Windmill Capital Investor Letter – March 2026 Edition
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Windmill Capital Investor Letter – March 2026 Edition
From a $119/bbl oil shock and a record-low rupee to governance tremors at HDFC Bank and India's first green hydrogen export contracts, we break down March's five defining stories. Read the full update.
Strait to the Point: What the Hormuz Crisis Means for Your Money
War, oil, and your portfolio: what the Hormuz crisis means for Indian investors and how to stay the course.
Full Throttle: Mahindra’s Most Consequential Chapter Yet
Mahindra sold out a Batman electric SUV in 135 seconds. That's just one headline from its most record-breaking year ever.
Sun Pharma’s Affordable Ozempic Moment And Four Other Big Bets Running Simultaneously
India's largest drugmaker is making its biggest bets yet; affordable Ozempic, a $10B acquisition, and a skin cancer breakthrough.
Old Guard, New Playbook: How ITC Is Quietly Betting on India’s Next Consumer
Legacy FMCG giants are no longer content building brands from scratch. ITC, Marico, and HUL are snapping up digital-first startups but each is doing it very differently.
Energy Security is Emerging as India’s Biggest Macro Story
From oil shocks to clean power, India is reshaping its energy strategy for the next growth cycle. Read more