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

Thematic (Sector/Industry)

<ul>
<li>Wholesale sugar in Kolhapur has risen to about Rs. 5,350 per 100 kg, while raw sugar futures recently touched a one-year high of 16.6 cents/lb.</li>
<li>India’s opening sugar inventory on 1 October is estimated near 3.5 million tonnes—potentially the lowest in more than three decades.</li>
<li>The near-term earnings advantage shifts toward mills with large sugar stocks carried at Rs. 37–38/kg that can be sold into a Rs. 46–53/kg market.</li>
</ul>


Wholesale sugar in Kolhapur has risen to about Rs. 5,350 per 100 kg, while raw sugar futures recently touched a one-year high of 16.6 cents/lb.
India’s opening sugar inventory on 1 October is estimated near 3.5 million tonnes—potentially the lowest in more than three decades.
The near-term earnings advantage shifts toward mills with large sugar stocks carried at Rs. 37–38/kg that can be sold into a Rs. 46–53/kg market.


India’s Sugar Market: Record Prices, Shrinking Inventories And The Listed Beneficiaries

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>India’s Defense Acquisition Council approved INR 2.38 lakh crore proposals on March 27, 2026, taking total FY26 approvals to ~INR 9.3 lakh crore across Army, Air Force, and Coast Guard.</li>
<li>The pace and scale of approvals reinforce a multi-year procurement cycle, with indigenization becoming structural, expanding opportunities for domestic defence PSUs and private sector players.</li>
<li>
Stronger order visibility led by BEL, improving execution clarity for HAL, BDL’s indigenization progress, and Astra Microwave’s restructuring position the sector for sustained growth momentum.</li>
</ul>


India’s Defense Acquisition Council approved INR 2.38 lakh crore proposals on March 27, 2026, taking total FY26 approvals to ~INR 9.3 lakh crore across Army, Air Force, and Coast Guard.
The pace and scale of approvals reinforce a multi-year procurement cycle, with indigenization becoming structural, expanding opportunities for domestic defence PSUs and private sector players.

Stronger order visibility led by BEL, improving execution clarity for HAL, BDL’s indigenization progress, and Astra Microwave’s restructuring position the sector for sustained growth momentum.


Thematic Report: India Defense Sector - Moving Into Growth Phase

<ul>
<li>India's sugar industry is experiencing an unexpected rally driven by pricing power due to an 18% production drop, leading to rising sugar prices.</li>
<li>This shift is boosting sugar mills' profitability, as evidenced by improved quarterly results, despite unchanged ethanol margins and rising cane costs.</li>
<li>The sector is now a compelling "margin-driven" recovery story, moving beyond its traditionally dull, regulation-heavy image.</li>
</ul>


India's sugar industry is experiencing an unexpected rally driven by pricing power due to an 18% production drop, leading to rising sugar prices.
This shift is boosting sugar mills' profitability, as evidenced by improved quarterly results, despite unchanged ethanol margins and rising cane costs.
The sector is now a compelling "margin-driven" recovery story, moving beyond its traditionally dull, regulation-heavy image.


The Sugar Sector Reversal: How Sugar Companies Are Finally Tasting Profits?

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

Q2 2020’s selection delivered an average return increase of 54% v’s the MSCI Asia Pacific Index 37.4% over the same period. The GARP-based screen uses a combination of growth and value metrics to identify shares where brokers are forecasting high earnings growth, but which are currently valued at a price that is low relative to their forecast outlook. Whilst Central Banks are providing additional liquidity favouring growth names, our value-based screen is key to delivering positive gains as tapering begins. Q2 2021's screen provides 16 key suggestions.  What makes the current selection interesting is the bias towards Taiwan and India on a country basis and Industrials and Healthcare on a sector basis. Also of particular note, Singapore presents one name on this screen.

Q2 2020’s selection delivered an average return increase of 54% v’s the MSCI Asia Pacific Index 37.4% over the same period. The GARP-based screen uses a combination of growth and value metrics to identify shares where brokers are forecasting high earnings growth, but which are currently valued at a price that is low relative to their forecast outlook. Whilst Central Banks are providing additional liquidity favouring growth names, our value-based screen is key to delivering positive gains as tapering begins. Q2 2021's screen provides 16 key suggestions.  What makes the current selection interesting is the bias towards Taiwan and India on a country basis and Industrials and Healthcare on a sector basis. Also of particular note, Singapore presents one name on this screen.

