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.

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Thematic (Sector/Industry)

<ul>
<li>As of 28-Feb-26, <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> has inaugurated India's first large-scale commercial semiconductor ATMP facility in Sanand, Gujarat. </li>
<li>The India's Semi-conductor Mission has now 10 approved projects with aggregate investments of Rs 1.60 lakh crore ($18.6 billion) across six states.</li>
<li>Kaynes Semicon shipping India's first commercially paid chip prototype, CG Semi weeks away from volume production, Tata's Dholera fab in equipment installation, India's semiconductor value chain is no longer aspirational.</li>
</ul>


As of 28-Feb-26, Micron Technology (MU US) has inaugurated India's first large-scale commercial semiconductor ATMP facility in Sanand, Gujarat. 
The India's Semi-conductor Mission has now 10 approved projects with aggregate investments of Rs 1.60 lakh crore ($18.6 billion) across six states.
Kaynes Semicon shipping India's first commercially paid chip prototype, CG Semi weeks away from volume production, Tata's Dholera fab in equipment installation, India's semiconductor value chain is no longer aspirational.


INDIA SEMICONDUCTOR- Who Is Doing What and How Far Along Are They?

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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>Dixon Technologies: Dixon reported a robust 95% YoY revenue growth to INR 128.36bn in Q1, primarily driven by a 125% surge in its mobile and EMS division</li><li>This growth was tempered by sluggish performance in home appliances and declines in consumer electronics and lighting segment</li><li>EBITDAM remained flat YoY to 3.8%, owing to decline in gross margins, offset by reduced employee costs and other expenses</li></ul>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.

Dixon Technologies: Dixon reported a robust 95% YoY revenue growth to INR 128.36bn in Q1, primarily driven by a 125% surge in its mobile and EMS divisionThis growth was tempered by sluggish performance in home appliances and declines in consumer electronics and lighting segmentEBITDAM remained flat YoY to 3.8%, owing to decline in gross margins, offset by reduced employee costs and other expensesContent 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.

HSIE Results Daily: Dixon Technologies, Oberoi Realty, Mahindra & Mahindra Financial Services...

<ul>
<li>Several Indian sectors have demonstrated a robust recovery in operating margins on a Year-over-Year (YoY) basis as of March 2025 (Q4 FY25)</li>
<li>This broad-based improvement is primarily attributed to a confluence of industry-wide factors, predominantly the easing of input costs driven by moderating inflation.</li>
<li>Sectors like Telecom, Metals, Cement, Consumer Durables, Capital Goods, Automobile, Healthcare, EMS are seeing uptick in margins</li>
</ul>


Several Indian sectors have demonstrated a robust recovery in operating margins on a Year-over-Year (YoY) basis as of March 2025 (Q4 FY25)
This broad-based improvement is primarily attributed to a confluence of industry-wide factors, predominantly the easing of input costs driven by moderating inflation.
Sectors like Telecom, Metals, Cement, Consumer Durables, Capital Goods, Automobile, Healthcare, EMS are seeing uptick in margins


Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

<ul>
<li>SEBI investigates <a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a>'s delayed disclosures on derivatives accounting lapses, insider trading violations, and potential violations of LODR regulations.</li>
<li>
<a href="https://www.smartkarma.com/entities/dixon-technologies-india-ltd" target="_blank" data-smartkarma-citation="entities:25486:1" rel="noopener">Dixon Technologies India Ltd (DIXON IN)</a> Sunil Vachani discusses India's progress in electronics manufacturing, aiming for global leadership but requiring time and patience.</li>
<li>NSE is close to receiving Sebi’s approval for its IPO, with ongoing discussions on disclosures or an out-of-court settlement.</li>
</ul>


SEBI investigates Indusind Bank (IIB IN)'s delayed disclosures on derivatives accounting lapses, insider trading violations, and potential violations of LODR regulations.

Dixon Technologies India Ltd (DIXON IN) Sunil Vachani discusses India's progress in electronics manufacturing, aiming for global leadership but requiring time and patience.
NSE is close to receiving Sebi’s approval for its IPO, with ongoing discussions on disclosures or an out-of-court settlement.


#153 India Insight: SEBI Probes IndusInd Bank, DIXON Chief on Electronics, NSE IPO Nears Nod.

