AJ

Trend follower | love charts and funda analysis | this is public trade journal shared for feedback and learning purpose ONLY. Not recommendations to buy or sell

[AJ @ajtradejournal]

@InvesysCapital In kerala they asked everyone to check if name was there. N they even reminded us to check. i remember checking it.

[AJ @ajtradejournal]

@piyushchaudhry What a call😍 that was time fund managers were bringing chappals for investors meet🤩. Btw around that time I guess u posted sbi, airtel. Still holding 3x n counting.

[AJ @ajtradejournal]

@analystmohalla This is yesterday's sir

[AJ @ajtradejournal]

AARTI industries - was once poster boy.. whats ahead?

[AJ @ajtradejournal]

GAIL

[AJ @ajtradejournal]

upl

[AJ @ajtradejournal]

Indiamart is want to be free bird n move.. which way it want to move :)

[AJ @ajtradejournal]

@punitbansal14 Sir any idea which molecule is discussed here? when i checked I could only find Decnupaz which usfda approved after phase 1/ 2, its ultrarare in nature.

[AJ @ajtradejournal]

@InvesysCapital @jasveer10 @durov Telegrams is for stock tips😂

[Intrinsic Compounding @soicfinance]

The Indian battery chemicals value chain, and the FEOC bet sitting underneath it 🔋

First, the cost breakdown of a li-ion cell (BOM):

Cathode: 30 to 40% of cell cost, the most expensive piece. This is where the LFP vs NMC fight plays out.

Anode: 10 to 15%, mostly graphite today, with silicon slowly creeping in.

Electrolyte: only 6 to 10% of cell value, but the part everyone underrates.

The rest: separator, copper and aluminium foils, binders, conductive carbon and casing.

The electrolyte itself has three layers:

Solvents (organic carbonates): the bulk of the volume.

Lithium salt (mainly LiPF6, with LiFSI as the premium option): the hardest piece to actually manufacture.

Additives (VC, FEC and others): a tiny fraction of volume, but punch way above their weight on cycle life, safety and margin.

Now the players, mapped to where they sit:

Cathode and anode: Himadri (HSCL) on LFP cathode plus silicon anode via its Sicona stake, and Epsilon Carbon on synthetic graphite and carbon black.

Iron phosphate (the LFP precursor): Sudeep Pharma.

Formulated electrolyte: Gujarat Fluorochemicals and Neogen Ionics.

Electrolyte salt (LiPF6): Neogen via the Morita JV, and GFL.

Electrolyte additives: Acutaas (the old Ami Organics), the first additive maker outside China.

-Now the actual bet these cos are making is on FEOC which stands for Foreign Entity of Concern, a US rule that decides whether an EV qualifies for the clean-vehicle tax credit.

-Battery components from a covered nation were banned from 2024, processed critical minerals from 2025. The covered list is China, Russia, North Korea and Iran, but in reality this is about China.

-Electrolyte salts, additives and anode graphite got a temporary pass because they're hard to trace, but that exemption runs out at the end of 2026.

-From 2027, supply chains have to move to non-FEOC suppliers, and international customers are already shifting through this year to get ahead of it. China still dominates LiPF6 and electrolyte, so this is a real scramble.

Essentially, it's a regulatory arbitrage. Otherwise, these chemicals are over supplied in the world from China. Lets see what happens to their margins as the capacities start commissioning from FY27 end to FY28.

[AJ @ajtradejournal]

@TrendonomicsHD Thank you❤ got in & 6x for me

[AJ @ajtradejournal]

@punitbansal14 i think miqnaf, n zaynich hype is pushing emrok as well. few qtrs back concern was wockhardt failing to push emrok?

[AJ @ajtradejournal]

@ShivrattanDhil1 ev charging station owner had told me when charge is below 10% fast charging doesnt work as it should be. so work around he advised to slow charge till 10% n then fast charge n it worked for me.

[AJ @ajtradejournal]

@venkat_fin9 @BesuraTaansane @UPI_NPCI What is big deal in naming the hospital. U can atleast make sure no one else face these kinda issue in midnight.

[AJ @ajtradejournal]

@MovingBusIN it is some fake x screenshot. checked on starmers x it isnt there.

[AJ @ajtradejournal]

bandhan Bank 4/n

[AJ @ajtradejournal]

tide changing for small/ mid sized NBFC/ banks? LIC Housing Finance 1/n

[AJ @ajtradejournal]

MAS financial service 3/n

[AJ @ajtradejournal]

@InvesysCapital while 18% looks bad on bad, i think important thing is having tariff lower than competition.