Rounaq Bakshi notes

Hexa Tradex holds 5000 cr value in unlisted companies Hexa Tradex holds Virtuous Tradecorp Private Limited and Siddeshwari Tradex Private Limited Virtuous Tradecorp Private Limited VTPL derives strong financial flexibility, emanating from the significant market value of its investments across various O.P. Jindal group companies. As on December 31, 2024, market value of VTPL’s quoted investments is ~₹23,400 crore, providing a strong debt coverage of ~55x against rated NCDs of ₹425 crore (debt cover of over ~39x considering only the market value of unencumbered quoted investments). The company also holds unquoted investments of ~₹170 crore as on December 31, 2024. Under different stress scenarios conducted based on historical share price of investee companies in the last five years, debt cover stands more than adequate. The debt cover for this NCD at a five-year average share price stood comfortably at 18x, considering that it includes lower prices recorded in the COVID period. Over the...

RHI Magnesita India : US$ 7 trillion economy by 2030  RHIM   is focused on optimizing its cost structure through initiatives such as fixed cost optimization, resource bundling, and leveraging economies of scale. These efforts are aimed at improving the cost baseline and enhancing profitability, reflecting the Company’s commitment to operational excellence and efficiency.   The government’s ambitious targets, including reaching a US$ 7 trillion economy by fiscal year 2030 and achieving 300 million tonnes of steel production by 2030, coupled with initiatives like Atmanirbhar Bharat, provide a strong foundation for economic growth.  These factors create a conducive environment for increased demand for refractory products aligning with  RHIM ’s market leadership position and local-forlocal manufacturing strategy under the ‘Make in India’ initiative.    RHI Magnesita India Limited is well-positioned to leverage on this opportunity for a sustainable and...

  RHI Magnesita India Steel Division constituted approximately 76% revenue Brand Trust and Operational Excellence Post-Merger:  RHIM  benefits from the esteemed brand reputation, industry relationships, and technical expertise of the global RHI Magnesita group, which boasts a remarkable 189-year track record and a presence in over 125 countries. Leveraging the resources of the global RHI Magnesita group,  RHIM  has established a robust operational platform that enables efficient and effective service delivery to customers.   Leading Position in the Indian Refractory Market: Following the integration of three Indian subsidiaries of the global RHI Magnesita group and the recent acquisition of two leading refractory companies in India,  RHIM  India has solidified its position as a premier manufacturer and supplier of high-grade refractory products and solutions in India. With an expanded manufacturing capacity and a diverse customer base spannin...

  RHIM  India achieves highest quarterly EBITDA margin of 18% since acquisitions   Parmod Sagar, MD & CEO of RHI Magnesita India Ltd. said, “We are pleased to report that we have delivered the highest margins since the completion of acquisitions over a year ago. We are advancing towards our strategic initiatives to increase our market share (iron-making, flow control), and achieve operational excellence & synergies. End-user industries have witnessed a slowdown due to cheaper imports and increase in raw material and freight prices have presented new challenges. We have successfully navigated this volatility by maintaining strong margins and achieving a sustainable and profitable growth.”    The Company remains steadfast in its conviction that GDP growth will require the refractory industry to act as a catalyst to support the vision of Viksit Bharat.  As the market leader,  RHIM  India is well-positioned to capitalize on this opportunity....

  About Gateway Distriparks Limited  Gateway Distriparks Limited is an integrated inter-modal logistics service provider.  It has a network of 10 container terminals strategically located across the country, operating a fleet of 34 trainsets along with 560+ trailers for transportation between its facilities and maritime ports, as well as first & last mile connectivity to provide end to end solutions to the EXIM industry.  The company offers general & bonded warehousing, rail & road transportation, container handling services and other value added services.  Through Snowman Logistics Limited, its associate company, the company offers also cold chain logistics and 5PL distribution services across the country  Rail linked Inland Container Depots (ICD) : Company offers rail transportation services for EXIM containers between its ICDs and the key ports of JNPT, Mundra, Pipavav and Kandla with a license to operate on the pan India Railways network...

JK Paper About the company: JK Paper is one of the largest wood-based paper companies in India.   The Company possessed an installed capacity of 7.61 Lac TPA of paper and board at the close of 2023-24.   The Company is present in the following segments directly or through its subsidiaries: office paper, writing & printing paper, packaging board, coated paper, specialty paper, corrugated packaging, monocartons and labels. JK Paper is present across more than 60 countries, including US, UK, Bangladesh, Singapore, Malaysia, Africa and the Middle East.   The brand is globally renowned for its quality and price-value proposition. It operates through a pan-India distribution network of 468 trade partners and over 4,000 dealers. The Company possesses three state-ofthe-art manufacturing units of Paper and Board in different geographies proximate to plantation wood and consumption markets, nine corrugated conversion units, two monocarton units and one unit for labels. Acquisit...

