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.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>In <a href="https://www.smartkarma.com/entities/sambhv-steel-tubes-limited" target="_blank" data-smartkarma-citation="entities:45317:1" rel="noopener">Sambhv Steel Tubes (SAMBHV IN)</a>, the anchor investor lock-in expiry ends brought expected selling pressure, testing the stock's resilience and investor conviction in its fundamentals.</li>
<li>The company posted record Q1 revenue and profit, driven by strong volumes and margin expansion from its strategic value-added product focus.</li>
<li>Management guides for sustained 12-13% EBITDA margins, backed by aggressive brownfield and greenfield expansions to capture future market demand.</li>
</ul>


In Sambhv Steel Tubes (SAMBHV IN), the anchor investor lock-in expiry ends brought expected selling pressure, testing the stock's resilience and investor conviction in its fundamentals.
The company posted record Q1 revenue and profit, driven by strong volumes and margin expansion from its strategic value-added product focus.
Management guides for sustained 12-13% EBITDA margins, backed by aggressive brownfield and greenfield expansions to capture future market demand.


Sambhv Steel: Anchor Lock-In Opens, Bet on Capacity Expansion, Debt Reduction & Value Addition

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hindware-home-innovation-limited" target="_blank" data-smartkarma-citation="entities:44385:1" rel="noopener">Hindware Home Innovation (HINDWARE IN)</a> plans to demerge its consumer appliances division into a separate listed entity.</li>
<li>Demerger removes loss-making drag, improving profitability and segment-specific valuation clarity.</li>
<li>Unlocks hidden value; better execution with new CEO with clear growth trajectory may lead further value creation for shareholders.</li>
</ul>



Hindware Home Innovation (HINDWARE IN) plans to demerge its consumer appliances division into a separate listed entity.
Demerger removes loss-making drag, improving profitability and segment-specific valuation clarity.
Unlocks hidden value; better execution with new CEO with clear growth trajectory may lead further value creation for shareholders.


Hindware Home Innovation Ltd: Will Restructuring Change the Company’s Fortunes?

External broker reports(aggregated public sources), IDBI Capital

IDBI Capital

External broker reports(aggregated public sources)

<p>We initiate coverage on Surya Roshni (Surya) with a BUY rating and a target price of Rs694. Surya is the second largest manufacturer of steel pipes (contributes 67% to EBITDA) and also the second largest LED manufacturer in India. With focus on improvement in product mix in steel pipes segment, we expect its margins to improve over the next two-three years. In Lighting &amp; Consumer Durables segment, we anticipate strong growth in segment revenue led by rising demand for LED lights in India and also import substitution.</p><div class="content-highlight"><em>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.</em></div>

We initiate coverage on Surya Roshni (Surya) with a BUY rating and a target price of Rs694. Surya is the second largest manufacturer of steel pipes (contributes 67% to EBITDA) and also the second largest LED manufacturer in India. With focus on improvement in product mix in steel pipes segment, we expect its margins to improve over the next two-three years. In Lighting &amp; Consumer Durables segment, we anticipate strong growth in segment revenue led by rising demand for LED lights in India and also import substitution.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.

Surya Roshni: Backend Infrastructure Ready as Opportunities Galore

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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<ul>
<li>Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.</li>
<li>Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.</li>
<li>Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.</li>
</ul>


Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.
Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.
Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.


2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

India

Surya Roshni Limited manufactures cold rolled steel strips, pipes and tubes, in addition to lamps and other lighting accessories.

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Surya Roshni (SYR IN)

Sambhv Steel: Anchor Lock-In Opens, Bet on Capacity Expansion, Debt Reduction & Value Addition

Anchor investor lock-in expiry at Sambhv Steel Tubes tests stock resilience and investor conviction, despite record Q1 performance and aggressive...

Nimish Maheshwari

Hindware Home Innovation Ltd: Will Restructuring Change the Company’s Fortunes?

Hindware Home Innovation to demerge consumer appliances division, improving profitability and unlocking hidden value for shareholders.

Nimish Maheshwari

Surya Roshni: Backend Infrastructure Ready as Opportunities Galore

We initiate coverage on Surya Roshni (Surya) with a BUY rating and a target price of Rs694. Surya is the second largest manufacturer of steel pipes...

IDBI Capital

2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

Polycab is well-placed to see strong earnings growth over the next 3 years starting FY24. We project a 65%+ upside potential, bulk of which could...

Ankit Agrawal, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sambhv Steel: Anchor Lock-In Opens, Bet on Capacity Expansion, Debt Reduction & Value Addition

​Anchor investor lock-in expiry at Sambhv Steel Tubes tests stock resilience and investor conviction, despite record Q1 performance and aggressive...

Nimish Maheshwari

Hindware Home Innovation Ltd: Will Restructuring Change the Company’s Fortunes?

​Hindware Home Innovation to demerge consumer appliances division, improving profitability and unlocking hidden value for shareholders.

Nimish Maheshwari

Surya Roshni: Backend Infrastructure Ready as Opportunities Galore

We initiate coverage on Surya Roshni (Surya) with a BUY rating and a target price of Rs694. Surya is the second largest manufacturer of steel pipes...

IDBI Capital

2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

Polycab is well-placed to see strong earnings growth over the next 3 years starting FY24. We project a 65%+ upside potential, bulk of which could...

Ankit Agrawal, CFA

Anchor investor lock-in expiry at Sambhv Steel Tubes tests stock resilience and investor conviction, despite record Q1 performance and aggressive...

Hindware Home Innovation to demerge consumer appliances division, improving profitability and unlocking hidden value for shareholders.