Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Sreemant Dudhoria is a CFA Charterholder with 15 years of experience in equity research and information technology. He is also a SEBI-registered Research Analyst (Registration Number: INH000016861). His focus is on analyzing companies with bottom-up specific triggers. Previously, he has worked with Unifi Capital and Infosys Technologies Limited.

Equity Analyst - Fundamental & Thematic

Shortlist Of High Conviction Ideas Across China, Japan, India - June 2025

Chow Tai Fook(1929 HK) - What’s Clicking in Q1FY26? Brand Revamp, Cost Focus and SSS Recovery

Chow Tai Fook(1929 HK): Strong Q2 Operations, Tax Challenges, Future Remains Puzzling

Chow Tai Fook (1929 HK) – H2FY25 Outlook, Cost Management & Pricing Optimization to Drive Growth.

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

Chow Tai Fook Jewellery / Equity Bottom-Up

<ul>
<li>
Resilient FY25 Margins: Despite a 17.5% revenue drop, <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> expanded operating margins by 400bps through cost control and premium product mix.</li>
<li>
Brand-Led Recovery in FY26: Signature launches, digital sales, and store optimization to drive Same Store Sales Growth (SSSG) recovery and sustain high operating leverage.</li>
<li>
Valuation Supported by Fundamentals: Valuation at 20.8x P/E (TTM) valuation justified by strong ROE (&gt;20%), margin leadership, and stable dividend payout (~88%) versus regional jewellery peers.</li>
</ul>



Resilient FY25 Margins: Despite a 17.5% revenue drop, Chow Tai Fook Jewellery (1929 HK) expanded operating margins by 400bps through cost control and premium product mix.

Brand-Led Recovery in FY26: Signature launches, digital sales, and store optimization to drive Same Store Sales Growth (SSSG) recovery and sustain high operating leverage.

Valuation Supported by Fundamentals: Valuation at 20.8x P/E (TTM) valuation justified by strong ROE (&gt;20%), margin leadership, and stable dividend payout (~88%) versus regional jewellery peers.


Chow Tai Fook(1929 HK) – Firing on All Cylinders, Strong Outlook For FY26