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

PSU Banks Vs Private Banks: Who Is Winning?

India’s Kavach 4.0: The ₹50,000 Crore Safety Boom Enters High-Gear

The Beat Ideas: Sequent Scientific Merger - CDMO Optionality with Margin Upside

SEBI MF Regulations 2026: Expectations Vs. Reality

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>HBL Power Systems (renamed HBL Engineering) has secured the first RDSO approval for Kavach 4.0, propelling its order book to over INR 4,000 crore as of December 2025. </li>
<li>HBL is entering its most intensive execution phase to date, with a revenue guidance of INR 3,000 crore for FY26 (a ~55% jump YoY).</li>
<li>The Railway Board has cancelled approximately 7,000 undelivered units industry-wide, effectively weeding out underperforming vendors and preparing for a massive 18,429-unit re-tender cycle.</li>
</ul>


HBL Power Systems (renamed HBL Engineering) has secured the first RDSO approval for Kavach 4.0, propelling its order book to over INR 4,000 crore as of December 2025. 
HBL is entering its most intensive execution phase to date, with a revenue guidance of INR 3,000 crore for FY26 (a ~55% jump YoY).
The Railway Board has cancelled approximately 7,000 undelivered units industry-wide, effectively weeding out underperforming vendors and preparing for a massive 18,429-unit re-tender cycle.


The Beat Idea: HBL Engineering- The "Moat" Of Kavach 4.0 and Defense Revolution