Saurabh Agarwal

On a learning curve,sharing thoughts on the way.

[Saurabh Agarwal @saur_agar7]

There is a thing called big becomes bigger by capturing Market share continuously from peers.
Few Examples
1) V2 Retail
2)Sky Gold
3)Kalyan
4)Polycab
5)Ather Energy
7)Anand Rathi
8) Smartworks
9) Groww
etc..
This quarter was just a continuation of these aspects.

[Saurabh Agarwal @saur_agar7]

Yash Highvoltage Ltd Deep Dive

Understand the physics of busings & it's importance in transformers.

Yash HV Working in a niche segment,a monopolistic SME player , providing RIP and OIP bushings to marquee clients.

Watch the video below to learn performance, Orderbook trends,Margin trajectory.

Strong export trajectory and capex plans.

TAM comparison is also included to give comprehensive value chain of transformer and Transmission Sector as a whole.

Pro tip 🔥
Watch this video as part of Transformer businesses and my last video on Hitachi Energy.
This will help to command a very strong grip on the sector and understanding the dynamics of different businesses.
https://t.co/TsQNkDfdKu
Happy Learning 💪

[Saurabh Agarwal @saur_agar7]

I second it.
Let me just give a few examples to add in context.
Kudankulam plant was started in the 1970s yet to complete for units 3,4,5,6.
Rawatbhata plant started in 1960s after a lot of discussions its unit 7 commissioned recently.
Same is the case for Kakrapara,Gujarat.
Recent Shanti bill gives a good impetus,but there remains a huge runway for tech adoption, foreign players showing interest in the theme,post that bidding, tendering and production etc.
A long way to go maybe even 2-3 years ,if all goes smoothly.
Even after this one has factor in local politics,NGOs, protests etc.
I think except Adani , NTPC and few more players none has shown huge interest as of now,this it's a long game.
Yes this time ,it seems things will go little faster than the past ,with India economy size is much large+govt extensive focus.
Still a huge things to be done ,before on ground implementation.
Most businesses which are giving these narratives are showing future dreams .
And those orders which we see in business like LnT , Kirloskar,KSH etc these are from existing plants (which was even before this recent interest from the investor community).
For more details I have made 2 extensive,well researched videos, anyone is interested these will be of huge help,that's a confidence from side.
Take full advantage of these freely available information
First video
https://t.co/XBSyRObOVk
2nd video
https://t.co/VqIpNQrrEG
One can also simply refer Economics concepts playlists if needed✌️

[Saurabh Agarwal @saur_agar7]

Senoras Pharmaceutical Deep Dive video will be our 6th Business in Pharma space.
Video Out by tomorrow.
Stay Tuned !
Watch the playlists below covering past 5 businesses covered so far
ie
Kwality Pharma
Acutaas Chemicals
Sai Life
Shaiy Plastics
Emcure Pharmaceuticals
👇
https://t.co/RTUeOWqn7R

[Saurabh Agarwal @saur_agar7]

Cartrade Tech 🔥
Why its important to focus on performance and simply ignore the background noises.

[Saurabh Agarwal @saur_agar7]

Cartrade Tech Q4FY26
AI threats debunked & 5 year horizon.
Platform business with Immense Op lev.
A comparison with Tips Music 🎶
And overall perspective on high ROE,debt free,cash generating engines.
Valuation?
https://t.co/V2f7kBydXd
(ignore video quality & focus on content)

[Saurabh Agarwal @saur_agar7]

Yash Highvoltage Ltd Deep Dive

Understand the physics of busings & it's importance in transformers.

Yash HV Working in a niche segment,a monopolistic SME player , providing RIP and OIP bushings to marquee clients.

Watch the video below to learn performance, Orderbook trends,Margin trajectory.

Strong export trajectory and capex plans.

TAM comparison is also included to give comprehensive value chain of transformer and Transmission Sector as a whole.

