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MOIL 291
CHOLAHLDNG 1598
GODREJAGRO 725

all we can do is to take entry and wait for the time to pan out on our side

Shivam:
https://docs.google.com/forms/d/e/1FAIpQLSdwy7rnEZX0QYBsc__0Zx9aTgpJYSxM5KgjPb9OzBNffKx-4g/viewform

AI-driven trading platforms and finfluencers are impacting retail investor behavior in Indian stock markets.
What's your opinion 🤔


Do fill and submit this IIT research form for a good friend

Every stock moved up to emas
We might see it as bullish in daily charts


But need to closely watchout as this cud be bearish retracement too in weekly chart

IF the stock crosses above these EMAs then we will still intact. IF u seee any weakness or stock came to ur buying price, take wise decissions

Sold Goldbees and keeping gold bond


Hav abt 25% profit only in bees


Will buy at retracement

ATH strategy was started exactly when market peaked and was ready to retrace on Monthly levels
ex. SRF Southbank

lesson learnt, even the ATH stocks will retrace and no need to run after unless they are governed by huge huge volumes

few stocks are available at v good levels


How many are buying nowadays ?

https://www.instagram.com/reel/DKmpV1ioiEP/?igsh=ZmZiaHd5amVsMnpu



for all youngsters. donot reinvent the wheel and pls donot think AI cud outsmart your investment journey.


If that was so easy, the founders of AI wud have already made billions and not earning from our premium subscription

Virtuoso Optoelectronics Limited (VOEPL) is a company incorporated in 2015 in Nashik, India, promoted by the Bharti family [Previous conversation]. Its shares are listed on the BSE - SME Platform (Scrip Code: 543597) [Previous conversation, 9, 54, 257]. The company's registered and head office is at 7 MIDC Area, Satpur, Trimbak Road, Nashik - 422007 [Previous conversation, 10, 54, 257].

Company Overview and Business
VOEPL primarily operates as an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM), specializing in white goods and electronic items [Previous conversation]. Their vision is to delight consumers and clients through innovation and manufacturing of consumer products, emphasizing that customer success is their own success [Previous conversation]. Core values include professionalism, good corporate governance, a customer-first approach, and quality focus [Previous conversation]. The company is committed to quality measures, process improvements, and ensuring quantity fulfillment to enhance customer brand value and market proposition. They also aim to nurture a vibrant community including shareholders, customers, employees, vendors, and service providers [Previous conversation].

Products and Services
VOEPL manufactures, sells, and markets a range of consumer electronics:
* White Goods: This includes Air Conditioners (Indoor and Outdoor Units), water heaters, and freezers [Previous conversation]. They have recently introduced a new line of water dispensers with an annual production capacity of 150,000 units [Previous conversation]. The company is also working on designing and engineering a new range of chest freezers and exploring refrigerators for the high-end market on a trial basis [Previous conversation]. A semi-automatic washing machine line is planned to be operational by Q3 or early Q4 of the current financial year (FY26) [Previous conversation].
* Electronics Manufacturing Services (EMS): This segment covers LED lighting and components such as controller boards for EV chargers [Previous conversation]. The company intends to strengthen its EMS offerings with new SMT lines [Previous conversation].
* Components: VOEPL is expanding its component business to include controller boards, brass components, and Expanded Polystyrene (EPS) components as part of backward integration. They boast a strong backward integration with 7 facilities [Previous conversation].

