(post deleted by author)

Good results from the company:

1. Company increase their YoY revenue by 40% compared to their 20% guidance which always looked likely.
2. Create segment:

• Finally the growth has picked up a little bit QoQ growth 14% in Q4 compared to 11% in Q3
• Also, we’re starting to see operating leverage kick-in. Margins in Q4 were 28% compared to just 16% in Q3. Looks like all the marketing and partnerships expenses are paying off now
• YoY revenue growth is 21% which is my only peeve with the results. This is the segment which is expected to lead us to promised land and I would like to see rapid growth here so that company can capture market share which can convert into annually recurring revenue (ARR)

3. Collect segment:

• Unexpected levels of growth here, sales up ~70% YoY and even margins improved by 100 basis points

Missed the con-call unfortunately, so if someone can post the notes here, that would be great

I am quite surprised by Sanghvi Movers’ gross yield guidance of 2-2.2%. Tarachand Infra reported average gross yields of 2.85% in FY24. Tarachand has no presence in wind sector yet (They are entering in FY25) whereas about 50% of Sanghvi’s business comes from wind and wind is supposed to have very good yields across industries.

Also, while I buy their rationale of increasing management commission in a good year to compensate for bad years where management remuneration did not go up, the same could be said about dividends? From FY18-FY21 there were zero dividends. So why are they over-compensating the promoter shareholders while ignoring the minority shareholders?

This and the overall defensive tone of the call was surprising and disappointing to an extent.

Disclaimer: Invested in Tarachand. Tried a results trade in Sanghvi expecting a good set, hit my SL and exited. No reco.

Adding another example to the list.
Eco Hotels and Resorts Ltd
Acquired by Suchit Punnose (Redribbon …).
Previously manipulated Modulex Construction Technologies Ltd using the same model.

https://x.com/regulation30/status/1792423878037291350

Rough maths based on YT videos

So annual EBITDA can be easily 250 crores assuming all of this capacity will get sold out in 2 years – same time when a lot of existing casks would be reused for fresh batches and… and 6-10 months prior to when the new capacity can get on steam.

You can easily alter numbers here depending on your thoughts and arrive at the revenue / ebitda numbers… all in all, Indri seems to be headed for a bumper run over next 4-5 years