Order Book
As of FY23, the company has an order book of Rs 3200 Cr spread across 3 segments:
Infrastructure (48.8%),
Water Management (43.92%)
Buildings (7.28%)
Company has received multiple new orders during Apr 23 to Feb 24 of more than 1200 Cr.
Business overview
Company is in EPC business with diversified presence in highways, roads & bridges, civil construction (water management), irrigation, mass & affordable housing, and power projects. It has successfully executed 200+ civil construction projects till date across various segments in the southern states, such as Karnataka, Tamil Nadu, Telangana and Andhra Pradesh.
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KAYNES Tech Says Tariffs matter in the short term at best; very little long-term effects; most of the tariff barriers will eventually come down - ETNOW
See an opportunity to build manufacturing units in the US
Semicon business to generate Rs. 5000-6000 cr additional revenue by FY30
Semicon is a capital intensive business - capex of Rs. 3400 cr planned; to see significant commercial potential by 4QFY26 and revenue generation by FY27
Overall will continue similar growth rate in FY26
Narayana Hrudayalaya says
🇮🇳 on the path of creating capacities to address shortage. Affordability issues being solved via govt schemes & Insurance
Investing in robotics
🤖 In H1FY25 did 900 surgeries, target 10k pa in 3 yrs
MOBIKWIK Management Says Distribution Of Insurance, Credit Products, Savings Products Will Be Key For Growth
Payment Biz Makes 20% Contribution Margin
Co Became Profitable In FY24
Proliferation Of Payments Business Is Key
Globally, Payments Is A Low Margin Business
KRN Heat Exchanger
It is a fast-growing player in the HVAC&R industry. In just 7 years, it has established itself as a strong player, specializing in commercial heat exchangers.
1. Promoter’s Unique Journey
Founder Mr. Santosh rose from the shop floor to launch his own company, leveraging hands-on expertise to drive innovation and growth.
This deep industry knowledge is a core strength for KRN.
2. What Makes KRN Unique?
Heat exchangers are critical components of HVAC systems, contributing 10–12% of their value.
Industry growth drivers:
- PLI schemes boosting industrial capex
- Rising demand for data centers, metros, and railways
3. High Barriers to Entry
KRN stands out in a quality-sensitive market with:
- Marquee clients like Daikin, Schneider, and Vertiv
- Proven reliability and trust among customers
- Compliance with stringent quality standards
4. Impressive Growth Story
- Bootstrapped until IPO by a first-gen promoter
- Exports contribute 15% of sales, with significant growth potential
- Diversified portfolio + plans to expand into new industries
5. Mega Expansion in Progress
KRN is investing ₹350 Cr in a 6x capacity expansion via a greenfield facility.
Expected benefits starting FY26:
- Higher margins
- Better return ratios
- Broader market reach
6. Financials & Future Potential
- Forecasted EBITDA CAGR of 55–60% (FY24–27)
- Exports identified as a major long-term growth driver
- Positioned to capitalize on a booming 20% CAGR HVAC market
7. Growth Drivers
i. Rapid HVAC growth: Industrial capex, railways, and data centers are fueling demand.
ii. Export focus: Global opportunities provide revenue diversification.
iii. Mega capacity expansion: Ready to enter new industries and scale further.
Valuation little expensive one can study once, no buy sell suggestion
8. Risks to Consider
i. Capacity Delays: Any delay in the new facility’s ramp-up could hinder growth.
ii. Market Slowdown: Weak HVAC&R demand would impact earnings.
iii. Quality Sensitivity: Stringent standards mean zero tolerance for errors.
iv. Raw Material Volatility: Copper & aluminum prices may affect margins.
9. KRN Heat Exchanger is a niche leader with:
- High entry barriers
- Strong client base
- Huge export potential
Its ₹350 Cr capacity expansion promises margin improvement and significant growth starting FY26.
Credit Saksham via twitter
Symphony Says
December will see largest ever pre-sales number; will flow into march qtr
Expect Q3 to be subdued
Expect strong collections in Q4
CLEAN SCIENCES
Commencement Of Commercial Production Of Butylated Hydroxy Toluene (BHT) By Clean Fino-Chem Limited, Wholly Owned Subsidiary Of The Company
Commercialization of BHT, an anti-oxidant, will enable the Company to acquire a key position in anti- oxidant supply chain with existing product basket of Butylated Hydroxy Anisole (BHA), Tertiary Butyl Hydroquinone (TBHQ) and Ascorbyl Palmitate (AP).
The Company will be manufacturing BHT on campaign basis in existing facility thereby leveraging existing fixed asset base.
