Hi Harsh,
Apologies for this naïve question but can you please tell , from where and how do we see if a company is clearing EPFO dues?
Hi Harsh,
The improvement in bottomline looks to be more topline driven, rather than decrease in the expenses. This growth in topline primarily looks to be coming from international business. Do you agree?
What gives you confidence that growth momentum will continue to drive bottom line from current Rs 650 Cr (FY23) to Rs 1000 Cr in FY24-25?
Please share your views
Not at all, sales have grown at 7% and profits at 22% CAGR in last 3 years. You need to remove excise duties and then compute net sales (which is done in screener).
They did 254 cr. profits in Q1FY24, generally Q1 in India is a soft quarter and nos pickup with festive season. So if their 250 cr. quarterly profits is sustainable, they can potentially do 1000 cr. profits this year. However, I dont know how future will play out.
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Hey Harsh, You have decent amount of Pharma exposure. However, I think CDMO, CRO companies are not part of your portfolio. Just wondering if it is intentional or accidental? Also knowing your thoughts in general on CDMO space within pharma will be helpful.
Cheers!
You sell shemaroo, are you still tracking it or not?
Yes, my overall pharma exposure currently is very high, ~23%. This is the second time I got the sector right, and also scaled position size reasonably well. Coming to CDMO/CRO/etc., rather than labeling and then doing some variant of thematic investing, I find betting on specific businesses that I understand as somewhat better. For e.g. I have been holding Ajanta Pharma since 2018 and the main reason has been there is no other listed pharma co with a globally diversified business model that makes higher ROIC and FCF. I have been unable to categorize it into any bucket (not completely branded, no CMO, no CRO, no API) but still they have better metrics than most other listed cos. That being said, I was contemplating adding Syngene in May 2020 as a replacement for Divis (see below), when its valuations had become reasonable but missed adding it. I think you can label Syngene as a CRO, maybe when it becomes reasonably valued, I might add it. As you might have realized by now, I dont really care much about overhyped stocks.
Yes, please check the Shemaroo thread, I have been updating latest developments there.
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Hi Harsh, I am new to valuepickr.Can you guide me to threads about Shemaroo.So, I can read it in more details.
Hi @harsh.beria93, regarding Aptus Value Housing Finance, any change of views regarding their modus operandi? I have recent invested with a sizeable amount, and hence the question.
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dharmaj company —vagra plant in fire…which is under construction
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Quote source please
As far as I understand their one plant in Ahmedabad, 2nd in Baruch. The fire news today is of Surat GIDC.
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A fire broke out at Dharmaj Crop Guard DCGL Company of Wagra Saikha GIDC after an hour of effort, the fire brigade brought it under control.
Source:A fire broke out at Dharmaj Crop Guard DCGL Company of Wagra Saikha GIDC after an hour of effort, the fire brigade brought it under control. | વાગરા સાયખા GIDCની ધર્મજ ક્રોપ ગાર્ડ DCGL કંપનીમાં આગ લાગતા ફાયરબ્રિગેડે એક કલાકની જહેમત બાદ કાબૂમાં લીધી - Divya Bhaskar
@harsh.beria93 who did you come to know about Geekay Wire being among the only 2 approved companies to be able to sell pneumatic nails to US ? I am studying this company but could not find this info.
In Maiden Forgings call, however Geekay management declined it at their AGM.
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Hi Harsh, @harsh.beria93
May be too early… as result just came of Dharmaj Corp. Awaiting result analysis please.
Thanks and more power to you.
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@harsh.beria93 What is your view on Jagran Prakashan’s continued bad results compared to DB Corp. What is the major reason for this divergence in performance according to you. Any thoughts on selling Jagran.
Thanks for your time 
Hello Harsh
Whats the thesis on Gufic Biosciences . In its core business of lympho powders cant see much growth. Have you invested on the premise that this Botox equivalent treatment that they have some approvals and expect to launch. Do you really see Indians particularly affluent ones go for this Indian Botox treatment just due to lower costs >>
Appreciate any insights
Malolan R
Results were decent.
Jagran’s recent performance has been quite disappointing, I think it has something to do with promoter family issues but I dont have any insights. For now, I have kept both DB Corp and Jagran, but have been slowly selling shares in both over the past few months. Its crazy that I have made 2.5x in a basket of newspaper cos in less than 2.5 years!
They continue investing in growth and I still feel bullish, maybe a little bit less now as price has close to doubled since I bought. I feel their business is quite unique and can get high valuations if they scale profitably.
Gufic is largely a play on hospital sector growth in India, as more than half of their business comes from supplies to hospitals. Nowadays, there are very few pharma cos that are growing sales at 18-20% rates, while maintain strong unit economics. These narratives around botox is just for entertainment, it doesn’t drive any real business value at the current scale.
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