These are the turnover numbers for Sanghvi from screener –

Also, from PAT, we need to calculate Free Cash Flow to Equity, not just FCF. It’s what makes owning a bank more profitable than lending to one. When ROCE >> Cost of Debt, leveraging generates FCF towards equity since interest costs remain fixed.

INOXWIND, that is part of this pf, has turned ex-bonus today. For every 1 share, 3 additional shares will be allotted taking the total to 4.

Though the additional shares may take a week or so to get credited, the price has undergone a change today itself.

If you are doing calculation manually, please divide all previous stock prices of INOXWIND by 4 to obtain the correct number.

Please take note of this.

Yes and the Indonesian economy is also not a bad story with urbanisation, real gdp growth, and positive demographics. If the anti US sentiment eases out, they can leverage their under penetration in the country.

When we will get bonus shares credited or reflect in our trading platform?

True Indonesia business has been a drag on the consolidated business so far.

But if u see they have managed to EBITDA and Cash breakeven, get to +ve SSSG (which they achieved in Feb), thus helping it stop the pressure on the consolidated P&L. Decision of not adding any new allocation into the Indonesia subsidiary until the geo-political situation improves, also neutralises the risk to balance sheet. This decision would also help improve KPI (at unit level) as the existing stores mature. They have also done some 20% cost rationalisation at corporate levels; hence the effect closure of 15% under performing BK restaurants on fixed costs, should be taken care of.

I believe if the above continues, the Indonesia business will be overlooked and India business might get it’s required re-rating.