In today’s briefing:
- Devyani Intnl.: Yum Brands India Franchisee to Acquire Cloud Kitchen Operator. In Pursuit of Growth
- The Beat Ideas: Danish Power Limited – Riding the Green Energy Wave
- The Beat Ideas- Shilchar Technologies: Powering the Grid, Energizing Growth
- Bandhan Bank Ltd (BANDHAN IN) | Peak Provisions Behind
- Waaree Energies IPO Lockup – Lots of Individual Shareholders Own over US$2bn Worth of Stock
Devyani Intnl.: Yum Brands India Franchisee to Acquire Cloud Kitchen Operator. In Pursuit of Growth
- Devyani International (DEVYANI IN) which operates QSRs such as KFC, Pizza Hut in India plans to acquire Sky Gate Hospitality Pvt. Ltd., the operator of the “Biryani By Kilo”.
- This acquisition can diversify Devyani’s portfolio beyond its core quick‑service restaurant (QSR) franchises—KFC and Pizza Hut—at a time when same‑store sales growth has softened.
- With the rise of off-premise dining and food delivery post pandemic, cloud kitchens are expanding across the board thanks to scalable, asset‑light model, and ability to bypass traditional dine‑in overheads.
The Beat Ideas: Danish Power Limited – Riding the Green Energy Wave
- Danish Power (DANISH IN) stands to benefit from India’s aggressive shift towards renewable energy, particularly solar, supported by strong product offerings like Inverter Duty Transformers, which drive substantial revenue growth.
- DPL’s strategic shift to higher-margin products, improved operating leverage, and expanded capacity should fuel margin expansion and support sustained profitability, positioning it well for continued growth and competitiveness.
- With a robust order book exceeding INR 400 crore and an active pipeline, DPL has solid revenue visibility supported by strong demand in domestic and international markets.
The Beat Ideas- Shilchar Technologies: Powering the Grid, Energizing Growth
- Shilchar’s focus on Inverter Duty Transformers positions it to capitalize on the booming renewable energy sector, especially solar, supporting long-term growth and profitability.
- Shilchar’s recent capacity expansion, with a potential to scale further, ensures it can meet increasing domestic and export demand for transformers, positioning it for sustained market leadership.
- Shilchar’s debt-free balance sheet and strong cash reserves enable strategic reinvestment in capacity and technology, ensuring continued growth in the competitive transformer industry.
Bandhan Bank Ltd (BANDHAN IN) | Peak Provisions Behind
- We interacted with Microfinance BU (Business Unit) managers of Bandhan Bank Ltd (BANDHAN IN) across major states in India.
- Our objective was to understand the current collection trends and asset quality issues especially in the Microfinance Portfolio.
- Based on our interactions, we would like to put a case for declining provisions going ahead.
Waaree Energies IPO Lockup – Lots of Individual Shareholders Own over US$2bn Worth of Stock
- Waaree Energies (WAAREEEN IN) raised around US$514m in its India IPO in October 2024. The lockup on its pre-IPO investors is set to expire soon.
- Waaree Energies is a solar PV module manufacturer in India with an aggregate installed capacity of 12 GW, as of Jun 2024.
- In this note, we will talk about the lockup dynamics and possible placement.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
