Avantel Order, Shakti Pumps Fund Raise And Sanghvi Movers Subsidiary Incorporation

Avantel Ltd.

Recent filing: (ORDER) Avantel has received a purchase order worth INR 2.9 Cr from Bharat Dynamics to be executed before Mar ‘25.

SUMMARY: 3y Operating Profit uptrend | PE 49.1x (Sector PE range 50-100) | Excellent Dec-23 results | Capacity expansion | Ace Investor | Defence

  • MCap of INR 2,461 Crore (share price = INR 101 / share) (as on 26th Mar ‘24)
  • TTM PE 49.1x (as on 26th Mar ‘23) Retail float = 31.8% (Sep-23)

AREAS TO CONSIDER: Revenue concentration (63% from top 3 clients in defence sector and SATCOM industry) | Promoter selling (INR 90L in Feb-24)

What are the products and  services of Avantel?

Established in 1990, Avantel specializes in RF/microwave subsystems, digital radios, and satellite communication systems, and offers related software solutions and services. It supplies mainly to defence establishments and allied departments in the public and private sectors.

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Shakti Pumps (India) Ltd.

Recent filing: (FUND RAISE) Board of Directors of Shakti Pumps approved the issuance and allotment of 16.5L equity shares at INR 1,208/share, aggregating to INR 200 Cr to qualified institutional buyers. Subscribers include DIIs like LIC MF and SBI funds.

SUMMARY: 2q Operating Profit uptrend | PE 45.4x (Sector PE range 30-60) | Fund Raise | Capacity Expansion | Orderbook as of Jan ‘24 stands at INR 2,250 Cr, 2.4x of TTM Revenue | Promoter Buying

  • MCap of INR 2,463 Crore (share price = INR 1,340 / share) (as on 26th Mar ‘24)
  • TTM PE 45.4x (as on 26th Mar ’24) Retail float = 24.5% (Dec-23)

AREAS TO CONSIDER: Consistency of numbers is questionable.

What are the products and  services of Shakti Pumps?

Company is involved in the manufacturing of energy-efficient pumps and motors. Its latest series of new advanced solar energy-operated pumps has emerged as a prestigious brand in domestic and international markets. These pumps are used for a variety of purposes, including cutting and grinding, fire-fighting, managing sewage, and heating and cooling systems.

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Sanghvi Movers Ltd.

Recent filing: (SUBSIDIARY INCORPORATION) Sanghvi Movers has incorporated a new wholly owned subsidiary named Sangreen Renewables Private to carry on the business related to providing full- fledged turnkey services to Independent Power Producers (IPP), right from the conceptualization to commissioning of wind turbine generator (WTG).

SUMMARY: 3y Operating Profit uptrend | 7q Operating Profit uptrend | PE 31.3x (Sector PE range 30-60) | Excellent Dec-23 results | Capital Goods

  • MCap of INR 5,453 Crore (share price = INR 1,259 / share) (as on 26th Mar ‘24)
  • TTM PE of 31.3x (as on 26th Mar ‘24) Retail float = 26.7% (Dec-23)

AREAS TO CONSIDER: Revenue concentration (49% from Wind Mill for 9mFY24)

What are the products and  services of Sanghvi Movers?

Sanghvi Movers Limited (SML) is the largest crane rental company in India and Asia. Company has a fleet of 400+ medium to large sized heavy-duty telescopic and crawler cranes ranging from 20 to 1000 MT across 130+ operational job sites in India. Its fleet is primarily catered for the construction of various industrial plants like Power, Steel, Cement, Fertilizers, Petrochemicals & Refineries, Metros (underground as well as elevated) and Windmill sector.

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