Equity Research case studies, worked step by step

Cases
100
Traced to a firm
30
Topics
12
Hard
30
Topic
All topicsStock pitch15Earnings and results9Forecasting and modelling10DCF and intrinsic value9Relative valuation7Financials6Sector economics9Forensic accounting9Industry structure and moats7Macro and commodity sensitivity7Capital allocation and corporate actions7Buy-side portfolio judgement5
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–10 of 20 · filtered from 100Clear filters
  1. 019Ochrelle Chemicals reports pre-tax profit of Rs 300 crore, of which Rs 90 crore is other income from gains on its treasury portfolio. What are core earnings, and what should each part of the profit be worth?Forensic accountingWarm upSell-side equity researchIndian brokerage research
  2. 021Hemvara Utilities pays out 90% of its profit as dividends while free cash flow is only 70% of profit. How is the gap funded, and is the dividend safe?Capital allocation and corporate actionsWarm upLong-only asset managementIndian brokerage research
  3. 023Veltrona Textiles grows revenue from Rs 2,000 crore to Rs 2,400 crore with debtor days of 70, inventory days of 90 and payable days of 60. How much extra working capital does the growth need?Forecasting and modellingWarm upSell-side equity researchResearch KPO and GCC
  4. 024Sudhira Home Care raises prices 6%, volumes fall 2%, and gross margin moves from 45% to about 48%. What are revenue growth and gross profit growth?Sector economicsWarm upSell-side equity researchIndian brokerage research
  5. 025Pitch Mirelia Foods, a packaged snacks maker with revenue of Rs 1,500 crore growing 11%, a 16% EBITDA margin and a P/E of 38x. Then answer the three follow-ups: why now, what is priced in, and what would make you wrong.Stock pitchWarm upPoint72central · 2025
  6. 039Twenty-minute investing case with rapid-fire questions: Sarvaka Consumer's revenue grew 9% against 12% expected, the EBITDA margin beat, EPS beat by 3% on other income, and the stock fell 4%. Answer six quick questions crisply.Earnings and resultsWarm upFidelity InvestmentsToronto · 2024
  7. 042Palvora Consumer trades at 45x earnings against its ten-year average of 38x and a range of 30x to 50x, while EPS growth is accelerating from 10% to 15%. Is it expensive?Relative valuationWarm upLong-only asset managementSell-side equity research
  8. 045Clarvin Auto Glass supplies 70% of the windshields for three car makers who together buy 90% of its output. Who holds the pricing power, and what does that mean for Clarvin's margins?Industry structure and moatsWarm upSell-side equity researchIndian brokerage research
  9. 046Rainfall is 10% below normal. Kheta Agri Inputs' volumes historically fall 0.6% for each 1% rainfall shortfall. With a 12% EBITDA margin and 40% of costs fixed, what happens to volumes and profit?Macro and commodity sensitivityWarm upSell-side equity researchIndian brokerage research
  10. 050Present a short stock pitch on Nerolia Jewellers: stores rising from 40 to 60, same-store sales growth of 8%, gold price moves passed through, inventory funded partly by gold loans. One paragraph of thesis and one risk.Stock pitchWarm upAmundiBotson · 2022

Company names and figures are illustrative.