May i ask for a link to figures ?
on the screener it was 45 few moments ago, now it is 60.
Can we also know these asset figures from any other source ?
D - Not invested.
May i ask for a link to figures ?
on the screener it was 45 few moments ago, now it is 60.
When we usually calculate ROIC (Return on Invested Capital), it is more often the returns being generated on capital that has already been invested, could be a one year ago or ten. We want to know the returns the company can earn on their future investments and to get a better idea of that we try and calculate the return on ‘incremental’ capital invested i.e. incremental recent investments.
A rough way to do that is take the amount of capital the said business has added over x amount years and compare with the incremental growth in earnings (net income) in that period of time.
ROICI = Change in earnings / Total Capital Invested.
In case of Maharashtra Seamless, Total Capital Invested from 2015-2024 was ~2,017Cr, TCI is nothing but (Equity + Debt & CLO - Goodwill). And during the same period earnings increased by ~833Cr, so they basically invested 2,107Cr of incremental capital and earned 833Cr. I’m missing a few decimals here but the return on incremental capital they invested is ~41%.
During the above period, the 2,017Cr was ~68% of their cumulative earnings within that timeframe. So they were deploying/reinvesting 68% of their capital @ 41.3%, so to find out what the entire company’s value is being compounded at, we need to multiple the above two percentages and we get 28.1%.
Historically, a stock’s performance over the course of time either reverts or increases to the rate at which they are compounding their own value.
A great big deal of Indian equities actually have high ROICI, this is because there is a lot of scope for growth and even the largest companies in India by mkt cap can still be considered to be in their growth phase. Perks of being an emerging market with a huge TAM.
The company’s order backlog is (Rs 94000 crore at 3.1x FY24 revenue) and order pipeline remains robust.
Including this contract, management has been guiding for order inflows worth Rs 1.6-1.7 trillion (1.6 -1.7 lakh crore) in the next 2-3 years where the government has already provided approvals, as per ICICI Securities
Heads in Beds, Jacob Tomsky, 2012 - The author (not his real name) has worked in the hospitality business from being a valet to the guy who checked you in or out, to running housekeeping. You get an insiders view of how a hotel functions, from the nitty-gritties of how minibar is replenished or accounted for, to how a bellman works/thinks, to how frontdesk staff can be influenced into giving you a good price or upgrade or even the way the top management runs the hotel and what their priorities are.
Some of the useful things I found - Its easy to get charges waived - especially charges where there’s no real cost/low cost to the hotel. Tip the front-desk staff “before” they give you a room (he works for you now) - but hang back and find the right agent before you do - the one who is most bored but also efficient knows the system well and is likely not a new hire. Make sure you memorise the name, if you are a regular and so on. Be sympathetic because very likely most of the staff is overworked. The bellhop for eg. relies a lot on the tips to supplement his earnings. Don’t be on the phone while you check-in, don’t plonk your card and don’t treat service staff as servants etc.
The perspective of a front-desk agent gives you a slice of the world that is unique and there’s very good observations on the kinds - from families on vacation to business travellers to large groups and even celebrities (author has very good things to say about Brian Wilson of The Beach boys). The book was a breeze to read as it was humorous and includes a host of colorful characters that you could connect with and root for - almost as if it were fiction. I could see a lot of Bukowski influence in the writing (from something like ‘Factotum’ which is a big fav of mine). If you are having trouble starting/resuming reading, or come from reading fiction with no exposure to non-fiction, a book like this is ideal way to get started. 8/10
Quarterly results were pretty decent…other than that no major updates as of now. Trying to connect with some employees…will update if understanding about any new developments come.
Anant Raj going ahead to set Anant Raj Cloud their own data center. As highlighted in concall own cloud service have 4 to 5 times higher margin then renting data center.
Interesting time ahead.
D: Invested
Any trackers on this one?
The recent bribery event of 10 lacs seems like a small amount for such a huge company. Just worried if MORTH or NHAI could debar the company for 1-2 months from participating in any recently floated tenders, or fine them a marginal penalty instead.
Disc: Invested
Hi Vishwanath. If I need to start a momentum portfolio now, is it ok to buy this basket at the current prices? The reason I am asking is because many stocks would have already run up a lot. Or is it still ok as the portfolio is based on momentum strength.
The risk in IB housing is writeoffs of old loan book… Which market is factoring by giving discount to book value.
Considering the dividend stream has started, the recovery in IBHFL looks plausible
As per the filings and company guidance, the next two years roe etc looks conservative to me(i think its already factoring further writeoffs) , any bad hiccups can be severely punished though. They have not been fulfilling their name change dreams, been listening since 3 quarter concalls, but the name remains same.
Risk reward looks favourable at 120-100 per share, however the price has already gone up and hence any further jump from here will be linked to company performance. Dont expect a quick re-rating.
Disclaimer: invested with good allocation.
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