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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tilaknagar-industries-ltd" target="_blank" data-smartkarma-citation="entities:4879:1" rel="noopener">Tilaknagar Industries (TLNGR IN)</a> acquires Pernod Ricard India’s Imperial Blue for INR 4,150 crore, diversifying its portfolio into whisky from dominance in brandy.</li>
<li>This acquisition will establish TI as a pan-India spirits player, significantly enhancing distribution and is expected to be accretive.</li>
<li>However, substantial deal size raises concerns about equity dilution, high leverage risks, and significant integration challenges for TI</li>
</ul>



Tilaknagar Industries (TLNGR IN) acquires Pernod Ricard India’s Imperial Blue for INR 4,150 crore, diversifying its portfolio into whisky from dominance in brandy.
This acquisition will establish TI as a pan-India spirits player, significantly enhancing distribution and is expected to be accretive.
However, substantial deal size raises concerns about equity dilution, high leverage risks, and significant integration challenges for TI


Event Driven: Tilaknagar Ind ₹4,150 Cr Imperial Blue Acq.~Transformational Play or Leverage Trap?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Thematic (Sector/Industry)

<ul>
<li>Spirits brands continued growing through premium products, while brewers faced weaker demand due to heavy rains and pricing issues in some states.</li>
<li>India’s liquor market is expanding quickly, but uneven state rules and taxes are creating two separate growth paths- premium spirits rising, mass beer struggling.</li>
<li>The winning strategy is to move up the value chain and manage state regulations well. Premium brands with strong presence across states look best positioned ahead.</li>
</ul>


Spirits brands continued growing through premium products, while brewers faced weaker demand due to heavy rains and pricing issues in some states.
India’s liquor market is expanding quickly, but uneven state rules and taxes are creating two separate growth paths- premium spirits rising, mass beer struggling.
The winning strategy is to move up the value chain and manage state regulations well. Premium brands with strong presence across states look best positioned ahead.


Thematic Report on India’s Alcohol Market: Premiumization Trends and Regulatory Obstacles

Equity Bottom-Up

<ul>
<li>Piccadily Agro has rapidly scaled Indri and Camikara into global alcobev brands, with presence in 28 countries and 24 duty-free outlets, supported by INR 500 crore capex expansion.</li>
<li>This shift marks a decisive pivot from commodity sugar to premium brand-led revenue, improving margins and reducing seasonality and policy risk in its core business model.</li>
<li>PAIL is an emerging alcobev player with global aspirations and a premium product pipeline that could rerate valuations meaningfully.</li>
</ul>


Piccadily Agro has rapidly scaled Indri and Camikara into global alcobev brands, with presence in 28 countries and 24 duty-free outlets, supported by INR 500 crore capex expansion.
This shift marks a decisive pivot from commodity sugar to premium brand-led revenue, improving margins and reducing seasonality and policy risk in its core business model.
PAIL is an emerging alcobev player with global aspirations and a premium product pipeline that could rerate valuations meaningfully.


The Beat Ideas: Piccadily Agro Industries Ltd - Indri Dominating Global Whiskey Market

<ul>
<li>India ranks third globally in power generation growth, with 83% of investment in clean energy and strong foreign interest driven by supportive government policies.</li>
<li>McKinsey projects India could unlock USD 2 trillion across 18 high-growth sectors by 2030, potentially contributing 30 percent to incremental GDP by 2040.</li>
<li>
<a href="https://www.smartkarma.com/entities/tata-consumer-products" target="_blank" data-smartkarma-citation="entities:258:1" rel="noopener">Tata Consumer Products (TATACONS IN)</a> is embedding AI across operations to drive speed, precision, and hyper personalised engagement, signaling a bold digital pivot to redefine its FMCG growth trajectory.</li>
</ul>


India ranks third globally in power generation growth, with 83% of investment in clean energy and strong foreign interest driven by supportive government policies.
McKinsey projects India could unlock USD 2 trillion across 18 high-growth sectors by 2030, potentially contributing 30 percent to incremental GDP by 2040.

Tata Consumer Products (TATACONS IN) is embedding AI across operations to drive speed, precision, and hyper personalised engagement, signaling a bold digital pivot to redefine its FMCG growth trajectory.


