Rounaq Bakshi notes

 Carysil: one-stop solution for kitchen segment Increased dealer network from 1,500+ to 3,200+ pan India Quartz Sinks:  10,00,000 pa , Stainless Steel : 1,80,000# pa and Appliances : 7,000 pa Technology: Only company in India and Asia and among 4 companies globally to have the technology to manufacture Quartz Sinks with Schock Technology Commenced supplies of Quartz sinks to IKEA Entered into an agreement for Supply of Quartz Kitchen Sinks with Leading German Brand “Grohe”  Carysil Limited entered into an agreement with major US Home Retail Chain  Carysil Limited entered into an agreement with Karran Inc. to Supply Quartz Sinks to major US Home Retail Chain  Carysil Limited, a globally recognised manufacturer of Quartz Kitchen Sinks known for its advanced German technology, has entered into an agreement with KARRAN INC., USA to supply Quartz kitchen sinks to fulfill the requirements of a new major U.S. home retail chain.  Commentating on the above, Mr. Chir...

  Larsen & Toubro is a USD 27 billion Indian multinational enterprise  The consolidated order book of the group as on June 30, 2024, is at ₹ 490,881 crore registers growth of 3% over Mar’24 and 19% y-o-y, with the share of international orders at 38%. The Company retains the focus on profitable execution of its robust order book in the backdrop of a relatively stable environment.  The Company for the quarter ended June 30, 2024, posted a Consolidated Profit After Tax (PAT) of ₹ 2,786 crore, registering growth of 12% compared to the previous year.   Further, the Company received orders worth ₹ 70,936 crore at the group level during the quarter ended June 30, 2024, registering a y-o-y growth of 8% aided by the strong ordering momentum in the Middle East.  During the quarter, orders were received across multiple segments like Offshore vertical of Hydrocarbon business, Renewables, Transmission & Distribution, Roads, Nuclear Power, Hydel & Tunnel, Fe...

  Motilal Oswal Nasdaq 100 ETF (MOFN100) The Scheme will invest in the securities which are constituents of NASDAQ-100 Index in the same proportion as in the Index. NASDAQ-100 Index has been designed by NASDAQ OMX Group, Inc. A part of the NASDAQ family of indices, 26 year old, NASDAQ-100 Index includes 100 largest domestic (U.S.) and international non-financial securities listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies. Includes top 100 domestic and international non-financial companies listed at NASDAQ Stock Market. Index reflects companies across computer hardware, and software, telecommunications, retail/wholesale trade and biotechnology. In order to avoid concentration, the maximum weight of any index constituent is ...

  Larsen & Toubro (L&T) opportunities worth Rs 9 trillion from project orders The management of Larsen & Toubro (L&T) on July 24 said that there are opportunities worth Rs 9 trillion from project orders that the company will look to bid for in the ongoing financial year. "As we look ahead, we see a very encouraging order prospect pipeline. And if you were to quantify that opportunity, it indicates a prospective pipeline of over Rs 9 trillion," L&T's Chief Financial Officer R Shankar Raman said. Shankar Raman , while speaking at the company's post Q1FY25 earnings conference call, said that around 60 percent of the prospective order pipeline of Rs 9 trillion will come from projects in India. The prospective order pipeline for the energy sector is about Rs 2 trillion rupees, The consolidated order book of the L&T group stood at Rs 4,90,881 crore or Rs 4.9 trillion as on June 30, 2024, with international orders having a share of 38 percent, the com...

  India's oil, gas exploration offers $100 billion opportunity: Hardeep Singh Puri Oil Minister Hardeep Singh Puri called for stepping up oil and gas hunt to cut India's reliance on imports and making available fuel at an affordable and sustainable way. Speaking at the Urja Varta conference, he said the exploration and production (E&P) sector is integral in the journey towards energy self-sufficiency, which is critical for sustained economic growth. E&P offers investment opportunities worth USD 100 billion by 2030 Stating that India's exploration and production potential still lies untapped, he said, "I find it strange that India is so heavily reliant on oil imports despite the abundant geological resources available to us." The Indian sedimentary basins hold about 651.8 million tonnes of crude oil and 1138.6 billion cubic meters of natural gas Puri said only 10 per cent of sedimentary basin area is under exploration, which will rise to 16 per cent by 2024...

