India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Tata Motors Limited manufactures cars and commercial automotive vehicles in India. The Company designs, manufactures and sells heavy commercial, medium commercial and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

<ul>
<li>Tata Motors posted its highest-ever annual revenue and PBT for FY25, with strong sequential growth in Q4 driven by robust performance in both commercial and passenger vehicle segments.</li>
<li>The company successfully managed to navigate global trade and tariff challenges, improved its profitability through cost-saving measures, and expanded its leadership in electric mobility.</li>
<li>The results demonstrate Tata Motors’ resilience and long-term growth strategy, especially with a continued focus on electric vehicles and new product innovations.</li>
</ul>


Tata Motors posted its highest-ever annual revenue and PBT for FY25, with strong sequential growth in Q4 driven by robust performance in both commercial and passenger vehicle segments.
The company successfully managed to navigate global trade and tariff challenges, improved its profitability through cost-saving measures, and expanded its leadership in electric mobility.
The results demonstrate Tata Motors’ resilience and long-term growth strategy, especially with a continued focus on electric vehicles and new product innovations.


Tata Motors Q4 & FY25 Update: Strong Financial Performance with Focus on EV Growth

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/welspun-india-ltd" target="_blank" data-smartkarma-citation="entities:9284:1" rel="noopener">Welspun India (WLSI IN)</a> plans to expand Sintex’s market presence, targeting 5% share in pipes within 7 years, with substantial investment.</li>
<li>US-China tariff cuts could reduce India’s export advantage, but sectors like pharma and IT can benefit from shifts.</li>
<li>India's retail inflation drops to 3.16% in April from 3.34% in March, driven by falling food prices.</li>
</ul>



Welspun India (WLSI IN) plans to expand Sintex’s market presence, targeting 5% share in pipes within 7 years, with substantial investment.
US-China tariff cuts could reduce India’s export advantage, but sectors like pharma and IT can benefit from shifts.
India's retail inflation drops to 3.16% in April from 3.34% in March, driven by falling food prices.


#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

<ul>
<li>MFN policy aims to align US drug prices with the lowest prices paid by other developed nations, potentially resulting in significant price reductions.</li>
<li>Indian pharma players have limited impact, considering only few companies have notable presence in branded markets</li>
<li>Repercussions for pharma are wider in terms of potential lower R&amp;D spend along with squeezed margins. Though implementation of policy key moniterable</li>
</ul>


MFN policy aims to align US drug prices with the lowest prices paid by other developed nations, potentially resulting in significant price reductions.
Indian pharma players have limited impact, considering only few companies have notable presence in branded markets
Repercussions for pharma are wider in terms of potential lower R&amp;D spend along with squeezed margins. Though implementation of policy key moniterable


Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pvr-inox-limited" target="_blank" data-smartkarma-citation="entities:10144:1" rel="noopener">Pvr Inox (PVRINOX IN)</a> reports wider Q4 loss due to weak film releases, urban spending slowdown, and decline in audience turnout.</li>
<li>
<a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a> faces scrutiny over derivative accounting discrepancy, with auditors questioning if it should be classified as fraud.</li>
<li>Shares of China+1 stocks, including <a href="https://www.smartkarma.com/entities/dixon-technologies-india-ltd" target="_blank" data-smartkarma-citation="entities:25486:1" rel="noopener">Dixon Technologies India Ltd (DIXON IN)</a> , Welspun, and <a href="https://www.smartkarma.com/entities/srf-ltd" target="_blank" data-smartkarma-citation="entities:3601:1" rel="noopener">SRF Ltd (SRF IN)</a> , dip after US-China trade deal reduces tariff uncertainty.</li>
</ul>



Pvr Inox (PVRINOX IN) reports wider Q4 loss due to weak film releases, urban spending slowdown, and decline in audience turnout.

