Thesis in Notes. Model in Excel. Targets in a PDF. Not any more.
StockTracker gives every stock you track a single tabbed workspace — thesis, financial model, quarterly timeline, conviction highlights, and your broker position, all connected so the research you did yesterday is useful tomorrow.
One page per company, all the research
The discipline of deep research — without the overhead of managing four separate tools.
One workspace, not four tools
Thesis in Notes, model in Excel, targets in a PDF, holdings in Zerodha — that is the current state for most investors. StockTracker collapses all four into a single tabbed page per company so nothing is orphaned.
Research that stays connected to the position
The model updates the buy price. The buy price updates the BUY badge. The badge lives on the same page as the thesis and the holdings. When the CMP moves, you see the implication without switching tools.
Conviction notes that surface at the right moment
Pin the 2–3 things you'd want to remember on results day in Highlights. They appear on the dashboard card — so your own conviction is in front of you exactly when the market is testing it.
– Investment Thesis
is transforming from a cyclical sugar-distillery company into a high-margin premium alco-bev business led by strong brands like Indri, Camikara, Whistler and Cashmir. The company is riding multiple structural tailwinds including premiumization of Indian liquor consumption, rising global acceptance of Indian single malts, export growth and increasing consumer preference for craft and luxury spirits.
The biggest trigger is the successful creation of Indri, which has rapidly become one of the fastest-growing Indian single malt brands globally and has already won multiple international awards including "Best Whisky in the World". Unlike most Indian distilleries that remain commodity ethanol or bulk alcohol players, is moving aggressively toward branded IMFL where margins are significantly higher.
FY26 marks an inflection point:
- Distillery revenue grew ~42% to ₹900+ Cr
- Distillery EBITDA margin reached ~31.5%
- Capacity expansion at Indri and the new Chhattisgarh facility has been completed
- Supply constraints that limited growth in FY25/FY26 are now removed
- Management has guided for 60%–70% growth in FY27 and targets 3x–4x business growth over the next 3–4 years. With IMFL mix rising rapidly, EBITDA and PAT could scale much faster than revenue due to operating leverage and premiumization.
- The proposed sugar demerger is another major trigger. Once separated, the market may begin valuing as a pure-play premium alco-bev company rather than a sugar-linked cyclical business. This could potentially result in a valuation rerating closer to premium liquor peers.
Key long-term drivers:
- Rising premium and luxury IMFL mix
- Strong export opportunity for Indian single malts
- Large aging barrel inventory enabling future premium launches
- Increasing distribution across India and global markets
- High-margin brand-led business model
- Potential acquisitions and new premium product launches
Key risks:
- Execution risk in scaling premium brands
- Working capital intensity due to aging inventory
- Regulatory/state policy risks in liquor industry
- Competition from larger players like Diageo, Radico and Amrut
- Premium demand slowdown
Overall, appears to be at an early stage of becoming a scaled premium Indian spirits company with strong brand optionality, improving economics and significant operating leverage over the next few years.
Real StockTracker thesis editor — company name masked for privacy. Thesis content is illustrative.
Real StockTracker thesis editor — company name masked for privacy. Thesis content is illustrative.
How to do this in StockTracker
From scattered notes and spreadsheets to one workspace that does the heavy lifting.
Add a company
Search by name or ISIN, pick the portfolio it belongs to (holdings, watchlist, or a named research basket), and the workspace opens immediately.
Write the thesis
Open the Thesis tab and write your investment case — why the business is good, why the price is right (or not yet), and what would change your mind. Rich text, images, and tables all work.
Build the model
Go to Projections & Valuations, enter your revenue and margin assumptions, and set target multiples for your bull, base, and bare cases. The target buy price and IRRs compute automatically.
Log the quarter
After each result, add a Timeline entry, label it Q1 FY26 (or whatever the period is), paste your concall notes, and attach the PDF or filing link. The arc builds itself entry by entry.
Pin your conviction in Highlights
Add the 2–3 things that would make you buy more — or that are load-bearing for the thesis. They surface on the dashboard card so you see them without opening the workspace.
Explore more
Frequently asked questions
- What tabs does each company workspace have?
- Every company you track gets six tabs: Details (the verdict — CMP, target buy, margin of safety, IRR, conviction stars, BUY badge), Thesis (rich text for your investment case), Projections & Valuations (multi-year model + bull/base/bare scenarios), Timeline (quarterly notes and attachments), Highlights (the 2–3 bullet points that would make you buy more, surfaced on the dashboard), and Holdings (your actual position from a broker import or manual entry).
- Is this only for stocks I already hold?
- No. A company in StockTracker can be a holding (you own it), a watchlist name (you want to buy it), or pure research (you're still deciding). The workspace is identical for all three — only the Holdings tab differs based on whether you have a position.
- Does the thesis tab support formatting and images?
- Yes. The Thesis tab and the Timeline entries both use a full rich-text editor — headings, bold, bullet lists, tables, and embedded images. You can paste directly from a Word document or a web page.
- What are Highlights and how are they different from the thesis?
- Highlights are a 2–3 bullet TL;DR of the conviction case — the specific things that would make you buy more, or that you'd want to remember on results day without re-reading the full thesis. They surface on the dashboard card for the company so you don't have to open the workspace to recall them.