Deep Industries And Shakti Pumps Fund Raise, Teerth Gopicon Order

Deep Industries

Recent filing: (FUND RAISE) Deep Industries said that its Board has approved raising funds up to INR 350 Cr by the way of QIP.

SUMMARY: 4y Operating Profit uptrend | 2q Operating Profit uptrend | PE 25.2x (Sector PE range 10-30) | Excellent Sep-24 Results | JVs | Acquisition | Fund raise | Order Book of INR 2,622 Cr (Sep-24) (5.7x times of TTM Revenue) | Oil & Gas

FUTURE OUTLOOK: As per Q4 FY24 Concall, Company targeting a minimum of 25% revenue growth in FY25, expecting margin improvement in EBITDA from 42% to 45% in FY25.

• MCap of INR 3,489 Crore (share price = INR 545 / share) (as on 30th Dec ‘24)
• TTM PE 25.2x (as on 30th Dec ‘24) Retail float = 16.6% (Sep-24)

FOOD FOR THOUGHT: Majority of orderbook is from ONGC / ONGC-led consortium

Question 1: Who are the promoters of Deep Industries?

Deep Industries Ltd. is specialized in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, and also having expertise in Integrated Project Management Services. It provides various equipment and services under rental and chartered-hire basis.

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Shakti Pumps (India) Ltd.

Recent filing: (FUND RAISE)  Shakti Pumps said it's board of meeting to be held on 7th Jan 2024 to consider fund raise.

SUMMARY: 2y Operating Profit uptrend | 4q Operating Profit uptrend | PE 41.7x (Sector PE range 30-60) | Excellent Sep-24 results | Fund raise | Expanding into EV Mobility through WOS | Promoter Buying | Institutional Entry | Order Book of INR 1,800 Cr (Sep-24) (0.8x times of TTM Revenue) | Solar Pumps | Capital Goods – Non-Electrical Equipment

FUTURE OUTLOOK: As per Q1FY25 Concall, Company expecting revenue growth of around 25% - 30% for next 3 to 4 years | As per Q2FY25 Investor Presentation, Company manufacturing Solar Structures for Solar Panels with capacity of 1,00,000 units per annum, with Capacity Expansion in Progress to Double existing capacities.

• MCap of INR 13,717 Crore (share price = INR 1,141 / share) (as on 30th Dec ‘24)
• TTM PE 41.7x (as on 30th Dec ‘24) Retail float = 23.5% (Sep-24)

FOOD FOR THOUGHT: Company's revenue heavily relies on government tenders in the solar pumps market, with growth tied to government initiatives.

Question 1: Who are the promoters 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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Teerth Gopicon Ltd.

Recent filing: (ORDER) Teerth Gopicon has successfully won the SJVN Limited tender for developing 5,830 kW grid-connected rooftop solar power projects across multiple states, including Delhi, Uttar Pradesh, Madhya Pradesh, Haryana, Gujarat, and Maharashtra. Under the PM Surya Ghar: Muft Bijli Yojna, the project, with a tentative capacity of 5,705 kWp, will be implemented on government buildings within six months of the PPA's effective date.

SUMMARY: 4y Operating Profit uptrend | 3h Operating Profit uptrend | PE 41.4x (Sector PE range 10-50) | Excellent Sep-24 results | Promoter Buying | IPO | Orderbook of INR 1,081 Cr (8th Nov-24) (7.9x of TTM revenue) | Water Infra

FUTURE OUTLOOK: As per Sep-24 Analyst Meet, Company has given a Revenue guidance for FY25 of INR 250-300 Cr (a 2.6x growth) with 13-13.5% PAT margin and a Revenue guidance for FY26 of INR 750-900 Cr with 13.5-14% PAT margin.

• MCap of INR 731 Crore (share price = INR 610 / share) (as on 30th Dec ‘24)
• TTM PE 41.4x (as on 30th Dec ‘24) Retail float = 22.1% (Sep-24)

FOOD FOR THOUGHT: Highly competitive sector

Question 1: Who are the promoters of Teerth Gopicon?

The Company specializes in road construction, sewerage work, and water distribution projects in Madhya Pradesh, and has also subcontracted residential tower construction in Indore. As an EPC contractor, it provides detailed project engineering, procurement of materials and machinery, project execution, and operation and maintenance services.

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