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Posts tagged Value Pickr

Prestige Estate – Will it increase the Prestige of Retail Investors (31-10-2024)


Summary of Prestige Estates Q2 FY23 Earnings Call

This is a detailed summary of the Prestige Estates Q2 FY23 earnings call focusing on the points requested.

Financial Performance

  • First half revenue was 4,448 crores, with EBITDA of 1,791 crores, reflecting an EBITDA margin of 38.43%.
  • PAT for the first half was 541 crores, with a margin of 12.18%.
  • As of September 30th, net debt was 3,592 crores, and the debt-to-equity ratio is down to .21.

Margin Guidance

  • EBITDA margin guidance for the new launches in H2 FY23 is 35%.
  • PAT margin on new launches in H2 FY23 is expected to be around 15% to 18%.

Business Segment Performance

  • Office Portfolio: Leasing activity remains robust with a 90% occupancy rate across the existing portfolio.
    • Exit rental for the office segment is projected to reach 3,326 crores by FY28.
  • Retail Segment: Strong performance in all malls with an occupancy rate of 99.2%.
    • Exit rental for retail is expected to reach nearly 1,000 crores by FY29.
  • Hospitality Segment: Operating hotels delivered revenue of 415 crores, with a gross operating profit margin of 44%.
    • Revenue in the hospitality segment is projected to reach 2,346 crores.

Management Guidance for the Future

  • The company is working on several business development opportunities that will be added to its pipeline.
  • Management expressed confidence in achieving the pre-sales guidance of 24,000 crores for FY23.
  • They expect strong pre-sales in H2 FY23 due to a robust launch pipeline.
  • The company is focusing on disciplined growth and delivering sustained value to its stakeholders.

Key Risks in the Business

  • Delays in Obtaining Approvals: The management acknowledged delays in obtaining approvals, which is a concern for the timely launch of projects. They expect the situation to improve after the elections in Maharashtra.
  • Potential Oversupply in H2 FY23: There is a potential risk of oversupply in the market in H2 FY23, as most developers are planning a significant number of launches during this period.

Industry Outlook

  • Demand for residential real estate continues to be strong, particularly in the mid-income segment.
  • There is a pent-up demand for projects in all the cities where Prestige Estates operates.

Key Highlights

  • Successful completion of the QIP in Q2, raising 5,000 crores.
  • Consolidation of stakes in related party entities, resulting in the addition of approximately 20,000 crores of GDV and 8,000 crores of EBITDA.
  • Plans for an IPO of the hospitality business are underway.
  • The company is focusing on maintaining its product quality and pricing discipline to ensure continued success.

Disc: Invested and may be biased

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Burger King ~ Whopper of an Opportunity (31-10-2024)

Me too, prima-face this stock gives u indications, that it may blast at anytime, given the giant in qsr business is quoting at less than 5k cr market cap.

But that never happens.
Wait has been truly long.

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Arrow Greentech (Old name: Arrow Coated Products) – Anybody tracking (31-10-2024)

There might be things that we do not know …

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Microcap momentum portfolio (31-10-2024)

@visuarchie I know two such tools(both are paid) which might do the job of screening: MarketSmithIndia has filters for high Relative Strength stocks. I don’t have their subscription. I used their free screeners long time ago. Another one is The Wrap by @Tar. I am a subscriber and use it actively. They have a Stage 2 tool in which they update stocks in Stage 2 weekly. I personally use it to identify strong sectors (trends of stocks in stage 2 in a particular sector) and stocks which have just entered stage 2.

Screenshot 2024-10-31 at 11.45.22

It looks something like this. This is still a long list of stocks. To identify value momentum stocks, I would identify sectors which are not hot at the moment but number of Stage 2 stocks is steadily increasing. Among them, I will identify stocks which have just entered Stage 2 (or broken out of Stage 1 base). I usually have a stoploss to weed out fake breakouts. In addition, my approach also involves studying fundamentals to gain conviction otherwise it is hard to allocate significantly to a single stock. Hope it helps.

