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 11–20 of 30 · filtered from 100Clear filters
  1. 036How would you IPO a school? Vidhyora Schools has EBITDA of Rs 150 crore and net debt of Rs 200 crore; at 20x EV/EBITDA it raises Rs 600 crore of new money and the promoter sells Rs 400 crore. Work out the post-money value, the dilution and the free float.Capital allocation and corporate actionsCoreWellington ManagementBoston · 2024
  2. 037Advise a long-only manager on building an ESG thesis on Hiravati Textiles: high water use, two effluent fines in three years, and export customers asking for audited data. What changes in the cash flows and the cost of capital?Buy-side portfolio judgementCoreNeuberger BermanNew York · 2025
  3. 038TMT stock pitch: Orvanta Cloud, an Indian software-as-a-service company with ARR of Rs 800 crore growing 30% and net revenue retention of 115%, trades at 9x EV/ARR against peers at 7x. Pitch it and name the two metrics that justify or break the premium.Stock pitchCoreMillennium ManagementNew York · 2023
  4. 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
  5. 040Use app and social media data to forecast Sanvora Beauty's quarterly sales. Downloads are up 25% and brand mentions up 40%; your estimate is Rs 410 crore against a street estimate of Rs 450 crore. How confident are you?Forecasting and modellingCoreTwo SigmaNew York · 2024
  6. 048Energy stock pitch: Ujjanta Gas Distribution, a city gas distributor with volumes growing 9%, a margin of Rs 7 per standard cubic metre and 30% of its gas bought at spot prices. Pitch it and handle the gas cost pass-through question.Stock pitchCoreFranklin TempletonSan Mateo · 2024
  7. 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
  8. 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
  9. 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
  10. 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

Company names and figures are illustrative.