CHEVIOT 1385❤️

GET&D 150.5❤️❤️

NEW 52 WEEK HIGH

Short Term Fundamental Aggressive Call

Buy Rsystem at CMP of 146 - 147 and dips till 139
Sl 135
Targets:- 151 - 153 - 155 - 157 - 160 - 163+
Above that we can see 170 - 180 - 190+

Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.

CENLUB 82.2❤️❤️

NEW 52 WEEK HIGH

PG FOILS 146❤️❤️

HITTECH CORP 263.65❤️❤️

Short Term Bumper Call

Buy Sutlej Textile at CMP of 58 - 59 and dips till 54
Sl 52
Targets:- 61 - 62 - 63 - 64 - 65 - 66 - 67+
Above that we can see 70 - 74+

Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.

VISAKHAPATNAM STEEL PLANT UNIONS OPPOSE ANDHRA PRADESH GOVERNMENT'S DECISION TO SELL ITS STAKE IN GANGAVARAM PORT - FRONTLINE

Shyam Metalics IPO Preview:

APPLY FOR BIG LISTING GAINS AND FOR LONG TERM
Stock to DOUBLE in Long Term

Positives:
-Highly experienced promoters
-Impressive track record of growth
-Low Debt Equity ratio at 0.11
-High ROE 26.2%

- New capex to double capacity by FY25
- Attractive Valuations

Negatives:
- Promoters hold 88.35% post IPO
- Further reduction of stake in future

Dodla Dairy IPO Preview:

APPLY FOR REASONABLE LISTING GAINS AND LONG TERM

Positives:
Experienced Promoters and Strong Growth Outlook
Attractive Valuations
IFC increasing stake in IPO

Negatives:
Limited presence in Southern India

Sona BLW Precision IPO Preview:

APPLY FOR LONG TERM FOR 1-3 YEARS PERIOD OR BUY POST LISTING

Positives:
-Experienced Promoters and proven track record
-Big growth potential in electric vehicle segment

-Low Debt Equity Ratio 0.16 and high ROE 17.3%

Negatives:
Expensive Valuations at 72 PE Ratio

KIMS IPO Preview:

ONLY HIGH RISK TAKING INVESTORS SHOULD APPLY FOR LONG TERM

Positives:
Experienced Management
Consistent growth in Revenue

Negatives:
Limited presence in AP and Telangana

*Asahi India Glass Ltd.* | *CMP* Rs. 347 | *M Cap* Rs. 8435 Cr | *52 W H/L* 359/158
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 814.9 Cr (8.3% QoQ, 35.8% YoY) vs QoQ Rs. 752.5 Cr, YoY Rs. 599.8 Cr
EBIDTA came at Rs. 181.6 Cr (3.8% QoQ, 103.4% YoY) vs QoQ Rs. 175 Cr, YoY Rs. 89.3 Cr
EBITDA Margin came at 22.3% vs QoQ 23.3%, YoY 14.9%
Adj. PAT came at Rs. 84.6 Cr vs QoQ Rs. 73.9 Cr, YoY Rs. 52.5 Cr
Quarter EPS is Rs. 3.5
Share is trading at P/E of 63.4x TTM EPS

AUROBINDO PHARMA: BOARD MEETING IN NEXT 1-2 WEEKS TO CONSIDER DEMERGER OF ITS INJECTIBLE BUSINESS - TV

AUROBINDO PHARMA: CO IS CONSIDERING DEMERGE ITS INJECTABLE BUSINESS II CO HAS 20% SALES IN PORTFOLIO - TV

LTI: CO HAS SIGNED A DEFINITIVE AGREEMENT TO ACQUIRE CUELOGIC TECHNOLOGIES PRIVATE LIMITED, A PUNE BASED DIGITAL ENGINEERING COMPANY WITH A 100% SUBSIDIARY IN US, CUELOGIC TECHNOLOGIES, INC.

