Sales growth of Vidhi is far better than Dynemic..evn for last quater Vidhi result was far better than Dynemic
Posts tagged Value Pickr
Avanti Feeds (03-09-2015)
Avanti Feeds to consider sub-division of equity shares
http://www.bseindia.com/corporates/anndet_new.aspx?newsid=58f49e12-bea9-474f-96bc-01c66b6ba660
Forensics and the art of triangulation (03-09-2015)
I was referring to Amit's post of 12 days ago..Point 1 on auditor and Point 2 on Remuneration
Premco Global — Narrow Fabric (A critical component for inner wear) (03-09-2015)
very useful thanks a lot dhiraj - i was long worried about this margins - seems a credible story. will look at adding more on dips.
Forensics and the art of triangulation (03-09-2015)
Dear @ashwinidamani
Can you give us some hidden gems that failed the test of Point 1 and Point 2? We can then learn the conditions under which they fail.
Warm regards,
Dynemic Products (03-09-2015)
I have one question related to chemical industry. How these small indian companies are able to export their colors or dyes to other countries out side india, especially to european countries. How do they compete with large foreign players. Is it because of more stricter norms in manufacturing of chemical outside india? Could not reach a conclusion. Do they have pricing power as compared to foreign companies?
Forensics and the art of triangulation (03-09-2015)
Any one point alone is probably not sufficient to disprove an investment thesis. If the company fails on several points, then I think we need to be a bit circumspect.
However, I do not know of many companies which have not demonstrated an ability to generate +ve FCF over a long period and yet are "gems". Companies create value by generating sustainable FCF. I am kinda new here and not aware of the Valuepickr gems that you are referring to.
Thanks.
Premco Global — Narrow Fabric (A critical component for inner wear) (03-09-2015)
@varadharajan
Partially about high margin, nothing per se mentioned in AGM expect of superior input mix in favour of low cost polyester replacing high cost nylone, some light is thrown in page 10 of Annual report FY15. In point (iii) about R&D, the company did covered about high speed muller machines. I enclosing link of annual report
http://www.premcoglobal.com/reports/PREMCO-GLOBAL-LTD-ANNUAL-REPORT-2015.pdf
Relevant extract is as under
(iii) in case of imported technology (imported during the last three years reckoned from the beginning
of the financial year)-
(a) The details of technology imported High speed Muller machines - This is the best technology available for weaving elastic tapes. The company has imported 2 Muller machines which can weave wider width tapes replacing old looms. The company had also imported higher hook J/Q machines to weave wider J/Q designs where the market is improving. These J/Q s will manufacture mostly high value added items.
(b) Above said Technology was imported during the current financial year ie. 2014-2015.
(c) whether the technology been fully absorbed Technology has been fully absorbed and company has replaced "rubber warp beam system" with individual package system resulting in higher utilization of covering machines. Also the machines were modified in house to give a bigger package (2kg instead of 1 kg) reducing wastages in warping and increasing the productivity in covering. The company has replaced one rubber warping machine with a high speed machine which runs at almost double the speed which has resulted in reduction in employment and The company has also started replacing 6 head looms with 10 head looms resulting higher productivity / Production value.
Also, export realisation are better for the company as compared with domestic realisation + export benefits. Hence, we shall also compared extent of exports between competitor (mostly comparable being SPICA).
@saras
The first in note partially provide management view point on qualification which should not have taken place at the first place. But that was explanation, CFO provided in AGM. Upto each of us, how we interpret that.
The CS is now appointed. You are correct that one CS left in 8 days as mentioned in AR. Personally, I may contribute it to be not comfortable with new role and set-up. The New CS HARSHA KAUR AJIT SINGH HOTSINGHANI has joined from June 22, 2015 and currently continue to be with the company which is more than 2 months so to say
My Portfolio – Dhina (03-09-2015)
Through out this market fall, Britannia industries is looking pretty interesting. I have not reached the level to put a detailed analysis on this script (Who knows. I may put it soon). This particular stock shows good resistance.
Views are most welcome !
Garware Wallropes (03-09-2015)
AGM on 2nd Sep & was addr by Mr. Vayu Garware CMD.Highlights by Capital Mkt
Newer Geographies, more and innovative products, more sale of high value added products, higher exports etc were the main reasons for around 14% growth in sales and about 61% growth in PAT for FY'15.
Based on user industry, broadly Company's business is divided into various segments such as Fishing, Aquaculture, Agriculture, Geosynthetics, Sports, Coates fabrics, Ropes etc. Fishing is more of traditional business which is about 20% of total turnover, Aquaculture constitute about 15-20%, Agriculture about 15-20%, Ropes about 13%, Sports about 10%, Geosynthetics about 7% and rest would be from various other segments.
Company launched several solutions in Acquaculture industry, which was well received by the markets and particularly in exports. Management expects the segment to continue to do well in FY'16 as well.Exports now account for about 49% of total sales and grew by about 13% YoY in FY'15. Management expects export to hover around 50-55% of total turnover. Company exports to more than 75 countries. North America, Europe and Australia are the major markets.There was a forex gain of around Rs 1.35 crore for FY'15 as compared to forex gain of around Rs 6.75 crore in FY'14
Geosynthetis is probably the only segment which did not pick up well, as compared to other sectors, given slower reforms and not much infrastructure activity going around.The company has sufficient capacities with latest technology to meet the increasing demand in Pune, Wai and in Silvassa.On defense side, the company is present in a very small way in the form of weather proof enclosures.The value added businesses like Aquaculture, Agriculture, Sports etc are growing very well for the company, while the traditional businesses of fishing is more or less steady.Sports, which is around 10% of net sales is growing strongly. Lot of export market opportunities await in this segment.
The prices of major raw materials, both PP and HDPE were lower on YoY basis. Company either imports them or procures from RIL or other local players. While generally the lower raw material costs is a pass through, the company is able to retain some benefits in value added products..Margins in the new business remain high. Management is confident of sustaining the margins of around 11% as reported in Q1 FY'16.
Overall, the company aims to clock turnover of about Rs 950 crore by FY'16 with Agriculture, Aquaculture and Sports being main drivers of growth with higher operating margins.