Indusind Bank (IIB IN) faces scrutiny over derivative accounting discrepancy, with auditors questioning if it should be classified as fraud.
Shares of China+1 stocks, including Dixon Technologies India Ltd (DIXON IN) , Welspun, and SRF Ltd (SRF IN) , dip after US-China trade deal reduces tariff uncertainty.


#145 India Insight: PVR Inox Posts Wider Q4 Loss, IndusInd Faces Audit Scrutiny, China+1 Stocks Dip

KDDL Ltd designs and markets watches components.

<ul>
<li>KDDL's precision engineering division, Eigen, is expanding its manufacturing capacity with a new facility and further upgrades planned, aiming to capture high-growth sectors like aerospace, automotive, and medical devices.</li>
<li>This expansion enhances KDDL's competitive edge in precision engineering, a high-margin segment, and aligns with the company's goal of making Eigen a significant revenue contributor, targeting 40-50% of manufacturing revenue.</li>
<li>The focus on precision engineering and premium retail through Ethos positions KDDL for sustained growth, balancing stable manufacturing revenue with high-margin luxury retail.</li>
</ul>


KDDL's precision engineering division, Eigen, is expanding its manufacturing capacity with a new facility and further upgrades planned, aiming to capture high-growth sectors like aerospace, automotive, and medical devices.
This expansion enhances KDDL's competitive edge in precision engineering, a high-margin segment, and aligns with the company's goal of making Eigen a significant revenue contributor, targeting 40-50% of manufacturing revenue.
The focus on precision engineering and premium retail through Ethos positions KDDL for sustained growth, balancing stable manufacturing revenue with high-margin luxury retail.


The Beat Ideas: KDDL- Precision Engineering with Luxury Retail

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

Sudarshan Bhandari
India Equity Analyst - Fundamental & Thematic
• Beat the Street

Tata Motors Q4 & FY25 Update: Strong Financial Performance with Focus on EV Growth

Tata Motors achieves record revenue and profitability in FY25, showcasing resilience, cost-saving measures, and leadership in electric mobility.

Sudarshan Bhandari

#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

Sudarshan Bhandari

Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...

Sudarshan Bhandari

#145 India Insight: PVR Inox Posts Wider Q4 Loss, IndusInd Faces Audit Scrutiny, China+1 Stocks Dip

PVRINOX IN reports wider Q4 loss, IIB IN faces scrutiny over derivative accounting, China+1 stocks dip post US-China trade deal.

Sudarshan Bhandari

The Beat Ideas: KDDL- Precision Engineering with Luxury Retail

KDDL's precision engineering division, Eigen, is expanding to capture high-growth sectors and enhance competitive edge, aiming for significant...

Sudarshan Bhandari

Tata Motors Q4 & FY25 Update: Strong Financial Performance with Focus on EV Growth

​Tata Motors achieves record revenue and profitability in FY25, showcasing resilience, cost-saving measures, and leadership in electric mobility.

Sudarshan Bhandari

#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

​Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

Sudarshan Bhandari

Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

​US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...

Sudarshan Bhandari

#145 India Insight: PVR Inox Posts Wider Q4 Loss, IndusInd Faces Audit Scrutiny, China+1 Stocks Dip

​PVRINOX IN reports wider Q4 loss, IIB IN faces scrutiny over derivative accounting, China+1 stocks dip post US-China trade deal.

Sudarshan Bhandari

The Beat Ideas: KDDL- Precision Engineering with Luxury Retail

​KDDL's precision engineering division, Eigen, is expanding to capture high-growth sectors and enhance competitive edge, aiming for significant...

Sudarshan Bhandari

Tata Motors achieves record revenue and profitability in FY25, showcasing resilience, cost-saving measures, and leadership in electric mobility.

Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...

PVRINOX IN reports wider Q4 loss, IIB IN faces scrutiny over derivative accounting, China+1 stocks dip post US-China trade deal.

KDDL's precision engineering division, Eigen, is expanding to capture high-growth sectors and enhance competitive edge, aiming for significant...