Pharma Sector:
(Comparison)
1. Supriya Lifesciences: Most dynamic performer with standout growth across metrics.
2. Caplin Point: Steady and reliable, offering consistent performance.
3. Innova Captab: Strong growth but comes with a higher valuation.
Escorts says Expect combined Market Share at 12-12.5% by end of FY25
Kubota sales strong in Oct 2024
Exports will scale to 15% in 4-5 Yrs vs sub 5% now
Expected higher valuation for rail biz incomparison to what it was sold at
Va Tech Wabag:
Co Targeting 3x Revenue Order Book,
15-20% Revenue Cagr,
13-15% Ebitda,
>20% Roce
With Asset-light Model,
O&m At 20% Of Revenue,
>15% Roe,
And A Net Cash-positive Position Over 3-5 Years
Future Outlook:
The Company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. With the transition to new emission norms, we remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects.
Regarding exports, the company continues to work closely with its trade partners to drive growth in respective end markets. We remain cautiously optimistic about the export demand recovery as the economic and geopolitical events have impacted the end markets. With its diversified portfolio of products, company remains optimistic about the recovery in exports demand.
The Company has access to latest technology, a trusted brand, wide range of incredible products, world-class manufacturing capabilities, best-in-class talent, and a customer-centric service organization with an extensive distribution and service network throughout the country and neighboring regions. The company is well- positioned with a strong balance sheet and liquidity position to support profitable growth.
Shveta Arya, Managing Director, Cummins India Limited, said:
The Indian economy continues to remain resilient despite increasingly intense geopolitical conflicts. GST collections continue to remain strong, indicating robust underlying trade activities, while other key economic indicators like IIP, PMI are pointing to a reasonable economic outlook for the year.
With stable fiscal and monetary policies, the Government’s continued emphasis on infrastructure development, and PLI-led capex, the Indian economy is on course for growth in the range of 6.8% to 7.2%, according to various estimates. Cummins India Limited continues to execute its profitable growth strategy and is well-positioned to meet the demands of its end markets. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions.
Effective July 1, 2024, with a complete transition to CPCB IV+ emission norms for the applicable products, the company is well-positioned and had all its products certified well ahead of the time.
Entities & Joint venture
The eight entities (including three joint ventures) few notable ones are :-
• 50:50 joint venture between Valvoline International Inc., USA, a global leader in lubricants and engine oils.
• Owns 48% shareholding in the Associate Company CGT which is in the business of design, manufacturing, marketing, sales and service of alternators and related spare parts
Engines Business Division (~69% of revenues)
The company's business division is divided into 4 main segments :-
1) Engine Business Unit: It designs and manufactures diesel and natural gas-powered engines. The business also offers new parts and remanufactured parts and engines.
2) Power Systems Business Unit: It provides power generation systems in standby power and distributed power generation for individual and institutional customers in various segments, such as infrastructure, IT/ITES, data centers, realty, healthcare.
3) Components Business Unit: It consists of four businesses with key technologies for delivering integrated solutions: Cummins Filtration, Cummins Turbo Technology, Cummins Emission Solutions and Fuel Systems.
4) Distribution Business Unit: Cummins in India serves customers through their network of 3 Generator Original Equipment Manufacturers (GOEMs), 21 dealerships and more than 120 dealership and branch offices in India. It supports more than 5,75,000 engines out in the field with more than 2,25,000 + customers across various markets in India, Nepal and Bhutan.
Lubes Business Division (~31% of revenues)
The lubricants division comprises of the JV viz. Valvoline Cummins Pvt Ltd in which the company holds 50% stake. The company sells Valvoline branded lubricants under this division.
Formed in 1962, Cummins India Limited, the largest entity of Cummins in India, is the country’s leading manufacturer of diesel and natural gas engines.
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EARNINGS
GOOD-CUMMINS INDIA, INDIAN HOTELS, LUPIN, EMAMI, ITD CEMENTATION
INLINE/MIXED-GE SHIPPING, COCHIN SHIPYARD, ABFRL, NHPC, VA TECH WABAG, NHPC
WEAK-ASTRAL, SAIL, GUJARAT STATE PETRONET, RVNL, IRCON
Here are some key applications:
Grid Storage: Used by utilities to store excess energy from renewable sources during times of high production and low demand, then releasing it when demand is high. This helps to stabilize the grid and prevent outages.
Renewable Energy Systems: Solar and wind installations often include battery storage to store generated energy for use when the sun isn’t shining or the wind isn’t blowing. This enables a more reliable energy supply.
Residential and Commercial Use: Home and business battery systems store energy from solar panels or the grid, providing power during peak rates or outages. Tesla's Powerwall is a well-known example for home use.
Electric Vehicles (EVs): EV batteries store energy for transportation. Increasingly, EVs are being explored as a resource to feed power back into the grid or home (known as vehicle-to-grid or V2G technology).
Remote and Off-Grid Locations: Battery storage provides power to areas not connected to the grid, often paired with solar or wind generation to create self-sufficient energy systems.
Backup Power: Battery systems serve as backup power sources in hospitals, data centers, and other critical facilities to ensure continuous operation during grid failures.
