Thermax Gearing Up For Mega Capex To Boost Green Hydrogen Production
Thermax Ltd. is prepared for large-scale capex to set up a solid oxide electrolysers manufacturing unit in India, the company’s Chief Executive Officer Ashish Bhandari said.
Recently, the Indian multinational engineering conglomerate announced a partnership with UK-based Ceres Power Ltd. for green hydrogen production with large-scale solid oxide electrolysis cell manufacturing in India.
The two companies have entered into an agreement for Thermax to manufacture, sell and service stack array modules based on Ceres' advanced solid oxide electrolysis cell technology.
Thermax also plans to establish a manufacturing facility for the electrolysers, develop the supply chain, and localise critical components over the next two years.
“The investment (towards indigenisation of the project) will change depending on the success that we get at each stage but we are prepared for hundreds of crores of investments on setting up full-scale manufacturing capability for solid oxide electrolysers,” Bhandari told NDTV Profit.
The Thermax CEO said that hydrogen as a technology for the future will be important for India’s many hard-to-abate industries like steel, refining, petrochemicals, and fertilisers
“I think solid-oxide technology for electrolysis is a key tech that can make this change happen faster,” he said.
The company is focusing more on green technology, which is reflected in the breakup of its Rs 10,500-crore order book, Bhandari noted.
“Right now, we are running about 70% of what we call as green (energy) and 30% of traditional fossil fuel,” the top executive said.
With the new opportunities towards green transition, Bhandari said that he expected the margins of the company to improve.
“I think Q1 in particular we had some exceptional hits. On our bio-CNG portfolio in particular and on our project side, we had items that resulted in one-time hits. Overall, I’m confident that our margin profile will continue on a trend of improvement,” he added.
Kitex Garments Ltd.
Some highlights from it's AR
● World's second largest manufacturer manufacturer of Cotton and Organic Cotton ready to wear Garments fo Infants & Children
● Export Revenue: 78%
● BIG Expansion Going on in Telangana:
Total size of Capex : 3300 Cr
11 lakh garments daily
Funding: 70:30 ( Equity/Debt )
● Project Phase 1
Warrangal Project: Near completion
918 Cr spent out of 1490 Cr
Production is expected by Dec 2024
Sitarampur Project:
Land payment settled
92 Cr have been spent on this project
● Financials:
FY 24 sales: 617 Cr
Possible Revenue from new Project: 3000 Cr ( 5x )
● Possible benificiary of China +1, Goverment push through PLI & Potential FDA, if & when being signed with the EU
Credit health and wealth via x
TEAMLEASE Management Says H2 Should See 8-8.5% Growth YoY In IT Hiring
BFSI Is Still Seeing Single-digit Growth Rate
After 5 Qtrs Of Decline, IT Hiring Has Seen Some Stability & There Has Been No Decline This Time
Godawari Power Says Pricing In Domestic Markets Is Much Better Than Export Markets
Will See Pellet Prices Improve In Q3
There Are No Imports Taking Place From China
We Have Not Done Any Exports In The Last 6 Months -CNBCTV18
AVP INFRA - Investor Concall -STRONG
● ORDERBOOK:
Current Ordeebook: 300 cr +
Orderbook Guidance by end of FY 25: 600-700 Cr.
Going to bid for HAM project from next month with partner.
● REVENUE GUIDANCE
FY 25: Guidance of 250 Cr+ topline ( ROAD EPC ) with similar PAT margins ( 11-12% ) - 50% growth
FY 26: Guidance of 500 Cr topline ( ROAD EPC ) - 100% Growth
SOLAR EPC revenue will be over and above this.
● SOLAR EPC
Hiring of employee is completed
Can expect new orders in H2,
Next FY - target of 150 Cr topline from Solar Segment.
● HAM PROJECTS
Company has tie-up with another infra player & going to bid in Tamilnadu & Telangana ( 1000 Cr )
As per agreement - AVP INFRA will get 100% revenue share from any of this new orders & partner will get royalty amount.
