waves in the Beverage World! - Major Drivers

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.</li><li>Microsoft’s declaration in January 2023 that AI would emerge as the next computing platform coupled with Nvidia’s shocking earnings guide up last quarter, coupled with a weaker dollar and decline in bond yields, provided fuel in the first half of the year for the technology sector and garnered investor eyeballs to anything closely associated with AI.</li><li>However, on Microsoft’s most recent earnings call on July 25th, CFO Amy Hood stated “Even with strong demand and a leadership position, growth from our AI services will be gradual as Azure AI scales and our copilots reach general availability dates. So for FY '24, the impact will be weighted towards H2.”</li></ul>

The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.Microsoft’s declaration in January 2023 that AI would emerge as the next computing platform coupled with Nvidia’s shocking earnings guide up last quarter, coupled with a weaker dollar and decline in bond yields, provided fuel in the first half of the year for the technology sector and garnered investor eyeballs to anything closely associated with AI.However, on Microsoft’s most recent earnings call on July 25th, CFO Amy Hood stated “Even with strong demand and a leadership position, growth from our AI services will be gradual as Azure AI scales and our copilots reach general availability dates. So for FY '24, the impact will be weighted towards H2.”

<ul><li>Given the impact of inflationary headwinds encountered throughout the year, Constellation Brands’ financial performance was not up to expectations.</li><li>The company delivered a 7% increase in net sales in the quarter which was below expectations along with a 3% increase in comparable operating income which resulted in an earnings beat.</li><li>Constellation Brands achieved record net sales of $9.5 billion and equivalent operating profits of $3 billion for the year.</li></ul>

Given the impact of inflationary headwinds encountered throughout the year, Constellation Brands’ financial performance was not up to expectations.The company delivered a 7% increase in net sales in the quarter which was below expectations along with a 3% increase in comparable operating income which resulted in an earnings beat.Constellation Brands achieved record net sales of $9.5 billion and equivalent operating profits of $3 billion for the year.

Constellation Brands Inc.: Inflation Playing Spoilsport? – Key Drivers

APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Allied Blenders & Distillers / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allied-blenders-distillers" target="_blank" data-smartkarma-citation="entities:36090:1" rel="noopener">Allied Blenders &amp; Distillers (ABD IN)</a> is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and Equirus Capital will be the bookrunners.</li>
<li>ABD is the largest Indian-owned Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between FY14 and FY21.</li>
<li>ABD has grown its brand over time and managed to stay profitable, despite COVID-19. However, sales volume has yet to return to pre-COVID levels, along with its profitability. </li>
</ul>



Allied Blenders &amp; Distillers (ABD IN) is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and Equirus Capital will be the bookrunners.
ABD is the largest Indian-owned Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between FY14 and FY21.
ABD has grown its brand over time and managed to stay profitable, despite COVID-19. However, sales volume has yet to return to pre-COVID levels, along with its profitability. 


Allied Blenders and Distillers Pre-IPO - Yet to Recover from COVID-19

United States

Constellation Brands, Inc. produces and markets alcoholic beverages in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

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Constellation Brands (STZ US)

Constellation Brands Inc.: Innovative Strategies Fueling Record Market Shares! - Major Drivers

Constellation Brands surpassed the revenue expectations as well as the earnings expectations of Wall Street. Modelo Especial drove outstanding...

Baptista Research

Constellation Brands Inc.: Making Waves in the Beverage World! - Major Drivers

Constellation Brands, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings. The company's beer business generated...

Baptista Research

Weekly Stock Bullfinder - Week of 8/14

The start of the second half of the year so far has seen a change in the market themes versus the first half of the year.

Weekly Stock Bull Finder

Constellation Brands Inc.: Inflation Playing Spoilsport? – Key Drivers

Given the impact of inflationary headwinds encountered throughout the year, Constellation Brands’ financial performance was not up to...

Baptista Research

Allied Blenders and Distillers Pre-IPO - Yet to Recover from COVID-19

Allied Blenders & Distillers (ABD IN) is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and...

Ethan Aw

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