In today’s briefing:
- Eicher Motors (EIM IN) | Why Exports Are on Fire
- Copper Up 26% YoY, Now at All-Time Highs – Key Drivers
- The Beat Ideas: Salzer Electronics: Smart Meter Play, A Proxy to India’s Electrification Story
- Bluestone Jewellery and Lifestyle Pre-IPO – Strong Growth but with Cash Flow Struggles
Eicher Motors (EIM IN) | Why Exports Are on Fire
- Eicher Motors (EIM IN), through its brand Royal Enfield, is experiencing strong export performance driven by strategic global expansion in the middleweight motorcycle segment.
- The unit in Thailand, serves as a key manufacturing hub, with a CKD assembly facility supporting both local and Asia-Pacific markets.
- Royal Enfield’s focus on retro design and competitive pricing attracts customers in Europe and Brazil, filling a niche left by premium brands.
Copper Up 26% YoY, Now at All-Time Highs – Key Drivers
- Hindustan Copper (HCP IN) India’s only pure-play copper miner – could see earnings surge >60% if current price buoyancy sustains.
- Copper rally appears drive by fundamentals with several large miners such as Freeport Mcmoran (FCX US)BHP Group Ltd (BHP AU) and Anglo American (AAL LN) guiding declines.
- Mining costs are largely location-specific and track inflation trends, supporting significant topline buoyancy.
The Beat Ideas: Salzer Electronics: Smart Meter Play, A Proxy to India’s Electrification Story
- Salzer Electronics (SZE IN) is aggressively scaling its smart meter business with INR 600–700 crore revenue targeted in FY26, aiming to sell up to 8 lakh units annually.
- This diversification into B2B smart metering could double revenues, boost margins, and improve ROCE, transforming Salzer from a niche switchgear player to a full-stack energy solutions provider.
- Salzer is no longer a slow-growing industrial supplier: it’s evolving into a high-growth, government-aligned, tech-driven player with strong export and R&D-led optionality.
Bluestone Jewellery and Lifestyle Pre-IPO – Strong Growth but with Cash Flow Struggles
- Bluestone Jewellery and Lifestyle Ltd Ltd (BJL) (0124165D IN)(BJL) is planning to raise about US$118m in its upcoming India IPO.
- BJL offers contemporary lifestyle diamond, gold, platinum, and studded jewellery under its flagship brand.
- It is a digital-first direct-to-consumer (DTC) brand and is the second largest digital-first omni-channel jewellery brand in India in terms of revenue for FY24, as per RedSeer Report.
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