Posts in category Value Pickr
Manappuram Finance (30-04-2024)
1,00,000 crore i.e. 25% of the loan book is in micro finance.
Fusion microfinance, another recently listed co with 10,000 cr of AUM gets a valuation of 5,000 crore.
ValuePickr Jaipur (30-04-2024)
I am also interested to join meeting. Pls let me know how to proceed further.
KPIT – CASE (connected, autonomous, shared, electric) – Focused Automotive Play (30-04-2024)
Q4 FY23 Concall Notes
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Honda, Renault, BMW – clients who have announced agreements with KPIT
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Evolving Automotive – Company’s want to move from One time Car Sale to continuous developments – Immersive Digital
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We will look at other mobility spaces
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CC Growth at 39.1%, led by Passenger Car
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Guidance: CC 18-22% and EBDITA Margin of 20.5%(after ESOP Costs)
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ESOP Costs ~ 100 Cr.(roughly 60% of cost for further years) For FY25 (FY24 was around Rs. 10 Cr. – end of FY20 ESOP Cycle) – 0.2% dilution. Attrition in Single Digit.
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KPIT is focused on future technologies like SDV
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OEM’s are engaging more with specialist Software Integrators (like KPIT Tech) than from Tier-I suppliers
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Where will Growth Come from ? : pivoting from Diamond customers > Platinum, Gold customers > then to adjacencies like Industrial Farm Sector > then adding companies from India and China to Top-25
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Engineering Spend: 30-50% captive – JV’s to build their own(BMW – Tata Tech JV). KPIT – IT and ER&D – High End Contracts
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Clients 2-3 add every year drop 1-2 clients. Shift from Tier-1 to OEM’s
ValuePickr Ahmedabad (30-04-2024)
For those not part of the whatsapp group, the next meetup will be held on 5th May at TopSpin, DevArc Mall, SG Highway. The meetup will commence at 10:30AM.
Manappuram Finance (30-04-2024)
Any idea how the value unlocking works for Manappuram?
Havells for investment post the Sylvania stake sale announcement? (30-04-2024)
A great show overall. Resounding beat on all the parameters after a very very long time. According to management commentary (which always tends to be very cautious) demand revival for consumer electrical goods has begun which bodes well for the stock.
Zomato – Should you order? (30-04-2024)
This is indeed a trend. Blinkit prices are comparable to that of Big Basket etc… so from a consumer view point why should one wait for two hours if the same service can be provided in 10-20 mins.
Plus likes of Blinkit have multiple revenue sources so not solely dependent on product margin:
My take is that QC positioning is some where between that of Supermarkets (QC can’t have the no. of SKUs a Supermarket has) and Kirana (less number of SKUs but ticket size can be as low as 10 Rs)
This in my opinion is a value migration story 
Note: I’ve written a full post on Blinkit. As per Valuepickr guidelines not posting the link here. Check out at my substack pankajg.substack.com