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25 May, 4 tweets, 2 min read
Snippets from our Inaugral MissioN SMILE Webinar on 28th Feb 2021🙂
In this month's webinar, we are covering 3 businesses from the travel & travel related sector.

Date: 30th May, 2021

Register here if you wish to attend:

pages.razorpay.com/SSSPremResearch
To know more about MissioN SMILE, watch this 2 min video 🙂

MissioN SMILE members also get free entry to our other paid events.

We recently did one on Mahindra Holidays & Resorts India Ltd on the @Finvents platform.

Recording of the event has been shared with all the MissioN SMILE members.

Catch a glimpse of the webinar here. 🙂

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More from @SmartSyncServ

Smart Sync Services Profile picture
27 May
8th Post on Q4FY21 Results

Businesses covered:
~CCL Products
~Jyothy Labs
~Marico Ltd
~PI industries
1/
CCL Products

• Con Rev up 25% YoY & PAT up 17% YoY in Q4
• Freeze-dried at 62% utilization in FY21
• Vietnam utilization at 95% in FY21
• India branded Sales at Rs 100 Cr in FY21

Detailed Notes: bit.ly/3bYWzp3 Image
2/
Jyothy Labs

• Revenues up 25% YoY
• All categories except Fabric Care see >33% YoY growth
• Mkt shr gain of 120 bps in Exo, 130 bps in Pril, 170 bps in MaxoCoil, 40 bps in MaxoLV, 60 bps in UjalaW & 100 bps in UjalaIDD.

Detailed Notes: bit.ly/3fokbWg Image
Read 6 tweets
Smart Sync Services Profile picture
24 May
7th Post on Q4FY21 Results

Businesses covered:
~AU Small Finance Bank
~Bandhan Bank
~CreditAccess Grameen
~Ujjivan Small Finance Bank
1/
AU Small Finance Bank

• PAT up 39% YoY in Q4
• AUM up 22% YoY & deposits up 38% YoY despite flat disbursements in FY21
• GNPAs rose to 4.3%
• Overall collection efficiency at >120% in Q4

Detailed Notes: bit.ly/3wsf4do
2/
Bandhan Bank

• Revenues up 13% YoY & NII up 4.6% YoY in Q4
• Added 5 Lac customers in Q4 & 29 Lac in FY21
• GNPAs rose to 6.8%
• Interest reversal of Rs 525 Cr in Q4
• Collection efficiency in WB @ 98.3% & Assam @ 83%

Detailed Notes: bit.ly/3yAmHQP
Read 6 tweets
Smart Sync Services Profile picture
15 May
4th Post on Q4FY21 Results

Businesses covered:
~Apcotex
~Blue Star
~Tata Consumer Products
~Ultratech Cement
1/
Apcotex

• Revenues for the quarter were up 61.5% YoY
• Reported its highest-ever revenues, export volumes, EBITDA, PBT & PAT in a quarter in Q4
• Plants running at full capacity for XNB latex for gloves

Detailed Notes: bit.ly/3w98SGY
2/
Blue Star

• Q4FY21 Consol Rev up 26% YoY
• Order book at Rs 2952 Cr
• RAC sales grew 33% YoY & market share @ 13.25%
• Launched new range of pharma cold rooms, medical freezers, ice-lined refrigerators, & vaccine transporters

Detailed Notes: bit.ly/2QqnL8Q
Read 6 tweets
Smart Sync Services Profile picture
15 May
Please attend our webinar on Mahindra Holidays
16.05.2021,
11:30 am

This is not a recommendation to buy the stock.

WEBINAR IS FREE FOR MISSION SMILE MEMBERS.

pages.razorpay.com/finvents-mhril

Read on for a glimpse of what we will cover in the webinar.
How Mahindra Holidays as a good business does not require equity/debt infusion

~Role of ROA Vs cost of leverage in ROE
~Float
~Accounting BV Vs Economic BV

Read 5 tweets
Smart Sync Services Profile picture
14 May
In the book, “Thinking Fast & Slow”, Kahneman talks about Gary Klein who invented the premortem technique

This technique asks us to use “prospective hindsight”

Go in the future & analyze the past.

Like thinking today, “2-3 yrs out, how can this business go bust?”
Contra Bets are High-Risk High Reward bets.

If you win you win big, If you lose, you lose big too.

A thin line separates conviction and overconfidence in investing.

It is worth applying the Premortem technique here
In our analysis of the business potential of Mahindra Holidays, we have tried to apply the Premortem Technique to look at three ways in which MHRIL can go bust.

It will help us in the future to re-evaluate and measure its progress and try to get the warning signals early.
Read 4 tweets
Smart Sync Services Profile picture
13 May
Online screeners have made life easy for us.

Thanks to them, we have so much info available freely.

Numbers, though, do not tell you the whole story.

And if you base your decision only on the numbers shared on the screener, you run the risk of missing imp points.

Read on!
If you looked at the shared image, you will dismiss the business thinking debt is huge & reserve is negative.

You will probably say: “It is a business that should not be even looked at.”

A good question to ask: Why did that happen?

Ans: Ind AS 115 & Ind AS 116 Image
~Reserves is “Negative“ due to transition difference

~Borrowing = Lease Liabilities + HCRO (foreign debt @ 3.5%)

~Lease liabilities on the liability side match with the Lease assets on the asset side

~High cash flows but cannot do Div/Buyback ImageImageImageImage
Read 4 tweets

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