Our latest report under India Independent Insights (Iii) PB Fintech : Premium Promises, Discounted Truths

Our reported quoted in ET Prime m.economictimes.com/prime/corporat…

Local business owners in Srinagar, Kashmir are hopeful for easing tensions by May 10 amidst the ongoing conflict between India and Pakistan. skr.ma/EUQa4

Sometimes local people knows more than national media or anything else I don’t know….but surprised with the precision. #ongroundresearch #chennalchecks by my partner Pranav Bhavsar

Eureka Forbes boasts 250 bps EBITDA margin expansion driven by service cost cuts (-160 bps from 13.8% to 12.2% of sales). The reality: unresponsive service engineers, franchisees who deny company connection, worthless Gold AMC programs, and dysfunctional customer support. Classic

Exploring Vietnam's potential for growth and investment opportunities, despite challenges in capital markets and institutional participation. Tracking IPOs, MSCI inclusion, and policy reforms. skr.ma/mkV2K

#InBetweenZ #32 - Jyoti Resins (JRA IN): Asset-Light Balance Sheet or A high need for capex? #ReadBetweentheLines

Our latest Iii report on Shakti Pumps Ltd : Pumping ‘Out’ Fortune

#InBetweenZ #33 - Balu Forge (BALUGORG IN): Discrepancy between tax paid and tax expenses? #ReadBetweentheLines

Kalyan Jewelers after previously guided for an INR 350-400 cr debt reduction, the company now has outlined a INR 2,700 cr capital consumption plan. New capital for the 'leaner credit' initiative is expected to be INR 1,500 to INR 2,000 cr; the debt reduction is also "Paused".

Kalyan Jewellers pauses debt reduction, plans significant capital consumption without clear justification. Stock trades at high P/E despite questionable capital allocation. skr.ma/hRIUQ

SecuritiesandExchangeBoardofIndia came out with regulation that all the intermediaries should be compliant with accessibility of digital platforms for permanently disabled persons and has to appoint IAAP certified auditors. Fact of the matter is IAAP is an international organisation and has only

India ETF: 7.7% CAGR (10Y, USD) Global ETFs (USD, via Koyfin): 🌐 World 11.8% 🇺🇸 S&P500 14.5% 💻 Nasdaq100 19.4% 🐸 Staying in the well costs returns. Diversification is the way out.

India-China relations have seen a notable improvement, but India still struggles with trade deficit and dependence on Chinese imports, giving Chinese companies an upper hand. skr.ma/1ZzMt

Pranav Bhavsar If you found this useful: ∙ Pls 💚 or 🔁 ∙ Follow us for updates 🙏 Smartkarma subs can continue reading: smartkarma.com/insights/a-tra… 6x

Mahindra & Mahindra pre-announces GST benefits, but concerns arise over heavy discounting and margin risks ahead of GST 2.0 and festive season. skr.ma/he6Wl

Vinfast (VFS US) faces severe financial distress, negative gross margins, a liquidity crisis, and operational risks, yet is pursuing a high-risk expansion into India. skr.ma/jXNXZ

Our latest Iii report : Delhivery Ltd: Delivering A Dodgy Maze

#InBetweenZ #34 - Zaggle Prepaid Ocean (ZAGGLE IN): Propel take rate falling off the cliff post IPO? #ReadBetweentheLines