What other company is giving you an roa of 8% and roe of 16%+ with a gearing of just over 1x, while growing over 20% yoy? when gearing tends towards 3-4x roe will easily surpass 20% while roa remains relatively stable at 5-6%.
Posts tagged Value Pickr
Basilic Fly Studio Ltd (12-05-2024)
Very positive management comments, guidance and order book. Industry is also doing very well . Added attraction is Govt incentive. Surprised that market is yet to give thumbs up, where as many stocks without any semblance of fundamentals are ruling at astronomical level.
This is market.
Invested and hence biased.
Manohar’s Portfolio (12-05-2024)
Update as on 12-May
Company | Current Price | Average Buy Price | % at Portfolio level | Profit percent |
---|---|---|---|---|
Neuland Laboratories Ltd. | 7140 | 3754 | 10% | 90% |
Caplin Point Laboratories Ltd. | 1281 | 815 | 6% | 57% |
Time Technoplast Ltd. | 265 | 138 | 6% | 91% |
Sunteck Realty Ltd. | 413 | 453 | 5% | -9% |
Krsnaa Diagnostics Ltd. | 575 | 646 | 5% | -11% |
Balu Forge Industries Ltd. | 298 | 239 | 5% | 24% |
Va Tech Wabag Ltd. | 866 | 573 | 5% | 51% |
Strides Pharma Science Ltd. | 843 | 432 | 4% | 95% |
Ugro Capital Ltd. | 259 | 238 | 3% | 9% |
Godawari Power & Ispat Ltd. | 909 | 751 | 3% | 21% |
PDS Ltd. | 439 | 526 | 3% | -16% |
Laurus Labs Ltd. | 438 | 404 | 3% | 8% |
Mrs. Bectors Food Specialities Ltd. | 1233 | 1143 | 2% | 8% |
3B BlackBio Dx Ltd. | 712 | 633 | 2% | 12% |
Eris Lifesciences Ltd. | 856 | 872 | 2% | -2% |
Aegis Logistics Ltd. | 599 | 421 | 2% | 42% |
Hindustan Oil Exploration Company Ltd. | 190 | 188 | 2% | 1% |
Inflame Appliances Ltd. | 464 | 491 | 2% | -6% |
Sandhar Technologies Ltd. | 486 | 488 | 2% | 0% |
Som Distilleries & Breweries Ltd. | 296 | 295 | 2% | 0% |
I am adding gradually to - Aegis, HOEC, Sandhar, Laurus, PDS(this has corrected a lot from my initial buy). Wabag and Ugro. Not much change in the top-5 holdings. Also added a bit on WPIL, Rategain and Carysil. They might reflect in top-20 in coming months
Sold out GLS as road ahead for them looks difficult and Q4 results have not been as heart warming. Have initiated a position with small quantity in Piramal pharma. Will add to position based on good pricing opportunity.
Pharma || Hospitals || Diagnostics : Industry perspective (12-05-2024)
Does INDIA alliance coming to power affects this matter in anyway? Views please
Kovai Medical Center and Hospital – Health and Wealth (12-05-2024)
If the INDIA alliance comes to power, will the centre take a stronger stance on this? Just thinking aloud.
