External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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.

Equity Bottom-Up

Galaxy Surfactants Ltd / Equity Bottom-Up

<ul><li>We interacted with the management (Abhijit Damle – CFO, Ruchir Soni – RMU &amp; Investor Relations) of Galaxy Surfactants Ltd (GSL) on 11th July 2025.</li><li>Galaxy Surfactants Limited is one of the leading global players in the Surfactants and Specialty Care Ingredients space, catering to the Home and Personal Care industry.</li><li>The company’s product portfolio is broadly divided into two categories: Performance Surfactants, which include ingredients forming the base of cleansing and foaming solutions, and Specialty Care Products, which serve specific functional roles in home and personal care formulations. </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.

We interacted with the management (Abhijit Damle – CFO, Ruchir Soni – RMU &amp; Investor Relations) of Galaxy Surfactants Ltd (GSL) on 11th July 2025.Galaxy Surfactants Limited is one of the leading global players in the Surfactants and Specialty Care Ingredients space, catering to the Home and Personal Care industry.The company’s product portfolio is broadly divided into two categories: Performance Surfactants, which include ingredients forming the base of cleansing and foaming solutions, and Specialty Care Products, which serve specific functional roles in home and personal care formulations. 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.

Galaxy Surfactants Ltd. - Key Takeaways from the Management Meet

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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>We attended Galaxy Surfactants’ (GSL) Capital Market Day on 13th June 2025, where the company outlined its vision for 2030 and a detailed action plan to accomplish it</li><li>(1) GSL aims to double its volume, growing EBITDA by 2.5x (20% CAGR) while maintaining an average ROCE north of 22%</li><li>(2) Targets will be achieved through organic growth and new product launches while dwelling on opportunities for strategic partnerships, acquisitions, and joint ventures</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.

We attended Galaxy Surfactants’ (GSL) Capital Market Day on 13th June 2025, where the company outlined its vision for 2030 and a detailed action plan to accomplish it(1) GSL aims to double its volume, growing EBITDA by 2.5x (20% CAGR) while maintaining an average ROCE north of 22%(2) Targets will be achieved through organic growth and new product launches while dwelling on opportunities for strategic partnerships, acquisitions, and joint venturesContent 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.

Galaxy Surfactant: Strategic Roadmap for Accelerate Growth. Maintain BUY

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.

Crompton Greaves Consumer Electricals / Equity Bottom-Up

<ul>
<li>India's Nifty50 index reached an all-time high yesterday. However, many Indian stocks are near their 52-week lows. Many among them have strong forecast earnings growth, good balance sheets, attractive valuations.</li>
<li>We screen 17 stocks with double digit forecast EPS growth, PEG &lt; 1.4x, net debt to equity less than 50%. They are spread across construction, chemicals, healthcare, industrials and technology.</li>
<li>The largest five are <a href="https://www.smartkarma.com/entities/deepak-nitrite-ltd" target="_blank" data-smartkarma-citation="entities:5845" rel="noopener">Deepak Nitrite (DN IN)</a>, <a href="https://www.smartkarma.com/entities/cohance-lifesciences-limited" target="_blank" data-smartkarma-citation="entities:33463" rel="noopener">Cohance Lifesciences (COHANCE IN)</a>, <a href="https://www.smartkarma.com/entities/basf-india-ltd" target="_blank" data-smartkarma-citation="entities:19253" rel="noopener">BASF India Ltd (BASF IN)</a>, <a href="https://www.smartkarma.com/entities/crompton-greaves-consumer-electricals" target="_blank" data-smartkarma-citation="entities:24046" rel="noopener">Crompton Greaves Consumer Electricals (CROMPTON IN)</a>, <a href="https://www.smartkarma.com/entities/clean-science-and-technology" target="_blank" data-smartkarma-citation="entities:33648" rel="noopener">Clean Science and Technology (CLEAN IN)</a>.</li>
</ul>


India's Nifty50 index reached an all-time high yesterday. However, many Indian stocks are near their 52-week lows. Many among them have strong forecast earnings growth, good balance sheets, attractive valuations.
We screen 17 stocks with double digit forecast EPS growth, PEG &lt; 1.4x, net debt to equity less than 50%. They are spread across construction, chemicals, healthcare, industrials and technology.
The largest five are Deepak Nitrite (DN IN), Cohance Lifesciences (COHANCE IN), BASF India Ltd (BASF IN), Crompton Greaves Consumer Electricals (CROMPTON IN), Clean Science and Technology (CLEAN IN).


Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

Thematic (Sector/Industry)

<ul><li>Revenue for our coverage universe is likely to change by 11.1/-2% YoY/QoQ</li><li>Addition of new products, improved export volumes of key products, and sharp jump in realization of refrigerant gases, oleochemicals led the performance of chemical companies compared to Q1FY25</li><li>Export volumes of MEHQ, MMA, BHA, polymer additives and HALS have shown improvement during the quarter</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.

Revenue for our coverage universe is likely to change by 11.1/-2% YoY/QoQAddition of new products, improved export volumes of key products, and sharp jump in realization of refrigerant gases, oleochemicals led the performance of chemical companies compared to Q1FY25Export volumes of MEHQ, MMA, BHA, polymer additives and HALS have shown improvement during the quarterContent 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.

Chemicals (Q1FY26 Results Preview): Brewing momentum

<ul><li>Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments (+27/74% YoY)</li><li>EBITDAM contracted slightly by 10bps YoY (+40bps QoQ) due to a decline in gross margin (-20bps) and higher other expenses (+36% YoY/up 10bps YoY), partially offset by employee cost reduction of 20bps YoY (+24% YoY in absolute terms)</li><li>Consequently, EBITDA grew 33% YoY.</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.

Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments (+27/74% YoY)EBITDAM contracted slightly by 10bps YoY (+40bps QoQ) due to a decline in gross margin (-20bps) and higher other expenses (+36% YoY/up 10bps YoY), partially offset by employee cost reduction of 20bps YoY (+24% YoY in absolute terms)Consequently, EBITDA grew 33% YoY.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.

HSIE Results Daily: Amber Enterprises, Eris Lifesciences, Kalpataru Projects International

India

Galaxy Surfactants Limited manufactures specialty chemicals. The Company produces fatty alcohol sulfates, lauryl alcohol ethoxylates, foam and viscosity boosters, surfactant blends, fatty alcohol ether sulfates, and pearlising agents. Galaxy Surfactants serves the personal, home care, and manufacturing industries worldwide.

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Galaxy Surfactants Ltd (GALSURF IN)

Galaxy Surfactants Ltd. - Key Takeaways from the Management Meet

We interacted with the management (Abhijit Damle – CFO, Ruchir Soni – RMU & Investor Relations) of Galaxy Surfactants Ltd (GSL) on 11th July 2025.

Axis Direct

Galaxy Surfactant: Strategic Roadmap for Accelerate Growth. Maintain BUY

We attended Galaxy Surfactants’ (GSL) Capital Market Day on 13th June 2025, where the company outlined its vision for 2030 and a detailed action...

HDFC Securities

Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...

Manishi Raychaudhuri

Chemicals (Q1FY26 Results Preview): Brewing momentum

Acutaas Chemicals, Clean Science and Technology, and Aether Industries’ performance should be supported by ramp-up in recently-commissioned plants.

HDFC Securities

HSIE Results Daily: Amber Enterprises, Eris Lifesciences, Kalpataru Projects International

Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments...

HDFC Securities

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Galaxy Surfactants Ltd. - Key Takeaways from the Management Meet

We interacted with the management (Abhijit Damle – CFO, Ruchir Soni – RMU & Investor Relations) of Galaxy Surfactants Ltd (GSL) on 11th July 2025.

Axis Direct

Galaxy Surfactant: Strategic Roadmap for Accelerate Growth. Maintain BUY

We attended Galaxy Surfactants’ (GSL) Capital Market Day on 13th June 2025, where the company outlined its vision for 2030 and a detailed action...

HDFC Securities

Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

​India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...

Manishi Raychaudhuri

Chemicals (Q1FY26 Results Preview): Brewing momentum

Acutaas Chemicals, Clean Science and Technology, and Aether Industries’ performance should be supported by ramp-up in recently-commissioned plants.

HDFC Securities

HSIE Results Daily: Amber Enterprises, Eris Lifesciences, Kalpataru Projects International

Amber Enterprises: Amber’s Q4FY25 revenue grew by 34% YoY to INR 37.54bn, mainly led by robust growth in consumer durables and electronics segments...

HDFC Securities

India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...