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Ajit Surya K

@ajitsuryak

2 Jun

@Atulsingh_asan

Insurance Industry - Indian Perspective - Thread 🧵

Growth Drivers :

Increasing Life Expectancy
Favorable Savings
Greater employment

@Atulsingh_asan @caniravkaria @Coolfundoo @saketreddy @Jitendra_stock

#HDFCLIFE

The growing interest in insurance among people, innovative products, and distribution channels are aiding growth.

High Penetration for digital platforms, with an average of 90% using digital platforms at least once a week

HDFCLIFE - 49% share of digital new business in FY20.

In FY21 (until February 2021), the premium from the new business of life insurance companies in India stood at US$ 31.9 billion.

Basic Terms:

Insurance penetration - Percentage of insurance premium to GDP

Insurance density - Ratio of insurance premium to population.

Read 19 tweets

Ajit Surya K

@ajitsuryak

27 Feb

@Atulsingh_asan

#IEX Thread⚡️

IEX - First and Largest Energy exchange in India (98% Market Share - Monopoly!!)

Automated trading platform for physical delivery of electricity, renewable power, energy certificates.

@Atulsingh_asan @caniravkaria @Coolfundoo @saketreddy @Jitendra_stock

@vetris_stocks

#IEX (2/n)

ROCE 5Yr - 63.9 %; ROE 5Yr - 45.0%

Zero Debt, Consistent FCF Generation

FII Holding - 5% in 2017 to 30% in 2020

Electricity CAGR 32% [CERC]

Revenue Breakup : 80% - Transaction Charges; 6% - Annual Subscription

Customer Base: 4000+ Industries

@vetris_stocks

@ThetaVegaCap

#IEX (3/n)

Contracts in Indian Power Market: Long Term and Short Term

Long Term via Power Purchase Agreements- 90% of Total Power Market

The target for IEX - Short Term Contracts: 10.3% of the total power market!

50.2% of Short Term Exchange via platforms

@ThetaVegaCap

Read 12 tweets

Ajit Surya K

@ajitsuryak

6 Feb

@Atulsingh_asan

#CDSL Thread 💰

India’s only listed and largest(no. of accounts) securities depository

Current BO Accounts: 2.89 Cr

BO accounts grew at a CAGR of 19% from 1.08 cr in FY 2015-16 to 2.12 cr in FY 2019-20

@Atulsingh_asan @caniravkaria @Coolfundoo @saketreddy @Jitendra_stock

@vetris_stocks

#CDSL (2/n)

ROCE 5Yr -22.7 %; ROE 5Yr -17.0 %

CDSL market share of investor accounts stands at 54% in FY20

CDSL incremental market share stands at 78% for FY20

Works similar to a bank but holds stocks and securities, not money

@vetris_stocks @ThetaVegaCap

#CDSL (3/n)

~35% of the revenue is an annuity in nature and ~45% is market-linked (Transaction, IPO/corporate action, and KYC)

Aadhaar based e-KYC for account opening, which will further boost CVL-KYC volumes.

28 lakh accounts added in last quarter alone

Read 7 tweets

Ajit Surya K

@ajitsuryak

3 Feb

@unseenvalue

#SequentScientific Thread. 🐂

ROCE 5Yr-13.6 %; ROE 5Yr-14.7 %; D/E-0.5
NO. 1 Animal health company from India
27 Commercial APIs
US$100MN+R&D investments
Promoter: Carlyle Group - 53%
Cons. Revenue UP 13% YOY

@unseenvalue @arc1471 @drprashantmish6 @MunkThePunk @caniravkaria

@Jitendra_stock

#Sequent (2/n)
₹1,272 MN Cashflow from operations in FY20

100+ Countries Presence

Revenue: 66% from the formulations and the rest from APIs

SSL’s consolidated EBITDA margins improved to 14.4% in FY20 (FY19: 12.0%, FY18: 9.8%)

@Jitendra_stock @Investor_Mohit @ThetaVegaCap

@punitbansal14

#Sequent (3/n)
Stabilization of operations at its US FDA approved Vizag API facility led to an improvement in SSL’s API sales and EBITDA in FY20

Of the total formulation sales, the regulated markets of Europe contributed 47% in FY20,

5 Global R&D centers

@punitbansal14

Read 5 tweets

Ajit Surya K

@ajitsuryak

1 Feb

@ShamikaRavi

The budget outlay for health is Rs 2,23,846 crore, an increase of 137% from last year's budget.[94,000 cr.]

PM Aatmanirbhar Swastha Bharat scheme with an outlay of Rs 64,180 crore.

@ShamikaRavi #Budget2021 #Health

-4 National Institutes of Virology to be set up. At present, there is only one at Pune.

-Critical healthcare facilities to be set up in 62 districts.

-Mission Poshan 2.0 to be launched

#AatmanirbharBharatKaBudget #Budget2021

-Pneumococcal vaccines will be rolled out across the country to avert 50,000 child deaths annually

-Rs 35,000 crore allocated for #COVID19 vaccines (will allocate more if required)

-Rs 2.87 lakh crore for urban Jal Jivan (water supply) Mission

#Budget2021

Read 4 tweets

Ajit Surya K

@ajitsuryak

25 Jul 20

@saketreddy

#UPL #Basics
-5th largest agrochem. company in the world (Mark. Cap: 34,699 Cr.)
-ROCE: 10.36 %
-ROE: 14.87 %
-D/E: 1.52
-Trading at a discounted price based on both P/S ratio (0.97) and Trailing P/E

@saketreddy @unseenvalue @caniravkaria @nid_rockz @ThetaVegaCap @DhanValue

-Profit growth 5Years: 12.18
-MF increased their holding last month
-Wider footprint and extensive product portfolio to drive growth
-Arysta merger synergies to improve margins
-Long term revenue based on the company’s robust R&D initiatives on several new products
#Macquarie

++Some inputs from the #Macquarie research regarding the UPL debt concerns.

-UPL is expected to generate healthy cumulative FCF of Rs72bn over the next 3 years.
-Leverage to decline. Healthy FCF generation to support deleveraging for UPL.

Read 4 tweets

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