Source: Health & Wealth
Management interview of Kross Ltd post listing
#KROSS
Kross Ltd
Excellent growth track record for last 3 years with excess of 45% EBITDA, PBT and PAT CAGR and 34% revenue CAGR
Superior return ratios
RoE and RoCE in excess of 32%
Industry leading RoE and RoCE
To repay 90cr debt from IPO proceeds
To improve NPM by 1.5-1.8% immediately
70cr capex from IPO proceeds
To add 200-220cr incremental revenues
Should be operational by Q4FY25
Current utilisation at 70%
Industry growth at 20%
Kross clocking 40% rev CAGR and 50% EBITDA CAGR for last 3 years
Targets to do 950-1000cr revenue by end of FY26 with superior margins
Historical numbers:
Rev:
FY21 184cr
FY22 297cr
FY23 489cr
FY24 620cr
EBITDA:
FY21 19cr at 10% OPM
FY22 30cr at 10% OPM
FY23 58cr at 12% OPM
FY24 81cr at 13% OPM
Targets to take OPM to 15-16% in next 2 years
PBT:
FY21 6cr
FY22 16cr
FY23 42cr
FY24 61cr
One stock to track and see how they execute going forward
Seems to be a very capable and efficient management
Q1FY25 numbers tomorrow
Credit Shreenidhi p via x
👉Adani Enterprises Ltd:
🔹M Cap: ₹3,53,628 Cr
🔹CMP: ₹3,102
🔹Debt to Equity: 1.67
🔹Revenue Growth: -24.3%
🔹3 Years Sales Growth: 34.6%
Management has guided EBITDA guidance around ₹4,000 Cr.
👉E2E Networks Ltd:
🔹M Cap: ₹4,852 Cr
🔹CMP: ₹3,349
🔹Debt to Equity: 2.03
🔹Revenue Growth: 42.4%
🔹3 Years Sales Growth: 38.8%
Management has guided 40% Revenue growth.
👉Kirloskar Oil Engines Ltd:
🔹M Cap: ₹17,580 Cr
🔹CMP: ₹1,212
🔹Debt to Equity: 1.55
🔹Revenue Growth: 17.47%
🔹3 Years Sales Growth: 21.4%
Management has given Revenue guidance ₹6,500 Cr.
👉Blue Star Ltd:
🔹M Cap: ₹42,163 Cr
🔹CMP: ₹2,051
🔹Debt to Equity: 0.09
🔹Revenue Growth: 21.4%
🔹3 Years Sales Growth: 31.5%
Management has guided 20% to 25% Marginal growth.
👉Rashi Peripherals Ltd:
🔹M Cap: ₹2,588 Cr
🔹CMP: ₹393
🔹Debt to Equity: 0.45
🔹Revenue Growth: 17.35%
🔹3 Years Sales Growth: 23.2%
👉Marine Electricals (India) Ltd:
🔹M Cap: ₹2,957 Cr
🔹CMP: ₹223
🔹Debt to Equity: 0.39
🔹Revenue Growth: 40.4%
🔹3 Years Sales Growth: 35.3%
👉Tata Power Company Ltd:
🔹M Cap: ₹1,47,912 Cr
🔹CMP: ₹463
🔹Debt to Equity: 1.66
🔹Revenue Growth: 11.50%
🔹3 Years Sales Growth: 23.4%
Management has given CAPEX guidance ₹20,000 Cr
👉HBL Power Systems Ltd:
🔹M Cap: ₹16,786 Cr
🔹CMP: ₹606
🔹Debt to Equity: 0.06
🔹Revenue Growth: 63.1%
🔹3 Years Sales Growth: 34.8%
👉Schneider Electric Infrastructure Ltd:
🔹M Cap: ₹20,563 Cr
🔹CMP: ₹860
🔹Debt to Equity: 1.85
🔹Revenue Growth: 24.19%
🔹3 Years Sales Growth: 19.4%
Management has guided 10% to 13% Revenue growth.
