Talwalkars Better value Fitness Ltd - Good fundamentals


(Aditya Mehta) #112

PRESENTATION And Concall details


(ASPN) #113

Surprised to see the presentation states that the company could not achieve higher PE multiple (Slide 3) because it was two companies in one. So that was the reason for share price not going anywhere since listing. What rubbish! :rage:. It even makes reference to SOTP valuation for Lifestyle business (Slide 14). It is funny they are talking about enhancing shareholder value by way of demerger (Slide 2), when a lot of value has already been destroyed.

Demerging the Gym business, naming it as Lifestyle business, then swapping the names… What the heck !


(shenbal) #114

The name change googly is the most confusing of all things. Why demerge 71%, call it a different name and list it and then swap the names again …

The record date for the demerger is 28th Mar 2018. This is hidden somewhere in the detail. I think it would take another 3 to 6 months before the air is cleared and the name swap is completed and public understand the right valuation (and stock price) for each of the names …


(ragsingh0305) #116

I think the biggest problem here is the debt levels‚Ķabout 200 crores on a EBITDA of 40 cr. They might raise a few more in the current fiscal. Despite 150 cr Mcap, the valuation looks steep because of debt. Currently it does not go as per the managment statement of ‚Äúasset light model‚ÄĚ, may be if their club business does well they might reduce debt levles.
It seems that the management does some kind of injustice to this lifestyle business by carving out 20% of company’s total revenue and 40% of total debt.
Furthermore I could not get any satisfactory answer from the earnings call on the investment infusion by their European JV partner.


(abhijain) #117

Hi friends,
Is there any idea when the listing of the gym business is going to happen? I have demerged gym business shares at Face Value of rs. 10 reflecting in my Demat account for the last 45 days or so.


(ashish agarwal) #118

(Aditya Mehta) #119

(Aditya Mehta) #120

(paresh.sarjani1) #121

Is anyone is tracking this… Lot of pledges done recently…
Total 17% shares are pledged it seems…
Does anyone remember any such plans of promoter during previous concalls?


(cool_gaurav) #122

i think we need to see new co. shp also


(cool_gaurav) #123

Additional pledging is done due to drop in share price. Combined entity post split CMP-190 and earlier per split price 280. May be that can be the reason. They are yet to release SHP for new Co.


(paresh.sarjani1) #124

Talwalkars declared March Results today…

Results look good…but more impressive is the presentation… Company is expanding beyond India too… will raise 750 crores it says…

Link to results and business done on meeting