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, 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

<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 and 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

Credit

<ul><li>Constellation Brands is a major player in the international alcoholic beverage market, particularly the Mexican beer space.</li><li>The beer business of the company is well placed that continues to support the steady growth of the brands.</li><li>Among other developments, Constellation Brands has recently reached a pact with The Wine Growth to divest a portion of the company’s premium and mainstream wine portfolio.</li></ul>

Constellation Brands is a major player in the international alcoholic beverage market, particularly the Mexican beer space.The beer business of the company is well placed that continues to support the steady growth of the brands.Among other developments, Constellation Brands has recently reached a pact with The Wine Growth to divest a portion of the company’s premium and mainstream wine portfolio.

Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer space.</li><li>The buy rate increased in the quarter for both total wine categories and high-end beer in tracked channels.</li><li>The beer business of the company remained well placed that continues to support the steady growth of the brands.</li></ul>

This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer space.The buy rate increased in the quarter for both total wine categories and high-end beer in tracked channels.The beer business of the company remained well placed that continues to support the steady growth of the brands.

Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts

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.: 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

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

Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Constellation Brands is a major player in the international alcoholic beverage market, particularly the Mexican beer space. The beer business of...

Baptista Research

Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts

This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer...

Baptista Research

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