Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

AutoZone, Inc. is a specialty retailer of automotive replacement parts and accessories. The Company offers an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products.  Autozone operates in United States and Puerto Rico, and Mexico.

<ul><li>AutoZone reported an 8.2% increase in total sales for the first quarter of fiscal 2026, driven by a combination of domestic and international performance.</li><li>Domestic same-store sales rose by 4.8%, and international sales were up 3.7% on a constant currency basis.</li><li>Although total earnings per share (EPS) experienced a decline of 4.6%, this was largely due to a $98 million non-cash LIFO charge.</li></ul>

AutoZone reported an 8.2% increase in total sales for the first quarter of fiscal 2026, driven by a combination of domestic and international performance.Domestic same-store sales rose by 4.8%, and international sales were up 3.7% on a constant currency basis.Although total earnings per share (EPS) experienced a decline of 4.6%, this was largely due to a $98 million non-cash LIFO charge.

AutoZone: An Insight Into Its Expanding Commercial Business

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Aurrigo International  / Equity Bottom-Up

Aurrigo International PLC provides transport technology solutions. The Company designs, engineers, manufactures, and supplies OEM products and autonomous vehicles to the automotive, aviation, and transport industries with consulting solutions. Aurrigo International serves clients worldwide.

<ul>
<li>The launch of the ‘Hub strategy’ programme will accelerate global commercialisation and licensing income from this manufacturer of autonomous airport vehicles.</li>
<li>The 'Hub strategy' is designed to align local partnerships, funding, operations and manufacturing with Aurrigo's proprietary technology platform.</li>
<li>The Hub partners and JVs will be at a local/subsidiary level to established regional ground operations and manufacturing capacity, to reduce risk, capital requirements and time to market. </li>
</ul>


The launch of the ‘Hub strategy’ programme will accelerate global commercialisation and licensing income from this manufacturer of autonomous airport vehicles.
The 'Hub strategy' is designed to align local partnerships, funding, operations and manufacturing with Aurrigo's proprietary technology platform.
The Hub partners and JVs will be at a local/subsidiary level to established regional ground operations and manufacturing capacity, to reduce risk, capital requirements and time to market. 


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

Raymond Ltd. manufactures fabrics, rugs, blankets, shawls, furnishing fabrics and garments.  The Company also manufactures files and rasps, file making machinery, H.S.S. twist drills, alloy steel forgings, bars and rods, steel strips and Portland cement.  The Company sells its woolen fabrics, woven materials and readymade garments through their retail outlets across India.

<ul>
<li>The latest results reveal strong double-digit growth in the newly separated Engineering business, confirming the strategic shift toward high-precision manufacturing in Aerospace &amp; Defence and Auto Components.</li>
<li>Successful completion and initial performance validation of the demerger process transforms Raymond into two pure-play, specialized manufacturing entities poised to capitalize on global "China + 1" and Indian aerospace tailwinds.</li>
<li>The structural re-rating thesis remains firmly intact, driven by accelerating margins in the Aerospace vertical and long-term contract visibility.</li>
</ul>


The latest results reveal strong double-digit growth in the newly separated Engineering business, confirming the strategic shift toward high-precision manufacturing in Aerospace &amp; Defence and Auto Components.
Successful completion and initial performance validation of the demerger process transforms Raymond into two pure-play, specialized manufacturing entities poised to capitalize on global "China + 1" and Indian aerospace tailwinds.
The structural re-rating thesis remains firmly intact, driven by accelerating margins in the Aerospace vertical and long-term contract visibility.


The Beat Ideas: Raymond’s Engineering Rebirth- The Aerospace & Defence Leap?

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Nauticus Robotics, Inc. operates as a software company. The Company cloud-based subsea robots and software to provides ocean robotic solutions for energy, aquaculture, and security applications. Nauticus Robotics serves customers worldwide.

<ul><li>KITT delivers an extensive range of subsea solutions using advanced autonomous robotics and specialized software. </li><li>Outfitted with high-tech sensors, intelligent navigation equipment, and powerful onboard computers, the robots are designed to execute complex underwater tasks independently, enhancing efficiency, improving safety, and lowering carbon intensity for customers.</li><li>For investors, KITT is the only pure-play autonomous underwater drone (AUD) company we are aware of.</li></ul>

KITT delivers an extensive range of subsea solutions using advanced autonomous robotics and specialized software. Outfitted with high-tech sensors, intelligent navigation equipment, and powerful onboard computers, the robots are designed to execute complex underwater tasks independently, enhancing efficiency, improving safety, and lowering carbon intensity for customers.For investors, KITT is the only pure-play autonomous underwater drone (AUD) company we are aware of.