<ul><li>DLF: DLF reported a stable quarter with pre-sales of INR 20.3bn (+39.1%/-83.2% YoY/QoQ), largely on the back of sustenance sales from recently-launched Dahilas</li><li>Collections improved significantly, led by robust bookings, to INR 33.2bn (+50.6%/+6.5% YoY/QoQ)</li><li>Moreover, it is heading towards the launch of the Mumbai project, along with Privana North in Q1FY26, following its next uber luxury project DLF 5 at the end of this fiscal, which should further improve margins</li></ul>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.

DLF: DLF reported a stable quarter with pre-sales of INR 20.3bn (+39.1%/-83.2% YoY/QoQ), largely on the back of sustenance sales from recently-launched DahilasCollections improved significantly, led by robust bookings, to INR 33.2bn (+50.6%/+6.5% YoY/QoQ)Moreover, it is heading towards the launch of the Mumbai project, along with Privana North in Q1FY26, following its next uber luxury project DLF 5 at the end of this fiscal, which should further improve marginsContent 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.

HSIE Results Daily: DLF, Torrent Pharma, Dixon Technologies, Zydus Lifesciences...

India

Dixon Technologies (India) Ltd. is a major Indian electronics manufacturing services (EMS) provider. It specializes in manufacturing consumer electronics, home appliances, lighting products, and mobile phones, operating as both an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM). The company is headquartered in Noida, Uttar Pradesh, India, and was founded in 1993.

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Dixon Technologies (DIXON IN)

INDIA SEMICONDUCTOR- Who Is Doing What and How Far Along Are They?

Micron Technology opens India's first large-scale semiconductor facility in Gujarat, part of India's Semiconductor Mission with 10 approved...

Sudarshan Bhandari

HSIE Results Daily: Dixon Technologies, Oberoi Realty, Mahindra & Mahindra Financial Services...

Dixon Technologies: Dixon reported a robust 95% YoY revenue growth to INR 128.36bn in Q1, primarily driven by a 125% surge in its mobile and EMS...

HDFC Securities

Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.

Sudarshan Bhandari

#153 India Insight: SEBI Probes IndusInd Bank, DIXON Chief on Electronics, NSE IPO Nears Nod.

SEBI investigates Indusind Bank for accounting lapses and insider trading, Dixon Technologies aims for global leadership in electronics...

Sudarshan Bhandari

HSIE Results Daily: DLF, Torrent Pharma, Dixon Technologies, Zydus Lifesciences...

DLF reported a stable quarter with pre-sales of INR 20.3bn (+39.1%/-83.2% YoY/QoQ), largely on the back of sustenance sales from recently-launched...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

INDIA SEMICONDUCTOR- Who Is Doing What and How Far Along Are They?

​Micron Technology opens India's first large-scale semiconductor facility in Gujarat, part of India's Semiconductor Mission with 10 approved...

Sudarshan Bhandari

HSIE Results Daily: Dixon Technologies, Oberoi Realty, Mahindra & Mahindra Financial Services...

Dixon Technologies: Dixon reported a robust 95% YoY revenue growth to INR 128.36bn in Q1, primarily driven by a 125% surge in its mobile and EMS...

HDFC Securities

Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

​Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.

Sudarshan Bhandari

#153 India Insight: SEBI Probes IndusInd Bank, DIXON Chief on Electronics, NSE IPO Nears Nod.

​SEBI investigates Indusind Bank for accounting lapses and insider trading, Dixon Technologies aims for global leadership in electronics...

Sudarshan Bhandari

HSIE Results Daily: DLF, Torrent Pharma, Dixon Technologies, Zydus Lifesciences...

DLF reported a stable quarter with pre-sales of INR 20.3bn (+39.1%/-83.2% YoY/QoQ), largely on the back of sustenance sales from recently-launched...

HDFC Securities

Micron Technology opens India's first large-scale semiconductor facility in Gujarat, part of India's Semiconductor Mission with 10 approved...

Indian sectors show strong recovery in operating margins in Q4 FY25 due to lower input costs driven by easing inflation.

SEBI investigates Indusind Bank for accounting lapses and insider trading, Dixon Technologies aims for global leadership in electronics...