Mr. Shalom Martin has pursued Macro-Masters in Entrepreneurship from IIM Bangalore, and a Specialisation in Brand Management from London Business School. Being a Certified Valuer and Investment Adviser, he is also a full-time stock market trader and trainer since 2014. He is also the Founder of Price Action Learning Academy. Till now, he has conducted more than 80 seminars across India on various subjects related to the Capital Market and mentored more than 3500 students in the field of Fundamental Analysis, Technical Analysis, and Price Action Trading Techniques.
Contributor since: 2022
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Equity Research: Honasa Consumer Ltd.
Honasa Looks attractive with higher growth potential and increasing CAGR.
Equity Research: Rashi Peripherals Limited
Rashi Peripherals Limited looks strong with increasing revenue and consistently increasing profit along with growing CAGR.
Deeper penetration of the internet among businesses and increasing number of user along with increasing ARPU will give strong up move to Indiamart Intermesh Ltd.
Equity Research: Sai Silks Kalamandir Ltd.
SSKL’s growth resilience and product affinity can be seen in its near-complete top-line recovery from the slowdown with improving CAGR.
IPO Analysis: Capital Small Finance Bank Ltd.
IPO analysis of Capital Small Finance Bank Ltd.
IPO Analysis: Epack Durable Ltd.
IPO Analysis of EPACK Durable Ltd.
IPO Analysis: Jyoti CNC and Automation Limited
IPO Analysis of Jyoti CNC and Automation Limited
DTTS Ltd look strong with huge order book and first mover advantage along with improving PAT
Equity Research: Venus Pipes & Tubes Ltd.
Strong sectoral tailwind along with improved profitability, net debt to EBITDA and improving CAGR makes Venus pipes looks attractive.
Jubilant FoodWorks Limited Looks fundamentally strong with high growth potential
Jubilant food works is expected to increase the store network at 13% CAGR over FY22-FY25E. The total store count will increase from 1,567 to 2,277 stores by FY25E, revenue and EBITDA CAGR ~19% and ~20% respectively over FY22-FY25E.
IPO Analysis: Happy Forging Ltd
IPO Analysis of Happy Forging Limited
IPO Analysis: Muthoot Microfin Ltd.
IPO Analysis of Muthoot Microfin Ltd.
Equity Research: Updater Services Ltd.
UDS looks strong for further growth along with growing network and strategic acquisition of high margin businesses.
SEIL is a leading player in its field and specializes in providing solutions for Smart Grid. SEIL’s solutions are used by electrical distribution (utilities) and power generation companies along with electro-intensive industry.
IPO Analysis: Tata Technologies Ltd.
IPO Analysis of Tata Technologies Ltd.
IPO Analysis: ESAF Small Finance Bank Limited
IPO Analysis of ESAF Small Finance Bank Limited.
Equity Research: RR Kabel Ltd.
RR Kabel Limited is a strong player in FMEG sector along with diversified product portfolio and improving export data and domestic demand.
Go fashion looks fundamentally strong for further growth.
Go Fashion looks strong for further growth with increasing CAGR by FY25
Cello World is a strong leader in Houseware, glassware, opalware with improving financials and expanding business along with diversified Catalog.
Raymond looks strong for further growth with increasing innovation and introduction of various outfits targeting different segments across clothing industry, which in turn will improve the company\'s CAGR.
IPO Analysis: IRM Energy Limited
IPO Analysis of IRM Energy Limited
IPO Analysis of Plaza Wire Ltd.
Wonderla Holidays Ltd. looks strong for further growth along with improving CAGR.
Wonderla Holidays Ltd. Looks strong with improving CAGR and improving balance sheet along with company\'s profit.
IPO Analysis of Yatra Online
IPO Analysis: JSW Infrastructure Limited
JSW Infrastructure limited is the fastest growing port related infra company, which looks strong for further growth.
Kaynes is expected to see a strong growth due to Favourable industry tailwinds, development of component/chips ecosystem in India leading to improving supply chains, in turn benefiting Indian EMS companies in terms of margins and working capital improvement, strong product mix and focus on adding high- margin segment, and on-boarding of new value-added customers.
Equity Research: Sula Vineyards Ltd.
Sula Vineyard looks strong with improving profit along with growing CAGR, increasing export data and declining import data. Wine consumption in India is expected to grow at 16%, similar to China due to increase in per capita income. Company’s board of directors has strong background along with execution capabilities and company ready to capture growth opportunities in the industry.
IEIL looks strong for further up move with strong order book and growing CAGR.