#165 India Insights: India’s Clean Power Surge, $2T Growth Outlook, Tata Consumer Bets on AI

<ul>
<li>Premiumization is reshaping India's consumer market, with rising demand for high-quality products across FMCG, automobiles, electronics, and luxury goods driven by growing affluence and aspirations.</li>
<li>India’s per capita GDP surpassing $2,500 and increasing digitalization have unlocked significant growth in premium categories, positioning India as a global hotspot for aspirational consumption.</li>
<li>The shift from affordability to quality signals immense opportunities in premium segments, making it essential for businesses to innovate while balancing premium and budget-friendly offerings.</li>
</ul>


Premiumization is reshaping India's consumer market, with rising demand for high-quality products across FMCG, automobiles, electronics, and luxury goods driven by growing affluence and aspirations.
India’s per capita GDP surpassing $2,500 and increasing digitalization have unlocked significant growth in premium categories, positioning India as a global hotspot for aspirational consumption.
The shift from affordability to quality signals immense opportunities in premium segments, making it essential for businesses to innovate while balancing premium and budget-friendly offerings.


Thematic Report: India- World’s Next Hotspot for Premium Brands

India

Tilaknagar Industries Limited manufactures a wide range of liquors. The Company's products include brandy, gin, whiskey, and vodka.

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Tilaknagar Industries (TLNGR IN)

Event Driven: Tilaknagar Ind ₹4,150 Cr Imperial Blue Acq.~Transformational Play or Leverage Trap?

Tilaknagar Industries acquires Pernod Ricard India's Imperial Blue for INR 4,150 crore, expanding into whisky and facing challenges with equity...

Nimish Maheshwari

Thematic Report on India’s Alcohol Market: Premiumization Trends and Regulatory Obstacles

Premium spirits are thriving in India's liquor market, while mass beer struggles due to state regulations and taxes. Moving up the value chain and...

Sudarshan Bhandari

The Beat Ideas: Piccadily Agro Industries Ltd - Indri Dominating Global Whiskey Market

The Company has received approval from the National Stock Exchange of India Limited (NSE) for the listing of its Equity Shares, effective from July...

Sudarshan Bhandari

#165 India Insights: India’s Clean Power Surge, $2T Growth Outlook, Tata Consumer Bets on AI

India's strong growth in clean energy and government support could lead to significant economic gains, while Tata Consumer Products is embracing...

Sudarshan Bhandari

Thematic Report: India- World’s Next Hotspot for Premium Brands

India's rising affluence and aspirations are driving demand for high-quality products across various sectors, making the country a global hotspot...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Event Driven: Tilaknagar Ind ₹4,150 Cr Imperial Blue Acq.~Transformational Play or Leverage Trap?

​Tilaknagar Industries acquires Pernod Ricard India's Imperial Blue for INR 4,150 crore, expanding into whisky and facing challenges with equity...

Nimish Maheshwari

Thematic Report on India’s Alcohol Market: Premiumization Trends and Regulatory Obstacles

​Premium spirits are thriving in India's liquor market, while mass beer struggles due to state regulations and taxes. Moving up the value chain and...

Sudarshan Bhandari

The Beat Ideas: Piccadily Agro Industries Ltd - Indri Dominating Global Whiskey Market

The Company has received approval from the National Stock Exchange of India Limited (NSE) for the listing of its Equity Shares, effective from July...

Sudarshan Bhandari

#165 India Insights: India’s Clean Power Surge, $2T Growth Outlook, Tata Consumer Bets on AI

​India's strong growth in clean energy and government support could lead to significant economic gains, while Tata Consumer Products is embracing...

Sudarshan Bhandari

Thematic Report: India- World’s Next Hotspot for Premium Brands

​India's rising affluence and aspirations are driving demand for high-quality products across various sectors, making the country a global hotspot...

Nimish Maheshwari

Tilaknagar Industries acquires Pernod Ricard India's Imperial Blue for INR 4,150 crore, expanding into whisky and facing challenges with equity...

Premium spirits are thriving in India's liquor market, while mass beer struggles due to state regulations and taxes. Moving up the value chain and...

India's strong growth in clean energy and government support could lead to significant economic gains, while Tata Consumer Products is embracing...

India's rising affluence and aspirations are driving demand for high-quality products across various sectors, making the country a global hotspot...