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Smart Sync Investment Advisory Services Profile picture
@SmartSyncServ
Jun 14, 2021 โ€ข 8 tweets โ€ข 4 min read โ€ข Read on X
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AR20-21 Notes begins๐Ÿ—’๏ธ

First on the list is

BKT

Boring Business Steady Compounder

Fasten your seatbelt

Here we go!

Hit L&R if you find value.๐Ÿ™‚๐Ÿ™
1/
Snapshot of Financial Performance

~Last 5 years Financial Highlights
~Rupees Earned/Spent (%)
2/
~Off-Highway Tires
~Large Variety Low Volume (BKT has 2700+SKUs)
~Requires pre & post-sales servicing
~Two subsegments Agricultural & Industrial
~Large Market in USA, Europe, Australasia & India
3/
Projects/Expansion

~Brown Field: INR 800 Cr Capex, 50k MTPA
~Carbon Black: INR 650 Cr Capex, 1.15 lac-2lac MTPA
~Upgradation: INR 450 Cr
~ Capex done through Internal Accruals + Debt
4/
~Capital Intensive
~Labour Intensive
~Low technological obsolescence risk
~Low demand fluctuation risk due to large replacement market
~Ultra Large Tires
5/
Risks
~Operational Risks
~Fluctuation in RM prices
~Market Risk
~Labour Relations
~Retention of Skilled Manpower
~Currency Fluctuation
6/
Financials

~Balance Sheet

~Profit & Loss Account

~Cash Flow Statement
7/
 ~Last 10 concalls notes: bit.ly/3vnfQYn
~5 Min Stock Idea: bit.ly/2TZoT4t
~Stock Infographic: bit.ly/3cHIrAX
~ FY20 AR Notes: bit.ly/3ziJEs6
~Blog Post: bit.ly/3xiMZWd
~Detailed Analysis: bit.ly/3gu2WlP

L&R๐Ÿ™‚๐Ÿ™

โ€ข โ€ข โ€ข

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More from @SmartSyncServ

Smart Sync Investment Advisory Services Profile picture
May 20
SSS #Q4FY24 Results & Conference Call Notes

Sula Vineyards

06 May 2024

Market Cap: Rs. 4286 Cr | CMP: Rs. 508 | P/E: 45

A short thread (๐Ÿงต)Image
About the Business

Incorporated in 2003, Sula Vineyards Limited is India's largest wine producer and seller as of March 31, 2022. The company also distributes wines under a bouquet of popular brands including "RASA," "Dindori", "The source," "Satori", "Madera" & "Dia" with its flagship brand "Sula" being the "category creator" of wine in India.

Business segments
i) The production of wine, the import of wines and spirits, and the distribution of wines and spirits (the "Wine Business");
ii) The sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (the "Wine Tourism Business")Image
Financial Highlights Q4FY24 and FY24

โ— Sula Vineyards Ltd reported Revenues for Q4FY24 of โ‚น117.00 Crores up from โ‚น110.00 Crore year on year, a rise of 6.36%.
โ— Total Expenses for Q4FY24 of โ‚น104.00 Crores up from โ‚น89.00 Crores year on year, a rise of 16.85%.
โ— Consolidated Net Profit of โ‚น14.00 Crores down 17.65% from โ‚น17.00 Crores in the same quarter of the previous year.
โ— The Earnings per Share is โ‚น1.62, down 17.35% from โ‚น1.96 in the same quarter of the previous year.
โ— For the full fiscal year FY24, the company sustained its growth trajectory.
โ— Own Brands Revenue for FY24 grew by 11.1% YoY to Rs. 534.2 Cr, with Elite & Premium constituting 75.2%, up by 15.5% YoY. Elite and Premium volume grew by 13.4% YoY.
โ— Wine Tourism revenue saw a substantial 21.7% YoY increase to Rs. 54.7 Cr, accompanied by a significant rise in Tastings across the country to 172,237, up by 29% YoY.
โ— The Net Revenue for FY24 reached Rs. 616.4 Cr, reflecting a 10.7% YoY increase.
โ— EBITDA for FY24 stood at Rs. 183.6 Cr, up by 14.1% YoY, leading to an improved EBITDA margin of 30.2%, up by 108 bps YoY.
โ— PAT for FY24 was Rs. 93.3 Cr, an 11.0% YoY increase, resulting in an EPS of Rs. 11.05.Image
Read 5 tweets
Smart Sync Investment Advisory Services Profile picture
Mar 10
RS Software

At 180, everyone is talking about it.

