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

Equity Bottom-Up

Deepak Fertilisers & Petro / Equity Bottom-Up

<ul>
<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> reported impressive financial results for Q2 FY25 with a 13% YoY growth in revenue, a 73% increase in  EBITDA, and margin expansion to 18%.</li>
<li>Company is operating at ~98% Capacity utilisation and also planning capex of 4500 Crores.</li>
<li>Management emphasised the company's <strong>ongoing transition from commodity to specialty products across business segments.</strong> This strategic shift aims to enhance margins, cater to evolving customer needs, and strengthen market leadership.</li>
</ul>



Deepak Fertilisers &amp; Petro (DFPC IN) reported impressive financial results for Q2 FY25 with a 13% YoY growth in revenue, a 73% increase in  EBITDA, and margin expansion to 18%.
Company is operating at ~98% Capacity utilisation and also planning capex of 4500 Crores.
Management emphasised the company's ongoing transition from commodity to specialty products across business segments. This strategic shift aims to enhance margins, cater to evolving customer needs, and strengthen market leadership.


Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

<ul>
<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> commissioned 500KT of ammonia plant that will remove their dependence on import of critical raw material.</li>
<li>DFPCL's TAN capacity stands at 629 KTPA, with plans to increase it to 1,000 KTPA by FY26 through a new facility in Gopalpur, Odisha.</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> is about to complete its restructuring by creating a separate subsidiary for mining chemicals, which in future they may plan to list separately. </li>
</ul>



Deepak Fertilisers &amp; Petro (DFPC IN) commissioned 500KT of ammonia plant that will remove their dependence on import of critical raw material.
DFPCL's TAN capacity stands at 629 KTPA, with plans to increase it to 1,000 KTPA by FY26 through a new facility in Gopalpur, Odisha.

Deepak Fertilisers &amp; Petro (DFPC IN) is about to complete its restructuring by creating a separate subsidiary for mining chemicals, which in future they may plan to list separately. 


The Beat Ideas: Deepak Fertilizers - Specialty Chemical, Capex, Debottlenecking!

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>In the overheated Indian markets where selling spree by promoters is going at record pace.</li>
<li>We identified certain interesting companies where promoters are buying giving confidence in their business</li>
<li>We further delve into the thesis and key triggers for these companies</li>
</ul>


In the overheated Indian markets where selling spree by promoters is going at record pace.
We identified certain interesting companies where promoters are buying giving confidence in their business
We further delve into the thesis and key triggers for these companies


Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aarti-industries-limited" target="_blank" data-smartkarma-citation="entities:6583:1" rel="noopener">Aarti Industries (ARTO IN)</a>  is planning a huge capex of 2500 Cr, which will increase their PPE by more than 50% from current CWIP and new capex.</li>
<li>Company is targeting 1450 to 1700Cr EBITDA in next year which is almost 1.5x to 2x of the existing EBITDA.</li>
<li>Introducing new products in the value chain, which has high-value added and high margins.</li>
</ul>



Aarti Industries (ARTO IN)  is planning a huge capex of 2500 Cr, which will increase their PPE by more than 50% from current CWIP and new capex.
Company is targeting 1450 to 1700Cr EBITDA in next year which is almost 1.5x to 2x of the existing EBITDA.
Introducing new products in the value chain, which has high-value added and high margins.


The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

India

Deepak Fertilisers & Petrochemicals Corporation Ltd. manufactures anhydrous liquid ammonia and other heavy chemicals and fertilizers. The Company also manufactures synthetic resins and methanol and it sells its fertilizers under the brand name "Mahadhan."

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Deepak Fertilisers & Petro (DFPC IN)

Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Sudarshan Bhandari

The Beat Ideas: Deepak Fertilizers - Specialty Chemical, Capex, Debottlenecking!

Deepak Fertilisers & Petro (DFPC IN) boosts self-reliance with new ammonia plant, plans expansion and restructuring for future growth.

Sudarshan Bhandari

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...

Nimish Maheshwari

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

The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

The Beat Ideas: Aarti Industries - Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Deepak Fertiliser Q2 FY25 Results: A Detailed Analysis

​Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Sudarshan Bhandari

The Beat Ideas: Deepak Fertilizers - Specialty Chemical, Capex, Debottlenecking!

​Deepak Fertilisers & Petro (DFPC IN) boosts self-reliance with new ammonia plant, plans expansion and restructuring for future growth.

Sudarshan Bhandari

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

​Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...

Nimish Maheshwari

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

The Beat Ideas: Aarti Industries Ltd.- Capex, Growth, Value Addition!

The Beat Ideas: Aarti Industries - ​Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.

Sudarshan Bhandari

Deepak Fertilisers & Petro reported strong Q2 results, focusing on transition to specialty products for higher margins and market leadership.

Deepak Fertilisers & Petro (DFPC IN) boosts self-reliance with new ammonia plant, plans expansion and restructuring for future growth.

Indian markets see record promoter selling, but some companies show confidence with promoter buying. Article explores thesis and key triggers for...

The Beat Ideas: Aarti Industries - Aarti Industries plans significant capex to boost EBITDA and expand product offerings with high margins.