Posts tagged Value Pickr
PNGS Gargi Fashion Jewellery Limited (15-08-2024)
Pls review latest result
Aptus Value Housing : Is valuation justified or just another HFC? (15-08-2024)
I disagree that they might go for QIP. Capital is raised in two ways – debt and equity. Debt/equity ratio is generally over 3x for most lenders but it is < 2x for Aptus. This is also the reason they are comfortable in paying dividends as they have adequate equity buffer. Their target from here would be raise more debt from banks/NHBs instead of raising equity.
@Pulak I see your concern on NHB refinancing. But from what I understand it shouldn’t be a problem for them to secure it this year too. The government is very supportive of financing affordable housing. It was mentioned multiple times in speeches and even in “Final Budget key note”.
Besides their ratings are not bad, look at the credit report. Care assigns AAA to most secure lenders and AA is second to that. Read their rationale behind it.
Yes there are concerns about self-employed borrowers who experience uncertainty in their cash flows, however I personally would take this much risk willingly, particularly given their LTV doesn’t go beyond 50% and avg LTV of whole portfolio is ~40% as most of the portfolio is for HFC where LTVs are <40%. Secondly, SMEs are expected to do good in coming years as government is strongly pushing for them, if you have noticed in this budget too there was a scheme for bank guarantees from their side for SME loans.
As far as geographical diversification goes, they have done pretty good so far and going forward their Karnataka allocation is gonna increase as this region AUM is growing at over 30% vs their traditionally dominant region Tamil Nadu which might be growing at 10-15%.
Bartronics India (15-08-2024)
Hi Nilesh, from an article in the Hindu today, I have found that the Kavach system requires RFID cards and readers. There seem to be very few listed companies in India that are into RFID. After visiting the company’s website however, I am not sure the company is into RFID.
I did not note however that one of the negatives in your view was declining promoter holding in the company. However, I had noted to my surprise that this was one company where the promoter holding had dramatically risen. From 0%(!) Dec 22 to 90% in March 23 is exceptional indeed. It has now declined to 85.87%, which appears reasonable.
It does seem that its RFID foray is limited to cards.
Incidentally, I am also looking up Syrma.
Disclaimer: Not invested.
Nitiraj Engineers: Electronic Weight Machines (15-08-2024)
Sales numbers have dropped exponentially.
Long term investment strategy (Buy, hold but don’t forget) (15-08-2024)
In fact my visit of today was for checking views of the members on Sanghvi. I was trying to choose between Sanghvi and Action Construction.
So, will you kindly elaborate your reasons for exiting Sanghvi?
Focus Lighting & Fixtures Limited (SME) (15-08-2024)
A very well put together post, mate. The company has come on my radar recently due to its mouth watering valuations viz a viz its past growth rate.
I’m barely tracking the company but having heard the management on the Q1 con call, I couldn’t really understand what is so wrong with the company for such a sharp fall in the stock price. The management also clarified things about the receivable days and the fact they have visibility on growth for the next 2-3 years.
Will continue to monitor and learn more about the business. Just purely on valuations, the company is looking super interesting.
Red Tape Ltd. – The next fashion giant? (15-08-2024)
Any idea on how many stores they have added in the quarter, not sure why the Quarterly revenue is dipping, last quarter was also bad, is the management reporting complete numbers ?