Pharma || Hospitals || Diagnostics : Industry perspective (12-05-2024)
CIPLA Ltd -
Q4 FY 24 results and concall highlights -
Revenues - 6163 vs 5739 cr, up 10 pc YoY
EBITDA - 1316 vs 1174 cr ( up 13 pc YoY, margins @ 21 vs 20 cr )
PAT - 932 vs 522 cr
R&D spends @ 444 cr, @ 7.2 pc of sales
Segment Wise revenue break up -
India - 2417 cr, up 7 pc
North America - 1876 cr, up 11 pc
South Africa - 560 cr, up 26 pc
EMs - 830 cr, up 5 pc
APIs - 190 cr, up 40 pc
Total Debt @ 560 cr
Cash on books @ 8270 cr. Company is open to inorganic growth initiatives
Investments made in FY 24 -
Acquired Actor Pharma in South Africa for 400 cr. It has a portfolio of branded generics and OTC brands in SA
Got into a marketing and distribution partnership with SANOFI to distribute 06 of their CNS brands in India
Acquired OTC brand portfolio of IVIA beauty and Astaberry in India for 130 cr
Company has 21 brands ( branded generics ) in top 300 brands in IPM. These brands have a turnover > 100 cr each
Company has a booming Speciality - InLicensing business with FY 24 sales @ 761 cr. Last 5 yr CAGR here has been @ 39 pc
In addition, company has 5 OTC brands with sales > 100 cr / yr. These are - Omnigel, Nicotex, Prolyte ORS, Cipladyne, Cofsils
North American product pipeline -
Respiratory pipeline - 05 assets filed assets in last 12 months. Going to file 02 more assets in next 12-15 months. Major launches expected in next 12-15 months
Peptides and Complex generics - 12 assets already filed. Going to file 08 more assets in next 1-2 yrs. Multiple launches expected over FY 25-27
505(b)(2) assets - have filed 02 assets. Launches expected in next 1-2 yrs
Company has reached no 1 spot in the prescriptions business in SA
In India, Chronic portfolio’s share is now at 61 pc. Chronic business has a far superior gross margin profile vs Acute business
Company has hit 20 pc mkt share in Lanreotide
( injectable peptide - a 505(b)(2) products )and 13 pc Mkt share in Albuterol ( complex generic - inhaler ) mkt
Guiding for an EBITDA margin band of 24-25 pc for FY 25
30 pc of company’s total revenues come from Respiratory products
Company has set up a manufacturing facility in China. Have got US FDA approval for the same. Have spent aprox 430 cr to set up that facility. Also looking to penetrate / expand into the Chinese market
Company is likely to see 2 more years of strong Revlimid sales ie FY 25, 26
Company’s Pitampur and Goa plants are yet to resolve their USFDA issues ( warning letters ). Once company resolves these regulatory issues, there could be significant bump up in the US business ( company expects Goa resolution and commencement of supplies only towards the end of FY 25 )
R&D expenses to continue to remain in the band of 6-7 pc of revenues
Disc: holding, biased, not SEBI registered, not a buy/sell recommendation
Ranvir’s Portfolio (12-05-2024)
CIPLA Ltd -
Q4 FY 24 results and concall highlights -
Revenues - 6163 vs 5739 cr, up 10 pc YoY
EBITDA - 1316 vs 1174 cr ( up 13 pc YoY, margins @ 21 vs 20 cr )
PAT - 932 vs 522 cr
R&D spends @ 444 cr, @ 7.2 pc of sales
Segment Wise revenue break up -
India - 2417 cr, up 7 pc
North America - 1876 cr, up 11 pc
South Africa - 560 cr, up 26 pc
EMs - 830 cr, up 5 pc
APIs - 190 cr, up 40 pc
Total Debt @ 560 cr
Cash on books @ 8270 cr. Company is open to inorganic growth initiatives
Investments made in FY 24 -
Acquired Actor Pharma in South Africa for 400 cr. It has a portfolio of branded generics and OTC brands in SA
Got into a marketing and distribution partnership with SANOFI to distribute 06 of their CNS brands in India
Acquired OTC brand portfolio of IVIA beauty and Astaberry in India for 130 cr
Company has 21 brands ( branded generics ) in top 300 brands in IPM. These brands have a turnover > 100 cr each
Company has a booming Speciality - InLicensing business with FY 24 sales @ 761 cr. Last 5 yr CAGR here has been @ 39 pc
In addition, company has 5 OTC brands with sales > 100 cr / yr. These are - Omnigel, Nicotex, Prolyte ORS, Cipladyne, Cofsils
North American product pipeline -
Respiratory pipeline - 05 assets filed assets in last 12 months. Going to file 02 more assets in next 12-15 months. Major launches expected in next 12-15 months
Peptides and Complex generics - 12 assets already filed. Going to file 08 more assets in next 1-2 yrs. Multiple launches expected over FY 25-27
505(b)(2) assets - have filed 02 assets. Launches expected in next 1-2 yrs
Company has reached no 1 spot in the prescriptions business in SA
In India, Chronic portfolio’s share is now at 61 pc. Chronic business has a far superior gross margin profile vs Acute business
Company has hit 20 pc mkt share in Lanreotide
( injectable peptide - a 505(b)(2) products )and 13 pc Mkt share in Albuterol ( complex generic - inhaler ) mkt
Guiding for an EBITDA margin band of 24-25 pc for FY 25
30 pc of company’s total revenues come from Respiratory products
Company has set up a manufacturing facility in China. Have got US FDA approval for the same. Have spent aprox 430 cr to set up that facility. Also looking to penetrate / expand into the Chinese market
Company is likely to see 2 more years of strong Revlimid sales ie FY 25, 26
Company’s Pitampur and Goa plants are yet to resolve their USFDA issues ( warning letters ). Once company resolves these regulatory issues, there could be significant bump up in the US business ( company expects Goa resolution and commencement of supplies only towards the end of FY 25 )
R&D expenses to continue to remain in the band of 6-7 pc of revenues
Disc: holding, biased, not SEBI registered
Jupiter Wagons Ltd (previously CEBBCO) (12-05-2024)
b8d7922f-f3f5-46e1-b4a7-1fe2e0bd463a.pdf (bseindia.com)
Another round of fund raising !!
