Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: A-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

KPIT Tech: Earnings and Growth Visibility Remain Strong

KPIT Tech: Robust Earnings and Strong Guidance

KPIT Tech: Strong Execution; Margins Exceed Expectation

KPIT Tech: Analysis and Impact of the New Compensation Scheme

KPIT Technologies: A Pure Play on Automotive Technology

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

<ul>
<li>Since our initiation note on Jun 3, 2020, KPIT Tech's (KPIT) stock has rose &gt;8x. And we are still counting, as we see IRR potential of 20%+ over next 3Y. </li>
<li>KPIT reported outstanding Q2FY22 earnings. Despite guiding for margin contraction last quarter, KPIT surprised with margin expansion. It also reported strong growth in revenues and a robust deal flow.</li>
<li>Backed by a healthy order book, KPIT raised FY22 growth guidance to 18-20% from mid-teens earlier. It also guided to maintain FY22 EBITDA margins at 17.5%+ vs 16.5-17% guided earlier.</li>
</ul>


Since our initiation note on Jun 3, 2020, KPIT Tech's (KPIT) stock has rose &gt;8x. And we are still counting, as we see IRR potential of 20%+ over next 3Y. 
KPIT reported outstanding Q2FY22 earnings. Despite guiding for margin contraction last quarter, KPIT surprised with margin expansion. It also reported strong growth in revenues and a robust deal flow.
Backed by a healthy order book, KPIT raised FY22 growth guidance to 18-20% from mid-teens earlier. It also guided to maintain FY22 EBITDA margins at 17.5%+ vs 16.5-17% guided earlier.


KPIT Technologies

KPIT Tech: 8-Bagger And Counting!