Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

<ul>
<li>While focus on dividend yield is common, we think secular growth in DPS over a long period of time is a stronger marker of robust earnings trajectory and shareholder friendliness. </li>
<li>Among stocks in Asian EM and DM, we screen 50 that raised their DPS every year over the past decade - a commendable performance given earnings dislocations during this period.</li>
<li>Stocks from Japan (24), HK (10), onshore China (6), India (6), Singapore (2) and Taiwan (2) make up our list. 10 are large and liquid with strong forecast EPS growth.</li>
</ul>


While focus on dividend yield is common, we think secular growth in DPS over a long period of time is a stronger marker of robust earnings trajectory and shareholder friendliness. 
Among stocks in Asian EM and DM, we screen 50 that raised their DPS every year over the past decade - a commendable performance given earnings dislocations during this period.
Stocks from Japan (24), HK (10), onshore China (6), India (6), Singapore (2) and Taiwan (2) make up our list. 10 are large and liquid with strong forecast EPS growth.


Asian Equities: Secular DPS Growth Matters, Not Just Dividend Yield. Presenting Our "Asia 50".

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 Derivatives

Tata Motors Passenger Vehicles / Equity Derivatives

<ul>
<li>The Chinese slowdown and JLR’s ICE phase-out pressure near-term margins, but Indian PV growth and EV leadership offer a strong domestic counterbalance.</li>
<li>Tata Motors is demerging its Commercial Vehicle and Finance arms to sharpen focus and unlock value across its core Passenger Vehicle and JLR businesses.</li>
<li>Tata Motors is transitioning from a cyclical turnaround story to a long-term structural play on India’s mobility and global EV transformation.</li>
</ul>


The Chinese slowdown and JLR’s ICE phase-out pressure near-term margins, but Indian PV growth and EV leadership offer a strong domestic counterbalance.
Tata Motors is demerging its Commercial Vehicle and Finance arms to sharpen focus and unlock value across its core Passenger Vehicle and JLR businesses.
Tata Motors is transitioning from a cyclical turnaround story to a long-term structural play on India’s mobility and global EV transformation.


Tata Motors: Is the Worst Finally Over? A Turnaround & Demerger Play

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/skf-india-ltd" target="_blank" data-smartkarma-citation="entities:4984:1" rel="noopener">SKF India Ltd (SKF IN)</a> has announced the demerger of its industrial business, which will be listed separately for enhanced focus and operational efficiency in both segments.</li>
<li>The company’s automotive business has high volume but low margins, whereas the industrial segment offers higher margins, highlighting a significant contrast in profitability between the two business segments.</li>
<li>The automotive business would attract investors seeking long-term, steady growth, while the industrial segment would appeal to investors focused on higher margins and more lucrative returns.</li>
</ul>



SKF India Ltd (SKF IN) has announced the demerger of its industrial business, which will be listed separately for enhanced focus and operational efficiency in both segments.
The company’s automotive business has high volume but low margins, whereas the industrial segment offers higher margins, highlighting a significant contrast in profitability between the two business segments.
The automotive business would attract investors seeking long-term, steady growth, while the industrial segment would appeal to investors focused on higher margins and more lucrative returns.


Event Driven- SKF India Demerger: The Automotive & Industrial Split

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

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

<ul>
<li>Our flash checks across a couple of dealers indicate pressure on margins across the industry. <a href="https://www.smartkarma.com/entities/voltas-ltd" target="_blank" data-smartkarma-citation="entities:19924:1" rel="noopener">Voltas Ltd (VOLT IN)</a> is trying hard to gain market share.</li>
<li>Other names discussed include <a href="https://www.smartkarma.com/entities/pnb-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:23613:1" rel="noopener">PNB Housing Finance Ltd (PNBHOUSI IN)</a>, <a href="https://www.smartkarma.com/entities/vedant-fashions-limited" target="_blank" data-smartkarma-citation="entities:34260:1" rel="noopener">Vedant Fashions (MANYAVAR IN)</a> and <a href="https://www.smartkarma.com/entities/bandhan-bank-ltd" target="_blank" data-smartkarma-citation="entities:26705:1" rel="noopener">Bandhan Bank Ltd (BANDHAN IN)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/varun-beverages-ltd" target="_blank" data-smartkarma-citation="entities:23653:1" rel="noopener">Varun Beverages (VBL IN)</a> and <a href="https://www.smartkarma.com/entities/schaeffler-india-ltd" target="_blank" data-smartkarma-citation="entities:6434:1" rel="noopener">Schaeffler India (SCHFL IN)</a> show up as interesting ARs to read. </li>
</ul>


Our flash checks across a couple of dealers indicate pressure on margins across the industry. Voltas Ltd (VOLT IN) is trying hard to gain market share.
Other names discussed include PNB Housing Finance Ltd (PNBHOUSI IN), Vedant Fashions (MANYAVAR IN) and Bandhan Bank Ltd (BANDHAN IN). 

Varun Beverages (VBL IN) and Schaeffler India (SCHFL IN) show up as interesting ARs to read. 


[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

India

Schaeffler India Limited manufactures fabricate metal and hardware. The Company produces ball, cylindrical, wheel, and spherical bearing, as well as other related accessories. Schaeffler India serves customers in India.

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Schaeffler India (SCHFL IN)

Asian Equities: Secular DPS Growth Matters, Not Just Dividend Yield. Presenting Our "Asia 50".

Focusing on secular DPS growth over the past decade, we screen 50 Asian stocks, from JP (24), HK (10), CN (6), India (6), SG (2) & TW (2). They...

Manishi Raychaudhuri

Tata Motors: Is the Worst Finally Over? A Turnaround & Demerger Play

Tata Motors shareholders have given approval for the proposed demerger of the commercial Vehicle business into a separate, listed entity with a...

Sudarshan Bhandari

Event Driven- SKF India Demerger: The Automotive & Industrial Split

SKF India Ltd to demerge industrial business for enhanced focus and operational efficiency, highlighting significant contrast in profitability...

Nimish Maheshwari

[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...

Pranav Bhavsar

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Secular DPS Growth Matters, Not Just Dividend Yield. Presenting Our "Asia 50".

​Focusing on secular DPS growth over the past decade, we screen 50 Asian stocks, from JP (24), HK (10), CN (6), India (6), SG (2) & TW (2). They...

Manishi Raychaudhuri

Tata Motors: Is the Worst Finally Over? A Turnaround & Demerger Play

Tata Motors shareholders have given approval for the proposed demerger of the commercial Vehicle business into a separate, listed entity with a...

Sudarshan Bhandari

Event Driven- SKF India Demerger: The Automotive & Industrial Split

​SKF India Ltd to demerge industrial business for enhanced focus and operational efficiency, highlighting significant contrast in profitability...

Nimish Maheshwari

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

[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

​Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...

Pranav Bhavsar

Focusing on secular DPS growth over the past decade, we screen 50 Asian stocks, from JP (24), HK (10), CN (6), India (6), SG (2) & TW (2). They...

SKF India Ltd to demerge industrial business for enhanced focus and operational efficiency, highlighting significant contrast in profitability...

Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...