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

<ul>
<li>94% of Bikaji's revenue now falls under favorable GST slab due to the recent rate cut, positioning it to gain significant market share through lower consumer prices.</li>
<li>The company is strategically passing on the tax benefit to consumers via higher grammage and lower MRP, which is expected to drive an incremental 2-3% volume growth while sustaining margins</li>
<li>The company has the immediate manufacturing headroom and distribution reach to capture the expected volume surge without major, immediate capital expenditure.</li>
</ul>


94% of Bikaji's revenue now falls under favorable GST slab due to the recent rate cut, positioning it to gain significant market share through lower consumer prices.
The company is strategically passing on the tax benefit to consumers via higher grammage and lower MRP, which is expected to drive an incremental 2-3% volume growth while sustaining margins
The company has the immediate manufacturing headroom and distribution reach to capture the expected volume surge without major, immediate capital expenditure.


From Tax Tailwind to Volume Surge: Bikaji’s Next Growth Phase

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>Over the next couple of weeks, we will focus on highlighting key earnings and what catches our attention in the conference calls</li>
<li>Top Large Cap Bullish Ideas include <a href="https://www.smartkarma.com/entities/hdfc-asset-management-co-ltd" target="_blank" data-smartkarma-citation="entities:27027:1" rel="noopener">HDFC Asset Management Co Ltd (HDFCAMC IN)</a>, <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> &amp; <a href="https://www.smartkarma.com/entities/pvr-inox-limited" target="_blank" data-smartkarma-citation="entities:10144:1" rel="noopener">Pvr Inox (PVRINOX IN)</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/d-b-corp-ltd" target="_blank" data-smartkarma-citation="entities:6044:1" rel="noopener">D.B. Corp Ltd (DBCL IN)</a>, <a href="https://www.smartkarma.com/entities/indiamart-intermesh-limited" target="_blank" data-smartkarma-citation="entities:27733:1" rel="noopener">IndiaMart (INMART IN)</a> &amp; <a href="https://www.smartkarma.com/entities/gopal-snacks-ltd" target="_blank" data-smartkarma-citation="entities:40960:1" rel="noopener">Gopal Snacks (GOPAL IN)</a> are names that we have a bearish view on. </li>
</ul>


Over the next couple of weeks, we will focus on highlighting key earnings and what catches our attention in the conference calls
Top Large Cap Bullish Ideas include HDFC Asset Management Co Ltd (HDFCAMC IN), Bajaj Auto Ltd (BJAUT IN) &amp; Pvr Inox (PVRINOX IN).

D.B. Corp Ltd (DBCL IN), IndiaMart (INMART IN) &amp; Gopal Snacks (GOPAL IN) are names that we have a bearish view on. 


Namaste India 🙏 | Earnings Editions Are Back

<ul>
<li>
<a href="https://www.smartkarma.com/entities/prataap-snacks-ltd" target="_blank" data-smartkarma-citation="entities:26051:1" rel="noopener">Prataap Snacks Ltd (DIAMOND IN)</a>'s acquisition of Avadh Snacks and recent manufacturing expansions, including new facilities in Kolkata, Jammu, and Rajkot, align with its growth strategy.</li>
<li>PSL reported an 8.7% revenue increase in Q1 FY25, despite facing raw material cost inflation and rising overheads. The company has streamlined distribution and cost management to sustain margins.</li>
<li>PSL's focus on expanding high-margin segments and leveraging cost efficiencies positions it as a resilient and cheapest player in the snack industry.</li>
</ul>



Prataap Snacks Ltd (DIAMOND IN)'s acquisition of Avadh Snacks and recent manufacturing expansions, including new facilities in Kolkata, Jammu, and Rajkot, align with its growth strategy.
PSL reported an 8.7% revenue increase in Q1 FY25, despite facing raw material cost inflation and rising overheads. The company has streamlined distribution and cost management to sustain margins.
PSL's focus on expanding high-margin segments and leveraging cost efficiencies positions it as a resilient and cheapest player in the snack industry.


Prataap Snacks: Market Expansion, Challenges, and Future Plans

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gopal-snacks-ltd" target="_blank" data-smartkarma-citation="entities:40960:1" rel="noopener">Gopal Snacks (1592789D IN)</a> IPO worth INR 6.5 bn is live on the bourses. </li>
<li>The company is a prominent snacks manufacturer in India, especially in the state of Gujarat. It boasts one of the highest fixed asset turnover ratio and high ROCEs. </li>
<li>On the flipside, caution must remain on its dull revenue growth post F22 and on its related party transactions, especially with promoter companies.</li>
</ul>



Gopal Snacks (1592789D IN) IPO worth INR 6.5 bn is live on the bourses. 
The company is a prominent snacks manufacturer in India, especially in the state of Gujarat. It boasts one of the highest fixed asset turnover ratio and high ROCEs. 
On the flipside, caution must remain on its dull revenue growth post F22 and on its related party transactions, especially with promoter companies.


India

Gopal Snacks Limited provides packaged food products. The Company offers a wide variety of savory products, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, snack pellets and extruder snacks, along with consumer goods that include papad, spices, gram flour or besan, noodles, rusk, and soan papdi. Gopal Snacks serves customers in India.

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Gopal Snacks (GOPAL IN)

From Tax Tailwind to Volume Surge: Bikaji’s Next Growth Phase

Bikaji poised to gain market share with lower consumer prices post-GST rate cut, expecting volume growth and sustained margins without major capex.

Sudarshan Bhandari

Namaste India 🙏 | Earnings Editions Are Back

Focus on key earnings and conference calls. Top Large Cap Bullish Ideas: HDFC Asset Management, Bajaj Auto, Pvr Inox. Bearish view on D.B. Corp,...

Pranav Bhavsar

Prataap Snacks: Market Expansion, Challenges, and Future Plans

Prataap Snacks strategic mfg expansions support its growth strategy, despite challenges with RM costs and overheads in recent Q1. The company is...

Sudarshan Bhandari

Gopal Snacks Ltd IPO- Forensic Analysis

Gopal Snacks boasts high fixed asset turnover and ROCE but one should also take in account the slow revenue growth and related party transactions.

Nitin Mangal

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From Tax Tailwind to Volume Surge: Bikaji’s Next Growth Phase

​Bikaji poised to gain market share with lower consumer prices post-GST rate cut, expecting volume growth and sustained margins without major capex.

Sudarshan Bhandari

Namaste India 🙏 | Earnings Editions Are Back

Focus on key earnings and conference calls. Top Large Cap Bullish Ideas: HDFC Asset Management, Bajaj Auto, Pvr Inox. Bearish view on D.B. Corp,...

Pranav Bhavsar

Prataap Snacks: Market Expansion, Challenges, and Future Plans

​Prataap Snacks strategic mfg expansions support its growth strategy, despite challenges with RM costs and overheads in recent Q1. The company is...

Sudarshan Bhandari

Gopal Snacks Ltd IPO- Forensic Analysis

​Gopal Snacks boasts high fixed asset turnover and ROCE but one should also take in account the slow revenue growth and related party transactions.

Nitin Mangal

Bikaji poised to gain market share with lower consumer prices post-GST rate cut, expecting volume growth and sustained margins without major capex.

Prataap Snacks strategic mfg expansions support its growth strategy, despite challenges with RM costs and overheads in recent Q1. The company is...

Gopal Snacks boasts high fixed asset turnover and ROCE but one should also take in account the slow revenue growth and related party transactions.