Choice International And Dynamic Cables Good to Excellent Results and Platinum Industries Fund Raise
Choice International Ltd.
Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Sep-24 for Choice International, Sales up 29% YoY from INR 191 Cr in Sep-23 to INR 247 Cr in Sep-24. Similarly, Net Profit up 53% from INR 30 Cr to INR 46 Cr. On a QoQ basis, Sales up 23% and Net Profit up 44%.
(ACQUISITION) Company is acquiring the retail lending businesses of Paisabuddy Finance and Sureworth Financial Services, increasing its AUM by 75% to ₹801 crore. This acquisition boosts its branch network from 71 to 168 locations and employee strength from 536 to 1,180. The move enhances its MSME lending and expands its green finance initiatives across Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh, and Delhi NCR.
SUMMARY: 6y Operating Profit uptrend | 1q Operating Profit uptrend | PE 62.8x (Sector PE range 30-50) | Excellent Sep-24 results | Fund Raise | Promoter buying | Institutional Entry | Geographical expansion | Strategic collaborations | Large Order | Acquisition | Entry into Solar via Subsidiary | Diversified Commercial Services
- Mcap of INR 9,628 Crore (share price = INR 482 / share) (as on 23rd Oct '24)
- TTM PE 62.8x (as on 23rd Oct '24) Retail float = 3.4% (Sep-24)
FOOD FOR THOUGHT: PE is above sector range
Question 2: Who are the promoters of Choice International?
Incorporated in 1992, Choice group provides tech-led financial services. It finds its legacy in resolving financial problems and bridging gaps for individuals, institutions, and governments. It is an integrated and diversified financial services group.
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Platinum Industries Ltd
Recent filing: (FUND RAISE) Board meeting of Platinum Industries to be held on 24th Oct ’24 to consider fund raise.
SUMMARY: 4y Operating Profit uptrend | 2q Operating Profit uptrend | Fund raise | Ace Investor | PE 48.5x (Sector PE range 30-50) | Specialty Chemicals
- MCap of INR 2,406 Crore (share price = INR 438 / share) (as on 23rd Oct ‘24)
- TTM PE 48.5x (as on 23rd Oct ‘24) Retail float = 13.3% (Sep-24)
FOOD FOR THOUGHT: Highly competitive sector.
Question 2: Who are the promoters of Platinum Industries ?
Platinum Industries Limited is a multi-product company operating in the specialty chemicals industry, primarily engaged in manufacturing stabilizers. The company's business segments include PVC stabilizers, CPVC additives, and lubricants, with applications across various products such as PVC pipes, profiles, fittings, electrical wires, cables, SPC floor tiles, rigid PVC foam boards, and packaging materials. As per the CRISIL report, Platinum Industries is the third-largest player in the domestic PVC stabilizer market, holding a 13% market share for the financial year 2022-23.
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Dynamic Cables Ltd.
Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Sep-24 for Dynamic Cable, Sales up 52% YoY from INR 154 Cr in Sep-23 to INR 234 Cr in Sep-24. Similarly, Net Profit up 2.8x from INR 5 Cr to INR 14 Cr. On a QoQ basis, Sales up 12% and Net Profit up 17%.
SUMMARY: 4y Operating Profit uptrend | 1q Operating Profit uptrend | PE 33.1x (Sector PE range 30-60) | Excellent Sep-24 results | Fund raise | Capacity Expansion | Institutional Entry | Wires & Cables
FUTURE OUTLOOK: As per Q1 FY25 Investor Presentation, Company is expanding plant capacity by 20% with a capex outlay of up to INR 35 Cr at the Reengus plant
- MCap of INR 1,551 Crore (share price = INR 640 / share) (as on 23rd Oct ‘24)
- TTM PE 33.1x (as on 23rd Oct ‘24) Retail float = 17.2% (Sep-24)
FOOD FOR THOUGHT: Intense Competition | Volatility in prices of raw material.
Question 2: Who are the promoters of Dynamic Cables?
Dynamic Cables is one of the leading wire and cable manufacturers in India. Since its inception, it has grown its market access and has become one of the most preferred and trusted manufacturer and supplier of cables and conductors for private and government clients globally.
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