Deepak Kapur Profile picture
Shiva🙏 Used 2 teach Biz Valuation.📚:bio/nutrition/biz/tech/mrkts/brain science 💙Surf🏄er. Yoga. Eat LCHF. Living with IBD. BITS Pilani. IIM I. IG: tapak7777
Oct 13, 2023 14 tweets 5 min read
Going to give an example of the kind of hilarious stuff and madness going on in SME stocks.

Take Varanium Cloud Limited for example.


rev 377 cr, PAT 96 cr half year FY 24

rev 383 cr PAT 85 cr full year FY 23

but.... While HY 24 + FY 23 PAT = 181 cr in 18 months, the cash flow from operations was only 7.7 cr😂
Jan 14, 2022 10 tweets 3 min read
Anatomy of pump

Read below thread & articles………

All identical. Many more links on net

Clearly co PR or cartel planting this misleading narrative on massive scale thru media/twitterati


#ccd How did the debt come down :

1) sale of stake held by co in Mindtree to LnT for ~ 2700 cr. This was actually done when VGS was still alive. just months b4 his unfortunate death

2) sale of real estate asset global village tech park to blackstone for approx EV 2000 - 2500 cr
Apr 11, 2021 15 tweets 3 min read

I can't tell you how important it is to calculate your PMS/ RIA / AIF annual performance on post tax basis. Use this no to compare against benchmark

Benchmarked performance shown by PMS/AIFs/RIAs (including on SmallCase) is usually post fees & costs but NOT post taxes The reason most don't talk about post tax performance is that for each client the tax implications will be different. hence it's messy. Fair enough

Therefore as a client it's for you to go back & c what the performance was post tax
Mar 13, 2021 13 tweets 3 min read
A thread on some observations from #Nazaratechnologies DRHP - largely to do with revenue analysis. The IPO notes of i-bankers aren't delving on these points. Since I noticed them, I am putting them out here.

(not an opinion or recco wrt to IPO) Reported consolidated revenues:

Sep 2020 (6m) = 200 cr (~annualised 400 cr)
Mar 2020 (12m) = 248 cr
Mar 2019 (12m) = 170 cr
Mar 2018 (12 m) = 172 cr
Nov 3, 2020 13 tweets 3 min read
Not one #lauruslabs bull speaks or deep dives the balance sheet.

So as someone with no position (past, current or expected in future) in LL I am going to highlight a red flag 🚩 - that's bothering me

A short thread.... It's is the cash & cash equivalents (C&CE) on B/S in context of narrative, that for me, is a BIG🚩. Here r figures

C&CE (cr)
Mar 17 - 4
Mar 18 - 3
Mar 19 - 3
Mar 20 - 2
Sep 20- 2

vs Sales (cr)
Mar 17 - 1900
Mar 18 - 2050
Mar 19 - 2300
Mar 20 - 2850
Sep 20 - 4200 (annualised)
Sep 17, 2020 7 tweets 3 min read
Yesterday #snowflake IPO ~ $120. Closing share price ~ $250

Closing Mcap~ $70 bn
P/E: N/A
ttm P/S on close ~ 175x

By all reads / hears: Snowflake is a great biz & not a fly by night operator

So was Red Hat that did a IPO in 1999 : a short thread👇 In Aug '99 #RedHat went public. IPO~ $14. IPO day close~ $52.

Outstanding shares end August ~ 66.6 mn. ttm revenue ~ $13 mn. Loss making

So on IPO day close:

Mcap $3.5 bn
P/E: N/A
ttm P/S ~ 270x
Sep 3, 2020 11 tweets 3 min read
#vodaidea is a delight to analyse from two perspectives: 1) #gametheory and 2) Soro's #reflexivity theory

some thoughts... Competition would like Vodaidea gone. But Vodaidea has bought itself a couple of yrs of survival from AGR verdict as they will be able to raise enough funds to last a couple of years by convincing board that 'as ARPU's rise things will get better'
Mar 22, 2020 11 tweets 4 min read
Forced selling by NBFC's who have loaned against shares (LAS) is exacerbating sell off in cash mkts. There is a case for RBI to reduce margin requirments for LAS to mitigate some of this stress with little impact to lenders @RBI @nsitharaman @FinMinIndia

I explain: Currently RBI mandates that a minimum 50% LTV be maintained at any point for LAS. So if one borrowed 50 against share worth 100, then if share falls to 80, investor should bring in additional 10 as collateral. OTH, if share goes to 120, investor can borrow an additional 10!