🚨 US President, Joe Biden Imposes New Tariffs on China to Assert Dominance in Key Industries:

💰 50% Tariff on Semiconductors
💰 100% Tariff on EVs
💰 50% Tariff on Solar Panels

✨15 Indian Companies that might Benefit from these Tariffs

🔶 Solex Energy Ltd
🔶 Insolation Energy Ltd
🔶 Urja Global Ltd
🔶 Websol Energy System Ltd
🔶 Borosil Renewables Ltd
🔶 Sona BLW Precision Forgings Ltd
🔶 Exide Industries Ltd
🔶 Amara Raja Energy & Mobility Ltd
🔶HBL Power Systems Ltd
🔶 Graphite India Ltd
🔶 Gabriel India Ltd
🔶 Kabra Extrusion Technik Ltd
🔶 Moschip Technologies Ltd
🔶 RIR Power Electronics Ltd
🔶 Spel Semiconductor Ltd

India’s Top Ten Solar Module Manufacturers.

1. Warree Energies is leading the chart with 12000 MW installed capacity.

2. Adani Solar and Renew Power - 4000 MW

3. Vikram Solar - 3500 MW

4. Goldi Solar - 3329 MW

5. First Solar - 3200 MW

6. Emmvee Group - 2933 MW

7. Premier Energies & Rayzon Solar - 2300 MW

8. Renewsys India - 1700 Mw

9. Solex - 1471 MW

10. Kosol - 1150 MW

Information only #

📊 5 low PE, High-Profit Growth Companies 📊

All have Mcap <~ 10000 Cr & Non SME

1️⃣ Ceinsys Tech Ltd (PE 21 & PAT Growth 50%)
2️⃣ WS industries (PE 27.4 & PAT Growth 50%)
3️⃣ Maharashtra Seamless (PE 10 & PAT Growth 44%)
4️⃣ Jindal Saw (PE 13.1 & PAT Growth 250 %)
5️⃣ Balu Forge Industries (PE 36 & PAT Growth 107 %)

📊 Top Dividend Stocks to Consider for 2024 and Beyond 📊

📮 Dividend investing is a popular strategy that many investors find lucrative. However, is it a good strategy to rely on in the long run? Let's try to understand that today.

📮 Instead of receiving a lump sum cash, in dividend investing you receive portions of the same cash flow with a higher opportunity cost.

1️⃣ ITC
2️⃣ TCS
3️⃣ HUL
4️⃣ Infosys
5️⃣ Bajaj Finance

📮 These stocks often offer stability and consistent income through dividend payments, which can be particularly attractive for those seeking regular returns or looking to supplement their investment portfolio with income.

📮 Additionally, these companies typically have established track records, solid financials, and may be less volatile compared to their peers.

India top solar module manufacturing company

1.TATA Power - 14 GW
2.Adani solar - 10 GW
3.servotech :- 11GW
4.Waaree engine-12 GW
5.Vikram solar -3.5 GW
6.Goldi solar:- 2.5 GW
7.satvik green energy:- 1.2 GW
8.Renew sys ;-2.75 GW
9.Loom solar :-100 MW

1000MW = 1GW

Wardwizard Innovations & Mobility currently has a network comprising 750+ dealers-super dealers spread across 50+ cities in 19 states and Union Territories. The co., jointly with its Promoters & Promoters’ Group, has acquired 4 Mn sq. ft. of land to develop India’s first-ever EV ancillary cluster near the newly inaugurated global headquarters in Vadodara. About 20 major EV parts/ components will be manufactured in the Wardwizard EV ancillary cluster. The company has started its battery assembly line with a capacity of 1 gigahertz per year, and it has signed an MoU with Singapore-based Sunkonnect for R&D and identification of potential partners as well as to develop the roadmap to set up the 1 gigahertz self-production plant at Wardwizard electric vehicle ancillary cluster in Vadodara.

