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.

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Thematic (Sector/Industry)

<ul>
<li>China's Politburo formalized "anti-involution" policy in July 2024, escalating through 2025 to mandate capacity cuts, retire aging petrochemical plants, and penalize destructive price competition in chemicals and beyond.</li>
<li>China accounts for roughly 46% of global chemical production. Structural capacity rationalization there directly shifts pricing power, trade flows, and market share for Indian chemical players competing on cost, complexity.</li>
<li>Companies with complex chemistry moats, low Chinese raw-material dependence, and long-term customer contracts stand to gain most; commodity-adjacent players face a more uneven ride. </li>
</ul>


China's Politburo formalized "anti-involution" policy in July 2024, escalating through 2025 to mandate capacity cuts, retire aging petrochemical plants, and penalize destructive price competition in chemicals and beyond.
China accounts for roughly 46% of global chemical production. Structural capacity rationalization there directly shifts pricing power, trade flows, and market share for Indian chemical players competing on cost, complexity.
Companies with complex chemistry moats, low Chinese raw-material dependence, and long-term customer contracts stand to gain most; commodity-adjacent players face a more uneven ride. 


What China's Anti-Involution Drive Means for India's Chemical Sector?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows</li>
<li>This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.</li>
<li>Global exporters like <a href="https://www.smartkarma.com/entities/coforge-ltd" target="_blank" data-smartkarma-citation="entities:8639:1" rel="noopener">Coforge (COFORGE IN)</a> and <a href="https://www.smartkarma.com/entities/sagility-india-limited" target="_blank" data-smartkarma-citation="entities:43717:1" rel="noopener">Sagility India (SAGILITY IN)</a> emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.</li>
</ul>


The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows
This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.
Global exporters like Coforge (COFORGE IN) and Sagility India (SAGILITY IN) emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.


The Rupee at 95/$: Sectoral Winners and Losers

<ul>
<li>A 23-108% MoM price spike across key chemicals in Mar-26, driven by Strait of Hormuz closure, Gulf force majeures, is set to deliver exceptional earnings for some Indian chemical companies.</li>
<li>Companies that built inventory in January at cycle-low prices, particularly in Phenol, Acetone, Benzene, Toluene, and VAM, now sit on paper gains of 20-70%, a rare intra-quarter windfall.</li>
<li>The companies most worth watching are those who own their raw material chain and have limited direct exposure to Middle East imports.</li>
</ul>


A 23-108% MoM price spike across key chemicals in Mar-26, driven by Strait of Hormuz closure, Gulf force majeures, is set to deliver exceptional earnings for some Indian chemical companies.
Companies that built inventory in January at cycle-low prices, particularly in Phenol, Acetone, Benzene, Toluene, and VAM, now sit on paper gains of 20-70%, a rare intra-quarter windfall.
The companies most worth watching are those who own their raw material chain and have limited direct exposure to Middle East imports.


Indian Chemical: War, Freight, Fire & Inventory Windfall in Q4

<ul>
<li>
Global chemical inventory levels are at decade lows, and product prices have begun stabilizing across key segments, signaling the early stages of a demand-led recovery. </li>
<li>The capex cycle is largely behind us, setting the stage for strong free cash flow generation even as select sub-segments like amines, fluorine, and pyridines see pricing and volume tailwinds. 
</li>
<li>We adopt a selective bullish view, with momentum expected in companies that have strategically aligned capex, strong product-market fit, and established global customer relationships. 
</li>
</ul>



Global chemical inventory levels are at decade lows, and product prices have begun stabilizing across key segments, signaling the early stages of a demand-led recovery. 
The capex cycle is largely behind us, setting the stage for strong free cash flow generation even as select sub-segments like amines, fluorine, and pyridines see pricing and volume tailwinds. 

We adopt a selective bullish view, with momentum expected in companies that have strategically aligned capex, strong product-market fit, and established global customer relationships. 



Thematic Report on What’s Different About the Chemical Recovery This Time?

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

Equity Bottom-Up

<ul>
<li>This insight details about the weekly changes in the holding company discount in India.</li>
<li>We track the reasons for change in the holdco discount if any.</li>
<li>While this note captures 4 holding companies, we intend to add more names in coming weeks.</li>
</ul>


This insight details about the weekly changes in the holding company discount in India.
We track the reasons for change in the holdco discount if any.
While this note captures 4 holding companies, we intend to add more names in coming weeks.


HoldCo Weekly (18 Sep): Where’s the Discount?

India

SRF Limited is a multi-business Indian multinational engaging in the manufacture of chemical based industrial intermediates. The Company has a business portfolio that encompasses technical textiles, chemicals, packaging films and engineering plastics.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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SRF Ltd (SRF IN)

What China's Anti-Involution Drive Means for India's Chemical Sector?

China's "anti-involution" policy will reshape global chemical production, benefiting companies with complex chemistry moats and long-term...

Nimish Maheshwari

The Rupee at 95/$: Sectoral Winners and Losers

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Indian Chemical: War, Freight, Fire & Inventory Windfall in Q4

Indian chemical companies are poised for exceptional earnings due to a significant price spike in key chemicals, driven by supply disruptions in...

Sudarshan Bhandari

Thematic Report on What’s Different About the Chemical Recovery This Time?

Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...

Sudarshan Bhandari

HoldCo Weekly (18 Sep): Where’s the Discount?

This insight details about the weekly changes in the holding company discount in India and where do we see near term triggers.

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

What China's Anti-Involution Drive Means for India's Chemical Sector?

​China's "anti-involution" policy will reshape global chemical production, benefiting companies with complex chemistry moats and long-term...

Nimish Maheshwari

The Rupee at 95/$: Sectoral Winners and Losers

​Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Indian Chemical: War, Freight, Fire & Inventory Windfall in Q4

​Indian chemical companies are poised for exceptional earnings due to a significant price spike in key chemicals, driven by supply disruptions in...

Sudarshan Bhandari

Thematic Report on What’s Different About the Chemical Recovery This Time?

​Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...

Sudarshan Bhandari

HoldCo Weekly (18 Sep): Where’s the Discount?

This insight details about the weekly changes in the holding company discount in India and where do we see near term triggers.

Sreemant Dudhoria

China's "anti-involution" policy will reshape global chemical production, benefiting companies with complex chemistry moats and long-term...

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Indian chemical companies are poised for exceptional earnings due to a significant price spike in key chemicals, driven by supply disruptions in...

Global chemical inventory levels are at decade lows, signaling the early stages of a demand-led recovery. Selective bullish view on companies with...