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

<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

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

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

Forensic Accounting

Ramkrishna Forgings / Forensic Accounting

<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>  is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons &amp; coach and engineering parts.</li>
<li>On inspection of the annual report, there were several red flags visible; pertaining to accounting and the overall health of the company.</li>
<li>Most prominent forensic checks included misstatement of operating cash flows, Debt alarms, working capital mis-management and some governance setbacks.</li>
</ul>



Ramkrishna Forgings (RMKF IN)  is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons &amp; coach and engineering parts.
On inspection of the annual report, there were several red flags visible; pertaining to accounting and the overall health of the company.
Most prominent forensic checks included misstatement of operating cash flows, Debt alarms, working capital mis-management and some governance setbacks.


Ramakrishna Forgings Ltd- Forensic Review

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

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

Ramakrishna Forgings Ltd- Forensic Review

On inspection of annual report, the most prominent forensic checks included misstatement of operating cash flows, Debt alarms, working capital mis...

Nitin Mangal

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

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

Ramakrishna Forgings Ltd- Forensic Review

On inspection of annual report, the most prominent forensic checks included misstatement of operating cash flows, Debt alarms, working capital mis...

Nitin Mangal

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