Quarterly Dashboard Sample

Regulatory overhang continues to keep stocks under pressure Q4 results have been a mixed bag on expected lines. By the end of Q4, the equity market had been in a consolidation phase for almost 18 months within the same range. Such long range bound consolidations tend to depress broking volumes in the cash segment, this segment is typically…

Regulatory action picks up pace Over the past few years the insurance sector has had to deal with an active regulator and a Government that is keen to plug tax loopholes across asset classes. A few of the draft papers and policy decisions announced over the recent past include – Some of these developments can potentially…

Discretionary spending starts to slow down, predictably Ever since the prospect of a technical recession broke in the US, it was mere prudence to get a bit cautious about the growth visibility for IT Services businesses. Every time the US Fed has embarked on an aggressive rate tightening regime, it has always broken something in the economy. This…

A virtuous cycle playing out Lenders got hit with a lot of uncertainty in 2020 which continued through FY21. It is only after the emergence of common knowledge that COVID related dislocations and lockdowns were surely past us that the sector started recovering from the doldrums. As the environment started tending towards normalcy, banks saw…

The business momentum continues to pick up pace All time high revenue, all time high order books and no speed breakers visible for the next few quarters. This is common to most businesses in these sectors, not just the businesses that are represented in our dashboard. India has been underinvesting into gross fixed capital since…

It’s all about the category Q4 results have largely been in line with the management commentary of Q3 investor calls. Usually this is a sign of a stable industry where the management is able to foresee what challenges they can run into and to what extent these challenges can be handled proactively. The big takeaway of the Q3…

Global inventory glut continues to impact growth & margins Q4 numbers were on expected lines for this sector. Generic products in the global market have been stuck in an inventory glut, there was a stock up cycle at the peak of the COVID mania in FY21 and FY22. Once supply chains started normalizing in FY23, channel inventory was…

High quality management teams that are focused on market share gain over the medium term It was obvious going into FY23 that margins would come under pressure due to high input cost prices and that the rural markets would struggle to absorb excessive price hikes. What these management teams did in FY23 was to accept the situation for what…

The chosen few The auto ancillary industry segment has more than 100 listed companies in India. Barring the top 12-13 companies by market cap, the rest are all small caps in a technical sense (below market cap of 12,000 Cr). Scale is very difficult to come by in this segment, but those that manage to…

Cables & Wires set for a good FY24, Consumer durables outlook may improve only in H2 FY24 The business momentum within cables & wires is visible for everyone to see. Expectations of double digit volume growth, price stability in copper price after a volatile FY23 and now excellent traction in the international market too. Players are embarking on…

A mixed bag on expected lines Till FY20 end not many investors cared about this sector, once the price run of FY21 began too many started caring all of a sudden. My experience has been that it takes an investor 2-3 years to truly understand the quality of a business, the ability to differentiate between a good…