Industry Analysis: Defence Sector
Defence Sector looks attractive with huge growth potential. Significant reforms in the Indian defence industry have increased productivity, independence, and capability which will further boosts the profitability and future growth.
Equity Research: AIA Engineering
AIAE has gained a significant market share of 90–95% in India and 35–40% globally. Since only 18–22% of consumables have switched to high chrome, where AIAE\'s solutions outperform competitors with compelling value propositions, mining has enormous development potential.
Equity Research: Electronics Mart India Ltd.
EMIL looks strong with large number of store expansion and increasing profit and stable margin.
IPO Analysis: PKH Ventures Ltd.
IPO Analysis
IPO Analysis : Cyient DLM Ltd.
IPO Analysis
Equity Research: Piramal Pharma Ltd.
Piramal Pharma trades at 14.8x/12.6x Ev/Ebitda multiple on FY24/FY25 basis which is at a significant discount to Indian peers.
Equity Research: Triveni Turbine
With an installation base of 5,000 turbines in more than 70 countries, TRIV is the second largest industrial steam turbine player globally. Triveni turbine looks strong with increasing order book along with rising export opportunity
Equity Research: Apollo Pipes Ltd.
APOLP will continue to lead industry performance (15%/16%/23%/27% CAGR in volume/revenue/EBITDA/PAT over FY22- 25E), in our view, through key long-term growth drivers.
IPO Analysis: Nirman Agri Genetics Ltd.
IPO Analysis
Equity Research: Greenpanel Industries
Greenpanel Industries is anticipated to record increasing revenue along with strong surge in demand and growing customer base, with EBITDA, and PAT CAGRs of 17%/15%/23%. It is currently trading at 18x/15x FY23E/24E EPS.\r\n
IPO Analysis: Divgi Torque Transfer System Limited
IPO Analysis: Divgi Torque Transfer System Limited
Equity Research: Borosil Limited
Borosil limited is poised for a sustainable growth, with increasing CAGR of 27% from FY23E -FY25E.
Equity Research: Kirloskar Oil Engines Ltd
KOEL is expected to achieve a 43% earnings CAGR over the years FY22 to FY24E. As ARKA Fincap\'s capital infusion nears completion, KOELs balance sheet will be further strengthened as the company continues to produce an average FCF of INR 3.4 bn per annum (FY17–22), allowing it to close the current significant value gap with its competitors in the backup power market.
Equity Research: CE Info systems Limited
In FY23, opening order book of Rs7bn, which grew 88% year on year (24%), we expect the company to report a 46% revenue CAGR with improving EBITDA margin from FY22 to FY24.
Industry Analysis: Gold Finance
Gold Finance NBFCs are facing strong competition in the market but still their is a bright future ahead for NBFC\'s because of under-penetration in the field of gold financing and addition of new customer will keep their growth story intact.
Equity Research: Cantabil Retail India Ltd
Cantabil Retail India Ltd. to improve its expansion rate along with improving EBITDA and PAT margins.
Equity Research: Eicher Motors Ltd.
A larger addressable market and improved operational performance in the company\'s two-wheeler sector have set Eicher Motors Limited (EML) up for a robust recovery and performance up-shift. the valuation is yet to catch up expected recovery in performance, as the stock trades at a 20-25% discount to its historical average multiples, at 24.9x P/E and 21.7x EV/EBITDA on FY2024E estimates.
Equity Research: Praj Industries
The Praj Industries stock is currently trading at a P/E of 30.5x/24.1x on FY23/24E earnings. The company’s EBITDA improved from Rs687mn in FY17 to Rs1,938mn in FY22, owing strong traction in domestic business and better operational efficiencies.
Equity Research: Sansera Engineering Limited
Sansera Engineering Ltd. looks strong in its financial with increasing costumer base and order book domestic as well as globally.
Route Mobile looks strong among its peers. Post 35% correction in share price, Route Mobile currently trades at 26x FY24 EPS. Due to its strong revenue growth (both organic & inorganic), consistent track record of profitability, and high return on equity, we expect Route to achieve 35x FY24 EPS.
Equity Research: Polycab India Ltd.
Polycab looks fundamentally strong in the field of FMEG at 28x FY23E EPS for further upside potential from its CMP.
Equity Research: Intellect Design Arena
Intellect Design Arena look attractive and financially strong with increasing service revenue imparted by SaaS and leading partnership with Microsoft to jointly sell Intellect’s iGTB products.
Ceat Ltd. looks strong among its peer for further growth and increase in its CMP from its current level imparted by increasing EBITDA margin and PAT by FY24.
Cyient Ltd looks attractive at CMP for further upside potential of 38% by FY24 due to favourable global market sentiment and increasing order book.
