Crown Lifters Order, Salzer Electronics Aggressive Hiring And Techera Engineering Acquisition

Crown Lifters Ltd.

Recent filing: (ORDER) Crown Lifters has placed order for two Brand new 150 MT crawler crane, with an expected delivery by mid October 2024, from Mumbai, Maharashtra. The contracts for both cranes have already been secured in advance with one assigned to Ultratech Cement Ltd, and the other to Arcelormittal Nippon Steel India. With an estimated total purchase value of INR 7 Cr, this brings Company’s total crane capex for the current financial year to approximately INR 43 Cr till date.

SUMMARY: 2y Operating Profit uptrend | PE 44.8x (Sector PE range 30-60) | Fund Raise | Capital Goods – Non-Electrical Equipment

• MCap of INR 273 Crore (share price = INR 243 / share) (as on 10th Oct ‘24)
• TTM PE 44.8x (as on 10th Oct ‘24) Retail float = 13.3% (Sep-24)

FOOD FOR THOUGHT: Investor Roshni Ali Somji reduced her stake from 2.9% in Sep-23 to less than 1% (can be 0%) in Mar-24

Q1. What are the Products and Services offered by Crown Lifters?

Company specializes in providing construction equipment, including items such as crawler lattice booms, crawler telescopic booms, all-terrain cranes, rough-terrain cranes, aerial platforms, piling rigs etc.

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Salzer Electronics Ltd.

Recent filing: (AGGRESSIVE HIRING) Employee count on the EPFO portal increased by 45%, rising from 247 in April to 359 in August 2024.

SUMMARY: 4y Operating Profit uptrend | 6q Operating Profit uptrend | PE 40.2x (Sector PE range 30-60) | Excellent Jun-24 results | New product line | Fund raise | Capacity expansion | Ace Investor | Aggressive Hiring | Promoter buying | Capital goods (Electrical Equipment) | Railways

FUTURE OUTLOOK: As per Q1FY25 Concall, Company is expecting revenue growth of 18% to 23%, and is targeting EBITDA margin improvement by 100 basis points to 10.5% to 11% for FY25. Company is expecting revenue of INR 1,000 Cr, from Smart Meters at full capacity utilization.

• MCap of INR 1,895 Crore (share price = INR 1,072 / share) (as on 10th Oct ’24)
• TTM PE 40.2x (as on 10th Oct ’24) Retail float = 36.8% (Jun-24)

FOOD FOR THOUGHT:  FIIs have reduced stake from 6.1% in Sep-23 to 2.8% in Jun-24.

Q1. What are the Products and Services offered by Salzer Electronics?

Established in 1985 with German collaboration for Cam operated Rotary switches, Salzer Electronics is the largest Rotary switch manufacturers and suppliers in India having more than 40% market share and serving to all segments in India. The Company has complete range of Cam Operated Rotary switches from 6 Amps to 400 Amps and Rotary switch suppliers to Indian Railways.

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Techera Engineering Ltd

Recent filing: (ACQUISITION) Techera Engineering has acquired additional equity shares in Kalbhorz Electric Private Limited (KEPL), a company engaged in manufacturing, marketing, distributing, and trading electronic parts and appliances for industries like aerospace, defense, robotics, marine, and aircraft components. KEPL's FY24 revenue stands at INR 6.5 lakhs. 

Under the subscription agreement, TehcEra had already acquired 505 shares in the first tranche and 1,258 in the second tranche, holding 11.91% of KEPL. Now, with the purchase of 2,823 more shares at Rs. 4,726 per share, its total holding has increased to 4,586 shares, raising its stake to 26.02%.

SUMMARY: 2y Operating Profit uptrend | PE 57.4x (Sector PE range 50-100) | IPO | Acquisition | Defense

• MCap of INR 276 Crore (share price = INR 167 / share) (as on 10th Oct ‘24)
• TTM PE 57.4x (as on 10th Oct ‘24) Retail float = NAFOOD FOR THOUGHT: Vikasa India Fund sold INR 1.2 Cr worth of shares.

Q1. What are the Products and Services offered by Techera Engineering?

Company operates in the Aerospace, Defense and Automation sector in India, contributing to the country’s technological advancements and national security. With core focus on manufacturing, Company plays a crucial role in producing high-quality components and systems that meet the demanding standards of the Aerospace & Defence industries.

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