Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Stylam Industries (SYIL IN) 3QFY24: Concall Highlights, Margin Expansion

Stylam (SYIL IN): Laminate Growth Play In India with 25% CAGR Growth

Stylam Industries Q1 FY24: Slow Revenue Quarter, But Healthy Margin Expansion and 32% Profit Growth

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>While the profitability of <a href="https://www.smartkarma.com/entities/stylam-industries-ltd" target="_blank" data-smartkarma-citation="entities:13492:1" rel="noopener">Stylam Industries (SYIL IN)</a> is growing healthily (&gt;30% YoY) in H1 FY24 due to margin expansion, revenues are trending at -4.5% YoY.</li>
<li>The company became net cash in H1 FY24 (73 crore INR)  and zero gross debt. A strong balance sheet would aid in the company's expansion plans. </li>
<li>Trading at 23x/18x FY24e/25e, we see strong growth ahead for the company as it cements its position as one of India's top laminate export players. </li>
</ul>


While the profitability of Stylam Industries (SYIL IN) is growing healthily (&gt;30% YoY) in H1 FY24 due to margin expansion, revenues are trending at -4.5% YoY.
The company became net cash in H1 FY24 (73 crore INR)  and zero gross debt. A strong balance sheet would aid in the company's expansion plans. 
Trading at 23x/18x FY24e/25e, we see strong growth ahead for the company as it cements its position as one of India's top laminate export players. 


Stylam Industries (SYIL IN): Sluggish Exports, FY25 To See Improvements With Expansion