January 29, 2025 No significant additional observations. Mcap has further corrected to Rs 3,700 cr. October 28, 2024 No real improvements visible so far. Management as always continues to be very positive about the future. An interesting thing is the total mcap of the Company which has now fallen to around Rs 4,700 cr. This … Read more
April 29, 2025 Churn continues to be high Growth is coming from ARPU and will continue to remain so in the foreseeable future. Management is guiding for a 10% kind of growth due to ARPU. Ideal scenario is if 10% customer can also be added annually, which management is trying but has not succeeded so … Read more
November 8, 2024 Challenging Q2 due to industry headwinds impacting growth and margin Margins came significantly lower at 7% due to incentives, lower operating leverage and inventory losses Management expects a better H2 Volume growth guided at 8-10% for full year FY25 At a sustainable level, continued to guide operating margins of around 12% Bathware … Read more
May 10, 2024 Performance continues to be muted – especially on the profitability front Nothing exciting as of now. October 12, 2023 Strong parentage – 60% holding Two business divisions Products – contributing about 70% – manufacturing and trading of point of transaction products (dot matrix printers, thermal printers barcode scanners, e-cash register, touch POS … Read more
August 5, 2026 Continued ok type performance. Too many variables for Company to manage and also increasing competition. Technically the stock is oversold and valuations have also become more reasonable. Very operationally intensive business. Don’t be in a hurry to get in. February 1, 2025 Company continues to do ok. No real exciting trigger Company … Read more
August 9, 2023 Sunrise sector expectations of increased usage of drones across sectors in future usage is regulated and hence the demand is susceptible to the government policies. Still as the base of the sector as well as size of the Company is currently small, overall opportunity should not be a challenge. Company currently significantly … Read more
September 25, 2023 Strengths Established brand with wide distribution. High unorganised industry at >60% provides opportunity for brands like Relaxo. However, low barriers to entry mitigates that opportunity significantly. Strong historical average 10yr ROE at 18%. Debt free Weaknesses Low barriers to entry especially with increasing ease (social media and ecommerce) to reach the customer … Read more
August 13, 2026 Okayish performance. Growth mainly from products. Services is muted due to the price increase Margins are impacted mainly due to the global headwinds impacting costs. Long term targets continue to remain same FY30 vs FY 25: 2x revenues, 3x EBITDA This implies a CAGR of around 15% based on FY 26 actual … Read more
October 22, 2024 Continued muted performance Again issue of too many pieces in the business Cash flow generation relative to overall mcap is attractive. Being a Mahindra group Company with a small market cap continues to be the main source of interest. January 30, 2024 Muted Q3FY24 Rivigo continues to struggle. At the time of … Read more