Genus power name popped in electrol bond as well. Not sure if its going to impact anything.

They are leveraging hindware brand into consumer and pipe segment .

They are definately successful into chimney segment(as per their numbers and my scruttlebutt) and may succeed into pipe segment as these are related businesses.

However, going into fans and many nonkitchen items is definately DIWORSIFICATION.

Management has also guided about (feb 2024 concall)

1…Withdrawing from non kitchen products.

2…Debt
They have 220 cr cfo in 2023.Due to huge growth opporunity, they are planning for expansion into pipe segment.All other cash will go into debt reduction.

Disc…invested

Focus Lighting –

Q3 FY 24 results and Concall highlights –

Sales – 59 vs 61 cr
EBITDA – 13 vs 15 cr ( margins @ 22 vs 25 pc … still very healthy for a manufacturing company )
PAT – 9.7 vs 11.3 cr

Segment wise revenues –

Retail lighting ( sold to customers operating retail stores like Clothing brands etc ) – 29 cr

Home lighting – 27 cr

Infrastructure lighting – 0.30 cr

Railways – 0.13 cr

Company participated in ACE TECH 2023 – a major architectural exhibition in India held at Bombay exhibition center from Nov 2nd to 5th – basically showcasing company’s PLUS range of home lighting

Some of company’s prominent clients include – Tata Motors, BMW, GAS, DIESEL etc

Company has tied up with multiple brands in Middle East – Centerpoint and Splash ( both belong to the Landmark group ). Have also tied up with Home Center and Home Box in India

Italian Lighting company – Schweitzer has tied up with the company for contract manufacturing of Retail lighting. Company shall be manufacturing in India and supplying to them for worldwide clients. Schweitzer is the largest lighting vendor for retail Industry across Europe. Company expects an annual business of 8-12 cr from this tie-up ( to begin with )

Company has invested heavily in new energy saving technology that can save upto 30-40 pc of energy costs for retailers. They ve also patented the technology

On home lighting front, company has set up its experience centers in Bengaluru and Hyderabad. Going to open a 4500 Sq Ft experience center at Nariman Point. Also shifting company’s office to Nariman point

Infra and Outdoor lighting – company has executed the lighting for Surat Fort. Bidding for multiple projects in Gujarat and Maharashtra. Expect to win – 60 to 80 cr worth of orders in FY 25. Have got the order for Guwahati airport from Adani group. Focus Lighting is the only company bidding for Mumbai airport

On railway lighting, 07 of company’s products have been approved. Have designed exiting new reading lights for Vande-Bharat and have got encouraging response from Railways

Company is also opening an experience centre in Saudi Arabia. Saudi is likely to be a huge market wrt Infrastructure lighting segment

Big opportunity exists for the company in Home Lighting space. Bigger brands don’t sell technical products in India, they only sell commodity products. Technical products are only sold by European companies that cost 4-5 times vs Focus Lighting. Going fwd – company aims to keep opening 4-5 experience centers / yr

Disc: initiated a tracking position, may add / reduce depending on execution, not SEBI registered, biased

Can you please elaborate on the down cycle?
As per the concall, Rupeshbhai did mention, there doesnt seem to be any lack of orders anytime soon, but concern is more on supply of skilled workers.

What may lead to a down cycle? , given the huge capex cycle in Make In India.
There is definitely a visibility of 2 years atleast.

Hello friends,
I was studying the technical charts of BATA India yesterday and I found that it has formed a Double Bottom chart pattern on the weekly time frame. However, it is still not the right time to enter the stock, since the downward fall needs to stop and the stock needs to show signs of consolidation and a slight upmove. This would be proven, if it closes on a weekly timeframe above Rs. 1420 and it will become ripe for a 6-8month timeframe. My first target for the stock in that case would be Rs. 1771 and my ultimate target is Rs. 1973, from where it started manifesting the double bottom.

Disclaimer – I am not a SEBI registered analyst. Pls do your own analysis before you take your investing decision