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 31–40 of 70 · filtered from 100Clear filters
  1. 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
  2. 047Pallanza Hospitals raises Rs 1,000 crore through a placement at a 5% discount, adding about 8.8% to its share count, to build three hospitals that break even in year three. When does the deal start adding to EPS?Capital allocation and corporate actionsCoreSell-side equity researchIndian brokerage research
  3. 049Two-hour written test: build a first view on an unfamiliar industry from a data pack on Kestrova Cold Chain. Industry capacity is 40 million tonnes growing 12%, Kestrova's share is 3% and its utilisation 65%. Write five questions you would ask and a first forecast.Forecasting and modellingCoreResearch KPO and GCCBuy-side equity research
  4. 052Build a quarterly results preview for Tavirant Cement from volume, realisation and cost per tonne. What EBITDA do you expect, and which line is consensus most likely wrong on?Earnings and resultsCoreSell-side equity researchIndian brokerage research
  5. 056Kshemora Life Insurance trades at 2.5x embedded value. Given its value of new business and margin, what is the market paying for business it has not yet written?FinancialsHardSell-side equity researchIndian brokerage research
  6. 057Forecast three years of US generics revenue for Kalpora Pharma, whose base erodes every year, which launches new products, and which has one limited-competition launch that falls away in year two.Sector economicsCoreSell-side equity researchResearch KPO and GCC
  7. 058Trevika Apparel's inventory days rose from 110 to 160 while its gross margin rose from 38% to 42%. How can building stock lift the margin, and what does it mean for next year?Forensic accountingHardHedge fund long/shortSell-side equity research
  8. 059Mandivar Marketplace, a B2B marketplace, raises its take rate from 2% to 3.5% and supplier churn rises from 5% to 8%. Does the network hold, and what is the revenue effect?Industry structure and moatsCoreHedge fund long/shortBuy-side equity research
  9. 060Crude falls from USD 90 to USD 60 a barrel. Fuel is 38% of Skyvela Airlines' costs and the rupee is flat. What happens to costs and EBITDAR if fares hold, and if half the saving goes into fares?Macro and commodity sensitivityCoreSell-side equity researchHedge fund long/short
  10. 061Aurevik Foods buys Zestora Naturals, a direct to consumer brand, for 6x sales. Zestora's operating profit is small but growing 30% a year. How many years until the deal earns Aurevik's 12% cost of capital?Capital allocation and corporate actionsHardBuy-side equity researchHedge fund long/short

Company names and figures are illustrative.