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- Sirca Paints: A Premium Coating Company Widening Its Addressable Market

Varun Beverages: Changes in Longest Exclusive Pepsi Agreement & What Does that Mean?

China’s Supply Chain Squeeze: Mapping India’s Opportunity Across Four Critical Sectors

INOX Clean Energy: A $750 Million Entry Into America’s Solar Market

Piccadily Agro(The Indri Maker): The Sugar Mill That Became a Whisky World-Beater!

JSW Steel: BPSL Deal to Provide near Term Deleveraging

India Glycols: The Only Bio-Based Chemical Manufacturer in India!

NTPC’s Nuclear Bet: From Thermal Giant to Nuclear Powerhouse?

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>JSW Steel reported Q4 FY26 consolidated PAT of INR 19,243 crore, mainly driven by a INR 17,888 crore exceptional gain from the BPSL slump sale to the JFE JV.</li>
<li>Excluding the exceptional gain, normalised Q4 PAT was INR 3,475 crore, supported by INR 9,713 crore adjusted EBITDA, lower net debt, and record quarterly steel sales of 7.97 MT.</li>
<li>FY26 was transformational as the BPSL restructuring strengthened JSW’s balance sheet, deepened strategic partnerships with JFE and POSCO, and supported its 62 MTPA FY32 roadmap.</li>
</ul>


JSW Steel reported Q4 FY26 consolidated PAT of INR 19,243 crore, mainly driven by a INR 17,888 crore exceptional gain from the BPSL slump sale to the JFE JV.
Excluding the exceptional gain, normalised Q4 PAT was INR 3,475 crore, supported by INR 9,713 crore adjusted EBITDA, lower net debt, and record quarterly steel sales of 7.97 MT.
FY26 was transformational as the BPSL restructuring strengthened JSW’s balance sheet, deepened strategic partnerships with JFE and POSCO, and supported its 62 MTPA FY32 roadmap.


JSW Q4FY26: BPSL Sales Lift Profit, Capacity Expansion Remains in Focus