1st Presentation by Somi Conveyor Beltings:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/81746a89-ffc2-44f8-9fe1-8987c3350ef2.pdf
1st Presentation by Somi Conveyor Beltings:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/81746a89-ffc2-44f8-9fe1-8987c3350ef2.pdf
Yes that was the post. Had found it while researching the company. Had also found this.
How is the demerged valuation being calculated?
As per the “Cost of Acquisition of Shares”, Oriental Carbon is 40.81% and OCCL is 59.19%.
The stock split is 1:5. Is it anywhere relevant to the revenue of both businesses? As per the Q1/25 sales results, OCCL’s revenue is more or less 5 times of Oriental Carbon’s revenue. Even the historic figures mentioned in the documents are in similar ratio.
The data that you have shared suggests that the issue is systemic and sooner or later other banks would also hit the wall w.r.t CD Ratio. HDFC Bank has merely acted as the canary of the mines due to its merger
Reminds me of Andrew Lo’s quote in the book - Adaptive Market “Government is a source of systemic risk”
Let me elaborate, in a country where the real inflation is way above the official one, tax on Fixed deposits or Recurring Deposits never made sense when the interest fetched by such instruments were too low.
In fact, taxing Recurring Deposits itself shows that RBI/FM is not aware of the utility of the product. Recurring Deposits are a form of compulsory savings and encourage individuals to save periodically. They do not earn the kind of interest as in FDs. By taxing them, you are effectively discouraging the public and telling them to go find some other avenues.
Why would anyone put their money in bank to allow the Govt to tax whatever peanuts (Interest minus Inflation) they got from their deposits.
By stating that Banks should think outside the box, RBI is merely passing the buck instead of suggesting correction in Taxation norms for such banking products.
RBI, Finance Ministry are at the moment disconnected from reality. Lets see how the things pan out.
Thank you all for your comments/posts/feedback. … this is what Valupickr forum is all about - all your thesis and anti-thesis related discussions in one page and it goes on …and on …enlightening all of us.
@hitesh2710 Hitesh Air, one basic question…what to do if any stock in core long term portfolio doesn’t perform for a quarter or an year and FOMO and opportunity loss thoughts creep in…what to do in such situations…wait for more time or look for better opportunities as waiting in this market now looks like missing many opportunities…
Can’t open it.
Q1FY25 revenue at Rs. 612 crore, up 20% YoY
EBITDA at Rs. 73 crore, up 14% YoY
EBITDA margin at 12%, down slightly from 12.69% in Q1FY24
Net profit at Rs. 34 crore, down 7% YoY
Rs. 64 crore revenue booked from Surat Diamond Bourse (SDB) project
Rs. 54 crore EBITDA contribution from SDB project
Core business revenue (excluding SDB) grew 7.5% YoY
Focus on smooth execution of ongoing projects
Aim to ramp up order book with new projects in building space
Increased focus on precast technology by large corporates
Company becoming eligible for broader range of projects (sports complexes, tourism, airports, etc.)
Labor scarcity issues post-elections affecting some projects
Increased material costs and site overheads impacting margins
Lower core EBITDA margins addressed; management expects improvement from Q2
Clarifications provided on debt repayment and SDB receivables timeline
The company’s core EBITDA margin (excluding Surat Diamond Bourse project) was lower than usual in Q1 FY25, at around 3.5-4%.
Management attributed this to several factors:
The company expects these issues to be largely resolved from Q2 onwards.
Guided for EBITDA margins to improve to 10-11% range from Q2 FY25.
Some residual impact from UP projects might continue (estimated at Rs. 5-10 crores in Q2), other projects are not facing similar cost pressures.
Debt repayment and SDB receivables timeline:
As of June 30, 2024, the company had debt of Rs. 260 crores.
They received Rs. 104 crores from Surat Diamond Bourse (SDB) in early July.
Rs. 60 crores of director’s loan was repaid using this amount.
Current debt stands at around Rs. 200 crores (as of the call date).
Regarding SDB receivables:
Precast facility running at full capacity; revenue expected to reach Rs. 200-250 crore this year
Targeting revenue of Rs. 2,800 crore for FY25
Expect EBITDA margins to improve to 10-11% from Q2 onwards
Outstanding order book at Rs. 5,890 crore, up 11% YoY
Order inflow guidance maintained at Rs. 3,500 crore for FY25
Bid pipeline of Rs. 6,000 crore
Expecting 10-15% annual growth in coming years
Capex of Rs. 17 crore in Q1; projecting Rs. 60 crore for full year
Opportunities in new sectors like semiconductors
Risks from project delays and cost overruns (e.g., UP Medical projects)
SAR Tele: A Detailed Analysis
Company Overview: SAR Tele specializes in the installation of telecom infrastructure, particularly cell towers, which are smaller and more cost-effective than large towers, typically costing between 2-3 lakh per tower. They also engage in OFC (optical fiber cable) laying. The company leases these towers back to telecom operators. Currently, SAR Tele operates around 400 cell sites and has been rapidly expanding, as evidenced by their consistent growth in recent profit and loss statements.
Experienced Leadership Team: The leadership team at SAR Tele consists of seasoned professionals from the telecom sector. The company’s promoter has a grand vision for its future, reflected in the significant capital raised. What sets SAR Tele apart from its competitors is its strong client base, which includes major telecom operators such as Airtel, BSNL, JIO, and Vodafone.
Sector Tailwinds: The telecom sector is experiencing substantial growth, which is further bolstered by recent government support, such as the ₹82,900 crore infusion into BSNL announced in the latest budget. Market forecasts suggest that the telecom industry will grow at a rate of 10% annually for the next five years.
Opportunities in Rural and Underserved Areas: Recent agreements between SAR Tele and BSNL indicate a massive opportunity in rural and Tier 3 cities, where even 4G coverage is not yet fully established. This is a key reason behind the government’s financial support for BSNL. The expansion of 4G and 5G networks presents an enormous growth opportunity. The scale of work required is vast, with rapid project completion times. For instance, deploying a 100-200 crore project of cell towers, including land acquisition, can be completed in just a month.
Market Potential and Competitiveness: SAR Tele, with its superior team and resources, is well-positioned to capture a large share of this growing market. Their order pipeline, particularly with BSNL, is reportedly over ₹2,000 crore, which is expected to be reflected in their upcoming financial results.
Industry Insights: A review of Indus Towers’ earnings calls, a leading company in this field, reveals a sharp increase in the demand for towers, highlighting the still-low penetration levels. This indicates a continued need for more telecom infrastructure.
MD/CEO trying for 8% net profit as remuneration is a bit too much, dont u think?
The below is from latest Annual report.
During the financial year 2023-24, the overall managerial remuneration paid/ payable to Mr. Akshat Seth, Managing Director & CEO exceeds the limits stipulated under the provisions of section 197 of the Act, i.e., 5% of the net profits of the Company, calculated as per Section 198 of the Act. The Board in its meeting held on May 7, 2024 has proposed to increase limit of the managerial remuneration in excess of 5% of the net profits of the Company, calculated as per Section 198 of the Act, up to a limit of 8% of the net profits of the Company, for the financial year 2023-24, subject to approval of shareholders.
The question of yields is answered below by cerebras’ chief system architect. Very very interesting.
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