KITT: WTR Small-Cap Spotlight Recap - CEO John Gibson on Positioning for 2026 with FET and More

Aptitude Software Group / Equity Bottom-Up

Aptitude Software Group PLC provides software solutions. The Company delivers financial management software applications for unifying, analyzing, and processing high volume, business event-driven transactions, scenarios, and calculations to deliver finance insight and control. Aptitude Software Group serves customers worldwide.

<ul>
<li>Aptitude Software Group 293p £161.44m (APTD.L) The provider of finance transformation software solutions specialising in fully autonomous finance announces a significant contract renewal and a go-live for its Fynapse intelligent finance data management and accounting platform.</li>
<li>The customer is a US-based global communications organisation and has renewed its contract for a further three years for £7.6m, which also includes the renewal of licences for Aptitude's leasing and revenue recognition engines.</li>
<li>Aptitude has also completed a successful Fynapse go-live trial highlighting Fynapse's ability to support mid-market and Tier 2 organisations with modern automation capabilities and rapid, efficient implementation.</li>
</ul>


Aptitude Software Group 293p £161.44m (APTD.L) The provider of finance transformation software solutions specialising in fully autonomous finance announces a significant contract renewal and a go-live for its Fynapse intelligent finance data management and accounting platform.
The customer is a US-based global communications organisation and has renewed its contract for a further three years for £7.6m, which also includes the renewal of licences for Aptitude's leasing and revenue recognition engines.
Aptitude has also completed a successful Fynapse go-live trial highlighting Fynapse's ability to support mid-market and Tier 2 organisations with modern automation capabilities and rapid, efficient implementation.


Hybridan Small Cap Feast: 10 December 2025

Autos and Autoparts
Autos and Autoparts Industry

AutoZone: An Insight Into Its Expanding Commercial Business

AutoZone reported an 8.2% increase in total sales for the first quarter of fiscal 2026, driven by a combination of domestic and international...

Baptista Research

Friday Take Away: 12 December 2025

The launch of the ‘Hub strategy’ programme will accelerate global commercialisation and licensing income from this manufacturer of autonomous...

Hybridan

The Beat Ideas: Raymond’s Engineering Rebirth- The Aerospace & Defence Leap?

Raymond's Engineering business sees strong double-digit growth post demerger, positioning the company as specialized manufacturing entities in...

Sudarshan Bhandari

KITT: WTR Small-Cap Spotlight Recap - CEO John Gibson on Positioning for 2026 with FET and More

KITT delivers an extensive range of subsea solutions using advanced autonomous robotics and specialized software. Outfitted with high-tech sensors,...

Water Tower Research

Hybridan Small Cap Feast: 10 December 2025

Aptitude Software Group 293p £161.44m (APTD.L) The provider of finance transformation software solutions specialising in fully autonomous finance...

Hybridan

AutoZone: An Insight Into Its Expanding Commercial Business

AutoZone reported an 8.2% increase in total sales for the first quarter of fiscal 2026, driven by a combination of domestic and international...

Baptista Research

Friday Take Away: 12 December 2025

The launch of the ‘Hub strategy’ programme will accelerate global commercialisation and licensing income from this manufacturer of autonomous...

Hybridan

The Beat Ideas: Raymond’s Engineering Rebirth- The Aerospace & Defence Leap?

​Raymond's Engineering business sees strong double-digit growth post demerger, positioning the company as specialized manufacturing entities in...

Sudarshan Bhandari

KITT: WTR Small-Cap Spotlight Recap - CEO John Gibson on Positioning for 2026 with FET and More

KITT delivers an extensive range of subsea solutions using advanced autonomous robotics and specialized software. Outfitted with high-tech sensors,...

Water Tower Research

Hybridan Small Cap Feast: 10 December 2025

Aptitude Software Group 293p £161.44m (APTD.L) The provider of finance transformation software solutions specialising in fully autonomous finance...

Hybridan

Raymond's Engineering business sees strong double-digit growth post demerger, positioning the company as specialized manufacturing entities in...