TEAMLEASE Management Says For Next FY, We Should Go Back To Growth Rate Of 20% In IT Hiring
Demand Seen Across Sectors, Peak Utilisation Has Been Achieved
Yatharth hospital says Noida & Greater Noida Hospitals Should Touch Occupancy Of 70-75%
ARPOB Has Increased By 10% YoY & We Expect This Growth To Continue
Two Hospitals Are Still In The Growing Phase Where Occupancy Ramp Up Will Be Seen
Expect Occupancies To Be 65%+ By FY27 -CNBCTV18
KFin Tech Says Overall Industry Growth Remains Buoyant, Retail Investors Ticket Size Has Increased
Maintain 18-20% Revenue Growth Guidance
Expecting 30%+ AUM Growth Out Of Which 15% From Market Growth & 15% From Inflows
Confident Of Outgrowing Industry Growth Rate-CNBCTV18
AI & AI Infra - Global Markets to see USD 1 Trillion Opportunity - Similar Growth Playbook in India
AI market growth: The global market for AI-related products is projected to reach between $870 billion to $990 billion by 2027.
Annual growth rate: The AI-related services, hardware, and software markets are expected to grow 40-55% annually.
Supply chain strain: Demand is rising so fast that it may strain supply chains, particularly for critical components such as chips needed for AI servers.
Data center costs: The cost of larger data centers is expected to jump from $1-4 billion today to $10-25 billion within five years.
Chip component demand: The demand for upstream chip components, such as integrated circuit designs and related intellectual property, could rise by over 30% by 2026.
Generative AI expansion: Companies are moving beyond experimentation and are now scaling generative AI across their operations.
AI wave impact: This rapid growth is driven by larger AI systems and increased government investments, with countries like Canada, France, India, Japan, and the UAE subsidizing AI development.
Geopolitical factors: Rising geopolitical tensions could lead to shortages of semiconductors, impacting personal computers and smartphones, which may further intensify supply chain pressures.
Smaller models: In addition to large language models, small language models are emerging as a focus due to their efficiency and privacy considerations.
#Netweb
#Reliance
👉Reliance Industries Ltd:
🔹M Cap: ₹20,09,278 Cr
🔹CMP: ₹2,970
🔹Debt to Equity: 0.58
🔹Revenue Growth: 2.58%
🔹3 Years Sales Growth: 24.5%
Management has given CAPEX guidance ₹39,000 Cr.
👉Ahluwalia Contracts (India) Ltd:
🔹M Cap: ₹8,013 Cr
🔹CMP: ₹1,196
🔹Debt to Equity: 0.07
🔹Revenue Growth: 35.8%
🔹3 Years Sales Growth: 24.8%
Management has guided 15% to 20% Revenue growth.
👉D-Link India Ltd:
🔹M Cap: ₹2,349 Cr
🔹CMP: ₹662
🔹Debt to Equity: 0.02
🔹Revenue Growth: 4.78%
🔹3 Years Sales Growth: 20.0%
👉Orient Technologies Ltd:
🔹M Cap: ₹ 1,239 Cr
🔹CMP: ₹298
🔹Debt to Equity: 0.06
🔹Revenue Growth: 12.7%
🔹3 Years Sales Growth: 34.6%
👉Black Box Ltd:
🔹M Cap: ₹9,110 Cr
🔹CMP: ₹542
🔹Debt to Equity: 1.48
🔹Revenue Growth: -0.095%
🔹3 Years Sales Growth: 10.4%
Management has ₹1,700 Cr to ₹1,450 Cr Revenue guidance.
👉Anant Raj Ltd:
🔹M Cap: ₹24,720 Cr
🔹CMP: ₹723
🔹Debt to Equity: 0.17
🔹Revenue Growth: 54.9%
🔹3 Years Sales Growth: 81.1%
👉Esconet Technologies Ltd:
🔹M Cap: ₹604 Cr
🔹CMP: ₹488
🔹Debt to Equity: 0.06
🔹Revenue Growth: 44.2%
🔹3 Years Sales Growth: 46.1%
👉Techno Electric & Engineering Company Ltd:
🔹M Cap: ₹ 18,851 Cr
🔹CMP: ₹1,621
🔹Debt to Equity: 0.00
🔹Revenue Growth: 34.5%
🔹3 Years Sales Growth: 19.4%
Management has guided 13% to 15% Marginal growth.
👉Power Grid Corporation of India Ltd:
🔹M Cap: ₹ 3,38,728 Cr
🔹CMP: ₹364
🔹Debt to Equity: 1.42
🔹Revenue Growth: 0.52%
🔹3 Years Sales Growth: 4.97%
Management has guided CAPEX plan of 18,000 Cr.