Equity Research: Tata Metaliks Ltd
Tata Metaliks looks strong for further up move of 35 to 38% from its CMP with increasing EBITDA by CAGR of 28% and PAT by 39% by FY24.
Equity Research: Aether Industries Ltd.
Aether Industries Ltd. looks strong for an up move of more than 28% from its CMP with a CAGR growth of 42% by FY24.
Equity Research: Home First Finance Company
Home First Finance Company looks strong for an upmove of 18% from its CMP along with growth in CAGR and PAT by 25% and 16% by FY23.
Equity Research: Hindustan Foods Ltd.
Hindustan Foods at the CMP of Rs475 looks strong for further upside potential, the stock trades at 90x FY22 EPS, reflecting premium valuations driven by a high, 55%, profit CAGR over the last three years and lack of alternatives in the space.
Kotak Mahindra Bank looks strong to achieve high growth in ROE and Market Capitalisation by FY25.
We believe KTKM is positioned for an earnings upgrade cycle; estimate growth by 7%/13% for FY23E-FY25E on higher margins and lower loan-loss provisions. We expect Kotak Mahindra Bank to achieve market capitalisation of US$100Bn by FY25E.
Equity Research: Supriya Lifescience Ltd.
Supriya Lifescience Ltd. looks fundamentally strong for a good upside potential of 35% from its CMP of Rs.332
Equity Research: MTAR Technologies
MTAR technologies is a leading player in precision engineering industry with huge growth potential and looking attractive for an upside potential of 25% from its current market price.
Equity Research: FIEM Industries
Fiem is trading at a valuation of 14x 1-year forward P/E multiple after the recent steep rally. It has a good upside potential of 17% from its CMP.
Equity Research: Reliance Industry Ltd
RIL is among the few large companies in India with a positive earnings revision cycle ahead, given the strong refining and gas environment. RIL has a huge upside potential of 25% from its current market price.
Equity Research: Axis Bank Ltd
Axis Bank look strong for an upside potential of 30% from its current market price.
Equity Research: PB Fintech Ltd
PolicyBazaar has a good upside potential of 35% from its current price along with growing CAGR.
Equity Research: Valiant Organics
Considering the integrated business model, superior financial performance, healthy balance sheet with improving re- turn ratios, the company has good long-term growth prospects. We foresee 25.7% revenue CAGR, EBITDA expansion of 23.2% CAGR, and 29.5% growth in earnings over FY21-24E.
A strong player in the field of beverage industry - Varun Beverages Ltd
The improvement in return ratios over the past decade has settled the argument related to the nature of VBL’s business prevailing into pure manufacturing. EBITDA margins would remain stable (19-20%) but PAT margins have a huge scope to grow. Gains are expected on the back of rising out-of-home consumption after two years of sluggish performance. The stock has run up quite a lot, up 6 times since its IPO in December 2016. Over CY22- 24E, it is expected that the company will deliver Volume/Revenue/EBITDA/PAT CAGR of 19%/19%/18%/29%. We value the stock at P/E of 45x CY23E.
Equity Research: Jubilant Ingrevia Limited
Jubilant Ingrevia is attractively placed in terms of the cash profit of FY25E which gives an attractive reward potential at the CMP\r\n
Equity Research: CreditAccess Grameen Limited
CreditAccess Grameen Limited looks strong with growth in loan book at 23% along with stable operating expenses along with declining credit costs which should drive PAT growth of 66% over FY22-24E. Healthy growth in earnings should drive RoE to ~19% by FY24E.
Equity Research: Birlasoft Ltd
Birlasoft, a small-cap IT company, has an upside potential of 35%. The company’s repeated demonstration of ‘walking the talk’ makes us believe that it is on track to achieve its stated target of USD1bn revenue by FY25E.
Equity Research : Tata Consumer Products Limited
TCPL future ambitions remain aggressive, At 17% EPS CAGR over FY22-25e, TCPL should deliver industry-leading growth within indian FMCG.
Equity Research: Motherson Sumi Wiring India Limited (MSWIL)
Motherson Sumi Wiring India Limited (MSWIL) has good upside growth potential.
MSIL have good upside potential due to recent corrections in commodity prices and Fx.
Return of product lifecycle to drive market share, Recent corrections in commodity prices, Fx provide good upside opportunities to the MSIL estimates.\r\n
Nifty and Bank Nifty Tumbles Due to Weak Global Cues.
Nifty and Bank Nifty tumbles due to weak global cues lead by higher inflation data, higher crude oil prices and weakening currency.
