Can anyone share the date for receiving the bonus shares in our portfolio? From what I know it should have been reflected in the portfolio by Dec, 28th; but I still haven’t received it. I had bought the shares at 3300 around a month back but not it is trading around 1600 because of the bonus issue I think but the number of shares is the same as what I had originally bought.
Thanks 
I received the bonus shares in my trading account last week itself actually
28.12.20 is the record date to ascertain eligibility and it may take a while to credit to your demat account.
@Vineetjain111: 28.12.20 being the record date, bonus shares could not have been credited to your account. May be some other qty. Pls check.
@Raj_A_A They did credit to my account last week, I remember seeing them in the account on Friday morning. Maybe because Thursday was the last trading day last week?
23.12.20 is the Ex bonus date. If you have bought on 23.12.20, the price is only Ex Bonus adjusted price. If it is so, you are not eligible to get Bonus shares.
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I bought my shares immediately after transitioning to main board a few months back. You can see that my buy price is lower than what the price has been in the past two months.
So if 23rd was ex-bonus adjusted then yes the bonus shares did get credited to my account last week. Not sure why this is not the case with the others here
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Thank you all for the valuable response.
Did we need to do anything to be eligible for getting the bonus shares, like filling some application or something else? I didn’t do anything of this sort
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The bonus shares have been converted to regular ISIN and permitted to trade on the exchanges from today.
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This board is cluttered with trivial one liners. Pls do some homework and visit BSE website and see the notifications on VOL page, check your Demat account by visiting CDSL/NDSL site. As VPs, we are expected to contribute meaningfully to enhance the value of the thread instead of worrying about non credit of bonus shares which is of administrative delays, could become regularised in a couple of days. In this digital age, errors are minimal and even if it occurs, you can email the RTA of the respective companies and redress the grievances.
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While researching through the company and reading the annual reports, I found few mismatches in the PPE notes section. Perhaps, someone can verify and let me know if I have missed something or is it genuine carelessness from the company
Snapshot FY 2016-17
snapshot for FY 2017-18
Also, in FY 2018-19, the Notes for PPE is mistakenly same as for FY 2017-18, so such numbers are not available.
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From initial screening looks like the change is due to merger with Amarjyot. In FY18 the consolidated nos for the combined entity are reflected and hence FY17 nos restated
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Q3FY21 results.
Revenue up 27%.Net profit 31.58Cr against 29.59 Cr (Y-O-Y)
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Decent bottom-line growth if you adjust out impact from deferred tax and non-controlling (>30% growth in Profits before taxes and minority contribution)
Do they host earnings call for investors/analysts?
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I am new to the business and still trying to understand revenues how the incremental capacity translates into growth.
a) I am trying to understand what growth does this capacity increases i) translate into and ii) How much time would it take to execute this growth?
b) Any idea on what’s the competitive landscape for this business? They make ROC’s of > 25% in a spec chem business can’t anyone else disrupt the business?
c) On RM as a % to revenues any idea how were they able to save so much cost on Phenol and PNCB in 2020 compared to 2019? Was there any rate decline in these costs or was it just backward integration?
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I’m trying to understand how the company is maintaining its margins even though Aarti Industries offers exactly all their products? How are they not considered to be competing against them? And if not, why/how?
Also, they were early investors in Aarti Industries and hit a 10-15 bagger (back in 2012)
Views or explanations are welcomed and needed for my understanding of business dynamics.
I was looking at their capex figures post bumper FY-19 to estimate the incremental revenue potential post FY19.
- Increase in FA - Gross block in Sep-21 ending vs. FY19 ending - Rs. 168 cr (adjusted for depreciation)
- Increase in CWIP - Rs. 145 crore (Rs. 211 cr - Rs 66 cr)
Rs. 313 crore of capex is sourced from: (rough figures)
- FY20 profits less FY20 dividend = Rs. 125 crore
- 9month FY21 profits = Rs. 93 crore
- Incremental debt (ie. Sep-21 ending debt less FY19 ending debt) = Rs. 101 crore
Seeing at reported numbers, it looks to me that this entire capex is yet to throw revenues. (this an assumption)
Their average fixed asset turnover (for standalone) for last 5 years is about 3.5 times. Even if I discount that by say 40% assuming some of capex goes for backward integration (which should ideally help current PAT margins) and take FAT ratio to be 2, it should translate into ~Rs 600 crore of revenues.
| Mar-11 | Mar-12 | Mar-13 | Mar-14 | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 | AVG - 5YR | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Asset Turnover | 1.20 | 1.24 | 1.23 | 1.14 | 1.49 | 1.28 | 1.07 | 1.25 | 1.51 | 0.95 | 1.21 |
| Fixed Asset Turnover | 2.71 | 3.34 | 3.42 | 3.81 | 5.32 | 4.18 | 2.78 | 3.93 | 4.66 | 2.28 | 3.57 |
How much time will that take for revenues to flow through?
Well, that’s anybody’s guess but looking at their past record of integrating Amarjot and Abhilasha Tex-Chem, I would conservatively assume that time frame to be 2-3 years.
Btw Dec-21 revenues increased by ~30% so above mentioned capex might have already started to flow through to revenues.
Disclosure: Invested, this is not an investment advise. Please do your own research!
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While searching for govt. PLI scheme for PAP, I came across the following document released by GOI.
Looks like PLI for PAP has already been assigned to Meghmani and Sadhana Nitro.
Any ideas what does this mean for Valiant? I was under impression that PAP might be the biggest contributor to their growth going forward.
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- Some latest findings on revenue potential given massive capex…
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Is Meghmani LLP the listed entity or any private holding by promoters?
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