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

The Beat Ideas: SJS Enterprises, A Niche Premiumisation Play

The Beat Ideas: Indian Auto Industry: GST Cuts Power Record Festive Sales Surge

Emirates NBD’s Entry Redefines RBL Bank’s Growth Trajectory

The Beat Ideas: Kalyan Jewellers- Scaling New Heights with an Asset-Light Strategy

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>Eternal Ltd’s Q2FY26 revenue surged 183% YoY to INR 135B, driven by Blinkit’s shift to an owned-inventory quick commerce model, a major operational transformation.</li>
<li>The new model boosts revenue and gross margins but pressures profits amid higher marketing costs, dark store expansion, and increased working capital needs.</li>
<li>Eternal is prioritizing scale over near-term profits, investing heavily to strengthen its long-term leadership in Q-commerce and digital retail.</li>
</ul>


Eternal Ltd’s Q2FY26 revenue surged 183% YoY to INR 135B, driven by Blinkit’s shift to an owned-inventory quick commerce model, a major operational transformation.
The new model boosts revenue and gross margins but pressures profits amid higher marketing costs, dark store expansion, and increased working capital needs.
Eternal is prioritizing scale over near-term profits, investing heavily to strengthen its long-term leadership in Q-commerce and digital retail.


Eternal: Blinkit Leads Scale-Up as Inventory Model Lifts Margins