#ROE

In FY25, the ROE stood at 11.1%. Net worth rose pertaining to the QIP. Net worth of the company increased on account of rise in retained earnings. Higher capex & working capital requirements with tepid growth has led to dent on return ratio, which is envisaged to improve going forward. In Q3 FY25, it issued 1.25 cr equity shares through a Qualified Institutional Placement (QIP) at ₹1,320/share (including a securities premium of ₹1,318/share), raising ₹1,650 cr. Out of the total proceeds, ~₹1,100 cr was utilised during the period towards repayment of certain borrowings, general corporate purposes, and expenses related to the QIP issue. The unutilised amount of ₹550 cr has been parked in fixed deposits with banks.

#Company #POTENTIAL

• The global automotive industry saw modest expansion in CY25. According to S&P Global Mobility estimates, global light vehicle sales reached 8.82 crore units, marking a 1.7% increase over CY24, supported by continued inventory restocking as supply chains stabilized. The European automotive market recorded the slowest growth among major regions, increasing by just 0.9%, with the EU specifically growing by 0.8%. Western Europe is expected to maintain this subdued momentum in CY25, with a projected growth of 1%. • The United States auto market registered a 2.2% increase in light vehicle sales in CY24, reaching 1.59 crore units. However, growth in CY25 is projected to moderate to 1.5%, amid policy uncertainties under the new administration. Although interest rates are expected to ease slightly, high vehicle prices and evolving trade policies-particularly concerning tariffs-may weigh on overall sales. In China, light-duty vehicle production stood at 3.13 crore units and sales at 3.14 crore units in CY24, reflecting YoY growth of 3.7% and 4.5%, respectively. The market continues to be supported by government incentives, competitive pricing of locally manufactured electric vehicles, and strong momentum in new energy vehicle (NEV) adoption. • The global automotive forging market is estimated to be valued at $48.3 billion in 2023 and is projected to reach $74.29 billion by 2032, growing at a CAGR of 4.9%. For CY24 specifically, the market is expected to be valued at ~$50.67 billion. The market is witnessing steady growth driven by rising demand for forged components such as engine parts, transmission gears, and chassis elements

#COMPANY #OUTLOOK

• The U.S. commercial vehicle market in 2024 remained largely stable, with total new registrations for GVW 1-8 vehicles holding steady at 2.8 million-unchanged from 2023. However, this figure was still 2,00,000 units below pre-pandemic levels seen in 2019. Notable market shifts included a decline in diesel and internal combustion engine (ICE) vehicles, alongside a marked increase in hybrid and electric vehicle adoption. (Source: S&P Global) • In 2024, the U.S. commercial vehicle, Class 8 registrations declined by 11%, totalling 2,31,000 units, while Class 4 and 5 registrations rose by 7% and 9%, respectively. Government fleet registrations showed strong momentum, up 20% YoY. Cargo van registrations declined by 2% from 2023. Similarly, tractor truck registrations fell 18% YoY. The shift away from internal combustion engine (ICE) and diesel vehicles continued, with ICE commercial vehicle registrations down 7% since 2019-mainly driven by declines in pickups and cargo vans—impacting the lease rental segment. Diesel vehicle registrations also dropped 2%, affecting both tractor and straight trucks. (Source: S&P Global) • In FY25, India’s defence exports reached a record ₹23,622 cr. The Ministry of Defence signed 193 contracts worth over ₹2,09,050 crore, with 177 contracts (92%) awarded to domestic industry. More than 14,000 items have been indigenised under the SRIJAN initiative, along with 3,000 items under the Positive Indigenisation Lists. India is targeting ₹3 lakh cr in defence production and ₹50,000 cr in exports by 2029. India now exports defence equipment to over 100 countries, with the USA, France, and Armenia emerging as the top buyers. (Source: PIB) • Currently, 65% of defence equipment is manufactured domestically-a significant turnaround from the earlier 65%–70% import dependency-reflecting India’s growing self-reliance in the defence sector.

Bharat forge 1000-1120
Expected level 1400
Support 850

6180🔥🔥Long term level hit 😍

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172⚡️⚡️

3330⚡️Long term level hit 😍

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🔹15 Auto & Auto Ancillary Stocks That Turned into 10X+ Multibaggers in the Last 5 Years

✴️HBL Engineering +5182%
✴️NDR Auto +2713%
✴️Olectra Greentech +2145%
✴️Automotive Stampings +2070%
✴️Jupiter Wagons +1910%
✴️Titagarh Rail Systems +1810%
✴️Force Motors +1454%
✴️Banco Products +1321%
✴️JBM Auto +1278%
✴️Talbros Automotive +1161%
✴️Ramkrishna Forgings +1143%
✴️Lumax Auto +1123%
✴️Gabriel +1082%
✴️Pricol +1035%
✴️Sharda Motors +1012%

Transformer Sector Stocks

New Theme Emerging After the Bull Run in Railways & Defence Stocks!

With the strong rally in railway and defence sectors largely fueled by government initiatives, smart money is now eyeing Power Transmission as the next big opportunity.

Here’s why:

Example: Solar power is being generated in Rajasthan, and wind energy is thriving in Gujarat. But how does this clean energy reach far-off states and industries? The answer lies in Power Transmission — the backbone of India’s energy infrastructure.

Recognizing its importance, the Government of India is set to invest ₹9 lakh crore in this sector between 2022 and 2032:

₹4.25 lakh crore to be spent till 2027

₹4.75 lakh crore planned for 2027–2032

The investment will be distributed across:

Transmission Lines (35%) — towers, cables, etc.

Substations (35%) — transformers and equipment

HVDC Lines (20%) — for long distance, high-efficiency transmission

This massive push is already translating into a surge in order books and revenues for companies operating in this space. The theme is gaining traction, and smart investors are taking note.

Key listed players in this space include:

✅Siemens

✅Hitachi Energy

✅GE Vernova

✅Transrail Lighting

✅TRIL (Transformers and Rectifiers India Ltd) etc.

✅ Sterlite electric - unlisted

Keep an eye on this space — Power Transmission could be the next major theme driving market returns!

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1232⚡️⚡️

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2435💥Long term level hit 😍

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1580💥Long term level hit

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🏥 India’s Largest Hospital Chains (by No. of Beds)

Healthcare capacity = Competitive moat + Operating leverage.
More beds = higher scalability, bargaining power, and network effects.

📊 Top Players:
1️⃣ Apollo Hospitals – 10,209 beds
2️⃣ Narayana Health – 6,100 beds
3️⃣ Max Healthcare – 5,000 beds
4️⃣ Aster DM – 5,000 beds
5️⃣ KIMS – 4,900 beds
6️⃣ Fortis – 4,600 beds
7️⃣ Shalby – 2,062 beds
8️⃣ Healthcare Global Enterprises (HCG) – 1,980 beds
9️⃣ Rainbow Childrens Medicare – 1,935 beds
🔟 Yatharth Hospital – 1,605 beds

2434💥💥Long term level hit

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