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

Zydus Lifesciences: The PBC Catalyst, From Generics Volume to Specialty Value

Thematic Report on India Diagnostics: The Great Consolidation and the Rise of Organized Chains

The Beat Ideas: NLC India-A 1.17 Lakh Crores Capex, Renewable Focus

The Beat Ideas: Nuvama Wealth – India’s Affluence Story at the Right Price?

Thematic Report on India’s Alcohol Market: Premiumization Trends and Regulatory Obstacles

Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

Thematic Report- India’s Dairy Sector: A Volatile Quarter, A Stronger Future

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

Thematic (Sector/Industry)

AU Small Finance Bank Limited (AUBANK IN)

<ul>
<li>After a decade of volatile, high-cost build-out, India's Small Finance Bank sector is at a inflection point, shifting decisively from high-risk MFI lending to diversified, secured loan books.</li>
<li>
Market skepticism, fueled by past MFI stress and value erosion, has left most SFBs trading at a 10-35% discount. This valuation disconnect ignores maturing branch networks and superior growth potential.</li>
<li>The sector's transformation is real, but not all SFBs are equal. The path to re-rating will be determined by execution in building a low-cost liability franchise.</li>
</ul>


After a decade of volatile, high-cost build-out, India's Small Finance Bank sector is at a inflection point, shifting decisively from high-risk MFI lending to diversified, secured loan books.

Market skepticism, fueled by past MFI stress and value erosion, has left most SFBs trading at a 10-35% discount. This valuation disconnect ignores maturing branch networks and superior growth potential.
The sector's transformation is real, but not all SFBs are equal. The path to re-rating will be determined by execution in building a low-cost liability franchise.


Ujjivan Small Finance Bank  (UJJIVANS IN)

Equitas Small Finance Bank  (EQUITASB IN)

Suryoday Small Finance Bank (SURYODAY IN)

Thematic Report on Small Finance Banks: The MFI Curse Is Fading & A New Era of Secured Growth Begins