Screening the Silk Road: Q2-2021 All Cap GARP (Zulu Warrior Screening)

Equity Bottom-Up

<ul>
<li>India's ethanol distillery capacity has nearly tripled to ~1,970 crore litres by FY26, while OMC absorption sits at roughly 60% of capacity offered, creating a structural surplus.</li>
<li>With utilization rates languishing at 65–75%, sector credit profiles are under strain; the majority of rated distilleries cluster at BBB. Pure-play producers like TruAlt Bioenergy face acute earnings volatility.</li>
<li>The BIS notification of E22–E30 fuel standards in May 2026 and MoRTH's draft E85 rules open a clear demand runway, but absorption hinges on FFV penetration and multi-blend retail infrastructure.</li>
</ul>


India's ethanol distillery capacity has nearly tripled to ~1,970 crore litres by FY26, while OMC absorption sits at roughly 60% of capacity offered, creating a structural surplus.
With utilization rates languishing at 65–75%, sector credit profiles are under strain; the majority of rated distilleries cluster at BBB. Pure-play producers like TruAlt Bioenergy face acute earnings volatility.
The BIS notification of E22–E30 fuel standards in May 2026 and MoRTH's draft E85 rules open a clear demand runway, but absorption hinges on FFV penetration and multi-blend retail infrastructure.


India's Ethanol Oversupply: Policy Outpaced the Infrastructure It Needed

India

Triveni Engineering and Industries Limited is an Indian conglomerate with diversified businesses in sugar and engineering. The company manufactures sugar, alcohol (including ethanol), and provides power co-generation, power transmission products like industrial gears and gearboxes, and water and wastewater treatment solutions. Headquartered in Noida, India, it was founded in 1932.

Triveni Engineering and Industries (TRE IN)

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Triveni Engineering and Industries (TRE IN)

India’s Sugar Market: Record Prices, Shrinking Inventories And The Listed Beneficiaries

Domestic sugar prices have jumped to record levels just as India heads into the festival-demand window. The bigger earnings question is who is...

Nimish Maheshwari

Thematic Report: India Defense Sector - Moving Into Growth Phase

India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

Sudarshan Bhandari

The Sugar Sector Reversal: How Sugar Companies Are Finally Tasting Profits?

India's sugar industry sees unexpected rally with rising prices and improved profitability despite production drop and rising costs, shifting...

Nimish Maheshwari

Screening the Silk Road: Q2-2021 All Cap GARP (Zulu Warrior Screening)

GARP selection, held for 12 mths for good reason. The list delivered an average return of 54% v’s the MSCI Asia Pac Index 37.4% over the same...

David Lepper

India's Ethanol Oversupply: Policy Outpaced the Infrastructure It Needed

India's ethanol distillery capacity triples by FY26, creating surplus; sector credit profiles strained with low utilization rates; demand set to...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India’s Sugar Market: Record Prices, Shrinking Inventories And The Listed Beneficiaries

Domestic sugar prices have jumped to record levels just as India heads into the festival-demand window. The bigger earnings question is who is...

Nimish Maheshwari

Thematic Report: India Defense Sector - Moving Into Growth Phase

​India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

Sudarshan Bhandari

The Sugar Sector Reversal: How Sugar Companies Are Finally Tasting Profits?

​India's sugar industry sees unexpected rally with rising prices and improved profitability despite production drop and rising costs, shifting...

Nimish Maheshwari

Screening the Silk Road: Q2-2021 All Cap GARP (Zulu Warrior Screening)

GARP selection, held for 12 mths for good reason. The list delivered an average return of 54% v’s the MSCI Asia Pac Index 37.4% over the same...

David Lepper

India's Ethanol Oversupply: Policy Outpaced the Infrastructure It Needed

​India's ethanol distillery capacity triples by FY26, creating surplus; sector credit profiles strained with low utilization rates; demand set to...

Nimish Maheshwari

India's Defense Acquisition Council approved INR 2.38 lakh crore proposals, reinforcing a multi-year procurement cycle and boosting opportunities...

India's sugar industry sees unexpected rally with rising prices and improved profitability despite production drop and rising costs, shifting...

India's ethanol distillery capacity triples by FY26, creating surplus; sector credit profiles strained with low utilization rates; demand set to...