Stock research on global mid-cap companies

Evaluate Research

Evaluate Research provides institutional quality stock research on small-cap and  mid-cap companies on a global basis, thus helping connect investors with the company.

At Evaluate Research, we provide free of cost to all investors a 20-25 page Initiation Report which evaluates in great detail all aspects of the company:  growth opportunities, catalysts, business description, competitive positioning, SWOT analysis, risks, etc.  In addition, we determine specific price targets for the company based on detailed 5-year complete forecasts of financial statements including IS, BS, CF, ratios, etc.  Finally, whereas many sell-side brokers offer sketchy and irregular ongoing maintenance research of companies, if not outright dropped or termination of coverage, at Evaluate Research we systematically monitor and regularly publish Update Notes covering quarterly earnings, major corporate events, etc.

All of the research reports are broadly and freely disseminated globally to leading Fund Managers and analysts who invest specifically in mid-size equities, and also on leading investment information platforms including: Bloomberg, Thomson Reuters, FactSet etc.

Stock research on global mid-cap companies, Evaluate Research

Equity Bottom-Up

Rajesh Exports reported strong results for the fourth quarter ended March 2018. Net income/EPS for the period came in at Rs.3.69 bn/Rs.12.51, up 11.2% YoY and 15.2% above our estimates. Revenue for the quarter was up 6.0% YoY to Rs.438.4 bn. The higher increase in EPS was mainly a result of an increase in profit margins as the company continues to shift its product mix towards higher margin value added products. During our conversation with senior management, they mentioned that the company is seeing good response for its value added products and expects the sales of these products to grow strongly in the coming years, further driving the profit margin expansion. At the end of the year, the company’s order book stood at a healthy level of Rs.654.6 bn vs. Rs.408.2 bn at the end of the third quarter of the year. The company is currently in the final stages of setting up a gold refinery at its Bangalore manufacturing facility. The products developed at this facility will be used for the company’s export business as well as for its India operations.
Analyst: Ajeya Patil

Rajesh Exports reported strong results for the fourth quarter ended March 2018. Net income/EPS for the period came in at Rs.3.69 bn/Rs.12.51, up 11.2% YoY and 15.2% above our estimates. Revenue for the quarter was up 6.0% YoY to Rs.438.4 bn. The higher increase in EPS was mainly a result of an increase in profit margins as the company continues to shift its product mix towards higher margin value added products. During our conversation with senior management, they mentioned that the company is seeing good response for its value added products and expects the sales of these products to grow strongly in the coming years, further driving the profit margin expansion. At the end of the year, the company’s order book stood at a healthy level of Rs.654.6 bn vs. Rs.408.2 bn at the end of the third quarter of the year. The company is currently in the final stages of setting up a gold refinery at its Bangalore manufacturing facility. The products developed at this facility will be used for the company’s export business as well as for its India operations.
Analyst: Ajeya Patil

Rajesh Exports

Q4FY2018 [ended March] Earnings Update