External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Archean Chemical Industries / Equity Bottom-Up

<ul><li>Archean Chemical Industries Q3FY24 numbers surprised on all fronts, exceeding our expectations.</li><li>Consolidated Revenue at Rs 413 Cr, up by 13%/42% YoY/QoQ, beat our estimate by 39%.</li><li>EBITDA stood at Rs 145 Cr, higher on a QoQ basis (up -9%/52% YoY/QoQ), also surpassing our estimates by 34%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Archean Chemical Industries Q3FY24 numbers surprised on all fronts, exceeding our expectations.Consolidated Revenue at Rs 413 Cr, up by 13%/42% YoY/QoQ, beat our estimate by 39%.EBITDA stood at Rs 145 Cr, higher on a QoQ basis (up -9%/52% YoY/QoQ), also surpassing our estimates by 34%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Archean Chemical Industries Ltd - Strong Volume Beat in Industrial Salt Aided by Recovery in SOP

<ul><li>Archean Chemical Industries Limited (Archean or ACIL) is a leading Marine Chemical manufacturer from India engaged in the production and sale of Bromine (Br), Industrial Salt (NaCL), and Sulphate of Potash (K₂SO₄) from its leased brine reserves located in the Rann of Kutch, Gujarat.</li><li>ACIL has one of the largest integrated production facilitiesat Hajipur (Gujarat), which has a strategic proximity to Jakhau Jetty and Mundra Port, making exports easier and smoother.</li><li>The company plans to forward integrate its business in Bromine derivatives – an established extension followed across global major Bromine producers, into Flame Retardants, Clear Brine Fluids, and PTA Synthesis Catalyst. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Archean Chemical Industries Limited (Archean or ACIL) is a leading Marine Chemical manufacturer from India engaged in the production and sale of Bromine (Br), Industrial Salt (NaCL), and Sulphate of Potash (K₂SO₄) from its leased brine reserves located in the Rann of Kutch, Gujarat.ACIL has one of the largest integrated production facilitiesat Hajipur (Gujarat), which has a strategic proximity to Jakhau Jetty and Mundra Port, making exports easier and smoother.The company plans to forward integrate its business in Bromine derivatives – an established extension followed across global major Bromine producers, into Flame Retardants, Clear Brine Fluids, and PTA Synthesis Catalyst. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Archean Chemical - Specialty or Commodity Business? Our Take – a Special Commodity!

Thematic (Sector/Industry)

<ul><li>Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.</li><li>Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.</li><li>Growth prospects remain uncertain as a clear upward trend has yet to emerge.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals &amp; Agrochemicals: In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains subdued and weak pricing persists.Volume growth is anticipated compared to the previous quarter, which was affected by several headwinds, including weak demand (with exceptions in a few segments), logistical challenges at ports, and adverse weather conditions.Growth prospects remain uncertain as a clear upward trend has yet to emerge.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vishnu-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:4917:1" rel="noopener">Vishnu Chemicals (VCL IN)</a>  is now backward integrated with the soda ash, CO2 Gas plant and ore requirement to overcome the challenge of raw material price volatility. </li>
<li>Company operated in niche &amp; specialty chemical segment and will launch detailed  capex plan in Q2 for forward integration. </li>
<li>Management aims to consolidate EBITDA margins around 17.5%-18% by year-end, with a target of achieving consistent margins at 20% over the next 2-3 years.</li>
</ul>



Vishnu Chemicals (VCL IN)  is now backward integrated with the soda ash, CO2 Gas plant and ore requirement to overcome the challenge of raw material price volatility. 
Company operated in niche &amp; specialty chemical segment and will launch detailed  capex plan in Q2 for forward integration. 
Management aims to consolidate EBITDA margins around 17.5%-18% by year-end, with a target of achieving consistent margins at 20% over the next 2-3 years.


The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Shiva Pharmachem Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiva-pharmachem-limited" target="_blank" data-smartkarma-citation="entities:40109:1" rel="noopener">Shiva Pharmachem Limited (9155347Z IN)</a> is looking to raise around US$110m in its India IPO.</li>
<li>It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Shiva Pharmachem Limited (9155347Z IN) is looking to raise around US$110m in its India IPO.
It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&amp;Sullivan .
In this note, we talk about the company’s historical performance.


Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

India

Archean Chemical Industries Private Limited operates as a mining company. The Company produces industrial salt, liquid bromine, coal, pavers, and cobbles. Archean Chemical Industries serves customers in India.

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Archean Chemical Industries (ACI IN)

Archean Chemical Industries Ltd - Strong Volume Beat in Industrial Salt Aided by Recovery in SOP

Archean Chemical Industries Q3FY24 numbers surprised on all fronts, exceeding our expectations. Consolidated Revenue at Rs 413 Cr, up by 13%/42%...

Axis Direct

Archean Chemical - Specialty or Commodity Business? Our Take – a Special Commodity!

ACIL has one of the largest integrated production facilitiesat Hajipur (Gujarat), which has a strategic proximity to Jakhau Jetty and Mundra Port,...

Axis Direct

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains...

Axis Direct

The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...

Sudarshan Bhandari

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

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52-week Range

Market Cap (USDm)

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Archean Chemical Industries Ltd - Strong Volume Beat in Industrial Salt Aided by Recovery in SOP

Archean Chemical Industries Q3FY24 numbers surprised on all fronts, exceeding our expectations. Consolidated Revenue at Rs 413 Cr, up by 13%/42%...

Axis Direct

Archean Chemical - Specialty or Commodity Business? Our Take – a Special Commodity!

ACIL has one of the largest integrated production facilitiesat Hajipur (Gujarat), which has a strategic proximity to Jakhau Jetty and Mundra Port,...

Axis Direct

Q2FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

In Q2FY25, most specialty chemical companies under coverage are expected to show marginally improved performance, although demand recovery remains...

Axis Direct

The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers

​Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...

Sudarshan Bhandari

Shiva Pharmachem Pre-IPO - High Borrowings Along with Expansion Plans Leading to Liquidity Concerns

Shiva PharmaChem is looking to raise around US$110m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Vishnu Chemicals (VCL IN) aims to overcome raw material price volatility by backward integration and plans to improve EBITDA margins to 20% in the...