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

Brown Forman Corp Class B / Equity Bottom-Up

<ul><li>The company reported net sales growth climbed by 3%, with organic net sales growth up by 2%.</li><li>Jack Daniel's Tennessee Whiskey, Jack Daniel's Tennessee Apple, and El Jimador all had continued increases in the quarter, which fueled organic net sales growth.</li><li>Jack Daniel's Tennessee Apple increased organic net sales by more than half.</li></ul>

The company reported net sales growth climbed by 3%, with organic net sales growth up by 2%.Jack Daniel's Tennessee Whiskey, Jack Daniel's Tennessee Apple, and El Jimador all had continued increases in the quarter, which fueled organic net sales growth.Jack Daniel's Tennessee Apple increased organic net sales by more than half.

Brown-Forman Corporation: The New Distribution Business in Slovakia Could Be A Decent Revenue Contributor? - Major Drivers

<ul><li>Brown-Forman managed to surpass the revenue expectations and the earnings expectations of Wall Street.</li><li>With an increase in reported net sales, driven by organic growth and favorable price/mix, Brown-Forman demonstrated its ability to navigate challenges and capitalize on consumer demand.</li><li>Brands like Jack Daniel's Tennessee Whiskey and Woodford Reserve were standout performers, showing organic net sales growth and capturing consumer attention through innovative campaigns and partnerships.</li></ul>

Brown-Forman managed to surpass the revenue expectations and the earnings expectations of Wall Street.With an increase in reported net sales, driven by organic growth and favorable price/mix, Brown-Forman demonstrated its ability to navigate challenges and capitalize on consumer demand.Brands like Jack Daniel's Tennessee Whiskey and Woodford Reserve were standout performers, showing organic net sales growth and capturing consumer attention through innovative campaigns and partnerships.

Credit

<ul><li>Brown-Forman Corporation is one of the largest alcohol manufacturing companies across the globe and is particularly known for owning the Jack Daniel’s brand of American whiskey.</li><li>Its volume growth has been good in the recent results with Jack Daniel's RTDs and New Mix expanding by double digits in many key markets like Mexico.</li><li>Higher prices across the portfolio, led by Jack Daniel's family of brands, which also helped boost organic net sales.</li></ul>

Brown-Forman Corporation is one of the largest alcohol manufacturing companies across the globe and is particularly known for owning the Jack Daniel’s brand of American whiskey.Its volume growth has been good in the recent results with Jack Daniel's RTDs and New Mix expanding by double digits in many key markets like Mexico.Higher prices across the portfolio, led by Jack Daniel's family of brands, which also helped boost organic net sales.

Brown-Forman Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

Brown Forman Corp Class B / Equity Capital Markets

<ul><li>This is our first report on Brown-Forman Corporation, one of the biggest alcohol manufacturing companies in the world.</li><li>RTDs also contributed to growth, with Jack Daniel's RTDs and New Mix expanding by double digits in Mexico.</li><li>Higher prices remained throughout the portfolio, led by Jack Daniel's family of brands, which also helped boost organic net sales.</li></ul>

This is our first report on Brown-Forman Corporation, one of the biggest alcohol manufacturing companies in the world.RTDs also contributed to growth, with Jack Daniel's RTDs and New Mix expanding by double digits in Mexico.Higher prices remained throughout the portfolio, led by Jack Daniel's family of brands, which also helped boost organic net sales.

Brown-Forman Corporation: Initiation of Coverage – Business Strategy & Key Drivers

APAC IPOs & Placements, Aequitas Research

Ethan Aw

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.

Allied Blenders & Distillers / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allied-blenders-distillers" target="_blank" data-smartkarma-citation="entities:36090:1" rel="noopener">Allied Blenders &amp; Distillers (ABD IN)</a> is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and Equirus Capital will be the bookrunners.</li>
<li>ABD is the largest Indian-owned Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between FY14 and FY21.</li>
<li>ABD has grown its brand over time and managed to stay profitable, despite COVID-19. However, sales volume has yet to return to pre-COVID levels, along with its profitability. </li>
</ul>



Allied Blenders &amp; Distillers (ABD IN) is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and Equirus Capital will be the bookrunners.
ABD is the largest Indian-owned Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between FY14 and FY21.
ABD has grown its brand over time and managed to stay profitable, despite COVID-19. However, sales volume has yet to return to pre-COVID levels, along with its profitability. 


Allied Blenders and Distillers Pre-IPO - Yet to Recover from COVID-19

United States

Brown-Forman Corporation manufactures, bottles, imports, exports, and markets a wide variety of alcoholic beverage brands. The Company's products include branded whiskey, vodka, wines, tequila, bourbon, and gin.

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Brown Forman Corp Class B (BF/B US)

Brown-Forman Corporation: The New Distribution Business in Slovakia Could Be A Decent Revenue Contributor? - Major Drivers

The company reported net sales growth climbed by 3%, with organic net sales growth up by 2%. Jack Daniel's Tennessee Whiskey, Jack Daniel's...

Baptista Research

Brown-Forman Corporation: How Resilience

Brown-Forman managed to surpass the revenue expectations and the earnings expectations of Wall Street. With an increase in reported net sales,...

Baptista Research

Brown-Forman Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

Brown-Forman Corporation is one of the largest alcohol manufacturing companies across the globe and is particularly known for owning the Jack...

Baptista Research

Brown-Forman Corporation: Initiation of Coverage – Business Strategy & Key Drivers

This is our first report on Brown-Forman Corporation, one of the biggest alcohol manufacturing companies in the world. RTDs also contributed to...

Baptista Research

Allied Blenders and Distillers Pre-IPO - Yet to Recover from COVID-19

Allied Blenders & Distillers (ABD IN) is looking to raise about US$250m in its upcoming India IPO. I-Sec, Axis Capital, JM Financial, Kotak and...

Ethan Aw

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