AIAE’s technological leadership in high chrome mill internals, strong growth opportunity in mining sector and superior financial metrics are key business moats

APNT’s Q1FY23 print was in‐line with our estimates. Consolidated revenue/EBITDA/PAT grew 54.1%/70.3%/85.9% driven by robust volume growth of 37% in domestic decorative segment (4‐year CAGR value and volume 20% each). The management alluded the growth was fueled by (1) faster growth in T1/T2 markets, (2) project/institutional business, (3) premium luxury emulsions, and (4) increase in […]

Trent, one of the most successful retailers in India, has built durable moats by significantly scaling up its retail footprint, establishing itself as a powerful design house and expanding under different retail formats. T

Growth momentum accelerates; reiterate BUY

Solid performance; reiterate BUY

Favourable change in product mix leads to revenue beat

Re-orienting to fundamentals

Strong earnings growth trajectory, improving cash flows to drive valuations

Fluorinating the way ahead

Good financials, but recovery in demand delayed