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

Equity Bottom-Up

Transformers and Rectifiers (India) / Equity Bottom-Up

Transformers and Rectifiers (India) (TARIL IN)

<ul>
<li>TARIL, a leading Indian transformer manufacturer, delivered record FY26 Consolidated performance with INR 2,509 crore revenue, INR 444 crore EBITDA, INR 272 crore PAT, and record production of 33,763 MVA.</li>
<li>The company closed FY26 with an order book of over INR 5,005 crore, providing nearly 18 months of revenue visibility, while maintaining focus on profitable and shorter-cycle orders.</li>
<li>TARIL’s HVDC repair order from PGCIL, planned capacity expansion to 75,000 MVA, and FY27 utilisation target of around 95% can support its next growth phase.</li>
</ul>


TARIL, a leading Indian transformer manufacturer, delivered record FY26 Consolidated performance with INR 2,509 crore revenue, INR 444 crore EBITDA, INR 272 crore PAT, and record production of 33,763 MVA.
The company closed FY26 with an order book of over INR 5,005 crore, providing nearly 18 months of revenue visibility, while maintaining focus on profitable and shorter-cycle orders.
TARIL’s HVDC repair order from PGCIL, planned capacity expansion to 75,000 MVA, and FY27 utilisation target of around 95% can support its next growth phase.


Transformer & Rectifiers Ltd.(Power Sector Proxy): Backward Integration and HVDC Opportunity

India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Thematic (Sector/Industry)

<div class="content-highlight">This is Part 4 in a series which focuses on abrupt changes in government policies affecting the industries and Indian economy. In Part 1, we discussed U-turn on GST on cigarettes (<a href="https://www.smartkarma.com/insights/which-is-worse-bad-policies-or-inconsistent-polices-ask-itc-and-investors-in-cigarette-companies" target="_blank">Which Is Worse, Bad Policies or Inconsistent Polices? Ask ITC and Investors in Cigarette Companies) </a>and in Part 2, the increase in GST on high-end cars (<a href="https://www.smartkarma.com/insights/the-gst-saga-first-cigarettes-and-now-autos-which-is-worse-bad-or-inconsistent-policies-part-2" target="_blank" data-smartkarma-citation="insights:12701">The GST Saga - First, Cigarettes and Now Autos. Which Is Worse -Bad or Inconsistent Policies? Part 2)</a> followed by Part 3 about the ultimatum from a senior minister to…</div>

This is Part 4 in a series which focuses on abrupt changes in government policies affecting the industries and Indian economy. In Part 1, we discussed U-turn on GST on cigarettes (Which Is Worse, Bad Policies or Inconsistent Polices? Ask ITC and Investors in Cigarette Companies) and in Part 2, the increase in GST on high-end cars (The GST Saga - First, Cigarettes and Now Autos. Which Is Worse -Bad or Inconsistent Policies? Part 2) followed by Part 3 about the ultimatum from a senior minister to…

The Story of GE and Indian Railways. Which Is Worse, Bad Policies or Inconsistent Polices - Part 4

Dealmakers in Technology, GP Bullhound

Alexandra Jarvis

Dealmakers in Technology

Growth companies in the Technology sector

GP Bullhound

GP Bullhound is a technology investment bank providing independent strategic advice on Mergers & Acquisitions and Capital raising to leading technology entrepreneurs, companies and investors across the globe. Our passion for technology, our financial acumen and our understanding of the entrepreneur’s journey differentiate our advice from other investment banks. We help exceptional people build exceptional businesses to create more billion-dollar technology companies across Europe.

<ul><li>GP Bullhound has established a quarterly market report on the Software as a Service (“SaaS”) space to provide quantitative insights into public and private market valuations across the transaction spectrum and qualitative insights into company business models, technology and customer trends</li><li>The report examines the SaaS public company landscape, M&amp;A, private placement and IPO trends</li><li>The software sector has disrupted technology and many other industries over the last several decades; first providing a global wave of onpremise software to all industries in the 1980s and 1990s; then modernizing traditional businesses through cloud-based platforms and enabling growth in business-to-consumer technologies, from mobile, to banking, to real estate, to consumer products</li><li>The shift of business applications to the cloud, decentralized IT operations and infrastructure software have percolated through organizations large and small creating a Software Eating the World paradigm</li></ul>

GP Bullhound has established a quarterly market report on the Software as a Service (“SaaS”) space to provide quantitative insights into public and private market valuations across the transaction spectrum and qualitative insights into company business models, technology and customer trendsThe report examines the SaaS public company landscape, M&amp;A, private placement and IPO trendsThe software sector has disrupted technology and many other industries over the last several decades; first providing a global wave of onpremise software to all industries in the 1980s and 1990s; then modernizing traditional businesses through cloud-based platforms and enabling growth in business-to-consumer technologies, from mobile, to banking, to real estate, to consumer productsThe shift of business applications to the cloud, decentralized IT operations and infrastructure software have percolated through organizations large and small creating a Software Eating the World paradigm

