Rounaq Bakshi notes

  https://youtu.be/Ywi1aD4b7hQ?si=NmHHD2LHtTgmnLX6 LARSEN & TOUBRO : Time for bluechips Well-rounded Performance across all parameters Order Inflow exceeds ₹ 3 lakh crore for FY’24;    31% y-o-y  Revenue at ₹ 2.21 lakh crore for FY’24;    21% y-o-y  Consolidated PAT at ₹ 13,059 crore for FY’24;    25% y-o-y  Board recommends a final dividend of ₹ 28 per share   The consolidated order book of the group as on March 31, 2024, is at ₹ 475,809 crore registers growth of 20% over the previous year, with the share of international orders at 38%.  

  GPTHEALTH: IPO stock GPT Healthcare Limited, the healthcare arm of the GPT Group, currently owns and operates over 561 beds spread across four state-of-the-art multi-specialty hospitals in the eastern part of the country under the brand name ILS Hospitals Total Income stood at Rs. 406 crores, higher by 10.6% y-o-y    EBITDA stood at Rs. 93 crores, with EBITDA margin of 23.0%, an increase of 16.3% y-o-y  • PAT stood at Rs. 48 crores, higher by 22.4% y-o-y   The existing four hospitals in Salt Lake, Agartala, Dum Dum and Howrah, continue to perform well and are improving on all financial and operational metrics with increasing occupancy.  The ARPOB for FY24 was Rs. 32,947 which is in line with  policy of serving the aspiring population of the society with higher disposable income in the middle to high income segment.  The payer mix continues to be mostly cash and insurance leading to one of the highest Cashflow from Operations to EBITDA ...

  https://youtu.be/9NmEwZNSAz0?si=vwwr4dLSA_hW4dor Sirca  Paints India: Shifting  manufacturing to India Among the top 3 premium category wood coatings brand in India  Market leader in premium wood coatings in North India  Preferred OEM vendor for premium wood coatings To establish stringent quality control and achieve consistency in finished products, the Company in FY23 commissioned a new manufacturing line for resins - a key starting material for wood coatings - at its existing facility in Sonipat.  This project will not only enhance the quality of products but also help optimise production costs Further, the Company announced a transition from importing key products of its Italian PU portfolio to manufacturing them at its Sonipat facility, this is a very important milestone for the Company.  Not only does till allow us to optimise inventories, but also paves the way for ultimately establishing manufacturing base in India for all categories of produ...

  https://youtu.be/6ugvlnnzLxo?si=lwpW1MTqhZzjBANE GSPL shares in a 20% lower circuit after PNGRB nearly halves HP Pipeline tariff Tariffs have been cut by 47% by PNGRB to ₹34 per mmbtu from the earlier ₹18.1 per mmbtu. Contrary to the price cut, GSPL had sought ₹50.8 per mmbtu as the revised tariff. The 47% tariff cut is also higher than the street expectation of a 10% to 15% cut. As a result of this order, GSPL's Earnings Per Share (EPS) is likely to decline by 30% to 40% in financial year 2025. PNGRB has cut the tariff citing higher volume assumption and economic life extension of the pipeline. GSPL's management said that it is studying the order.

  https://youtube.com/shorts/qkVSAgW58-w?si=9iuBW5J1iUwcSRyp Fusion  Micro Finance : Profit After Tax (PAT) up↑ 30.52% Fusion  Micro Finance Limited – Financial Results for Quarter and Year ending March 31, 2024  Asset under Management (AUM): ₹ 11,476.08 Crores ↑ 23.45%  Profit After Tax (PAT): ₹ 505.29 Crores ↑ 30.52%  Net Interest Margin (NIM): 11.22% ↑ 107 bps   ROA of 4.78% and ROE of 19.55% Asset under Management (AUM) grew 23.45% YoY from INR 9,296.22 Crores to INR 11,476.08 Crores  Disbursements grew 19.76% YoY from INR 8,596.11 Crores to INR 10,294.35 Crores  Net NPA 0.60%  Borrower base increased from ~35.3 lakhs to ~38.6 lakhs

  https://youtube.com/shorts/QGpZ17ooR2o?si=Fe5ssZc58q0Hdeer Brookfield India Real Estate Trust : my top bet Brookfield India Real Estate Trust (BIRET)  is set to acquire a 50 percent stake in four Grade A assets from  Bharti Enterprises  in Delhi and Gurugram, the real estate firms said on May 16. The total equity consideration for the 50 percent stake would be fulfilled through a preferential allotment of units in BIRET to Bharti at Rs 300 a unit. It will make Bharti the second largest unitholder in BIRET with an ownership stake of 8.53 percent, the firms said in a joint statement. The enterprise value of the properties is around Rs 6,000 crore. The acquisition includes marquee commercial properties spread over 3.3 million square feet. The portfolio includes operating Worldmark assets at New Delhi's Aerocity , which is a mixed-use property covering 1.4 million square feet; Airtel Center, the state-of-the-art corporate facility of 700,000 square feet in north Gurugr...

