Is FCF concept Illusive in India? As most of the companies are not FCF positive? Isn’t OCF is better matrix to judge the company?
Please suggest your views
Thanks
Krushna
Posts tagged Value Pickr
V-Mart Retail Ltd (04-09-2015)
Thanks a lot @nikhildoshi for sharing the article. Am summarizing below some of the mistakes made by these players and where VMart is currently on those parameters. Of course, there is a big difference in the business model of the players covered here – whererby these are all discount retailers focused on metro or Tier 1, whereas VMart is a value retailer focused on Tier 2 and Tier 3 cities.
However, these are all critical metrics that need to be tracked for a retailer like VMart, and anyone invested should certainly keep an eye on each of these including the growth metrics (sales per square feet, store openings) and working capital (Receivables, inventory)
Forensics and the art of triangulation (04-09-2015)
Without getting into too many argument, all I would say is.
- Checking independence etc is vague and subjective.
We need to give the management benefit of doubt. Unless we hav something blatantly bad, we should not drop ideas due to points like Auditor is a small firm
Avanti Feeds (04-09-2015)
India continues to buck the trend (28% growth in exports in July) despite US July shrimp imports dropping 4%
India led the pack by exporting 11,635 metric tons, up 28.3% from a year earlier surpassing Ecuadorean exports.
Ecuador, which last July was the biggest exporter to the US, is still the second biggest, according to recently released statistics from the National Marine Fisheries Service (NMFS).
Indonesia stayed in third place overall by exporting 9,211t this July, up 12.9% year on year. Thailand (5,290t in July 2015) rose to fourth place, overtaking Vietnam (4,063t) which saw a precipitous 43% drop.
More detailed report by USDA (giving exports figures in terms of value) will be out by tomorrow
Borosil (04-09-2015)
Can we find out more about the new Home Appliance Products of Borosil.
Is it gaining market traction. Whether the products are good or not etc ?
Byke hospitality – Truly asset light? (04-09-2015)
The reason for ONLY VEG is not a religious reason.
In one of the concall, CEO stated that they want to focus on domestic tourist and not foreign tourist. The price point at which they their own rooms are in middle range and Foreigners can easily afford it. But if such an impression develops that this hotel is full of foreigners than domestic tourist with family will avoid this hotel.
The only way to curb foreign demand is to stop serving Non-Veg Food!
They are very focused and clearly want to play on Domestic Middle Class Family tourist who can afford 2k-4k room per night. 
Forensics and the art of triangulation (04-09-2015)
Dear @ashwinidamani
Sure. On point 2 of remuneration, I think honest promoters may take a high salary and avoid other means of taking fund out of the business – like over invoicing vendors and taking a cash back. So it may also be a plus. I have also seen them reduce their own payout if the business does poorly.
On point 1, if the firm is listed, given the onerous levels of compliance having an unknown audited firm will be suspicious. I use Prime Academy’s research on auditors to find out more about the auditors’ credibility. I know of a large listed entity in Pune which has smaller listed entities. The auditors of the two are different and the smaller entity has an auditor whose credentials in my view are suspect. He could not provide me clarifications on certain items in revenue recognition and my queries on RPTs.
Of course we need to note that an unknown audited firm does not mean ‘dis reputed’. For instance when I was looking at a small firm and called the auditor in Coimbatore, he was extremely clear on how he treated certain transaction, and seemed to have his own ‘independent’ mind.
Ultimately an ‘independent’ auditor’s report should pass the test of independence!
Warm regards,
Forensics and the art of triangulation (04-09-2015)
My apologies. I misunderstood.
Forensics and the art of triangulation (04-09-2015)
@ashwinidamani
could you provide examples of Valuepickr hidden gems which failed on Point 1 and Point 2? thanks
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What you are buying in this major correction ? PF readjustment! (04-09-2015)
Excellent write up and I think you are right. but sometimes it becomes difficult to exit your winners but as you said one need to be rational then emotional and also it is very difficult to sit on cash ( atleast for me ).