Isnโt the 6th point in the AGM notice shared yesterday that I have shared as screenshot say they intend to increase? Am I missing something?
Yes, they are increasing the authorised capital. This needs to be done first before they can issue further shares. At this point (where auth. capital is being increased) no shares will be issued. It is a procedural thing.
In laymanโs terms - they are seeking permission to cut the pizza which currently has 4 slices such that it will have 6 slices. How and when the new 2 slices will be shared isnโt mentioned in that clause. Once permission is received from shareholders, the company can use it to raise cash by way of QIP, Pref allotment, rights issue etc. These new slices (shares) will not be given out for free to existing shareholders (Bonus issue) as this resolution most likely has been brought to enhance the strength of the Balance Sheet by raising equity investment so that they can deliver the Orderbook and also improve their Credit Rating
2 Likes
Has Capacite infra won any project today?
The stock has risen 6% suddenly anyone have any news?
No but the directors have given a comfort letter for unsecured loans to the company. Liquidity is more important than orders for the company
2 Likes
Results seems to be in line as suggested in last concall. I was expecting nothing but a flat quarter, though I expected them to have some positive commentary on their NFB limits. But I know things at sanctioning level works little slow. Hopefully they would deliver that 2100 revenue and 18 per margin by the end of the year
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All impatient souls taken out today. Is there any updates on concall. Did promoters gave any byte to TV channels
4% dilution with conversion of warrants by Rohit and Sakshi last week. Some additional cash infusion in the process, and the price has remained flat, and in fact has gone up 3-4% since last week. Good signs.
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Their order book says Majority is
1.Public Order book
2. High Rise Buildings.
Can someone give an example of Public High Rise Projects?
Are they all Mhada projects?
Please refer the presentations. They have highlighted all the projectsโฆincluding oberai and raymond and few godrej
Anyone invested and tracking this company closely?
Company posted decent Q4 results with sales increasing from 62 to 87Cr and profit 20 to 30 Cr. Company has provided good guidance for next 2 years growth (30%)
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company has a standalone order book of roughly Rs 8,800 crore in September with 70% of the projects from the government and the remaining 30% from the private sector
Managmnet interview
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Hi All,
Seems like not much traction here recently. I think many contractor businesses have been doing well & should keep doing well over the next many quarters. Capacite has good reputation & has been gaining orders from multiple states & real estate developers. Revenue to order book is strong >4 times & has been executing well since over a year now. Good capex support from both govt & private, good order book to revenue ratio maintenance & reasonable valuations have been supporting the stock rallies so far. Of course itโs a highly cyclical & risky space but the management seems very competent, hungry & transparent. Which makes a good cocktail with infra upswing.
Disc: Holding
5 Likes
๐๐ฎ๐ฝ๐ฎ๐ฐ๐ถ๐๐ฒ ๐๐ป๐ณ๐ฟ๐ฎ ๐๐ถ๐บ๐ถ๐๐ฒ๐ฑ โ Company is a Tier 1 EPC contractor with specialization in high rises projects & urban infrastructure.
๐๐๐ฟ๐ฟ๐ฒ๐ป๐ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น๐ถ๐๐ฎ๐๐ถ๐ผ๐ป โ โน๐ฏ,๐ญ๐ฏ๐ฌ ๐๐ฟ๐
๐ฆ๐ผ๐บ๐ฒ ๐ธ๐ฒ๐ ๐ถ๐ป๐๐ถ๐ด๐ต๐๐ ๐ณ๐ฟ๐ผ๐บ ๐น๐ฎ๐๐ฒ๐๐ ๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐ฐ๐ผ๐ป๐ฐ๐ฎ๐น๐น & ๐ฝ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฎ๐๐ถ๐ผ๐ป ๐ณ๐ผ๐ฟ ๐ค๐ฎ๐๐ฌ๐ฎ๐ฑ-
- Current order book is approximately โน9,000 crs + (4.5 times FY24 Revenue ), additionally looking at order inflow of โน3,000 crs for FY25, excluding MHADA order which is expected to be another โน3,000 crs
- Management expects to maintain margins & reduce working capital days, along with increasing order book at 20-25% growth rate annually
- Company has signed new clients including likes of Signature Global during FY25
๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ต๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐:
- H1FY25 Revenue โน1,088 Crs with H2 being seasonally better for industry & company
- Expected FY25 Revenue at current run rate should be โน2,200 Crs
- H1FY25 operating margins are 18.5% compared to 17% in FY24
- Expected operating profits for FY25 should be โน400 Crs
- TTM Earnings per share is โน21.5, implying TTM P/E of 17 times
- Annualized Earnings per share for FY25 should be โน23, implying FY25 forward P/E 16 times
Source: SBI securities report & company published data & interviews with exchanges
5 Likes
Recently started tracking this company. It says to also have construction work for data centers which is nice to have considering the opportunity. Says to have a balance between private and government projects in the future.
And with government supporting if not boosting the capex in Infra, this seems like a good bet for now.
Disc - Invested today
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Management reiterated their guidance of 25% revenue growth for FY25 and are confident they will achieve this, aiming for at least โน700 crores of execution in Q4 FY25.
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A minimum of 25% growth for FY26, potentially reaching 30-32%. This growth is underpinned by a strong order book and expected faster execution on newer projects.
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The company has already secured new projects worth โน2579 crores YTD. They are confident of exceeding their guided order book addition for FY25, expecting to surpass โน3000 crores easily and even potentially reach โน4000 crores with Maada project additions. Next financial year, they are aiming for โน4000 crores of new order inflow.
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Significant revenue contribution is expected from projects with SITCO (aiming for โน85 crore/month billing in FY26), Maada (approx. โน400 crore for FY26), Signature Global (approx. โน240 crore for FY26), and the new NBCC project.
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Margins Were Down in Q3 FY25:
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A one-time expense of โน12 crores related to differential GST rates for a public sector contract (Bhagwati project of MCGM).
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This expense pertains to the increase in GST rate from 12% to 18% which has not yet been reimbursed by the client.
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While the company believes the client is legally obligated to bear this differential GST cost and industry representations support this view, they booked the expense as a matter of prudence due to a lack of written documentation and to be conservative
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Excluding this one-time expense, the EBITDA margin for Q3 FY25 would have been approximately 18.7%, in line with previous periods.
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Very tempted to buy it give the valuations and strong management commentary.
2 Likes