Arihant Jain

25, risk taker, deep fundamental equity research| I bet big on businesses I understand| BITS, CFA All levels, 7+yrs in markets|

[Arihant Jain @Arihant9316]

Found the titan of my investing life-Sky Gold. Cmp- ₹350

[Arihant Jain @Arihant9316]

@raealisa Jai shree ram

[Arihant Jain @Arihant9316]

If ltcg is removed, mtf books of all the brokers will increase meaningfully.

#ltcg #zerodha #AngelOne

[Arihant Jain @Arihant9316]

Today, Thangamayil Jewellery reported Q2 PAT of ₹59.4 crore vs ₹58.5 crore YoY.

Management attributed the muted performance to continued disruptions in remittances from the Middle East, citing the same issue last quarter.

Despite the weak earnings growth, Thangamayil commands a market cap similar to Sky Gold.

For perspective, Sky Gold reported Q2 PAT of ₹129 crore, more than 2x Thangamayil’s.

[Arihant Jain @Arihant9316]

Good times ahead . #PVRINOX

[CineHub @Its_CineHub]

#RamayanaReview ~ EPIC CINEMATIC MASTERPIECE whose competition is only MUGHAL E AZAM in the history of Indian Cinema!

Rating - ⭐️⭐️⭐️⭐️⭐️

NUMBED - SHOCKED and MY MIND IS BLOWN! Before I can even process this altogether, let’s SALUTE and BOW DOWN to #NiteshTiwari for giving us the BEST MOTION PICTURE OF INDIA in the last 60 Years of cinema. BOW DOWN, I REPEAT BOW DOWN to him 🙇‍♂️

#Ramayana is not just a MOVIE but an EXPERIENCE OF A LIFETIME whose BIGGEST STRENGTH is that for 3 straight hours, you will be so ENGROSSED in this WORLD that you will forget time, life and everything around you. There is EMOTION, ACTION PIECES SURPASSING EVEN HOLLYWOOD FILMS, DIALOGUES, OSCAR-WORTHY BGM and MAD MAD ACTING and SCREENPLAY.

Right from the STARTING SEQUENCE of #Yash, his CHILDHOOD and how he gets the POWERS from Brahma in Mrityukaal and what follows next, the starting CINEMATOGRAPHY IS THE BEST IN THE WORLD. #Yash’s character arc will blow your MIND! The innocence of #RanbirKapoor, his restrained ACTING RANGE; watch for an ACTING MASTERCLASS just before the INTERVAL. There’s a SCENE right before the INTERVAL between RAJA DASRATH, LORD RAMA and KAIKEYI in the room, and you guys are gonna CRY. The Vanvaas-going scene, the whole people showering their love, Raja Dashrath’s Love towards Ram and what happens in this INTERVAL SEQUENCE is for AGES. I CRIED CRIED LIKE A MAD MAN. WHAT HAVE YOU CREATED, NITESH? WHAT IS THIS? 🙏🏻

Right after the INTERVAL, there is a TORNADO SCENE in the film, the BIGGEST HIGHLIGHT of the FILM, sending shivers down your SPINE and giving you GOOSEBUMPS. The way RANBIR FIGHTS HERE, this FIGHT SEQUENCE IS BEYOND HISTORIC, beyond any HOLLYWOOD FILM. The Music here raises your HAIR. I WANT TO SALUTE HANS ZIMMER AND AR RAHMAN. Watch out for this SEQUENCE, telling you, watch out for this sequence.

The PRE-CLIMAX FIGHT between Raavan and Jatayu, and Jatayu’s death, will make ENTIRE INDIA CRY OVER IN THEATRES. Those doubting its EMOTIONAL IMPACT, this is an emotion you have NEVER seen in any film. MAIN APNI SITA KO WAPAS LAAUNGA DIALOGUE and CREDITS ROLL!! You will be SHOCKED and STUNNED: WHAT HOLY MOLY CINEMA HAVE YOU JUST SEEN? And if this was not enough, the POST-CREDIT SCENE HITS YOU LIKE A TSUNAMI. Watch it to believe it. GIANT, #SUNNYDEOL as HANUMAN Ji GONNA MAKE YOU GO MAD AND WILD💥

#RanbirKapoor has proved once again that there is no better actor than him in Indian cinema currently. He will be worshipped at homes, he will be garlanded, he will be the RAM for every generation from here on. #Yash as RAVANA gives his career-best performance. Some fight and elevation scenes have SURPASSED KGF BY 10X MILES. Screen Presence, Acting and Dialogues, he OVERSHADOWED EVERYONE…UNBELIEVABLE AURA! #SaiPallavi is good as per her role; we will see more of her in Part Two, though. Every other actor and character has delivered a career-best performance.

