Recently listed Electronics companies
These are in vogue as Taiwan-China-Japan narratives are being heard a lot
They are in Capex phase
They have bulging order books
They are expanding and recruiting and exploring partners and JV’s and such
Posts in category Value Pickr
NCC: Extremely undervalued (09-11-2023)
Operationally Great Quarter it seems (After adjusting for One off charges & credits):
Radiant Cash Management Services – Asset Light Play On Cash Logistics (09-11-2023)
Radiant Cash Management Services Ltd Q2 FY24 Earnings Concall
https://www.bseindia.com/xml-data/corpfiling/AttachLive/8e511b79-ab80-42a2-bf66-1611a2b570d7.pdf
Some key points/comments basis the concall of Radiant and CMS:-
- As per Radiant mgmt, the revenue de-growth this quarter is mainly because of change in price mechanism from fixed to volume-based for some nbfcs and retail customers and they expect q3 and q4 to be better – kind of expected considering the slowdown in rural economy but the volume based pricing seems a good move
- Mgmt expects to clock around 20% topline growth yoy from fy25 onwards
- With the low topline and some incremental costs for DBJ segment, the operating deleverage had its fair share in bringing down the margins
- The cash movement has increased qoq (5%) and yoy. Also. no clients were lost due to pricing pressure, competition etc.
- The recent acquisition of acemoney should bode well for Radiant strategically since it not only opens up serving co-operative societies and banks in the hinterlands but also helps leverage the phydigital and the BC model of operation (inline with the original philosophy of being asset light)
- More importantly, with this partnership, I see Radiant getting into the world of neobanking (Bank As A Service) whereas CMS just remains as ATM As A Service as evidenced with its partnership with a Korean company for equipment manufacturing
- Moreover, basis my personal experience with fintechs, I tend to agree with Radiant mgmt on the synergies possible across distribution and collection through the phydigital mode that should augur well to replicate Acemoney’s business across the geography
- Furthermore, Rajiv (CMS) now looks to focus on retail cash management and also shift towards being more asset light – he wants to be selective in BLA segment and focus more on cash logistics and RMS segments, cites of competition only in the cash transit business with growth opportunities in retail cash mgmt to lead in the coming years – largely volume based with some pricing
Pricol limited – OEM automotive (09-11-2023)
Attended Pricol conf call. It seems participation was very low as I got opportunity to ask questions 3 times in a 30 mins call. Key points discussed- 1. Slower growth this quarter as they lost some EV sales, however EV sales have started picking up and they expect better growth in H2. 2. Still maintain guidance of 3600 cr of organic revenue by FY26. 3. Margin will steadily increase 0.3-0.4% every quarter to reach margin of 13.5% in next 2 years. 4. Creating a capacity of 3800-4000 cr with 600 cr of capex to be completed by FY25.
Manappuram Finance (09-11-2023)
“HDFC bank enabling 200-300 branches every quarter for gold loans. They have been pushing gold loans majorly”
Caplin Point Laboratories (09-11-2023)
Strong statement on presentation :
Commenting on the performance, Mr. C.C. Paarthipan, Chairman said:
“We have multiple levers of high quality and consistent growth at Caplin, with the major one being our growth in existing markets in Latin America. This is evidenced by the fact that Q2 FY24 revenue of Rs.430 Cr and PAT of Rs.116 Cr are higher than the FY17 full year revenue (Rs.412 Cr) and PAT (Rs.96 Cr) respectively. Our US business also continues this pattern, as our H1FY24 revenue is higher than
our FY22 full year revenue. With our sharp focus towards enhancing our presence in the larger markets such as US, Mexico and Chile, we expect the next few years to be crucial and exciting for the company.Our initiatives into backward integration (API) and forward integration (front end presence) will adequately support the company’s prospects for top and bottom line growth, with stable cashflows.
We remain steadfast in our commitment to driving sustainable growth with benchmark cashflows and robust bottom line.
TCPL Packaging Ltd. — Statistical Facts & Figures — Views Invited (09-11-2023)
TCPL has achieved the highest revenue run-rate in its history in the quarter ended September 30,2023
TCPL has also successfully commissioned a new advanced offset printing line, complemented by modern ancillary equipment at the Haridwar facility.
Neuland Laboratories Limited – Transformation towards niche APIs? (09-11-2023)
I usually do a reverse DCF to get an appx sense
To make 5yr cagr of 18%, earnings need to grow at 20%, assuming exit multiple of 25 which is not outrageous to me
!
Pidilite Industry : Fevicol ka Jod (09-11-2023)
Is it not indirect admission that pidilite cannot grow on its own core business?
Iris Business Services – Emerging SAAS Microcap (09-11-2023)
Snippets from the Investor presentation Q2 FY24
Financial Performance : Descent growth albeit on a low base and low absolute value.
What I am enamored by is the quality of the management 
Segment wise performance :
Thanks @Lynch for bringing this company to the notice . Nice find.
Disc : I have started a tracking position in this company. Not very sure how Large Language AI models might disrupt their business though , since they are into XBRL compliance and automating disclosures .