Equity research · Small and mid caps · India
Written research on small and mid cap companies listed in India. Every report shows the numbers it is built on and where they came from.
01 · What you get
Each report shows the statement it came from and the year it covers. Where a number is computed rather than reported, the arithmetic is on the page next to it.
02 · What you get
The spreadsheet behind each report, with live formulas rather than pasted values, so you can change an assumption and watch it move.
03 · What you get
Every report carries the bear case written as seriously as the bull case. If the numbers do not support a view, the report says so.
Latest research
Twelve years of a pure-play aluminium extruder, every line expandable to its components. Profit compounding at 40% over five years, while FY2026 operating cash flow fell to ₹4 Cr on a ₹28 Cr working capital build.
Twelve years of Screener data with every line item expandable, plus the cash flow question that FY2026 raises. Revenue grew; operating cash flow went negative.
Live reference
GIFT Nifty trades around 21 hours a day on NSE International Exchange, so it carries the overnight move that the Indian cash market has not opened to price in yet. The page shows the last traded level, the day range, and how far it sits above or below Nifty spot.
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