  L&T Technology Services down 20% LTTS has won a first-of-its-kind program in India worth around $100 million (INR 800 Crore) from Maharashtra State Cyber Department, under the Government of Maharashtra. This initiative extends LTTS’ commitment to developing secure, digitally interconnected smart and safe cities through premier Cyber Security and Digital Forensic solutions consolidated under one umbrella. FY24 Revenue of ₹9,647 crore, up 9% YoY  FY24 Net profit of ₹1,304 crore, up 8% YoY EBIT of ₹16,474 million for the year; EBIT margin at 17.1%  Net Income of ₹13,037 million for the year, growth of 7.6%;  Net margin at 13.5%   Final Dividend of ₹33 per share; Dividend pay-out ratio (1) of 41% for the year  ROE (2) of 27% for the year

  Star Health Insurance Records PAT Growth of 37% to Rs 845 Crores in FY24  The Company has further strengthened its distribution network with an addition of 75,000 agents in FY24, taking the overall number of agents servicing customers to 7,01,000.  Star Health Insurance’s market share was up 22 bps among general insurance companies to 5.26%; while it continued to maintain its leadership in the retail health insurance sector with a 33% market share In FY’24 the Company reported a record profit of Rs 845 Cr, up 37%  An increase of 18% in Gross Written Premium (GWP) to Rs 15,254 Cr.  The Combined ratio was 96.7% in FY24 

  ADANI ENTERPRISES: PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore households PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore households The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved  PM-Surya Ghar: Muft Bijli Yojana  with a total outlay of Rs.75,021 crore for installing rooftop solar and providing free electricity up to 300 units every month for One Crore households. The Prime Minister had launched the scheme on 13th February, 2024. Module Sales in MW : 110%  to 2679 in 2024 Integrated Manufacturing Solar

  Kansai Nerolac Paints: On radar For the year net revenue was Rs. 7393 Crores, growth of 4.4 % over the same period of the previous year.  EBIDTA was at Rs. 1023 Crores, a growth of 28.8 % over the same period of the previous year.  PBT before exceptional items was at Rs. 924 Crores, a growth of 42 % over the same period of the previous year. The initiatives in the areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects are yielding results for the company.  Going forward, the forecast of a good monsoon should augur well for paint industry The size of domestic paint industry is estimated at around Rs. 75000 crores as of March 2024. The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.  Mostly the profit was made of land sale and not because of business

General Insurance Corporation of India:  Transcript financial results for the quarter and year ended 31st March 2025 Domestic premium for the year FY '25 is Rs. 30,662.44 crores and the international age Rs. 10,491.51 crores.  The percentage split is domestic 75% and international 25%.  The domestic premium for the year grew by 18.8%, while international business witnessed decline of 7.8% over previous year  Obligatory business would constitute say something like 30% of book Growth in the international business?  Going forward, impetus is that look forward to the new markets where have been moved out, or because of rating downgrade in the year '20, not able to renew some of the accounts  Now trying to look into those territories where can reenter them and to bring about or to renew those accounts, or to gain those accounts which are lost.  Also looking into the accounts where have better opportunity or better control to increase line.  Want to inc...

India's household debt has risen, but deeper analysis reveals it's driven by more people accessing credit While overall household indebtedness has indeed increased in India, the situation may not be as dire as the headline numbers suggest India's household debt has risen, but deeper analysis reveals it's driven by more people accessing credit, especially super-prime borrowers using debt for asset creation. However, rising consumption loans and delinquency concerns, particularly in microfinance, highlight emerging risks India’s household debt rose to 42.9% of GDP (at current prices) at the end of June 2024, from 37.6% of GDP in March 2023, as per the Reserve Bank of India (RBI) Financial stability report for December’24  Shows that indebtedness of Indian households did increase during this time period. And to the extent that per capital debt increased, the largest contributors were super-prime borrowers, who generally borrowed for asset creation. Household debt increase ...

