Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

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

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vishnu-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:4917:1" rel="noopener">Vishnu Chemicals (VCL IN)</a>  is now backward integrated with the soda ash, CO2 Gas plant and ore requirement to overcome the challenge of raw material price volatility. </li>
<li>Company operated in niche &amp; specialty chemical segment and will launch detailed  capex plan in Q2 for forward integration. </li>
<li>Management aims to consolidate EBITDA margins around 17.5%-18% by year-end, with a target of achieving consistent margins at 20% over the next 2-3 years.</li>
</ul>



Vishnu Chemicals (VCL IN)  is now backward integrated with the soda ash, CO2 Gas plant and ore requirement to overcome the challenge of raw material price volatility. 
Company operated in niche &amp; specialty chemical segment and will launch detailed  capex plan in Q2 for forward integration. 
Management aims to consolidate EBITDA margins around 17.5%-18% by year-end, with a target of achieving consistent margins at 20% over the next 2-3 years.


The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

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

External broker reports(aggregated public sources), CD Equisearch

CD Equisearch

External broker reports(aggregated public sources)

CD Equisearch is one of the leading brokerage houses with a strong presence in the institutional and HNI broking segment. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Driven by higher volumes in performance products and fuel additives, Deepak's advanced intermediates business saw a modest revenue growth last quarter.</li><li>Slowdown in demand in Western world was countered by foray in newer regions which also led to improvement in product mix.</li><li>The business suffered from the onslaught of inventory destocking by Chinese suppliers and elevated freight rates which took the sheen off exports to EU and US.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Driven by higher volumes in performance products and fuel additives, Deepak's advanced intermediates business saw a modest revenue growth last quarter.Slowdown in demand in Western world was countered by foray in newer regions which also led to improvement in product mix.The business suffered from the onslaught of inventory destocking by Chinese suppliers and elevated freight rates which took the sheen off exports to EU and US.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Deepak Nitrite Ltd. (DNL) - Company Brief

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aarti-industries-limited" target="_blank" data-smartkarma-citation="entities:6583:1" rel="noopener">Aarti Industries (ARTO IN)</a>  is planning a huge capex of 2500 Cr, which will increase their PPE by more than 50% from current CWIP and new capex.</li>
<li>Company is targeting 1450 to 1700Cr EBITDA in next year which is almost 1.5x to 2x of the existing EBITDA.</li>
<li>Introducing new products in the value chain, which has high-value added and high margins.</li>
</ul>



Aarti Industries (ARTO IN)  is planning a huge capex of 2500 Cr, which will increase their PPE by more than 50% from current CWIP and new capex.
Company is targeting 1450 to 1700Cr EBITDA in next year which is almost 1.5x to 2x of the existing EBITDA.
Introducing new products in the value chain, which has high-value added and high margins.


The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

India

Deepak Nitrite is a leading Indian chemical manufacturing company. It produces a wide range of chemical intermediates, including basic chemicals, fine and specialty chemicals, and performance products, serving industries such as pharmaceuticals, agrochemicals, dyes, pigments, and textiles. The company is headquartered in Vadodara, Gujarat, and was founded in 1970.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Deepak Nitrite (DN IN)

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

The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...

Sudarshan Bhandari

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

Deepak Nitrite Ltd. (DNL) - Company Brief

Driven by higher volumes in performance products and fuel additives, Deepak's advanced intermediates business saw a modest revenue growth last...

CD Equisearch

The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

The Beat Ideas: Aarti Industries - Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

​Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...

Sudarshan Bhandari

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

Deepak Nitrite Ltd. (DNL) - Company Brief

Driven by higher volumes in performance products and fuel additives, Deepak's advanced intermediates business saw a modest revenue growth last...

CD Equisearch

The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

The Beat Ideas: Aarti Industries - ​Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.

Sudarshan Bhandari

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

Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...

The Beat Ideas: Aarti Industries - Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.