I think Sanghvi movers investor concall was not well planned, the message passed was wrongly interpreted by most.
The positives I picked up in call is
- pricing power (tagging EPC with credit period and saying would stop giving cranes )
- pay as you grow model -capex in last 3 years always increased by board -same may continue
- % mix changing for higher cranes will lead to higher yield (my guess )
- 77% of gross block is new cranes
- check past order book increase between 1 year period ,gives indication revenue would be close to 900cr
The company which will grow minimum at 25/30%+ is available at Cash Pat multiple of 14 in this bullish market
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