Global Software Market Perspectives 1H2017

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<h2>Headlines</h2><ul><li>Refrigeration appliances sees 5% volume growth in 2016 to reach 4.2 million units.</li><li>Demand for refrigeration appliances rebounds following declines caused by VAT increase in April 2014.</li><li>Fridge freezers is the fastest-growing category, with a 6% volume increase in 2016.</li><li>Premiumisation continues to play a key role in raising unit prices in refrigeration appliances in Japan.</li><li>Panasonic retains the lead in 2016, though Hitachi gains ground.</li><li>Refrigeration appliances’ performance over 2016-2021 is set to echo the declining number of households, with a -1% CAGR forecast in volume terms.</li></ul>

HeadlinesRefrigeration appliances sees 5% volume growth in 2016 to reach 4.2 million units.Demand for refrigeration appliances rebounds following declines caused by VAT increase in April 2014.Fridge freezers is the fastest-growing category, with a 6% volume increase in 2016.Premiumisation continues to play a key role in raising unit prices in refrigeration appliances in Japan.Panasonic retains the lead in 2016, though Hitachi gains ground.Refrigeration appliances’ performance over 2016-2021 is set to echo the declining number of households, with a -1% CAGR forecast in volume terms.

Sector Capsule: Refrigeration Appliances in Japan

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for CarriersBackground - Space shortage has disrupted the Europe-Asia container trade in February and March and European exporters face highly unusual space crunch. This is highly unusual for a ‘back-haul’ route where ship utilization rarely reaches 70%. Carriers charged an ‘emergency minimum rate’ to accept bookings and some of them have put a stop to bookings until mid-April. Boxes already on the quay are getting…

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for CarriersBackground - Space shortage has disrupted the Europe-Asia container trade in February and March and European exporters face highly unusual space crunch. This is highly unusual for a ‘back-haul’ route where ship utilization rarely reaches 70%. Carriers charged an ‘emergency minimum rate’ to accept bookings and some of them have put a stop to bookings until mid-April. Boxes already on the quay are getting…

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for Carriers

United States

General Electric Company is a globally diversified technology and financial services company. The Company's products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products.

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General Electric (GE US)

Transformer & Rectifiers Ltd.(Power Sector Proxy): Backward Integration and HVDC Opportunity

Indian transformer manufacturer TARIL achieved record performance in FY26 with INR 2,509 crore revenue, focusing on profitable orders and capacity...

Sudarshan Bhandari

The Story of GE and Indian Railways. Which Is Worse, Bad Policies or Inconsistent Polices - Part 4

This is Part 4 in a series which focuses on abrupt changes in government policies affecting the industries and Indian economy. In Part 1, we...

Pankaj Sharma

Global Software Market Perspectives 1H2017

GP Bullhound has established a quarterly market report on the Software as a Service (“SaaS”) space to provide quantitative insights into public...

GP Bullhound

Sector Capsule: Refrigeration Appliances in Japan

Headlines Refrigeration appliances sees 5% volume growth in 2016 to reach 4.2 million units. Demand for refrigeration appliances rebounds following...

Euromonitor International Ltd.

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for Carriers

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for CarriersBackground - Space shortage has disrupted the...

Drewry Maritime Financial Research

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Transformer & Rectifiers Ltd.(Power Sector Proxy): Backward Integration and HVDC Opportunity

​Indian transformer manufacturer TARIL achieved record performance in FY26 with INR 2,509 crore revenue, focusing on profitable orders and capacity...

Sudarshan Bhandari

The Story of GE and Indian Railways. Which Is Worse, Bad Policies or Inconsistent Polices - Part 4

This is Part 4 in a series which focuses on abrupt changes in government policies affecting the industries and Indian economy. In Part 1, we...

Pankaj Sharma

Global Software Market Perspectives 1H2017

GP Bullhound has established a quarterly market report on the Software as a Service (“SaaS”) space to provide quantitative insights into public...

GP Bullhound

Sector Capsule: Refrigeration Appliances in Japan

Headlines Refrigeration appliances sees 5% volume growth in 2016 to reach 4.2 million units. Demand for refrigeration appliances rebounds following...

Euromonitor International Ltd.

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for Carriers

Container Shipping - Asia Import Drive Will Boost Asia-Europe-Asia Box Profits for CarriersBackground - Space shortage has disrupted the...

Drewry Maritime Financial Research

Indian transformer manufacturer TARIL achieved record performance in FY26 with INR 2,509 crore revenue, focusing on profitable orders and capacity...