Hi @Chins,
What do you feel about the results of Kanchi Kapooram & Mangalam Organics ?The results didn’t show much of margin improvement as well as revenue improvement. Do you think the camphor cycle will play up looking at the shortage ?
Posts tagged Value Pickr
Chins’ Portfolio (13-06-2024)
Buy Unlisted Shares (12-06-2024)
I’m considering investing in unlisted shares of Ola Electric and Waaree Energies Limited, especially since both companies are planning to launch IPOs soon. Given the current craze in the IPO market, securing an allotment has become nearly impossible. This has led me to explore the option of adding shares of these companies to my portfolio before they go public.
However, I’m a bit hesitant about Ola Electric. Their Profit After Tax (PAT) is still in the negative, which makes me uncertain about their valuations. On the other hand, Waaree Energies seems like a more promising bet.
I’d really appreciate hearing your thoughts and insights on this. Do you think these are good pre-IPO investments? Any advice or perspectives would be highly valuable to me. Thank you!
Cosmo Films – Diffentiated player in commodity business (12-06-2024)
Cosmo could see a good Q1 and a good FY25 with increasing spreads compared to last year.
Phantom Digital Effects Limited (12-06-2024)
According to the 2023 Annual Report, PhantomFX recognizes revenue in the month of raising the invoice. In the earnings call, the management mentioned that the company billed ₹11 crore in January, ₹15 crore in February, and the remaining amount in March. However, the reported revenue for Q4 FY24 is ₹23.03 crore, derived as follows:
Total H2 FY24 Revenue: ₹49.20 crore (mentioned in the May 30 earnings call)
Less Q3 FY24 Revenue: ₹26.17 crore (mentioned in the March conference call)
Resulting Q4 FY24 Revenue: ₹23.03 crore
The combined total billing for January and February alone is ₹26 crore, which exceeds the reported Q4 revenue. Where is the discrepancy in my calculation?
Investing Basics – Feel free to ask the most basic questions (12-06-2024)
BSE provides the data. Hq locn.
Smallcap momentum portfolio (12-06-2024)
If you want real-time prices and more comprehensive data, consider using financial APIs like Alpha Vantage, IEX Cloud, or Yahoo Finance. These services often provide more detailed and up-to-date information, though they might require some technical setup and, in some cases, a subscription.
Lumax Auto Technologies (12-06-2024)
Q4FY24 concall
- FY25 consolidated growth is expected to be 20-25% driven by performance by new JV, IAC and the standalone business. Margin would be similar to FY 24.
- PV volumes back to pre pandemic levels and has been the biggest driver of growth
- 2W sales are coming back in H2 and it is expected to drive further growth on the back of premiumization trend
- tractor and CV did not perform good but might do good due to monsoon and increased private investments
- Orderbook of 900 Cr on a consolidated level. 200 Cr for plastic and metallic components . 300 C for the JV ( new JV has around 200 Cr of OB ) . 400 CR for the IAC business.
- revenue breakup
- Standalone : 47% , expected growth of 15% in FY25 . They are into plastic products and chassis components. Bajaj is the key customer. Order book of 200 Cr
- IAC : 31% , expected growth of 15-20% in FY 25 . IAC is into interior components. 70% of business is from M&M. 12% from MSIL, rest is from Volkswagen and Volvo Eicher. They have also made inroads with Tata Motors. Revenue for 3xO is 25000 / car and revenue for XUV 700 is 50000 / car. Order book of 400 Cr. FY25 EBIDTA margins would be less (from 19% to 15-16% ) due to accounting rule changes. `
- Lumax Manoh; 12%, expected growth of 40-50% in FY 25 . They are into gear shifters . MSIL is the key customer
- Lumax Cornaglia: 6%, expected growth of 30-50% . They are into plastic air intake systems, petrol tanks and urea tanks. Expecting new order of 1,30,000 urea tank and 20000 plastic fuel tank.
- Ituran telematics - Started to supply to Daimler india .
- Alps alpine 1% , expected high growth in FY25. They are into electronic components and software. OB of 100 Cr
- Growth guidance was 15% but had been able to achieve 8% growth mainly due to slowdown in aftermarket and bajaj’s platform ( only Pulsar platform performed where Lumax’s presence is minimal )
- 90% OB is new business and 10% is legacy business
- LT Debt = 411 Cr, Cash ~ 400 Cr. Short term debt 270 Cr mainly used for working capital
- Lumax is changing business model with Bajaj, Their team will be inside the bajaj plant to do ED coating.
corporate structure of Lumax
[quote=“GourabPaul, post:49, topic:296, full:true”]Q3FY24 results - https://www.bseindia.com/xml-data/corpfiling/AttachLive/4a93bd5d-47c7-46ad-8f3f-cc4704d5b74b.pdf
Q3FY24 earnings call recording - https://www.youtube.com/watch?v=tckyTAbLC4A
Sales have grown 65% YoY and OPM have expanded to 14%
Q2FY24 concall management had indicated the following
The total order book of Lumax Auto Technologies Limited is reported to be INR 1050 crores, with 93% of this being new business. The electric vehicle (EV) segment contributes to 40% of the total order book value.
