https://twitter.com/ValueSenseIndia/status/1696103608134041766?s=20
This twitter post covers some points discussed in the AGM. I hope folks who attended the AGM may please share their notes.
Posts in category Value Pickr
Kama Holdings Limited (30-08-2023)
discount has reduced significantly in last few days, any trigger? only when I got out last week 
blue line – SRF
disclosure: no current holding
P.E. Analytics Ltd (PROPEQUITY) – Another Data Analytics Platform for Real Estate Players (30-08-2023)
Something is cooking in this counter. Its a pity there is so little information coming either from the company or investors
ADF FOOD LTD – FMCG Company for Next Decade (30-08-2023)
Q1 concall notes
- Increase in margin due to increased efficiencies, softening in rm & freight costs
- New product launches like frozen curries like palak paneer for food service in restaurants, chole, dal lakhn ii, ghee : 500g, 1 kg, 2 kg
- Large cold storage capacity in New Jersey, faster fulfillment
- Ashoka growing at 40% in q1. 33% cagr. 200 cr
- Received listing nods from 3 discounters, 15 cues spread across uk, usa
- Standalone 17% growth
- Capacity utilisation in us warehouse: up & running last week. At Max cap we can do 10 containers. Full capacity utilisation right now.
- Margins : Q3, q4 have higher margins. Q1 low demand : people travel. Consol 18-22% type margins
- Capex : 50 cr stage 1, 30 cr stage 2 in fy24 & fy25. Greenfield project in Surat. 250 cr revenue. 3x asset turn.
- Aksa capital : demand is robust. Can maintain 20% growth rate at consol level
- Supplying to Walmart Canada since few years. Supplying to other large retailers too.
- Costco relationship trying to develop
- Got 2 large retailers in uk. 350 stores
- Talks going on with large retailers in usa. Ready by Q3 of this year
- 1.5 cr pli benefits in this Q
- Freight is 7-8% cost in standalone. 7% can remain for the year. Bottoming out already
- Other expenses include many heads. Some are fixed costs. Lot of focus on launch we are doing. Certain expenses we incurred for testing , presentation. Investment for future sales growth
- Sales mix : aata, rice were there in last year in distribution. Margins were high. Product mix is reason for low margin in distribution biz. 9-10% is steady state ebit margins in distribution biz. Unilever biz is negligible now
- Consol & india & adf food usa losses are in the subsidiary
- Kanav garg : garg advisors. B2B fell. All our brands grew from fy21 to fy23. B2B can also come.back next year. They were sitting on lot of inventory
- Distribution: really helped grow our own brands. Utilizing distribution to grow own brand. We are in investment phase. Fixed costs high. Margins can increase after the sales increases in distribution biz
- Pasta paste & sauces are also in same range as other products
- Promoter pledged share holding. 8-10%. This was pledged last year. 5% of total shareholding. Raising funds for prescription of preferential share warrants. Soul brand doing well in Ahmedabad. Market karna chahiye
- It’s present on big basket, Amazon
- 50 cr spent in fy24 & fy25. Phase 2 after we start selling products from phase 1
- 1 more capex. Adjoining plot we have bought. Freezer capacity. State of art cold storage
- Brownfield is faster to ramp. 12-18 m to set up Greenfield project
- 30% debt. 70% from equity.
- Teleric foods markets soul brand
- Accotera , patanjali contract is for 5 years
- Process in research: sales team in all markets. They go to market.daily. Get feedback from distributor
- Middle East brands camil, aeroplane growing at 20% every year
- Looking at acquisitions and have evaluated middle East too
- 700 store , 400 store in uk for large retailers. Launch in 450 stores, 170 stores
- Standalone 25% cagr, 15% cagr in distribution, consol 20% cagr
Disclaimer: Studying, have a tracking position
Haldyn Glass Gujrat Ltd (30-08-2023)
Directorate General of Trade Remedies (#DGTR) recommends Anti-dumping Duty (ADD) on imports of toughened glass, duty for 5 years on toughened glass imports from #China , says Commerce Ministry.
It’s recommendation and not yet implemented.
https://twitter.com/CNBCTV18Live/status/1696710799505694754?t=ILZOPE5DziiTm7eOfpKpHg&s=19
Kalpesh’s Portfolio (30-08-2023)
But would not that has an opportunity cost attached to it which could become significant in a bull market kind of scenario
Piramal Enterprises Ltd (30-08-2023)
Very good analysis. Piramal was always good in making presentations and providing long winded explanations during concalls (mainly by Mr. Jijina) …the problem is with their execution. Street is concerned about lack of transparency in the past and their reluctance to accept (and apologize) their multiple mistakes :- 
They need to start showing consistent results before market can trust them. They need to let their results speak for themselves. Then only the stock can regain its past glory.
Kotak Mahindra Bank – Low Cost Liability Banking Franchise (30-08-2023)
Quite interesting words by Mr Uday Kotak from annual report 2022-23
Shakti Pumps – solar shakti (power)! (30-08-2023)
I have done some analysis of Vendors selected under KUSUM 3.0 scheme which may be helpful to the group:
- Alpex Solar Pvt Ltd.
