IMHO, this is among the companies that is high on EBIDT and low on PBT.
Disc: Holding 20% of my portfolio in this company, long term ;-(
Posts tagged Value Pickr
CCL Products (07-01-2024)
IZMO- bet on new technologies in Auto retail & defence (07-01-2024)
Let me try.I am taking this data from screener.
From cash flow, FA purchased in 2023 is 30.
Depreciation for 2023 is 12.
So Op bal 229+ additions 30- assets sold 0- dep 12 gives Cl bal 247.
Regarding wdv of asset sold, when an asset is sold, Cost of asset sold is deducted from total cost.
Acc dep of asset sold is deducted from total accumulated depreciation and any difference is profit or loss.
IZMO- bet on new technologies in Auto retail & defence (07-01-2024)
Thanks @Denny_David, but I don’t exactly follow. Possible for you to please use any year, say FY 23 to illustrate this with numbers for IZMO?
And what does ‘written down value of FA sold’ mean?
I take it that the depreciation they’ve mentioned in largely amortization as most of the FAs are intangible assets. Is this true?
Sorry for a lot of basic questions, and that you for your patience.
IZMO- bet on new technologies in Auto retail & defence (07-01-2024)
I think the missing link is depreciation. The net addition in fixed asset block is Opening Balance +Additions- Written down value of FA sold -depreciation for the year.
IZMO- bet on new technologies in Auto retail & defence (07-01-2024)
In fact, at 800cr valuation for Frog, and with 65% postbdolution holding for aiZMP, this stake itself will be worth 500cr for IZMO. Assign whatever holding company discpunt that you must.
The operating cash flow conversion looks amazing too, at over 100% over the last 4 years. On first principles, this does look like a no brainer if theyvare able tonachieve their growth guidance as RoEs will improve and the stock can re-rate.
However, the constant increase in intangible assets worries me a bit. I’m not sure what these are exactly, and how business critical they are. Also, the cash flow statements over the past few years have shown fixed asset purchases of 35cr, 24cr, 22cr and 29cr in FY 20 to FY23. However, on the balance sheet, I see a fixed asset increase of only 19cr, 5cr, 12cr and 18cr respectively. How does this reconcile?
P.S. Accounting is not my greatest suit and please educate me if I’m reading this wrong.
No positions yet
PSP Projects – Construction Company (07-01-2024)
Whats latest update on PSP Projects? Stock has been underperforming since 1.5 years and giving negative returns?
Srivari Spices and Foods Limited (07-01-2024)
Please avoid , I can’t talk more than this .
Vivek Gautam Portfolio (07-01-2024)
Meet the Market Masters | Anil Kumar Goel | Chennai
Dont get dismayed by 1 hour duration tape. Double the speed . Pure Gold must watch
Multi-Disciplinary Reading – Book Reviews (07-01-2024)
@phreakv6 As always your reviews all gives good essence of the book. Vipassana teaches the same but in actual feeling. At least for me its tough and painful but if one sit for those ten days the person will have life time experience. Everyone should experience alteast once.
Thanks for the review.