Hi Shivansh,
Thanks for your insights. I could not find Consolidated numbers on money control for 2015. Please find below the snapshot of current year Balance Sheet. 89 Cr is present as Cash and Cash Equivalents.
Please also find below link of the Annual Report for better understanding:
http://www.moneycontrol.com/annual-report/mmforgings/MMF/2015
I am not expert on Value Creation stuff. Can you please define more of that?
I appreciate the logical way though which you saw the traded goods being significant and checked the shipping bill details. The indicator for the same gimmick are the small font,without coma used for the line item " purchase of stock in trade" as compared to the cost of material consumed and the ratio of inventory to receivables. For this company it is close to 1.5 for LT Foods it is about 4.3 and for KRBL it is around 6. The other interpretation could be it could be trading, but since the shipping bill says a different story, even if it is to a small degree, it shown deceiving traits.
I appreciate the logical way though which you saw the traded goods being significant and checked the shipping bill details. The indicator for the same gimmick are the small font,without coma used for the line item " purchase of stock in trade" as compared to the cost of material consumed and the ratio of inventory to receivables. For this company it is close to 1.5 for LT Foods it is about 4.3 and for KRBL it is around 6. The other interpretation could be it could be trading, but since the shipping bill says a different story, even if it is to a small degree, it shown deceiving traits.
Everyone is jumping into affordable housing finance.
Muthoot has set up a new subsidiary for this. Muthoot has infused 50 crores as equity capital into this subsidiary. This is a small commitment so far (and looks like a long-term plan).....
I will be curious to know how Muthoot goes about this.
Will these housing loans be given against gold as collateral
What will be the average ticket size
What will be the average tenure of these loans (3 years vs. 10 years vs 15 years)
Will they pilot this in some states first? which states
No clarity on any of these so far.
Nevertheless, I think the major focus of the management would be their Sri Lankan gold finance subsidiary, and on expanding gold loans into Eastern and Western parts of India (where they have lesser presence).....
It is a good business, nevertheless...
The growth has to come from winning new customers... Theoretically, it should be possible - since all airlines would like to cut costs, bring in operating efficiency, etc. (On the other hand - retraining employees, integrating with legacy systems, etc imply there are switching costs involved).
However, a lot depends on the selling and marketing skills of the management and their aggressiveness on this front. Any idea how aggressive the management is?
with green shots being visible in the company's performance, any views on what will be the net impact of rupee depreciation on the company's financials as it has lot of foreign currency loans.
Disc - Invested from 170 levels and scaling up investments
Just thought i would highlight this - for anyone especially in south, vasan's eye care was unmistakable - meteoric from 2009 to 2014 and then a flame out in a year.
40% ebitda margins, 50% growth every year - global outlook - lots of debt - sudden change in fortunes - History rhymes every time - we just have to be prudent and watchful
have a look - high flying company with unbelievable numbers that was supposed to file for a $ 1 bn IPO a few months back.
growth coincided with 5 years of UPA rule. A good chunk of companies that ostensibly have splendid financials are fronts for hawala and money laundering.
any one tracking this company, with couple of approvals coming in for namenda generic in usa and gleevec generic in uk. can one take a fresh look at this company as valuations seem to be compelling.
My reasoning was: 1. down 20% from top and 2. availeble at 38 PE FY17e. But now that the earnings have been downgraded too, the price corrected further. Your observation of time/price correction throws up another query: Why is Page (given the quality of the stock) not going thru a time correction, like GRUH? Gruh has been hovering around 240's for a long time.
Discl: Invested both in Page and Gruh.