Top Conviction Ideas - “Consolidated Q1FY26”
In Q1FY26, companies under our coverage posted strong financial performance, with YoY growth of 10% in volumes, 16% in revenue, 40% in EBITDA, and...
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Top Conviction Ideas - “Cement”
Companies under our coverage delivered YoY growth of 10% in volume, 16% in revenue, 40% in EBITDA and 45% in PAT, beating our expectations.
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JSW Cement IPO - RHP Updates, Peer Comp and Thoughts on Valuations
JSW Cement is looking to raise about US$410m in its India IPO. In this note, we talk about the RHP updates, peer comp and implied valuations in the...
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JSW Cements - Another Cement IPO in India Exactly 4 Yrs Later
​JSW Cement lists at $180/t, a premium despite weaker near-term performance, stands out on ESG as slag cement player. Poised for aggressive...
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JSW Cement Pre-IPO - Leveraging Synergies of the JSW Group but Has High Debt
JSW Cement has launched a smaller IPO of up to INR 36bn (US$412m) in a INR139–147 range, with the primary component cut down to INR 16bn from INR...
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