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

TD Power Systems: From Capacity Constraints to the Next Growth Phase

Jubilant Agri & Consumer Products: Turnaround in Polymer Business & Demerger Play

What India Needs to Learn from China on Coal Gasification?

Lodha Developers: Three Growth Engines Behind the ~20% PAT CAGR Ambition

Milky Mist IPO: A Bet on New Age & Value Added Dairy Products

Lenskart IPO: Fashioning Vision or Pricing Perfection?

India QSR: Turnaround in Sector After 2 Years of Lag!

From Aroma to Alpha: Privi Speciality Chemicals Clears FY26 With Flying Colors

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>Q1 FY27 proforma revenue grew 33.6% to INR 2,714 Cr, EBITDA (pre-IndAS 116) rose 95.0% to INR 361 Cr and PAT reached INR 228 Cr.</li>
<li>India SSSG of 18.3%, a consolidated product margin above 70%, and International post-rent margin of 10.6% show scale converting into stronger unit economics.</li>
<li>The earnings quality is improving, but a ~₹1.02 lakh Cr market capitalisation still demands sustained 30%+ growth, margin expansion and disciplined capital deployment.</li>
</ul>


Q1 FY27 proforma revenue grew 33.6% to INR 2,714 Cr, EBITDA (pre-IndAS 116) rose 95.0% to INR 361 Cr and PAT reached INR 228 Cr.
India SSSG of 18.3%, a consolidated product margin above 70%, and International post-rent margin of 10.6% show scale converting into stronger unit economics.
The earnings quality is improving, but a ~₹1.02 lakh Cr market capitalisation still demands sustained 30%+ growth, margin expansion and disciplined capital deployment.


Lenskart: Growth Broadens, International Profitability Moves Into Double Digits