How are the margins going to improve? What is your thesis behind margin expansion? It is a trading business, right? Something like what Amazon does. Brands come and list their products and consumers would buy and from Amazon and Amazon just gets a commission or a listing fee. It’s a similar model for SG Mart as well, right ? If yes then margins should always be in lower single digits. If No then can you please provide some details about how margin expansion would happen. To me it seems like a volume business more than a margin one and 2-3% margins are not bad as long as the volumes continue to grow with a healthy rate.
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There is little chance of margin expansion. At best a 50 bps addition due to some better product mix, but to capture market share and get customers to use their channels there will be discounting done. Commodity trading at the end is a volume game and not margin.
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A classic case of Pump and dump going on.
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Noticed that Ashish Kumar Kacholia had conpletely exited Shankara and entered SGMart in the last quarter.
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There will be margin expansion, as they are increasing share of revenue from there own mamu tured, white label goods.
How is this company different from Mjunction???
I think its major competitor is L&T SuFin- Integrated B2B Marketplace for SMEs ?
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Notes
Main promoters:
Dhruv Gupta & Minakshi Gupta are also promoters of Apollo Pipes LTD which manufactures PVC pipes & accessories.
Public shareholders:
Neera Gupta, Veera Gupta & Ashok Kumar Gupta come from Promoter group of APL Apollo Tubes Ltd.
Sanjay Gupta of APL apollo is elder brother of Sameer Gupta of Apollo Pipes
Meenakshi Gupta is wife of Sameer Gupta and Neera Gupta is wife of Sanjay Gupta.
Couldn’t find much about who is Dhruv Gupta.
QRG Investment is promoter group of Havells Ltd.
Ashok Kumar Gupta is also MD of Shalimar paints Ltd.
Sg Logistic Management Pvt. Ltd also seem related party.
Warehouses
Pune
Bangalore
Dujana
Raipur
Dilution
1,44,60,000 warrants yet to convert which will dilute with existing 11.15Cr shares which is almost 13% equity dilution will come in near future.
What I think is APL has merged APL mart idea to SG Mart.
Large market size, huge scope of revenue growth,
valuations seem little stretched, will wait for favourable time to enter.
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Dhruv Gupta is the son of Sameer and Meenakshi Gupta. He’s still a high-schooler, that’s why no info about him.
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HI can you please quote the source of this data? Thanks
Screener, investor section
This must be an older document right?
Not. it’s financial year 2022-23.
That is, when it was Kintech Renewables. FY23-24 will be the first annual report as SG Mart
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Has anyone got the link to register for the concall?
the link is not a hyperlink (not clickable)…
Yeh, I saw that, has anyone written to the investor relations for getting the link?
How do you assess the Q1 Results of SG Mart? Ofc, there’s a massive YoY growth but, QoQ degrowth…