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>
<a href="https://www.smartkarma.com/entities/ramkrishna-forgings-ltd" target="_blank" data-smartkarma-citation="entities:13278:1" rel="noopener">Ramkrishna Forgings (RMKF IN)</a> reported Q3 FY25 revenue growth of 8% and volume up 13.9%, alongside new capacity expansions and Rs. 697 crore in new orders.</li>
<li>These robust results and strategic capacity boosts underscore RKFL’s resilience, positioning it for sustainable growth amid raw material and market headwinds.</li>
<li>Investors should see the mixed Q3 performance as a sign of proactive investments that could translate into significant long-term value.</li>
</ul>



Ramkrishna Forgings (RMKF IN) reported Q3 FY25 revenue growth of 8% and volume up 13.9%, alongside new capacity expansions and Rs. 697 crore in new orders.
These robust results and strategic capacity boosts underscore RKFL’s resilience, positioning it for sustainable growth amid raw material and market headwinds.
Investors should see the mixed Q3 performance as a sign of proactive investments that could translate into significant long-term value.


Ramkrishna Forgings Q3 FY25 Earnings: A Mixed Bag with a Promising Outlook

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

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.

<ul><li>Adjusted PBT at Rs 126.3 crore was in line estimates, but APAT missed estimates on higher tax provisions.</li><li>Company continued to guide for a 15-20% volume growth guidance in near term.</li><li>Outlook We maintain a Buy rating with a revised PT of Rs.</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.

Adjusted PBT at Rs 126.3 crore was in line estimates, but APAT missed estimates on higher tax provisions.Company continued to guide for a 15-20% volume growth guidance in near term.Outlook We maintain a Buy rating with a revised PT of Rs.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.

Ramkrishna Forgings Ltd - Maintained Guidance on Robust Order Book

<ul>
<li>Rising exports, as it has higher margins and Growth in Non-Auto sectors</li>
<li>Acquisition of ACIL, JMT auto, TSUYO, and Multitech Auto will drive revenue</li>
<li>Reducing dependency on a single product or categories and single customer</li>
</ul>


Rising exports, as it has higher margins and Growth in Non-Auto sectors
Acquisition of ACIL, JMT auto, TSUYO, and Multitech Auto will drive revenue
Reducing dependency on a single product or categories and single customer


The Beat Ideas- Ramkrishna Forgings: A Strategic Growth Opportunity

<ul><li>We attended Ramkrishna Forgings’s (RKFL) Analyst Day meet and came out positive as the company is continuing its winning streak, backed by (1) China + 1/ Europe + 1 themes (2) Regular order inflow supported by capacity addition program (3) diversified revenue mix (4) Well-spread geographical mix and (5) continued customer addition.</li><li>Along with its latest acquisitions (JMT, MAPL, ACIL) the company is capable to supply new set of customers and gaining capability to supply assemblies.</li><li>Post attaining robust capabilities in CV segment, the company is poised to expand its presence in PVs and other non-automotive segment. </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.

We attended Ramkrishna Forgings’s (RKFL) Analyst Day meet and came out positive as the company is continuing its winning streak, backed by (1) China + 1/ Europe + 1 themes (2) Regular order inflow supported by capacity addition program (3) diversified revenue mix (4) Well-spread geographical mix and (5) continued customer addition.Along with its latest acquisitions (JMT, MAPL, ACIL) the company is capable to supply new set of customers and gaining capability to supply assemblies.Post attaining robust capabilities in CV segment, the company is poised to expand its presence in PVs and other non-automotive segment. 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.

Ramkrishna Forgings Ltd - Riding on Diversification

India

Ramkrishna Forgings Limited manufactures and supplies forged, machined, and fabricated components primarily for the automotive and railway sectors, but also serves industries such as farm equipment, earth moving, mining, construction, oil & gas, power, and general engineering. The company's diverse product portfolio includes crankshafts, axles, transmission gears, and bogie frames. Headquartered in Kolkata, India, the company was founded on November 12, 1981.

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Ramkrishna Forgings (RMKF IN)

Ramkrishna Forgings Q3 FY25 Earnings: A Mixed Bag with a Promising Outlook

Ramkrishna Forgings (RMKF IN) shows strong Q3 results with revenue up 8% and new orders worth Rs. 697 crore, indicating resilience and potential...

Sudarshan Bhandari

Ramkrishna Forgings Ltd - Maintained Guidance on Robust Order Book

Adjusted PBT at Rs 126.3 crore was in line estimates, but APAT missed estimates on higher tax provisions. Company continued to guide for a 15-20%...

Sharekhan

The Beat Ideas- Ramkrishna Forgings: A Strategic Growth Opportunity

A compelling strategic growth opportunity: Ramkrishna Forgings leveraging acquisitions to drive revenue, mitigates risk through reduced dependency...

Sudarshan Bhandari

Ramkrishna Forgings Ltd - Riding on Diversification

Along with its latest acquisitions (JMT, MAPL, ACIL) the company is capable to supply new set of customers and gaining capability to supply...

Sharekhan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ramkrishna Forgings Q3 FY25 Earnings: A Mixed Bag with a Promising Outlook

​Ramkrishna Forgings (RMKF IN) shows strong Q3 results with revenue up 8% and new orders worth Rs. 697 crore, indicating resilience and potential...

Sudarshan Bhandari

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

Ramkrishna Forgings Ltd - Maintained Guidance on Robust Order Book

Adjusted PBT at Rs 126.3 crore was in line estimates, but APAT missed estimates on higher tax provisions. Company continued to guide for a 15-20%...

Sharekhan

The Beat Ideas- Ramkrishna Forgings: A Strategic Growth Opportunity

A compelling strategic growth opportunity: Ramkrishna Forgings leveraging acquisitions to drive revenue, mitigates risk through reduced dependency...

Sudarshan Bhandari

Ramkrishna Forgings Ltd - Riding on Diversification

Along with its latest acquisitions (JMT, MAPL, ACIL) the company is capable to supply new set of customers and gaining capability to supply...

Sharekhan

Ramkrishna Forgings (RMKF IN) shows strong Q3 results with revenue up 8% and new orders worth Rs. 697 crore, indicating resilience and potential...