  https://youtube.com/shorts/cuTB3QomNL0?si=r050D73de6-ey0bQ Aditya Birla Sun Life  AMC :  FY24 Profit after Tax is at Rs 780 cr ; up 31% year-on-year. ABSLAMC’s overall QAAUM including Alternate assets grew by 21% year-on-year to Rs. 3,458 billion for the quarter ending March 31, 2024. ABSLAMC serviced 8.59 million as of March 31, 2024. Added around 1.1 mn new folios in FY24.

  https://youtu.be/Z93uALjyik0?si=H_20qFmDeb0hMLtt Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities (2023) Officials close to the development said the salt-to-software conglomerate is watching the marketplace to assess Jio's future plans and their impact on the competitive dynamics of the pooled-money industry. Financial sector majors view Jio Financial Services as a potentially disruptive player at a time when the Indian mutual fund industry is expected to welcome half a dozen new entrants The Tata Group is looking to buy a majority stake in India's eighth largest mutual fund UTI Asset Management Co (AMC). The group is in final stages of negotiation to buy the stake from four state-owned financial entities -- Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – which together own 45.16 per cent stake in UTI AMC. In the latest found of reports, it is reported that  UTI Asset Management Company  (AMC...

  https://youtu.be/CuW3jiEaXCQ?si=cHgjKc1a038P7W6G SJS ACHIEVED ITS FY24 GUIDANCE OF 45% YOY REVENUE GROWTH  Delivered revenue growth of 45.0% YoY to ₹ 6,278.0 Mn, registering better-than automotive industry production volume growth of 9.7% YoY  EBITDA consistently maintaining robust margins at 25.2% PAT at ₹ 85 cr, 26.9% YoY growth, with a margin of 13.6%.  Exports constituted 7.7% of total consolidated sales Two wheelers now contribute 37% of revenue, passenger vehicles contribute 36%, consumer segment 20% and others 7%  Company is getting future ready with the new generation products contribution increasing from 9.4% in FY23 to 25.2% in FY24, post WPI acquisition  Consolidated ROCE during the quarter stands at 20.4% and ROE at 15.2%. ROCE was lower due to WPI acquisition. This will improve gradually over a period of time and with better utilisation of new investments over next 1-2 years  During FY24, the company achieved robust free cash flows of Rs...

https://youtu.be/Hd3AnN7WqXw?si=GgzoPGGEmu0QSzQZ   Maharashtra Seamless : Down 20% from top India’s oil demand is projected to rise 50% to 7.2 mn barrels per day in 2030 from 4.8 mn barrels per day in 2019 as against a global expansion of 7%.  India’s natural gas demand is projected to double to 133 BCM in 2030 from 64 BCMin 2019 as against a 12% rise in global gas demand.  India plans to almost double its oil refining capacity to 450 MT in the next 10 years to meet rising domestic fuel demand as well as cater to export market. Large tenders for ERW pipes have been floated by BPCL, GAIL, Indraprastha Gas and Assam Gas for oil and gas applications.  More tenders are expected for Gurdaspur to Srinagar pipeline, Tinsukia to Doom Dooma pipeline and City Gas Distribution projects in 10th & 11th rounds in majority of states.  Significant contract from IOCL has been received recently indicating buoyancy of market and sustained expenditure by OMCs and refineries. Ma...

  Ambuja Cements open offer to Sanghi Industries at Rs 121.90. https://youtu.be/sLbDL5SXzYU?si=jLQRnhFB-nab9G-0 Sanghi Industries is loss making business that Adani (  Ambuja Cements  )  will transform ACL in a separate statement informed that it "successfully completes acquisition of Sanghi Industries, funded entirely through internal accruals" at an enterprise value of Rs 5,185 crore. SIL, has a 2,700-hectare integrated manufacturing unit at Sanghipuram in coastal Gujarat. It has India's largest single-location cement and clinker production facility. Recognizing the Adani Group's expertise in marine infrastructure, plans are underway to expand the Sanghipuram port's capacity to handle larger vessels, facilitating cost-effective transportation of clinker and cement via sea routes it has a captive jetty in Sanghipuram, which Adani group plans to make investments to expand the captive port capacity of to handle vessel sizes of 8,000 DWT (deadweight tonnage), Adani ...

  CMS Info Systems: Building India theme https://youtu.be/ZRJL3hzl3Gc?si=ZAREXISaJzlTSxDY Revenue at INR 2,265 Cr, +18.3% YoY  Adj. EBITDA* at INR 641 Cr, +16.4% YoY  Adj. PAT* at INR 374.5 Cr, +23.1% YoY  Adj PAT Margin* at +16.5% Technology solutions are helping deepen enterprise relationships in BFSI, leading to INR 1,850 Cr new-order wins in FY24.  11% revenue growth in Cash Logistics business segment, adding 13,000 business points.  Retail segment has on-boarded 40+ new retail clients in FY24. Commenting on the performance of the Company, Mr. Rajiv Kaul – Executive Vice Chairman, Whole Time Director and CEO, CMS Info Systems said, “This is our eighth consecutive quarter with 20%+ YoY earnings growth. Our Managed Services & Technology Solutions business segment now contributes 39% of our overall revenues. We are seeing strong growth in our Retail, AIoT Remote Monitoring Solution and Managed Services segments. We are reasonably confident of meet...