Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Capital Markets

<ul>
<li>We discuss details about <a href="https://www.smartkarma.com/entities/geddit-convenience-pvt-ltd-zepto" target="_blank" data-smartkarma-citation="entities:35873:1" rel="noopener">Zepto (1936629D IN)</a> 's likely IPO in near term as all regulatory approvals are in place.</li>
<li>This insight gives a brief overview of the company and its key parameters.</li>
<li>Finally, we discuss about company's financials, valuation journey and key points to watch out for in this IPO.</li>
</ul>


We discuss details about Zepto (1936629D IN) 's likely IPO in near term as all regulatory approvals are in place.
This insight gives a brief overview of the company and its key parameters.
Finally, we discuss about company's financials, valuation journey and key points to watch out for in this IPO.


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

Thematic (Sector/Industry)

<ul>
<li>Blinkit’s Q1 FY27 NOV grew 86% YoY with 0.6% adjusted EBITDA margin, while Instamart contribution margin improved 440 bps YoY to -0.2% and Zepto’s orders/store/day surged 50% YoY. .</li>
<li>The operating debate is shifting from delivery speed and gross store additions to customer density, per-store throughput, advertising income, assortment depth and contribution per order.</li>
<li>Zepto has the strongest throughput momentum but the largest disclosed loss pool. Instamart is making credible margin progress, although recent volume and store-productivity growth is less aggressive.</li>
</ul>


Blinkit’s Q1 FY27 NOV grew 86% YoY with 0.6% adjusted EBITDA margin, while Instamart contribution margin improved 440 bps YoY to -0.2% and Zepto’s orders/store/day surged 50% YoY. .
The operating debate is shifting from delivery speed and gross store additions to customer density, per-store throughput, advertising income, assortment depth and contribution per order.
Zepto has the strongest throughput momentum but the largest disclosed loss pool. Instamart is making credible margin progress, although recent volume and store-productivity growth is less aggressive.


Quick Commerce in India: The Shift Towards Sustainable Growth

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>India's central government has cleared a series of regulatory reforms, culminating in a fast-track cross-border merger route triggering a wave of reverse domiciliation by Indian unicorns from Singapore &amp; US.</li>
<li>Over a dozen unicorns, including Flipkart, Razorpay, Meesho, Zepto, and Groww, are redomiciling to India.</li>
<li>The regulatory arc is decisively favorable, but tax costs remain steep and Press Note 3 compliance adds a sovereign-risk layer for China-funded cap tables.</li>
</ul>


India's central government has cleared a series of regulatory reforms, culminating in a fast-track cross-border merger route triggering a wave of reverse domiciliation by Indian unicorns from Singapore &amp; US.
Over a dozen unicorns, including Flipkart, Razorpay, Meesho, Zepto, and Groww, are redomiciling to India.
The regulatory arc is decisively favorable, but tax costs remain steep and Press Note 3 compliance adds a sovereign-risk layer for China-funded cap tables.


Reverse Flip: Why Indian Startups Are Coming Back Home Again?

<ul>
<li>The four new Labour Codes on Wages, Industrial Relations, Social Security, and OSHWC, replace 29 old laws, creating a unified, simplified, and future-ready framework for India's labour sector.</li>
<li>The Codes expand social security to gig/platform workers, mandate appointment letters, and introduce flexibility measures, directly addressing India's formalization and productivity deficit.</li>
<li>Structural shifts toward formal employment, financial inclusion, and manufacturing flexibility will boost corporate investment, productivity, and inclusive growth, justifying a re-rating of India's formal sector.</li>
</ul>


The four new Labour Codes on Wages, Industrial Relations, Social Security, and OSHWC, replace 29 old laws, creating a unified, simplified, and future-ready framework for India's labour sector.
The Codes expand social security to gig/platform workers, mandate appointment letters, and introduce flexibility measures, directly addressing India's formalization and productivity deficit.
Structural shifts toward formal employment, financial inclusion, and manufacturing flexibility will boost corporate investment, productivity, and inclusive growth, justifying a re-rating of India's formal sector.