What’s happening in Banking Sector?  • Yes Bank got Japanese Investor (Japanese investors are very conservative and come for long play only)  • IDFC First Bank approved Preferential issue of equity shares to Warburg Pincus LLC  • IDBI Bank talks for divestment picking up pace and intendant to be done in FY26  • Bank Nifty rising steadily from March mid around 47800 levels regularly showing resilience  • RBI gave Bazooka push with 50 bps cut and 100 bps CRR cut.  Study from FY16 to FY25  • Net Loans and Advances rose with a CAGR of 9.8% from FY16 to FY25  • Last 4 years we have back to back seen growth of double and FY25 had seen lot of uncertainties inspite that growth slowed but still clocked 10%+. (FY22 to FY24 YoY growth has been rising )  • 100 bps reduction in Repo rate in last 6 months with Rural performing good and outlook is better due to expected monsoon, urban picking up , Tax cut benefit start flowing in ….good growth in Advances w...

  eMudhra Track Record of Delivering Consistent Growth with Accelerated Profitability “One Stop Shop” Solution Provider in Secure Digital Transformation   Large system integration partnerships with TCS, Infosys 25.9% PAT 38.1% EBITDA Margin  On Trust Services, continue to focus on driving growth through direct sale to retail customers through our online channels and by acquiring and engaging with a larger set of partners who directly deal with end customers. To this end we will invest into technology and marketing to drive direct customer acquisition.   10 out of Top 10 Banks, 6 out of Top 10 Automotive, 19 out of Top 20 companies in ET 500 Offer private cloud/on-prem (preferred by Banks and regulated industries)     Similarly, remain focussed on growing eSign and SSL business as more use cases around paperless transformation and cyber security in government and private sector get implemented.  On Enterprise Solutions, continue to see healthy demand in...

  Tata chemical: EBITDA growth driven by higher realizations in all geographies   Consolidated Income from Operations stood at ₹ 4,148 Cr up by 32% and Consolidated EBIDTA stood at ₹ 922 Cr up by 69% for Q3 FY23 Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “The global demand-supply situation continues to be balanced and an improving demand bias, driven by reopening and stabilisation of economic activity including newer application like solar glass, resulted in stable realisations. We continue our focus on executing expansion projects. Our digital and sustainability transformation agenda continues in partnership with our customers and other stakeholders”.  Higher revenue on account of better realizations and stable demand   Input costs still elevated but stable   EBITDA growth driven by higher realizations in all geographies    

 GHCL has been able to sustainably expand capacities in-line with better demand scenario performance has been consistently strong, as demonstrated by positive demand trends. Both revenues and profitability reported healthy accretion during the quarter on y-o-y basis. While the Textile industry faced challenges, the Inorganic Chemicals segment saw notable growth, driving overall success Inorganic Chemicals – Given the current market dynamics, we remain optimistic about continued growth in inorganic chemicals. Going forward, the demand is expected to get an additional boost from emerging segments such as solar glass and lithiumion batteries.      Efficient Capital Allocation 9M FY23 Net Debt:  Rs. (6)cr 29% ROE       Soda Ash is a managed product given the complexities involved around raw material management, process expertise and supply chain capabilities/ logistics  • The strength of the business model lies in how the Company navigates t...

