Company analysis

After 2 years

PEXA Stock going to Zero?

Has the Capability Curve Run Ahead of the Price Curve?

Through Charts

On Capex spree

Zuckerberg Is Doing It Again

Value trap or Opportunity?

Greenshoots?

— but with an asterisk*

India's future semi-conductor play?

Business model has undergone a transformative shift

India's Dominant Airport QSR & Lounge Operator

AI PSU Play

only pure-play, India-listed proxy

Falling knife or Value Buy

NSE: MTARTECH · Precision Engineering → Defense · Space · Nuclear · Clean Energy

NSE: RATEGAIN - The Invisible Highway of Global Travel Commerce

900 PE Giant

India's Largest Domestic CDMO

3 cylinder growth engine

Story in Charts

50 EH/s Banked, AI Cloud Gets Real

India's largest broking platform

Can it Challenge Nvidia's Monopoly

Pure Play Drug Discovery

When a company’s stock breaks out to a multi-year high say, a 7-8 year peak it often signals more than just price movement. It reflects a shift in sentiment, renewed investor…

Upcoming IPO

(NSE: WINDLAS)

Q4 FY2025

(IREN)

Understanding note

Powergrid InvIT (Infrastructure Investment Trust) owns, constructs, operates, maintains, and invests in power transmission assets in India. The below slide from their investor…

Are good days ahead?

Windlas, Innova ,Akums

Revival and Rerating

Upcoming IPO

Key Insights from DHRP

Understanding Innovation

Read Part 1 and 2 In this post we will cover the companies who have reported their results CDSL JM Financial CDSL CDSL had another fantastic quarter, the market activity has been…

Read part 1 here In this post we will focus on Laurus Labs Ami Organics Piramal Pharma Laurus Labs Laurus Labs had another soft quarter both from top line and bottom line…

I review business I am interested in quarterly, once in six months or yearly, Here is my take on each one We will do over 3 or 4 posts in some logical grouping and as results are…

Lets answer some key questions What is driving the growth of the solar industry in India? The growth of the solar industry in India is being fueled by a combination of factors:…

SaaS powerhouse on ASX

Hot IPO or Sustainable compounder

Understanding Companies

Porter 5 force analysis

Child has overtaken Parent

Why the Buzz?

Has time come?

Value Buy or Value trap

Interesting opportunity

Deep Value or Value Trap

Neuland labs is a 30+year-old Hyderabad-based Pharmaceutical company engaged in R&D, manufacturing and marketing of a wide range of bulk drugs, intermediates and custom synthesis…

Last year we did an opening note on Neuland Labs and how the company is moving up in Pharma value chain, The company recently announced its full year revenue and the results are…

When you a see a table like below in an annual report it immediately stands out. In 24 years Sales are up - 100X Profits are up - 155x All at a decent ROE, no wonder long term…

Neuland labs is a 30+year-old Hyderabad-based Pharmaceutical company engaged in R&D, manufacturing and marketing of a wide range of bulk drugs, intermediates and custom synthesis…

Best to read this post on a desktop CDMO stands for contract development and manufacturing organisation The CDMO industry started out decades ago as a niche service, offering…

The first thing that striked me as long term follower and investor in the company is the subtle sense of courage, aspiration and pride communicated by management when I was…

I learned the concept of Debt Capacity bargain from Prof Sanjay Bakshi vicariously and wrote on MOIL using the framework. NBCC is looking like a similar opportunity e.g. in March…

Uncle Iroh is my favorite character in the animation series The Last Airbender Uncle Iroh is known for his words of wisdom as he freely advises most of the other characters…

Ashiana is a perfect example of a good company caught in an extremely difficult external environment. The industry was facing a slowdown and COVID is going to give a death blow to…

ITC is the one stock today which is splitting investing community in half It has got attention from even famed traders As good students of history we will go back to what Mr.…

In my last update to you in 2017, I had pointed out that the Important variables to track for this company are Topline growth Return on Capital not impacted due to tiles expansion…

According to Adrian J. Slywotzky, “value migration” is the flow of economic and shareholder value away from an increasingly outmoded business design toward others that are better…

Let me refresh your memory from this 2015 chart on how Ajanta pharma, Granules India and Suven Life Sciences were operating in different sections of the industry Five years and…

In March 2020 we got an opportunity to add to scorecard a rock-solid franchise at about ~20 times earnings growing operations in high double digits run by an extremely smart…

