Bondada Engineering Order, Viviana Power Tech Fund Raise And Jupiter Wagons Certification

Bondada Engineering Ltd.

Recent filing: (ORDER) Bondada Engineering has received a work order worth INR 14.6 Cr for Installation & Commissioning work of solar power plants and supply of Wattpower Inverter at Jambusar, Gujrat from Goldi Solar Private Limited.

SUMMARY: 3y Operating Profit uptrend | PE 140x (Sector PE range 30-50) | Excellent Mar-24 results | Fund Raise | Large Order | 5G+Solar Infrastructure

FUTURE OUTLOOK: As on 31st Mar 2024, Orderbook = INR 1,747 Cr, Orders in pipeline = INR 1,260 Cr

  • MCap of INR 6,265 Crore (share price = INR 2,900 / share) (as on 21st Jun ‘24)
  • TTM PE of 140x (as on 21st Jun ‘24) Retail float = 16.4% (Mar-24)

FOOD FOR THOUGHT: PE multiple is above sector range

What are the products and services of Bondada Engineering ?

Bondada is an infrastructure company that specializes in offering engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to clients in the telecom and solar energy sectors across India. Its expertise encompasses core design and engineering, with a focus on passive telecom infrastructure services such as construction, operation and maintenance of telecom towers, optical fiber cables and related infrastructure.

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Viviana Power Tech Ltd.

Recent filing: (FUND RAISE) BoD of Viviana Power Tech has approved the issuance of 3.1L shares at INR 625/share, aggregating to INR 19.3 Cr and 52k warrants at INR 625/warrant, aggregating to INR 3.2 Cr.

SUMMARY: 3y Operating Profit uptrend | 3h Operating Profit uptrend | PE 81.5x (Sector PE range 30-60) | Excellent Mar-24 results | Fund raise | Capital Goods

FUTURE OUTLOOK: Please read the Future Visibility part.

  • MCap of INR 529 Crore (share price = INR 886 / share) (as on 21st Jun ‘24)
  • TTM PE 81.5x (as on 21st Jun ‘24) Retail float = 18.3% (Mar-24)

FOOD FOR THOUGHT: Negative Operating cash flow for FY24 | PE is above sector range.

What are the products and services of Viviana Power Tech?

Viviana Power Tech Ltd. operates in the Power Transmission, Distribution and Industrial EPC space. Within the span of about five years, Viviana has completed 40 projects (Contracts worth INR 40+ Crores). The projects include ±500 KV HVDC and 400/ 220/ 132/ 66/ 33 KV Transmission lines/ Sub Stations of private and Government utilities and industries. It also undertakes turnkey jobs for Supply, Erection, Testing & Commissioning of all types of Electrical system.

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Jupiter Wagons Ltd.

Recent filing: (CERTIFICATION, CONTRACT WIN, TECHNICAL QUALIFICATION) Jupiter Electric Mobility, a subsidiary of Jupiter Wagons, in partnership with Log9 Materials, announced key milestones in LFP battery technology for Indian rail transport. 

Achievements include RDSO certification for rail coach batteries, a contract with Siemens for auxiliary batteries for Vande Bharat trains, and technical qualification by BHEL, highlighting the batteries' efficiency, safety, and reliability.

FUTURE OUTLOOK: Orderbook INR 7,102 Cr as of Mar 2024 (1.9x of TTM Revenue)

  • MCap of INR 28,694 Crore (share price = INR 696 / share) (as on 21st Jun ‘24)
  • TTM PE of 86.2x (as on 21st Jun ‘24) Retail float = 7.9% (Mar-24)

FOOD FOR THOUGHT: Steel and related products serve as raw materials, and their prices are volatile, potentially impacting margins | PE is above sector range.

What are the products and services of Jupiter Wagons ?

Jupiter Wagons is complete transportation solutions engineer and one of the fastest growing in India's railway sector. It is one of few players in India's railway wagons sector with a captive foundry, one of the highest capacity complements and India's largest manufacturer of 25 tonnes wagons.

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