Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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.

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Equity Bottom-Up

Hyundai Motor India Limited (HMIL) is the Indian subsidiary of the South Korean automobile manufacturer Hyundai Motor Company. It manufactures and sells a wide range of four-wheeler passenger vehicles, including sedans, hatchbacks, sports-utility vehicles (SUVs), and electric vehicles (EVs), along with related parts such as transmissions and engines. The company also provides after-sales activities and engineering services. Hyundai Motor India was founded on May 6, 1996, and is headquartered in Gurugram, Haryana, India, with a registered office in Kancheepuram, Tamil Nadu, India.

<ul>
<li>After a difficult Q1 FY27, Hyundai delivered 219,072 wholesale units in July–September 2026, up 23.0% sequentially, including a company-record 77,916 units in September.</li>
<li>The rebound reflects normalized production and healthier domestic momentum after supplier fire caused a loss of approximately 13,900 units of June production. Nevertheless, Q2 sales disclosures establish volumes, not profitability.</li>
<li>Short-Term execution risk has diminished, but investment conviction depends on margins recovering toward FY27 guidance and on tangible delivery against the company's FY2030 SUV, alternative-powertrain, localisation and revenue targets.</li>
</ul>


After a difficult Q1 FY27, Hyundai delivered 219,072 wholesale units in July–September 2026, up 23.0% sequentially, including a company-record 77,916 units in September.
The rebound reflects normalized production and healthier domestic momentum after supplier fire caused a loss of approximately 13,900 units of June production. Nevertheless, Q2 sales disclosures establish volumes, not profitability.
Short-Term execution risk has diminished, but investment conviction depends on margins recovering toward FY27 guidance and on tangible delivery against the company's FY2030 SUV, alternative-powertrain, localisation and revenue targets.


Hyundai Motor India: From a Disrupted Q1 to Record Q2 Volumes — Can the 2030 Roadmap Rebuild Growth?

Laurus Labs is a research-driven, integrated pharmaceutical and biotechnology company specializing in Active Pharmaceutical Ingredients (APIs), generic formulations, and Contract Development and Manufacturing Organization (CDMO) services. The company is a global leader in antiretroviral (ARV) APIs and has diversified into oncology, cardiovascular, and biotechnology segments. Laurus Labs is headquartered in Hyderabad, India, and was founded in 2005.

<ul>
<li>FY26 CDMO revenue rose 36%, while Q1 FY27 CDMO accelerated 67% and reached 43% of quarterly revenue.</li>
<li>Commercial and late-stage programmes, peptides and fermentation are shifting Laurus toward higher-complexity, higher-margin outsourced development and manufacturing.</li>
<li>The earnings recovery is now visible, but the valuation increasingly requires successful commissioning, utilisation and return-on-capital delivery from growth CAPEX.</li>
</ul>


FY26 CDMO revenue rose 36%, while Q1 FY27 CDMO accelerated 67% and reached 43% of quarterly revenue.
Commercial and late-stage programmes, peptides and fermentation are shifting Laurus toward higher-complexity, higher-margin outsourced development and manufacturing.
The earnings recovery is now visible, but the valuation increasingly requires successful commissioning, utilisation and return-on-capital delivery from growth CAPEX.


Laurus Labs: 3 Core Catalyst Behind The Growth Runway

Thematic (Sector/Industry)

<ul>
<li>Aether Industries, Anupam Rasayan and Acutaas Chemicals are developing international chemical opportunities; Linde India is positioning around gas supply for India’s emerging manufacturing ecosystem.</li>
<li>Chemical suppliers can address established overseas demand before India’s new commercial fabs begin volume production. </li>
<li>Acutaas’ Korean operation and Anupam’s US acquisition also show that exporting molecules can evolve into manufacturing close to customers.</li>
</ul>


Aether Industries, Anupam Rasayan and Acutaas Chemicals are developing international chemical opportunities; Linde India is positioning around gas supply for India’s emerging manufacturing ecosystem.
Chemical suppliers can address established overseas demand before India’s new commercial fabs begin volume production. 
Acutaas’ Korean operation and Anupam’s US acquisition also show that exporting molecules can evolve into manufacturing close to customers.