🌠IndiaMART InterMESH Study


IndiaMART InterMESH (IndiaMART) is India’s largest online B2B product and services platform, set to sustain strong growth momentum as businesses are increasingly leveraging online channels for efficient procurement. A large and growing number of buyers and suppliers on the platform are driving up business enquiries, further increasing its attractiveness. The platform is unique as it enables two-way interactions—suppliers can post their listings and buyers too can post their request for quotations (RFQs). This helps IndiaMART generate high-quality leads for suppliers and gauge supplier behaviour, particularly their responsiveness. While the portal is free for buyers, it charges suppliers for premium listing of supplier storefronts and access to buyer RFQs. Over the years, it has widened listings to 95,000+ product categories spanning 7.5 million supplier storefronts and delivers 88 million unique business enquiries from 170 million registered buyers. The company has successfully acquired 100% ownership of Busy infotech in April 2022 for ₹500 cr. Busy is one of the largest accounting software companies in India. It was incorporated in 1997 and has a pan - Indian presence. It had revenues of ₹42.4 cr and a profit after tax of ₹11 cr in FY21. Apart from this, the company has also made few more acquisitions: (1) 26% stake for ₹104 cr in IB MonotaRO Private Limited, an ecommerce platform for business supplies (2) 16.5% stake for ₹91 cr in Fleetx Technologies Private Limited, a freight and fleet management software helping fleet operators and businesses digitize logistics operations through IoT based analytics services (3) 51% stake for ₹46 cr in Finlite Technologies Private Limited, which offers digital integration with mobile-based applications, analytical tools, and APIs for integration with ecommerce platforms over existing on-premise accounting software.

While most suppliers on their platform are registered for free, the company generate revenues by offering paid subscription packages to 2,03,000 suppliers i.e., less than 3% of their overall suppliers listed on the platform. Most of the subscription paying suppliers first subscribe to a Silver subscription package, and then subsequently upgraded to a higher value package and premium subscription of Gold & Platinum. All their subscription packages are offered on an annual or multi-year basis. Only the Silver package is offered on a monthly subscription. The subscription fees is collected upfront in advance, irrespective of the duration of their package. Higher tier packages provide better visibility and more RFQs to suppliers, leading to an increased number of business enquiries for them. Upgrades to premium subscription packages improve the ARPU (Average Revenue Per User) of their overall business which is ₹46,000 in FY23.

#SALES #GROWTH

In FY23, the revenue grew by ~30.8% YoY and stood at ₹985.4 cr. The growth was a combination of increase in the paying subscriber by 20% YoY to 2,03,000 and an improvement in ARPU (Annualized Revenue per Paying Subscriber) by 4.5% YoY to ₹46,000. Busy reported a strong growth in revenue by 22% YoY to ₹43 cr in FY23. It sold ~30,000 licenses during the year. In 9M FY24, the revenue grew by ~23.1% YoY to ₹882 cr. The growth was a combination of increase in the paying subscriber by 9% YoY to 2,12,000 v/s 1,94,000 and an improvement in ARPU (Annualized Revenue per Paying Subscriber) by 12.5% YoY to ₹55,100 v/s ₹49,000. Busy reported a strong growth in revenue by 33.8% YoY to ₹42.4 cr. It sold ~23,000 licenses during 9M FY24.

5 Year CAGR: 19.1%

#EBITDA #GROWTH

In FY23, EBITDA stood at ₹268 cr, a de-growth of 13% YoY. In 9M FY24, EBITDA stood at ₹243 cr, recording a growth of 20.6% YoY. The company continued making growth investments in manpower, product & technology, sales & servicing resulting into growth in revenue and paying subscription suppliers.

#NETPROFIT #GROWTH

In FY23, PAT increased by ~3.8% YoY and stood at ₹322 cr. However, adjusting for the loss in share of associates the net profit de-grew by 4.6% to ₹284 cr. During the year, the other income had a one-time gain of ₹67 cr on account of the sale of investments made in ProcMart. In 9M FY24, PAT stood at ₹265 cr. However, adjusting for the loss in share of associates the net profit grew by 3% to ₹235 cr. Other income decreased by 11% YoY, as there was one time gain on account of sale of investment in 9M FY23.

5 Year CAGR: 38.9%

#EBITDA #MARGIN

In FY23, EBITDA margin was ~27.2%, a sharp contraction on a YoY basis. The EBITDA margins in 9M FY24 stood at 27.6%, aided by increased manpower cost and other investments towards growth in business.

#NETPROFIT #MARGIN

In FY23, this metric contracted and stood at ~32.7%. The PAT margins in 9M FY24 stood at ~26.6% (v/s 31.8% in 9M FY23).

#ROCE

Since the company was reporting an EBITDA loss over FY14-18, hence ROCE was negative. However, from FY19 the company was able to turn profitable on account of strict cost control (primarily in the advertisement expenses). ROCE for FY23 has contracted as compared to previous year and stood at 19.3%. This was on account of operating efficiencies and significant increase in the average capital employed.

