Transpek Industry limited

(Dhiraj Dave) #43

What i find interesting significant positive element of Comprehensive income during Q2FY19 as as well as Q1FY19 which is around Rs 5-6 Cr and almost around 21 Cr for FY18. The amout is around 33% of Total Comprehnsive income. Not sure but may be due to MTM gain on forward contract, but would be curious to understand this part as it is singificantly high proportion.

Discl: Among my Top 5 holding. Invester shall do their own due dilgience before making investment decision.

(Aveek Mitra) #44

@dd1474 These are part of other comprehensive income possibly resulted out of 1) M2M on their investment of 156650 shares of Excel Industries Limited. 2) M2M on their open forex positions 3) M2M on their 7.87% stake in Transpek Silox Industry Private Limited (but whether M2M is needed for unlisted company I am not sure & you can update).

These Other Incomes doesn’t affect the EPS calculation as this is done without considering those.

Most importantly, the ROE got depressed due to addition approximately Rs. 100 Cr to reserve and surplus in 2018 as Other Comprehensive Income as you can see from below snapshot of AR 18.

It has made the calculation of true ROE quiet a bit tougher.

(kdjolly) #45

Very good Q3. Your take on this @aveekmitra, @dd1474?

c3dfa8ea-1ba1-47b6-89d0-77e7c0ad3539.pdf (823.3 KB)

(Dhiraj Dave) #46

I feel number are showing that the company has achieved good operating rate on new project. we are not sure whether current capacity fully utilised or there is further scope for sales growth. Since there is no volume information available, we can read sales value as next best proxy indicator. The Q3 performance justify current price in my opinion. I would continue to hold my position at current level. Not sure whether answer your question but frankly, I do not know beyond what I have wrote.

(Ayush Mittal) #47

Fantastic nos indeed. It clearly seems that the scale up has been happening on the MNC contract.

Interestingly as per the Sept 18 balance sheet, there was a CWIP of about 50 Cr hence it seems further expansion might be underway or would have just happened.

Does anyone has AGM 2018 notes?

(vivekchoraria) #48

am new to the co in terms of doing research on it. are there any one off contracts which got booked in q3 or should we expect the current run rate on the topline to continue going forward. The margins seem to be stable across many quarters.