November 15, 2024 No additional significant observation. Valuations continue to be high at 49x TTM P/E. This kind of business with signifiant moving parts should be ideally available at less than 25x trailing P/E. May 31, 2024 Formed in 1964, Ion Exchange focuses upon water, wastewater treatment & environment solutions In FY24, domestic business contributed … Read more
May 30, 2024 In business since 1984, Company gained momentum over last 5-6 years Company sells standardised products through distributors as well as customised products directly to the OEMs Sales mix 65% revenues are exports and 35% domestic In Q4FY24, 47.6% revenues were from Shunt Resistors and balance 52.4% from bimetal. Volume wise mix was … Read more
May 10, 2024 AVT is a part of the larger A.V. Thomas Group of companies, which has diversified business interests across agricultural commodities, tea, solvent extraction, leather, rubber and spices, among others. The Company is into the solvent extraction business It’s product portfolio comprises marigold extracts, spice oils and oleoresins (paprika, capsicum, pepper, etc) and … Read more
August 9, 2024 Industry headwinds continue along with an increasing competition. Seems like a decent management,. However, complicated business with too many moving variables. Will have doses of intermittent excitements and disappointments. February 14, 2024 Services across the value chain of multimodal logistics – rail transportation, ICD and CFS, warehousing, road transportation Network of 10 … Read more
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
January 31, 2025 Despite a supposedly strong wedding season, a very muted growth by the Company Company attributes this to macro headwinds and nothing to do with any structural weakness in the business Outlook remains neutral Given the performance, stock despite correction continues to trade expensive at 50x trailing P/E. Management is good but I … Read more
November 14, 2024 Volume growth during Q2 was 9% estimated at 2-3x of the industry growth EBITDA margins were at 12.6% Continued same viewpoint as in February 6, 2024. Core business continues strong. Missing is the excitement trigger. February 6, 2024 It’s a Hinduja group Company. 80-85% of product portfolio is focused on automotive and balance … Read more
January 23, 2024 In 9M FY24, 80% revenues were from Solar EPC, 5% from Solar Tracker and 16% from EV leasing EV manufacturing. Vehicle is under final stage of approval from ARAI. Post final approvals, commercial operations are expected to start in early FY’25 with a capacity of 30,000 pa Its a 2 door, 2 … Read more
February 8, 2024 Supplier of systems and components for the off-highway vehicles (‘OHV’). Products include 3 Point Linkage (3PL) for tractors (allows for quick and easy attachment and detachment of implements) and Precision Machined Parts for use in construction machinery, equipment, and structures 56% revenues are from 3PLs and 40% from PMPs 85% revenues are … Read more