I am convinced about the reasons given by the management for the poor results.
They might have started the contracts in September end.
Depends upon the kind of vessel the company buys shoukd cost between 4-6crs.
Management doesn't like to carry debt on books and both the CFO and CS reiterated that the company is looking to raise QIP once the company gets good valuation.
Posts in category Value Pickr
Duke Offshore – Hidden Gem? (20-11-2015)
Cupid Ltd – Helping the world play safe! (20-11-2015)
I have read the BSE clarification provided by Cupid yesterday night and thought to myself, Mr. Garg, do not worry, this is called market re-rating. Typically re-rating will be ferocious and will be over even before people realise. This re-rating was expected after the Q2 results were announced as indicated in my earlier post that several factors are improving in company's favour.
- Re-rating is the way market recognises all the hard work the promoters have been putting in consistently and then rewards you with higher market cap.
- While the re-rating is in progress, short term players looking for quick buck will come in, typically when most of the re-rating is underway and push the stock prices up. A little bit of bad always comes with good. Long term holders must realise this and build positions based on their conviction.
- I felt pleasantly surprised that Cupid has released a statement to BSE by themselves and before exchanges probed. Very good touch.
- Any further earnings visibility and market will start discounting 1 year ahead earnings as well.
- For the re-rating to sustain, earnings visibility, promoter integrity, growth with margins oriented focus and shareholder friendliness are the pillars and I believe Cupid has these qualities.
- Cupid's Tagline, at least for African nations, should be, "Cometh the hour cometh the company!"
Disclosure: I hold Cupid and I'm biased.
BSE announcement:
Cupid Ltd has informed BSE that :
"In the interest of keeping with good corporate governance practices and to keep the public shareholders informed, we would like to clarify that the Company is not aware of the reason of this increase in the price. Further, there is no information / announcement (including impending announcement), which in our opinion, may have a bearing on the operation / performance of the Company or on the price behavior in the scrip including any price sensitive information and which are not disclosed to the Stock Exchange."
Historical P/E ratios (20-11-2015)
please put some light on how to calculate future p/e, EPS and intrinsic value of a stock as well.
Historical P/E ratios (20-11-2015)
MoneyWorks4me.com has 10 years historical P/E ratios, EV/EBIT, P/B ratios
Historical P/E ratios (20-11-2015)
(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)
Torrent Pharma Ltd (20-11-2015)
Rudra,
Its difficult to gauge what markets think in such a range bound markets. But usually once a price threshold is crossed, most of the concerns are forgotten and the mood and appetite for the stock suddenly changes.
Regarding acquisition, it might take a while for the company to narrow down a company which suits its purpose.
I feel even without acquisition, co seems on track.
MPS Ltd (20-11-2015)
Names masked as I am not sure if those ppl will like it . these are running notes - the reason why I keep it that way is to avoid my own biases - if I get the stock cal wrong, I can go back and interprept them another way and figure out what went wrong with my hypothesis.
I have some interpretations but will wait for inputs from everyone first. None of these guys have biases against or towards MPS and consequently treat these as facts to a large extent.
Inputs from a VP - biz development of a much smaller PBO (publishign services BPO)
Positioning as a full service content solutions provider is
key rather than an outsourced vendor. MPS scores well there.
Aptara – focussing on other industries such as BFSI, Pharma,
HItech and so on – BFSI – for eg., xbrl filing
Spi global is one of the larger players and they hvae the best platform and sales team
Pricing has been slashed –per page over the last few years. so key is to achieve efficiencies through volumes by doing more work processes with the same client.
MPS has strong focus on cost optimization with low value
added work being outsourced to smaller vendors. Also they had acquired a full
service company in the US
A large publisher typically works with multiple vendors like
MPS, aptara
Most of revenues comes from existing customers or large
publishers – slow cycle to get a new customer.
Publisher’s market is quite challenged – not easy to get
traction – companies look at every cost saved.
Only certain companies have scrapped projects and focusing
on optimizing their digital strategy. Challlenges like open source content,
funding and book rentals are putting pressure on these publishers Companies
have stopped producing content itself as things like book rentals, crowdsourced
content are hanging industry dynamics quite a bit
I was referring to this initiative
Market size is about $ 1 Bn –not growing - may be 2-3 %; 60% - of the work
comes to india – Philippines is next; then you have third world European
countries – like Romania, bosnia – India is the largest and won't go away for a long tme
e-learning is challenged in terms of profitability as publishers themselves are struggling to make money there.
Inputs from an ex-employee of MPS
Publishers are very conservative –
Marketing in these organizations are not very strong – very
technocrat driven.
Want to push down prices ever year;
Very labour intensive/skill intensive environment
Manual intervention needs to be brought down – figuring out
a way to take care of the changes in work flow can be an efficiency driver. its purely a function of how you can increaes billing per resource through intelligent technology intervention - so its a good CTO who differentiates one guy from another. MPS is improving but still behind SPI
Inputs from a senior guy in a large competitor
MPS Platform – overhyped - too little too late
Services – content – reinvent the content
Tap the content earlier to increase deal size form a client
For eg:
-
Author handling
Editor services
Pre-press
Post press:
Conversion
Re-purposing
Database enrichment
Content enrichment – adding photos
without these squeeze-ins, additional revenue growth is going to be difficult.
Historical P/E ratios (20-11-2015)
Equitymaster has a graph that does this for the last three years at least.
My two cents - those graphs don't mean much to find whether it is worth investing. Discounting all future cash flows to today and comparing with price - that's the real value identifier.
Duke Offshore – Hidden Gem? (20-11-2015)
I am not sure about monsoon story. Monsoon was week this year. So, why this affected more this year. As soon as qtr ended, they got the job in Oct!
How, do you feel about 6 cr reserve? Is that enough for new vessal! How much debt it need to take if not?
Thanks.
Torrent Pharma Ltd (20-11-2015)
Thanks Hitesh bhai.
I think the key trigger market is waiting for is some US based acquisition from Torrent. Given that they did not repatriate any cash from bumper US sales, and maintaining standalone debt indicates that management is keen on acquisitions.
Also, any inorganic growth would fill up the void from one off abilify sales in FY16. After Cipla and Lupin, Torrent might be next in line.