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

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/danish-power-limited" target="_blank" data-smartkarma-citation="entities:45080:1" rel="noopener">Danish Power (DANISH IN)</a> stands to benefit from India's aggressive shift towards renewable energy, particularly solar, supported by strong product offerings like Inverter Duty Transformers, which drive substantial revenue growth.</li>
<li>DPL’s strategic shift to higher-margin products, improved operating leverage, and expanded capacity should fuel margin expansion and support sustained profitability, positioning it well for continued growth and competitiveness.</li>
<li>With a robust order book exceeding INR 400 crore and an active pipeline, DPL has solid revenue visibility supported by strong demand in domestic and international markets.</li>
</ul>



Danish Power (DANISH IN) stands to benefit from India's aggressive shift towards renewable energy, particularly solar, supported by strong product offerings like Inverter Duty Transformers, which drive substantial revenue growth.
DPL’s strategic shift to higher-margin products, improved operating leverage, and expanded capacity should fuel margin expansion and support sustained profitability, positioning it well for continued growth and competitiveness.
With a robust order book exceeding INR 400 crore and an active pipeline, DPL has solid revenue visibility supported by strong demand in domestic and international markets.


The Beat Ideas: Danish Power Limited – Riding the Green Energy Wave

India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Equity Capital Markets

Atlanta Electricals / Equity Capital Markets

<ul>
<li>Atlanta is the third largest manufcaturer of transformers in India. With recent capex coming online, it boasts of capacity and product offering in line with the market leaders.</li>
<li>The company has a strong order book of 1,600cr and given the fairly short execution timeline is positioned to deliver 25-30% growth in FY26.</li>
<li>We believe IPO is being fairly valued at 20-24 times FY26 EBITDA, implying a 30-35% discount vs market leader <a href="https://www.smartkarma.com/entities/transformers-rectifiers-india-ltd" target="_blank" data-smartkarma-citation="entities:4606:1" rel="noopener">Transformers &amp; Rectifiers (India) Ltd (TRIL IN)</a> </li>
</ul>


Atlanta is the third largest manufcaturer of transformers in India. With recent capex coming online, it boasts of capacity and product offering in line with the market leaders.
The company has a strong order book of 1,600cr and given the fairly short execution timeline is positioned to deliver 25-30% growth in FY26.
We believe IPO is being fairly valued at 20-24 times FY26 EBITDA, implying a 30-35% discount vs market leader Transformers &amp; Rectifiers (India) Ltd (TRIL IN) 


Atlanta Electricals: IPO Priced at 30% Discount to Peers. Can Bid for Listing Pop

India

Danish Power Limited manufactures and exports power equipment. The Company offers dry type power and distribution transformers, sub-stations, and relay panels. Danish Power serves customers worldwide.

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Danish Power (DANISH IN)

The Beat Ideas: Danish Power Limited – Riding the Green Energy Wave

Danish Power Ltd. poised for growth with strong product offerings in renewable energy sector, driving revenue growth and margin expansion.

Sudarshan Bhandari

Atlanta Electricals: IPO Priced at 30% Discount to Peers. Can Bid for Listing Pop

Atlanta, the third largest transformer manufacturer in India, is poised for 25-30% growth in FY26 with a strong order book and competitive pricing...

Himanshu Dugar

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52-week Range

Market Cap (USDm)

P/E

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The Beat Ideas: Danish Power Limited – Riding the Green Energy Wave

​Danish Power Ltd. poised for growth with strong product offerings in renewable energy sector, driving revenue growth and margin expansion.

Sudarshan Bhandari

Atlanta Electricals: IPO Priced at 30% Discount to Peers. Can Bid for Listing Pop

​Atlanta, the third largest transformer manufacturer in India, is poised for 25-30% growth in FY26 with a strong order book and competitive pricing...

Himanshu Dugar

Danish Power Ltd. poised for growth with strong product offerings in renewable energy sector, driving revenue growth and margin expansion.

Atlanta, the third largest transformer manufacturer in India, is poised for 25-30% growth in FY26 with a strong order book and competitive pricing...