Google launched a new feature – Google Web Stories.  This features lets users share posts, articles, and videos on the web. Google Web Stories allows users to create multimedia websites that can be accessed by anyone who has a Google account Where Do Web Stories Appear? Google’s Web  Stories,  unlike other story-telling  frameworks  that are  present  in  apps,  can be seen  all  over the  internet.   While  Instagram Stories  must  be viewed on the platform, Google Web Stories can be hosted on a creator’s  website.   Because  there are no restrictions on content,  this  gives publishers a  lot  more  liberty   than  other  platforms.   As  a  result,  the story  may  be used to  attract  traffic to your  website,  not  just   confined  to the  walls  of  social media   ...

Company name: JK tyre About:  JK Tyre is present in more than 100 countries, along with 12 globally benchmarked ‘sustainable’ manufacturing plants, 9 of which are in India and 3 in Mexico.  The flagship company of the JK group, JKTI is headed by Dr R P Singhania as its chairman and managing director.  It is one of the leading tyre manufacturers in India and among the top 20 manufacturers in the world with a wide range of products catering to diverse business segments, including, truck/bus, light commercial vehicles (LCV), passenger cars, multi-utility vehicles (MUV), and tractors.  As on December 31, 2024, JKTI total consolidated capacity of 35 million tyres per annum. JKTI ranks among the first four domestic tyre manufacturing companies based on overall revenue share and has presence across majority tyre segments.  CARE Ratings notes that JKTI is a market leader in the truck and bus tyre segment and is gaining market share in PCR tyre segment.  JKTI has a ...

Gujarat Industries Power Company About:  Company, jointly promoted by Gujarat Electricity Board (GEB) [now Gujarat Urja Vikas Nigam Limited (GUVNL)], Gujarat Alkalies and Chemicals Limited (GACL), Gujarat State Fertilizers and Chemicals Limited (GSFC) and Petrofils Co-operation Limited (PCL) to cater to their captive power requirements, has completed Thirty-Nine years on 01st June, 2024, since its establishment in the year 1985.  Company is dependent on the domestic market for its business and revenues.  The Company’s power generating facilities are located in the State of Gujarat and the entire revenue of the Company is derived from the domestic market. Current Capacity: Company, which began as the first group captive power plant in the country, has transformed into a dynamic Independent Power Producer (IPP) with total installed generation capacity of 1184.4 MW including RE capacity of 374.4 MW. OPERATIONS Surat Lignite Power Plant (SLPP):  Phase-I (2 x 125 MW Units...

  NMDC  on the track to become a 100 MTPA company by 2030 National Mineral Development Corporation Ltd ( NMDC ) has produced 40 million tonne of iron ore in the financial year 2021-22 Starting from 4 million tonne in 1969-70 NMDC  crossed 10 million tonne in 1977-78 added another ten million by 2004-05 crossed 30 million tonne within a decade and has now breached the 40 million mark on the track to become a 100 MTPA company by 2030 Rs.3000 Crores per year Capex In the immediate turn of course we are looking at 46 to 50 and is whatever call that is required whether we should work 24/7, 365 and increasing the production capacity of our existing plant for example the Bacheli plant we are screening plant where we are increasing our existing capacity by around 2.5 million ton   

  NMDC  Annual report 2024 NMDC  produces around 45 MT of iron ore per annum and has the capacity to produce approximately 51 MT. With ongoing expansion plans, the company aims to reach a production capacity of around 67 MT in the next 2-3 years and set a target of achieving a mining capacity of 100 MT by 2030.   NMDC  has a commendable 16% market share in iron ore output BY 2030  NMDC ’s 100 million tonnes would account for a quarter of the ~ 430 million tonnes of raw material required to reach that target.   Company’s highest-ever capital expenditure of Rs. 2,066 crores was expended towards capacity building in FY24, which was 17% north of the capex target, Rs. 1,769 crores.  NMDC ’s standalone net worth (post the demerger of NSL) crossed the Rs. 25,000 crore mark in FY24 reinforcing the company’s financial stability and its capacity to invest in growth and generate value for stakeholders. NMDC ’s major iron ore mines - Kirandul and Ba...