Posts in category Value Pickr
Eco Recycling Limited (Ecoreco (22-08-2024)
Not sure
I checked the annual report as well.
it does not specify. It just says o/s dues
Sequent Scientific – Indian story in Global Animal Pharma Space (22-08-2024)
June 2024 Q 1 Concall
Interesting Points
Got EU GMP for turkey and hence they can supply material to Europe
Turkey market share has improved and currency has stabilised a bit
Currently Import / Export ratio for turkey is 2 – Mgmt wants to bring it down to 1
Cost efficiency and product mix has brought better results
Still overall percentage of revenue from Companion animal side remains pretty low – Mgmt wants that to rise
New revenue stream of vaccine distribution might open up for the Company as they are present at the front end
Looking for some inorganic growth as well but need to keep in mind the debt levels and working capital days have also gone up but as per mgmt it will stay like that for sometime due to disruptions caused by war and supply side issues
Disc – Invested at higher levels
RBM Infra – a less discussed SME (22-08-2024)
The oil and gas sector and Reliance Industries will collectively account for over 60% of the rated Indian portfolio’s spending over the next couple of years.
Moody’s said the seven rated oil and gas companies in India will also account for around 30% of rated Indian companies’ capex.
https://nsearchives.nseindia.com/corporate/RBMINFRA_20082024144132_s_pr_rbm.pdf
Disc : invested
RBM Infra – a less discussed SME (22-08-2024)
Interestingly, statutory auditors have resigned in Jun-24 within 1.5 years of appointment citing ‘‘lack of cooperation & coordination during audit process’’.
https://x.com/mukesh634/status/1818696994640011354?t=a6xmjFHUpkMEra70GUTR4w
Disc : invested
Research on Ind Swift Laboratories Ltd (22-08-2024)
Dear @robin1 , As per the disclosure dated 6 Aug 2024 made by Auditor Avishkar Singhal and Associates (who did audit of FY 23-24 and limited review for the quarter ended Jun 2024) have confirmed that the reason for resignation is “personal reasons and pre occupation in other professional assignments”. Further, they have clarified by Auditor in the statement that “our firm neither have any sort of dispute nor have any concern relating to suppression of information by the management of the Company for the purpose of carrying out audit procedures.” I hope this clarifies your concern. If you still have any other observation then please feel free to share with us. Thank you.
Relevant extract of the submission by Auditor is captured as under:
Zomato – Should you order? (22-08-2024)
Maybe he is wrong about the Rs 200 cr figure, but can one be comfortable with the valuations at which the deal has been done? Wanted to understand the viewpoint of fellow boarders.
(Interestingly, similar concerns about the valuation at which Blinkit was acquired were raised, however, Zomato management’s decision proved to be right.)
Disclosure: Invested at very low levels and planning to hold
Shilchar Technologies – Power & Distribution Transformers – Sunrise Sector? (22-08-2024)
I heard that there is shortage of Transformers in the world . Am I correct ?
PayTM (One 97 Communications Ltd) (22-08-2024)
Paytm has done a good sale here imo. Selling a business which was only adding 29 crores to EBITDA every year for 2048 crores is not bad.
Yatharth Hospital & Trauma Care Services Limited (22-08-2024)
- Revenue grew 37% year-on-year to INR 2,118 million in Q1 FY25
- EBITDA increased 30% year-on-year to INR 537 million
- Profit after tax grew 60% year-on-year to INR 304 million
- Overall occupancy improved to 61% compared to 51% in Q1 last year
- ARPOB (Average Revenue Per Occupied Bed) increased 9% to INR 30,551
- Noida Extension Hospital registered 81% Y-o-Y revenue growth, contributing 38% to topline
- Oncology now contributes 10% to group revenues and 17% for Noida Extension Hospital
- Government business contributes around 37% of revenues, down from 40% last year
Recovered INR 80 crores out of INR 227 crores outstanding receivables as of March 2024 - Debtor days reduced by around 5 days compared to last fiscal year end
- Targeting to bring debtor days close to 100 by end of current fiscal year
- Acquired 200-bed Faridabad Hospital which commenced operations in May 2024
- Planning to add 250 beds in Noida Extension and 200 beds in Greater Noida in next 2-3 years
- Signed NDA with a leading big six auditing firm for management audit and process improvements
- Focusing on expanding footprint across North India through organic and inorganic growth
- Targeting one inorganic acquisition per year
- Added robotic surgery capabilities including Da Vinci, MAKO and Cuvis robots
- Planning to start medical and surgical oncology and cardiac surgery in Jhansi hospital
- Targeting to reach 2,800-3,000 beds by FY28 from current 1,605 beds
- Expecting to reach close to INR 1,000 crores revenue in FY25
- Targeting sustainable EBITDA margin of around 25% at consolidated level
- Faridabad hospital expected to break-even in 18 months and reach 20%+ EBITDA margin in 3 years