LTI: COST OF ACQUISITION IS USD 8.4M

*Entertainment Network (India) Ltd.* | *CMP* Rs. 204 | *M Cap* Rs. 972 Cr | *52 W H/L* 204/115
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 100.4 Cr (17.2% QoQ, -33.9% YoY) vs expectation of Rs. 102.1 Cr, QoQ Rs. 85.6 Cr, YoY Rs. 151.8 Cr
EBIDTA came at Rs. 24 Cr (15.1% QoQ, 4.5% YoY) vs expectation of Rs. 32.2 Cr, QoQ Rs. 20.9 Cr, YoY Rs. 23 Cr
EBITDA Margin came at 23.9% vs expectation of 31.5%, QoQ 24.4%, YoY 15.1%
Adj. PAT came at Rs. 31.3 Cr vs expectation of Rs. 5.2 Cr, QoQ Rs. -10.9 Cr, YoY Rs. -3.2 Cr
Tax credit led to higher PAT
Quarter EPS is Rs. 6.6
Share is trading at P/E of 48x FY22E EPS

An international arbitrator has ordered a subsidiary of *Dr. Reddy’s Laboratories* to pay nearly $46.3 million (about Rs 340 crore) to Hatchtech Pty. for a skin treatment lotion. The company said it has accounted for the payout in its financial statement for 2020-21. *Marginal Negative*

*Tips Industries Q4FY21 Concall Update*
(Nirmal Bang Securities)

*Demerger of films and music businesses to lead to value unlocking in the music business*

*Outlook: Positive*

• Demerger will enable focused approach for the two separate businesses. It will also unlock value in the music business which has phenomenal ROCE and is slated to grow at 20-25%.
• Music revenue declined from 98cr in FY20 to 91cr in FY21. This was mainly due to a poor Q1 where the whole media industry was in a standstill.
• 68-70% of revenue comes from digital/OTT & 28-30% from TV.
• Digital/OTT has been growing by 30% in recent years while TV media has been growing at around 20%.
• Majority (75-80%) of OTTs pay the co on revenue share basis. Only 20-25% of OTTs do one time deals with co (eg: Gaana).
• Gaana did not renew its contract with Tips in May 2020 as it was not giving any increase in pricing to which Tips did not agree. As Tips has bulk of the 1990s music, Gaana suffered in the market. Now both cos are in talks for a new deal.
• Other expenses in FY21 are lower YoY as co did not buy music rights aggressively and also because of COVID, co did not record many new songs. Also, there was inventory write off (non-cash expenses) last year.
• Content cost for FY20 was 12cr and for FY21 was at 10cr. Co does not capitalize any of the content acquisition cost.
• Co will be increasing its annual music acquisition budget from 10-12cr currently to 17-18cr in future.
• Currently co is ranked 5th in revenue in India and is aiming to move up to 3rd spot in future. No. 3 co would be having revenue of 170-200cr.
• Bulk of the co’s 29k songs are from 1990s. Around 12k songs are in Hindi and the remaining are in regional languages.
• The typical deal tenure with clients is between 1-2 years.
• Other current liabilities (37cr) includes advance from customers from music business for the next 2-3 years.
• If subscription revenue picks up (currently India has only ad-revenue) after 3-5 years, industry itself can multiply by 3x from ~1700-2000cr today.

Stock is trading at 30x FY21 EPS of Rs. 32.7

*JB Chemicals – Q4FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive*

The stock is trading at 27.5x FY22E consensus earnings

• The strong revenue growth has been achieved with the core branch and non-COVID portfolio. Thus, the growth achieved during this year reflects the resiliency and the sustainability of the business
• Expect India business to maintain outperformance
• Putting in place a growth strategy for key markets, aided by new product introductions
• The company remain committed to going deeper into some of the existing market and geographies
• In FY21 – seen good momentum in South Africa and US business
• *Expect topline trajectory to continue in FY22 as well with steady EBITDA margins*
• Extending losenges franchisee from conventional cough and cold to immunity building
• Looking to increase the filings runrate from current 1-2 per year to 3-4 in next 12-18 months. And some of these ANDAs would be supported at backend by company’s own API
• Russia – looking to launch couple of products; South Africa – it is a mix of public and private business and the company is good visibility on public business; APAC – focus is to improve the business through CMO
• Capex FY22 – maintenance capex of Rs 50 cr
• Actively and aggressively looking at inorganic opportunities for India business

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