India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India-focused Independent Equity Research Analyst

Experienced (7 years +) in Sector-Specific Deep Dives and Comprehensive Company Research.

With a sharp focus on the Indian market, I specialize in providing in-depth analysis and insights to investors. Whether it's dissecting various sectors to identify emerging trends or conducting thorough fundamental research on individual companies, I'm dedicated to uncovering valuable opportunities and delivering actionable intelligence.

Passionate about navigating the nuances of the Indian equity landscape, I thrive on deciphering complex market dynamics and distilling them into clear, concise insights. 

While covering a sector or company-specific research, I cover the following :
1. Brief about company/sector
2.  Overall Industry landscape - History, Present and Future trends
3. Thesis and Anti-Thesis
4. Valuations
5. Financial & Forensic Analysis
6. Management Review
7. Key Monitorable Events
8. Guidance and Future Way Ahead

India Equity Analyst - Fundamental & Thematic

Steel Strips Wheels: How Alloy Wheels Are Rewriting Margin Story?

Sterlite Technologies: Project Lakshya Raises The Stakes

Why India Need China for Battery Technology?

Ethos Limited: From Luxury Retailer To Brand Owner & Moving into Jewellery

Groww: Can Margin Trading Become The Next Growth Engine?

ESDS Software IPO: India's First Data Centre Company Going Public

Inox India Ltd: Backbone For Industrial Gases And Clean Energy

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>The revenue mix is structurally shifting toward funding income even as FY26 as a whole showed revenue down 11% and PAT down 35%, and cost-to-income stayed near 83%. </li>
<li>Q1 FY27 revenue grew 14% YoY to Rs.88.4 crore, driven by 26.5% higher interest income, while MTF book averaged Rs.422 crore and net worth tripled to Rs.1,131 crore.</li>
<li>The indian discount broking industry is changing and moving towards more stickier business like MTF Funding and digital model is just helping them in making it accessible fast. </li>
</ul>


The revenue mix is structurally shifting toward funding income even as FY26 as a whole showed revenue down 11% and PAT down 35%, and cost-to-income stayed near 83%. 
Q1 FY27 revenue grew 14% YoY to Rs.88.4 crore, driven by 26.5% higher interest income, while MTF book averaged Rs.422 crore and net worth tripled to Rs.1,131 crore.
The indian discount broking industry is changing and moving towards more stickier business like MTF Funding and digital model is just helping them in making it accessible fast. 


5paisa Capital: MTF Funding- The Next Phase Of Growth