Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector. 

Equity Research experience of over 20 years. Earlier, Analyst for leading Buy and Sell-side institutions, covering markets in ASEAN, India, and North Asia. Expertise spans various sectors - Consumer Discretionary, Media, Textiles, Oil, Gas, and Coal.
Passionate about mindfulness and meditation.

Investment Research - Asia Consumer Sector

Consumer Tales Aug Wk#2: DFI Retail Pivots, Kalyan Glitters, Ola Lists, FirstCry IPO Closes

Brainbees (FIRSTCRY IN): First Results Fail to Cheer. Lock-In Expiry May Test Stock Resilience

Brainbees Solutions (FirstCry) IPO: Key Facts, Financials and Valuations

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Capital Markets

BrainBees Solutions / Equity Capital Markets

<ul>
<li>We highlight several red flags  with regard to <a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (0172540D IN)</a> operations, business strategy and governance for investors' careful consideration.</li>
<li>At the announced IPO price band of Rs440 - Rs465, Brainbees implied EV/Revenues (FY24) works out to 3.5X - 3.7X - a significant discount to India listed online retail verticals.</li>
<li>Despite seemingly inexpensive relative valuations, we do not see a compelling reason to invest in the company, specially given the several red flags discussed below.</li>
</ul>


We highlight several red flags  with regard to BrainBees Solutions (0172540D IN) operations, business strategy and governance for investors' careful consideration.
At the announced IPO price band of Rs440 - Rs465, Brainbees implied EV/Revenues (FY24) works out to 3.5X - 3.7X - a significant discount to India listed online retail verticals.
Despite seemingly inexpensive relative valuations, we do not see a compelling reason to invest in the company, specially given the several red flags discussed below.


FSN E-Commerce Ventures (Nykaa) (NYKAA IN)

BrainBees Solutions IPO: Five Facts Why FirstCry Is Not a First Class Company