Pro tip 🔥
Watch this video as part of Transformer businesses and my last video on Hitachi Energy.
This will help to command a very strong grip on the sector and understanding the dynamics of different businesses.
https://t.co/TsQNkDfdKu
Happy Learning 💪

[Saurabh Agarwal @saur_agar7]

Few more pointers to widen the scope of the above discussion.
https://t.co/Fp14d0qRZe

[ThePrintIndia @ThePrintIndia]

1 lakh rooftop solar installations. Zero electricity bills. Lucknow has left Surat behind. But could a policy make panels more expensive and undo the math?

Watch #ThePrintGroundReport by @SamanHusain9 on how Lucknow became India’s solar capital.

https://t.co/TfmT1X7EJN

[Saurabh Agarwal @saur_agar7]

Good to see Oswal Pump is diversifying.

1)In newer States
2)From PM KUSUM to Rooftop Surya Ghar Yojana.

Oswal Pump update on NSE 15th June 2026.

"we wish to inform that the Company has received 03 (Three) Letters of Award (LOAs) from North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL) under the CAPEX plus RESCO Mode Utility - Led Aggregation (ULA) model of the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY) for setting up a cumulative capacity of 63 MW of Grid-Connected Rooftop Solar Projects across the Motihari, Saharsa and Ara Circles in the state of Bihar"

This clearly shows inherit tailwinds from Surya Ghar Yojana,not just from existing states of MP,Maharastra but from newer states of UP,Bihar,West Bengal etc.

Though is a win for Oswal ,we have to see their excution capablity ,as Setting Rooftop requires integrated facilities of Inverters and Li-ion Battery.

In any case its a big +ve for the sector and expansion of TAM coupled with sectoral tailwinds-->Ingridients of a strong demand.

Along with ALCM now kicked in,we will slowly see more clarity on KUSUM as well.

Meanwhile below video can be referred to study the integrated value chain and peers as well.

Oswal
Shakti
Fujiyama
Australian Solar &
GK Energy

https://t.co/CrJRxeXdva

[Saurabh Agarwal @saur_agar7]

Excellent coverage and Case Study for on ground implementataion of PM Surya Ghar Yojna.
Few pointers to widen the coverage.

1)This coverage clearly shows how Rooftop Solar is transforming small cities.
My personal visits in last few months saw new advertisements across cities of Varanashi,Lucknow,Surat ,Delhi and Kolkata.
This shows new players are emerging and investing both on advertisements and local distribition networks.

2)Use of DCR and Make in India- yes it creates an overhang for existing players who are already using cheap non-DCR panels.
But there are both listed and unlisted players which are backward integrating into manufacturing of Cells.
Thus giving them a rather advantage in DCR mkt viz a viz existing legacy players.

3)Furthur FY26 will saw many new cell plants being live from Waaree,Premier ,Alpex just to name a few, thus levelling the cost in DCR market as well.

4)Word of mouth is an important factor ,for its success.
Which is also successful with Lucknow taking over Surat in terms of installation.

5)Another example of word of mouth is Yesterday's Bihar DISCOMS tender to GK Energy and Oswal pump for installation of Rooftop solar of ~ 100 MW
Details below:-
https://t.co/FWLxw3FnEs

6)There is a clear indication of more states following examples of UP,Rajasthan,MP etc.
Example-Bihar and West Bengal

[Saurabh Agarwal @saur_agar7]

Good to see Oswal Pump is diversifying.

1)In newer States
2)From PM KUSUM to Rooftop Surya Ghar Yojana.

Oswal Pump update on NSE 15th June 2026.

"we wish to inform that the Company has received 03 (Three) Letters of Award (LOAs) from North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL) under the CAPEX plus RESCO Mode Utility - Led Aggregation (ULA) model of the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY) for setting up a cumulative capacity of 63 MW of Grid-Connected Rooftop Solar Projects across the Motihari, Saharsa and Ara Circles in the state of Bihar"

This clearly shows inherit tailwinds from Surya Ghar Yojana,not just from existing states of MP,Maharastra but from newer states of UP,Bihar,West Bengal etc.

