Thanks sir for share your views.

(post deleted by author)

Good results from the company:

1. Company increase their YoY revenue by 40% compared to their 20% guidance which always looked likely.
2. Create segment:

• Finally the growth has picked up a little bit QoQ growth 14% in Q4 compared to 11% in Q3
• Also, we’re starting to see operating leverage kick-in. Margins in Q4 were 28% compared to just 16% in Q3. Looks like all the marketing and partnerships expenses are paying off now
• YoY revenue growth is 21% which is my only peeve with the results. This is the segment which is expected to lead us to promised land and I would like to see rapid growth here so that company can capture market share which can convert into annually recurring revenue (ARR)

3. Collect segment:

• Unexpected levels of growth here, sales up ~70% YoY and even margins improved by 100 basis points

Missed the con-call unfortunately, so if someone can post the notes here, that would be great

I am quite surprised by Sanghvi Movers’ gross yield guidance of 2-2.2%. Tarachand Infra reported average gross yields of 2.85% in FY24. Tarachand has no presence in wind sector yet (They are entering in FY25) whereas about 50% of Sanghvi’s business comes from wind and wind is supposed to have very good yields across industries.

Also, while I buy their rationale of increasing management commission in a good year to compensate for bad years where management remuneration did not go up, the same could be said about dividends? From FY18-FY21 there were zero dividends. So why are they over-compensating the promoter shareholders while ignoring the minority shareholders?

This and the overall defensive tone of the call was surprising and disappointing to an extent.

Disclaimer: Invested in Tarachand. Tried a results trade in Sanghvi expecting a good set, hit my SL and exited. No reco.