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I did some research on Evans Electric and found these problems

1. 11Cr is in UTI arbitrage fund ( significant portion of reserves in balance sheet and this will not even grow at 6% , they could have put in at least index fund )
2. FY23-24 around 5Cr Trade receivable with age less than 6months – highest in history I am doubtful about complete recover .
3. 5Cr commission on sales is huge around 33% of top line ( no explaoination as to who takes this and is seen every year )
4. There is no successor Planning ( current promoters are in 70s)
5. Purchase can be made only in lots ( each lot is 500 stocks ) as its a BSE SME , low liquidity
6. Growth seen in the near past in not promissing further growth, it could be one off thing.

Thanks a lot for your comment.

I would ideally like to have more weightage in equity as you mentioned, where as my cash positions have more weight as of now. I am waiting to get good market opportunities to enter.

Also, some cash are kept for immediate spending.

Incorporated in 2012, Unicommerce eSolutions Ltd is an e-commerce enablement software as a service, which is a SaaS platform in the transaction processing and order fulfillment layer. The company enables end-to-end management of e-commerce operations for brands, sellers, and logistics service provider firms.
As a consumer, when you order online, you see the website on which you order and the delivery person who comes to your doorstep, whatever happens between pressing the buy button and the product being delivered to your home is powered by Unicommerce.They are the behind-the-scenes backend that powers operations and smooth customer experience for a brand or a seller.
Unicommerce’s suite of solutions act as a nerve center for e-commerce fulfillment operations, ensuring that the orders received are processed correctly, efficiently, and within timelines as per the client needs.

• serves a diverse base of 3500 plus clients across many industries.

• serves D2C brands, brand aggregators, offline brands, retailers, marketplaces, logistics players, and SMBs with a comprehensive suite of SaaS products, functioning as the transaction processing layer.

• largest player in the transaction processing layer by revenue and the only profitable player among the top five competitors.

• Till the end of Q1FY25, annual transaction run rate stood at 850 million plus, enterprise clients at 850 plus and SMB clients at 2,700 plus.
  Enterprise clients account for 90% of revenues and SMB customers contribute the
  remaining 10% .

• Net revenue retention ratio from enterprise clients remains above 100%, indicating strong customer loyalty.

• Company’s vision is to become a one-stop shop for ecommerce enablement as they are increasingly seeing: brands preferring to use all the solutions under a single umbrella.

• Recently listed (Aug 2024) at 118% premium.
  IPO Details: company raised 276.5 Crs through the IPO and the entire issue is an Offer for Sale.

Business Model (CEO in sept’24 concall):

Products:

1. Warehouse and Inventory Management System (WMS) : Supports efficient warehouse operations and inventory management.
2. Multi-Channel Order Management System (OMS) : Aggregates orders across platforms, maximizing sales from a common inventory pool.
3. Omni-Channel Retail Management System (Omni-RMS): Merges online and offline sales channels for improved retail management.
4. Seller Management Panel for Marketplaces (Uniware) : Assists marketplaces in managing third-party sellers effectively.
5. Post-Order Services for Logistics Tracking and Courier Allocation (UniShip) : for order tracking and returns
6. Payment Reconciliation (UniReco) : for payment and returns reconciliation
   (UniShip and UniReco are currently in the building phase)

Financials:
Topline and profits are continuously growing with margin improvement.

ROCE : 27.7 %
Debt to equity : 0.11 (Debt ₹ 7.71 Cr)

Promoter Kunal Bahl (CEO Snapdeal) outlook:

Risks:

• faces stiff competition from both large and small players
• low entry barriers
• right now overvalued at 162 P/E

Unicommerce is well-positioned to leverage the growing e-commerce market, with a robust business model and a comprehensive suite of solutions aimed at simplifying operations for clients. The management’s confidence in future growth is backed by strategic initiatives and a focus on innovation.

Sources: Recent Presentation, Recent Concall , Screener, Website

I know that their business is so fast growing.but i want to know that how much they are able earn money.what is their ROE -5.6 just.you can earn 7% if you do bank fixed deposit .if your growth is high and ROE is low then you have to raise capital every time for your business.and margins are very low but their assets turnover is good .

So guys did I miss anything.plz tell me if I am wrong.