November 25, 2015

Caplin Point- Technical Update


Caplin point chart update:

It appears to be the BO for Caplin point and may try to test its previous high of 1600++

If in any doubt can wait for today's closing for confirmation.

Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”


Disclosure: It is safe to assume that I have the stock in my portfolio/trading position and hence my point of view will be biased. Readers should consult their financial advisory before any investments.

November 23, 2015

Caplin Point: Some questions for the management

Recently, I have sent a mail to Caplin Point Investor mail id investor@caplinpoint.net

Seeking information on following points and awaiting a reply.

1. The company is a govt approved star export house and all income of the company are derived through exports. In light of the above information, how the tax on the income is getting calculated , as per my limited information the your's 100% EOU thus ideally their should not be any taxes on the company accounts.
So, the taxes paid by the company on income is MAT or some thing else, please part with the information.

2. In April the Company signed agreements for ANDA with two firms and confirmed that the company has also received the first milestone payment from both the counter parties.

However, I could not find any information on financial aspect of any of the deals either in the results sections for both 30th June 2015 and 30th September 2015 nor in the Annual report for FY 2014-15.

Can you please share more information on the subject?

3. Does the company has any growth projection for next 3-5 years wrt Revenues and Profits?


Not part of mail:

MAT is 18.5% of the total income even for 100% EOU's. How come, the company is paying more taxes?

Source: http://www.indiafilings.com/learn/what-is-minimum-alternate-tax-mat/

Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”


Disclosure: It is safe to assume that I might have the stock in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.

DCB Bank - Management Update on 30th October 2015

DCB Bank update:

Plan of action:
1. Doubling balance sheet size in next 36 months from the base of ~Rs16000 crores
2. Adding 150 branches over next 24 months instead of 12 months planned earlier.
3. Cost to income ration not to rise above 66.3%
Targets:
1. ROE of 14%+ by FY19
2. Cost/Income ratio of ~55% by FY19

Source:
Company announcement: http://www.bseindia.com/corporates/anndet_new.aspx?newsid=fbc1253e-c95e-44bc-8bdc-da25600731a8
Investor presentation: http://corporates.bseindia.com/xml-data/corpfiling/AttachHis/48BC7F77_B937_4DFB_AEF1_F1B8740DCDB4_170112.pdf

Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”


Disclosure: It is safe to assume that I might have the stock in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.

November 06, 2015

Result update: NGL Fine Chem Sep15

Result update for NGL Fine Chem for Sep 15

Highlights:

YoY:
Revenue down 1% (YoY)
Operating profit (PBDT) up 26% (YoY)
Net profit/EPS up 12% (YoY)

QoQ
Revenue down 7% (QoQ)
Operating profit (PBDT) up 5% (QoQ)
Net profit/EPS up 8% (QoQ)

Change in shareholding pattern:

YoY: Promoters holding up 5% from 62.86% to 66.09%
QoQ: Promoters holding up 2% from 64.55% to 66.09%

Last 12 months eps is Rs 15.68 and current market price of Rs240 leading to PE of 15.3

Company is working in niche area of animal pharma. The stock is up almost 5 times in last 1 year. I am long past a decade now.

All in all its looks a good long term bet for me.

https://docs.google.com/spreadsheets/d/1EsA4D0Gr4ythn_V5J0WeKx4SktXnF5tWN26nChTaI1s/edit?usp=sharing


Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”


Disclosure: It is safe to assume that I might have the stock in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.

Caplin Point Result Update Sep 15

Result update for Caplin Point for Sep 15

Highlights:

YoY:
Revenue up 38.8% (YoY)
Operating profit (PBDT) up 80.29% (YoY)
Net profit/EPS up 66.67% (YoY)

QoQ
Revenue up 11.74% (QoQ)
Operating profit (PBDT) up 10.76% (QoQ)
Net profit/EPS up 11.9% (QoQ)

Change in shareholding pattern:

YoY: Over all Institutions holding up 3900% from 0.08% of the equity to 3.2% of the equity. In this FII's have increased the stake from NIL last year to 3.11% of the equity this year.

QoQ: Over all Institutions holding up 76% from 1.82% of the equity to 3.2% of the equity. In this FII's have increased the stake by 76% from 1.7% last qtr to 3.11% of the equity in this qtr.

The company is consistently beating its guidance of 25% of top line and bottom line growth.

Last 12 months eps is Rs 30.84 and current market price of Rs1299 leading to PE of 42.12

In No way the stock can be considered cheap but given the historical PE ratio's of in excess of 60 found recently, the stock is trading at almost 50% discount. The results are yet to reflect the impact of diversification in to new Geographies and new products.

All in all its looks a good long term bet for me.

https://docs.google.com/spreadsheets/d/1qRAbQILXnzHwORHlv87Xq6yLNqPz-yw2lDvx2_RZpMU/edit?usp=sharing


Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”


Disclosure: It is safe to assume that I might have the stock in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.