Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

<ul>
<li>Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.</li>
<li>Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.</li>
<li>Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.</li>
</ul>


Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.
Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.
Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.


2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

Independent Research Analyst

Mamta Verma

DC India Research

DC India Research LLP (DCIR) is based out of Mumbai, India.

We specialize in providing customized, independent research across listed and unlisted companies in India across equities and credit including sectoral research. Our customers include India focussed PE funds, special situation funds, domestic AMCs, Wealth Advisory& PMS firms, Rating Agencies & Investment Advisors. 

The DCIR board consists of prominent names from the industry as well as CIO’s of Hedge funds.

My thoughts or hunch on probable direction of Indian markets and investing strategy -To my mind, investors - have mostly adjusted themselves to the new norms -<ol>
<li>Trade tensions and erratic commentary by D. Trump and counter-reactions by China. In all likelihood, this will linger on and keep swinging either ways. India as a market is full of domestic consumption-focused growth stocks and hence this should be supportive for investments. Any medium term impact on global growth due to trade…</li>
</ol>

My thoughts or hunch on probable direction of Indian markets and investing strategy -To my mind, investors - have mostly adjusted themselves to the new norms -
Trade tensions and erratic commentary by D. Trump and counter-reactions by China. In all likelihood, this will linger on and keep swinging either ways. India as a market is full of domestic consumption-focused growth stocks and hence this should be supportive for investments. Any medium term impact on global growth due to trade…


My Hunch, You May Say, on Indian Markets and Possible Investing Strategy

Background &amp; BusinessKEC International is predominantly a T&amp;D EPC company, with meaningful presence in international T&amp;D space which accounts for ~50% of its revenues. In the domestic T&amp;D segment it has a M. share of ~10%. It is present across all key markets globally such as South East Asia, Africa, LATAM and Middle East, wherein T&amp;D spending is seeing strong surge.The company’s other businesses include -  railways, civil and solar. Over the years, KECI has been able to enhance its presence in…

 Background &amp; BusinessKEC International is predominantly a T&amp;D EPC company, with meaningful presence in international T&amp;D space which accounts for ~50% of its revenues. In the domestic T&amp;D segment it has a M. share of ~10%. It is present across all key markets globally such as South East Asia, Africa, LATAM and Middle East, wherein T&amp;D spending is seeing strong surge.The company’s other businesses include -  railways, civil and solar. Over the years, KECI has been able to enhance its presence in…

KEC - Strong Execution + Margin Imp + Int Cost Red. To Drive 30% PAT CaGR & Re-Rating

India

KEC International is an Indian multinational company and a global Engineering, Procurement, and Construction (EPC) major. It specializes in power transmission and distribution, railways, civil, urban infrastructure, oil and gas pipelines, renewables, and cables. The company also manufactures electric power transmission towers and a range of power and special-purpose cables. KEC International is headquartered in Mumbai, India, and was founded on May 7, 1945.

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KEC International (KECI IN)

2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

Polycab is well-placed to see strong earnings growth over the next 3 years starting FY24. We project a 65%+ upside potential, bulk of which could...

Ankit Agrawal, CFA

My Hunch, You May Say, on Indian Markets and Possible Investing Strategy

My thoughts or hunch on probable direction of Indian markets and investing strategy -To my mind, investors - have mostly adjusted themselves to the...

DC India Research

KEC - Strong Execution + Margin Imp + Int Cost Red. To Drive 30% PAT CaGR & Re-Rating

Background & BusinessKEC International is predominantly a T&D EPC company, with meaningful presence in international T&D space which...

DC India Research

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