Here https://www.screener.in/company/ZENTEC/ in the Pros & Cons it's written that the promoter's stake is down & promoter's stake is up.
What's going on here?
Posts tagged Value Pickr
Intellect Design Arena PICK for 2015 (09-11-2015)
@hrishikesh
Hi, Since you have done extensive work on the company, can you please clarify some doubts for me?
You have moved ahead in your projections by creating an expense schedule assuming 50% gross profit margins. However can you please make me understand how can we get that by the current expenses schedule shown in the annual report. There are two major head of expenses in the Income Statement for 2015 i.e Employee costs & Other expenses. The former is 88% of sales while the latter is 26% of sales. Now while checking the schedules out of 530 crores of employee expenses for 2015 500 crores is for salaries which i believe include the expenditure for R&D as well. However is their any way of finding out how much from this expenditure goes under the head R&D and how much is normal employee cost. Secondly, of the Other expenditure of 158 crores for FY 15 30% is travelling expenditure while business promotion is just 10% of the head. Now, i just want to understand that should i take the promoter's word on the numbers or is their any way by which we can validate the projections through the accounts as well. I am very new to this sector hence the query
Page industries (09-11-2015)
Q2 Results out:
Revenue up by 16% from 396 cr to 461 cr.
NP up by 21% from 49.90 cr to 60.2 cr
Pat margin increases to 13% from 12.5%.
Other income 48 lac vs 6.2 crores. (virtually nil other income this qtr)
Long term borrowings come down to 30.85 crores from 34.53 crs
Short-tem borrowings come down to 25.52 crores from 99.86 crores
Interim dividend of 21 for this quarter in addition to 19 paid in the previous quarter.
Page industries (09-11-2015)
Page FY 16 Q2 results are out:
Revenue growth about 16% and Profit growth about 20%. It looks like Page is slowing down a bit. I'm concerned with the high valuations and as I see it upside is capped and is either open to a bit lower levels or under go time correction. 16% top line growth is good in this environment but I think the current valuations more than capture this kind of growth.
Balance sheet - Company paid off short term borrowings with the profits during the year, so finance costs may go down a bit in coming quarters.
It looks like there is minimal benefit of cotton prices falling so far on the P&L. So the full year EPS could be around 220. Also, I do not see any increase in other expenses where the company could be showing advertising expenses. Strange, something is amiss here for my brain.
As usual, dividend of 21 INR.
MPS Ltd (09-11-2015)
I think few issues about MPS needs reiteration (may be at the cost of repetition) ....
1) MPS is in a business where outsourcing was not a default choice for end customers. Because, it is the end product of the customer; not something happening in the back end to improve profitability or efficiency or stuff like that. It the the FINAL PRODUCT which a player like Elsevier or Cengage give to its end customers. So, the emotional, strategic, executional involvement of the customers with MPS type companies would be extremely high. And this engagement would evolve slowly and steadily.
2) Inevitability of customers of MPS giving away more and more jobs / projects to players like MPS would be evident if we study the financial and market performance of many of the publishing giants who are in the listed space .... All of them are suffering profitability pressure and are laggards in the market. But their pre-eminence as a publisher is undisputed and would remain so for many many years because of their reach, association and credibility in the academic field.
3) MPS is not a high tech business ... Their transition from a BPO to Technology player is some time away, if at all. They are among those companies who are trying to solve a problem for its end customers .... "How to produce a technical journal or a book without compromising on any factor of output at a lower cost" .... Cost / Ease / Volume are three key determinants ... On Cost, Dehradun is their answer; On Ease, a technology platform, integration with vendor is their answer; On Volume they have readiness with 50% unutilized capacity in Dehradun. But it would come once Cost / Ease / Quality gets firmly settled in the mind of the customer.
4) Large acquisition failure is the single biggest risk factor for MPS .... I think customer decamping them for a lower cost is a negligible probability event. MPS has shown success in turnaround and tiny acquisitions. My gut feel (no solid reason to back) is they would do well if they do smaller acquisitions slowly than some big bang acquisitions as cost of failure would be unbearable. And, I don't think, MPS has the operational capability or management bandwidth to manage large acquisitions.
5) .To me a modest investment case is built on assuming a 12% revenue growth, 15% profit growth from organic business and a 20% - 25% margin from a Rs. 200 - 250 Cr additional revenue from inorganic / unutilized capacity led growth in 3 years. So, a Net Profit of about 125 - 150 Cr. over 3 years + dividends.
My though note after management meet and an investment template prepared is being shared.
Disc.: I am invested and no transaction in last 30 days.
MPS Thoougt Note sept15.docx (15.4 KB)
MPS Ltd Sept15.ppt (234.5 KB)
Gold and Silver technical analysis for next week (09-11-2015)
Look at the above silver daily chart, there's right arrow clearly indicating fictitious break of the silver and on next day it broke trendline & closed below it. That’s why we have seen big down fall.
Now if silver close above to 14.815 level then we will see 15.100-15.400+ levels. And if it makes 1-2 down candle then it will follow red line big arrow and hit 14.500-14.400-14.300 below levels.
If you're long-term buyer then you must wait or keep patience!
I think it's password protected or maybe only login users can be read it. But whatever, this silver prediction looking awesome!
Guys you may check it here: http://moneymunch.com/free-commodity-gold-and-silver-technical-analysis-tips-09112015/
thxs 
Ajanta Pharma (09-11-2015)
Thanks, Vaibhav. How about 3 to 4 approved ANDA's. Will it take 2 years for it to have an impact ?
Ajanta Pharma (09-11-2015)
Brijwanth, You are not considering the potential impact from Generics expected to be on Shelf from Jan 2016 .
Does it mean its impact on revenue would take time. I am still learning about Pharma Space, So keen to know all your views.
Disc : Invested recently 3% of my portfolio
Avanti Feeds (09-11-2015)
Trade Payables and Current Liabilities have a very thin line.
For eg. Payables for RM would be Trade Payables, but payables for logistics costs would be Current Liab.
Often companies have confusion and auditors make them reclassify such figures.
Even in Avanti's financials, the biggest component of Current Liablities is Creditors for expenses
Avanti Feeds (09-11-2015)
During the year Inventory writedown is typically not routed through provisions. It would be adjusted in Inventory Valuations itself. So there typically is never a writeoff of Inventory Provision in financials.
In case of Avanti, provisions include -
1. Proposed dividend
2. Dividend Dist. Tax
3. Provision for tax
If they are planning a slump sale/transfer of shrimp processing unit, there would be a Capital Gain Tax for that which could affect Provision for Tax figure.