Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Thematic (Sector/Industry)

<ul>
<li>India's E-2W witnessed strong performance in January'2025,with registrations reaching 97,680 units. While this marked a recovery from the dip in December'2024,it remained lower than peak months of March and October'2024.</li>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> led the market,closely followed by <a href="https://www.smartkarma.com/entities/tvs-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:16123:1" rel="noopener">TVS Motor (TVSL IN)&amp;</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>.<a href="https://www.smartkarma.com/entities/ather-energy" target="_blank" data-smartkarma-citation="entities:43903:1" rel="noopener">Ather Energy (1207922D IN)</a>,<a href="https://www.smartkarma.com/entities/greaves-electric-mobility-ltd-geml" target="_blank" data-smartkarma-citation="entities:44227:1" rel="noopener">Greaves Electric Mobility Ltd (GEML) (1295040D IN) </a>also showed steady growth.</li>
<li>Market continues to be highly competitive,with top three players vying for leadership. Increasing consumer adoption,new product launches, and potential IPOs from key companies indicate dynamic year ahead for E-2W industry.</li>
</ul>


India's E-2W witnessed strong performance in January'2025,with registrations reaching 97,680 units. While this marked a recovery from the dip in December'2024,it remained lower than peak months of March and October'2024.

Ola Electric (OLAELEC IN) led the market,closely followed by TVS Motor (TVSL IN)&amp;Bajaj Auto Ltd (BJAUT IN).Ather Energy (1207922D IN),Greaves Electric Mobility Ltd (GEML) (1295040D IN) also showed steady growth.
Market continues to be highly competitive,with top three players vying for leadership. Increasing consumer adoption,new product launches, and potential IPOs from key companies indicate dynamic year ahead for E-2W industry.


India –Electric Two-Wheeler Sales Trend – January 2025

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>
<a href="https://www.smartkarma.com/entities/dfi-retail-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:7427:1" rel="noopener">DFI Retail (DFI SP)</a> : Improved profitability and robust cash flows makes the stock attractive with limited downside; it is trading at nearly 5% dividend yield.</li>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric IPO </a>was oversubscribed by 4.26 times and debuted at par with the issue price of Rs76 at the exchanges today</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

DFI Retail (DFI SP) : Improved profitability and robust cash flows makes the stock attractive with limited downside; it is trading at nearly 5% dividend yield.

Ola Electric IPO was oversubscribed by 4.26 times and debuted at par with the issue price of Rs76 at the exchanges today


Consumer Tales Aug Wk#2: DFI Retail Pivots, Kalyan Glitters, Ola Lists, FirstCry IPO Closes

<ul>
<li>Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (1700674D IN)</a> 's IPO launch, pricing, valuation and an attempt to peek into its yet undefined future growth in the rapidly expanding EV space.</li>
<li>Alcoholic beverage industry is not really in high spirits post-COVID. Worst could be past for <a href="https://www.smartkarma.com/entities/budweiser-brewing-co-apac-ltd" target="_blank" data-smartkarma-citation="entities:28077:1" rel="noopener">Budweiser Brewing APAC (1876 HK)</a> with likely recovery in premium beers and commodity price tailwinds.</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

Ola Electric (1700674D IN) 's IPO launch, pricing, valuation and an attempt to peek into its yet undefined future growth in the rapidly expanding EV space.
Alcoholic beverage industry is not really in high spirits post-COVID. Worst could be past for Budweiser Brewing APAC (1876 HK) with likely recovery in premium beers and commodity price tailwinds.


Consumer Tales, Aug#1:  Hola Ola Electric, Cheers Premium Beer, Thais to Get Handout

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> ’s AI debut was going to be a complicated one considering challenges highlighted privacy concerns over partnership with Chat GPT.</li>
<li>
<a href="https://www.smartkarma.com/entities/general-motors-co" target="_blank" data-smartkarma-citation="entities:18811:1" rel="noopener">General Motors (GM US)</a> Approves $6 Billion Share Buyback Amid Strong Gasoline Vehicle Demand</li>
<li>
<a href="https://www.smartkarma.com/entities/alaska-air-group-inc" target="_blank" data-smartkarma-citation="entities:19543:1" rel="noopener">Alaska Air Group (ALK US)</a> Loses Appeal in $160 Million Trademark Case with <a href="https://www.smartkarma.com/entities/virgin-america-inc" target="_blank" data-smartkarma-citation="entities:17423:1" rel="noopener">Virgin America (VA US)</a> Group</li>
</ul>



Apple (AAPL US) ’s AI debut was going to be a complicated one considering challenges highlighted privacy concerns over partnership with Chat GPT.

