Above article is more informative and talks about short to medium term plan of Solex Energy.

Thanks I will put up , how to measure in next 1 day.

Thanks

There are two stocks that are worth revisiting, two stocks which one can identify with and both are down because earnings have disappointed. One is Reliance and second is D-Mart. You track both of them very closely.

Deepak Shenoy: I have not seen D-Mart as closely, but I saw it recently because of all the news about them losing out to quick commerce. I do not think that is quite the case. But of course, at some level, the quick commerce discounting mechanisms and their concentration in the urban markets where D-Mart is popular, will, of course, hurt D-Mart a little bit more than perhaps Reliance Retail, which has a more broad-based presence and also a portfolio.

So, in general, the retail ecosystem has changed or is changing in India and that is a good thing. We are getting price pressure, which is also a good thing, because that means that the consumers are able to get something at a cheaper price. But such things do not last too long. At some point, we are going to have issues, especially when some of these are foreign-owned companies and have quasi-inventory issues because they own inventory on their books through some kind of a side deal mechanism with some other companies and such things effectively catch an ED notice and then, there will be some kind of action that will come in on the quick commerce setup. All the quick commerce setups have something like this going on, where they are mostly owned by foreign players. But even though they cannot own inventory, they have got their own dark stores in a way and that is not really going to fly well. So, in the short term, we are going to have trouble in retail, long term not much.

Quick & Dirty Reference Material to enable us to put up more relevant questions

1. Installation trends

• As of March 31, 2024, about 68.2 GW of utility-scale solar capacity in India has been commissioned, while another 65.6 GW is under pipeline (where auctions are completed).
• As of March 31, 2024, Rajasthan has maximum installed solar capacity of 19.9 GW followed by Gujarat (10.6 GW) and Karnataka (9.2 GW).
• In FY2024, about 11.7 GW of utility-scale solar capacity and another 3 GW of rooftop solar capacity were added in India.
• In FY2024, the top three states with maximum installed solar capacity were Gujarat (4.8 GW), Rajasthan (3.4 GW), and Madhya Pradesh (0.8 GW).
• For next year i.e. FY2025, about 16.9 GW of new utility-scale solar projects and 4 GW of rooftop/ onsite solar projects are expected to be commissioned.

Annual Market shares- FY2024

• Modules: Jinko, Longi, and Trina were the top three module suppliers in India in FY2024. The Chinese/ International players’ module shipment capacity is anticipated to dip in the next quarter because of the imposition of the ALMM order for solar PV modules effective from April 1, 2024.
• Module Export: In FY2024, the top 3 players, Waaree, Adani, and Vikram Solar, have contributed solar modules exports of about 50-70% of their total production in FY2024.
• Inverters: Sungrow, FIMER and Sineng were the top three inverter suppliers in India in FY2024.
• Project Developers: Adani, ReNew and O2 Power were the top three project developers with maximum solar projects commissioned in India in FY2024.
• Utility-Scale EPC Contractors: Jakson Green, Sterling & Wilson and Vikram Solar were the leading third-party EPC contractors for utility-scale solar projects in India in FY2024.
• Rooftop/Onsite model: Tata Power Solar, Havells and Orb Energy were the leading players that have setup maximum rooftop/ onsite projects in FY2024.
  Source(s):
  Solar Capacity in India: Annual India Solar Report Card FY2024
  ARC 2023 (jmkresearch.com)

Detailed Reference Material for Deep-Dives
2. IEA: Global Renewables 2024 Report Analysis & Forecast till 2030
3. Vikram Solar: Indian Solar Power Market Sep 2024
4. Green Rhino Energy : Solar Power Technologies
5. Oaklane Capital Proprietary: Solar_Master_Note_Oct 2024

In order to extract the most of the opportunity, requesting those interested – Please refer above Reference materials & the Solar Master Note, do some homework of our own, and upload relevant questions to this AMA Solar Industry Fri Oct 25 questions for Kuntal Shah/Oaklane Capital shared googledoc

The microfinance industry is currently experiencing tailwinds, but sustained growth at present levels remains favorable. After approximately six to eight months of subdued performance, we anticipate this trend could continue for another twelve months. Companies like Credit Access Grameen are facing challenges.

A notable risk is the recent action by the Reserve Bank of India (RBI), which has directed four Non-Banking Financial Companies to cease new loan sanctions and disbursements. According to a report by Morgan Stanley, more lending companies may face similar scrutiny. However, this situation presents an opportunity for companies that steer clear of such practices; growth potential may shift towards Northern Arc as a result.