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

Prince Pipes And Fittings / Equity Bottom-Up

<ul>
<li>Prince Pipes entered the premium bathware segment with the Aquel acquisition, expanding into lifestyle plumbing beyond traditional piping systems.</li>
<li>This move broadens its addressable market and margin profile, creating cross-selling opportunities across its large dealer network. 
</li>
<li>With margin recovery likely and industry destocking easing, Prince Pipes appears well-positioned for rerating and multi-year profit growth.</li>
</ul>


Prince Pipes entered the premium bathware segment with the Aquel acquisition, expanding into lifestyle plumbing beyond traditional piping systems.
This move broadens its addressable market and margin profile, creating cross-selling opportunities across its large dealer network. 

With margin recovery likely and industry destocking easing, Prince Pipes appears well-positioned for rerating and multi-year profit growth.


The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

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

Dorf-Ketal Chemicals Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dorf-ketal-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:44325:1" rel="noopener">Dorf-Ketal Chemicals Ltd (998552Z IN)</a> (DKCI) is looking to raise about US$579m in its upcoming India IPO.</li>
<li>DKCI is an R&amp;D and innovation-focused global manufacturer and supplier of specialty chemicals, catering to hydrocarbons and industrial supply chains, and customers with diverse applications across various industrial segments.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Dorf-Ketal Chemicals Ltd (998552Z IN) (DKCI) is looking to raise about US$579m in its upcoming India IPO.
DKCI is an R&amp;D and innovation-focused global manufacturer and supplier of specialty chemicals, catering to hydrocarbons and industrial supply chains, and customers with diverse applications across various industrial segments.
In this note, we talk about the not-so-positive aspects of the deal.


Dorf-Ketal Chemicals India Pre-IPO - The Negatives - Elevated Borrowings and Tariff Uncertainty

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dorf-ketal-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:44325:1" rel="noopener">Dorf-Ketal Chemicals Ltd (998552Z IN)</a> (DKCI) is looking to raise about US$579m in its upcoming India IPO.</li>
<li>DKCI is an R&amp;D and innovation-focused global manufacturer and supplier of specialty chemicals, catering to hydrocarbons and industrial supply chains, and customers with diverse applications across various industrial segments.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Dorf-Ketal Chemicals Ltd (998552Z IN) (DKCI) is looking to raise about US$579m in its upcoming India IPO.
DKCI is an R&amp;D and innovation-focused global manufacturer and supplier of specialty chemicals, catering to hydrocarbons and industrial supply chains, and customers with diverse applications across various industrial segments.
In this note, we talk about the positive aspects of the deal.


Dorf-Ketal Chemicals India Pre-IPO -The Positives - Strategic Blend of Organic & Inorganic Expansion

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>Q3FY2025 earnings lagged estimates led by sharp fall in PVC prices and weak infrastructure demand.</li><li>The management is confident of achieving its overall volume growth guidance of 14-15% y-o-y in FY25 (Q4 volume growth should be over 30% for this).</li><li>Consolidated OPM guidance lowered again to 13.5-14% from 14.5-15.25% in the last quarter.</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.

Q3FY2025 earnings lagged estimates led by sharp fall in PVC prices and weak infrastructure demand.The management is confident of achieving its overall volume growth guidance of 14-15% y-o-y in FY25 (Q4 volume growth should be over 30% for this).Consolidated OPM guidance lowered again to 13.5-14% from 14.5-15.25% in the last quarter.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.

Supreme Industries Ltd - Weak Result; Maintain Buy on Long Term Prospects

<ul><li>Q2FY2025 earnings were hit by the sharp fall in PVC prices, weak infrastructure demand and extended monsoons.</li><li>However, stabilization of PVC prices at lower levels, expected pick-up in housing, agriculture and infrastructure demand is expected to result in strong H2 performance.</li><li>The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM guidance is of 14.5-15.25%.</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.

Q2FY2025 earnings were hit by the sharp fall in PVC prices, weak infrastructure demand and extended monsoons.However, stabilization of PVC prices at lower levels, expected pick-up in housing, agriculture and infrastructure demand is expected to result in strong H2 performance.The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM guidance is of 14.5-15.25%.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.

Supreme Industries Ltd - Strong H2 to Drive Growth; Maintain Buy

India

Supreme Industries Limited is India's largest plastics processing company, manufacturing a wide range of plastic products. Its core business activities span plastic piping systems, protective packaging, industrial components, and molded furniture. The company was founded in 1942 and is headquartered in Mumbai, India.

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Supreme Industries (SI IN)

The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...

Sudarshan Bhandari

Dorf-Ketal Chemicals India Pre-IPO - The Negatives - Elevated Borrowings and Tariff Uncertainty

Dorf-Ketal Chemicals India is looking to raise about US$579m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of...

Akshat Shah

Dorf-Ketal Chemicals India Pre-IPO -The Positives - Strategic Blend of Organic & Inorganic Expansion

Dorf-Ketal Chemicals India is looking to raise about US$579m in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Akshat Shah

Supreme Industries Ltd - Weak Result; Maintain Buy on Long Term Prospects

The management is confident of achieving its overall volume growth guidance of 14-15% y-o-y in FY25 (Q4 volume growth should be over 30% for this).

Sharekhan

Supreme Industries Ltd - Strong H2 to Drive Growth; Maintain Buy

The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM...

Sharekhan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: Prince Pipes- Margin Recovery and Market Expansion in Full Flow

​Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...

Sudarshan Bhandari

Dorf-Ketal Chemicals India Pre-IPO - The Negatives - Elevated Borrowings and Tariff Uncertainty

Dorf-Ketal Chemicals India is looking to raise about US$579m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of...

Akshat Shah

Dorf-Ketal Chemicals India Pre-IPO -The Positives - Strategic Blend of Organic & Inorganic Expansion

Dorf-Ketal Chemicals India is looking to raise about US$579m in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Akshat Shah

Supreme Industries Ltd - Weak Result; Maintain Buy on Long Term Prospects

The management is confident of achieving its overall volume growth guidance of 14-15% y-o-y in FY25 (Q4 volume growth should be over 30% for this).

Sharekhan

Supreme Industries Ltd - Strong H2 to Drive Growth; Maintain Buy

The management has guided for overall volume growth of 14-15% y-o-y and plastic piping volume growth of 16-18% y-o-y in FY2025. Consolidated OPM...

Sharekhan

Prince Pipes expands into premium bathware segment through Aquel acquisition, creating cross-selling opportunities and positioning for profit...