Posts tagged Value Pickr
HBL POWER SYSTEMS: Booting-up for the Race of the Century (10-07-2024)
My notes from concall ( havent noted writing what i remember )
The Revenue projection for 2024-2025 does not include Kavach (new orders) / Grenade & Fuse & truck conversion .
Grenade & fuze & truck conversion have a large market .
Fuze are in testing phase & after usage in real time big orders may start flowing ( 2025-2026)
Kavach billing also will happen next year for order that come this year.
Defence batteries have a good growth , industrial battery will maintain the run rate.
Overall exited for next year as the growth can come.in big way in 2025-2026 .
Disc -biased Invested since more than a year.
My portfolio updates and investment journey (10-07-2024)
Hi community members. Our firm Korman Capital has done study on Auto Ancillaries (Auto Ancillaries - A high growth manufacturing and consumer play) and EMS sector (EMS – A baton holder of India’s manufacturing renaissance). Please feel free to refer for your learnings.
Please note that idea of these studies is not to pick stocks but to understand the sector in-depth as much as possible. Study helps us in differentiating one player from other.
Please do refer to disclaimers.
Disclaimer: I am not a financial advisor and nor a SEBI registered Analyst. The content shared here is only for learning purpose. All the names mentioned here are for example purpose. I may buy more, exit or partly sell the stock/bonds without any prior intimation . Also note that our investment advisory firm might have recommended some of the stocks. My portfolio update is not a recommendation for anyone. Some of these stocks might be in clients portfolio as well so please be aware of vested interest.
Manappuram Finance (10-07-2024)
Top Chartbuster Stocks In Trade Today | What's The Buzz In Manappuram Finance | Stocks In News
Looks like ashirwad IPO will come in July
Something is cooking
Cup and handle
Momentum
Twice traded with big volumes in last 2 weeks
Garware Hi-tech films (Earlier Garware polyester) (10-07-2024)
On the top right, a link for polymer prices is given, under that you will get all the product list which come under polymers.
Polymers per se is a very huge category and each category has various different grades.
Shalby Hospitals (10-07-2024)
Shalby Ltd -
Q1 FY 25 concall and results highlights -
Revenues - 288 vs 240 cr, up 20 pc
EBITDA - 55 vs 47 cr, up 15 pc
PAT - 15 vs 20 cr ( due higher Interest and Depreciation costs + increased tax rate )
Net Debt @ 168 cr
RoCE ( annualised for Q1 ) @ 13.6 pc
Hospitals business highlights ( only of standalone business ) -
Revenues - 240 vs 216 cr
EBITDA - 58 vs 49 cr
PAT - 30 vs 26 cr
Company’s Hospitals portfolio -
Hospitals - 16 - 11 multi speciality, 05 single speciality
Company owned and operated units - 10
Franchise units - 6 ( FOSM - 4, FOSO - 2 )
Bed capacity @ 2350
Doctors team @ 1150
OPD clinics - 60 Domestic, 23 International
Payor Mix -
Self Pay - 35 pc
Insurance - 41 pc
Govt Schemes - 24 pc
Operational matrix of Shalby Sonar Hospital ( acquired LY ) -
Revenues - 24 vs 20 cr
EBITDA - (-) 0.35 cr - company is confident of turning this around in near future
ARPOB - 79k
Occupancy @ 26 pc
56 pc of revenues generated from international patients
Bed Capacity @ 130 beds
Expertise in Kidney, Liver and Bone marrow transplant
Homecare business clocked a revenue of 3.7 vs 3.6 cr YoY. Patients served @ 7.3k vs 7.6k YoY
Revenues from FOSO hospitals ( franchise owned, Shalby operated ) - 2.6 vs 1.5 cr
Revenues from FOSM hospitals ( franchise owned, Shalby managed ) - 0.75 vs 1.1 cr
Signed up a new hospital under FOSO model @ Rajkot with a bed capacity of 25 beds
Implants business -
Revenues - 26 vs 16 cr
EBITDA - (-) 0.7 cr (-) 0.35 cr ( due front loading of a lot of marketing expenses )
Implants sold @ 3475 vs 1410 pieces
India sales @ 56 pc, US sales @ 44 pc
Company has sharpened its focus on cost cutting wrt their implants business and hiring multiple vendors for supply of similar components
Company is the largest hospital chain in the world in terms of Joint Replacement surgeries performed
Consolidated occupancy rates stood @ 50 pc ( clearly there is a lot of scope for improvement )
Company believes that weakness in homecare business is an aberration. Should see a pick up in the coming Qtrs
