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As Philip Fisher said: Getting a reality check directly from people associated with co. gives us "much deeper" insights☝️v/s just reading reports & financials
Here's a🧵on Scuttlebutt insights on 6 key industries:
FMCG (ITC, Emami), Cigarette, Cement, BFSI, Textile & Paint
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Here's a🧵on Scuttlebutt insights on 6 key industries:
FMCG (ITC, Emami), Cigarette, Cement, BFSI, Textile & Paint
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Industry 1) FMCG
↪️ ITC is making new highs & now everyone’s fav stock🙂Wondering what changed? This:
Packaged food seg. doing well:
- Aashirvaad saw healthy growth with ~4% price hike
- Yippee gained market share from Maggi🏆
- Biscuit & bingo: Decent performance
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@dmuthuk
↪️ ITC is making new highs & now everyone’s fav stock🙂Wondering what changed? This:
Packaged food seg. doing well:
- Aashirvaad saw healthy growth with ~4% price hike
- Yippee gained market share from Maggi🏆
- Biscuit & bingo: Decent performance
2/n
@dmuthuk
↪️ Emami & Zydus wellness:
- Rural demand remains weak
- Poor traction in summer products & Balm portfolio
Still, there's a sign of relief among dealers in this segment till the time Jiomart doesn’t enter this space
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- Rural demand remains weak
- Poor traction in summer products & Balm portfolio
Still, there's a sign of relief among dealers in this segment till the time Jiomart doesn’t enter this space
3/n
Hello everyone👋Last week, ITC hosted its 1st ever investor call, but didn't include what existing shareholders wanted to hear- Concrete demerger plans.
A 🧵on- "Will the apparent value unlocking opportunity in ITC, really unlock value"?
A 🧵on- "Will the apparent value unlocking opportunity in ITC, really unlock value"?
First, look at ITC's segment wise contribution in total sales & EBIT:
- Cig. sales consistently declining since the last ~7 yrs.
-Rev. contribution of ex-cigarette segments is significant but the EBIT contribution is not material.
- Cig. sales consistently declining since the last ~7 yrs.
-Rev. contribution of ex-cigarette segments is significant but the EBIT contribution is not material.
Management is planning to demerge & list- Hotel, FMCG-others & Infotech businesses separately.
This is being conceived as value unlocking for existing shareholders because of notion that there will be multiple expansion in individual segments.
This is being conceived as value unlocking for existing shareholders because of notion that there will be multiple expansion in individual segments.
Happy Saturday morning!☕️
This week's newsletter covers these topics:
1⃣ Market snapshot for the week
2⃣ How telecom companies are responding to reforms
3⃣ We explain the FED event with our view
4⃣ Some curated charts and reads
#Multipieweekly
multipie.co/blog/multipie-…
This week's newsletter covers these topics:
1⃣ Market snapshot for the week
2⃣ How telecom companies are responding to reforms
3⃣ We explain the FED event with our view
4⃣ Some curated charts and reads
#Multipieweekly
multipie.co/blog/multipie-…
Telecom sector has seen consolidation over the last decade, but saw limited returns due to price war and policy logjams..Are the tides turning now?
Understand why Telecom companies are rallying after recent reforms 👇
multipie.co/blog/multipie-…
Understand why Telecom companies are rallying after recent reforms 👇
multipie.co/blog/multipie-…
Dovish, hawkish, taper, liquidity. If these terms confuse you, we have simplified the FED's recent moves and what it means for markets. Click here to read 👇
multipie.co/blog/multipie-…
multipie.co/blog/multipie-…
Half of 2021 is over and market is showing some distinct patterns. Let's dissect the trends.
1/11
Thread🧵
multipie.co/blog/2021/07/0…
1/11
Thread🧵
multipie.co/blog/2021/07/0…
2/11
YTD (Jan-Jun):
📊Index: 17%; Overall market returns: 20%
📈Industrials, Power &Commodities best performers - old school capex heavy sectors
↔️ Asset light & new age has underperformed
🕺The rally has shifted to small & micro caps (YTD returns of 38% vs 17% for large caps)
YTD (Jan-Jun):
📊Index: 17%; Overall market returns: 20%
📈Industrials, Power &Commodities best performers - old school capex heavy sectors
↔️ Asset light & new age has underperformed
🕺The rally has shifted to small & micro caps (YTD returns of 38% vs 17% for large caps)
3/11
Cash volumes have dried out on NSE in the last few weeks, indicating some tiredness in the rally:
Cash volumes have dried out on NSE in the last few weeks, indicating some tiredness in the rally:
Hello folks!
Take a work break and check out what we found interesting - snippets, reading and video links from last week.
Sharing curated #MultipieWeekly🌱(#3) for you
1/12
Take a work break and check out what we found interesting - snippets, reading and video links from last week.
Sharing curated #MultipieWeekly🌱(#3) for you
1/12
1. Banking result season for Q4 has come to a close, so we compared "Total net addition of stressed loans" across Tier I Banks in FY21.
Do you see a surprise?
Data source: Ambit research
2/12
Do you see a surprise?
Data source: Ambit research
2/12
2. We found this table on valuation of agro-chemical players worth highlighting.
At 43x P/E, the mean valuation of the pack is higher than historical averages and inching towards FMCG valuations. Is there Margin of Safety?
Note: EV = MCap + Net Debt (Debt - Cash)
3/12
At 43x P/E, the mean valuation of the pack is higher than historical averages and inching towards FMCG valuations. Is there Margin of Safety?
Note: EV = MCap + Net Debt (Debt - Cash)
3/12
It's a new week and a pleasant rainy morning here in Mumbai!
Grab some tea/ coffee as we share some snippets and readings from the week gone by that we found interesting.
#MultipieWeekly
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Grab some tea/ coffee as we share some snippets and readings from the week gone by that we found interesting.
#MultipieWeekly
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1. Interesting slide from CRISIL that depicts the trend of raw material cost inflation across industries and their ability to pass on the cost to end user (pricing power).
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2. General and health insurance companies are seeing a major spike in Insurance claims as a result of larger than anticipated second wave.
Source: Business Standard
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Source: Business Standard
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