Amazing set of numbers from Cupid! Apart from the EPS growth, the return ratios going forward is likely to further re-rate the stock. The expected interim dividend too came about. The good part is that the mgt. is open n receptive to share holder inputs. There is also a possibility of the mgt. giving an interim div with every quarterly result from next year.
Cupid has truly warmed the hearts of its share holders! The stock looks to be headed higher.
Hey Pulak, will try to dig on that.
Congratulations,great job done,somebody told me when i was a boy that noble job is only medicine(to become a doctor and serve people) But now I have modified my thinking when anybody has saved many small investors losing their hard earned money,by guiding them how to invest,saving them from falling prey to gullible/fraudsters capitalists.
And best part of this selfless service to the investors is without any hope of getting any financial benefits
Many kudos, my heartiest
congratulations
Thanks Manav.
First of all, let me say that I had no intention of speaking to the MD and my only intention was to speak to the Investor Relations Officer regarding AR and dividend. So I didn't really have a list of questions when I got to know who I was speaking to.
How this actually happened is - I asked the person picking up the phone that I want to speak with the Investor Relations Officer. The line was transferred to someone I believe Manav spoke with. Not a very polished guy, speaking in crude hindi.
Then he said the company has shared both the soft and hard copies of the AR to the BSE and he doesn't know why the BSE has not uploaded the AR. Again saying that the BSE is causing the delay.
Starting praising the management and saying they don't take a single rupee as salary (which I didn't believe until I saw the AR and I would love to speak to the MD again on this topic 
)
Regarding Q2 results, he said he doesn't know when they'll be announced. He took my address details for sending the AR and said I'll receive it soon.
Few minutes later, I received a call from the company and they wanted to confirm my details for the AR.
I confirmed my details (good thing because the other person had made a mistake in my address) and then started asking about the dividend payment issue again as I felt I could communicate with this guy a lot better,
He accepted the delay in dividend payment saying this is the first time they are doing a ECS and that is causing the delay. As I said earlier, he sounded apologetic about the delay.
Then he asked me how many shares of the company I hold? (Now I'm not sure if that is appropriate or not but I felt he shouldn't have asked that)
I asked him if he's the Investor Relations Officer (IRO) of the company or the person who I spoke with earlier? He said he's the MD and the other guy I spoke with is a operational worker and doesn't know much and that they only submitted the hard copy of the AR to BSE.
Anyway, I told him I liked their company and hold XYZ shares and would like to 3-4x my holding based on their future performance. To try and talk about the performance he talked about the poor rural demand in current environment (I'm actually forgetting if he mentioned the poor monsoon as a reason because I remember asking him about the drought for the last 2 years)
On future prospects - He only talked about the immediate future saying H2 is generally better because of Navratri and Diwali and expected demand to pick up.
I asked him about the Q2 results announcement and he said they'll be announced on Thursday. So may be the hard copy of it has been sent to the BSE and have not been uploaded on their site yet. He also said that I can speak to him anytime if I have any questions.
Overall he seemed like an honest, humble and down to earth guy in his manner of speaking. I felt confident with the way he said that I could speak to him anytime.
The only caveat is that I'm not sure if he was trying to ascertain my shareholding at that time and whether if he knew my shareholding it would have made much difference in the manner of speaking.
PS: I refrained from sharing all this information on Wednesday itself as I wanted to wait and verify some of these details myself. Having received the AR, seeing the remuneration, reading the AR etc has definitely laid to rest any ethical promoter related doubts I may have had about the company.
Highlights of the Concall by Capital Mkt
Net sales stood at Rs 1313.4 crore grew by 5.2% over the same quarter last year. Material cost, as a % to sale, is lower than same quarter last year by 778 bps mainly on account of lower prices of key raw materials. EBITDA stood at Rs.301.4 crore grew by 46.1%. Profit before tax in current quarter is Rs. 276.5 crore, a growth of 47.6% and Profit after tax stood at Rs 192.9 crore is higher by 40.5%.PBIT margins rose 690 bps to 24.6% in Q2FY'16 led by 660 bps rise in Consumer and Bazaar segment PBIT margins to 26.1% while Industrial product segment PBIT margin rose 600 bps to 17.5%.
Consumer and Bazaar segment revenue grew by 5.2% during Q2FY'16 compared to Q2FY'15 while segment profit before interest and tax (PBIT) grew by 38%. For H1FY'16 Segment revenue grew by 6.4% & segment profit beforeinterest and tax (PBIT) grew by 36.1%.