Music-wise, #ArRahman and #HansZimmer have given music that will make you feel ELATED, get GOOSEBUMPS, cry like hell; the BGM is gonna be the BEST BEST THING about Ramayana. Mark this, mark this. Those who doubted them will become their fans. Next, #NiteshTiwari is, from here on, the BEST & BIGGEST DIRECTOR of India. The command over screenplay, emotions, dialogues and editing… SALUTE YOU for this international-level direction! The SCALE, VFX, CGI and technology are on a level witnessed by only a few WORLD CINEMA films. So, for this, I WANT TO BOW DOWN TO NAMIT MALHOTRA for his VISION. Thanks for crafting this for Indians 🙏🏻

On the whole, #Ramayana is not just a MOVIE but a CINEMATIC TRIUMPH and an EXPERIENCE OF A LIFETIME that cannot be defined in normal words. You NEED to experience it on the BIGGEST SCREEN POSSIBLE. MARK MY WORDS: THIS FILM WILL NOT STOP FOR A STRAIGHT 2 MONTHS, YES, 2 MONTHS, and the BOX OFFICE WILL BEG FOR MERCY. RECORDS WILL BE ANNIHILATED AND CRUSHED LEFT, RIGHT AND CENTRE💥✅

SALUTE TO THE ENTIRE TEAM. INDIAN CINEMA WILL NEVER BE THE SAME AGAIN🙏🏻

[Arihant Jain @Arihant9316]

@LifeOfShandi are you a hater?

[Arihant Jain @Arihant9316]

"Sky Gold is the next Walmart?"

Not my comparison. This is the analogy drawn by Sky Gold's management themselves during the earnings call.

Management cited Walmart's 1973–1986 expansion journey, when the company consistently generated negative FCF while reinvesting in growth at high returns.

The parallel they see is India's ongoing shift from unorganised to organised jewellery manufacturing.

Their philosophy is to keep investing as long as every rupee deployed earns returns well above the cost of capital.

[Arihant Jain @Arihant9316]

Lfggg🚀

[Ashish Chanchlani @ashchanchlani]

Ramayana is a blockbuster of truly epic proportions, delivering some of the absolute best action set pieces Indian cinema has ever seen. But beyond the breathtaking visual spectacle, the film's biggest strength is Nitesh Tiwari's astute direction. This is entirely his ship, and he sails it with supreme control.
The casting is perfection:
Ranbir, Sai, and Yash all hit it completely out of the park.
A special shoutout to Ravi Dubey-he absolutely smashes it as Laxman.
Surprisingly the film has some wholesome humorous scenes that include him
While there are minor technical hiccups along the way (a few de-aging shots in night sequences feel slightly off) but the film is edited so tightly that you barely notice. Every single risk taken by DNEG and Namit Malhotra has paid off magnificently, with each action sequence outdoing the last. Nothing is going to stop this film from becoming a historic blockbuster.
My only advice is PLEASE WATCH ON THE BIGGEST SCREEN POSSIBLE
Do not judge this by cheap leaks or resort to piracy-this is made for the big screen.
I was sobbing in the end after the Jatayu fight scene

[Arihant Jain @Arihant9316]

@VishalBhargava5 Peak over analysis and confirmation bias.

[Arihant Jain @Arihant9316]

Read my substack on PVRINOX stock https://t.co/r88yJLUYmz - @VishekC

[Arihant Jain @Arihant9316]

Guess which stock is not prone to any of these risks?

Ans- PVRINOX

[Samir Arora @Iamsamirarora]

It is a tough game.

[Arihant Jain @Arihant9316]

Today, on 1st Nov, #PVRINOX is ranked 26th as per the 6 month momentum returns in NSE500.

Lets see how soon it can enter the top 10 list.

[Arihant Jain @Arihant9316]

Management commentary on its acquisition strategy.