Expect Sanar hospital to be EBITDA positive going fwd. Aim to make it PBT positive by end of FY 25 or thereabouts
The Rajkot FOSO Hospital should go live in Q2. A few more Franchise deals are in the pipeline. Company is not disclosing them as yet due competitive reasons
Higher finance costs in Q1 due higher working capital requirements of the implants business and the additional debt taken up for the Sanar acquisition. Higher finance costs will only moderate by next FY once the Implants business stabilises
Disc : holding, biased, not SEBI registered, Concall and results summary posted only for educational purposes
Ranvir’s Portfolio (10-07-2024)
Shalby Ltd -
Q1 FY 25 concall and results highlights -
Revenues - 288 vs 240 cr, up 20 pc
EBITDA - 55 vs 47 cr, up 15 pc
PAT - 15 vs 20 cr ( due higher Interest and Depreciation costs + increased tax rate )
Net Debt @ 168 cr
RoCE ( annualised for Q1 ) @ 13.6 pc
Hospitals business highlights ( only of standalone business ) -
Revenues - 240 vs 216 cr
EBITDA - 58 vs 49 cr
PAT - 30 vs 26 cr
Company’s Hospitals portfolio -
Hospitals - 16 - 11 multi speciality, 05 single speciality
Company owned and operated units - 10
Franchise units - 6 ( FOSM - 4, FOSO - 2 )
Bed capacity @ 2350
Doctors team @ 1150
OPD clinics - 60 Domestic, 23 International
Payor Mix -
Self Pay - 35 pc
Insurance - 41 pc
Govt Schemes - 24 pc
Operational matrix of Shalby Sonar Hospital ( acquired LY ) -
Revenues - 24 vs 20 cr
EBITDA - (-) 0.35 cr - company is confident of turning this around in near future
ARPOB - 79k
Occupancy @ 26 pc
56 pc of revenues generated from international patients
Bed Capacity @ 130 beds
Expertise in Kidney, Liver and Bone marrow transplant
Homecare business clocked a revenue of 3.7 vs 3.6 cr YoY. Patients served @ 7.3k vs 7.6k YoY
Revenues from FOSO hospitals ( franchise owned, Shalby operated ) - 2.6 vs 1.5 cr
Revenues from FOSM hospitals ( franchise owned, Shalby managed ) - 0.75 vs 1.1 cr
Signed up a new hospital under FOSO model @ Rajkot with a bed capacity of 25 beds
Implants business -
Revenues - 26 vs 16 cr
EBITDA - (-) 0.7 cr (-) 0.35 cr ( due front loading of a lot of marketing expenses )
Implants sold @ 3475 vs 1410 pieces
India sales @ 56 pc, US sales @ 44 pc
Company has sharpened its focus on cost cutting wrt their implants business and hiring multiple vendors for supply of similar components
Company is the largest hospital chain in the world in terms of Joint Replacement surgeries performed
Consolidated occupancy rates stood @ 50 pc ( clearly there is a lot of scope for improvement )
Company believes that weakness in homecare business is an aberration. Should see a pick up in the coming Qtrs
Expect Sanar hospital to be EBITDA positive going fwd. Aim to make it PBT positive by end of FY 25 or thereabouts
The Rajkot FOSO Hospital should go live in Q2. A few more Franchise deals are in the pipeline. Company is not disclosing them as yet due competitive reasons
Higher finance costs in Q1 due higher working capital requirements of the implants business and the additional debt taken up for the Sanar acquisition. Higher finance costs will only moderate by next FY once the Implants business stabilises
Disc : holding, biased, not SEBI registered, Concall and results summary posted only for educational purposes
HBL POWER SYSTEMS: Booting-up for the Race of the Century (10-07-2024)
Yes you are right. However the revenue from new KAVACH tenders in unlikely to come in this FY. On the concall they mentioned that after tender announcement Railways takes 6-7 months for awarding the contract. Execution starts after that. So newer tenders will reflect in financials in FY26 only.
HBL POWER SYSTEMS: Booting-up for the Race of the Century (10-07-2024)
Hi Amol, the forecasted revenue of FY25, is excluding any new KAVACH orders? If there is a tender out, the revenue might increase?
Is my interpretation correct?
Glenmark Life Sciences (10-07-2024)
Any views on OFS by Glenmark?
Personally, I feel that this will remove the overhang of Glenmark balance stake sale and may be long term investors get in around 810 levels.
I am also considering adding more and pyramiding my stake as the margins are amongst the best in category and Mr Yasir leadership will help in decent growth in coming years.
Nirma future plans remain unanswered but seems there will be more clarity incoming quarters.