Quarterly earnings from corporates, global trends, and trading activity of foreign investors will guide market sentiment this week, analysts said, adding that benchmark indices may face volatile trends. “The upcoming release of Q2 results will be closely watched, providing insights into corporate performance. “Meanwhile, the escalating tensions between Israel and Iran introduce a significant geopolitical risk, potentially leading to increased oil prices and market volatility.
Private firm’s three directors convicted for not following Sebi rules (20-10-2024)
A court here has convicted a private company and its three directors in an over 23-year-old case under the SEBI Act and Collective Investment Scheme (CIS) regulations, saying they trapped innocent people by promising them unrealistic returns.
Additional Sessions Judge Vandana Jain was hearing a 2001 case against Kisley Plantation Ltd, a company in East Patel Nagar, and its directors against whom SEBI had registered a case.
According to the Securities and Exchange Board of India, the company was running a CIS and raised an aggregate amount of around Rs 2.43 crore from the general public, without registering with the regulatory body, while promising high returns and fiscal incentives.
In its order dated October 8, the court said, “It has been proved beyond reasonable doubt that accused no.1 (Kisley Plantation) floated Collective Investment Schemes while there was a complete embargo under Section 12 (1B) of SEBI Act to launch any such scheme.”
The section deals with obtaining a mandat
Auto exports from India rise 14% in Apr-Sep period (20-10-2024)
Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per cent as compared with 22,11,457 units in the year-ago period. “Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back.
Bhansali Engineering Polymers – An Import Substitution Story! (20-10-2024)
@RajeevJ sir are you still tracking/invested in this company?
Can you guide us if the promoters can be trusted. Considering a small cap company not expecting it follow best of the practice.
They are keep on revising the proposed brown field expansion timeline.
In AR 21-22 it was mentioned that expansion tentatively to be implemented by Dec24.
Then no mention of expansion in AR 22-23.
And AR 23-24 says that they have assigned TOYO for the cost study which will be revived by Sep24 And the expansion is “need of the hour” and likely to be implemented by March 2026.
In July 24 meeting that said the cost report is delayed due to required multiple interactions with International suppliers in procuring the machinery. The report is now expected by sep end. However they intend to keep the implementation timelines unchanged.
Would also request other VP members to put your thoughts.
The only exciting thing in this stock is the proposed expansion plan.
TMC faces challenges in by-polls amid RG Kar protests; BJP, Left will try to encash on law & order, women’s safety issues (20-10-2024)
Facing challenges due to protests and issues of law and order, Trinamool Congress braces for assembly by-polls in six constituencies on November 13. With BJP announcing its candidates, the political atmosphere intensifies as safety concerns and governance become central themes in the campaigns.
Expect J-K Assembly to pass resolution for restoration of Article 370 in first session: NC MP (20-10-2024)
National Conference leader Aga Ruhullah Mehdi anticipates the Jammu and Kashmir Legislative Assembly to pass a resolution for restoring Article 370 in its first session. Mehdi emphasizes his commitment and the party’s stance on the issue. He also advocates for societal efforts to ensure the return of Kashmiri Pandits.
Geospatial sector – Sunrise Opportunity (20-10-2024)
There are several like bidassist, tendertiger, tendersontime etc. Please use google or chatgpt (ask “where can i find indian govt tenders?” and then ask “any third party portals?” if it gives the govt. portals to get an idea of third party portals)
I think 3.5 lakhs would be par for the course in this industry. This isn’t TCS or Infosys. The work is operation heavy both on ground and in processing. They would have lot of freshers in processing work and skilled manual labour in operations. To compare, check what it is with a competitor like Genesys. Exactly same 3.5 lakhs (0.35 million) for men and would likely be lower if both men and women were included as one as female remuneration is 2.6 lakhs.
Source: Genesys AR
As for why it was low during Covid, if I remember right, they had lot of contract workers then and were probably paying less as there was no business with govt happening during Covid in ’20 and ’21. It is mentioned in one of the AGMs.
I suspect the negative working capital has more to do with your calculation than reality.
For a company like ceinsys, there’s a lot of “project and other operating expenses” and “other expenses” on which they might be able to pay the vendors after the govt. pays them (which is where the 50 Cr payables comes from which is ~15% of total expenses). However, most DPO calculations take this
In this COGS for Ceinsys won’t include a bulk of the project cost and other opex.
So it will look like DPO is high when its not. When DPO is high, of course you will see negative working capital (R + I – P) but that’s not the real story. In reality It would be positive. I dont think its abnormal.
Receivables though are what we should keep an eye on in a business facing the govt.
These are the receivable days as per screener and I think its more or less accurate on this. It is on a good trajectory.
247 → 153 → 154 → 143
Mr. Kamat has mentioned in one of the calls that 120 days is what they will strive for but it cannot get better than that as they aren’t a software company to have < 90 days receivables
These sort of questions I think you can find answers through Google, ARs, concalls if you put in a bit of effort.
After the last post, I found one more tender where Ceinsys is L1. System Integrator SI for Monitoring Infrastructure Projects using IDDP for MMRDA
So I think along with confirmed order book of 1150 Cr, there is ~500 Cr of L1 as well from the two orders.