Bikaji Foods International IPO Trading - One of the Strongest Demand This Year
Bikaji Foods (BIKAJI IN) , an ethnic snacks company, raised approximately US$107m in its India IPO. In this note, we look at the demand and trading...
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Sapphire Foods IPO - Smallish Stock with Big (US$550m) Multiple PE Lockup Expiry
In Nov 2021, Sapphire Foods Limited, one of Yum Brand’s franchisees in the Indian subcontinent, raised around US$280m in its Indian IPO. In this...
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Asian Paints (APL) - Raw Material Costs Weigh on Margins…
The company derives ~98% revenue from the paints business while 2% business comes from the home improvement business (kitchen and bathroom fittings).
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Asian Paints - Near Term Challenges Persist
Asian Paints Q2FY23 print was disappointment across all fronts, mainly on margins front which was below ours and consensus estimates.
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Consumer Discretionary (Q2FY23 Results Preview): Expect a buoyant quarter; alas! bargains absent
Our discretionary universe is expected to grow by ~29% YoY (revenue) in Q2FY23 (3-year revenue/EBITDA CAGRs of 19/17% resp)
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