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Modi vows to work more to make Bharat Viksit (07-10-2024)
Marking 23 years in power, Prime Minister Narendra Modi committed to tirelessly working towards India’s goal of becoming a developed nation. Recalling his time as Gujarat’s chief minister, he highlighted significant progress made despite past challenges and misrule, emphasizing achievements and future aspirations.
Victims of Stanford Financial’s Fraud Scheme May Soon Be Paid. Some Already Sold Their Claim. (07-10-2024)
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Oil Prices Rise as Mideast Crisis Intensifies (07-10-2024)
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Addictive Learning Technology limited (LAWSIKHO) (07-10-2024)
2024 Alpha Ideas SME Stars – Addictive Learning Technology Ltd
Alpha meet recording
Samhi Hotels – Turnaround with Tailwinds (07-10-2024)
Thanks a lot Girish, for sharing the recording.
My understanding of the concall is as below, others can also add, if I miss any point.
- No additional debt would be taken by the company for this acquisition.
- Renovation will start from Q1’FY2026
- Current acquisition will start contributing to top and bottom line from current quarter onwards (may be around 10 cr in the top line, calculated from Revpar and rooms )
- Company has also refinanced around ~350 crores of NCDs from 13.5% annual to 9.2% annual which can help saving around 13 cr to 14 cr in interest expenses annually.
- Net Debt/EBITDA will stand ~4.4x at the end of FY’2025 , Net debt would be around 2060 crores, which means EBITDA would be 460 crores to 470 crores
- If I assume depreciation in line with last year ~120 cr and annualize the interest payment of 55.57 cr which would be ~220 crores (one can adjust the benefit of ~6.5 crores of half yearly benefit from refinancing of NCDs) PBT for the company can around ~120 crores to ~125 crores.
- Company was in losses in previous years , so I believe it may not have to pay taxes in the FY’2025
Company is available at ~32x of FY2025 earnings. Not sure about the upside but downside seems to be limited.