Key Notes on Kamat Hotels

May 7, 2024 Kamat Hotels (India) – KHIL is a flagship company of the Kamat Group into the hospitality business It’s a very old company formed in 1990s, that got listed in 2005 Over years it has had a volatile history. It expanded taking significant debt that it could not service properly. Company is currently … Read more

Key Notes on Ugro Capital

January 24, 2024 The Company is a technology-focused small business lending platform. It was incorporated in 1993 as Chokhani Securities Ltd and was acquired and renamed as UGRO Capital Ltd in 2018 by Mr Shachindra Nath (Executive Chairman and Managing Director) who has over two decades of experience in the financial services industry. The Company … Read more

Key Notes on Jain Irrigation Systems

May 18, 2024 Continued operational improvement in Q4 FY 2024 Focus areas continue to be Expand retail business Recover outstanding govt dues and use them to reduce leverage Management expects FY 25 to be better than FY 24 and FY26 to be further better. Management as always continues to sound very bullish. Execution is where … Read more

Key Notes on V-Guard Industries

February 1, 2024 V-Guard is a Kochi based company, founded in 1977 to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a multi-product Company. 27-28% of Company’s total revenues come from wire segment alone. Non-South markets contributed to 45.6% of total revenues in … Read more

Key Notes on Avanti Feeds

May 29, 2024 Decent quarter Margins during Q4 FY2024 improved due to the reduction in the raw material prices Next 2 qtrs are expected to be stable on margins Growth is expected to be muted in Q1 FY25 due to the environmental factors. It’s however is expected to be compensated during Q2 and Q3 Avanti … Read more

Key Notes on Metro Brands

January 19, 2024 Footwear retailer – Metro, Mochi, Walkway, Crocs, Fitflop, Foot Locker Own Brands contribute 70-75% of total store product sales at MBOs Management seems to be know it all types – typical of many retail franchises. Strong financial track record – Revenues have grown at a CAGR of 15% in last 5yrs and … Read more

Key Notes on Hindustan Foods

November 9, 2023 One of the most diversified contract manufacturer – FMCG products (including food, home care, personal care), leather products, beverages, ice-creams, pest control products etc Company claims to be agnostic about product category provided it meets the basic operating checks It doesn’t have plans to launch products under own brands It’s very clear … Read more

Key Notes on Control Print

January 23, 2024 Stable quarter. Margins would grow in line with revenues and that’s where focus of the company lies. 630 printers were sold in Q3FY24 Sales are currently muted due to company’s changed strategy of focusing on larger customers to preserve service bandwidth. Changed strategy may take time for sales force to adapt to … Read more

Key Notes on Indigo Paints

May 23, 2024 Continued good performance during Q4FY24 4x of industry growth in revenues (value wise) All time high EBITDA margin of 22% similar to Q4FY23 Outlook Revenue growth would depend upon the industry growth. However, management is confident of growing by 3-4x of the industry growth. Analysts continue to be wary of the increasing … Read more