  TCI Freight Division: Core competencies and capabilities   One of India’s premier organized freight services provider with pan India presence & to SAARC 700 IT Enabled Owned offices, 25 Strategic Hubs  Truck under Operation : 4500+ :Owned : 120  • Single window Key Account Management (KAM) solutions for managing information flow and tracking.  Growth momentum amidst festive seasons and year-end stocking and higher volumes from large customers  • With optimum cost structure, margins and ROCE remained stable and offset pressure of general inflation in input prices      

  SRF: Established relationship with marquee customer   9M FY23:  Profit After Tax % Y-o-Y of  24.7%  Profit After Tax Margin (%) :  14.4%  EBITDA Margin (%) :  24.6%  In 9M FY23, SRF successfully launched 4 new Agro products and 1 new pharma product  High level of customer engagement with global innovators.  Complex and advanced products and AIs remain in focus Continued emphasis on de-risking supply chain as well as reducing costs by improving processes      Capex Update ❑ The Board has approved a project for setting up a new and dedicated facility to produce an agrochemical intermediate at Dahej at a projected cost of ₹110 crore to meet the growing demand for the product in the future. It is expected to be commissioned in 10 months Capex Update ❑ The Board has approved a project for setting up a range of Specialty Fluoropolymers at Dahej at a projected cost of ₹595 crore. It is expected to be commissioned in 2...

  Shyam Metalics implements 1.2 MT of Pellet Capacity 8 Months ahead of Schedule Shyam Metalics and Energy Limited (SMEL), a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys, has started the new year on a positive note receiving Consent to Operate (CTO) from the Orissa State Government.  In its growth plans, the company had envisaged a capex of Rs. 360 Crores to increase the capacity of iron pellet production from 3.6 MTPA to 6 MTPA.  Will boost the existing capacity at Sambalpur plant by 1.2 MT, bringing the total capacity at Sambalpur to 3 MTPA and overall Pellet Capacity for the Company at 4.8 MTPA. Once again, the company is proud to report early implementation.  This expansion at Sambalpur was slated to be completed by September 2023, has come through Eight (8) months ahead of schedule. This has resulted 40% additional capacity in the plant for producing Pellets.  Commenting on the developments, ...

  Nippon India : Less than 3% of the population invests in MFs MF under-penetration presents significant growth potential  Less than 3% of the population invests in MFs    As on December 31, 2022, NAM India’s assets under management was Rs. 3,60,292 crore One of the largest bouquet of 25 ETFs in the industry across Equities, Debt & Commodities (  14% Market Share )    Nippon India Alternate Investments (NIAIF)   Fully committed the two Real Estate mandates of offshore investors ❑ First closing of successor RE fund “Nippon India Yield Plus AIF Scheme 4”, with Japanese Investors undertaken in Oct 2022; fund has made 2 investments till date   Offshore Business - Creating ‘expressways’ globally    

  LT Foods: Focus on strategic pillars of Growth, Margin Expansion and Strengthening of Financial Metrics Focus on strategic pillars of Growth, Margin Expansion and Strengthening of Financial Metrics to create a fully integrated, global, strong, progressive, sustainable, predictable, profitable, and growing consumer business   Strong Progress in Q3 in India backed by 360-degree marketing campaigns Market Share % :  29.4%  Revenue up 31% y-o-y aided by accelerated brand investments across all 3 business segments – Basmati & Other Specialty Rice, Organic and Convenience and Health business  PAT up by 24% y-o-y at ₹291 Crore  Return on Equity :  16.9%     

 ONGC has compiled its financial results for the quarter and financial year ended 31st March 2025 ONGC is the highest profit making CPSE Thinking of investing big in this vessel business too, because this is something that is line of business and also continues to be a good profit space The company has earned a profit after tax amounting to INR 35,610 crores during financial year 2025 as against PAT of INR 40,526 crores in financial year 2024, a decrease of INR 4,916 crores, which is about 12.1% down.  Sales revenue for financial year 2025 is INR 137,361 crore against INR 137,774 crores in financial year 2024, partly because of lower per barrel realization of crude oil.  During financial year 2025, operating expenditure increased marginally by INR 753 crores, that is 2.8%, from INR 26,725 crore in financial year 2024 to INR 27,478 crore in financial year 2025. During financial year 2025, there is an increase in exploration cost written off (survey and dry well) costs by I...