---

Highlights and Expectations (Chronological Report)

A. Financial Year 2023-24 Annual Report (Published August 20, 2024)

* Overall Performance (FY24):
* FY24 was a milestone year for VOEPL, marked by overall healthy performance despite market challenges, achieving record revenue and profits [1, 2].
* Revenue from operations reached ₹5,310.84 lakhs [3, 4], with total income at ₹5,323.04 million [1, 2, 5-8]. This represents a strong year-on-year growth of nearly 69% (57.45% in revenue from operations) compared to FY23 [3, 4, 9-12].
* Profit After Tax (PAT) reached ₹101.27 million (₹1,012.73 lakhs) [1, 2, 5-8], an increase of 30.39% from the previous financial year [3, 4, 13, 14].
* Profit before tax increased by 26.67% to ₹1,430.19 lakhs compared to FY23 [13, 14].
* Key Financial Ratios (FY24):
* EBITDA: ₹526.2 million [15, 16].
* PAT Margin: 1.90% [15, 16].
* ROE: 6.68% [15, 16].
* ROCE: 16.03% [15, 16].
* Debt-Equity Ratio: 0.64, successfully lowered by 31.57% [15-18].
* EBITDA Margin: 9.89% [15, 16].
* Current Ratio: 1.7 times, up 37.63% [13, 14].
* Operational Milestones (FY24):
* The company successfully commenced its export business with its first export order [1, 2].

* VOEPL received a ₹50.5 Crore sanction under the PLI scheme for backward integration of white goods (Air Conditioners), being one of 26 companies, aiming to maximize value addition [19, 20].
* Capital & Investments (FY24):
* Capital was raised through a preferential issue to fund operations and expansion, primarily for adding fixed assets and meeting increased working capital requirements [9, 10].
* Future Outlook (from FY24 Annual Report):
* The company expressed hopes to continue its growth trajectory in FY25 and FY26, driven by further expansion in manufacturing capacities and strong product demand [9, 10].
* A new manufacturing unit for commercial refrigeration was expected to be operational in H2 of FY25, which would significantly increase product offerings [9, 10].
* Plans to enhance the 1 MW solar plant capacity to 3.5 MW in the near future and install rooftop solar plants for two more units in Nashik by March 2025 [5, 7].

B. H1 FY25 Post Earnings Conference Call (November 21, 2024)

* H1 FY25 Performance:
* VOEPL clocked a top-line of ₹310 crores in the first six months of FY25, slightly exceeding their original plan of ₹280-₹300 crores [21].
* Product & Capacity Development (Update from FY24 Report):
* The freezer plant was operational, awaiting certification (expected by December 2024) to begin commercial billing [22]. (Progressing as expected)
* Ramping up Outdoor Unit (ODU) capacity was underway, aiming for 5-6 lakh units by the end of FY25 [22].
* The company confirmed its venture into compressor manufacturing, with investments already started and production expected by Q1 FY26 [22]. This 2.5 million unit capacity aims to cover captive consumption and supply other customers [22]. (Confirmed)
* AC (IDU & ODU) contributed roughly 70-75% to total revenues in H1 FY25 [23]. The company's full AC capacity was booked by Voltas at the time [24].
* They were looking at expanding into other commercial refrigeration segments, including Visi coolers [25].
* Margins:
* EBITDA margins had decreased from 12% in 2020 to around 9% currently (November 2024), despite a 10-fold increase in sales, indicating that operating leverage had not fully kicked in [26].
* BLDC fan remotes were described as a low-cost product, contributing a small amount to the top-line (e.g., ₹25 crore for 50 lakh units) [27].
* PLI Scheme Benefits:
* The company reported having received ₹3 crore for the first year of PLI, expecting ₹6 crore for the second year (FY25), and projected ₹7.5 crore for the third year, followed by two years of ₹10 crore each [28].
* An application for enhancing the PLI sanction from ₹50 crores to ₹100 crores was in process [29].
* Revenue Projections & Product Mix:
* FY25 revenue projection was around ₹700-₹750 crores [30].
* FY26 revenue projection was ₹1,000-₹1,200 crores [30, 31].
* The targeted revenue breakup for FY26 aimed for ACs to contribute about 50%, commercial refrigeration and water dispensers about 25%, lighting about 15%, and components (including compressors) about 10%. The component share was projected to increase to 20-25% by 2027 due to compressors [31].
* The deep freezer/commercial refrigeration market was growing aggressively at a 24-25% CAGR, with about 1.7-1.8 million units sold annually in India [25]. Capacity for freezers was aimed at 400,000 pieces by FY26, with a 60-70% utilization goal, potentially yielding ₹300-500 crores from freezers in the next couple of years [25].
* Export Strategy:
* While small government incentives exist for exports, there was no specific advantage currently. Developing products for new markets is a long process, but the company had started exports last year and increased product variety was opening more avenues [32].