Breakdown and Realization:
- FY25: Approximately 50% of the order book is expected to be realized as per Q3FY24 concall.
- FY26: Another 30% of the order book is expected to be realized as per Q3FY24 concall.
- FY27: The remaining 20% of the order book is expected to be realized.
With the realization of the order book over the next two to three years, it is expected that the company’s asset turns would improve significantly compared to what has traditionally been achieved.
Some of the notable joint ventures other than IAC and their orderbook
- Lumax Mannoh Allied Technologies:
- This 55% subsidiary manufactures manual, AMT, and automatic gearshift systems. It has the market leadership position and contributed 13% to the total consolidated revenues. The company has a healthy order book of around INR 60 crores. Its exports business for automatic gear shifters is performing well, and efforts are underway to increase market reach. Orderbook as of Q3FY24 stands at 55 Cr
- Lumax Cornaglia Auto Technologies:
- This 50% subsidiary, manufacturing air intake systems and urea tanks, commands a 100% share of business with Volkswagen and Tata Motors, contributing 6% to total consolidated revenues. The joint venture has a strong order book of INR 80 crores. A new facility is expected to commence from Q4, adding plastic fuel tanks as a product. Orderbook as of Q3FY24 stands at 70 Cr
- Lumax Ituran Telematics Private Limited:
- This JV has commenced supplies of telematics parts to Daimler India in the current quarter. The volumes are expected to grow significantly in the remaining part of the financial year with the addition of new product ranges. Orderbook as of Q3FY24 stands at 35 Cr
- Lumax Alps Alpine India Private Limited:
- A 50% subsidiary focused on the manufacturing and sale of electric devices and components, including software related to the automotive industry. It contributed 1% to the total consolidated revenues. There are aggressive targets for this JV, with discussions to make India a global production base for a few components. Orderbook as of Q3FY24 stands at 110 Cr
Q3FY24 concall highlights:
Growth in the two-wheeler segment has been buoyed by the festive season and weddings, contributing to an uptick in demand. Nevertheless, Lumax’s standalone business for frame and plastic components has experienced a decline, attributed to weaker demand for Platina and CT models, witnessing a 15% and 40% decrease in demand, respectively. Despite this downturn, Lumax, as the exclusive supplier for certain components, reports robust demand in the premium bike segment. Lumax is strategically aiming to expand its share of the customer’s wallet by enhancing the value of its offerings, including the addition of paint or coating services for the chassis of these premium bikes. The company already boasts a partnership with KTM and supplies components for some of Bajaj’s electric vehicle (EV) variants. Efforts are underway to extend its supply chain to include the Pulsar platform, indicating Lumax’s commitment to diversifying its product line and capitalizing on new opportunities within the evolving two-wheeler market.
The tailwind in the auto sector are
a. Increased safety norms - e.g Bharat NCAP which will benefit large Tier 1
b. Emission norms.
The order book remains at 1100 Cr (IAC Orderbook being 600 - 650 Cr) and is expected to realise 50% by FY25 and 30% by FY 26.
40% of the orderbook is from EV - Mahindra Born electric and Bajaj EV.
The company expects a topline growth of 25% in FY25 driven by the JVs and IAC India.
chart also looks great with consolidation ongoing for the last 6 months and volumes are high as well.
disclaimer : Tracking, reading the company and updating this post on the go.
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Disclaimer - Invested
MSTC Ltd.: Growth through to E-Commerce (12-06-2024)
Hi which website is this from? Thanks
PF Balance Withdraw from 2007 (12-06-2024)
My father worked in a company till 2007 when EPF balance used to be on papers, not digital. From 2013 to 2019, he worked in a company when EPF was started to be given digitally using a unqiue UAN. We have been able to withdraw the PF balance from 2013 to 2019 digitally by filing the suitable forms. How can we withdraw the amount of earlier period? We have proof of PF balance written on papers which was given by the previous company.
Ratnaveer precision a newly headed steel company (12-06-2024)
Please share the source