Apollo Hospital mngmt Says Occupancy Expected At 70% In H2FY25
Worli Hospital Building Cost At 1,300 Cr Over Next Couple Of Yrs
Medical Discharge And Surgical Work Were Major Growth Drivers In Q2
Q2 Is Usually A Very Good Quarter For The Company
Stock of the day ApolloHosp's Suneeta Reddy says, co expects ARPOB at ₹60,000 in H2FY25 with a growth rate of around 4-5%
'Looking at the insurance space closely, have plans in place for the insurance space' she adds
Confident of reaching ₹4,000 cr FY25 GMV target for 24/7 ; Appolo Hospital
Will share One stock in detail stay tuned
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Small Cap: India Electronics & AC Manufacturing Theme:-
(1) Kaynes Tech:
A leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, with capabilities across the entire spectrum of ESDM services.
(2) PG Electroplast :
Co. specializes in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding, catering to 50+ leading Indian and Global brands.
(3) EPack Durables :
Co. is the 2nd largest room air conditioner Original Design Manufacturer (ODM) in India in terms of number of units, specializing in room air conditioners (RAC) and related components. It has 24% market share in domestically manufactured units by ODM in FY23.
(4) Amber Enterprises :
A 23.6% share in the total Room Air Conditioner market and is a prominent solution provider for the Air conditioner OEM/ODM Industry in India.
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Which stock do you own and what price?
Disclaimer - For education purpose, not buy/sell recommendation. Please do your research.
Lupin raises FY25 core margin and EBITDA margin guidance
Core margin now seen in the range of 23-25% Vs previous guidance of 23-24%
CUMMINS INDIA Q2FY25 CONCALL
Maintain Doube-digit Revenue Growth In FY25
Guidance: expect double digit growth in sales for full year FY25
Cummins India Says Watching CPCB IV+ Gerket Mkt, Will See What Happens To Pricing In Next 2 Qtrs
Have Been Able To Maintain The Pricing For CPCB IV+Gensets Since Launch
Well Positioned In CPCB IV+ Gensets Market
Exports Were A Mixed Bag, Saw Good Orders Coming In From Latin America & Europe
Cummins India See A Large Share Of Projects Biz In This Quarter
CUMMINS INDIA Says Capacity Utilisation Is At 60-65% On An Avg
We Are Working On Margin Improvement
Given Al Boom, Demand From Data Centres Is Robust, We Are Focussing On The Segment
Indigo Paints says Demand In 02 Was Subdued, Co Outperformed Industry
Will Return To 20-25% Growth Once Demand Returns
Volume & Value Growth Have Been Largely Similar
Price Hikes In Prev Qtrs Haven't Made Up For The Cuts Taken 10 Months Ago
INDIGO Paints Says There is Some kind Of Demand Slowdown
Guidance and Outlook ( AUG 2024 )
Management anticipates double-digit growth over the fiscal year 2024-25, aiming for growth at 2x the GDP rate.
The company is optimistic about maintaining strong domestic demand driven by infrastructure development.
Recently posted Q2FY25 very strong Number
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Geographical Split (FY20)
Domestic: 70%
Export: 30%
The company exports its products to the United States, the United Kingdom, Mexico, Singapore, and China.
Solution Provide to all major industry
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Cummins India Ltd is a part of the Cummins Inc. Group USA.
It designs, manufactures, distributes and services diesel and alternative fuel engines from 2.8 to 100 liters, diesel and alternative-fueled power generator sets of up to 3000 kW (3750 kVA), as well as related components and technology.
today we try to study one company
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India Pesticides says
Volumes improved by 35%, prices declined by 20% this quarter.
Margins will be around 18-19% in FY25.
Intermediate plant will reduce costs by 10%, we have completely stopped importing the intermediate now
BATTERY STORAGE ( BESS )
Battery storage is a technology that stores electrical energy in rechargeable batteries for later use.
It involves capturing energy, storing it, and then releasing it when needed. Battery storage is essential for balancing energy supply and demand, especially as renewable energy sources, like solar and wind, are inherently variable.
These systems use technologies like lithium-ion, lead-acid, or newer alternatives like solid-state batteries and flow batteries.
KAYNES Management Says Will be beneficial for India on overall basis
Import substitution and geographical expansion to be growth factors
Will augur well for demand of products and services
Positive for most of the EMS cos working in infra, defense and other sectors
Many OEMs are looking at India seriously to increase their presence
Companies with good value proposition will benefit the most
Indian cos will receive more inquiries from global EMS
Kaynes Says Manufacturing in the US will get tailwinds
Maintain guidance of Rs 3000cr of topline with EBITDA exceeding 15%
For next 5-10 years 40-60% growth should be feasible
For EMS will have capex of Rs 200-Rs 250cr by end of the year
Capex will grow at 50% from next year
Expecting to clock Rs 4000cr revenue from Semicon Biz by FY30
Nomura on India T&D
CG Power – Initiate Buy with TP of Rs 970
GE T&D – Initiate Buy with TP of Rs 2500
Apar Industries – Initiate Buy with TP of Rs 11700