* Remote Manufacturing:
* Remotes were viewed as a strong backward integration due to increasing import challenges (government duty, QCOs). Manufacturing was primarily for captive use and existing customers, with an expected revenue of ₹15-₹20 crores from remotes in the next year [33].
* Share Listing:
* There was a delay in listing of preferential shares allotted in March. An application for a waiver under regulation 300 (for early migration to the Main Board) was filed on October 24, with the hope that a positive response would lead to earlier listing. Otherwise, organic migration was due by September 15, 2025 [34, 35].

C. H2 & FY25 Post Earnings Conference Call (June 04, 2025)

* FY25 Performance:
* The company reported strong year-on-year sales growth of 32.5% for FY25, which was in line with their anticipation [36].
* Profit Before Tax (PBT) growth for FY25 was higher than anticipated by 10-15 basis points [36].
* The overall CAGR for the company was 43% over the last five years, with EBITDA growing 37% and PAT growing 48% (after provisions), and PBT growing 58% CAGR over the last 5 years [37].
* Product & Capacity Development (Update from November 2024):
* Compressor Business: Investments have begun, and commercial production is expected by Q1 FY26 with a target capacity of 2.5 million units, aiming to capture 15-20% of the market [37, 38]. (Consistent with previous expectation)
* Freezers: Commercial production started in Q4 FY25, and the company is now supplying to multinational customers, fulfilling two out of three anchor customer plans [38, 39]. Freezers are expected to contribute 10-15% of overall revenue in FY26 [39]. (Achieved as planned)
* Semi-automatic washing machine line: Still planned to be operational by Q3 or early Q4 of the current financial year (FY26) [Previous conversation]. (Ongoing, potential slight delay depending on previous exact quarter expectation)
* Room Air Conditioner (RAC) Capacity: Capacity for IDUs is being ramped up to 800,000 units and ODUs to 400,000 units in Nashik, with a further plan to increase ODU capacity to 600,000 and eventually 800,000 by the end of next year (FY26) to match IDU production [Previous conversation]. (Increased ambition compared to previous 5-6 lakh ODU target)
* New Manufacturing Footprint: Operations started at their Chennai plant (Virtuoso Polymers) for EPS manufacturing. A small unit for refrigerator components in Sanand is planned to be operational by Q3 FY26 [Previous conversation].
* Revenue Projections & Product Mix (Update):
* FY25 revenue projection remains around ₹700-₹750 crores [Previous conversation]. (Confirmed)
* FY26 revenue target of ₹1,000-₹1,200 crores remains unchanged [Previous conversation]. (Confirmed)
* The projected revenue breakup for FY26 is: ACs ~50%, commercial refrigeration and water dispensers ~25%, lighting ~15%, and components (including compressors) ~10%, potentially increasing to 20-25% by 2027 [Previous conversation]. (Consistent with previous targets)
* Margins:
* EBITDA margins for FY25 are expected to be around 8.5% to 9% [40].
* Compressor EBITDA margins are estimated between 7-8% [41].
* The PAT margin for FY26/FY27 is guided between 2.5% and 3% [42].
* Gross margins for FY25 are expected to be similar to FY24 (around 13.2-13.6%), depending on product mix [43].
* PLI Scheme Benefits:
* The company accrued ₹6 crores of PLI benefit in FY24 and expects to accrue ₹15-₹20 crores in FY25 [44]. (Consistent with previous expectations)
* Share Listing:
* The company is awaiting approval from BSE for the listing of preferential shares allotted in March, with positive feedback and an expectation that the process will be completed by the following week [45, 46]. (Addressing the previously highlighted delay)