(No Pump/Motor manufacturing capacity.)
Alpex is a significant global player in the manufacture highly specialized high power photovoltaic modules and solar systems which are not only world class but also most cost effective. With state-of-the-art technology and highly skilled manpower, we strive to be the best in the Industry.
- Australian Premium Solar India Pvt Ltd
(No Pump/Motor manufacturing capacity.)
Indigenous Solar Solutions Provider –Global Expertise for Local Needs
With unflinching support for the “Make In India” campaign launched by the Government of India, APS India has the only mission of making India a true solar leader through the development of indigenous solar products and solutions.
Founded in 2013, APS India strives to become an independent manufacturer, seller, and innovator within the Indian solar sector. Our products are backed by our ongoing investments in R&D and are designed to offer world-class solutions across segments.
Besides helping commercial and residential sectors shift to solar through our indigenous product range, we work to preserve the world that’s grappling with evident climate change and environmental concerns. Our beliefs and research give us the vision to believe that solar power is the only feasible alternative to India’s current dependency on coal and fossil fuels.
Global Expertise for Local Benefits – That’s the team’s motto at APS India.
- AVI Appliances Pvt. Ltd.
https://www.avi-products.com/
AVI APPLIANCES PVT LTD.
(No Pump/Motor manufacturing capacity.)
We want to provide green solutions to people since we believe that they should be able to save and produce their own electricity at affordable costs and help protect the earth by using renewable solar energy.
AVI, a pioneering EPC (Engineering Procurement and Commissioning) company has 25+ years of experience and expertise in designing, manufacturing, erection, testing, commissioning and service of power electronics and solar solutions.
We aspire to equip our customers with excellent quality at competitive prices for various end to end solar solutions like residential solar rooftop, industrial solar plant, ground mounted solar plant, solar pumping solution, solar street lighting, solar home lighting etc. products customized and designed to your needs and available at various locations throughout India.
- C.R.I. Pumps Private Limited (Reputed player with focus in solar)
Commitment Reliability Innovation – C.R.I. ranks high among the world’s fastest-growing fluid management solution providers with a wide global presence. C.R.I. offers Pumps, Motors, Valves, IoT Drives & Controllers, Pipes, Wires & Cables, and Solar Pumping Systems. C.R.I. Group has a diversified range of 9,000+ products in its portfolio and is among the few to manufacture 100 percent stainless steel pumps in the world. The company has 21+ manufacturing facilities across the globe and has made acquisitions in U.K. and Italy. The R&D division – “Fludyn Advanced Technology Centre” is recognized by the Ministry of Science & Technology, Govt of India. India’s top exporter; winner of EEPC (Engineering Export Promotion Council) award 16 times and also won the National Energy Conservation (NEC) award from the Government of India for 8 times.
- Crompton Greaves Consumer Electricals Ltd
Not a focussed player in Pumps
- Duke Plasto Technique Private Limited
(No Pump/Motor manufacturing capacity.)
We, Duke Pumps started in 1989, Since then we are being a symbol of Trust & Quality in providing pumping solutions to major sectors like Agriculture, Residential, commercial, Industries and waste water by our world-class Submersible, Surface and Solar pumps, motors and accessories.
With the noble vision of establishing its name, known for Trust & Quality across the globe, the company’s Principles & Policies are carefully framed & implemented.
Being one of the best companies, the company often self-exercises to result in exponential growth in key result areas by establishing its own short-term mottos. With our latest motto of “New Duke for New Era” the company rejuvenates and strengthens itself in all the key areas like Innovative products, Infrastructures, Quality, Human resources, etc.,
- Dynamech Electropower Private Limited
(No Pump/Motor manufacturing capacity.)
https://www.dynamechelectropower.com/about.php
Dynamech Electropower Pvt Ltd has been established as a manufacturer of Convectional Distribution and Power Transformer Company. Our traditional business model is based on provide the conversion of High Voltage into Low Voltage through Power and Distribution Transformer. Based on the decision of the company to diversify our properties. The revenues of our company are expected to be nearly 50 Cr per year. There is a great need for certified products. In addition to manufacturing of Conventional Power and Distribution Transformer, the company works in the Solar Power Pack and Solar Water Pumping System and supply DG Sets.
- Ecozen Solutions Pvt Ltd
No Pump/Motor manufacturing capacity.
Enabling Farm-to-Fork Value Chain for Perishables
- Ethos Power Private Limited
(No Pump/Motor manufacturing capacity.)
- Everrenew Energy Private Limited
(No Pump/Motor manufacturing capacity.)
- GK Energy Marketers Private Limited
(No Pump/Motor manufacturing capacity.)
G K Energy Marketers Pvt Ltd (GKEMPL) are pioneer in manufacturing and system integrator of Renewable energy products, Solar Power,Energy Efficiency product & projects.
