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

<ul><li>The recent performance of Unilever highlights both strengths and potential challenges for the company.</li><li>The full year results for 2024 demonstrate a notable recovery, characterized by an overall increase in gross margin and consistent volume growth across various business segments.</li><li>Unilever's Growth Action Plan (GAP), launched in late 2023, appears to be yielding results, reflected in the underlying sales growth of 4.2%, driven by volume growth of 2.9% and pricing contributions of 1.3%.</li></ul>

The recent performance of Unilever highlights both strengths and potential challenges for the company.The full year results for 2024 demonstrate a notable recovery, characterized by an overall increase in gross margin and consistent volume growth across various business segments.Unilever's Growth Action Plan (GAP), launched in late 2023, appears to be yielding results, reflected in the underlying sales growth of 4.2%, driven by volume growth of 2.9% and pricing contributions of 1.3%.

Unilever PLC: Growth in Beauty & Wellbeing & Personal Care Segments Propelling Our ‘Outperform’ Rating!

<ul><li>The latest financial disclosures from Unilever indicate a blend of strategic realignment and robust financial performance amidst challenges.</li><li>In the first half of the year, Unilever reported a solid underlying sales growth of 4.1%, driven by a volume increase of 2.6%.</li><li>This performance is underscored by significant contributions from Unilever's "Power Brands," which saw a 5.7% growth in underlying sales, propelled by a 4% rise in volumes.</li></ul>

The latest financial disclosures from Unilever indicate a blend of strategic realignment and robust financial performance amidst challenges.In the first half of the year, Unilever reported a solid underlying sales growth of 4.1%, driven by a volume increase of 2.6%.This performance is underscored by significant contributions from Unilever's "Power Brands," which saw a 5.7% growth in underlying sales, propelled by a 4% rise in volumes.

Unilever PLC: Global Economic Fluctuations & 3 Major Challenges Halting Their Growth! - Major Drivers

<ul><li>Unilever has presented its full-year results, reflecting a mix of positive advancements and areas requiring improvement.</li><li>Among the highlights, Unilever reported an underlying sales growth of 7%, driven by a significant contribution from price increases at 6.8% and a marginal recovery in volume at 0.2%.</li><li>Notably, the 30 Power Brands demonstrated robust performance, accruing an 8.6% growth in underlying sales and contributing notably to the company’s volume growth.</li></ul>

Unilever has presented its full-year results, reflecting a mix of positive advancements and areas requiring improvement.Among the highlights, Unilever reported an underlying sales growth of 7%, driven by a significant contribution from price increases at 6.8% and a marginal recovery in volume at 0.2%.Notably, the 30 Power Brands demonstrated robust performance, accruing an 8.6% growth in underlying sales and contributing notably to the company’s volume growth.

Unilever PLC: How Will The Enhanced Productivity and Efficiency Measures Translate Into EBITDA Margins! - Major Drivers

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

Thematic (Sector/Industry)

<ul>
<li>Gold leasing rates have surged from 2-3% to 6-7%, squeezing jewellers margins. Higher funding costs and volatile gold prices are forcing industry leaders to reconsider pricing strategies.</li>
<li>Foreign companies in India paid the lowest tax on earnings in over 30 years in FY24, with the tax burden dropping significantly due to corporate tax cuts and GST reforms.</li>
<li>Despite slow growth in India, <a href="https://www.smartkarma.com/entities/unilever-plc-9bad7ce3-0d24-469f-831a-14bf19340303" target="_blank" data-smartkarma-citation="entities:28467:1" rel="noopener">Unilever (UL US)</a> remains committed to its local operations, with plans to focus on expanding its beauty &amp; wellbeing segment as part of its 2030 strategy.</li>
</ul>


Gold leasing rates have surged from 2-3% to 6-7%, squeezing jewellers margins. Higher funding costs and volatile gold prices are forcing industry leaders to reconsider pricing strategies.
Foreign companies in India paid the lowest tax on earnings in over 30 years in FY24, with the tax burden dropping significantly due to corporate tax cuts and GST reforms.
Despite slow growth in India, Unilever (UL US) remains committed to its local operations, with plans to focus on expanding its beauty &amp; wellbeing segment as part of its 2030 strategy.