  IRFC down 20% from Top 4,64,641 Crores AUM   4,12,032.10 Crores Total Borrowings   Profit After Tax for the year ending 31st March 2024 was 6,412.10 crores as compared to 6,167.16 crores for the previous year, registering a growth of 3.97 %. Indian Railways (IR) with its 4th largest network in the world, has been the backbone of the transportation sector in India, carrying millions of passengers and cargo from one part of the country to the other.  Indian Railways is targeting high benchmarks in its aim to provide easy and comfortable mobility for passengers and a fast and eco-friendly freight network.    Indian Railway Finance Corporation (NBFC-NDSI-IFC by RBI) is a schedule-'A' Miniratna CPSE under the administrative control of Ministry of Railways (MoR)   IRFC's charter allows financing of project with forward and backward linkages.  In this regard, company is exploring opportunities for investments in railway infrastructure project...

  GHCL Limited has been allotted 6449 hectares of lease land at Zara Zumara, Kutch for salt production.  The lease agreement for the same has been executed on August 1, 2024, and it is valid for a period of 30 years. This is a significant milestone for the Company and once the same is developed, will cater to salt requirement for upcoming Soda Ash Greenfield project at Kutch and also for bromine expansion.   The Greenfield soda ash plant is progressing as planned, and anticipate the commissioning of Vacuum Salt and Bromine projects in the upcoming year.  Additionally, the benefits from Salt Yield enhancement and Sodium Bi-carbonate expansion initiatives will contribute significantly to performance this year News: While the global soda ash market exhibits a mixed outlook with strong demand in certain places but with overall weaker pricing, co. is encouraged by the positive trends in India.  Domestic consumption is robust, driven by demand from key segme...

  Aditya Birla Capital Q2 net profit up 42% to Rs 1,001 crore, stock jumps 5%; AUM expansion, insurance gains help DELIVER 25% GROWTH IN AUM & SUSTAINABLE ROA IN MEDIUM TERM The company’s consolidated lending portfolio, comprising its NBFC and housing finance segments, rose 27 percent on-year to Rs 1.38 lakh crore as of September 30. The firm's NBFC arm saw assets under management (AUM) expand to Rs 1.14 lakh crore, marking a 23 percent rise from a year ago. The housing finance AUM surged 51 percent to Rs 23,236 crore.   In asset management, ABCL’s mutual fund quarterly average AUM increased by 23 percent on-year to Rs 3.83 lakh crore. Across insurance segments, life insurance individual first-year premiums grew 33 percent year-on-year to Rs 1,578 crore in the first half of FY25, and health insurance gross written premiums surged 39 percent to Rs 2,171 crore over the same period.   ABCL’s total AUM, which includes contributions from asset management, life, and he...

    Allcargo Gati recently announced roll out of over 1,700 rebranded vehicles   Allcargo Gati recently announced roll out of over 1,700 rebranded vehicles, including a range of Alternative Fuel Vehicles (AFVs), across India for first- and last-mile deliveries.  This initiative aligns with Allcargo Group’s broader rebranding and sustainability goals, aimed at achieving carbon neutrality by 2040.  Allcargo Gati remains dedicated to empowering MSME markets by leveraging its extensive transportation network, ensuring reliability and scalability for businesses to reach customers across the country.  With direct delivery services to over 5,400 pin codes and access to 19,800 pin codes across 735 out of 739 districts in India, Allcargo Gati offers its customers enhanced transit times and delivery efficiency through superior traceability and connectivity.  This extensive network provides exceptional reach, especially in tier 2 and tier 3 cities, empowerin...

  Chambal Fertilisers: Technical Ammonium Nitrate  plant with a capex of Rs 1,645 crore Chambal Fertilisers, a new entrant, is setting up a 2.4 lakh MTPA-ammonium nitrate plant with a capex of Rs 1,645 crore Overall progress achieved ~37%   Larsen & Toubro bags EPC contract for Chambal Fertilisers and Chemicals' TAN Project The size of the contract is Rs. 960.71 crore and is scheduled to be completed within 30 months from April 5, 2023 Chambal Fertilisers and Chemicals Limited accounts for nearly 13% of the total urea produced in the   country The company plans to set up the TAN plant as well as a 210,000 tonne/year weak nitric acid (WNA) line at an estimated cost of Indian rupees (Rs) 16.45bn Chambal currently produces excess ammonia at its fertilizer plants at Gadepan which is sold in the domestic market The WNA unit will provide feedstock for the TAN plant. “The demand for TAN in India outstrips the supply and many producers are forced to depend on i...