Though is a win for Oswal ,we have to see their excution capablity ,as Setting Rooftop requires integrated facilities of Inverters and Li-ion Battery.

In any case its a big +ve for the sector and expansion of TAM coupled with sectoral tailwinds-->Ingridients of a strong demand.

Along with ALCM now kicked in,we will slowly see more clarity on KUSUM as well.

Meanwhile below video can be referred to study the integrated value chain and peers as well.

Oswal
Shakti
Fujiyama
Australian Solar &
GK Energy

https://t.co/CrJRxeXdva

[Brivael Le Pogam @brivael]

SpaceX a clôturé son premier jour de cotation à 2 100 milliards de dollars, +19%. Tout le monde regarde le chiffre. Personne ne regarde ce qu'il price réellement.

Laissez-moi vous dire ce que le marché vient d'acheter, et pourquoi je pense que cette boîte vaudra 30 à 50 trillions d'ici 5 ans.

D'abord, le symbole. Cette IPO est un référendum. D'un côté, 20 ans de discours sur la décroissance, la sobriété, la redistribution, la fin de l'histoire gérée par des comités. De l'autre, un homme qui a dit "je vais rendre l'humanité multiplanétaire", que tout le monde a traité de clown, et qui vient de créer la plus grosse entreprise cotée de l'histoire en partant d'un entrepôt à El Segundo. Le marché a voté. Le wokisme avait des départements RH, SpaceX avait des fusées. Les fusées ont gagné.

Ensuite, la mécanique économique, parce que c'est là que tout le monde se trompe. Les analystes valorisent SpaceX comme une entreprise de lancement plus Starlink. C'est comme valoriser Internet en 1995 sur le marché du fax. Starship ne réduit pas le coût du kilo en orbite de 20%, il le divise par 100. Et chaque fois dans l'histoire qu'un coût d'infrastructure est divisé par 100, ce n'est pas le marché existant qui grossit, ce sont des industries entières qui naissent. Le coût du calcul divisé par 100 a donné Internet, le smartphone, l'IA. Le coût de l'orbite divisé par 100 va donner une économie spatiale complète.

Faisons la liste de ce qui devient rentable quand le kilo en orbite coûte le prix d'un billet d'avion. Les data centers orbitaux, avec énergie solaire continue et refroidissement gratuit, au moment exact où l'IA fait exploser la demande énergétique terrestre. La fabrication en microgravité de semi-conducteurs, de fibres optiques, d'organes imprimés impossibles à produire sous gravité. Le tourisme orbital de masse, puis les hôtels lunaires, qui passeront du fantasme au business plan exactement comme la croisière de luxe au 20ème siècle. Le transport point à point terrestre, Paris-Tokyo en 40 minutes. L'industrie minière des astéroïdes, dont un seul corps de classe M contient plus de métaux que tout ce que l'humanité a extrait depuis le néolithique. Et Mars en ligne de mire, pas comme destination touristique, mais comme le plus grand projet d'infrastructure jamais entrepris, avec tout ce que ça implique de demande en énergie, matériaux, robotique, IA.

SpaceX ne participera pas à ces marchés. SpaceX possède le péage d'entrée de tous ces marchés. C'est AWS, mais pour la civilisation. Apple vaut 3 500 milliards en vendant des rectangles de verre sur une seule planète. Le premier monopole d'accès à une frontière infinie à 30 ou 50 trillions dans 5 ans, ce n'est pas de l'exubérance, c'est une simple règle de trois sur l'expansion du marché adressable.

Et maintenant, la partie que je préfère. Ce futur n'a pas besoin de bureaucrates. Il n'y a pas de comité consultatif en orbite. Pas de commission Théodule sur Mars. Chaque dollar de cette nouvelle économie sera créé par des ingénieurs, des techniciens, des soudeurs, des pilotes, des entrepreneurs. Les diplômés en gestion de la norme vont devoir apprendre un métier utile, et franchement, c'est une excellente nouvelle pour eux aussi : construire est infiniment plus fun que contrôler.

