IGPL has good CAGR but it was because of fall in oil price which led to increase in margin ,Its largest and lowest cost producer of PAN in India & and only MAN manufacturer in India .
Here are pictures of slides in the ppt
the company also makes full use of byproducts made while manufacturing PAN by making benzoic acid & MAN of it
the company is also planning to CAPEX
the only thing left keeping company behind is margins
I don’t have access either. Looks like this video is a summary of this same article:
Fundamental Radar: Why Kilpest India is poised to test ₹1,184 in 12 months? Sandeep Raina explains
CMS Infosystems had declared their results yesterday not Radiant
Results are still awaited
Keep updating the learnings
I tell myself that the historical valuations are indeed…historical. Based on the current position of competing private banks which are all in very good shape, growing very well, well managed now and corp governance issues non existing (I hope), Kotak and HDFC bank may not enjoy the historical valuations going forward. So I expect that 3x may be the valuation going forward…which means from here, the stock price may move along with improvement in the book value, and no rerating in P/B multiple.
value trap nothing else I have to say. please avoid.
People who have invested into this stock, what is your take after yesterday’s result?
Just listened to the concall – pretty much aligns with my perspective.
A back of the hand calculation for an investment horizon of 3 years is as under.
Figures as per screener:-
Sales growth h1 fy24 = 65.56% (much less than the previous years)
PAT margin for this qtr = 6.38% (don’t think margin can go below this)
Estimated sales for fy26 = 3507.82
Estimated PAT for fy26 = 223.8
Estimated PAT CAGR = 44.73%
No major equity dilution expected.
Ttm PE at CMP = 34.64 => PEG of less than 1 which shows it is undervalued.
P.S. This is not to be construed as a buy/sell recommendation but a perspective on the valuation.
@Amit2saxena @mahesh_s
Thanks for seeking my view, although not sure how much it would be useful. I have gone through your postes and the past release of Embassy REIT for Q4FY2023. They have provided detail calculation including most of heads to derive at NCDF for Q4FY203 and FY2023.
I am enclosing same for everyone reference. I find this relatively simple to understand rather than working on my own from financial given my limited understanding. One can easily get understanding of what contribute positively and negatively in NCDFC from P&L and Cashflow .
While it may oversimply, I can not understand complex things and try to keep my life simple.
Total EBITA in P&L for FY23 is Rs 26,884.99 mn as displayed in message 259 as against Rs 27,856 Mn as shown in enclosed table. The difference is around Rs 971.44 mn can be attributed to Dividend income from Golflink being Rs 920 mn. So unexplained difference of Rs 51 mn, which is not very large given the operating matrix in my view.
Embassy REIT FY23 Reconciliation of NCDF with P&L.xlsx (9.6 KB)
Disclosure: Embassy REIT is my third largest holding in Debt portfolio and hence my view may be positively baised. I may change my allocation (increase/decrease/exit) from Embassy REIT wihtout informing forum. I am not SEBI registered investment advisor. I am not recommending any investment action. I am not CA and hence my understanding about accounting may not be correct.