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Microcap momentum portfolio (31-10-2024)

@prateekv I went through the link and tried to understand how they go about their setup. Ruthless selling is not a problem because we do the same with our momentum strategy.

However, one issue that I foresee is to identify few stocks to check their stage. There are more than 1000 scrips traded actively. It will be difficult to run this stage analysis through all of them. We will have to come up with a shorter list for evaluation.

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MCX and Financial Technologies (31-10-2024)

The PE is artificially high as in Dec 23, there were significant payments to 53 moons provider of the legacy MCX exchange/trading platform. You should look at forward P/E.

Large of part of MCX costs are fixed so any additional revenues from increase in trading volumes go directly to the bottom line. MCX and most exchanges enjoy huge operating leverage.

A lot of new products are expected to be launched in the coming quarters. Expect volumes to increase post this. These were delayed pending the switch to the new trading platform.

MCX enjoys nearly 98% share in commodity futures.

There is a huge runway, NSE and BSE options volumes are 250 times MCX volumes.

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COSMIC CRF LIMITED – sme (31-10-2024)

:beginner:CosmicCRF came with good numbers.
:diamond_shape_with_a_dot_inside:37% growth in Top line 172% in bottom Line and 100% in EPS.
:diamond_shape_with_a_dot_inside:Management walks as per their talks. (100% growth)

:beginner:CosmicCRF came with a detailed Investor presentation.
:diamond_shape_with_a_dot_inside:Management’s aggression for growth is clearly visible.
:diamond_shape_with_a_dot_inside:He is having Very in-depth knowledge about wagon manufacturing.

Investor presentation:
bseindia.com/stockinfo/AnnP…

Watch the full video:

Cosmic CRF Ltd H1 FY’25 Earnings Concall

My observations:
:diamond_shape_with_a_dot_inside:Out of 85 Cr (raised in preferential) – 26 Cr still in hands.
:diamond_shape_with_a_dot_inside:More acquisitions on cards!
:diamond_shape_with_a_dot_inside:They planning to acquire amzen transport through NCLT, If they succeeded in it then definitely they get good opportunity for wagon manufacturing (As it had all RDSO approvals)
:diamond_shape_with_a_dot_inside:They are also planning to make some technical collaborations with Russian Railway wagon manufacturer. It is still in initial stages and if it happens they will have some additional advantage (when compared to Titragarh or Jupiter). Of course it’s too early to make any assumption as the management clarified that just initial meetings completed but so far they have not made any agreements.
:diamond_shape_with_a_dot_inside:As management guided, they are going to become a complete wagon manufacturer and the demand for wagons (up to 2030) is very huge.
:diamond_shape_with_a_dot_inside:So far management is walking as per their talk. Let’s see what they will do in future.
With thanks
Disc: Invested (My views may be biased as I am holding this, plz do your own research)

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Arrow Greentech (Old name: Arrow Coated Products) – Anybody tracking (31-10-2024)

I wonder why there is no reaction in stock price after a good result?

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Northern Arc – Long term play (31-10-2024)


I too started tracking the company for its valuations.
Now P/B might be lower as compared to IPO P/B.

In terms of management I am still not yet convinced with their transperancy and answers to the questions in call & media interviews. They have never spoken about MFI sector stress at the time of IPO and started provisions only immediately after IPO concluded.

Like all other companies they also managed the provisions well before the IPO and started bursting after IPO, I asked this question in Q2 call also.

In addition to MFI, MSME & Vehicle finance also can face stress. On ground vehicle finance NPAs are shooting up like anything.

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Multibase India Ltd (31-10-2024)

It is the fiduciary duty of BOD to act in best interest of all stakeholders. You are right, keeping shareholders in the dark about the current situation of an empty executive room is a violation of trust. The board is comprised of qualified individuals, I hope they will act promptly, sooner the better.

Disc: Still invested.

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