This business has very low margin and only 50cr investment they are doing. Just a assembly business. High volume low margin business.
Valuations should lower

Can Apex really get the benefit of raising shrimp prices ? Management was highlighting the issues of procuring the raw material in concall (due to high prices). Also they dont have owned farms. They need to rely completely on farmers to procure the shrimp. Any idea if there is any shrinkage in the area of shrimp cultivation due to the issues the sector has seen in last few years ?

@aakash11agarwal The index is updated manually only. I had extended the value more for copying the formula for 50 and 200DMA.
Index values are obtained from https://www.niftyindices.com/reports/historical-data
On the left you have a drop down menu where you can choose Equity, whatever index you want and the date range. The values will come up on the right. I then download the csv file and copy / paste them onto the sheet.

I hope the lookback date you have put is a typo as it should be 24/11/2023 and not 01/12/2023.

Virtually the entire list is matching; small differences in the ranking and with respect to KESORAMIND and IIFLSEC. I will post my list and you can see the differences.

Answer on point by point

1. They have acquired two business in the last one year and IData gross margin on per application is higher than BLS. Plus, organically per application was increased
2. There is 3 Major player in this industry, VFS Global 50% , BLS International 15-16%, TLS 20% market share …so some kind of entry barriers in this industry
3. Acquistion cost higher than Book value. P/BV is higher
   read Temasek to pick up 18% stake in VFS Global for $950 mn: Report
   my post dated 18.10.2024
4. Unaware, but good question
5. Already separate entity with 51% holding. They have different plan like enter into NBFC market in the future (My Assumption)
6. Good question, ask in the next physical / con call
7. They delivered in the past and its good for investors to track.
8. Unaware

You can read Shankar Nath post on this company. To get fair idea of the business and working style

Hey, Rajesh I liked your point , where are we in cycle for hotel cycle… I thought of comparing the current cycle with 2003 to 2008 cycle and found that we are in the midway and valuations of the hotel stocks have already peaked while the earnings may peak in next 8 to 10 quarters… I have made a detailed video on it, you can find that on my YT channel (link in profile).