Next Conference Call, with the new Management Team, will be held on 09 Nov 2023 (Thursday).

If someone can take short notes and post here, it would be great.

Thank you in advance.

Also it seems that indeed, Mr. Garg will be retained in capacity of Senior Advisor, which is icing on the cake.

Good report on protein hydrolysate market, nice to see Titan biotech having a significant global market share in this niche market.

Disclosure: Not invested (no transactions in last-30 days)

Hi @Chins , Great write up on this company.

I have few questions on the numbers: If anyone can help here:

Design led sourcing segment:

Should One think it has happened because of JV turnaround of margins from negative to 4 – 5% margins ? 80 – 300cr pat in last 3 years ? Design led sourcing PBT are sustainable that means this 300cr PAT will be sustainable going forward ?

Coming to Brand Management and SAAS:

Brand Management → As you said it is 250-300CR EBITDA Opportunity.

SAAS → 200 cr PAT Annually.

How this numbers are achievable ?

For example: Attaching the below screenshot:

It says potential revenue of 350 – 450cr annually and PBT of 18-20% i.e 70 – 100 CR PBT.

Likewise, on Ted Baker monthly revenue is shown below:

Roughly if I take up monthly 50-60cr so annually it comes around: 350-400cr.
and PBT as – 35cr.

Based on current deals: SAAS and Ted baker deal ~ New offerings it is on annualised basis PBT of => 35 + 70cr => 100cr – 120cr PBT Annually.

Above are for Fy24/25/26 annually for current order wins.

For long term horizon: (Not looking on QoQ)

On 500cr-1000cr PAT in next 3 to 5 years.

According to me, this can be achieved with more deals. Current deals won’t make them achieve 1000cr PAT and their top 10 verticals needs to be scaled up. That needs to be seen. (More revenue from poetic gem etc…)

Huge respect for Pallak to create PDS like platform. His journey has been inspiring. Looking forward as Pallak said, company is at inflection point.

Below snapshot:

Thanks for writing the thread @Chins Your work on this has been amazing !!!

Anywhere my understanding needs to be corrected. Do correct me.

Thanks.

We need to give time to Aavas Housing. There are two challenges

A) New Management
B) Lack of systems in place (specifically IT system) , this is evident from the fact that Turnaround time is approx 10 days .

Both of these challenges are getting addressed.

What makes Aavas an elusive HFC , vis a vis it’s competitors is it’s Pan India presence and outstanding underwriting.

In fact, in the management call , Sachin sir has said that both the issues will get addressed.

Tech implementation would be completed by FY24 . This will make the complete functions seamless, this reducing the TAT. Company has engaged consultants of repute to solve this.

Guidance

A) Medium term -20 -25 %AUM growth and margin 5 percent plus.

B) LONG TERM DECADAL AUM -1LAC CR (Refer to Page 8 of Annual Report)

I am really very positive on Aavas .