The company focuses on acquiring teams, expertise, designs and customer relationships, rather than simply acquiring businesses.

Star Mangalsutra & Rishabh Gold: The synergies are interesting. Sky Gold had its casting capabilities, design library and wider customer network, while the acquired businesses brought specialised mangalsutra manufacturing expertise and established retailer relationships. Monthly volumes scaled from 20–25 kg to 150 kg, with one large jewellery conglomerate alone sourcing 70–80 kg.

Purvi Gems: Added capabilities in the high-margin uncut diamond jewellery segment, backed by an experienced management team with nearly two decades of industry expertise.

Each acquisition adds a new product category while leveraging Sky Gold's existing ecosystem and helps them become a one stop solution for all jewellery requirements.

[Arihant Jain @Arihant9316]

@Aman81407075 commentary is a quite re-assuring. Hope the street takes in the same way

[Arihant Jain @Arihant9316]

Attending the Skygold concall live.

The management commentary seems very solid and has covered all aspects. The opening remarks by Darshan Chauhan itself lasted for more than 35 mins.

It honestly made me remember why i was soo bullish on the stock and why it became such a big part of my portfolio.

[Arihant Jain @Arihant9316]

Management highlighted 4 points why leading retailers choose them over other manufacturers:

1. Speed of execution: Complex jewellery delivered in under 30 days, with strict quality control.

2. One-stop sourcing: Gold, diamonds, chains, bangles and uncut jewellery, all from one partner.

3. Technology-led manufacturing: 40 3D printing machines help make jewellery 20–30% lighter and reduce gold loss from 1.5% to 0.5%.

4. Design-led co-creation: A 180-member design team works closely with retailers. Value-added products now contribute over 50% of revenue.

#skygold

[Arihant Jain @Arihant9316]

It was quite an opening to the earnings call

#skygold

[Arihant Jain @Arihant9316]

The management did not take alot of questions as most of the time was taken up the commentary itself.

Mangesh chauhan clarified that they earlier were not planning to do the concall as the sebi regulations restrict them from commenting on any future guidance.

However, he wanted to maintain transparency with shareholders and provide clarity on the company’s developments.

#Skygold

[Arihant Jain @Arihant9316]

Have you ever wondered why jewellery giants like Titan and Kalyan rely heavily on external manufacturers rather than manufacturing most of their jewellery themselves?

A big reason is India’s incredibly diverse consumer base.

Jewellery preferences across North, South and West differ vastly, shaped by regional traditions, designs and price points. Specialised manufacturers are better equipped to cater to this diversity.

Retailers like Titan and Kalyan majorly focus on distribution, branding and customer experience rather than building manufacturing capabilities themselfs.

Interestingly, the retail business itself has moved towards asset-light model, with stores being operated under FOCO structures, where retailers don’t even own the underlying stores.

This is precisely where specialised jewellery manufacturers fit into the value chain: providing diversity, flexibility and manufacturing expertise that large retailers need, while helping them maintain an asset-light business model.

[Arihant Jain @Arihant9316]

What woud it mean for #PVRINOX if Ramayana does 2000cr of net box office in India.

Ticket Revenue- 700crs (Assuming 35% box office share for PVR)

F&B , Advertising Revenue- 600crs

Total Contribution after COGS: 800-900crs

That's equivalent to total fixed costs of PVR for the entire quarter.

With strong lineup- Drishyam3, King, Ramayana, Avengers Doomsday, Dune3 etc, Q3FY27 could be a potential re-rating trigger for PVRINOX.

#RamayanaPart1 #RamayanaMovie

Read this article to understand the breakup in depth -https://t.co/GCcv0ecv5K

[Arihant Jain @Arihant9316]

India’s box office crossed ₹4,000 crore in a single quarter for the first time in history, clocking ₹4,440 crore in Q2 FY27.

This led PVR INOX to also report its best-ever numbers, with ₹2,133 crore in revenue and ₹475 crore in EBITDA.

On a YoY basis, PVR's Revenue grew 17%, while EBITDA surged 44%.

That’s the operating leverage of the cinema business. As the content lineup gets stronger, revenue grows, while profits grow much faster because a large part of the fixed cost is already in place.

If you are curious about how mathematics of a box office hit works out for PVRINOX, read this substack article- https://t.co/GCcv0ecv5K