As per the block deal data available with the BSE, Bofa Securities Europe SA offloaded 7.21 lakh shares of Jio Financial Services, disposed of 7.22 lakh shares of Infosys and sold 7.72 lakh shares of private sector lender HDFC Bank.
Bofa Securities Europe SA also disposed of shares in TVS Motor Company, Dabur India, and Page Indust
Ideally one would want both topline and bottom line to increase. I just checked the margins have increased primarily due to lowering of material cost( which will not continue to slide for ever) from 61% to 47% while their employee cost has gone up from 8.14% to 13.33%.
Hi Do they actually manufacture all they have listed on their website or branding chinese equipments bought in bulk. As for the consumables the margins are maintained high by the hospitals while suppliers dont get a kings share.
I am an avid follower of Systango (Invested)for last 9-10 months. I track them from head to toe on a daily basis through internet, glassdoor, ambition box, indeed, personal contacts, investors, you tube, various forums etc. I will summarise my tracking observation as soon as I find some time.
SYSTANGO
Market cap…~450 cr
A digital engineering services company.
Available at good valuation P/E 25
Topline /bottom-line uptrend
OPM ~30%
zero debt
Offices at India, UK, USA
Mobile app.development
Data engineering, AI/ML/Cloud
blockchain…at much more
A story that just started.
Disclosue…Invested.
Do you still hold Magson retail ? They announced to plan more stores during IPO but no I couldn’t find any news / data relating to new stores. Their key stores in Gujarat / Ahmedabad is definitely a big plus considering the way how Gujarat is expanding.
AVL.pdf (350.1 KB)
A meeting of the Board of Directors of the Company is scheduled
on Tuesday, January 30, 2024 to consider and evaluate, inter alia, a proposal to raise funds
by issuance of equity shares or other securities including through preferential issue, qualified
institutional placement, rights issue, or through any other permissible mode or a combination
thereof, subject to such statutory/regulatory/contractual approvals as may be required,
including approval of shareholders of the Company, as applicable (the “Issue”)
While we may not have precise information on the exact amount IDFC First Bank plans to raise from the market, if we extrapolate the same equity base growth observed in the last five years, we can make an estimate. In my opinion, they may not need to raise the same amount of equity as the Profit After Tax (PAT) has significantly improved, which was almost negligible five years ago.
Total number of shares as of January 5, 2018: 478.15 Crore
Total number of shares as of December 31, 2023: 706.68 Crore
CAGR of the Equity base(2018 to 2023): 8.143%
Total shares after the merger of IDFC First and IDFC Ltd: 690 Crore
Projected total number of shares as of January 1, 2029, with the same CAGR of 8.143%: 1013.84 Crore
Projected EPS : 13000(Guidance 2.0)/1013.84 = 12.84
Hi @Surender
I am not updated on whirlpool from more than 02 years now since i exited my position completely in late 2021. I will still try to explain my evolving understanding regarding this sector over last few years.
First of all, the 02 most important traits which are required for sustainable weath creation for a very long period of time (decades) are megatrends and leadership (explained very beautifully by Mr Utpal Sheth of RaRe enterprises). Consumption is one of the biggest megatrend in india and it will remain so for foreseeable future because India is such an under penetrated market and now growing one of the fastest in the world (combination of low base and very high growth makes consumption in India one of the megatrend). You can also call it a sector with long term tailwinds or a sector where Total Addressable Market is very large and growing. Whirlpool ticked this box for me back in 2020.
Story is very simple as of now. Now it comes down to the second trait which is to find out companies which exhibit leadership qualities among these megatrend sectors and themes. These factors are also simple to analyse by asking basic fundamental questions like
Does company has high market share and is compamy gaining market share from peers? (growing faster than the industry)
Company margins are volatile or stable over long periods of time across cycles (commodity element or brand).
Are return ratio like ROE, ROCE significantly high and no reduction in ROCE after deploying incremental capital in the same business? (This will tell us if growth is coming by going down in value chain or by going up, basically capital allocation strategy of the company).
How are margins comparable to peers? (May not necessarily be high but better than peers. Amazon and APL apollo have created great businesses even if margins are quite low because of better efficiency and inventory turns. So, return ratio remains high)
Are company products susceptible to technology change? If yes than what is the attitude of company towards R&D and keep developing thier own products for better.
Does company has a very strong moat (either supply side or demand side or both).
The answers to most of these questions in case of Whirlpool were not very positive. Hence the exit (obviously i realised this over a period of time after giving sufficiently longer rope and did not act on a very short term performance).
Now coming to third part of my understanding. Consumption remains a megatrend but finding companies which exihibit leadeship qualities is the key. There will be many sub sectors among consumption where no company will exibit such qualities. Few industries and sectors are just gruesome and difficult businesses. Consumer durables like refrigerstor, washing machine and air conditioners may be simply selling like commodities. Reasons can be multiple like excessive competition, no product differentiation other than cost etc but leave those reason for some other day, that will be beyond the scope of this write up. Available data point towards commodity nature of business among these products.
Coming towards last part. Understanding of profit pools is important. We have to understand that in any particular industry, there will be multiple entities responsible for bringing a product from factory to end user. Somebody may be supplying a critical part, somebody may control the distribution and the supply chain (e-commerce companies), somebody may own the the customer (platform companies). These are just few examples. We have to understand who is making the highest margins or who get to keep the highest amount among this entire value chain.
Disclosure: No holding. exited long time back. Found better opportunities in retail like Aditya Vision, Redtape and Senco gold.