  Landmark Cars:  Asset-light Only 2 out of 133 outlets are owned     21 New Outlets in FY25 The company’s investment in facilities with high growing brands in high growth regions is creating a strong base for solidify ing market leadership    The company has kept new car inventory under control to ~41 days, significantly below the 80–85-day industry average.  The company has foregone some margin to achieve this. Full impact of important new car launches and newly opened outlets backed by seasonality factors point towards much better H2 The company has operationalized 21 out of 23 new outlets planned for the year till date.  Of these 12 were opened in Q2FY25 and 6 were opened in Q3FY25.  These outlets were operational before the planned timeline and the capex remained within the budget  Undertaking expansion with fast growing brands like Mercedes Benz, MG, Kia and M&M  Venturing into emerging territories with high growth potenti...

  Utpal Sheth: Worked with Rakesh Jhunjhunwala  Growth phase : One of the earliest influences for Utpal Sheth came from his father, Ramesh Sheth. “He used to talk about a concept called growth phase. He was a big believer in that—that every company goes through a growth phase. In today's lexicon, effectively, we use the word inflection point,” Sheth explained.“When you have a growth phase or inflection point combined with a favourable mega trend and leadership attributes and intangibles, that becomes magical.” Valuation discipline: Another key learning was around valuation discipline. “That was something I learned from all of these investors,” he said. “That discipline was most valuable when they were investing in high quality companies. Having valuation discipline when you're investing in companies which don't have that high quality is very different.” To get such companies at a price that makes sense, he said, “there must be some temporary cloud on those companies. Otherw...

NTPC Limited Q4 / FY25 Earnings Conference Call 24 May 2025  FY25 has truly been an eventful year for the NTPC Group On a consolidated basis, the NTPC Group's total income for FY25 rose by 5%, amounting to ₹190,862 crore compared to ₹181,166 crore in FY24.  Group PAT registered a robust growth of 12% to reach ₹23,953 crore.  This growth was significantly bolstered by a 35% rise in share of joint venture profits, which reached ₹2,214 crore.  Additionally, NTPC's subsidiaries’ profits rose by 6%, reaching ₹4,139 crore.  Dividend income also witnessed substantial growth, with ₹2,092 crore accounted for in FY25 from subsidiaries and JVs, compared to ₹1,630 crore during FY24 - truly a testament to the value creation across group entities. For FY25, the Board of Directors have recommended a final dividend of ₹3.35 per share, subject to approval by the shareholders at the upcoming Annual General Meeting.  Interim dividends totalling ₹5.00 per share have already b...

NGEL's Remarkable Journey Performance of NTPC Green Energy Limited During FY25, NGEL added 2,977 MW of renewable energy capacity, bringing its total commercial capacity to 5,902 as of March 31, 2025 - a steep increase from 2,925 MW a year earlier.  NGEL's generation performance has been equally impressive, producing 6,828 million units in FY25, representing a growth of 20% from the 5,712 million units generated in the previous year.  Despite some weather-related challenges, NGEL's stations delivered a commendable Capacity Utilization Factor of 24.07%.  The financial metrics are equally robust.  NGEL's total income for FY25 surged by 21% to ₹2,466 crore, compared to ₹2,038 crore in the last year.  Total EBITDA also rose significantly by 19% in FY25 to ₹2,172 crore, compared to ₹1,819 crore in the previous financial year.  NGEL’s operating EBITDA margin has improved to 90.04% in Q4 FY25 as compared to 85.96% in Q4 FY24, underscoring the robust profitability o...