#MANAGEMENT

The management’s current focus is protecting the paying subscriber count and also increasing sales by bringing in more subscriber count. Better ROI for the suppliers will help the company upgrade the user slab to a higher service and hence improving ARPU and profitability. Along with this, the management shall continue to invest in product innovation to serve evolving needs and improve matchmaking and its relevancy on the platform. Their focus is on developing solutions that are uniquely aligned with the specific needs of IndiaMART users.

#SHAREHOLDING #PATTERN

The promoter group shareholding stood at 49.21%.

FIIs shareholding decreased to 23.08% in Q4 FY24 as compared to 24.16% in Q3 FY24.

Non-institutional shareholding decreased to 17.11%.

Top Public Shareholding :

Westbridge Crossover Fund LLC 2.52%

UTI Flexi Cap 2.40%

Arisaig Asia Fund Ltd 2.39%

ICICI Prudential Technology Fund 2.25%

Madhup Agarwal 1.55%

#FUTURE #OUTLOOK

Paying subscribers retention remains a key monitorable: Increased business transaction in the post covid period is a huge opportunity for the company to grow its sales and increase the number of paid subscribers. The company is even looking forward to grab this opportunity and increase its investments to elevate its sales. • Indiamart is looking forward to make more investments towards increasing growth and sales of the business. Hence the margins and ARPU is expected to be subdued in the short term. However, in the long term, the company’s margins might increase by a healthy percentage. • Going forward, further increase in employee base over the next year will be in line with the growth in the number of customers at IndiaMART as well as other businesses. monthly subscription plan, which generates lower ARPU. • Management commentary: They expect better customer acquisition than the current run rate due to a higher focus on the acquisition and efficient channel utilization. They also expect ~15%-20% paying subscriber growth in FY24, while the average revenue per paying subscriber (ARPU) would grow at a slower pace since the majority of the first time customers are into the • Threat from Udaan: UDAAN was incorporated in 2016 and with its unique business model and services, it has acquired huge response from the market. With its efficient logistic services and other facilities, the company has won trust from its customers. However, the company is currently running under losses and has not been able to reduce its operating expenses. • Strategy towards Busy: The company successfully acquired 100% stake in Busy infotech for ₹500 cr. As of now, for a year or two, we would still continue to focus on growing Busy first before looking at these cross-sell opportunities for IndiaMART coming in from Busy.

🔹 TOP 10 Stocks In Focus

1-BEL
Strong numbers, orderbook crossed 75000 Cr

2-ONGC
Good numbers, improved realization

3-ASK AUTOMOTIVE
Very strong results

4-VARROC ENGG
Good numbers, strong India business

5-POWERMECH
Good results, Solid orderbook

6-PHOENIX MILLS
Solid numbers

7-JYOTI CNC
Good numbers

8-UPDATER SERVICES
Good numbers

9-HINDALCO/VEDANTA/HIND ZINC/NMDC
International prices up

10-BHEL
Results today

📊 Top 4 Defence Exporting Stocks to Add to Your Watchlist 📊

1️⃣ Hindustan Aeronautics

Hindustan Aeronautics Ltd (HAL) is an aerospace and defence company, owned by the government of India.

2️⃣ Bharat Electronics

Established in 1954 in association with CSF France, the company is now a government aerospace and defence company.

3️⃣ Bharat Earth Movers

Bharat Earth Movers formerly known as BEML is a prominent public sector undertaking (PSU) in India that specialises in manufacturing a diverse range of heavy equipment for various sectors, including mining, construction, defence, rail, and metro transportation.

4️⃣ Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders holds a unique position as the sole company in India, specialising in building conventional submarines and destroyers for the Indian Navy.

Case Study

🫧SHEELA FOAM LIMITED 🫧

Sheela Foam Limited (SFL) was incorporated in 1971 and it is a top player in the mattress and foam products industry in India. It is the largest polyurethane (PU) foam manufacturer in India. Its flagship brand Sleepwell was launched in 1994 and this brand has established itself in major overseas markets too. Its flagship household brands Sleepwell for mattresses, Feather Foam for pure PU Foam, and Lamiflex for polyester foam laminates have achieved global recognition. The company has strong presence in West & North regions of India. It acquired Kurlon Enterprises Limited (KEL) in 2023 and now commands the de-facto leadership in the branded mattress segment with more than 30% market share. It also acquired 35% stake in Furlenco, (a platform to rent/buy branded furniture) to foray into branded furniture market.
The combined entity (SFL +KEL) now has a global