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

Equity Bottom-Up

<ul>
<li>While the earnings season continues, this will be the final dedicated earnings edition.</li>
<li>For reference, the previous earnings editions are <a href="https://www.smartkarma.com/insights/week-8-namaste-india-earnings-edition-part-i" target="_blank" data-smartkarma-citation="insights:115688" rel="noopener">[Week 8] Namaste India 🙏 | Earnings Edition - Part I</a> &amp; <a href="https://www.smartkarma.com/insights/week-9-namaste-india-earnings-edition-part-ii" target="_blank" data-smartkarma-citation="insights:116224" rel="noopener">[Week 9] Namaste India 🙏 | Earnings Edition - Part II</a> </li>
<li>At the bottom, we provide a consolidated view of all earnings (~ 50) tracked so far and we would be happy to engage in discussions on any of them.</li>
</ul>


While the earnings season continues, this will be the final dedicated earnings edition.
For reference, the previous earnings editions are [Week 8] Namaste India 🙏 | Earnings Edition - Part I &amp; [Week 9] Namaste India 🙏 | Earnings Edition - Part II 
At the bottom, we provide a consolidated view of all earnings (~ 50) tracked so far and we would be happy to engage in discussions on any of them.


[Week 10] Namaste India 🙏 | Earnings Edition - Final Part

<ul>
<li>Our earnings coverage continues for the second edition and is expected to continue for one more week.</li>
<li>At the bottom, we provide a consolidated view of all earnings tracked so far (Bullish / Bearish) and would be happy to engage on any of them.</li>
<li>We also highlight the earnings of some of the global companies that have significant operations or growth in India.</li>
</ul>


Our earnings coverage continues for the second edition and is expected to continue for one more week.
At the bottom, we provide a consolidated view of all earnings tracked so far (Bullish / Bearish) and would be happy to engage on any of them.
We also highlight the earnings of some of the global companies that have significant operations or growth in India.


[Week 9] Namaste India 🙏 | Earnings Edition - Part II

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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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>Indiamart Intermesh Ltd (Indiamart) reported revenue of Rs 295 Cr in Q2FY24, up 5% QoQ and 23% YoY, which stood in line with our expectations.</li><li>The company’s operating profit stood at Rs 80 Cr, reporting a growth of 15% on a QoQ basis, which was led by lower employee costs during the quarter.</li><li>Its operating margins improved by 240bps to 27%, largely driven by moderated employee expenses.</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.

Indiamart Intermesh Ltd (Indiamart) reported revenue of Rs 295 Cr in Q2FY24, up 5% QoQ and 23% YoY, which stood in line with our expectations.The company’s operating profit stood at Rs 80 Cr, reporting a growth of 15% on a QoQ basis, which was led by lower employee costs during the quarter.Its operating margins improved by 240bps to 27%, largely driven by moderated employee expenses.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.

Indiamart Intermesh Ltd - Robust Result; Market Share Gain Continues

<ul>
<li>The trade remains Long Nifty with a watch on earnings. </li>
<li>
<a href="https://www.smartkarma.com/entities/infosys-ltd" target="_blank" data-smartkarma-citation="entities:267:1" rel="noopener">Infosys Ltd (INFO IN)</a> reported a beat on revenues and a miss on EPS, heading into seasonally weak quarters is the pain now consensus? </li>
<li>Other names discussed include <a href="https://www.smartkarma.com/entities/delta-corp-ltd" target="_blank" data-smartkarma-citation="entities:4627:1" rel="noopener">Delta Corp Ltd (DELTA IN)</a>, <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> and <a href="https://www.smartkarma.com/entities/dmart" target="_blank" data-smartkarma-citation="entities:23656:1" rel="noopener">Avenue Supermarts Ltd (DMART IN)</a>. </li>
</ul>


The trade remains Long Nifty with a watch on earnings. 

Infosys Ltd (INFO IN) reported a beat on revenues and a miss on EPS, heading into seasonally weak quarters is the pain now consensus? 
Other names discussed include Delta Corp Ltd (DELTA IN), HDFC Asset Management Co Ltd (HDFCAMC IN) and Avenue Supermarts Ltd (DMART IN). 


[Week 7] Namaste India 🙏 | Infosys Ltd (INFO IN) | Seasonal Sluggishness Now Consensus

<ul><li>Indiamart provides online B2B marketplace for business products and services.</li><li>It makes it easier to do business by connecting buyers (Indian small and medium enterprises SMEs, and large corporate) and sellers across product categories and geographies in India through business enablement solutions.</li><li>It provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.</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.

Indiamart provides online B2B marketplace for business products and services.It makes it easier to do business by connecting buyers (Indian small and medium enterprises SMEs, and large corporate) and sellers across product categories and geographies in India through business enablement solutions.It provides ease and convenience to the buyers by offering a wide assortment of products and a responsive seller base while offering lead generation, lead management and payment solutions to its sellers.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.

Pick of the Week - Indiamart Intermesh Ltd - 31 JULY 2023

India

IndiaMART InterMESH operates as an online B2B marketplace, connecting buyers with suppliers across India for a wide range of products and services, primarily serving small and medium enterprises. The platform facilitates business interactions and offers solutions like lead generation and digital marketing. It is headquartered in Noida, Uttar Pradesh, India, and was founded in 1996.

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IndiaMART (INMART IN)

[Week 10] Namaste India 🙏 | Earnings Edition - Final Part

This Insight is the final dedicated earnings edition, providing a consolidated view of all earnings tracked so far. At the end we also provide...

Pranav Bhavsar

[Week 9] Namaste India 🙏 | Earnings Edition - Part II

Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...

Pranav Bhavsar

[Week 7] Namaste India 🙏 | Infosys Ltd (INFO IN) | Seasonal Sluggishness Now Consensus

The trade remains long Nifty. Names discussed include INFO, DMART, DELTACORP and HDFCAMC. The next two weeks are going to be busy as the full...

Pranav Bhavsar

Pick of the Week - Indiamart Intermesh Ltd - 31 JULY 2023

It makes it easier to do business by connecting buyers (Indian small and medium enterprises SMEs, and large corporate) and sellers across product...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Week 10] Namaste India 🙏 | Earnings Edition - Final Part

​This Insight is the final dedicated earnings edition, providing a consolidated view of all earnings tracked so far. At the end we also provide...

Pranav Bhavsar

[Week 9] Namaste India 🙏 | Earnings Edition - Part II

​Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...

Pranav Bhavsar

Indiamart Intermesh Ltd - Robust Result; Market Share Gain Continues

Indiamart Intermesh Ltd (Indiamart) reported revenue of Rs 295 Cr in Q2FY24, up 5% QoQ and 23% YoY, which stood in line with our expectations.

Axis Direct

[Week 7] Namaste India 🙏 | Infosys Ltd (INFO IN) | Seasonal Sluggishness Now Consensus

The trade remains long Nifty. Names discussed include INFO, DMART, DELTACORP and HDFCAMC. The next two weeks are going to be busy as the full...

Pranav Bhavsar

Pick of the Week - Indiamart Intermesh Ltd - 31 JULY 2023

It makes it easier to do business by connecting buyers (Indian small and medium enterprises SMEs, and large corporate) and sellers across product...

Axis Direct

This Insight is the final dedicated earnings edition, providing a consolidated view of all earnings tracked so far. At the end we also provide...

Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...