* Sustainability Initiatives:
* Plans to increase 1 MW solar plant capacity to 3.5 MW and install rooftop solar plants at two more Nashik units by March 2025 [Previous conversation, 68, 271].
* Continued focus on energy conservation and CSR expenditures on apprenticeship training [Previous conversation, 182, 385, 451].
* Operational Utilization (FY25):
* AC business: 40-50% utilization with increased capacity [47].
* Freezer business: 60-70% utilization expected [48].
* Lighting business: Consistently 70-80% utilization [48].
* Tax Rate:
* The tax rate for FY25 is expected to be 30-32% [45].
* Capital Expenditure:
* Approximately ₹150 crores was invested in CapEx in FY24, with around ₹100 crores projected for FY25 [43]. Future CapEx figures for FY27 are yet to be finalized [43].
* Demand Trends:
* April and May of the current financial year (FY26) were good, but June (FY26) showed softness due to rains. The company remains hopeful for strong Q2 and Q3 performance to ensure a good overall year [49].
* Voltas' Share:
* Voltas' share of total revenue was approximately 65-70% in FY25 [50]. While the company aims to grow its business with Voltas, the overall share of AC in the total top-line is expected to decrease as new product verticals contribute more [51].

JAGSNPHARM


Jagsonpal Pharmaceuticals Ltd. (JPL), incorporated in 1978, manufactures and trades pharmaceutical products and active pharmaceutical ingredients [1-4]. The company is renowned for its commitment to trust, credibility, and affordability in the Indian pharmaceutical sector [5, 6].

Business Overview and Products:
JPL primarily focuses on providing essential medicines for women-specific healthcare needs, through Gynaecology and Orthopaedics as its core segments [1-3, 7]. It also has a presence in major therapeutic sub-segments, including antibiotics, allergy management, immunity and cell protection, OTC products, dermatology, and pediatrics [1, 2].

The company boasts a strong brand portfolio, with 17 brands among the Top 5 in their molecule category as of FY24 [1, 2]. It has since grown to 20 brands among the Top 5 in their molecule segment [7]. In FY24, JPL generated approximately 47% of its revenues from its top 5 brands and 67% from its top 7 brands [1, 2]. Overall, its top 10 brands contribute an impressive 60% of revenue [8]. The company maintains a pan-India presence with a robust sales team of 900+ individuals [1, 2]. As of March 31, 2024, the total workforce stood at 1,025 employees, with a sales force of over 975 individuals reaching over 150,000 prescribers [6, 7, 9].

JPL's core strengths, referred to as "the Jagsonpal edge," include:
* Equity with doctors: Decades of trust, collaboration, and a proven track record have established strong brand equity with healthcare professionals [8, 10].
* Robust portfolio: A well-curated portfolio of sub-chronic therapeutic areas, which are less susceptible to genericisation [10].
* Strong brands: A significant portion of revenue is derived from top-performing brands [8, 10].

In FY24, JPL strategically introduced several products, many of which were "first-time-in-India" offerings or brand extensions to strengthen core brands:
* Nutraceuticals: Lycored Plus (improved Lycopene therapy), FeProtein (comprehensive pregnancy solution), Lycored M (unique combination for male infertility) [11].
* Gynaecology: Queezy ER (once-a-day tablet for morning sickness), MemUp (hormonal therapy for post-menopausal hot flashes/hormonal balance), Divatrone SR (sustained release Dydrogesterone for better patient compliance) [12-14].
* Orthopaedics: ParvoCox (novel drug for osteoarthritis), Indocap Gel (first Indomethacin gel for faster pain relief) [13].
* Gut Health: Equirex M (preferred choice in Irritable Bowel Syndrome) [13].

Chronological Developments and Performance Evaluation:

* 1978: Company Incorporation
* Jagsonpal Pharmaceuticals Ltd. was incorporated in 1978 [1-4].

