as they need sun and some bare minimun man power for monitering and cleaning.
Posts in category Value Pickr
Jindal saw – Another beneficiary of India’s growth story (02-08-2024)
Q1 FY2025 Concall Highlights:
Opening Remarks:
Revenue Growth 12% YoY.
PAT Growth 67% YoY.
Company continue to add value.
This year may be best ever. Will be 3 years in row.
EBIDTA to sales also moving up.
Debt is increased to lock in raw material prices, which are favorable.
11lac crores for infrastructure by govt. is music for us.
#Jindal Hunting Energy Services Limited:
In First quarter it self, capacity utilization is 85%. Profitable in Q1 it self.
Joint Venture may have some announcement, because order book is full for rest of the year and all boxes are ticked.
Oil Country Tubular Goods (OCTG) company wants to make India Atma Nirbhar.
# Sathavahana Ispat Limited:
Profitable. De-bottlenecking will increase capacity by 10 to 20% at least.
Creating special niche for small diameter which have high demand and high value.
Orderbook:
Oil & Gas is 30 to 35%. Water is 70%. Others is 5%.
UAE is only water facility, DI facility. Supply not only to middle east, all over world in 33 countries.
1.6 billion Dollars. 16 lac tons.
Saw pipe demand not squished. More then 5 lac Ton order for large diameter pipe.
Govt. of India come up with balance scheme, where state has to bring contribution. That makes projects are on track.
Export:
Export is 70%, which is sweet spot. Water pipes mostly in middle east. Oil and Gas is all over world.
CAPEX:
No plans yet. Conserving money.
Conclusion:
Many questions were not answered due to confidentiality and coemption etc.
Value addition projects are going on.
Valuations are lucrative at 12 PE.
As per management, FY2025 will be again best ever.
Financial Highlights:
D: Invested
Aurum Proptech (Majesco) (02-08-2024)
Thanks a lot. This was very helpful. It doesn’t have any impact on the market cap of the company right?
Aurum Proptech (Majesco) (02-08-2024)
Thanks a lot. This was very helpful. It doesn’t have any impact on the market cap of the company right?
Ugro Capital – Opportunity To Invest in a Fintech-like Company Below Book Value (02-08-2024)
Can anyone please explain me what are the different components of the earning of Ugro, got confused after watching this management interview.
UGRO Capital Q1 Results Post Strategy: कैसे रहे कंपनी के नतीजे, कहां दिखा दवाब तो कहां आई तेजी?
Brightcom Group Limited (Formerly Lycos Internet) – Way to Digitalization (02-08-2024)
Dear investors any update on BCG? I can see the NSE and BSE have announced that the trading may be suspended in the stock BCG from June 14th, 2024 after the company failed to disclose the financial results for two consecutive quarters that ended in September and December 2023.
Hitesh portfolio (02-08-2024)
I wish I had a crystal ball and can gaze into it and answer precisely how long bull markets will last. We are in the midst of one of those very strong bull markets and usually these tend to last longer than people expect. These kind of markets tend to digest bad news in their stride and after brief corrections, tend to go up.
Having said that, as mentioned earlier also I think we are in the frothy phase of markets. But in the last parabolic phase of markets if one gets into the right kind of stocks and gets out in time, a lot of money can be made.
Personally I have found that being company and stock specific has worked for me very well over the last few years, and hence I try not to speculate too much about where markets are headed…
At some point the big bad correction will come, but I would love to face correction when my portfolio NAV is say for example 150 rather than 100… Idea should be to make the most of bull markets and be ready to give up some gains during bear markets. Try to be approximately right than precisely wrong.
Hitesh portfolio (02-08-2024)
I wish I had a crystal ball and can gaze into it and answer precisely how long bull markets will last. We are in the midst of one of those very strong bull markets and usually these tend to last longer than people expect. These kind of markets tend to digest bad news in their stride and after brief corrections, tend to go up.
Having said that, as mentioned earlier also I think we are in the frothy phase of markets. But in the last parabolic phase of markets if one gets into the right kind of stocks and gets out in time, a lot of money can be made.
Personally I have found that being company and stock specific has worked for me very well over the last few years, and hence I try not to speculate too much about where markets are headed…
At some point the big bad correction will come, but I would love to face correction when my portfolio NAV is say for example 150 rather than 100… Idea should be to make the most of bull markets and be ready to give up some gains during bear markets. Try to be approximately right than precisely wrong.
NGL Fine-Chem (Animal Health + Human Health + Vet Formulations) (02-08-2024)
Notes from Annual report FY 24
• 3 manufacturing facilities, 95% inhouse production and backward integration leading to cost competitiveness. Roughly 25% of raw material supplies are from China
• High quality and reliable products with no product rejections in 15 years
• Diverse product portfolio 32 API (30 veterinary, 2 human). In FY 24 expanded portfolio by 6 new products and more are under development.
• Market share ranging from 15% to 50% in key products
• Suppliers to 5 of global top 10 animal healthcare companies; No single customer more than 6% of revenue
• Initiated CEP filings for Triclabendazole (already approved), Flunixin Meglumine and Marbofloxacin with EDQM (in 2022)
| Revenues (Rs crs) | FY 20 | FY 21 | FY 22 | FY 23 | FY 24 |
|---|---|---|---|---|---|
| Veterinary APIs | 146 | 238 | 293 | 259 | 323 |
| Human APIs | 3 | 17 | 21 | 13 | 11 |
- Revenue split – 90% Animal APIs, 3% Human APIs, 3% Intermediates and 4% Finished dosages
- Geographic split of revenue – 34% Asia, 26% India, 22% Europe, 16% USA, 2% RoW
- Capex – Ongoing greenfield capex at Tarapur at capex cost of Rs 160 crs (increasing capacity by 50%)
- Will drive next phase of exponential growth
- c. Rs 45 crs invested so far for civil construction – mostly complete. Machinery will be installed in phases over next 12-15 months
- If demand recovery continues, can consider outsourcing some manufacturing to capitalize on growth opportunities until new facility comes up
- 1st phase of capex to complete by FY 25 end (it was Q2 FY 25 as per last update in Jun’24)
- How was FY 24? Early part of FY 24 had significant challenges – subdued demand, high customer inventory and currency volatility in key markets like Egypt, Pakistan and Turkey.
- Inventory destocking phase, which had been a significant headwind, came to an end and led to recover in demand (particularly from Asia) as the year progressed.
- Price realizations were lower compared to previous years.
- Reduction in raw material costs helped in in normalized margin levels.
- Outlook on industry? Promising driven by rising prevalence of zoonotic diseases, expanding animal populations, and humanization of pets – leading to higher expenditure on healthcare
- R&D expense increased 44% YoY @ c. 1.5% of topline
- Trying to navigate regulatory challenges in US which typically takes 2-3 years, Europe is faster
- Promoters’ remuneration (Rahul and Rajesh) c. 3.8 crs ~ 10% of FY 24 net profits
Hitesh portfolio (02-08-2024)
Usha martin attempted a breakout above the congestion zone of 360-380 and briefly traded above 400 but again faced selling pressure and has now come down to retest previous consolidation zone. These kind of consolidations can last a few weeks to few months. The stock price can keep flirting with the 30 WEMA, but as long as it does not crack hard its okay.
disc: In my portfolio I exited as I wanted funds to get into newer ideas. ( don’t ask me which. 
)
I could be wrong in my assumptions about Usha going ahead ( which is it will consolidate more without going down too much), and stock can breakout again and keep going up, but that’s the way things can go sometimes… Everyone needs to do their own diligence and take a call.