Fundamental Research
Long-term wealth is built by owning great businesses at the right price.
What is Fundamental Research?
Fundamental Research reads the balance sheet, not the chart — analysing a company's financial health, business model, competitive moat, and management quality to determine its intrinsic worth. The output is a considered view: a price target, a rating, and a clearly stated reason to own or avoid a stock over a 12-month horizon. We cover equities across sectors and market caps, produced by analysts who are SEBI-registered and regulation-compliant.
What Fundamental Research Contains
Every report is built around five analytical pillars — so the basis for every recommendation is visible and verifiable.
Company-level financial modelling — income statement, balance sheet, and cash flow analysis
Valuation across multiple frameworks — DCF, P/E, EV/EBITDA, and peer comparisons
Management quality assessment, governance flags, and promoter track record
12-month price targets with Buy / Neutral / Sell ratings and stated risk factors
Sector positioning — how each company fits within the broader industry landscape
Fundamental Research Reports all in One Place
Six report formats covering every phase of the investment decision — from first look to earnings season to annual conviction calls.
Initiating Coverage Reports
30–40 page deep dives into companies we initiate coverage on — business model, competitive moat, management quality, financial analysis, valuation (DCF + P/E + EV/EBITDA), and 12-month price target with Buy/Neutral/Sell rating.
Quarterly Earnings Updates
Within 24 hours of every Q1/Q2/Q3/Q4 result announcement for our coverage universe — revenue, EBITDA, PAT vs. estimates, management commentary synthesis, and immediate target price revision if warranted.
Sector Reports
Comprehensive sector-level analysis — regulatory landscape, demand drivers, margin dynamics, competitive intensity, and stock picks across large-cap and mid-cap companies in the sector.
Annual Conviction Picks
Our highest-conviction portfolio of 10–12 stocks published at the start of each calendar year — companies with durable moats, strong balance sheets, and compelling 2–3 year growth visibility.
IPO Research Notes
Independent evaluation of every mainboard IPO — business quality assessment, valuation relative to listed peers, promoter background, GMP interpretation, and clear Subscribe/Neutral/Avoid recommendation.
Macro & Economy Views
Quarterly macroeconomic outlook — RBI policy impact, GDP growth trajectory, inflation trends, FII/DII flows, and implications for equity portfolio positioning by market capitalisation segment.
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Frequently Asked Questions
What is fundamental research?
Fundamental research analyses a company's financial health, business model, management quality, and competitive positioning to determine its intrinsic value. Our SEBI-registered analysts (INH200009624) produce reports that help investors make evidence-based decisions rather than market-noise-driven ones.
How are companies selected for coverage?
We prioritise companies with strong earnings visibility, institutional interest, and relevance to our clients' portfolios. Coverage spans large-cap, mid-cap, and select small-cap names across sectors including financials, IT, FMCG, pharma, and industrials.
How quickly are earnings updates published?
Quarterly earnings updates are published within 24 hours of a result announcement for every company in our coverage universe — including revised price targets if warranted by the numbers.
How do I access the full research reports?
Full reports are available to clients with an active Shriram demat or trading account. Opening an account is free, fully digital, and takes under 10 minutes. Report summaries are publicly visible.
Are IPO recommendations independent?
Yes. Our IPO research is produced independently by our SEBI-registered research analysts. We evaluate business quality, promoter background, valuation vs. listed peers, and GMP — and issue a clear Subscribe, Neutral, or Avoid call.
What is an initiating coverage report?
An initiating coverage report is a comprehensive first-look at a company we begin formally tracking — typically 30–40 pages covering the business model, financial history, management quality, valuation, and a 12-month price target.
Want Expert Guidance?
Book a free 15-minute call with one of our SEBI-registered fundamental analysts. We'll walk you through our methodology, explain a live coverage report, and help you evaluate stocks with conviction.
Invest with the Conviction of Expert Research
Open a free Demat account and get access to initiating coverage reports, earnings updates, IPO notes, and annual conviction picks — all from SEBI-registered analysts.