What listed company is Gravita’s primary competitor?
Posts tagged Value Pickr
Indian Energy Exchange (IEX) (09-12-2023)
Block chain technology is useful for enabling transactions/record keeping in a decentralized trustless enviroment but perhaps not very useful in a centralized markets. Eaxmple if A wants to buy from B, and A & B do not known/ trust each they go to the entity C both can trust. Can be a a marketmaker like an exchange, a regulator, a business etc. for closing the transaction. C’s job is to ensure the transactions take place and also act as guarantor if the transactions fails (one side fails to deliver on the agreed terms). In other words its a centralized market
Unlike a market with high number of buyers & sellers who are all unknown to each other and there’s no or low trust (decentralized market). Blockhain is very useful for decentralized markets unlike the centralized ones.
Usefulness of blockchain tech might have limited applicabilty is centralized markets. Mainly because of all the particiapants are known to each other, and have trust.
It is also to be noted that blockchain in terms of speed of compute is much slower than conventional exchanges, energy intensive, and with higher transaction costs. That makes it challenging to settle transactions in realtime where speed is of the essence. However it maybe noted, blockchain is radically transparent and chances of frauds/ mischief are minimised. Having said that, critics say Blockchain is a solution looking for a problem.
Have been reading about Blockchain disrupting industries for better part of a decade, however yet to see “killer app” or usecase for it.
Note: My understanding is derived from readings of The Bitcoin Standard by Saifedean Ammous and other similar texts.
Godrej Properties – Brand, Business model & Scale (09-12-2023)
The DB Realty fiasco gave a good opportunity to long term investors to enter this scrip at reasonable valuations. It is up 90% from the March lows. The good thing about Godrej Prop is that they called of there deal when they realized it was a mistake. They were not adamant about the same.
Also I like the way they are dealing with the faulty construction issue in Godrej Summit where they are buying back the apartments if the occupants are not confident on GP to resolve the problem. I don’t recollect any RE Co doing the same.
GP has solid land bank to last another three years at the current run rate. As a result they do not require to buy land at exorbitant prices to meet the demand.
Moreover, they have launched their own facility management subsidiary (Godrej Living) like Ashiana Housing to get feedback from users.
GP seems to be trading at fair value as per my back of the envelope calculations –
- FY2024E Bookings: 170.00 lsf
- per Sq Ft Rate: 8000.00
- Saleable Value: 13600 Crores
- Pre-Tax Profit (18% of Sales): 2448 Crores
- Post-Tax Profit (75% of Pre-Tax Profit): 1836 Crores
- Expected MCap @ PE = 25: 45,900 Crores
- Current MCap (08-Dec-23): 53,665 Crores (1930/share)
Please note this is NOT a buy or sell advice. I am NOT a SEBI registered adviser.
Praj Industries (09-12-2023)
Order book and execution are quite far from each other. Execution can get delayed due to the clients postponing, especially if many orders were from companies planning to use Sugar to manufacture Ethanol.
Look at MTAR’s order book and guidance, it dropped significantly this quarter due to orders getting pushed to next FY due to US recession. I expect similar for Praj Industries.
Also, promoters had started selling actively before the official announcement. Smart people would have seen this announcement coming, due to election as well as lower sugar productiion.
Disclosure: Invested small quantity.
Real Estate (cycle) – Will pessimism give birth to multibaggers! (09-12-2023)
Unsold inventory will generally mean that the RE Co is launching and constructing more units than there is demand in the market or there could be a pricing issue. Please do note that the large RE Cos start constructions only when they have sizeable bookings and they have a sense of the RoE.
A RE Co will only keep inventory for strategic purposes if they foresee a future price rise in the specific location. A case in point is Godrej Prop – They have put the Panvel project on hold as they are waiting for the trans-harbour link to be opened.
Praj Industries (09-12-2023)
Let us look at Praj order book at Rs5000 crore which means next 18 months – their hands are full. what I have noted from the Q2 concall and a very recent analyst meet ppt on 29th Nov, 2023 by Praj is that they are on track with respect to their financial goals and the business strategy they have.
Praj Analyst Meet on 29 Nov, 2023- outcome
How to register with SEBI as a Research Analyst? (09-12-2023)
RA CAN Only recommend (i.e. BUY/HOLD/SELL with targets/duration) a stock or a set of stocks, BUT CANNOT recommend % for each stock as part of portfolio. The % part is job of RIA who will suggest it for an individual as part of Individual’s risk appetite and goals.
HIRING: Research Apprentice (09-12-2023)
Position Type
Remote
HIRING: Research Apprentice (09-12-2023)
interested but have an issue with location because currently I am in New Delhi.
Gensol Engineering – A play on Energy Transition (Solar Energy & EV) (09-12-2023)
Unable to read as I’m not a subscriber. Know of any trick to bypass the paywall? Or if possible you can share the text here