Things I compiled yesterday as part of my stock research activities.
Quarterly Results
Core Business
🟢 Adani Ports plans to invest up to ₹13,000 Cr for fleet scale-up, expanding marine fleet from 136 to around 200 vessels by 2031. Marine services grew 134% YOY in FY26 to ₹2,681 Cr, already commanding 70% of India’s domestic marine services market.
🟢 Apollo Pipes plans brownfield expansion at Dadri to cater to strong North India demand, targeting total company capacity of approximately 286,000 tonnes over the next two years. Management also targets 25%+ revenue CAGR over three years. The Mirzapur greenfield plant commenced operations in April 2026, adding 30,000 tonnes. North India contributes 60-65% of Apollo Pipes revenue, making this expansion the company’s highest-priority capacity move.
🟢 United Breweries launched Amstel Grande packaged drinking water in 200ml and 500ml formats. India’s branded packaged water market is estimated at approximately ₹25,000 Cr, growing at 12-15% annually, signalling UB’s intent to diversify beyond alcoholic beverages.
🔴 United Breweries management anticipates a cost impact of ₹400-500 Cr over the next 2-3 quarters from energy, fuel, packaging, FX, and aluminium pressures. Against FY25 EBITDA of approximately ₹1,100 Cr, this implies a 36-45% near-term earnings drag if volume growth fails to absorb it.
🔴 Blue Star flagged extremely poor margin visibility due to volatile commodity prices, exchange rates, and potential electronics shortages linked to helium constraints. Current 8-8.5% EBITDA margins are not expected to sustain through 2030 as competition and capacity additions intensify. On a positive note buildings, data centre, and factory enquiries grew 35% in Q4FY26, providing volume support.
🔴 MRF said the Middle East conflict has caused an uncontrolled increase in raw material costs and supply chain disruptions that are expected to continue. MRF spends over ₹10,000 Cr annually on raw materials, primarily natural rubber and crude-linked synthetics.
New Orders Received
🟢 Cochin Shipyard subsidiary UCSL received a new order from Ocean Sparkle (Adani Group) for ASD tugs valued between ₹100 Cr and ₹250 Cr. UCSL has now delivered multiple Ocean Sparkle vessels ahead of contractual deadlines, cementing its position as the preferred repeat-order shipbuilder for Indian-flag harbour tugs.
🟢 Arisinfra Solutions secured an 8-month Developer-as-a-Service contract with Wadhwa Group targeting ₹650 Cr of inventory monetisation at Wadhwa Wise City in Panvel. Panvel is adjacent to the upcoming Navi Mumbai International Airport, making it one of the fastest-appreciating residential market in Mumbai.
Partnerships and Acquisitions
🟢 CleanMax revised its Apple India renewable energy deal, with Apple India acquiring approximately 49% in Taurus Platform while CleanMax retains 51%. The ₹100 Cr initial investment targets 150+ MW of new renewable capacity, supporting Apple’s carbon-neutral-by-2030 supply chain mandate across India.
Economy & Other
🔴 Cocoa futures jumped as much as 7.7% in New York. Sustained spikes are directly negative for Indian chocolate and confectionery companies, with Nestle India and Mondelez India being the most exposed listed entities.
That’s it for today.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.