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 1–4 of 4 · filtered from 100Clear filters
  1. 008Nerevo Agrochem books 45% of its annual revenue in the fourth quarter against 30% historically, and year-end receivable days jump from 90 to 150. Estimate how much revenue may have been pulled forward.Forensic accountingCoreSell-side equity researchHedge fund long/short
  2. 044Kesarvan Industries buys Rs 500 crore of raw material a year from a promoter-owned supplier at 12% above market. How much margin leaks, and what does it do to fair value at 20x earnings?Forensic accountingCoreSell-side equity researchResearch KPO and GCC
  3. 070Tanmora Textiles' promoter owns 60% and has pledged 70% of that stake. The lender makes a margin call if the share falls 30%. What is the risk to minority shareholders?Forensic accountingCoreHedge fund long/shortSell-side equity research
  4. 094A pharma company carries contingent liabilities of Rs 1,200 crore against net worth of Rs 2,000 crore, mainly tax disputes, and has just changed auditor. How would you size the risk in value per share?Forensic accountingCoreSell-side equity researchHedge fund long/short

Company names and figures are illustrative.