* June/July 2022: New Strategic Direction
* Infinity Holdings acquired a significant 43.3% stake, becoming a promoter group of the company [15, 16].
* Manish Gupta joined as Managing Director in July 2022, marking a shift towards a nimbler, aggressive, and more disciplined execution business [16, 17].
* New Independent Directors were appointed to the Board [18, 19].
* The company launched Divatrone, which was recognized as the 1st runner-up in the "New Introduction upto ₹500 Crores" category by the AWACS Marketing Excellence Award 2022 [15].

* 2023: Divisionalization and New Products
* JPL transitioned to three operating divisions: BonEva, FemBon, and Naari [8, 15]. This divisionalization aimed to better understand doctor/patient needs and facilitate the launch of tailored products [8].
* The company introduced new products aimed at offering innovative solutions to Indian consumers [20].
* Mr. Abhishek Joshi was appointed as the Company Secretary and Compliance Officer [19].

* FY 2023-24 (Financial Year Ended March 31, 2024): Challenges and Strategic Initiatives
* Challenges: The company faced significant headwinds, including intense competition in the Dydrogesterone market (Divatrone) and the availability of counterfeit Indocap SR products [8, 21-24]. These issues impacted performance for the year [24].
* Financial Performance:
* Revenue from operations stood at ₹2,087 million, a 12% decline from ₹2,370 million in FY23 [25-27].
* Operating EBITDA was ₹364 million (down from ₹434 million in FY23), with an EBITDA margin of 17.4% [25, 26].
* Profit After Tax (PAT) was ₹225 million (compared to ₹267 million in FY23), with a PAT margin of 10.8% [25, 28].
* Cash Position: The company achieved an impressive addition of ₹350 million in free cash, bringing its total cash and investments to ₹1,530 million as of March 31, 2024 [25].
* Debt-Free Status: JPL maintained its zero-debt status, a testament to its financial prudence [29]. This demonstrates the company is keeping its word regarding financial discipline.
* Operational Highlights:
* The company initiated several strategic measures to strengthen its business model, including critical inventory correction for Divatrone and enhanced security features for key brands to combat counterfeiting [8].
* It laid the foundation for future growth by preparing a pipeline of new products across divisions [23].
* Debtor days improved significantly from 23.1 days in March 2023 to 17.9 days in March 2024 [30-33]. This indicates the company is keeping its word on improving debtor days.
* The Faridabad manufacturing premises were classified as "non-current assets held for sale" [34, 35].
* R&D expenditure remained at ₹0 for both FY24 and FY23 [36]. This aligns with the management's later commentary that significant R&D spending for novel drugs is not a focus in India's branded generic market.
* A dividend of ₹5 per equity share (100%) was recommended for FY24 [37, 38]. This shows the company is maintaining its healthy dividend payout policy.
* An audit trail feature in the accounting software was not enabled at the database level for April 1, 2023, to December 31, 2023, but was enabled from January 1, 2024, onwards [39, 40].

* May 2024: Major Acquisition
* JPL successfully acquired the India and Bhutan businesses of Yash Pharma Laboratories Private Limited for ₹925 million, funded by internal accruals [20, 21, 23, 29, 41].
* Impact of Acquisition: This strategic move provided access to the Dermatology and Paediatric segments, which collectively represent a market valued at approximately ₹200 billion (Source: IQVIA) [41-43]. It also added 4 renowned brands to JPL's portfolio, ranked among the top 10 in their respective molecule categories [41]. The acquisition expanded JPL's prescriber reach to over 150,000+ individuals and bolstered its field team by around 225 new members, increasing the total strength to over 900 [7, 44, 45]. The company aims for the consolidated business's operating margins to exceed 20% within 18 months post-acquisition [44]. This demonstrates the company's commitment to inorganic growth strategies to broaden its market presence.

