@Lakshmi_Narasimhan_B Are you not worried about Hindustan Zinc? Shady promoter and hardly 5% freefloat after promoter+Govt holding? Its going like rocket…isnt it scary?
Posts in category Value Pickr
IDFC First Bank Limited (29-05-2024)
If I remember correctly, in the past, they would get the board’s approval for equity dilution very much ahead of time. I expect the fundraising to happen towards the end of the FY unless there is an urgent need for capital.
Opportunities in Holding Companies (29-05-2024)
The value per share now stands at 33,000. But the current price is stagnant and available at a discount of 85%. I think the operators are playing a game here and continuously suppressing the market price.
Protean EGov Technologies Ltd – A Play on the ONDC, Digital Policies (29-05-2024)
Pls update on ONDC prospects for Protean.
Protean EGov Technologies Ltd – A Play on the ONDC, Digital Policies (28-05-2024)
Q4 Concall Updates
Business Overview:
- Protean eGov Technologies Limited is a pioneer in building digital public infrastructure for over 28 years.
- They have been a market leader in various sectors like e-governance, digital identity, and open digital ecosystems.
- The company’s business is classified into four pillars: e-governance platforms, digital identity, open digital ecosystems, and enterprise digitization.
- Sees themselves in a sweet spot due to the continued momentum in the Digital India story.
- Core businesses have strong growth prospects and plenty of room for growth.
- New lines of business like data stack, open digital ecosystems, cloud, and cybersecurity are being developed to complement and strengthen the existing business.
Financial Performance FY24:
- Revenues grew by 19%, led by double-digit growth across all four business verticals.
- Tax services business grew by 12% year-on-year.
- PAN card issuance crossed 5 crores compared to 4.1 crores in the previous year.
- Pension services reported a 14% growth with more than 1.37 crore accounts opened.
- Identity services showed a staggering 62% growth driven by rapid adoption of digital payments and increasing penetration of digital processing.
- Profit after tax was INR 97 crore, down 9% year-on-year due to investments in new business verticals and provisioning for sovereign debt.
- Consolidated revenue from operations stood at INR 882 crore, growing by 19% year-on-year.
- Adjusted EBITDA was INR 196 crore, reflecting 11% growth year-on-year.
- Balance sheet position remains strong with cash and cash equivalents of over INR 700 crore.
- Actively seeking inorganic growth opportunities to maximize returns to shareholders.
New Business Verticals and Developments:
- The company expanded into agri and education & skilling sectors under open digital ecosystems.
- Introduced core agri-stack and open network for education and skill transformation.
- Launched RISE with Protean, a multi-sector API marketplace, and an AI-powered cKYC solution.
- Engaged with multiple countries in Africa and Southeast Asia for international expansion.
- Developing new lines of business such as data stack, open digital ecosystems, cloud, and cybersecurity.
- Strong focus on the Digital India story and leveraging the India DPI framework for global opportunities.
Market Opportunities:
- Global markets are showing interest in the India DPI story.
- Interest in the India DPI framework by other countries to build their own DPIs.
Outlook:
- Looking forward to a good FY’25.
- Positive trend in all areas of the business.
Challenges and Risks:
- Provisioning for sovereign debt impacting profitability, but expected to recover over the next two years.
- Investments in new business verticals impacting margins in the short term, with a payback period of 18-24 months.
- No specific challenges or headwinds mentioned by the management.
- No mention of potential risks or concerns during the conference call.
Future Growth Expectations:
- Optimistic about future growth opportunities in digital India and pioneering transformative technology at a population scale.
- Expecting significant growth in revenues from new business verticals, international expansion, and cloud services.
Nazara Technologies (28-05-2024)
Clearly in quarterly view even after three acquisitions for the year FY2024. Games and adtech revnue lagged behind. When esports did well.
In yearly view clearly we are seeing revenue drop in adtech. But gaming is almost the same.
Increasing the stakes in Next wave media private limited and new proposed acquition of pixode games limited. I hope to see a inorganic growth in gaming in the next year.
With addition kofluence. Since its paid with nazara equity shares. I am doubtful if it reflects in inorganic growth for adtech.
With cash equivalents of ~1000 crores. Only inorganic Growth can be seen ?
When bigger banks grow by 16% in revenue without any acquitions. Is gaming industry and adtech experiencing slow down ? Why organic growth is missing?
MTAR Technologies – A wager on innovation meeting economies of scale (28-05-2024)
Agreed. The worst thing is the constant revision of guidance. First it was 800 Cr for FY24, then 680 Cr, then 610 Cr while promising 900 Cr in Fy 25, now 30-35% growth in revenue which on a rev of 580 Cr would be 760 - 780 Cr for FY25 and an EBITDA margin revision to 22% coming down from 28 and then 26. Atleast have the decency to stick to a specific guidance. Last concall there was a lot of reassurance in play with claims of 900 Cr being a “conservative” figure. Now further revision in guidance! Unbelievable.
Walchandnagar Industries | Return of a Golden Era (28-05-2024)
The result is not that bad at all. Without the very large one time income skewing the numbers , it’s the first quarter in many years when they have lost less than a rupee per share .
While this result may not attract new investors because they are still not in black, there are many things to please existing ones .
- Reduced interest cost by 2 crores or so and cash balance 55 crores in hand suggesting further debt reduction possible.
- Point no. 7 in small saying substantial portion of assets fully depreciated.
Disc. Invested around these levels recently