Tips Music- Catalog is the new Oil
For decades, India’s music catalogues were like untapped oil fields. Labels like Tips spent years acquiring rights — painstakingly, track by track — only to watch their potential choked by piracy, weak copyright enforcement, and telecom bundling that crushed pricing power. Owning a catalogue often meant sitting on an asset earning a trickle of royalties, […]
Clean Science: Pioneering Green Chemistry in a Global Shift
Green Chemistry Pioneer in a Global Shift The Indian specialty chemicals sector has long talked about China+1, import substitution, and green chemistry—but few have executed at scale. Clean Science stands apart: a rare player that has mastered green chemistry at scale, enabling it to export even to China, the world’s one of the largest chemical […]
Neogen Chemicals: From Specialty Player to EV Battery Chemicals
For years, Neogen Chemicals has been known as a niche, high-return specialty chemicals player. But the company is moving from a pure-play specialty chemicals company to a critical supplier for the lithium-ion battery ecosystem. ₹1,500-Crore Bet on India’s EV Future Neogen Chemicals is investing in the future. With a ₹1,500 crore capex plan, the company […]
Afcom Holdings: Play on Air Cargo
Afcom Holdings is betting on building an airport-to-airport cargo business at a time when the market is starved for dedicated capacity. With guaranteed revenues, high load factors, and aggressive fleet expansion, the company sits squarely on strong aviation tailwinds. Industry Tailwinds Structural Growth – Aviation giants like Boeing and Airbus expect air cargo to grow […]
Shivalik Bimetal- Stock Analysis
Shivalik Bimetal Simultaneous play in three opportunities from your electric switchgear to smart meters and even EV batteries. Based in Himachal Pradesh, the company runs 3 manufacturing campuses and supplies 300+ OEMs across 38 countries. Their customers include global giants like Siemens, ABB, Schneider, Honeywell, Legrand, Havells, Eaton, L&T — and in autos, names like […]
Praj Industries- A business one of its kind
Look at this table. You’d probably think it belongs to a pharma firm, right? Year (Mar) R&D Spend (₹ Cr) Sales (₹ Cr) R&D as % of Sales 2019 20 1,141 2% 2020 23 1,102 2% 2021 21 1,305 2% 2022 27 2,343 1% 2023 40 3,528 1% 2024 98 3,466 3% 2025 70 3,228 […]
IREDA — Our Investment Case
While most traditional banks and NBFCs treat renewable energy as just one of many lending verticals, IREDA is uniquely positioned as a 100% renewable energy–focused financier, building a depth of sector expertise that generalist institutions cannot match. This exclusive focus also sets it apart from other large state-owned power financiers such as REC and PFC, […]
Manorama Industries 2.0
MANORAMA INDUSTRIES Manorama Industries has delivered a stellar ~340% return over the past 2 years — a rally that may seem like a missed opportunity for many retail investors. But we believe the story is far from over. In fact, the next leg of value creation might just be getting started. Global Cocoa Butter […]
Tata Motors: An EV Company
Spotting Market Mispricing: After Natco, We Turn to Tata Motors Markets make mistakes. And they usually don’t make them everywhere — they show up in pockets.If you’re not actively looking, you’ll miss them. Sometimes, the mispricing is obvious — like watching a fundamentally sound business punished for near-term volatility. Other times, it requires digging deep, […]
Natco Pharma – Betting on the Jockey
In the ever-evolving world of pharmaceuticals, very few companies strike a balance between aggressive R&D, specialty product focus, and financial consistency. Yet, Natco Pharma stands out. It ranks #2 among India’s leading pharma players in 5- and 10-year sales growth. It ranks #4 and #2 in 5- and 10-year profit growth, respectively. It commands the […]