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Rajarshi Shome Profile picture
@shome_rajarshi
May 24, 2023 • 7 tweets • 3 min read • Read on X
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Bharat Wire Ropes Ltd:-

The company is one of the largest manufacturers of Steel Wire Ropes in India. The company is one of the leading manufacturers of speciality steel wires, steel wire ropes, slings and strands, with over thousands of varieties of products.

Industry… twitter.com/i/web/status/1… ImageImage
The company has turned around from posting losses of Rs 61 CR in FY20 to posting profits of Rs 62 CR in FY23.

Strong balance sheet with no ALM mismatch. Negligible debt on the books.

Improving cash conversion cycle. Image
Q4FY23 Con Call Updates:-

1. First ever Con Call with investors
2. The company has machines made in South Korea and Germany that allows Bharat Wires to compete with global manufacturers of Steel wires.
3. The company has transformed in the last few years.
4. Sales volumes up… twitter.com/i/web/status/1…
The company is confident of growing Volumes at 15-20% CAGR. However, value growth (realisations) would depend on steel price movements yet the company is improving ASP with improving product mix and selling high-value products. Image
The management wants to forget about the past and move on to better days for the company. Image
The promoter group has infused Rs 42 CR used to reduce debt on the balance sheet by the same amount. Image
WC cycle is around 3-4 months.

Receivables: 45 days
Inventory (WIP>Finished Goods): 2 months
Payables: 10 days

WC Days= 45+60-10 Image

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More from @shome_rajarshi

Rajarshi Shome Profile picture
Feb 5, 2023
Inflame Appliances:-

1. The company is incorporated in 2017 and is in the business of manufacturing various kitchen appliances such as Kitchen Hoods, Gas Hobs and LPG Stoves.

2. The company is among the top 3 manufacturers of electric Kitchen Hoods (chimneys) in India Image
3. The market for Kitchen Hoods is almost 2 mil a year and growing at 15% CAGR.

4. The penetration for electric chimneys is less and the growth potential is immense.

5. The company manufactures hoods for Indian marketer companies in their own brand.
6. Some of the clients of the business:

Hindware, Sunflame Appliances, Flipkart, Stove Kraft Ltd, Green Line Appliances etc.

7. The major competition is Chinese suppliers for the company.

8. CAPEX: The company has decided to start its second plant at Hyd.
Read 19 tweets
Rajarshi Shome Profile picture
Jan 14, 2023
Stock allocation matter more than stock name.

A short thread!

Questions:-
1. What is the percentage of your net worth in stocks?

Most people have 90% of their net worth in debt instruments so the amount of time you give to analyse stocks become meaningless.

Contd..
2. What is the percentage allocation of individual stocks in the equity portfolio?

Any allocation less than 5% would mean that the stock movement in either direction would not make any difference to the portfolio. So why have such allocations?

Contd…
3. If you are here to change your life in the market, you must have a big chunk of your networth in stocks and hold a concentrated portfolio. It gives you a chance to outperform. Everybody knows the names. It is how much money you deploy that matters in the end.

Contd..
Read 7 tweets
Rajarshi Shome Profile picture
Jan 13, 2023
We track businesses by writing threads. The threads containing the Investor Presentations and Con Call highlights. It helps us to validate management guidance.

Sharing the thread on the banking space. It will be be great refresher before the Q3 earnings season.
1. HDFC Bank:

2. AU Small Finance Bank:


3. Axis Bank:


4. Bandhan Bank:


5. CSB Bank:


6. CUB Bank:
7. DCB Bank:


8. Equitas SFB:


9. Federal Bank:


10. ICICI Bank:


11. IndusInd Bank:


12. Karnataka Bank:
Read 5 tweets
Rajarshi Shome Profile picture
Oct 28, 2022
South India Bank Q2FY23 Earnings Update:-

1. PAT up 100% QOQ to Rs 223 CR. The bank posted losses of Rs 187 CR in Q2FY22.

2. Highest NII at Rs 726 CR vs Rs 527 CR YOY

3. Advances up 17% YOY to Rs 58309 CR (New book of Rs 33768 CR has NIM 3.6%, GNPA 0.03% and SMA2 0.3%) Image
4. CAR at 16.04% as at Sep 2022 vs 13.94% YOY

5. Asset Quality is improving for the bank:
NNPA 2.41%

6. Disbursals have gone up 200% YOY to Rs 26089 CR in HIFY23

7. The bank is getting aggressive on unsecured retail (on a small base) Image
Other Financial Parameters:-

All parameters are improving.

ROA at 0.65% vs -0.36% YOY
ROE at 10.81% vs -6.26% YOY
GNPA at 5.6% vs 6.65% YOY
NNPA below pre-Covid levels

The bank is improving on all parameters. Image
Read 30 tweets
Rajarshi Shome Profile picture
Sep 18, 2022
Sanghvi Movers Q1FY23 Update:-

1. Revenue down 23% QOQ and up 42% YOY to Rs 100 CR

2. PAT down 22% QOQ to Rs 14.5 CR

3. The company suffered a loss of Rs 2.5 CR in Q1FY22
Business Model:

Sanghvi Movers is the largest crane rental company in India.

CAPEX (FY23): Rs 130 CR Image
A proxy-play on the CAPEX Cycle in India across Industries! Image
Read 4 tweets
Rajarshi Shome Profile picture
Sep 17, 2022
Gokaldas Exports:-

1. Revenue up 5% QOQ and up 154% YOY to Rs 612 CR

2. PAT down 35% QOQ to Rs 39 CR.

3. The company suffered a loss of Rs 2.5 CR in Q1FY22
Business Model: Image
Growth Triggers:- Image
Read 4 tweets

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