External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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

<ul><li>Sharekhan's research report onHindustan Unilever Company has identified six categories with potential to deliver high double-digit growth in coming years; expects 10 power brands to drive premiumisation.</li><li>It eyes low single-digit price growth and maintain OPM at current level in the near term; targets double-digit EPS growth in the long term.</li><li>Effective working capital management and strong cash conversion at ~100% will fuel capex; company to continue focusing on capital allocation, high-growth M&amp;As and return to shareholder.</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.

Sharekhan's research report onHindustan Unilever Company has identified six categories with potential to deliver high double-digit growth in coming years; expects 10 power brands to drive premiumisation.It eyes low single-digit price growth and maintain OPM at current level in the near term; targets double-digit EPS growth in the long term.Effective working capital management and strong cash conversion at ~100% will fuel capex; company to continue focusing on capital allocation, high-growth M&amp;As and return to shareholder.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.

Hindustan Unilever Ltd - Strong Growth Aspirations

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

<ul><li>In the analyst meet, the management reiterated its key growth strategies, which include growing the core, premiumising the portfolio, driving market development by investing in future categories, and strengthening leadership in emerging channels.</li><li>The company has maintained a strong leadership position across 85% of its portfolio and achieved a 200 bps market share gain between Mar-21 and Oct-24.</li><li>Over the past decade (FY14-24), revenue grew at approximately 8% CAGR, despite disruptions such as GST implementation, COVID-19, and inflation.</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.

In the analyst meet, the management reiterated its key growth strategies, which include growing the core, premiumising the portfolio, driving market development by investing in future categories, and strengthening leadership in emerging channels.The company has maintained a strong leadership position across 85% of its portfolio and achieved a 200 bps market share gain between Mar-21 and Oct-24.Over the past decade (FY14-24), revenue grew at approximately 8% CAGR, despite disruptions such as GST implementation, COVID-19, and inflation.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.

Hindustan Unilever Ltd - Analyst Meet Takeaways – Maintain BUY

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Carraro India Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/carraro-india-limited" target="_blank" data-smartkarma-citation="entities:43890:1" rel="noopener">Carraro India Limited (810618Z IN)</a> is looking to raise about US$216m in its India IPO.</li>
<li>Carraro India Limited (CIL), is an independent tier 1 solution provider of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Carraro India Limited (810618Z IN) is looking to raise about US$216m in its India IPO.
Carraro India Limited (CIL), is an independent tier 1 solution provider of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India.
In this note, we talk about the company’s historical performance.


Carraro India Pre-IPO - Strategic Partnerships and Related Party Risks

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

FineToday Holdings / Equity Capital Markets

<ul>
<li>CVC Capital is aiming to raise over US$500m, via selling some of its stake in <a href="https://www.smartkarma.com/entities/finetoday-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44092:1" rel="noopener">FineToday Holdings Co Ltd (289A JP)</a> in Japan.</li>
<li>FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>


CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan.
FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.
In this note, we talk about the not-so-positive aspects of the deal.


FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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>SEBI’s study reveals rising royalty payments by listed companies to related parties, highlighting doubling of payments to Rs. 10,779 crore in FY23 over a decade.</li>
<li>25% of firms pay royalties exceeding 20% of net profits, raising concerns about transparency, governance, and shareholder returns versus royalty prioritization.</li>
<li>SEBI's findings stress the urgency for enhanced royalty disclosures, policy revisions, and better scrutiny to protect minority shareholders and corporate governance standards.</li>
</ul>


SEBI’s study reveals rising royalty payments by listed companies to related parties, highlighting doubling of payments to Rs. 10,779 crore in FY23 over a decade.
25% of firms pay royalties exceeding 20% of net profits, raising concerns about transparency, governance, and shareholder returns versus royalty prioritization.
SEBI's findings stress the urgency for enhanced royalty disclosures, policy revisions, and better scrutiny to protect minority shareholders and corporate governance standards.


SEBI Study: Royalty Payments by Listed Companies to Related Parties

India

Hindustan Unilever Limited manufactures and distributes consumer products. The Company offers soap, detergent, personal care products and processed food, ice creams, cooking oils, and other related products. Hindustan Unilever serves customers worldwide.

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Hindustan Unilever (HUVR IN)

Hindustan Unilever Ltd - Strong Growth Aspirations

Sharekhan's research report onHindustan Unilever Company has identified six categories with potential to deliver high double-digit growth in coming...

Sharekhan

Hindustan Unilever Ltd - Analyst Meet Takeaways – Maintain BUY

The company has maintained a strong leadership position across 85% of its portfolio and achieved a 200 bps market share gain between Mar-21 and Oct...

Axis Direct

FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan. In this note, we talk...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hindustan Unilever Ltd - Strong Growth Aspirations

Sharekhan's research report onHindustan Unilever Company has identified six categories with potential to deliver high double-digit growth in coming...

Sharekhan

Hindustan Unilever Ltd - Analyst Meet Takeaways – Maintain BUY

The company has maintained a strong leadership position across 85% of its portfolio and achieved a 200 bps market share gain between Mar-21 and Oct...

Axis Direct

Carraro India Pre-IPO - Strategic Partnerships and Related Party Risks

Carraro India Limited is looking to raise about US$216m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan. In this note, we talk...

Sumeet Singh

SEBI Study: Royalty Payments by Listed Companies to Related Parties

​SEBI study shows listed companies increasing royalty payments to related parties, raising transparency and governance concerns, urging for better...

Nimish Maheshwari

SEBI study shows listed companies increasing royalty payments to related parties, raising transparency and governance concerns, urging for better...