GKEMPL is approved Manufacturer/ / channel partner of Solar Thermal & Solar Photovoltaic (Power & Lighting) products , projects manager to Ministry of New & Renewable Energy ( MNRE ), United Nations Development Programme ( UNDP ) – Global Environment Facility ( GEF ) Market Transformation and Strengthening Initiatives: India Country Program
GKEMPL is empanelled with Bureau of Energy Efficiency (BEE – Ministry of Power) as ESCO to promote energy efficient products & projects under ESCO (Guaranteed Savings, Shared Saving, Lease Rental & BOOT models ).
- Himalayan Solar Private Limited
(No Pump/Motor manufacturing capacity.)
Himalayan Solar is leading solar PV module manufacturer and comprehensive EPC solution provider in the north Indian region. We have an ultra-modern, fully automatic, State-of-the-art, advanced technology driven, clean & dust free robotic world class Solar PV module manufacturing facility with an installed capacity of 50 MW per annum. To produce best quality modules with highest efficiency, we have advanced and high quality production machinery from globally acclaimed Tier 1 companies like Mondragon Assembly, Spain.
We manufacture Solar modules in the range of 3Wp to 340Wp using world’s best premier quality raw materials. Our modules have successfully passed all the stringent quality tests at TUV Rhineland, one of the reputed German Laboratories having testing facilities in India also. Our modules are certified for IEC61215 and IEC61730 Part-1 & 2. Our modules are marked for “CE” certification and tested at ERTL as per STQC/MNRE standards for projects initiated under the policy of Government of India. We are also ISO 9001-2015 and 14001-2015 certified company. We are well known for our commitment towards excellence, innovation & quality with technical capability to deliver highest quality Solar PV Modules within a stipulated time frame.
We have expertise in Design, Engineering, Manufacturing, Supply, Erection, Installation, Testing, Commissioning, Operation and Maintenance of Solar PV Modules, MW scale Solar Power Projects, Grid Connected/Hybrid/Off Grid Roof Top Solar (RTS) Power Plant, Canal based Solar Power Projects, Solar Power Packs, Solar Street Lighting Systems, Solar Home Systems, Solar Home lighting Systems, Solar lantern, Solar Charge controller for different applications, Solar Controller/ Inverter/PCU, Solar Water Pumping Systems, Solar Pump Controller, Solar Water Heating Systems, Other Solar PV and thermal based products, AC & DC LED lights, Solar Domes etc.
Mission
To become a key player among who are making clean and green environment for human beings.
Vision
Solar PV modules as Power Solution for a Shining Future
- Kosol Energie Pvt Ltd.
KOSOL Energie is an ISO 9001:2015, 14001:2015 & 45001:2018 certified leading organization in India, where we innovate to create and empower the world with functional products to harness and employ clean and green solar energy.
KOSOL provides solutions for solar photovoltaic systems and solar heating water under one roof with in-house R&D facility. Exceeding the high standards and commitment to excellence, our solar products are accepted in domestic as well as overseas markets like in US, Mexico, Africa, Middle East.
(No Pump/Motor manufacturing capacity.)
-
KSB Ltd.
Reputed player with full capabilities but not focussed -
Laxmi Agency
Unknown Player (No Pump/Motor manufacturing capacity.)
- Mira Energy Resources Private Limited
Unknown Player (No Pump/Motor manufacturing capacity.)
- Oneindig Technologies Private Limited
Unknown Player (No Pump/Motor manufacturing capacity.)
- Oswal Pumps Limited
Reputed player with focus in Haryana.
- PCI Wires Pvt Ltd
(No Pump/Motor manufacturing capacity.)
- Premier Energies Limited
https://www.premierenergies.com/
(No Pump/Motor manufacturing capacity.)
ABOUT US
THE PREMIER NAME IN SUSTAINABLE ENERGY SOLUTIONS FOR
OVER 28 YEARS
Welcome to Premier Energies, the largest integrated solar manufacturer in Southern India and second largest in India. With an influential presence and expertise of over 28 years in the solar industry, Premier Energies is revered for its commitment towards the development of sustainable energy solutions to build a better tomorrow for the planet and its inhabitants.
- PV Power Technologies Pvt Ltd
(No Pump/Motor manufacturing capacity.)
- Rotomag Motors & Controls Pvt. Ltd
Reputed Player with focus in Solar
- Shakti Pumps India Limited
Reputed Player with full focus and integration in Solar Pump.
- Span Pumps Private Limited
Reputed small Player with focus in Solar
So there are very few companies with capacity for manufacturing Pumps & Motors and rest of them are mainly EPC companies. However, as already advised Shakti is the only player integrated focused player with in house capabilities of manufacturing all components (except Solar Panel)for solar pump and had been eyeing for this opportunity for the last 5 to 6 years and hence most likely to reap benefits if the KUSUM project is fully implemented.
As application has already been called from the farmers in Maharashtra & Haryana and beneficiaries selected who have also deposited the token amount, I don’t think Government can afford delay in an election year. Govt is already in election mode which is evident from reduction in Gas cylinder prices by Rs 200 for general public and Rs 400 overall benefit under Ujjawala scheme.