EarningsDecodedEditor India’s e-commerce expansion has quietly created one of the most competitive industries in the country — last-mile logistics. At the centre of this ecosystem sits Shadowfax, a company that has grown rapidly by powering deliveries and returns for e-commerce platforms, D2C brands and hyperlocal businesses. With the Shadowfax IPO now under investor scrutiny, the key … Read more
ITC’s share price corrected sharply in early January 2026, bringing its dividend yield above 4% and reviving investor interest in what has long been considered a defensive, income-generating stock. However, this correction was not random. It was triggered by a significant increase in excise duty on cigarettes, ITC’s most profitable business segment. This article examines … Read more
Larsen & Toubro (L&T) is often described as an infrastructure giant, but that description understates the scale and diversity of its business. From executing large infrastructure projects to manufacturing high-end equipment and providing technology services, L&T operates across multiple profit pools. This article breaks down how Larsen & Toubro makes money, where its revenues come … Read more
Hospital IPOs are back on the investor radar as India’s healthcare spending continues to rise.Gujarat Kidney & Super Speciality Limited (GKSSL) has filed its DRHP to raise funds through a public issue, positioning itself as a focused renal and multi-speciality care provider. This article decodes the IPO using only DRHP disclosures, focusing on business fundamentals, … Read more
Why VA Tech Wabag’s Valuation Depends on Order Book Strength VA Tech Wabag is a pure-play water technology company — designing and executing desalination plants, sewage treatment plants (STPs), industrial recycling (ZLD), and long-term O&M contracts. For EPC + O&M players, revenue visibility comes from the order book, not past revenue. For instance, order-book-driven infrastructure … Read more
What Triggered the Sharp Fall? — Operational Chaos Meets Regulatory Shock In the first week of December 2025, shares of InterGlobe Aviation (NSE: INDIGO) plunged about 8.8% in five trading sessions, sliding from roughly ₹5,883 to ₹5,367. The trigger: a perfect storm. Since November 1, new regulatory rules under DGCA (Flight Duty Time Limitations — … Read more
PTC Industries: High Growth, High Expectations PTC Industries has become one of the fastest-growing defense manufacturing companies in India, delivering high-precision castings for aerospace, defense, industrial gas turbines, and energy sectors. This surge in investor interest is driven by: But with the stock trading at ₹18,376/share (Dec 3, 2025) — the big question investors are … Read more
Introduction: Why HUL’s Business Model Matters in 2025 Hindustan Unilever Limited (HUL) is India’s largest FMCG company, touching nearly every consumer category—from detergents to teas, skin care to nutrition. Yet, the company’s true strength lies in its business model: scale, distribution, premiumisation, and consistent category leadership. This deep dive uses the FY25 Annual Report and … Read more
Asian Paints remains India’s benchmark company for home-improvement demand. Every quarter, investors closely watch the Asian Paints share price and its earnings commentary to understand whether decorative paints — one of India’s strongest FMCG-adjacent categories — is stabilising or still under pressure. Q2 FY26 was another quarter dominated by the same question: Is the demand … Read more
When investors examine high-performing mid-cap IT names, Persistent Systems often stands out. The reason is simple: the company has delivered years of strong growth, improving margins, and exceptional cash generation. But with the stock now trading at ₹6,353 (as on 28th November 2025) many investors are asking a fair question: Is Persistent Systems overvalued in … Read more