@Companyupdate
CITY UNION BANK Management Says Will have some part when deposit growth lags and vice versa- ETNOW
Do not think loan growth will be restricted by deposit growth
City Union Bank likely to maintain growth 2% higher than system growth rate
Do not expect significant impact due to monsoon disruption in Tamil Nadu
Have seen bigger catastrophic events in the past
CITY UNION Says Bank's focus had been on creation of 1985 businesses
Do not anticipate to enter into MFI or other unsecured sectors
Have started retail secured loans like LAP
Bank's CASA has been at 25-30%
Cost of deposits will always be in tune of interest rate cycle
There could be quarterly aberrations
Ratnamami Metal Management Says Revenue Guidance For FY25 Is ₹5,000-5,500 Cr & Margin In Range Of 16-18%
Revenue For FY26 Is Expected At ₹6,000-6,500 Cr - CNBCTV18
Genset Industry
- Strong demand across real estate, healthcare, data centers, and infrastructure.
- CPCB IV norms driving 30-40% higher realisations and margins.
- Export market ($4B) and data centers boosting high-margin growth.
Out of total labour force of 55 cr, only 11 cr+ are present in formal workforce. We recommended incentivising formal job creation".
-Lohit Bhatia, Quess Corp
Revenue Split
Water Management: 76% in FY23 vs 22% in FY22
Infrastructure: 18% in FY23 vs 65% in FY22.
Buildings: 6% in FY23 vs 14% in FY22
RPP Infra Projects Limited, incorporated in 1995, is engaged in construction across multiple infrastructure verticals like roads, buildings, industrial structures, power, irrigation and waste management.
Читать полностью…RAYMOND CHAIRMAN Says FMCG Business Sale Was A Win-Win Situation For Both Parties
RAYMOND CHAIRMAN Says Real Estate Business Will Be Demerged By Q3 Next Year
Took 100% Of My Proceeds On Sale Of The FMCG Business, Put It Bank in The Current Business
Do See The Real Estate Business Catching Up To The Lifestyle Business
The Markets Rewarded The Demerger Of FMCG Business
ZYDUS WELLNESS
Rare conversation with the management
Targets mid-teens revenue growth going forward
Expects 17-18% margins in 2-3 years even as they will invest 13-14% on Advertising
Distribution to increase by 1m outlets in 2-3 years
Logistics Sector
Part 1: The ones delivering more than just cargo 💰💰
1) SJ Logistics
- 120% Sales Growth🔥🔥
- IATA License also ✅
- Management says growth momentum will continue going ahead
2) Tiger Logistics:
- 180% Sales growth🔥🔥
- Target of 100% sales growth for next 3 years 🔥🔥🔥
3) Zeal Global:
- GSSA business model
- Passenger volumes up by 3x🔥🔥
- Onboarded South African Airlines (A 3x potential in cargo volumes🔥)
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Kaynes Tech
👉 Explains their focus on PC boards
👉 Sticks to revenue guidance of Rs.3000 cr in FY25
👉 Smart meter revenues will scale to Rs.1000cr by FY26
Senco Gold says
🪙 QIP Funds will be used for opening new stores, index to open 18-20 stores
🪙 Will invest max Rs.40-50 Cr in Non-Jewellery Business
🪙 Annual PAT expected at Rs.220-250cr by FY'27
BIRLA CORP Says Expect FY26 to be better than FY25 for cement sector - ETNOW
Cement prices have risen by Rs 7-10/bg
Cement prices in infra led markets like Gujarat, Bihar has been higher
Seeing pickup in cement demand after harvest, festivities
Prices have risen, but continue to remain cautious on pricing outlook
Lower capex, lower state govt spending on infra impacted cement demand
Seeing rationale pricing coming back led by higher infra spending
KAYNES TECH Management Says Commercial Production For Semiconductor Unit Will Start By Q4 Next Year
High Density PC Board & Fabrication Projects Which Will Benefit From Component PLI
OSAT & PC Board Fabrication Will Be In Focus For The Co
Just Being An Assembler Won't Be Sufficient To Meet Growth Targets
KAYNES TECH Management Says Commercial Production For Semiconductor Unit Will Start By Q4 Next Year
High Density PC Board & Fabrication Projects Which Will Benefit From Component PLI
OSAT & PC Board Fabrication Will Be In Focus For The Co
Just Being An Assembler Won't Be Sufficient To Meet Growth Targets - CNBCTV18
INOX GREEN , INOX WIND : Inox Group Says On Track To Quadruple Revenues Vs Last Year
Look To Leverage Strength In Renewable Biz Using Our Strength In Wind Biz
Inox Wind Does Not Depend On Any Subsidy
Current Order Book Is At 3.5 GW, Sold Out For The Next 2 Years - CNBCTV18
Cholamandalam Investment & Finance says
🎯AUM growth will be in 25-28% range in FY25
🤔 Adds that CV segment may not see large growth which was expected earlier
👉 Expect some decline in asset quality in H2FY25
RAMPRAVEEN SWAMINATHAN
MAHINDRA LOGISTICS
Expect a stronger second half
Have seen some stability and recovery in margins
We are back on the growth trajectory; the next two years will be better than the last two years
Share of customer wallet is increasing
Mahindra Group contributes to roughly half of the revenue
Expect overall business to grow at an early to mid-teens rate