October 30, 2023 Efforts towards retailization, consolidation and clean-up continues. As of now other than the attractive valuations optically, difficult to see any real differentiated strategy. With any slowdown, size and perception will work against the stock. August 3, 2023 At consolidated level, loan book is targeted at Rs 13,000 cr by FY25 Cost of … Read more
May 30, 2024 Strong industry and company specific commentary by the management Company confident of having a good visibility on earnings for the next 3 years based on current projects under execution 10,000 units should be delivered in next 3 years. Average unit size is 1,200 sqft and per sqft realisation is around Rs 3,500 … Read more
July 14, 2023 2/3rd of Companys’ revenues are from Cash Management Solutions (CMS) including ATM cash replenishment, merchant cash pick-up etc. Balance is Managed Services including banking automation products, brown label ATM deployment, remote monitoring and other managed services. Company sees a continued opportunity in CMS 40% of ATM’s are still managed directly by banks … Read more
January 12, 2024 Demand continues to be strong. 70% of Company’s sales mix is tubes and pipes. Balance is others. Declining steel prices has been a challenge but them now stabilising, situation should improve. Dealers are expected to go for restocking from Q4. Currently company has 400 dealers and distributors. They are expected to increase … Read more
June 30, 2023 Company was formed consequent to VSNL divestment to hold the identified land bank It’s 51.12% owned by the Government, 18.14% by Tatas (down from 22.65% in December 2020), marginal 1.6% by institutions (down from 10.88% in December 2020) and balance 29.14% by public It’s a speculative story around land development potential As … Read more
June 24, 2023 Company is into Microcrystalline cellulose (MCC) that is commonly utilised in the pharmaceutical sector as an excipient for finished doses. Besides it is also used in the food, nutraceutical, and cosmetic industries. Sigachi derives 75% of it’s revenues from pharma segment followed by nutraceuticals, food and beverage 10% each and remaining from … Read more
June 12, 2023 Positives Well managed company Zero debt Strong short term operational tailwinds Negatives Heavily dependent (85% of revenues) on textile sector, which is highly cyclical. Company is also into machine tools for auto and non-auto industries, casting for varied industries as well as components for aerospace. However, the concentration on textile continues with … Read more
February 2, 2024 Robust performance on all operational parameters in Q3 FY24 2 members came on the call for customer complaints of how they struggle to book properties. This is my personal experience also of feedback from other members. In this kind of a model, this is not unexpected. Opportunity is good but execution is … Read more
May 29, 2023 Good Strong industry tailwinds. Significant government orders expected for atleast next 2 yrs. Impact should start reflecting from July 2023 onwards Company also working with EV industry to develop import substitute components. Impact however in this case will be slow and results would be known only after a year or so Negligible … Read more