Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

India Small And Micro Cap Compounders: High ROCE, Profitable Growth, Outsized Shareholder Returns

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/frontier-springs-ltd" target="_blank" data-smartkarma-citation="entities:44291:1" rel="noopener">Frontier Springs (FS IN)</a> supplies roughly 40% of Indian Railways coil spring demand against one or two approved rivals, a certification moat that drove 39% revenue growth in FY26.</li>
<li>Air springs and forging widen the runway: plants at 70% utilisation, a Rs 370 crore order book, and the FIBA import substitution product cleared for RDSO trials.</li>
<li>The stock trades on 24.9x FY26 and 20.9x FY27e earnings, against 41.0% FY26 ROCE, net cash, and 39% revenue growth.</li>
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Frontier Springs (FS IN) supplies roughly 40% of Indian Railways coil spring demand against one or two approved rivals, a certification moat that drove 39% revenue growth in FY26.
Air springs and forging widen the runway: plants at 70% utilisation, a Rs 370 crore order book, and the FIBA import substitution product cleared for RDSO trials.
The stock trades on 24.9x FY26 and 20.9x FY27e earnings, against 41.0% FY26 ROCE, net cash, and 39% revenue growth.


Frontier Springs Limited (FS IN): Beneficiary Of India Rail Capex, With Superior ROCE And Growth