Key Notes on Paisalo

September 4, 2023 It’s more than 3 decade old company and is into vehicle loans, business loans, income generation loans to individuals, loan against property. Since 2017 it has also entered into co-lending arrangement with the PSU banks for income generating loans. Majority is funded by the bank and balance by Paisalo. Paisalo is responsible … Read more

Key Notes on Tata Teleservices (Maharashtra)

August 23, 2023 Tata Telesevices Maharashtra (TTML) is engaged in providing various wireline voice and data services and managed network services to its customers under the common brand ‘TATA Tele Business Services (TTBS)’, along with Tata Teleservices (TTSL). TTML holds a Unified License in the states of Maharashtra and Goa, as well as an Internet … Read more

Key Notes on Nykaa

August 14, 2023 Company’s story is under penetrated levels in India, established franchise and hence excellent growth opportunities ahead Last three year sales CAGR is 43%. Company claims to be sharply focused on profitability vis-a-vis only growth. EBITDA has been positive since FY 2019 and off late seems to have stabilised at around 5% AT … Read more

Key Notes on Varnanium Cloud

August 8, 2023 Difficult business to understand Strong reported P&L performance and low current valuations make it seem attractive. Operating cash flow track though doesn’t correspond with the reported profits. Lot of social media claims on corporate governance issues. Avoid.

Key Notes on Godrej Properties

August 7, 2023 Target double digit market share in every market that Company is present in. PAT target is about 12-15% on every project implying a 20%+ ROE. Business development (that is new project acquisitions) are going to be more calibrated now. Previously the focus was to grow aggressively in varied markets. Now on it … Read more

Key Notes on Kansai Nerolac

August 7, 2023 About 55% of Company’s sales is through decorative and 45% from industrials (auto and non auto). Company is the leader in auto segment. There the focus is to maintain the market share and expand the wallet share. In decorative and non-auto (industrials), company is targeting higher growth through product innovation, geographical expansion … Read more

Key Notes on Khadim India

July 17, 2023 Though Company is present pan India, it’s more strong in Eastern and Southern India. 63% of it’s retail stores and 64% of distribution is from Eastern India followed by South. As at March 31, 2023, total 846 stores (26% own, 76% franchise) and 700 distributors FY 24 target is to open 100 … Read more

Key Notes on Vikas Ecotech

July 10, 2023 Promoters currently own only 9.32% of the Company. In 2017, they were at 39.52%. Share price since then fell from a high of Rs 25 to less than Re 1 in 2020. One can guess the beneficiaries. Volatile past performance – typical SME type. Go overboard when times are good, go down … Read more

Key Notes on Hero Motocorp

August 2, 2023 ED again raids at the premises of Hero Motocrop at Delhi and Gurgaon in relation with the customs case. It also raided the residence of the Chairman, Pawan Munjal. June 16, 2023 Continued regulatory actions against the Company. As per ET reports, now MCA has ordered an investigation against Hero MotoCorp Limited … Read more