Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

Housing and Urban Development Corporation / Equity Bottom-Up

Housing and Urban Development Corporation (HUDCO IN)

Housing and Urban Development Corporation

<ul>
<li>The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.</li>
<li>We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.</li>
<li>Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.</li>
</ul>


The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.
We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.
Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.


Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

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

Deepak Fertilisers and Petrochemicals / Equity Bottom-Up

Deepak Fertilisers and Petrochemicals (DFPC IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/deepak-fertilisers-petro" target="_blank" data-smartkarma-citation="entities:9768:1" rel="noopener">Deepak Fertilisers &amp; Petro (DFPC IN)</a> Q3 FY25 saw revenue rise 39% YoY, EBITDA up 72%, and net profit 318% YoY, driven by expansion and a shift to specialty products.</li>
<li>Company saw significant volume growth across segments except crop nutrition segment.</li>
<li>Company is under restructuring exercise, which will demerge all the different segment and unlock value over longer term.</li>
</ul>



Deepak Fertilisers &amp; Petro (DFPC IN) Q3 FY25 saw revenue rise 39% YoY, EBITDA up 72%, and net profit 318% YoY, driven by expansion and a shift to specialty products.
Company saw significant volume growth across segments except crop nutrition segment.
Company is under restructuring exercise, which will demerge all the different segment and unlock value over longer term.


Deepak Fertilisers Limited: Q3 FY25 Performance Analysis

<ul>
<li>
<a href="https://www.smartkarma.com/entities/deepak-fertilisers-petro" target="_blank" data-smartkarma-citation="entities:9768:1" rel="noopener">Deepak Fertilisers &amp; Petro (DFPC IN)</a> reported impressive financial results for Q2 FY25 with a 13% YoY growth in revenue, a 73% increase in  EBITDA, and margin expansion to 18%.</li>
<li>Company is operating at ~98% Capacity utilisation and also planning capex of 4500 Crores.</li>
<li>Management emphasised the company's <strong>ongoing transition from commodity to specialty products across business segments.</strong> This strategic shift aims to enhance margins, cater to evolving customer needs, and strengthen market leadership.</li>
</ul>



Deepak Fertilisers &amp; Petro (DFPC IN) reported impressive financial results for Q2 FY25 with a 13% YoY growth in revenue, a 73% increase in  EBITDA, and margin expansion to 18%.
Company is operating at ~98% Capacity utilisation and also planning capex of 4500 Crores.
Management emphasised the company's ongoing transition from commodity to specialty products across business segments. This strategic shift aims to enhance margins, cater to evolving customer needs, and strengthen market leadership.


Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>In the overheated Indian markets where selling spree by promoters is going at record pace.</li>
<li>We identified certain interesting companies where promoters are buying giving confidence in their business</li>
<li>We further delve into the thesis and key triggers for these companies</li>
</ul>


In the overheated Indian markets where selling spree by promoters is going at record pace.
We identified certain interesting companies where promoters are buying giving confidence in their business
We further delve into the thesis and key triggers for these companies


Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

APAC IPOs & Placements, Aequitas Research

Akshat Shah

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

Shiva Pharmachem Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiva-pharmachem-limited" target="_blank" data-smartkarma-citation="entities:40109:1" rel="noopener">Shiva Pharmachem Limited (9155347Z IN)</a> is looking to raise around US$110m in its India IPO.</li>
<li>It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Shiva Pharmachem Limited (9155347Z IN) is looking to raise around US$110m in its India IPO.
It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .
In this note, we talk about the company’s historical performance.


Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

India

Deepak Fertilisers and Petrochemicals Corporation Ltd. manufactures industrial and agricultural chemicals, crop nutrients, and fertilizers. Its product portfolio includes industrial chemicals, bulk and specialty fertilizers, farming diagnostics, and technical ammonium nitrate. The company also has a presence in value-added real estate. It is headquartered in Pune, India, and was founded in 1979.

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Deepak Fertilisers and Petrochemicals (DFPC IN)

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Deepak Fertilisers Limited: Q3 FY25 Performance Analysis

Deepak Fertilisers & Petro Q3 FY25 shows impressive growth in financials driven by expansion and focus on specialty products. Company undergoing...

Sudarshan Bhandari

Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Sudarshan Bhandari

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...

Nimish Maheshwari

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

​Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Deepak Fertilisers Limited: Q3 FY25 Performance Analysis

​Deepak Fertilisers & Petro Q3 FY25 shows impressive growth in financials driven by expansion and focus on specialty products. Company undergoing...

Sudarshan Bhandari

Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

​Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Sudarshan Bhandari

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

​Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...

Nimish Maheshwari

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Deepak Fertilisers & Petro Q3 FY25 shows impressive growth in financials driven by expansion and focus on specialty products. Company undergoing...

Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...