At 45, six months ago, when we recommended the stock in our Small and Microcap Advisory, there were many questions.

A thread ๐Ÿงต : Image
1/6
Today, there's a buzz around RS Software, a micro-cap company pivotal in UPI fintech disruption. Investors are getting excited looking at the management commentary and revenue forecasts at a recently held public event.
2/6
However, there is limited availability of information on RS Software and business is quite complicated to understand.

Therefore, to educate the community on this business, we're offering our comprehensive research report, previously reserved only for our micro-cap advisory customers, completely free of charge. Link is shared at the end of this thread.
Read 8 tweets
Smart Sync Investment Advisory Services Profile picture
Sep 9, 2023
The Bullet Proof Investing Seminar

Venue: ITC Grand Chola, Chennai

Some great speakers lined up

We will share the key learnings live.

Like, Repost & Bookmark for future reference.๐Ÿ™‚

Let's Go!
Image
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Why the Fed cannot stop USA spending?
Image
Image
Broader US market senses trouble Image
Read 98 tweets
Smart Sync Investment Advisory Services Profile picture
Jun 27, 2023
You will hate them.

You know that these are unhealthy food.

But the stupendous growth YoY just proves one point.

"Convenience & Experience" matter more than anything to us.

More so when it comes to our eating habits.

Devyani International [FY23 AR Notes]

Letโ€™s go!
Before we go to the notes from the FY23 AR, let us tell you that we did a deep dive on the QSR space in our 12th and 13th MissioN SMILE webinars in February and March, 2022 respectively.

If you wish to access the recording of our deep dive on the QSR space, become a MissioN SMILE member.

https://t.co/QGVjhm9xhdmissionsmile.smartsyncservices.com/learn/MissioN-โ€ฆ
Read 26 tweets
Smart Sync Investment Advisory Services Profile picture
Jun 23, 2023
From Fragility to Robustness

From Highly Volatile to Stable Margins

From the Vagaries of Small Scale to the Economies of Scale

The journey of Apcotex has been awesome.

Key takeaways [FY23 AR]

โ€œRetweetโ€ plz to help us educate and reach out to maximum investors. ๐Ÿ™

Let's go๐Ÿ‘‡ https://t.co/OZKL0UbJ6jtwitter.com/i/web/status/1โ€ฆ
Before we go to the key takeaway from the FY23 AR, let us tell you that we did a deep dive on Apcotex on our 1st MissioN SMILE webinar on 28th February 2021.

The share price was 175 at that time. What a journey it has had since then.
If you wish to access the recording of our deep dive on Apcotex, become a MissioN SMILE member.

https://t.co/JgHnhqdba3missionsmile.smartsyncservices.com/learn/MissioN-โ€ฆ
Read 22 tweets
Smart Sync Investment Advisory Services Profile picture
Jun 6, 2023
.@HindenburgRes has a new target & it is Tingo!

Imagine an Uber driver saying:

"Uber is a fraud & we don't work with them. We're not registered on Uber unlike what they claim in their ARs & advertisements."

Tingo's story has that element & much more.

Top 10 learnings! ๐Ÿ™‚๐Ÿ‘‡ Image
We're going to dissect this case & try to derive learnings which we as mango investors can incorporate.

HQ in New Jersey, Tingo has several businesses focused on providing mobile phones, food processing and an online food marketplace for farmers primarily located in Nigeria.
The new report is a revelation in terms of doing deep research on the promoter & management team.

So here goes our top 10 learnings.
Read 26 tweets

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