My Cipla Holdings – looking for advice and opinions (12-05-2024)
CIPLA Ltd -
Q4 FY 24 results and concall highlights -
Revenues - 6163 vs 5739 cr, up 10 pc YoY
EBITDA - 1316 vs 1174 cr ( up 13 pc YoY, margins @ 21 vs 20 cr )
PAT - 932 vs 522 cr
R&D spends @ 444 cr, @ 7.2 pc of sales
Segment Wise revenue break up -
India - 2417 cr, up 7 pc
North America - 1876 cr, up 11 pc
South Africa - 560 cr, up 26 pc
EMs - 830 cr, up 5 pc
APIs - 190 cr, up 40 pc
Total Debt @ 560 cr
Cash on books @ 8270 cr. Company is open to inorganic growth initiatives
Investments made in FY 24 -
Acquired Actor Pharma in South Africa for 400 cr. It has a portfolio of branded generics and OTC brands in SA
Got into a marketing and distribution partnership with SANOFI to distribute 06 of their CNS brands in India
Acquired OTC brand portfolio of IVIA beauty and Astaberry in India for 130 cr
Company has 21 brands ( branded generics ) in top 300 brands in IPM. These brands have a turnover > 100 cr each
Company has a booming Speciality - InLicensing business with FY 24 sales @ 761 cr. Last 5 yr CAGR here has been @ 39 pc
In addition, company has 5 OTC brands with sales > 100 cr / yr. These are - Omnigel, Nicotex, Prolyte ORS, Cipladyne, Cofsils
North American product pipeline -
Respiratory pipeline - 05 assets filed assets in last 12 months. Going to file 02 more assets in next 12-15 months. Major launches expected in next 12-15 months
Peptides and Complex generics - 12 assets already filed. Going to file 08 more assets in next 1-2 yrs. Multiple launches expected over FY 25-27
505(b)(2) assets - have filed 02 assets. Launches expected in next 1-2 yrs
Company has reached no 1 spot in the prescriptions business in SA
In India, Chronic portfolio’s share is now at 61 pc. Chronic business has a far superior gross margin profile vs Acute business
Company has hit 20 pc mkt share in Lanreotide
( injectable peptide - a 505(b)(2) products )and 13 pc Mkt share in Albuterol ( complex generic - inhaler ) mkt
Guiding for an EBITDA margin band of 24-25 pc for FY 25
30 pc of company’s total revenues come from Respiratory products
Company has set up a manufacturing facility in China. Have got US FDA approval for the same. Have spent aprox 430 cr to set up that facility. Also looking to penetrate / expand into the Chinese market
Company is likely to see 2 more years of strong Revlimid sales ie FY 25, 26
Company’s Pitampur and Goa plants are yet to resolve their USFDA issues ( warning letters ). Once company resolves these regulatory issues, there could be significant bump up in the US business ( company expects Goa resolution and commencement of supplies only towards the end of FY 25 )
R&D expenses to continue to remain in the band of 6-7 pc of revenues
Disc: holding, biased, not SEBI registered
Great Eastern Shipping (GE Shipping) – Possible Sleeper? (12-05-2024)
Important point in presentation :
SUEZ CANAL/PANAMA CANAL DISRUPTIONS:
In the first two months of 2024, Suez Canal trade dropped by 50 percent from a year earlier while trade through the Panama Canal fell by 32 percent, disrupting supply chains
• A severe drought at the Panama Canal has forced authorities to impose restrictions that have substantially reduced daily ship crossings since last October, slowing down maritime trade through another key chokepoint.
• Attacks on vessels in the Red Sea area reduced traffic through the Suez Canal, the shortest maritime route between Asia and Europe, through which about 15 percent of global maritime trade volume normally passes
• As a result, several shipping companies have diverted their ships around the Cape of Good Hope