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Posts in category Value Pickr
NCL Industries – Resumption of growth? (30-10-2015)
Yes I do know that it is not a quarterly event Maybe should have framed the question properly
I think the interview you are referring to was after Q1 results where the mgmt. said that Q1 numbers were impacted due to maintenance activities carried out in Q1.
Please do update if you find the source where it says that maintenance was carried out in Q2.
Thanks.
Kitex Garments Limited (30-10-2015)
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Vinati Organics (30-10-2015)
Thanks Vivek for providing the updates.
I missed earlier on picking up this great company earlier. I believe here lies an opportunity to pick this for long term now that there is some selling pressure. The 200Cr expansion could be a good risk reward once and if it materializes. Considering the previous experience of the management in reducing the debt they should be able to work this out well.
Disc - Not invested and tracking closely.
NCL Industries – Resumption of growth? (30-10-2015)
Hey Haresh,
I have read about the maintenance in an interview transcript somewhere. I'll try and find it out when I'm free.
BTW, the maintenance is not a quarterly event
Kitex Garments Limited (30-10-2015)
Over TPP - Mr. Sabu touched Vietnam and Bangladesh. Can not understand why he did not say anything about Gimmell - singapore based competitor - the 2nd largest infant wear manufacturer. I understand vietnam and Bangladesh can not stand the specialization required. But gimell? Gimell supplies to Nike. Of course it has the finest qualities in the world.
Mgmt is crazy over the cash issue...I doubt the Corporate governance of the company.
I agree - brand launching is not that easy thing to do.
Over listing of KCL - it might be a good step - getting a clear picture of the valuations of the company.
Stay away as of now. It is logical to invest in page rather than investing here.
Disc: Not invested.
Kitex Garments Limited (30-10-2015)
Another thing which I found confusing was that when asked about Lamaze share of biz between the listed entity and pvt. entity.
Mr. Sabu said that profits will be shared 50:50. The gentleman who asked this question then said that (not the exact words) you mean to say that sales/revenues would be 50:50, then Mr. Sabu said no the profits would be shared 50:50.
I find the above answer also confusing. I mean I don't want the listed entity to end up producing 60% of the Lamaze orders and getting just 50% share in the profits. Maybe Mr.Sabu didn't understand the question properly and benefit of doubt should be given. But still none the less not a clear answer.
Cheers.
Kitex Garments Limited (30-10-2015)
I am in agreement with the reservations raised above vis-a-vis currency, TPP, etc.,.
I was in queue but didn't get chance to ask questions (maybe a preference for institutions/brokers above the retail investors). Most of my questions were covered but I wanted to grill further on the TPP issue and wanted to ask about pledging point raised above earlier.
Some analyst did ask about 3% currency gap whereas interest rate at present paid by company at 9%. Mgmt. didn't answer that question clearly at all and kept repeating dollar INR to come at Rs. 67. Neither did the CFO pitch in on this query and it was Mr. Sabu who attended this query as well.
On TPP front to, the same approach as above. I mean comeon what do you mean by special garment? Why is kidswear a special garment and why wouldn't it be covered under TPP?
Answers around dividend payout were not straight forward either, however when asked for the second time, mr. Sabu did say that they will come out with a Dividend Payout policy.
I can understand that the mgmt's communication skills may not be the best but the logic and reasoning could surely be explained with whatever communication skills that they have got.
I am still invested (6% of portfolio previously 10-11%) as I had earlier sold to maintain certain allocation levels plus for new purchases and have bought at much lower levels. Would continue to hold as giving the mgmt. benefit of doubt coz of couple of other factors that are visible and also 'coz I like the business.
Cheers.
Kitex Garments Limited (30-10-2015)
Excellent note and covers, factually, every aspect of the call.
Ajanta Pharma (30-10-2015)
http://www.bseindia.com/xml-data/corpfiling/AttachLive/5E6C5DB3_D071_4F86_AD74_D37DCC57ACDC_131506.pdf
Q2 results came out...clockwork like execution, as per my read....but as usual, there is some reason for market to sneeze
India numbers are slightly less...so what..with all the bonhomie with Africa, this is the place to be
PS - invested..views are biased