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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ganesha-ecosphere-ltd" target="_blank" data-smartkarma-citation="entities:12751:1" rel="noopener">Ganesha Ecosphere (GNPL IN)</a> is expanding from textiles to FMCG packaging with rPET granules, aiming for a 10-12% market share in the recycled PET market by 2029.</li>
<li>The shift to high-margin rPET products and expansion into FMCG packaging aligns with regulatory trends and growing demand for sustainable materials.</li>
<li>GEL’s strategic focus on high-value, sustainable products and robust market position suggests significant growth potential and improved profitability.</li>
</ul>



Ganesha Ecosphere (GNPL IN) is expanding from textiles to FMCG packaging with rPET granules, aiming for a 10-12% market share in the recycled PET market by 2029.
The shift to high-margin rPET products and expansion into FMCG packaging aligns with regulatory trends and growing demand for sustainable materials.
GEL’s strategic focus on high-value, sustainable products and robust market position suggests significant growth potential and improved profitability.


The Beat Ideas: How Ganesha Ecosphere Is Shaping the Future of Recycling?

Thematic (Sector/Industry)

<ul>
<li>Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. </li>
<li>Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. </li>
<li>There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.</li>
</ul>


Bangladesh, India's 2nd largest trading partner in Asia is under a political crisis leading to instability and uncertainty. 
Companies impacted by Bangladesh Crisis in India across sectors and across market caps listed below. 
There might be short-term impact, but in long run, there would not be much impact as overall exposure is not that much.


Bangladesh Chaos: Impact on Indian Companies

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chain.</li><li>Vardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity addition</li><li>Healthy cash flows have enabled VTL to maintain reasonable debt levels.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chain.Vardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity additionHealthy cash flows have enabled VTL to maintain reasonable debt levels.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vardhman Textiles - Cotton Price Parity Critical for Margin Improvement…

<ul><li>Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chain</li><li>Vardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity addition</li><li>Target Price and Valuation: We value VTL at Rs 3125 i.e. 11x FY24E earnings.</li></ul><div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chainVardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity additionTarget Price and Valuation: We value VTL at Rs 3125 i.e. 11x FY24E earnings.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vardhman Textiles: Increasing Capacity to Benefit from Strong Demand

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

In a recent media article, it was headlined that ‘Yarn Stocks on HNI Radar’. The headline comes on the back of a stellar performance of yarn and related textile stocks post the COVID era, owing to an exponential price hike in the same. The price hike was attributed to several industry related external factors such as limited supply, pent up demand, etc. due to the lockdown last year. As the economy prepares for another lockdown, albeit a fragmented one rather than nation-wide, it has created a hysteria of another phase of stellar performance in the coming months.
However on the contrary, our hypothesis which is supported by industry channel checks in Bhilwada, one of the textile hug of India, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very tricky situation going ahead.
We commence with the industry overview and what happened in the post COVID era that led to the frenzy last fiscal, and then move on to understand the uncertainty aspect hovering around in current scenario.

In a recent media article, it was headlined that ‘Yarn Stocks on HNI Radar’. The headline comes on the back of a stellar performance of yarn and related textile stocks post the COVID era, owing to an exponential price hike in the same. The price hike was attributed to several industry related external factors such as limited supply, pent up demand, etc. due to the lockdown last year. As the economy prepares for another lockdown, albeit a fragmented one rather than nation-wide, it has created a hysteria of another phase of stellar performance in the coming months.
However on the contrary, our hypothesis which is supported by industry channel checks in Bhilwada, one of the textile hug of India, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very tricky situation going ahead.
We commence with the industry overview and what happened in the post COVID era that led to the frenzy last fiscal, and then move on to understand the uncertainty aspect hovering around in current scenario.

India

Vardhman Textiles Limited manufactures textile products. The Company offers wide  range of greige and dyed yarns in cotton, polyester, acrylic, and a variety of blends. Vardhman Textiles serves customers worldwide.

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Vardhman Textiles (VTEX IN)

The Beat Ideas: How Ganesha Ecosphere Is Shaping the Future of Recycling?

Ganesha Ecosphere is targeting a 10-12% market share in recycled PET market by 2029, expanding into FMCG packaging with rPET granules to align...

Sudarshan Bhandari

Bangladesh Chaos: Impact on Indian Companies

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Vardhman Textiles - Cotton Price Parity Critical for Margin Improvement…

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the...

ICICI Securities Limited

Vardhman Textiles: Increasing Capacity to Benefit from Strong Demand

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the...

ICICI Securities Limited

Textiles Industry- Is It Over Hyped?

Channel checks in Bhilwada, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very...

Nitin Mangal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: How Ganesha Ecosphere Is Shaping the Future of Recycling?

​Ganesha Ecosphere is targeting a 10-12% market share in recycled PET market by 2029, expanding into FMCG packaging with rPET granules to align...

Sudarshan Bhandari

Bangladesh Chaos: Impact on Indian Companies

​Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...

Sudarshan Bhandari

Vardhman Textiles - Cotton Price Parity Critical for Margin Improvement…

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the...

ICICI Securities Limited

Vardhman Textiles: Increasing Capacity to Benefit from Strong Demand

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the...

ICICI Securities Limited

Textiles Industry- Is It Over Hyped?

Channel checks in Bhilwada, indicates that the last year events were one-off in nature and the industry might face a doomsday as it poses a very...

Nitin Mangal

Ganesha Ecosphere is targeting a 10-12% market share in recycled PET market by 2029, expanding into FMCG packaging with rPET granules to align...

Political crisis in Bangladesh is causing instability, impacting India's 2nd largest trading partner in Asia. Companies may see short-term...