Parce que c'est ça, le vrai signal d'aujourd'hui. Pendant 50 ans on nous a vendu un futur rétréci : moins d'énergie, moins d'enfants, moins d'ambition, gérer le déclin proprement. Et là, d'un coup, le plus gros actif financier du monde est un pari sur l'abondance, l'expansion et l'aventure. Le pessimisme vient de passer en position vendeuse sur lui-même.

Le futur sera méga fun. Il y aura des hôtels avec vue sur la Terre, des honeymoons en orbite, des gamins qui diront "papa, c'était comment avant les fusées réutilisables" comme on dit "c'était comment avant Internet". Et quelque part dans les années 2030, un humain marchera sur Mars en livestream devant 5 milliards de personnes, et ce jour-là plus personne ne se souviendra du nom d'un seul de ses détracteurs.

Achetez de l'optimisme. C'est encore sous-valorisé.

[Saurabh Agarwal @saur_agar7]

Video is live covering business model of Hitachi Energy India Ltd.
High Valuations and some thoughts on orderbook,proxy ecosystems and Super cycles.
A clear benificiary of major emerging themes.
https://t.co/JSXUIE7Ku7

[Saurabh Agarwal @saur_agar7]

This FY26 ending quarter I have already covered 23 banks and financials on my YouTube channel.

Such comprehensive coverage is quite difficult to find at one place.
These include reading and watching more than 500 pages of concall just for the Financial sector.

One can get a detailed understanding of the whole Sector by watching the playlist link shared.

Businesses covered are
1)SG Finserv
2)Jio Financials
3)Piramal Finance
4)Fedbank Financial Service
5)Aye Finance
6)SBFC Finance
7)IDFC First Bank
8)Bajaj Housing
9)Muthoot Microfin
10)Credit Access Grameen
11)Spandana Spoorthy
12) Suryoday SFB
13)Ujjivan SFB
14)AU Small Finance Bank
15)Jana Small Finance Bank
16)ESAF Small Finance Bank
17)Equitas Small Finance Bank
18)Housing Finance
19)Home First Finance
20)India Shelter Finance
21)Aptus Value Housing
22)Capri Global
23)Poonawalla Fincorp

Take full advantage of such filtered content ✌️

As promised I am thinking of adding financials episode 5 with 8-10 more names for this sector ,this will be our end of FY26 financial sector and a good kickstart for FY27 qtrs.

Let me know which more financials you all will like me to add,I already have a few names in my mind,and can add 4-5 names from community requests.

Let me know by tomorrow, thinking about covering it by the weekend.
Happy learning ✌️💪
https://t.co/oLeBgtMINB

Few handles which have helped me to broaden my understanding,thanks for sharing Immense knowledge.👌
@shome_rajarshi @ishmohit1
@nid_rockz @SureshKBN
@LearningEleven

[Saurabh Agarwal @saur_agar7]

Good to see Oswal Pump is diversifying.

1)In newer States
2)From PM KUSUM to Rooftop Surya Ghar Yojana.

Oswal Pump update on NSE 15th June 2026.

"we wish to inform that the Company has received 03 (Three) Letters of Award (LOAs) from North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL) under the CAPEX plus RESCO Mode Utility - Led Aggregation (ULA) model of the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY) for setting up a cumulative capacity of 63 MW of Grid-Connected Rooftop Solar Projects across the Motihari, Saharsa and Ara Circles in the state of Bihar"

This clearly shows inherit tailwinds from Surya Ghar Yojana,not just from existing states of MP,Maharastra but from newer states of UP,Bihar,West Bengal etc.

Though is a win for Oswal ,we have to see their excution capablity ,as Setting Rooftop requires integrated facilities of Inverters and Li-ion Battery.

In any case its a big +ve for the sector and expansion of TAM coupled with sectoral tailwinds-->Ingridients of a strong demand.

Along with ALCM now kicked in,we will slowly see more clarity on KUSUM as well.

Meanwhile below video can be referred to study the integrated value chain and peers as well.

