Equity Analyst, Investory

Devi Subhakesan

Investment Research

Equity Research experience of over 20 years include working at leading Buy and Sell-side institutions, covering markets in ASEAN, India, and North Asia. Multi-sector coverage included - Consumer Staples/Discretionary, Media, Textiles, Oil, Gas, and Coal. 
Passionate about mindfulness and meditation.

Equity Analyst

2025 High Conviction: Samsung Electronics

LG Electronics India IPO: It's A Big Deal. Potential Pricing and Valuation Preview

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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 Bottom-Up

<ul>
<li>Samsung India Electronics, a 100% subsidiary of <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, reported a 2024 turnover of USD 12 bn, ranking it among India’s largest consumer sector companies.</li>
<li>It is a leading player in smartphones, smart TVs, and home appliances, with FY2024 revenues 4.5X that of <a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics India (123D IN).</a>
</li>
<li>Estimated valuations of Samsung India Electronics could represent nearly 20% to 25% of its parent’s EV, when valued using India peer group multiples.</li>
</ul>


Samsung India Electronics, a 100% subsidiary of Samsung Electronics (005930 KS), reported a 2024 turnover of USD 12 bn, ranking it among India’s largest consumer sector companies.
It is a leading player in smartphones, smart TVs, and home appliances, with FY2024 revenues 4.5X that of LG Electronics India (123D IN).

Estimated valuations of Samsung India Electronics could represent nearly 20% to 25% of its parent’s EV, when valued using India peer group multiples.


Samsung India Electronics: The Biggest Consumer Company in India. Financials & Valuation