Rounaq Bakshi notes

Shipping Corporation of India Limited (SCIL): Hidden gems of India As part of the Government of India’s initiative through the Ministry of Ports, Shipping and Waterways (MoPSW) and the Ministry of Petroleum and Natural Gas (MoPNG), the Shipping Corporation of India Ltd. (SCI) has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), and Indian Oil Corporation Ltd. (IOCL).  The purpose of this collaboration is to build and operate fleet together that will support the vision of Atmanirbhar Bharat, strengthen India’s shipping capacity, and improve country’s energy security. Under this MoU, companies plans to jointly acquire, own, operate, and manage vessels.  These vessels shall be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes.  1.  https://youtube.com/shorts/rjuaHdi_-60?si=MJlvYFzzpixf_K3i 2.  ...

GODREJ INDUSTRIES : market value of GIL’s shareholding in listed group companies was Rs 65,611 Crisil Ratings has assigned its  ‘Crisil AA+/Stable’  rating to Rs 2,000 crore non-convertible debentures (NCDs) of Godrej Industries Ltd (GIL) while reaffirming its rating on the NCDs worth Rs 6,250 crore and commercial paper programme at ‘Crisil AA+/Stable/Crisil A1+’ The ratings continue to reflect strong financial flexibility arising from GIL’s shareholding in the listed group companies which have healthy credit profiles.  GIL has a track record of maintaining healthy net debt cover  (Crisil Ratings adjusted ratio of total market value of investments to net debt) of 6-10 times over the  past five fiscals through 2025.  The market value of GIL’s shareholding in listed group companies was Rs 65,611 crore against net debt of Rs 9,696 crore (netting off cash balance of Rs 684  crore) as on August 31, 2025.  Further, GIL’s investment amounting to Rs 3,454...

Cineline India Limited: Monetization of Hotel Asset for INR 270 crores Commenting on the Company's performance, Mr. Ashish Kanakia, CEO of Cineline India Limited, said, Over the past three years since launching film exhibition business, have surpassed INR 200 crores in revenue, marking a 2X increase in revenue and a 4X growth in EBITDA compared to first year.  Have enhanced operational efficiency by renegotiating lease terms with developers and exiting underperforming screens to optimize costs which has helped us improve profitability.  Have successfully completed the sale of hotel asset for an enterprise valuation of INR 270 Crores, allowing  to fully concentrate on expanding core film exhibition business.  This move will accelerate growth and help expand market presence through addition of new screens.  With debt of INR 228fully repaid, have strengthened financial position which will be reinvested to drive business growth.  By leveraging innovative strate...

IIFL Capital Services Ltd: Exposure to uncertainties inherent in the capital market businesses Exposure to uncertainties inherent in the capital market businesses and tightening regulatory environment : The company's key broking business remains exposed to economic, political, and social factors that drive investor sentiments.  Given the cyclical nature   of the business, brokerage volumes and earnings are highly dependent on the level of trading activity in capital markets.  This makes earnings and profitability volatile .  However, the impact on earnings is partially offset by the high share of business coming through franchisees, resulting in a more variable cost structure. Over the past couple of years, the broking industry has witnessed a dynamic regulatory environment.  With the objective of enhancing transparency, limiting misuse of funds and safeguarding investor interests, Securities and Exchange Board of India (SEBI) has introduced several changes....

Allcargo Terminals is the leading CFS-ICD operator in the country and offers one of India’s widest networks Video:  https://youtu.be/r7Zva0y1O1c?si=FICcCSzETLc4RWIX   Theme A Container Freight Station (CFS) is usually located near a port and offers bonded and non-bonded warehousing services that may be required while carrying out Exim trade and completing customs formalities. At a CFS,  cargo  to be exported can be stored and consolidated into containers. Similarly,  cargo  imported can be de-consolidated, stored and further transported to its required destination. A CFS facilitates EXIM trade and makes intermodal transportation more effective Business: The company is well-positioned at key ports of JNPT, Mundra, Chennai and Kolkata that drive more than 80% of India’s container traffic The Company operates an asset light business model and its core business comprises of Container Freight Stations (CFS) and Inland Container Depots (ICD) Operate 7 CFS and ICD...

JSW   Infra  has sufficient cash flows to fund future expansion:  JSW   Infra  Joint MD & CEO Arun Maheshwari 1.  https://youtube.com/shorts/tE2z5YNFi4c?si=NIQBJlD5xufZPcBt 2.  https://youtu.be/nXV9kSXPzuM?si=50Gys08WXM6LYp1H JSW   Infra  has sufficient cash flows to fund future expansion:  JSW   Infra  Joint MD & CEO Arun Maheshwari "Thermal energy consumption in India will peak by 2050, despite the push for green energy. This leaves a good two to three decades for coal demand to grow in India The way India is growing and offering opportunities for growth is amazing. I think we are well positioned in this sector in the country. Our internal cash generation is also quite strong. The kinds of projects we are taking on and what we envisage as our future strategy will be sufficiently covered by our internal cash flows and the money that we are raising now. Everybody can create assets, and we would encourage more players to...

