Stock research on global mid-cap companies

Evaluate Research

Evaluate Research provides institutional quality stock research on small-cap and  mid-cap companies on a global basis, thus helping connect investors with the company.

At Evaluate Research, we provide free of cost to all investors a 20-25 page Initiation Report which evaluates in great detail all aspects of the company:  growth opportunities, catalysts, business description, competitive positioning, SWOT analysis, risks, etc.  In addition, we determine specific price targets for the company based on detailed 5-year complete forecasts of financial statements including IS, BS, CF, ratios, etc.  Finally, whereas many sell-side brokers offer sketchy and irregular ongoing maintenance research of companies, if not outright dropped or termination of coverage, at Evaluate Research we systematically monitor and regularly publish Update Notes covering quarterly earnings, major corporate events, etc.

All of the research reports are broadly and freely disseminated globally to leading Fund Managers and analysts who invest specifically in mid-size equities, and also on leading investment information platforms including: Bloomberg, Thomson Reuters, FactSet etc.

Stock research on global mid-cap companies, Evaluate Research

Equity Bottom-Up

<p>Rajesh Exports reported a strong set of results for the first quarter ended June which is a record quarter for the company. Revenues were up by 91% YoY to Rs 151,442 mn, while the net income was up by 100% YoY to Rs 2,371 Mn. The net profit margin grew by 100bps to 1.6%. The company reported an EPS of Rs 8.03 vs Rs 4.01 for the last comparable quarter, registering an increase of 100%. The order book position as on June 30, 2015 was Rs 114,500 million which are to be completed by Oct 2015. We spoke with the company’s CMD Mr. Rajesh Mehta who noted that the strong outperformance was driven by export orders for designer jewelry from the Middle East which operates at higher margins than that of other export orders and a gradual increase in revenues from the retail business. Management has ambitious growth plans going forward which has been demonstrated through the recent acquisition of Valcambi, the world’s largest refiner. Management also plans to strengthen its foothold in the retail space going forward. We believe there are multiple synergies from Valcambi’s acquisition which if executed properly can result in a rapid growth in the company’s profitability over time.</p>

Rajesh Exports reported a strong set of results for the first quarter ended June which is a record quarter for the company. Revenues were up by 91% YoY to Rs 151,442 mn, while the net income was up by 100% YoY to Rs 2,371 Mn. The net profit margin grew by 100bps to 1.6%. The company reported an EPS of Rs 8.03 vs Rs 4.01 for the last comparable quarter, registering an increase of 100%. The order book position as on June 30, 2015 was Rs 114,500 million which are to be completed by Oct 2015. We spoke with the company’s CMD Mr. Rajesh Mehta who noted that the strong outperformance was driven by export orders for designer jewelry from the Middle East which operates at higher margins than that of other export orders and a gradual increase in revenues from the retail business. Management has ambitious growth plans going forward which has been demonstrated through the recent acquisition of Valcambi, the world’s largest refiner. Management also plans to strengthen its foothold in the retail space going forward. We believe there are multiple synergies from Valcambi’s acquisition which if executed properly can result in a rapid growth in the company’s profitability over time.

Rajesh Exports

Rajesh Exports: 1QFY2016 Earnings Update