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 11 · filtered from 100Clear filters
  1. 001Take-home stock pitch with a model test: Brassvale Engineering has an order book of 2.4 years of revenue, 140 days of working capital and a 13% EBITDA margin. Build three years of EPS and cash flow and decide whether the order book converts to cash.Stock pitchHardBalyasny Asset ManagementNew York · 2026
  2. 010Coravi Auto Parts sells 45% of its output to the US, and a 25% tariff is imposed. Customers absorb 40% of it. What happens to volumes and EBITDA, and how would you defend your view under challenge?Macro and commodity sensitivityHardFranklin TempletonSan Mateo · 2024
  3. 012Merger arbitrage: Kaldrin Power Systems offers Rs 450 cash for Pravena Cables, which trades at Rs 420, with closing expected in six months and a fall-back price of Rs 330 if the deal breaks. What probability is priced in, and is the spread worth it if you think 85%?Buy-side portfolio judgementHardAQR Capital ManagementGreenwich · 2021
  4. 026One-week take-home: pitch Ashvik Logistics, an asset-light contract logistics company. Give three thesis pillars and cross-check value with a DCF and a peer multiple.Stock pitchHardWellington ManagementBoston · 2024
  5. 051You pitched Kelvora Chemicals as a long. The portfolio manager grills you on Chinese prices, the new plant's utilisation and one customer at 40% of sales. Defend or concede each point with numbers, and say what would change your view.Stock pitchHardWellington ManagementBoston · 2019
  6. 053Design a model to forecast three years of rental income for Stavrina Office REIT, whose in-place rents sit below market. Build it and name the drivers you would test.Forecasting and modellingHardTwo SigmaNew York · 2025
  7. 054DCF modelling assessment: take Trivanza Industrial Gases from revenue, margins, capex and working capital to a value per share, showing every step from enterprise value to equity.DCF and intrinsic valueHardJefferiesNew York · 2026
  8. 055The street values Velmora Refining at 6x FY27 EBITDA built on a peak refining margin. You normalise the margin to mid-cycle. Defend your variant view of the multiple.Relative valuationHardFranklin TempletonSan Mateo · 2024
  9. 062Hedge a Rs 50 crore long in Ornavi Specialty Tubes, which has no close listed peer. Given its betas to the market and to a capital goods basket, size the hedge and say what risk is left.Buy-side portfolio judgementHardBalyasny Asset ManagementNew York · 2026
  10. 076Your case competition pitch went long a retailer at Rs 400. A year later it trades at Rs 280 on lower earnings. Split the fall into the earnings miss and the de-rating, and say what you would do now.Stock pitchHardPoint72New York · 2026

Company names and figures are illustrative.