The spin off EX date was 25th Sept, hence one can sell on 25th on Ex basis ,as settlements are T+1 ,hence shares will be debited from account on 26th.
Posts tagged Value Pickr
E2E Networks Ltd – Listed small Cloud computing player (04-10-2023)
Based on the voting results for AGM I have calculated the share holding pattern. Promoter: 59.70 % Institutions holding: 7.67 % Remaining : 32.72
Dhruv consultancy (DCSL): a feasibility study – a path of stones or a smooth highway? (04-10-2023)
@joinjp2003 Nice write up!! I started reading about the company from 2-3 days and you summed up nicely. I also have some observations which needed clarity.
Yeah, this is very high and we need to keep monitoring this. In Annual report, it is mentioned that, there is a difference of INR 8.8 cr in Net current assets between stock statement and audited value. Company explained that the difference is due to not reporting assets (trade receivables and unbilled services) more than 90 days in stock statement. Trade receivables more than 90 days (actually this is more than 3 years) is ~ 3 cr. It means that unbilled revenue more than 90 days is ~ 5.8 cr, which is troubling me. Also, there is one line item “Excess billing to customer which is amounting to ~ 5.6 cr. Does this mean are there any disputes regarding the invoiced amount ?
Also, it is mentioned that trade receivables pertaining to contract balances is 8.8 cr. Then what are the remaining 9 cr pertaining to ?
Company in current year has approved the following with respect to related parties, which appears material considering the transaction size.
| Company | Related party | nature of contract | Duration | Value in cr |
|---|---|---|---|---|
| Samrth softtech | Director brother | consultancy services for traffic survey | 12 | 10 |
| Infovibe ventures | Director husband | Design consultancy | 12 | 5 |
| Innovision studios | Director Husband | Design consultancy | 12 | 10 |
Also, professional and consultancy charges is ~50% of topline in FY2023 and FY2022. Is it common in these types of companies?
Another thing, company has business loan from NBFC of 0.68 cr @interest rate of 14-19%. Why company is taking loans from NBFCs at such high interest rates? Does this mean company not getting loans from commercial banks? If this is the case, then getting BG from Banks for long tenure would be really difficult. Need to understand how much limits company currently has and does it meets the requirements? Already BG outstanding of ~18 cr is there.
I think this is 6.3cr.
Disc: Not invested.
IDFC First Bank Limited (04-10-2023)
It seems that there is a strong need for funds. They have also increased the interest rates for savings bank deposits above 5L. Previously this threshold was 10L.
Shreyas Shipping & Logistics Ltd. – A coastal shipping story! (03-10-2023)
it depends on the timeframe you have, if you are thinking about next month sure the price is likely to go down but i think in the longer term (a couple of years) there are much higher chances of it go higher.
The harsh global folio! (03-10-2023)
Hi Harsh…
Are you still positive about Disney as they are planning to sell their India business though that is profit making?
What are your current view of Stellantis?
Shreyas Shipping & Logistics Ltd. – A coastal shipping story! (03-10-2023)
Thanks a lot, would the bidding be updated on bseindia page if you withdraw? that way we can monitor the changes.
would the share continue to trade post 17th october?
Cheers
The harsh global folio! (03-10-2023)
Global markets have turned very jittery in the past month and I have been finally able to deploy some capital and reduce cash position.
- Increased position size in British American Tobacco to 5% (from 2% earlier). Its just ridiculous the kind of dividend yield this company is trading at. I find it very very hard to believe that there is any chance of capital erosion in this scrip.
- Increased position size in InMode to 5% (from 2% earlier). Since 2019, there have been 4 instances when their valuations came below 4x EV/sales. I have been a buyer at last 2 occasions. Company continues to grow at healthy 20% CAGR and is trading at 14x PE and 18x price/freecashflow. I think its a good opportunity to increase position size here.
- Added 2% position in Fever tree drinks PLC. Fever tree created the mixer drink market with 50% market share in UK. They have foreyed into US recently, where the opportunity size is much larger. In recent times, their margins got hit as glass prices increased a lot and they didn’t pass on price increase as their focus has been on increasing market share. I feel this margin wobble is a temporary issue and company should prioritize market share gains. In terms of valuations, they are trading towards the lower end. On a personal note, I love their mixer drinks!
- Added 2% position in Diageo. Diageo has been a market leader in whiskey and scotch for a very long time, currently they are trading at lower end of their valuations, which gives an opportunity to add shares.
- Added 2% position size in Grupo Aeroportr dl Pcfco SAB de CV. They operate multiple airports in Mexico and have grown tremendously in past few year. I will let the pictures summarize their growth story.
In terms of valuations, they are trading at lower end of their EV/EBITDA range, at 14x PE and 5%+ dividend yield, which I find quite reasonable for their growth profile. Its also a great way to play the Mexican growth story.
- Reduced position size in Vanguard emerging market ETF (from 10% to 5%), Swiss market ETF (from 5% to 2%), and in VF Corp (from 2% to 1%). I am reducing position sizes in ETF as I feel buying shares in cos can give much higher returns. Drop in VF Corp position is due to drop in stock price, its been in a crazy fall since the last year!
Updated cash is around 8% and I am looking to deploy this soon.
| Companies | Weightage (cost basis) |
|---|---|
| Berkshire Hathaway | 10.00% |
| Fairfax India Holdings | 10.00% |
| Vanguard Emerging Markets Stock Index Fd | 5.00% |
| AB InBev | 5.00% |
| Disney | 5.00% |
| Markel Corporation | 5.00% |
| Netflix Inc | 5.00% |
| Suzuki Motor | 5.00% |
| Starbucks | 5.00% |
| 5.00% | |
| Dino Polska SA | 5.00% |
| Inmode Ltd | 5.00% |
| BRITISH AMERICAN TOBACCO | 5.00% |
| UBS ETF CH-SMI | 2.00% |
| Uber Technologies Inc | 2.00% |
| Dropbox Inc | 2.00% |
| DWS Group GmbH & Co. KGaA (DWS) | 2.00% |
| Mettler-Toledo International Inc | 2.00% |
| Fever tree Drinks PLC | 2.00% |
| Diageo | 2.00% |
| Grupo Aeroportr dl Pcfco SAB de CV | 2.00% |
| VF Corp | 1.00% |
| Cash | 8.00% |
Bull therapy 101-thread for technical analysis with the fundamentals (03-10-2023)
@Ash_99 Right now the stock is close to its ATH, but hasn’t given a decent enough breakout from its previous resistance which was made in September of the previous year. Although it did bounce a few days back with great volumes but was rejected at its resistance. Looking at its Daily candles, it does seem like the breakout might come, but it’s better to have a breakout and then enter at a retest than to enter it right now and it might not give a breakout at all.
Power grid – a superior alternative to Invits (03-10-2023)
Hi. Thanks for sharing this detailed analysis. I see that you have used H1FY22 valuation report for this, I think the FY22-23 one would provide a better estimate as the NAV declined according to this report as a result of the increase in WACC.