Friends,

After going thro the above analysis , few points stand out

1. Lack of pricing power
2. Heavy competition
3. Slow move to Premium
   etc

A few other from my notes notes:

• Promoters have increased their holdings a bit during 2023
• Next 2 yrs capex already built – current util 65% only
• Valuation staying high even through these down times.
• No of pairs sold is reducing, OPM reducing.
• My assessment of management over the few calls is that they are very reluctant on price increase (risk of losing shelf space and visibility to customer)

Am thinking what are the triggers for upside – Do any of you see any ideas or found something that can be potential for upside
Capex/Volume?
Premiumization
Any issues getting resolved e-.g. inventory, raw material, Systems implementation
Any potential for optimization/efficiency-margin improvements?
Whats the scope for growth – is it linear (based on population and geo expansion ) or any other triggers?

Thanks for your thoughts in advance.

Disclosure: Invested in parts from last 3 yrs starting from around 650 to 1000+. Avg 900. Almost flat.

In the recent concall, Dr. Kancharla says that an occupancy of 55% is what they aim for at the Company level, considering the facilities of ICU, Isolation wards etc have to be kept restricted and they cannot keep child patients where the women patients are kept.

It is understandable from logistics point of view.

Now my question is, if I know out of 100 beds, I am only looking to use 55-60 beds on an average then why should I keep 100 beds at all? I can use the space to accomodate 80 beds, per se, leaving me with more area and better patient service. This way I save on capex and maintenance as well.

He also says that cannibalisation and competition from smaller sized hospitals is also there. So shouldn’t this also prompt them to not have too many beds in a single facility?

Looking for guidance on these aspects, as Hospital space is not that well known to me!

@Mayank14 thanks for writing in.
Rategain has moved from low of 660 to 850 in the past 3 months so almost 20-25% return. Hence, post results you might be seeing a muted reaction.

I have shared my scenario on Rategain here: Rategain – Fast Growing SaaS Leader – #31 by joinjp2003. You can note that based on management guidance PAT CAGR can be in 35 to 40% range.

Now as a investor I shall have to take call whether this is priced in or should I give 50 PE or 60PE on FY27 numbers. I am comfortable with PEG of 2 while at PEG of 3 i get nervous.

Disclosure: invested and trasacted in last 30 days. I am in trimming mode as its getting big in my portfolio.

Disclaimer: I am not a financial advisor and nor a SEBI registered Analyst. The content shared here is only for learning purpose. All the names mentioned here are for example purpose. I may buy more, exit or partly sell the stock/bonds without any prior intimation.

Super Apps are all-in-one ecosystem for various aspects of daily life. Banking/Payments being a major one.

While technically separate entities, One97 Communications and Paytm Payment Bank shared a close relationship with significant overlap in ownership, operations, and governance

One97 Communications leveraged Paytm Payment Bank for certain wallet functionalities, like wallet top-ups and KYC verification.

The disruption of certain Paytm Payments Bank services (e.g., direct wallet top-ups) could lead to decreased wallet usage, indirectly impacting other revenue streams like commissions from merchants and payments.

I can’t quantify the revenue impact at the moment because it’s more than just numbers, its reputational, given all the negative headlines.

Interview with the Founder and CEO of WTi cabs.

IPO Talk with WTi Cabs: Exclusive Interview with Founder & CEO Mr. Ashok Vashist | SMEmitra