Summary of Key Points from the Conference Call Industry Overview - The report covers various sectors in the Indian market, including Consumer Goods, Healthcare, Industrials, Internet, Natural Resources & Clean Tech, and Mobility. Company-Specific Insights Titan Co. (TITN.BO) - **Rating**: Buy - **Market Cap**: $38.06 billion - **Target Price**: $4,500, representing an 18% upside - **Growth**: Expected consolidated jewellery sales CAGR of ~18% and EBIT CAGR of ~23% from FY25-28, driven by market share gains from unorganized jewellers and strong growth in Caratlane and international business [9][9][9] Godrej Consumer Products Ltd. (GOCP.BO) - **Rating**: Buy - **Market Cap**: $12.99 billion - **Target Price**: $1,425, representing a 26% upside - **Earnings Growth**: Anticipated EBITDA CAGR of 13% from FY26E-28E, driven by market share gains in home insecticides and recovery in India margins due to price increases [13][13][13] Neuland Labs (NEUL.BO) - **Rating**: Buy - **Market Cap**: $2.62 billion - **Target Price**: $19,700, representing a 9% upside - **Market Potential**: Addressable market size of $100 billion in 2024, with expected growth at ~15% CAGR over the next five years [18][18][18] Piramal Pharma (PIRM.BO) - **Rating**: Buy - **Market Cap**: $2.91 billion - **Target Price**: $250, representing a 28% upside - **Profitability**: Expected to improve through operating and financial leverage, with a focus on CDMO recovery post-FY26 [21][23][23] Havells India (HVEL.BO) - **Rating**: Buy - **Market Cap**: $10.26 billion - **Target Price**: $1,740, representing a 19% upside - **Growth Drivers**: New capacity in cables and wires, consistent new product introductions, and management focus on solar products [29][29][29] InterGlobe Aviation Ltd. (INGL.BO) - **Rating**: Buy - **Market Cap**: $24.22 billion - **Target Price**: $6,000, representing a 7% upside - **Market Share**: Indigo's market share increased from 48% in Feb-20 to ~64.5% in Aug-25, with expectations of sustainable growth [34][34][34] PTC Industries (PCIN.BO) - **Rating**: Buy - **Market Cap**: $2.82 billion - **Target Price**: $24,725, representing a 43% upside - **Earnings Growth**: Expected revenue growth of >70% CAGR through FY30E, driven by aerospace-grade processed materials [40][42][42] Solar Industries (SLIN.BO) - **Rating**: Buy - **Market Cap**: $13.68 billion - **Target Price**: $18,215, representing a 36% upside - **Defense Business**: Expected rapid growth in defense business with significant order backlog [47][47][47] MakeMyTrip Ltd. (MMYT) - **Rating**: Buy - **Market Cap**: $7.3 billion - **Target Price**: $123, representing a 60.4% upside - **Growth Forecast**: Anticipated 19% revenue CAGR from FY25-30E, driven by online penetration and operating leverage [50][52][52] Eternal Ltd. (ETEA.BO) - **Rating**: Buy - **Market Cap**: $32.8 billion - **Target Price**: $390, representing a 29.4% upside - **Growth Profile**: Expected 90+% FY25-FY27E NOV CAGR, with strong margins in food delivery and quick commerce [57][57][57] Reliance Industries (RELI.BO) - **Rating**: Buy - **Market Cap**: $227.29 billion - **Target Price**: $1,795, representing a 21% upside - **Earnings Growth**: Expected EBITDA growth of 15% in FY26E, driven by strong refining margins and retail growth [60][62][62] NTPC Ltd. (NTPC.BO) - **Rating**: Buy - **Market Cap**: $35.6 billion - **Target Price**: $450, representing a 38.1% upside - **Market Position**: Anticipated rise in peak power deficit to positively impact valuation [65][65][65] Additional Insights - The report emphasizes the potential for significant growth across various sectors in India, driven by market share gains, new product introductions, and favorable macroeconomic conditions. - The focus on operating leverage and financial improvements across companies indicates a positive outlook for profitability in the medium term.