Adani’s life is a lesson in risk-taking, strategic foresight, and relentless ambition. From the dusty streets of Ahmedabad to boardrooms across the world, Adani’s rise is not just about building a business empire He underlined that strength encompasses purpose, clarity, and the determination to rise, while resilience is defined not just by endurance but by the ability to reinvent oneself in difficult times. As he celebrates his birthday this year, the story of Gautam Adani continues to evolve Despite setbacks, including regulatory challenges and market turbulence, Adani’s confidence in India’s long-term growth story remains unwavering. “India is on the cusp of becoming a global manufacturing hub, and we at Adani Group are deeply committed to nation-building,” he once said. "In the face of significant challenges and ongoing scrutiny, we have not retreated," Adani asserted in the most recent annual report from Adani Enterprises. "Instead, we have recalibrated, reimagined, ...

  Andhra Paper to exploit opportunities in Paper Board Segment through expansion and capacity addition  Board of Directors at their meeting held on January 31, 2023 have accorded an in-principle approval to prefeasibility report to exploit opportunities in Paper Board Segment through expansion and capacity addition by setting up an integrated Green Field Project at Unit Kadiyam.  It is proposed to install approximately 175,000 Ton per annum board machine (KA#4) along with ancillary and support infrastructure concerning the project.  The existing production capacity is 87,000 TPA. The proposed capacity addition is 2,21,000 TPA (Pulp) and 1,56,000 TPA (Paper Board).  In this regard, the Company will file necessary applications with the Ministry of Environment & Forest for Climate Change (MOEF) for Environment Clearance and further approvals concerning the project shall be sought from concerned regulatory authorities including local, state and central authoriti...

  Schneider Electric Infrastructure: Emerging Segments Emerging Segments: Renewables segment is something that is very important in terms of the changing energy mix of the country. The budget also allocates a good amount of impetus to these segments. The 5G rollout should further strengthen the Cloud & Services segment. E-Mobility maturing into a strong business proposition as we see the mix change from -- for passenger vehicles from conventional petrol and diesel to more electric vehicles and the charging facilities that are coming around the country. E-Mobility :  Foreseen reduction in EV Costs to propel uptake of EV & Infra Spend In automotive Industry -  The Transportation segment is a key segment, which is where most of the spend is going to happen in terms of modernization of the railways, the metro networks and airports that are going to be built Cloud & Service Provider :  Improved scope for Equipment Asset management services due to Boost in data...

  CMS Info Systems : The firm has set sights on an annual turnover of Rs 5,000 crore by 2030, up from the estimated Rs 1,600 crore in FY23.  It is looking to foray into new business lines, such as collection and recovery services. Its capital expenditure is expected to be Rs 100-150 crore per annum for FY24 and FY25.  The capex levels will be lower than over Rs 200 crore each in FY22 and FY23, which saw the peak investment phase. CMS Info Systems : The firm has set sights on an annual turnover of Rs 5,000 crore by 2030, up from the estimated Rs 1,600 crore in FY23.  It is looking to foray into new business lines, such as collection and recovery services.  CMS Info Systems accelerates growth for its latest ‘Remote Monitoring Service’ (RMS) business Powered by AI & IOT CMS Info Systems Limited, India’s leading business services company offering banking logistics and technology services, accelerates its new business – AIoT Remote Monitoring Service (RMS) to ove...

  Voltas Ltd. has bagged multiple SITC project orders worth ~INR 1770 Crores in the Electrical Power Distribution business   Universal MEP Projects & Engineering Services (UMPESL), a 100% subsidiary of Voltas Ltd. has bagged multiple SITC project orders worth ~INR 1770 Crores in the Electrical Power Distribution business for FY 22-23, including a solar power project.  These orders were won in the highly competitive market and will benefit more than 46 million Indians across states like Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Karnataka   UMPESL, with its expertise in the Power Distribution sector over the past several years has taken up these project orders to support the Government of India’s mission of providing 100% quality, reliable, and affordable power supply to consumers and households across India Several state-owned distribution companies and private players, including MPPKVVCL and MPMKVVCL in Madhya Pradesh, MVVNL in Uttar Pradesh, WBSEDC...

