- 18 months ago, India’s market cap was 3.5 times South Korea and 2 times Taiwan. Now India’s market cap has fallen below both South Korea and Taiwan. For the first time in 26 years, India Inc moved out of MSCI EM top 10.
- IOL Chemicals and Pharmaceuticals posted strong Q4FY26 PAT of Rs.53.16 cr. vs Rs.20.58 cr. QoQ, up 158%, while FY26 PAT rose 36% YoY to Rs.137.64 cr. Non-Ibuprofen share increased from 18% to 37% over 6 years. Capex of Rs.164 cr. in FY26 and Rs.150-200 cr. planned for FY27. Product mix includes Paracetamol, Metformin, Clopidogrel, Fenofibrate and Pantoprazole. Outlook positive with potential re-test of Rs.178.
- POCL Enterprises LEAD gained LME brand listing, boosting global reach. Q4 impact due to ~25-day shutdown for modernization, now fully operational with improved efficiency. Strong recovery expected in Q1FY27. PE 12, ROCE 26.4%, ROE 28.5%, looks attractive and under watch for re-rating.
- VA Tech WABAG secured Rs.250-600 cr. UAE order and Rs.80 bn FY26 inflows, taking order book to Rs.168 bn (4.4x revenue). Strong pipeline of Rs.150 bn domestic and Rs.200-250 bn global. FY26 PAT Rs.370 cr. vs Rs.295 cr., Q4 PAT Rs.128 cr. vs Rs.99.5 cr. Dividend raised to 250%. Strong outlook vs peak of Rs.1944.
- Aries Agro inaugurated relocated Unnano manufacturing unit with 1,01,400 MT capacity. FY26 PAT stood at Rs.38.37 cr. while dividend increased to 25% from 12%. Working capital cycle improved to 64 days from 89 days. Stock looks attractive at Rs.336 v/s 52-week high of Rs.460.
- Dhabriya Polywood secured Rs.48.53 cr. orders including Godrej group. Q4FY26 PAT rose 55% while FY26 PAT jumped 68% to Rs.30.14 cr. PE is 12.7 with ROCE of 25.6%. Ashish Kacholia holds 5.32%. Stock looks attractive at Rs.353 v/s high of Rs.520.
- Debt free, dividend paying Fluidomat reported 350% QoQ jump in Q4 PAT to Rs.10.27 cr. FY26 PAT stood at Rs.20.06 cr. with 75% dividend. ROCE is 30.4%. Stock looks attractive at Rs.800 v/s 52-week high of Rs.1419.