Oswal
Shakti
Fujiyama
Australian Solar &
GK Energy

https://t.co/CrJRxeXdva

[Saurabh Agarwal @saur_agar7]

Just saw update from Australian Premium Solar (India) Limited
Seems Bihar DISCOMS have woken up for Rooftop solar theme.
Good for the sector,also note these projects are under RESCO model(ie Whole end to end project and ownership under Australian Premium Solar (India) Limited or Oswal , ie Margin accretive ,annuity based model.)
Only concern remains is counter party risk,especially in states where A&T lossses are high.

[Saurabh Agarwal @saur_agar7]

Yes Lumax Ind Has already surpassed EM of 10% and with LED Premiumisation theme continued they are on path to surpass 12% margins In upcoming years.
For the wider audience in the video below I have covered 9 such Auto Ancillary Businesses report card and Outlook post FY26 results.
Take full advantage of this to study and to cut the noises and take outlook from here.✌️
https://t.co/EO3Fpt3n8a

[Saurabh Agarwal @saur_agar7]

@imkunal_in @nid_rockz That Is lumax Auto,Lumax Ind is into, Led lighting.

[Saurabh Agarwal @saur_agar7]

This FY26 ending quarter I have already covered 23 banks and financials on my YouTube channel.

Such comprehensive coverage is quite difficult to find at one place.
These include reading and watching more than 500 pages of concall just for the Financial sector.

One can get a detailed understanding of the whole Sector by watching the playlist link shared.

Businesses covered are
1)SG Finserv
2)Jio Financials
3)Piramal Finance
4)Fedbank Financial Service
5)Aye Finance
6)SBFC Finance
7)IDFC First Bank
8)Bajaj Housing
9)Muthoot Microfin
10)Credit Access Grameen
11)Spandana Spoorthy
12) Suryoday SFB
13)Ujjivan SFB
14)AU Small Finance Bank
15)Jana Small Finance Bank
16)ESAF Small Finance Bank
17)Equitas Small Finance Bank
18)Housing Finance
19)Home First Finance
20)India Shelter Finance
21)Aptus Value Housing
22)Capri Global
23)Poonawalla Fincorp

Take full advantage of such filtered content ✌️

As promised I am thinking of adding financials episode 5 with 8-10 more names for this sector ,this will be our end of FY26 financial sector and a good kickstart for FY27 qtrs.

Let me know which more financials you all will like me to add,I already have a few names in my mind,and can add 4-5 names from community requests.

Let me know by tomorrow, thinking about covering it by the weekend.
Happy learning ✌️💪
https://t.co/oLeBgtMINB

Few handles which have helped me to broaden my understanding,thanks for sharing Immense knowledge.👌
@shome_rajarshi @ishmohit1
@nid_rockz @SureshKBN
@LearningEleven

[Saurabh Agarwal @saur_agar7]

Seems they have slightly up their guidance,or maybe its just a divergence viz conference and concalls.
In recent concalls guidance is around 40-50% as base is getting bigger.
Although for the SME engineering arms even 50-60% seems lesser.
For the wider audience below video will be simply a masterclass to analyse 10+ EPC businesses at a single place incudinging KP Group,Inox and Suzlon etc as well,refer timestamps for ease.
https://t.co/BrAmy7BOo1

[Saurabh Agarwal @saur_agar7]

Video is live covering business model of Hitachi Energy India Ltd.
High Valuations and some thoughts on orderbook,proxy ecosystems and Super cycles.
A clear benificiary of major emerging themes.
https://t.co/JSXUIE7Ku7

[Saurabh Agarwal @saur_agar7]

Will be covering
Hitachi Energy India Ltd
Ofcourse valuations are high and a lot of re-rating is already done.
Purpose of video to analyse the scope of AI/DC,HVDC,RE,BESS other emerging sectors and how once can apply this other similar/related businessess in the value chains w/o being affected by short there noises due to commodity inflation.
It will be an excellent addition to our Deep Dives.
Stay Tuned.✌️