reasonable promoter holdings
these falls seem to rationalize the valuation part also.
Posts tagged Value Pickr
Apar Industries (29-02-2024)
A small sign that expansion work has begun…
Pune investors group (29-02-2024)
Friends,
Have created a telegram group.
Interested ones can join
Link – Telegram: Join Group Chat
ITC: “Will”(s) “Gold Flake” assist “Ashirwad” to win “Bingo!”? (29-02-2024)
Media reported that ITC was planning to enter hospitals some years back. After that, I haven’t come across any further developments.
Pricol limited – OEM automotive (29-02-2024)
Hi, Can you please also share the relevant text from Chapter 87 based on which the department has claimed 28 % ?
ITC: “Will”(s) “Gold Flake” assist “Ashirwad” to win “Bingo!”? (29-02-2024)
It depend on which buyback route the company management prefer. If it is from open market, then BAT may not find useful after it timmed its stake to 25%. However, if it is tender route in which all shareholder get right to sale share to company prorata (subject to small shareholder reservations), BAT shall not mind as despite reduction in share capital, BAT stake would remain in tact in my view.
Disclosure: Among my top three holdings, my view may be positively biased. Not a SEBI registered advisor. Not sugggesting any investment action. No tade in last 12 months.
Shalby Hospitals (29-02-2024)
Shalby Ltd –
Q3 FY 24 results and concall highlights –
Revenues – 220 vs 207 cr, up 6 pc
EBITDA – 47 vs 38 cr, up 23 pc ( margins @ 21.2 vs 18.5 pc )
PAT – 19 vs 15.5 cr, up 25 pc
Standalone Revenues @ 200 cr, EBITDA @ 47 cr, PAT @ 25 cr ( all grew at very healthy rates )
Net Cash ( minus debt ) on books @ 61 cr
Company’s portfolio / businesses –
10 Multi Speciality hospitals across West, Central and North India. A leader in Joint replacement in the represented market
60 OPD domestic clinics + 16 international OPD clinics ( mainly in Africa )
06 Franchisee hospitals
US based Knee and Hip implants manufacturing facility
Total bed capacity @ 2150 + beds, present across 13 cities in India
Q3 operational matrices –
ARPOB @ 37.3 vs 36.3 k
Occupancy rate @ 47 vs 43 pc
Surgery count @ 6746 vs 6782
Hospitals business segmental revenue percentages –
Anthroplasty – 43 pc
Critical care – 9 pc
Cariac – 9 pc
Onco – 10 pc
Ortho – 10 pc
Neuro – 5 pc
Nephro – 4 pc
Others – 11 pc
Hospitals business payor mix –
Self pay – 35 pc
Insurance – 41 pc
Govt – 24 pc
Implants business sales mix –
India – 57 pc
US – 43 pc
Implants business financials –
Revenues @ 21 cr, up 46 pc
EBITDA @ 20 lakh
No. of constructs sold @ 2630 ( 70 : 30 – Knee : Hip )
Company invested 102 cr to acquire 87 pc stake in Sanar International hospital Gurugram. Its current bed capacity is 130, expandable to 180. This hospital caters mostly to international clients ( 68 pc of its revenues )
Still have the vision to grow the implants business to 800 cr / yr kind of sales in 5 yrs
Sanar International is likely to do a 30-35 cr / Qtr kind of topline for next yr. Also, the ARPOBs here are much higher – in the range of 1 lakh. However, current occupancies are low @ around 25 pc. Currently making EBITDA losses
Aiming to do high single digit EBITDA margins from the implants business by end of next yr
Mumbai – is a Greenfield project ( Hospital ) that’s lined up by the company. May take 3-4 yrs to go live
Aiming for 20-22 pc growth in EBITDA for next FY without accounting for the new facilities and inorganic opportunities like the Sanar hospital
Seeing pickup in no of surgeries in Jan, Feb 24. Confident of doing better business in Q4 vs Q3
Disc: holding, biased, not SEBI registered
ITC: “Will”(s) “Gold Flake” assist “Ashirwad” to win “Bingo!”? (29-02-2024)
A buyback has not been possible at ITC because of tussle between BAT and government. Now, BAT stake sell is the primary reason for buyback being a possibility. Plus. It won’t be just BAT but all stakeholders benefitting.
BAT, still has a board representation, will they really agree to a buyback post their stake sale when they have nothing to gain?
ITC is not exactly a fast growing company that goes about with organic/inorganic growth. Most businesses are now generating huge free cash. I doubt if ITC has any plans to enter a new Business field requiring cash, although I wish they enter hospitals or green hydrogen. Buybacks are better for everyone as it reduces float, Raises share price, and improves returns per share in the longer run. ESOPS are not going to be revised anytime soon. A similar reason has made TCS and Infosys darlings of investors as they do buybacks regularly.
The harsh portfolio! (29-02-2024)
Hi Harsh,
Refering to your comments on Kaveri Seeds, you said that its management is over promising and under performing now, compared to the past, where they used promise less but deliver far better.
Do you have data points based on which you can substantiate it?
Amit Saxena