Varinder Bansal 🇮🇳 Profile picture
Nov 2, 2020 16 tweets 4 min read Read on X
Results declared b/w 30th Oct - 1st Nov #excelgiri #resultsxray

PS: Use ur own wisdom, view on results can vary person to person. I am still learning Image
Max Life: Solid results
VNB margins surprise
Market share improved to 11.1%, highest in decade
Clarity on axis-max deal
19% to to split in 3 ways
Axis Bank to acquire 9% stake in Max Life
Subsidiaries will jointly acquire 3%
Further, the group entities will acquire 7% later
Strong results + reasonable valuation
Motilal Oswal
M-cap 8230 cr
Total Revenue up 14% (broking up 40%)
Broking: Highest ever revenue & profit in Q2FY21
Reported pat up 108% at 296 cr (included mtm pat)
Operating pat up 33% at 123.3 cr
Net of investments, co has net cash
Jindal Stainless Ltd
Strong results + reasonable vals
M-cap 3048 cr; 1.2 p/b, 11% roce
Sales up 1% yoy, up 140% qoq
Sales vol surged 159% qoq, down 1% yoy
Ebidta up 8% yoy, up 440% qoq
EBITDA/ tonne at Rs. 15,293, up 13% Y-o-Y
Pat up 116% yoy, at 82 cr (last quarter loss 122 cr)
Greenpanel Inds.
Strong results + reasonable vals
M-cap 900 cr
What a strong comeback
Sales up 17%, ebidta up 54%, pat up 385%
Sales at 225 cr vs 192 cr yoy, vs 90 cr qoq
Margins at 20.6% vs 15.6% yoy (loss in 1Q)
1.4x ttm pb
Intellect Design
Strong results + reasonable vals
M-cap 3165 cr
sales up 7.5% qoq, ebidta up 27% qoq, pat up 39% qoq
Ttm pe 24x, 2.7x pb
Global leader in Financial Technology for Banking, Insurance and other Financial Services.
IFB Ind
Strong results + reasonable vals
M-cap 2859 cr
Sales up 3.5%, ebidta up 63%, pat up 45%
Ebidta at 83 cr vs 51 cr
Margins at 11.2% vs 7.1%
Rain Ind
Strong results + reasonable vals
Sales down 14% but ebidta up 45%, pat up 44%
11x ttm pe, pb 0.7x, 7% roce
Watch for growth in sales & improvement in roce
Anup Eng
Strong results + reasonable vals
M-cap 611 cr
Sales up 40%, EBIDTA down 8%, PAT down 9%
14x ttm pe, 1.9x ttm pb, roce 20%
Order book up 25% to Rs.334 Cr as on 30th Sep 20
bseindia.com/xml-data/corpf…
Nitin Spinners
Strong results + reasonable vals
M-cap 288 cr
Sales up 15%, ebidta up 58% at 55 cr vs 35 cr, margns at 13% vs 9.4%
Pat at 12 cr vs 1 cr
Good results but expensive valuations
Relaxo: sales down 7%, ebidta up 21%, pat up 6.5%
Surprised across headline numbers
EBITDAM increased 520bps YoY to 22% (Ambit: 18.1%)
Expensive stock at 75x ttm pe
Good results but expensive valuations
Sheela Foam: sales up 22%, ebidta up 51%, pat up 18%
EBITDAM at 17.5% vs 14.2%
Expensive stock at 37xttm pe, 7x pb
Good results but expensive valuations
Hester Bios
Sales up 21%, ebidta up 43%, pat up 2.5%
50x ttm pe, 7x pb, 16% roce
Manufacturing of Poultry vaccines and Large Animal Vaccines and trading of Poultry and Large animal health products
Good results but expensive valuations
Grindwell Norton: sales up 12%, ebidta up 44%, pat up 23%
Ebidta margin at 21.3% vs 16.6% yoy, vs 8.4% qoq
34x ttm pe, 21% roce
V solid co
Good results but run-up & inconsistent
Tanla Solutions
M-cap 4423 cr (stock up 10 times frm 52-week low)
Sales up 28% qoq, ebidta up 30% qoq, pat up 3.5% qoq
Margins at 16.7% vs 16.5% qoq
Inconsistent margins over last 5-6 years
March 2020 sales 1943 cr, 9% margins, 211 cr loss
Weak results
Just Dial
Sales down 31%, PAT down 38%
Paid campaigns down 15.2% YoY (was down 13.7% in Q1)
New listings continues to remain weak, down 70%
Conference call at 6PM IST
Axis Cap: Downgrade to SELL (from REDUCE) with DCF-based TP of Rs 550 (vs Rs 560 earlier)

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More from @varinder_bansal

Dec 30, 2022
Few of my learnings as an investor in 2022. A thread. 🧵
1) Investing is simple but not easy. It is very hard to become a long-term investor. Sometimes, it can be a lonely road especially when your hypothesis gets tested again and again

cont..
2)Watching the screen and trying to assess daily moves can be hugely unproductive if you are a long-term investor. Lot of people sell great businesses looking at the screen

cont..
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Aug 14, 2022
🧵Thread.

Tribute to Rakesh Jhunjhunwala sir by @omkaracap

60 inspiring quotes & learnings from RJ sir

RT for maximum reach
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@omkaracap

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🧵Thread.

Tribute to Rakesh Jhunjhunwala sir by @omkaracap

60 inspiring quotes & learnings from RJ sir

RT for maximum reach
Read 25 tweets
Mar 8, 2022
General Q: Why talks of US banning Russia oil imports?

Simple Answer: US does not get impacted economically

Sadly, it is about politics over peace talks/ effort
Fact check: US imports only 3% oil from Russia

US Oil imports from Russia in 2021, at $4.71 billion, is a 45% decline from a decade ago.
Fact check: Now, let us look at US oil exports which increased almost 3,000% due to increase in domestic production brought on by fracking + ended 4-decade-long ban on oil exports, dating back to the Arab Oil Embargo of 1973.
Read 4 tweets
Nov 3, 2020
Results declared on 2nd Nov #excelgiri #resultsxray

PS: Use ur own wisdom, view on results can vary person to person. I am still learning
Strong results
Ramco Cement
Ebidta/ tonne near 2000
Sales down 4.4% yoy, Ebidta up 49% yoy, Pat up 42% yoy
Volume miss; realisations spiked 17% YoY (a major surprise)
Jefferies: raise FY21 EPS by 60%, retain Rs1,000 PT
TTM PE at 35, 12% roce
Strong results with reasonable valuations
Coromandel Int
Sales down 5% yoy but up 43% qoq
Ebidta up 18% yoy, up 104% qoq
Pat up 17% yoy, up 135% qoq
TTM PE at 16x, 25% roce
Read 14 tweets

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