Biggest #COVID19 casualty

Post Jan2020, the #crudeoil prices collapsed 60-70%. The company has major dependence on global oil & gas players for its order book.

However, we feel Welspun Corp’s strong cash & investment position in the #balancesheet and very low #longtermdebt will help the company withstand the current turmoil and bounce back stronger.

Read 25 tweets

Phoenix Capital

@phoenixcapindia

25 May

#DeltaCorp - A #Gaming Behemoth

Cmp-74
Market Cap- 2,016 cr
Industry- Gaming/Casino

1) Company Overview

Delta Corp only listed casino operator in India enjoying 55% #marketshare in organized #casino market

Along with its casino business, company also owns #Adda52 a leading online poker.

It has licenses in all casino destinations ie #Goa, #Daman & #Sikkim.

2) Competitive advantage & strong entry barriers

Delta owns 3 out of 6 offshore casino licenses and has a total installed capacity of 1lac sq feet and 1200 gaming positions.

The last license issued by Government of Goa was in 2011.

Read 18 tweets

Phoenix Capital

@phoenixcapindia

27 Feb

#MayurUniquoters - Largest Player In Indian Synthetic Leather market scripting a turnaround available at an attractive valuations.

Market Cap : 1200 cr
CMP : 262

Market leader in Synthetic Leather foraying into PU (Polyurethane) leather business which is dominated by #Chinese Imports

With the recent health scare due to #CoronaVirus global customers have realized the importance of non-dependence on single country for its RM

Synthetic leather finds its application in Automobile Seat Covers, accessories, roof linings & footwear.

Read 8 tweets

Phoenix Capital

@phoenixcapindia

24 Feb

#SBI - Potential #Turnaround play in #PSUBank space.

Brief Overview

CMP - 323
Market cap - 2.88 lakh crs

SBI is the largest state owned bank in India having an #AUM of 25 lac cr

PSU banks have had a rough 5 odd years owing to abnormal rise in #NPAs arising from mostly the 2004 to 2014 era.

SBI has spent 5 years from 2014-19 to provide for all the toxic assets and #badloans.

Their #Provisions alone for the last 4 years have been a massive 2.3 lac cr, equals the size of entire loan book of Kotak Bank.

Their provisions in most #NCLT 1 cases are at 100 percent.

Mgmt expectation - SBI to recover 40% of total NCLT cases in next 3 yrs i.e. about 90k cr

Read 5 tweets

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