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

Augmont Enterprises IPO: India's Integrated Gold and Silver Platform

Mazagon Dock: The Next Order Cycle Could Be Much Bigger Than the Current Backlog

Pitti Engineering: Laminating a Path to India's Electrification Boom

MCX: Commodity Boom to Drive Explosive Earnings Growth

2026 High Conviction Idea: MCX - India’s Commodity Giant

NSE's GOLD10G: A Structural Crack in MCX's Bullion Kingdom

Event Driven: SAMHI Hotels~ Strategic Expansion into High-Margin Hotels Via RARE India Acquisition

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 Derivatives

Multi Commodity Exchange of India / Equity Derivatives

Multi Commodity Exchange of India (MCX IN)

<ul>
<li>MCX reported FY26 PAT of Rs. 1,332 crore, a 138% YoY jump, on total income of Rs. 2,429 crore. The PAT alone exceeds FY25's entire revenue of Rs. 1,209 crore.</li>
<li>Exchange economics at full volume: revenue more than doubled while total expenses grew just 58% in Q4, producing a 76% EBITDA margin. </li>
<li>The structural <strong>re-rating</strong> argument is simple: MCX's revenue is a function of volatility and participation, both of which expanded structurally in FY26.</li>
</ul>


MCX reported FY26 PAT of Rs. 1,332 crore, a 138% YoY jump, on total income of Rs. 2,429 crore. The PAT alone exceeds FY25's entire revenue of Rs. 1,209 crore.
Exchange economics at full volume: revenue more than doubled while total expenses grew just 58% in Q4, producing a 76% EBITDA margin. 
The structural re-rating argument is simple: MCX's revenue is a function of volatility and participation, both of which expanded structurally in FY26.


How MCX Turned a Gold Supercycle into a Profit-Making Machine?