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Posts in category Value Pickr
Raymond – The Complete Man (19-03-2024)
Hi All,
I’m an aspiring ER analyst and have been tracking Raymond LTD. for 3 months.
What is the corporate governance issue that everyone mentions about this company?
My analysis hasn’t pointed out any serious red flags.
Thanks in advance
Raymond – The Complete Man (19-03-2024)
Hi All,
I’m an aspiring ER analyst and have been tracking Raymond LTD. for 3 months.
What is the corporate governance issue that everyone mentions about this company?
My analysis hasn’t pointed out any serious red flags.
Thanks in advance
Iris Business Services – Emerging SAAS Microcap (19-03-2024)
- I am not sure, something to ask I suppose.
- Probably due to the upfront cost of developing and launching their SaaS Carbon product, TCS, on the other hand is a service-based company directly marking up x% over their employee salary. Operating leverage should play out here if they’re able to sell the product – basically fixed costs remain the same while sales increase
- Look at the con-calls, they have previously given a 20% revenue growth guidance over the next few years, though I feel the company should comfortably beat this (going by the Marketing JD on their careers page). For industry growth, you can look at other global players like Workiva. Not a direct comparison, since Workiva’s portfolio of products is much larger and their pricing is also much higher than IRIS Carbon
- Management has repeatedly said the reason for not raising direct funds is because they don’t want to dilute at such a low market cap. Additionally, the management can’t participate in a rights issue due to their low salaries. Look at their credentials, folks from Ivy League, IIM-A working at 45 lpa + bonus. The highest paid employee is their CTO.
Dreamfolks services limited( DFS) (19-03-2024)
The key to growth would be as you pointed out and too think is :
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Air Passenger Growth ( likely with growth in discretionary spending by Indians, observe that there is no growth in Marico, however leisure spending and travel has increased. )
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Credit Card Growth – still lot of room to play.
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Company focusing on playing the corporate benefits card, which many MNC and top Indian companies can on-board.
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Company to increase the circumference of offerings across leisure and travel.
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Company to expand internationally organically or with tie-ups …
With more airports across Indian cities, infra and travel increasing … a long term play for alteast next 3-5 years… the margin pressure is real though and hence the sales growth can fizzle out !!
Snowman Logistics (19-03-2024)
In the last concall (Q3), mgmt has given a guidance of 1k Cr sales by FY 26, which means the EPS can be alteast expected to be doubled … I believe this will be the bookish case of PE contraction where by the valuations will rise however the price will stay in this range …
My biggest worry is ROE in this company & the dividend payout ratio… the company is paying out all it’s profits and not re-investing and mgmt has somewhere in the past also affirmed that they will continue with the dividend policy which “might” be one of the reasons for promoters buying …
The continued payout increases the PE ratio, promoters buying sustains the price level and ROE struggles as EPS doesn’t grow as the earnings are not ploughed back into the business for growth…
TAAL Enterprise – cheap valueations (19-03-2024)
The Company has had a presence in the Air Charter segment of the Aviation Industry.
The company was operating one leased Cessna Citation CJ2+ type of aircraft with a seating capacity of seven passengers. The aircraft was based at Pune airport and the Company had a loyal set of Charter customers centered around Maharashtra. The aircraft was maintained at the MRO facility of TAAL at Hosur in Tamil Nadu.
During the FY2019-20, the CJ2+ aircraft operated by the company veered off the runway during a landing, resulting in extensive damage to the aircraft rendering it inoperable and beyond repair. The insurance company has also accepted the aircraft as a total loss and accordingly paid the full insurance claim.
Now, the subsidiary, Taal Tech is the only revenue generating company, Taal Enterprise has zero business, that’s why both of these will be merged and made single entity.
Hitesh portfolio (19-03-2024)
Hitesh Sir, your views on HCC? Is the breakout intact or the price action seems like a breakdown? Also, Company has come up rights issue and every few years it’s raising equity capital to support its growth? Any views on the same?