Destiny is a tower of cards - nudge one just an inch and everything stacked on top comes crashing down Darren Shan You can read the rest of the post on Annual review of Satin…

Most governments would mandate below to corporate offices/places of business which are opening-up COVID-19 spreads through respiratory droplets produced when an infected person…

Reading transcripts of Neville Noronhna is a master class in understanding retail market dynamics, D-Mart’s company culture and insight into building a fantastic business Here are…

In last four years, the business mix of Piramal Enterprises has changed completely With financial services forming lion share of top line and bottom line. Right from start, the…

My last year review of Ashiana housing can be read here where we concluded that The company has diversified into different cities but they are significantly dependent on Bhiwadi.…

Established in 1875, BSE Ltd is the oldest stock exchange in Asia and operates the BSE exchange platform (formerly Bombay Stock Exchange). People often refer BSE as a duopoly with…

To get yourself familiar with Ajanta Pharma read my opening post about the company. In last year review sent to premium subscribers, we had projected below There was steep…

Virat Kohli picture is not a coincidence he is “Mr Consistent” run-scoring machine for Indian cricket team just like GRUH finance the money making top-notch HFC. I have done the…

I have written about Suven multiple times, you can read previous updates here to get familiar with the company 2014 - Introduction to company 2015 - Identifying multiple triggers…

Previously I wrote on Canfin homes here The sustained outperformance was noticed when I was reviewing GRUH and REPCO a few days back **** GRUH Finance and REPCO homes both had…

I have previously written by Suven Life Science here and here Reading and learning about Suven Life sciences has been huge learning curve, it has taught me few things Forecasting…

There is a beautiful passage in Steven Johnson’s Where Good Ideas come from “Good ideas are like the neo nurture device. They are, inevitably constrained by the parts and skills…

Another year gone, Got my hands on Kitex Annual report and updated the Earnings Power Box. Lets look at how the company has fared Before you proceed, its better you go through…

The rest of post is inspired by and adapted from this wonderful post on debt capacity bargains by Prof Sanjay Bakshi. MOIL, a Mini Ratna, is India‘s largest producer of manganese…

Update - 13/03/2016 : Post publication of this note, Rep from Satin credit care got in touch with me and provided some clarification on some concerns I had raised . I am editing…

How to Value Ashiana housing ? Prof Bakshi has beautifully explained this in one of the comments on his blog, I am reproducing it below for you to read and think. The approach I…

Recently Eros media international has been in news although not for good reasons :) Eros which is also listed in NYSE was downgraded by Wells Fargo ,a leading banking and…

La Opala is one of the prominent kitchen utensils (tableware) companies in India, The Company’s brands comprise La Opala, Diva and Solitaire. Solitaire is directed at the high-end…

Last year I wrote on Suven Life Sciences, also I did some secondary level maths to get a sense of returns an investor could get buying the business at then market cap (~2000 INR…

Reading well detailed annual reports have their own pleasure. Today, post is on annual review of Poddar developers , I have written couple of times on Poddar here and here Numbers…

Annual Review - CERA for year 2015

Firstly pharmaceutical is a space which I have started learning recently (2 years) and therefore it’s obvious that some of inferences that I will make in below review could be…

Gruh - Annual review for year 2014- 2015

Did it occur to you some companies in an industry continue to make money while others barely survive. The classic case is that of airline industry where large airlines are…

Valuing companies is a combination of art and science The DND Flyway (Delhi Noida Direct Flyway) is an eight-laned 9.2 km access controlled tolled expressway which connects Delhi…

Valuing companies is a combination of art and science CERA sanity ware is fast growing consumer focussed bathroom solution company, which we will try to value in this post

Paying for growth -2 is a follow up post on Symphony Ltd

First of all pharmaceutical business is not my forte, this analysis was done to learn a new industry About Company - Suven Life Sciences, in the business of design, manufacture…

Economics matter – Manugraph India “When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the…

Previously I have written about how to identify stock investments Like Peter Lynch here Using Pause and Play here By following smart money here One of the pointers in Ten point…

We recently added V mart to our model portfolio The organized retail sector, which consists of only 5% of total retail market, is estimated to touch 15% by 2025. India has few…

Symphony Limited is a pure growth buy, By pure intrinsic value parameters it is an expensive stock. But we have to look that there has been huge re rating for this company in recent years and we continue to believe that will be case. A high risk investmen