India's Labor Code Reform: What Global Investors Should Know?

<ul>
<li>India’s ambitious growth trajectory aims for 8-10% of global GDP by 2040, driven by strategic investments in 18 high-growth sectors, blending national priorities and global opportunities. </li>
<li>
Key sectors identified span technology, manufacturing, and sustainability, with a projected $1.7-2 trillion in revenue by 2030, shaping India’s global economic leadership. </li>
<li>Collaborative action and policy support are essential for unlocking sectoral potential, positioning India to capitalize on its capabilities and become a key player in the global economy.</li>
</ul>


India’s ambitious growth trajectory aims for 8-10% of global GDP by 2040, driven by strategic investments in 18 high-growth sectors, blending national priorities and global opportunities. 

Key sectors identified span technology, manufacturing, and sustainability, with a projected $1.7-2 trillion in revenue by 2030, shaping India’s global economic leadership. 
Collaborative action and policy support are essential for unlocking sectoral potential, positioning India to capitalize on its capabilities and become a key player in the global economy.


Thematic Report on Sectors of the Future: India’s Path to Global Economic Leadership

India

Zepto offers a 10-minute grocery delivery service through an e-grocery app that revolutionizes the grocery buying experience.

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Zepto (1936629D IN)

Zepto IPO - Preview

Zepto has filed an updated DRHP with SEBI for its IPO, proposing a fresh issue worth USD 800 million through equity shares. Including an offer for...

Sreemant Dudhoria

Quick Commerce in India: The Shift Towards Sustainable Growth

Blinkit's Q1 FY27 NOV shows strong growth, with focus shifting to customer density. Zepto leads in throughput but faces largest loss pool, while...

Sudarshan Bhandari

Reverse Flip: Why Indian Startups Are Coming Back Home Again?

Indian unicorns are moving back to India from Singapore and the US due to regulatory reforms, but tax costs and compliance issues remain.

Nimish Maheshwari

India's Labor Code Reform: What Global Investors Should Know?

India's new Labour Codes consolidate 29 old laws into a unified framework, expanding social security and boosting formal employment, productivity,...

Nimish Maheshwari

Thematic Report on Sectors of the Future: India’s Path to Global Economic Leadership

India aims for 8-10% of global GDP by 2040 through strategic investments in key sectors, projecting $1.7-2 trillion in revenue by 2030 and...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Zepto IPO - Preview

Zepto has filed an updated DRHP with SEBI for its IPO, proposing a fresh issue worth USD 800 million through equity shares. Including an offer for...

Sreemant Dudhoria

Quick Commerce in India: The Shift Towards Sustainable Growth

​Blinkit's Q1 FY27 NOV shows strong growth, with focus shifting to customer density. Zepto leads in throughput but faces largest loss pool, while...

Sudarshan Bhandari

Reverse Flip: Why Indian Startups Are Coming Back Home Again?

​Indian unicorns are moving back to India from Singapore and the US due to regulatory reforms, but tax costs and compliance issues remain.

Nimish Maheshwari

India's Labor Code Reform: What Global Investors Should Know?

​India's new Labour Codes consolidate 29 old laws into a unified framework, expanding social security and boosting formal employment, productivity,...

Nimish Maheshwari

Thematic Report on Sectors of the Future: India’s Path to Global Economic Leadership

​India aims for 8-10% of global GDP by 2040 through strategic investments in key sectors, projecting $1.7-2 trillion in revenue by 2030 and...

Sudarshan Bhandari

Blinkit's Q1 FY27 NOV shows strong growth, with focus shifting to customer density. Zepto leads in throughput but faces largest loss pool, while...

Indian unicorns are moving back to India from Singapore and the US due to regulatory reforms, but tax costs and compliance issues remain.

India's new Labour Codes consolidate 29 old laws into a unified framework, expanding social security and boosting formal employment, productivity,...

India aims for 8-10% of global GDP by 2040 through strategic investments in key sectors, projecting $1.7-2 trillion in revenue by 2030 and...