India BFSI - Long-Short - Equity Research Analyst

Raj S, CA, CFA

I am, Raj, a CA and CFA and a SEBI Registered Research Analyst.

I cover Indian BFSI sector at Smartkarma. I track all the interesting Buy/ Sell ideas across among the larger Indian and ASEAN Banks, and Life Insurance Sector. 

Indian BFSI sector is the largest by marketcap in India and has some very promising long-term trades in offer.

I am a CA and CFA with 10+ years experience in fundamental equity research across buy-side and sell-side and across geographies in BFSI segment.
My research process is primarily focused on highlighting the key risks and opportunities which would have a direct impact on stock performance. I try to cut through the noise and sort through the detail, in order to organize and simplify my thinking about a investment thesis.

Please reach out to us for customized services which can help your office or fund. Whether that be shadow coverage of specific companies, or maybe more simpler things that you want taken care of. We provide a wide range of services at super efficient cost. PM me.

SBI Life: Best Bet to Play the Indian Life Insurance Sector - Initiating Coverage.

Indian Life Insurance (And Savings) Sector Primer - Long-Term Potential and Strong Operating Margins

HDFC Life: 2Q24 Result Update: In-Line on a High Base, HDFC Bank Distribution the Main Positive.

Artoval Advisors

Art’o’val stands for Art of Valuation. Artoval Advisors LLP is a professionally run advisory firm catering to various financial advisory services including Valuation, Investment Research, Training, Accounting, CFO Services and other ancillary services.

We are passionate about what we do and strongly believe in working with our clients as their extended teams. With Artoval Advisors as their trusted partner, our clients find it easy to achieve efficiency in service delivery without compromising on quality.

True Art of Valuation

Equity Bottom-Up

ICICI Prudential Life Insurance / Equity Bottom-Up

ICICI Prudential Life Insurance (IPRU IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-prudential-life-insurance" target="_blank" data-smartkarma-citation="entities:23608:1" rel="noopener">ICICI Prudential Life Insurance (IPRU IN)</a> reported its 2Q24 earnings results yesterday, with flat sales and decreasing margins</li>
<li>The lack of support from ICICI Bank, its parent, has been the main concern, with ICICI Pru consistently losing market share to other private peers due to below-par growth.</li>
<li>We value ICICI Pru at ~1.4x FY25e P/EV, implying a -15% downside to current price, reflecting the bleak outlook in terms of growth and margins in the medium-term.</li>
</ul>



ICICI Prudential Life Insurance (IPRU IN) reported its 2Q24 earnings results yesterday, with flat sales and decreasing margins
The lack of support from ICICI Bank, its parent, has been the main concern, with ICICI Pru consistently losing market share to other private peers due to below-par growth.
We value ICICI Pru at ~1.4x FY25e P/EV, implying a -15% downside to current price, reflecting the bleak outlook in terms of growth and margins in the medium-term.


ICICI Prudential Life: 2Q24 Result Update: The Search for Salvation (Continues..)