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

February 12, 2024 Continued strong performance in Q3FY24 Company continues to grow significantly higher than the market during Q3FY24.¬†Value growth of 21% during the qtr. Growth across all regions. Growth is not skewed towards any particular region. EBITDA Margins increased to 18% compared with 15% in Q2FY24 and 14% in Q3FY23. Outlook continues to be … Read more

Key Notes on Rajratan Global Wire

October 23, 2023 The company is the largest bead wire manufacturing line in the world at the Pithampur plant (72,000 TPA) and the only manufacturer of bead wire in Thailand (60,000 TPA). Bead wire is used in various kind of tyres. It prevents vibration during driving and is required for the safety, strength, and durability … Read more

Key Notes on Clean Science

February 3, 2024 Continued slowdown, though some recovery seen during the quarter. Also, intensifying competitive pressures from China as true for the overall chemical sector in general. Inventory destocking led demand slowdown is ending. However, economic led demand pickup is awaited. Very transparent and reasonable management. November 2, 2023 A relatively young Company. Incorporated in … Read more

Key Notes on Motherson Sumi Wiring

January 31, 2024 Continued strong quarter. Tailwinds for the Company as manufacturers are launching more feature rich models and hence the demand for more wiring harness per vehicle. October 31, 2023 Motherson Sumi Wiring India (MSWIL) was established in FY22 as a result of the reorganization of Samvardhana Motherson International Limited (SAMIL) wherein the automotive … Read more

Key Notes on Prince Pipes

November 28, 2023 Sales growth continues to be muted in Q2 FY24 as well. Effect of stiff competition. Company is lagging industry growth for sometime now due to varied reasons. Expects to atleast come back to industry growth within next couple of quarters. Have taken price cuts to be more competitive + increasing capacity of … Read more

Key Notes on Blue Dart Express

November 2, 2023 Management believes they are doing well. Analysts seem to be doubtful based on the financial numbers. Analysts are benchmarking against extraordinary performance during Covid period which is unlikely to be repeated. Management continues to emphasise upon pre Covid margins to be the normal margins that can be expected in this business. Drones … Read more