Industrial products segment revenue declined by 9.1% during Q2FY'16 compared to Q2FY'15 while segment PBIT for the quarter grew by 38.6%.For H1FY'16 Segment revenue declined by 4.3% & segment PBIT grew by 64.9% due to lower input costs.Sales in constant currency grew by 20% during the quarter. However, due to translation impact the reported sales show a growth of 10.9%.
North America sales recorded a growth of 6.9% for the quarter while EBITDA for the region improved by 57.9% on account of higher sales and improvement in margins due to various cost saving initiatives. For the Half year ended 30th September 2015 sales declined by 0.8% while EBITDA improved by 50.2%.
South America sales declined 1.9% for the quarter. Brazil business was impacted due to continued slowdown of the economy. Losses at EBITDA level reduced by 35.3%. Manufacturing and SG&A expenses were lower than last year due to the structural changes and other cost saving initiatives implemented. For the Half year ended 30th September 2015 sales declined by 4.3%.Loss at EBITDA level reduced by 24.7%.
Middle East & Africa sales grew by 117% for teh quarter largely due to commencement of distribution of Pidilite Industries products in the region, which hitherto was being done by a third party distributor. Adjusting for this revenue, sales were lower than last year. Loss at EBIDTA level increased by Rs 2.41 crore due to lower sales and higher SG&A expenses to support future sales growth in this region.
South & South East Asia sales grew by 26.2% for the quarter. EBIDTA grew by 36.3% due to good sales growth and reduction of material cost.The company expects tax rate of 30% for FY'16 which is further expected to increase in FY'17.VAM prices during the quarter were around USD 900-925 per tonne which corrected on QoQ basis. Currently prices are now below USD 900 per tonne
The good part is company is converting about 11% of cash available into other income which somewhat proves this money is for real unless they writeoff bad debts or losses in future.
Check this http://epaper.livehindustan.com/epaper/Delhi/Delhi/2015-10-31/1/Page-2.html
These days the front cover pages are filled with full page ads. With ecommerce companies spending huge in advertisement is good for the company. This will also force store retailers like Chroma, Vijay to increase their advertising spending to compete with online retailers. Coming few quarter should be good for HMVL.
Fantastic results from Lactose India.
YoY P &L
Revenue up 116%
Expenses up 50%
EBITDA up 710%
PAT up from 2.94 lac to 182.33 lacs
EPS up from 0.03 to 2.18
Balance sheet
Long term debt down 3 cr.
Working capital from 313.08 lac to 304.03 lac
Showing good signs of improvement.
Most Importantly - I reserve the right to be wrong 
I got a lot of positive feedback from forum members, so that just makes me a little conscious
Over to Gurjot, to fill in the missing bits
Great Work Gurjot
Like everybody else I am also dying to know what you thought of the MD - Minesh Doshi
a) Did he share anything about future prospects of the company
b) Did he come across as a honest and straightforward guy
c) Was he humble and did he give you, a minority shareholder adequate attention or was he a bit authoritative
d) What was your overall impression of him
I like these guys,I think in NBFC business having honest and ethical promoters is half the battle won,almost, everytime investors lose money investing in an NBFC is when they invest in promoters who are dishonest and over aggressive
SEBI thing and CSR are minor things, these guys are facing teething issues with going digital, moving the dividend payment system from physical to digital is a very positive step long term, short term pain is guaranteed though
It is great to see physical growth in contracts and opening of 3 more branches,plus the supposed branch in MP - this shows that management is stepping on the gas
The Negatives -
The ecosystem in which this company operates is under a lot of stress, it was heartening to see physical business growth, but the environment is stressful, if anybody can make it work, these guys can,let's see
At some time in the future, these guys will convert their unsecured loans into equity to increase capital base, this is normally done at book value, it is both a negative and a positive, negative because we get diluted, but positive because it gives the company even more operating leverage to drive business growth,everybody asking why these guys are working at no salary, this increased equity stake is what will be their payoff in the future for the work they have been putting into the company, from whatever I can decipher from their behavior, they will do it in a way which would be least harmful to minority investor interests
Thanks Gurjot.
Really Helpful. Reduces a few doubts that were coming in mind on promoters' credibility due to no AR & no dividend received.
On CSR- I think that a minor issue. Many small companies have not done full required CSR activity this year & they should be getting more time to complete that.
On non-compliance- Could be minor penalty from SEBI depending on seriousness of issue.