  Garware Hi‐Tech Films: Sun Control Film and Paint Protection Film   A strong balance sheet with negative net debt, low working capital cycle and consistent cashflows from our world‐class value‐added products   Dr S. B. Garware also said, “Our investments in Sun Control Film and Paint Protection Film businesses would drive top‐line and bottom‐line growth going forward. With the 250‐300 LSF PPF and 1,800 LSF lamination facilities we will be best positioned to capture the latent demand from the automotive sector in the USA once inflationary pressure eases.”    9M FY23 Revenue at Rs. 979 crore, up by 11.2% 9M EBITDA at Rs. 199 crore, 9M PAT at Rs. 123 crore  Sun Control Film: About half of the GHFL’s revenue comes from Sun Control films which has applications across the automobile and architectural industries. The commissioning of an additional manufacturing facility has increased the Sun Control film capacity by 70%. Our brand ‘Global Window Films’...

    TIPS Industries Doubles Revenues over Two Years   Revenue:  186.8 Vs  135.6 ( G: 38% )  Op. EBITDA % :  54.6% Vs  63.6%    PAT:  76.5 Vs  64.6 ( Growth:  19% )  PAT Margin :  41.0% Vs  46.5%     The content cost for the year was Rs. 62.4 Cr which has risen by 95% over the previous year For FY23 the company released 896 new songs  YouTube subscribers now stand at 82.1 Mn.  For FY23 YouTube views were 112.7 Bn up 89% y-o-y    Latest releases including PS-1, performed exceptionally well. Two songs of Freddy have crossed 55mn+ views, and the YoYo Honey Singh “Yai Re” has crossed over 35 mn views   Successfully completed buyback of the maximum permissible amount of Rs. 40.1 Cr during the year        Net cash flows from Operations: 82 Vs 29     Only listed player to write off 100% of content cost in the quarter of release Debt free...

  Life Insurance Corporation of India: 2.04 crore polices sold in the individual segment during FY 23 The Assets Under Management (AUM) increased to Rs. 43.97 lakh crore as on March 31st,2023 as compared to Rs. 40.85 lakh crore on March 31st,2022 registering an increase of 7.65% year on year. The Profit after Tax (PAT) for the year ended March 31st 2023 was Rs. 36,397.40 crore as compared to Rs. 4,043.12 crore for the previous year ended March 31st, 2022.  In terms of market share measured by First Year Premium Income (FYPI) (as per IRDAI) LIC has maintained its leadership in Indian life insurance business with a market share of 62.58% for FY 2022-23  Market leadership with 62.58% market share with 16.67% FYPI growth • Profit After Tax at Rs. 36,397 crore  • Board recommends dividend of Rs. 3/- Per Share (Previous Year Rs 1.50/- per share)  • Value of New Business (Gross) grows by 16.46% to Rs.11,553 crore  • VNB margin (Net) increased by 110 bps to 16.2%, ...

Looking to park some excess funds for the short term.  LiquidBeES by Nippon - has been the default choice for years. But lately, it’s become muscle memory to run everything past ChatGPT.  Just a quick: “Is there a better option than LiquidBeES?” It turns out, there is.  LIQUIDCASE by Zerodha AMC.  Difference was not subtle and decision was easier : - Expense ratio: Less than half of LiquidBeES - Net returns: ~6.2% vs ~5.7% (1-year annualized) - Same safety, same liquidity - AUM already >1/3rd of LiquidBeES in record time This is how discovery is changing. And this is how smart products go viral. Zerodha didn’t try to educate the market.  Discovery is no longer driven by ads or advisors.  It’s driven by habit, trust, and tools like ChatGPT. And when you get it right, traction follows fast. I won’t be surprised if LIQUIDCASE overtakes LiquidBeES in under 18 months.