Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/coromandel-international-ltd" target="_blank" data-smartkarma-citation="entities:15305:1" rel="noopener">Coromandel International (CRIN IN)</a>,a key Murugappa Group company, acquired a 53% controlling stake in <strong>NACL Industries</strong> for INR 820Crs on March 12, 2025 at <strong>INR 76.70 per share.</strong>
</li>
<li>NACL Industries is a Hyderabad-based agrochemical firm with manufacturing units, a diverse product portfolio, and technical export capabilities, including a presence in contract manufacturing.</li>
<li>With this merger at decent valuation, Murugappa group(which is known for efficient capital allocation) certainly make it more efficient and value accretive for their business. </li>
</ul>



Coromandel International (CRIN IN),a key Murugappa Group company, acquired a 53% controlling stake in NACL Industries for INR 820Crs on March 12, 2025 at INR 76.70 per share.

NACL Industries is a Hyderabad-based agrochemical firm with manufacturing units, a diverse product portfolio, and technical export capabilities, including a presence in contract manufacturing.
With this merger at decent valuation, Murugappa group(which is known for efficient capital allocation) certainly make it more efficient and value accretive for their business. 


Coromandel's Strategic Play for NACL Industries: Bottom of the Agrochem Cycle Bargain?

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chambal-fertilisers-and-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:13473:1" rel="noopener">Chambal Fertilisers &amp; Chemicals (CHMB IN)</a>’s Capacity expansion in IMACID, focusing on phosphoric acid production, Technical Ammonium Nitrate (TAN) project, and entry into biologicals.</li>
<li>
<a href="https://www.smartkarma.com/entities/coromandel-international-ltd" target="_blank" data-smartkarma-citation="entities:15305:1" rel="noopener">Coromandel International (CRIN IN) is also expanding </a> capacity that include a 7.5 lakh tons of NPK facility and a 2 lakh tons phosphoric acid plant at Kakinada. </li>
<li>
<a href="https://www.smartkarma.com/entities/deepak-fertilisers-petro" target="_blank" data-smartkarma-citation="entities:9768:1" rel="noopener">Deepak Fertilisers &amp; Petro (DFPC IN)</a> Capacity expansions for technical ammonium nitrate (TAN) and nitric acid. Investments in a world-scale ammonia plant, and shift to specialty products.</li>
</ul>



Chambal Fertilisers &amp; Chemicals (CHMB IN)’s Capacity expansion in IMACID, focusing on phosphoric acid production, Technical Ammonium Nitrate (TAN) project, and entry into biologicals.

Coromandel International (CRIN IN) is also expanding  capacity that include a 7.5 lakh tons of NPK facility and a 2 lakh tons phosphoric acid plant at Kakinada. 

Deepak Fertilisers &amp; Petro (DFPC IN) Capacity expansions for technical ammonium nitrate (TAN) and nitric acid. Investments in a world-scale ammonia plant, and shift to specialty products.


Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN)</a>'s consolidated Q3 &amp; 9M FY25 results show a 12% revenue growth and a 79% surge in EBITDA, despite challenges in its sugar segment.</li>
<li>The robust margins and diversified revenue streams strengthen EID Parry's overall resilience, enabling it to offset sector-specific challenges and tap into emerging growth opportunities.</li>
<li>The Company's future capital allocation is expected to prioritize ethanol blending and consumer products, contingent on a sustainable policy framework.</li>
</ul>



Eid Parry India (EID IN)'s consolidated Q3 &amp; 9M FY25 results show a 12% revenue growth and a 79% surge in EBITDA, despite challenges in its sugar segment.
The robust margins and diversified revenue streams strengthen EID Parry's overall resilience, enabling it to offset sector-specific challenges and tap into emerging growth opportunities.
The Company's future capital allocation is expected to prioritize ethanol blending and consumer products, contingent on a sustainable policy framework.


E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN) </a>A Murugappa Group Company setting stage for transformation from cyclical sugar business to more stable consumer and high margin business. </li>
<li>The company has diversified into the non-sweetener segment and is emphasizing an asset-light model to drive further expansion.</li>
<li>
<a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN)</a> is also the holding company of <a href="https://www.smartkarma.com/entities/coromandel-international-ltd" target="_blank" data-smartkarma-citation="entities:15305:1" rel="noopener">Coromandel International (CRIN IN)</a>, which holds substantial intrinsic value. </li>
</ul>



Eid Parry India (EID IN) A Murugappa Group Company setting stage for transformation from cyclical sugar business to more stable consumer and high margin business. 
The company has diversified into the non-sweetener segment and is emphasizing an asset-light model to drive further expansion.

Eid Parry India (EID IN) is also the holding company of Coromandel International (CRIN IN), which holds substantial intrinsic value. 


The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

<ul>
<li>SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. </li>
<li>As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.</li>
<li>This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.</li>
</ul>


SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. 
As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.
This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.


SEBI's F&O Criteria Revision & Its Impact

India

Coromandel International Ltd. manufactures fertilizers and pesticides.  The Company produces both chemical and organic fertilizers, insecticides, fungicides, herbcides, and plant biostimulant.

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Coromandel International (CRIN IN)

Coromandel's Strategic Play for NACL Industries: Bottom of the Agrochem Cycle Bargain?

Coromandel International acquires 53% stake in NACL Industries for INR 820Crs, enhancing Murugappa Group's efficiency and value.

Nimish Maheshwari

Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

Nimish Maheshwari

E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

Sudarshan Bhandari

The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

According to the ET Now, sources say that restrictions on sugar exports may soon be relaxed. Approval for the export of 10 lakh tonnes of sugar is...

Sudarshan Bhandari

SEBI's F&O Criteria Revision & Its Impact

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Coromandel's Strategic Play for NACL Industries: Bottom of the Agrochem Cycle Bargain?

​Coromandel International acquires 53% stake in NACL Industries for INR 820Crs, enhancing Murugappa Group's efficiency and value.

Nimish Maheshwari

Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

​Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

Nimish Maheshwari

E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

​EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

Sudarshan Bhandari

The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

According to the ET Now, sources say that restrictions on sugar exports may soon be relaxed. Approval for the export of 10 lakh tonnes of sugar is...

Sudarshan Bhandari

SEBI's F&O Criteria Revision & Its Impact

​SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Coromandel International acquires 53% stake in NACL Industries for INR 820Crs, enhancing Murugappa Group's efficiency and value.

Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...