The Bhartia family and Goldman Sachs are joining forces for a significant deal. They are planning to acquire a large stake in HCCB, the bottling arm of Coca-Cola in India. Goldman Sachs will provide substantial financial backing for this venture. The deal involves a planned future listing of HCCB, allowing Goldman Sachs to exit strategically. This move mirrors PepsiCo’s successful strategy with Varun Beverages.
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Understanding Deferred Taxes in P&L (11-11-2024)
Right – that’s what I meant actually (difference in entry between FS and tax reporting statement), probably didn’t articulate it clearly enough. This explanation made it clearer. Thanks again.
New York Times Tech Guild Ends Strike (11-11-2024)
The union said its members would return to work on Tuesday, even though it had not yet reached a contract deal with the company.
Macfos Limited- A niche E-commerce Company (11-11-2024)
Thank you for your explanation, I really appreciate this insight.
I have a slightly critical view though, I don’t think one can compare current quarter receivables to the TTM sales (when receivables were in tighter check). That way, you’re essentially saying that “Receivables aren’t a major issue right now because they haven’t been high with respect to past performance”.
Since 2/3rd of the payment hasn’t even been received this quarter, I don’t think one can be comfortable with the company doing 25 crores of net profit (when 6 Crs of money hasn’t even hit their bank).
I agree that it is very likely that entirety of the 62 Crs of receivable revenue has shifted to B2B. That itself changes the valuation dynamics, since by company’s own admission, their margins are 2/3rd of their margins for B2C. I’m not even thinking about other considerations such as client concentration (for example, what if the vast majority of that 62 Crs was owed from a single client?). I guess I’ll wait for the concall to clarify things.
Thanks once again for engaging in discussion. Really nice perspective from your end.
PG Electroplast – Potential for cooler returns? (11-11-2024)
Q2 FY25
- The company has revised the guidance of revenue from 3650 cr to 4250 cr and pat from 216 cr to 250 cr. And have said that they have orders book to fulfill this till March 2025.
- 370 capex on going in Bhiwadi, Rajasthan for ac and in Noida for washing machines and in the expansion of Supa plant (from 370 cr, 165 goes to product business(plant and machinery) and 185 cr goes to the acquisition of land (infra) and 20 goes to maintenance capex(for plastic molding and sanitary product)
- only looking for organic growth ( when asked if they will acquire some company for growth from 1500 QIP).
- Inventory may seem high because the company said supply chain challenges might be faced in the coming month, so they have kept necessary items in inventory to fulfil guidance.
- The company is not looking to reduce debt significantly right now
- The company has created a separate team to look into the export market. And probably look into export in 1-2 year in Middle East and Africa part
PG Electroplast – Potential for cooler returns? (11-11-2024)
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PG Electroplast – Potential for cooler returns? (11-11-2024)
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Q2 FY 25 concal highlights (11-11-2024)
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SG Mart- Can it successfully create a marketplace? (11-11-2024)
A gentleman named Raj pointed out how guidance might be missed for the year in the concall. He was thorough and had sharp line of questions. If anyone has that transcript please paste here. How can the management continue with guidance of 2% for the year when margins collapsed to 0.8% this quarter.
Disc: Invested
TARSONS products ltd (11-11-2024)
FY25 Guidance was 500 crore if you look at con call.
They acquired another company which has low margin to get entry into Europe which contributes around 17 to 18 crore I think this quarter. so the revenue has hardly moved probably still reeling from the effect of more supply and demand still recovering
Now we can do 2 things. Either invest and hope the expansion of 600 crore will contribute well over next 5 yrs or wait for 3 to 4 quarter to see if they are producing the results and then start adding positions. The other alternative is wait for market downturn where the macro env can provide us with a better entry point which provides a margin of safety
And finally are there not better opportunities elsewhere ?