#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

<ul>
<li>India is adapting to tougher US sanctions on Russian oil by rebuilding supply chains with non-sanctioned merchants, tankers, and insurance providers. </li>
<li>
<a href="https://www.smartkarma.com/entities/unilever-plc-9bad7ce3-0d24-469f-831a-14bf19340303" target="_blank" data-smartkarma-citation="entities:28467:1" rel="noopener">Unilever (UL US)</a>  plans to invest in India’s beauty and wellness sector, expecting improved demand conditions mid-term after fiscal stimulus.</li>
<li>
<a href="https://www.smartkarma.com/entities/british-american-tobacco-plc" target="_blank" data-smartkarma-citation="entities:21828:1" rel="noopener">British American Tobacco (BATS LN)</a> will divest its 15% stake in ITC Hotels at the "best moment," aiming to maximize shareholder value, following ITC Hotels demerger from <a href="https://www.smartkarma.com/entities/itc-ltd" target="_blank" data-smartkarma-citation="entities:327:1" rel="noopener">ITC Ltd (ITC IN)</a>  earlier.</li>
</ul>


India is adapting to tougher US sanctions on Russian oil by rebuilding supply chains with non-sanctioned merchants, tankers, and insurance providers. 

Unilever (UL US)  plans to invest in India’s beauty and wellness sector, expecting improved demand conditions mid-term after fiscal stimulus.

British American Tobacco (BATS LN) will divest its 15% stake in ITC Hotels at the "best moment," aiming to maximize shareholder value, following ITC Hotels demerger from ITC Ltd (ITC IN)  earlier.


#103 India Insight: India Adapts to US Sanctions, Unilever Invests in Beauty, BAT to Divest

United Kingdom

Unilever PLC manufactures personal care products. The Company offers consumer goods, food, detergents, fragrances, beauty, home, and personal care products. Unilever serves customers worldwide.

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Unilever (UL US)

Unilever PLC: Growth in Beauty & Wellbeing & Personal Care Segments Propelling Our ‘Outperform’ Rating!

The recent performance of Unilever highlights both strengths and potential challenges for the company. The full year results for 2024 demonstrate...

Baptista Research

Unilever PLC: Global Economic Fluctuations & 3 Major Challenges Halting Their Growth! - Major Drivers

The latest financial disclosures from Unilever indicate a blend of strategic realignment and robust financial performance amidst challenges. In...

Baptista Research

Unilever PLC: How Will The Enhanced Productivity and Efficiency Measures Translate Into EBITDA Margins! - Major Drivers

Unilever has presented its full-year results, reflecting a mix of positive advancements and areas requiring improvement. Among the highlights,...

Baptista Research

#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

Sudarshan Bhandari

#103 India Insight: India Adapts to US Sanctions, Unilever Invests in Beauty, BAT to Divest

India adapts to US sanctions on Russian oil by rebuilding supply chains; Unilever eyes investment in India's beauty sector; British American...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Unilever PLC: Growth in Beauty & Wellbeing & Personal Care Segments Propelling Our ‘Outperform’ Rating!

The recent performance of Unilever highlights both strengths and potential challenges for the company. The full year results for 2024 demonstrate...

Baptista Research

Unilever PLC: Global Economic Fluctuations & 3 Major Challenges Halting Their Growth! - Major Drivers

The latest financial disclosures from Unilever indicate a blend of strategic realignment and robust financial performance amidst challenges. In...

Baptista Research

Unilever PLC: How Will The Enhanced Productivity and Efficiency Measures Translate Into EBITDA Margins! - Major Drivers

Unilever has presented its full-year results, reflecting a mix of positive advancements and areas requiring improvement. Among the highlights,...

Baptista Research

#105 India Insight: Gold Leasing Rates Surge, Tax Cuts Ease Foreign Firms' Burden, Unilever Expands

​Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

Sudarshan Bhandari

#103 India Insight: India Adapts to US Sanctions, Unilever Invests in Beauty, BAT to Divest

​India adapts to US sanctions on Russian oil by rebuilding supply chains; Unilever eyes investment in India's beauty sector; British American...

Sudarshan Bhandari

Gold leasing rates surge, squeezing jewellers' margins; foreign companies in India enjoy lowest tax burden in 30 years; Unilever remains committed...

India adapts to US sanctions on Russian oil by rebuilding supply chains; Unilever eyes investment in India's beauty sector; British American...