General Motors (GM US) Approves $6 Billion Share Buyback Amid Strong Gasoline Vehicle Demand

Alaska Air Group (ALK US) Loses Appeal in $160 Million Trademark Case with Virgin America (VA US) Group


#16 Business Buzz: Apple AI, GM's Buyback, Alaska Air Case and Ola Electric IPO

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

<ul>
<li>Ather Energy is reducing aluminium use in its scooters, replacing it with steel and iron in non-structural parts, targeting 10-15% cost savings under its new EL platform.</li>
<li>With aluminium prices rising ~14% in FY26 and limited pricing power, reducing bill-of-material costs becomes Ather’s key lever to protect and improve margins.</li>
<li>Ather’s material shift reflects a clear focus on cost efficiency and scale. If executed well, it can accelerate profitability and strengthen its position inV India’s competitive EV market.</li>
</ul>


Ather Energy is reducing aluminium use in its scooters, replacing it with steel and iron in non-structural parts, targeting 10-15% cost savings under its new EL platform.
With aluminium prices rising ~14% in FY26 and limited pricing power, reducing bill-of-material costs becomes Ather’s key lever to protect and improve margins.
Ather’s material shift reflects a clear focus on cost efficiency and scale. If executed well, it can accelerate profitability and strengthen its position inV India’s competitive EV market.


Ather Energy Cost Reset: Reducing Aluminium Dependency to Drive Profitability

India

Ola Electric is an Indian electric vehicle manufacturer that designs and manufactures electric two-wheelers, including the Ola S1 series, and produces battery cells. The company also offers charging solutions and energy storage products. Ola Electric is headquartered in Bengaluru, India, and was founded in 2017.

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Ola Electric (OLAELEC IN)

India –Electric Two-Wheeler Sales Trend – January 2025

India's E-2W market saw strong performance in Jan'25, led by Ola Electric,TVS Motor & Bajaj Auto. Competition remains fierce with potential IPOs &...

Sreemant Dudhoria

Consumer Tales Aug Wk#2: DFI Retail Pivots, Kalyan Glitters, Ola Lists, FirstCry IPO Closes

Weekly roundup of the latest investment reports and sector events in the consumer industry: Quarterly updates- DFI Retail, Kalyan Jewellers, Yum...

Devi Subhakesan

Consumer Tales, Aug#1: Hola Ola Electric, Cheers Premium Beer, Thais to Get Handout

Quick summary of our research published this week. Includes Ola Electric's IPO facts, pricing and valuation, Upside potential for Budweiser APAC...

Devi Subhakesan

#16 Business Buzz: Apple AI, GM's Buyback, Alaska Air Case and Ola Electric IPO

Apple's AI debut faces challenges over privacy concerns with Chat GPT partnership. GM approves $6 Bn share buyback amid strong gasoline vehicle...

Nimish Maheshwari

Ather Energy Cost Reset: Reducing Aluminium Dependency to Drive Profitability

Ather Energy is cutting aluminium use in scooters, opting for steel/iron to save costs amid rising aluminium prices, aiming for profitability and...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India –Electric Two-Wheeler Sales Trend – January 2025

​India's E-2W market saw strong performance in Jan'25, led by Ola Electric,TVS Motor & Bajaj Auto. Competition remains fierce with potential IPOs &...

Sreemant Dudhoria

Consumer Tales Aug Wk#2: DFI Retail Pivots, Kalyan Glitters, Ola Lists, FirstCry IPO Closes

Weekly roundup of the latest investment reports and sector events in the consumer industry: Quarterly updates- DFI Retail, Kalyan Jewellers, Yum...

Devi Subhakesan

Consumer Tales, Aug#1: Hola Ola Electric, Cheers Premium Beer, Thais to Get Handout

Quick summary of our research published this week. Includes Ola Electric's IPO facts, pricing and valuation, Upside potential for Budweiser APAC...

Devi Subhakesan

#16 Business Buzz: Apple AI, GM's Buyback, Alaska Air Case and Ola Electric IPO

​Apple's AI debut faces challenges over privacy concerns with Chat GPT partnership. GM approves $6 Bn share buyback amid strong gasoline vehicle...

Nimish Maheshwari

Ather Energy Cost Reset: Reducing Aluminium Dependency to Drive Profitability

​Ather Energy is cutting aluminium use in scooters, opting for steel/iron to save costs amid rising aluminium prices, aiming for profitability and...

Sudarshan Bhandari

India's E-2W market saw strong performance in Jan'25, led by Ola Electric,TVS Motor & Bajaj Auto. Competition remains fierce with potential IPOs &...

Apple's AI debut faces challenges over privacy concerns with Chat GPT partnership. GM approves $6 Bn share buyback amid strong gasoline vehicle...

Ather Energy is cutting aluminium use in scooters, opting for steel/iron to save costs amid rising aluminium prices, aiming for profitability and...