Semiconductor Chemicals: Four Listed Indian Companies, Two Different Markets

Raymond is a diversified Indian conglomerate with primary business interests in textile and apparel sectors, along with a presence in consumer care, realty, and engineering. The company manufactures worsted fabrics, denim, garments, precision tools, and auto components, and also engages in real estate development. Raymond Limited was incorporated in 1925 and is headquartered in Mumbai, India.

<ul>
<li>Aerospace &amp; Defence revenue rose 40.4% YoY to INR 123 crore in Q1 FY27, versus 26% growth in FY26.</li>
<li>The aerospace business is a materially higher-margin activity than Raymond’s precision technology and auto-components vertical. </li>
<li>Raymond should increasingly be analysed as a precision-manufacturing platform rather than through its legacy conglomerate identity. </li>
</ul>


Aerospace &amp; Defence revenue rose 40.4% YoY to INR 123 crore in Q1 FY27, versus 26% growth in FY26.
The aerospace business is a materially higher-margin activity than Raymond’s precision technology and auto-components vertical. 
Raymond should increasingly be analysed as a precision-manufacturing platform rather than through its legacy conglomerate identity. 


Raymond Limited: The Scaling Aerospace Business

Event-Driven

HealthCare Global Enterprises / Event-Driven

HealthCare Global Enterprises is a leading healthcare provider in India, specializing in comprehensive cancer diagnosis and treatment, including medical oncology, radiation therapy, and surgical oncology. The company also offers fertility treatments under the Milann brand, advanced screening and diagnostic services, and multi-specialty hospital care. It was founded in 1989 (initially as Bangalore Institute of Oncology) and is headquartered in Bangalore, India.

<ul>
<li>The Supreme Court has questioned medicine markups and sought government consideration of wider margin restrictions; a universal 16% cap is not yet established.</li>
<li>Earnings exposure depends on drug billing, procurement economics, and contract terms, while restrictions on captive pharmacy purchases could create a separate volume risk.</li>
<li>Investors should distinguish recoverable earnings pressure from weaker pricing power, then assess whether expansion returns justify existing valuation assumptions.</li>
</ul>


The Supreme Court has questioned medicine markups and sought government consideration of wider margin restrictions; a universal 16% cap is not yet established.
Earnings exposure depends on drug billing, procurement economics, and contract terms, while restrictions on captive pharmacy purchases could create a separate volume risk.
Investors should distinguish recoverable earnings pressure from weaker pricing power, then assess whether expansion returns justify existing valuation assumptions.


Supreme Court Drug-Pricing Scrutiny in India: Which Hospital Earnings Are Actually Exposed?

Nimish Maheshwari, an independent analyst and co-founder of Beat The Street, is an investing platform garnering more than 1,00,000+ followers across social media. 
His deep insights and forensic analysis have been featured in some of India's most prominent publications, including the Economic Times, The Morning Context, The Ken,  Dalal Street Investment Journal, Moneylife by Sucheta Dalal, and TheCore.in.
He has a keen eye for identifying red flags in Indian listed companies and has identified exclusive red flags earlier in Adani, Vedanta, Nykaa, Gland Pharma, Brightcom Group etc.

Nimish Maheshwari
Market & Forensics Analyst
• Beat the Street

Hyundai Motor India: From a Disrupted Q1 to Record Q2 Volumes — Can the 2030 Roadmap Rebuild Growth?

Hyundai: Whether SUV-led product renewal, multi-fuel diversification and technology integration can turn that recovery into durable earnings growth?

Nimish Maheshwari

Laurus Labs: 3 Core Catalyst Behind The Growth Runway

Laurus Labs has moved beyond the FY24 earnings trough. The next leg depends on whether peptides, late-stage CDMO programmes and an unusually heavy...

Nimish Maheshwari

Semiconductor Chemicals: Four Listed Indian Companies, Two Different Markets

Indian companies are preparing for semiconductor value chain. Two methods- Chemicals and Gases, Chemicals offers export opportunity vs Gases offer...

Nimish Maheshwari

Raymond Limited: The Scaling Aerospace Business

Raymond’s aerospace vertical is now moving from acquired capability to scaled execution, supported by long-cycle programs, growing order book, and...

Nimish Maheshwari

Supreme Court Drug-Pricing Scrutiny in India: Which Hospital Earnings Are Actually Exposed?

As the Supreme Court targets hospital drug markups, which earnings are actually exposed? Read our breakdown of true margin risks beyond headline...

Nimish Maheshwari