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Course Outline: Topics Recommended Study Time (Hours)

This document outlines the topics and recommended study time for an equity research course divided into chapters. The chapters cover an introduction to equity research, understanding financial statements, analyzing the economy, industry and company, ratio analysis, valuation, and report writing. The total recommended study time is 25.5 hours. Key topics include the role of research analysts, different types of research, understanding annual reports and financial statements, economic and industry analysis, company analysis, various financial ratios, valuation methods like DCF and relative valuation, and report writing guidelines.

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31 views

Course Outline: Topics Recommended Study Time (Hours)

This document outlines the topics and recommended study time for an equity research course divided into chapters. The chapters cover an introduction to equity research, understanding financial statements, analyzing the economy, industry and company, ratio analysis, valuation, and report writing. The total recommended study time is 25.5 hours. Key topics include the role of research analysts, different types of research, understanding annual reports and financial statements, economic and industry analysis, company analysis, various financial ratios, valuation methods like DCF and relative valuation, and report writing guidelines.

Uploaded by

dushyantkr
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Course Outline

Chapter

Topics

Recommended
Study
Time(Hours)

Overview: What is equity research? Goal of an equity research


analyst.
Market Participants: The research providers and the research
users.
Types of Research: Buy side research and Sell side research.
Equity Research - An
Introduction

Role of an Analyst: How do analysts go about research?, Front end

and back end research, equity research as a cost and revenue


center.
Concept of Alpha: Importance of alpha in equity research.
Key Terms used in Equity Markets, Stocks Classification.

Annual Report Overview: Understanding key sections of an Annual


Understanding
Financial Statements

report.
4
Profit & Loss Statement, Balance Sheet, Cash Flow Statement.

Introduction: Stages of the qualitative analysis process - EIC


framework.
Economic Cycles: How valuation of a company gets affected by
economic activities?
Analysis of the
Economy

Key Economic Factors: GDP, Industrial Production, Inflation,

Unemployment, Business and consumer confidence and Oil prices.


Stock Indices: Different benchmark indices across the globe, How
do share prices and stock indices move? How are stock indices
interlinked?

Process: Identifying sub-sectors, Key revenue drivers, Key


concerns.
Analysis of the
Industry

Specific Industry Analysis: Oil & Gas, IT, Telecom, Banking and
Autos.

2.5

Chapter

Topics

Recommended
Study
Time(Hours)

Process: Analyzing the business, Revenue drivers, competitors,


Analysis of the
Company

Management team.
1.5
Case Study: A detailed analysis of Shiv Vani Industries.

Profitability Ratios: Profit Margins - Gross margin, EBITDA margin,


Net Profit margin.
Return Ratios: Return on Equity (ROE), Return on Common Equity
(ROCE), Return on Total Capital (RTC) and Return on Assets
(ROA).
Liquidity Ratios: Current ratio, Quick ratio and Cash ratio.
Activity Ratios: Account receivables turnover & Days of
Ratio Analysis

receivables, Inventory turnover & Days of inventory, Account

4.5

payables turnover & Days of payables.


Solvency Ratios: Debt-to-Equity ratio, Interest coverage ratio and
Financial leverage.
Valuation Ratios: Price to Earnings (P/E) ratio, P/E re-rating and
de-rating, PEG ratio, EV/EBITDA, Price to Book Value (P/BV) ratio.
Case Study: Pantaloons vs. Titan Industries.

Concept: Definition and need for Valuations.


Methods: DCF, Relative Valuation.
Valuation

6
Case Study: A detailed exercise of valuation using DCF for Titan
Industries.

Report Writing

Types of reports, Format,Dos and Dontss of report writing.

TOTAL RECOMMENDED LEARNING HOURS

3
25.5

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