Professional Documents
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Retail segment equity brokerage pool recovered marginally (by 1-2%) to ~Rs.
Pressure on
9500 crore in FY14, after witnessing multi-year declines
Revenue and Overall institutional brokerage pool has undergone significant downsizing,
Margins standing at less than INR 2000 crore in FY13 from ~INR 2400 in FY11-12
Increasing By mid-2014, the market share of Top 100 brokers on NSE stood at almost
Pace of 80% , increasing from 73% two years back
Compelling need to build scale for managing increasing operational costs-
Consolidation
largely because of technology upgradation and compliance costs
By mid-2014, online and mobile trading accounted for ~40% of retail volumes.
Technological Even for traditional brokerages, this accounts for up to 50% of trading
Disruption volumes
Zero or discount broking, no-frills model gaining traction
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What are the implications?
The changing business landscape means, players have to reengineer all core processes to achieve:
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The COST DYNAMICS of sell-side research set-up.
The model is no longer sustainable!
Coverage cost/
ticker is 2-6 8-10 companies under coverage per analyst
lakh p.a.
This excludes Median sector analyst salary of INR 40-50 lakh per
overheads and annum
admin costs Sector
Analyst
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Whats the solution? Process Innovation
Data
Human
Skills
Tech
Business Impact
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Words of wisdom from the Sage of Omaha
"To invest successfully, you need not understand beta, efficient markets, modern
portfolio theory, option pricing or emerging markets. You may, in fact, be better off
knowing nothing of these. That, of course, is not the prevailing view at most business
schools, whose finance curriculum tends to be dominated by such subjects. In our
view, though, investment students need only two well-taught courses - How to
Value a Business, and How to Think About Market Prices.
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Dion: Key Investment Research Capabilities
Equity
Research
M&A Sector
Support Reports
Investment
Research
Offerings
Financial Thematic
Modeling Reports
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Combining Research and Technology to Create Global Products
Select Engagement Caselets on research and technology based solutions
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Leveraging Data and Technology to Deliver Value
Select Engagement Caselets across data management segment
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Research support across diverse areas
Select Engagement Caselets across financial & business research
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DION A Global Technology, Research, & Information
Solutions Provider
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90%
of the worlds
largest financial
institutions are with
us
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600 employees
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FEW OF OUR GLOBAL CLIENTS (1)
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FEW OF OUR GLOBAL CLIENTS (2)
A partial list of our clients:
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Appendix
(FOR REFERENCE ONLY. NOT TO BE PRESENTED)
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Equity Research
A global firm with proven experience in preparing equity research across industries and markets
Over 50 highly skilled staff comprising CFAs, MBAs and Statistical Modelers
Strong client base of leading I-Banks, Equity Research firms & Security Brokers
Service Bouquet
Buy-side and sell-side reports including initiating coverage reports, standard reports, issue reports, investor notes, earning
notes, and event based reports
Creating / updating financial models and conducting background research on company / industry as per the coverage-
universe
Research Methodology
Comprehensive desk research methodology analyzing company filings, analyst notes, transcripts, analyst presentations
etc.
Focused primaries with key opinion leaders and industry practitioners to supplement secondary research process
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RIS Solutions- Newsletters
Significant experience in designing, conceptualizing and producing newsletters on global financial markets
Dion prepares a range of newsletters and market reports for sell-side, buy-side and independent research
providers
The newsletters are tailored and aligned to each clients unique template, style, and context
Comprehensive suite of solutions encompassing market newsletters, DCM & ECM reports and commodity updates
covering global and regional markets
Almost two decades of experience and a proven technology platform for newsletter preparation and delivery
Product Bouquet
Sector, FX, and Currency Updates Fixed Income Reports DTP / Graphics Support
Global & Domestic Equity Market
Commodity Reports Macro Economic Reports
Reports
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1 2 3
RIS Solutions- Financial Modeling
Robust and user-friendly financial models providing business valuation and decision support solutions
Dion has significant experience and expertise in the designing, maintaining and updating a suite of financial
models for business valuation and strategic decision making
Our financial model solutions enable clients to translate their business decision options into quantifiable financial
implications
Our models find application in various transactional and business evaluation decision making
Model Build / Update Service Offering
Typically used for Project Finance & PPP deals, M&A and MBO/LBO
transactions, Refinancing & Equity raising and Business performance tracking,
among others
Involves conceptualizing framework, designing models and updating already
developed models on monthly, quarterly, and need based frequency
Model Review / Fairness Opinion Services
We offer tailored independent reviews of financial models across industries and
Financial Modeling functionalities
Solutions
Engagements include thorough line-by-line review, model re-write, detailed
model risk and scenario analysis
Engagement Models
We can support clients through FTE and project / output based models based
on demand and turnaround time requirements
Provide customized automated solution based on our propriety platform D-
RIVE, thereby offering financial modeling solution for various listed / unlisted
companies
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Sector Research
Dion supports CXOs in Corporates, M&A Advisory Firms, and Sell-Side Entities with accurate and incisive answers
to critical questions on industries, market participants, innovation and technology trends
Significant experience in conducting sector analysis including deep-dive and rapid research assignments
Global Coverage: We have worked with some of the leading buy-side entities globally to understand market
Sector Research
Pharma Prepared a detailed industry report on Indian Pharmaceutical market highlighting market value / value by
segments and therapeutic areas
Analysis included: Growth drivers, regulations, business segments, product pipeline, competition,
opportunity areas and action points, financial projections and future outlook
e-Commerce
Worked with a global client to analyze Singapores e-commerce industry and identify potential M&A targets
Analysis included evaluating the market potential, identifying key growth segments, forecasting future
growth till 2017 and profiling potential targets
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Thematic Research
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M&A Support
Dion is a reputed service provider in financial research space serving leading IBs and Corporate Finance firms
Dion has significant experience in M&A research support engagements and has delivered over
200 client projects till date
Project Engagements: FTE, project based, output based and on hourly basis
Teams Supported: Corporate Advisory, M&A, Project Finance, Group Strategy and Corporate
Development
Industry Groups: TMT, Oil & Gas, Metals & Mining, Infrastructure, FIG, Hospitality etc.
Geographic Focus: North America, Europe, Asia Pacific and Africa
Experience
Summary
Service Bouquet
Company Research / Profiles Reports Macro / Industry Data Annotated Share price charts
IPO / Transaction Case Studies Trading & Transaction Comps Shareholding Analysis
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Contact
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