* FY 2025 (Financial Year Ended March 31, 2025): Strong Recovery and Operational Milestones
* Financial Performance:
* Reported revenue growth of 29% [46].
* Operating EBITDA increased by 59% [46].
* PAT closed at ₹554 million (from ₹225 million in FY24), with margins reaching 20.6% (from 10.8% in FY24) [47]. This reflects a strong recovery and significant margin expansion, keeping their word on improving profitability.

* Cash balance stood at ₹145 crores [48].
* Organic Growth: Organic growth for FY25 was 8%. While this was lower than initial expectations, it showed a significant improvement from 1% in H1 FY25 to 15% in H2 FY25 [49-51]. This growth was largely driven by price increases and new product introductions, with volumes remaining relatively flat due to the Dydrogesterone challenge [52].
* Brand Milestones: Indocap became JPL's first ₹50 crore brand in December 2024 [53]. The company also launched Indocap P, a new fixed-dose combination [53].
* Acquisition Termination: JPL terminated an agreement to acquire Resilient's business in India due to the seller's inability to fulfill certain critical conditions precedent. The management stated this had no material impact on the company [46, 54]. This shows a disciplined approach to inorganic growth, prioritizing strategic fit and viable terms over simply deploying cash.
* MR Productivity: Current medical representative (MR) productivity is around ₹2-₹2.1 lakhs per capita per month (PCPM). The company aims to increase this to between ₹3-₹3.5 lakhs PCPM over the next 3 to 4 years [55, 56]. The focus remains on enhancing productivity rather than just increasing headcount, which aligns with previous statements.
* Working Capital Management: Net working capital improved significantly to almost 3.5% of sales due to tighter controls on receivables (now not more than 15 days of sales) and better inventory management [57, 58]. This is a key achievement, demonstrating the company is keeping its word on efficient working capital management.
* Leadership Change: Sachin Jain was appointed CFO in February 2025 [59].

* Q1 FY 2026 (Quarter Ended June 30, 2025): Continued Strong Performance and Leadership Transition
* Revenue rose by 23% year-on-year to ₹75.5 crores (₹756 million) [60].
* Operating EBITDA (before ESOP) grew 24% to ₹157 million, with margins at 20.8% [61].
* PAT doubled to over ₹108 million, with net margins at 14.3% [61].
* Cash Balance: Ended the quarter with a closing balance of almost ₹161 crores (₹1,609 million), an increase of ₹153 million over the previous quarter [62].
* Market Position: Achieved a one-notch improvement in Gynae CVM ranking, now No. 7 as per CMARC [61]. The company is ranked among the top 5 in 14 of its top 15 brands and is No. 1 in 5 of these brands [62].
* Organic Growth: Organic growth for Q1 FY26 was 9%-10%, with the overall 23% growth benefiting from the annualization of the Yash Pharma business [63]. Approximately half of the organic growth came from price increases, with the rest split equally between new product introductions and volume growth [64, 65].
* Leadership Change: The employment of Sachin Jain (CFO), who joined in February 2025, was terminated on July 8, 2025, within his probation period due to misbehavior, misconduct, and misrepresentation [66]. Pratham Rawal is now the Company Secretary & Compliance Officer [67].
* Outlook: The company continues to project a 15%+ revenue growth for FY26 and 12%-14% organic revenue growth beyond FY26, with a potential 100-150 basis points margin improvement year-on-year (pre-ESOP) [63, 68-70]. This shows consistent future guidance despite challenges, indicating confidence in their strategies.

Overall, Jagsonpal Pharmaceuticals Ltd. has shown a strategic transformation over the past three years, focusing on operational efficiency, financial discipline, and targeted inorganic growth. While facing challenges such as intense competition and counterfeit products, the company has demonstrated resilience and achieved significant improvements in profitability and cash generation. It continues to emphasize strengthening its brand portfolio, enhancing MR productivity, and exploring synergistic acquisition opportunities, while maintaining a clear commitment to shareholder value and ethical conduct.

HAL
BEL
MAZDOCK

loading up more in RELTD also

hav already positioned at 129

We can add PARAS also

If defence theme runs, then this will also propel along in the race