JK Paper: the Company is entering into Share Purchase Subscription and Shareholders' Agreement with Borkar Packaging Private Limited and its Promoters/Shareholders. The said acquisition is in synergy with longterm strategic objective of the Company and its subsidiaries in the Packaging business. Purchase consideration (including subscription) for acquisition of 72.0o/o stake of BPPL will be Rs. 125.46 per equity share of Rs. 10/- each, subject to adjustments as per terms of SPSSHA. BPPL was incorporated on 6th October, 1994 under the provisions of the Companies Act, 1956, having its registered office at Lake Plaza, Opposite Nehru Stadium, Fatorda, Margao, Goa.  lt is engaged in the business of manufacturing Folding Cartons, and Corrugated boxes.  BPPL has its operations in India and its consolidated turnover during preceding three financial years was:  Rs. 393.20 crore in FY 2023-24.  Rs. 404.61 crore in FY 2A22-23 and  Rs. 369.16 crore in FY 2021-22. 1.  h...

Transindia Real Estate: New listing in industrial and logistics parks  Video:  https://youtu.be/oOzvaiQSaTg?si=yGkL5hwdbo24fTNb "Hold and sit tight sector and company" Industry The  Indian  logistics market is one of the largest in the world, being valued at USD 250 billion in 2021 and is expected to grow to USD 380 billion by 2025, at a CAGR of 10.57%    The largest logistics companies in the US and China are 20-30x and 10x+ the size of  India ’s largest logistics companies, while GDPs are 8x and 5x of  India . Transindia  Real Estate Limited  is engaged in the businesses inter alia of development and leasing of industrial and logistics parks, equipment rental business, commercial space and other land banks.  The Company is very well positioned to be one of the top players in the  Indian  Industrial Real estate industry with 5.5 million square feet of assets developed and managed across  India   With ongoin...

REPRO INDIA: Collaboration with Amazon Collaboration with Amazon:  As the second-largest bookseller on Amazon, we closely collaborate with the platform sharing extensive data on publishers, titles, and growth levers to enhance visibility.  • Leadership on Flipkart:  As the largest bookseller on Flipkart, RBL has successfully partnered with both publishers and Flipkart, ensuring growth and profitability for all parties involved. Focus would continue on monetization of existing catalogue vs catalogue additions from existing publishers Additional 8 mn titles via the exclusive partnership with Ingram Content Group Digital Business -- Number of Direct Publishers Focus on acquiring relevant publishers and monetizing the existing catalogue. Key segments to focus on Academic, MNC Publishers, Domestic Trade & Journals, Import Substitution from International Publishers.. Potential market of ~ 5000 Publishers identified WAREHOUSE INTEGRATION  • A new project focused on opti...

NETWORK18 MEDIA: Understanding Mukesh Ambani Media empire Pursuant to the approval granted by the shareholders of the Company under Regulation 24(5) of the SEBI Listing Regulations for Viacom 18 Media Private Limited (“Viacom18”) ceasing to be a subsidiary of the Company and the Company ceasing to exercise control over Viacom18, Reliance Industries Limited (“RIL”) has on December 30, 2024 converted the 24,61,33,682 compulsorily convertible preference shares (“CCPS”) held by it in Viacom18 into 24,61,33,682 equity shares.  Post this conversion, RIL holds 83.88% of the total equity share capital of Viacom18 and 70.49% on a fully diluted basis.  The Company now holds 16.12% of the total equity share capital of Viacom18 and 13.54% on a fully diluted basis.  Viacom18 has ceased to be the subsidiary of the Company effective December 30, 2024.  Viacom18 was a material subsidiary of the Company.  Viacom18 had nil turnover and networth of Rs. 26,928.17 crore (representin...

Network18 Media & Investments Limited: RIL has acquired Paramount Global’s entire 13.01% of the diluted equity share capital in Viacom18 for a consideration of Rs. 4,286 crore.  With this acquisition, RIL holds 70.49% (on a fully diluted basis) in Viacom18.  #Tv18: Media empire with strong backing of Reliance 1.  Video:  https://youtu.be/N9J-ucVL8v4?si=4SkgW2PPPiIKxpnj 2. Video:  https://youtu.be/36YywNRbUU8?si=qHQblDrn461Gqa1n If you are positive on IPL and OTT platforms growth in future, then you need to carefully look into TV18 as a company Co. is on transformation mode with strong backing of Reliance TV18  to hold 13.54% in Viacom18 now   Viacom18 announces completion of the transaction for strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global Shareholding of Viacom18 will be: Fully diluted basis: RIL group entities – 60.37%;  TV18  – 13.54%; Bodhi Tree – 13.08%; Paramount Global – 13.01%    Viacom18 r...