Emerald Finance Good to Excellent Results, Titagarh Rail Systems Major Delivery And Dynamic Services & Security MoU
Emerald Finance
Recent filing: (GOOD TO EXCELLENT RESULT) For the quarter ending Dec-24 for Emerald Finance, Sales up 67% YoY from INR 3.42 Cr in Dec-23 to INR 5.72 Cr in Dec-24. Similarly, Net Profit up 2.1x from INR 1.19 Cr to INR 2.48 Cr. On a QoQ basis, Sales up 14% and Net Profit up 20%.
SUMMARY: 6y Operating Profit uptrend | 6q Operating Profit uptrend | PE 56.7x (Sector PE range 20-40) | Excellent Dec-24 results | Strategic Partnerships | Fund Raise | Institutional entry | NBFC
FUTURE OUTLOOK: As per Q2FY24 Concall, Company anticipates its PAT to grow by 8 to 10 times over the next three years.
- MCap of INR 419 Crore (share price = INR 124 / share) (as on 7th Jan ‘24)
- TTM PE 56.7x (as on 7th Jan ‘24) Retail float = 9.7% (Sep-24)
FOOD FOR THOUGHT: MSME loan default risk.
Question 1: Who are the promoters of Emerald Finance?
Incorporated in 1983, Company’s business model is centered around granting of loans & advances. As an NBFC, it provides loans to customers. Company is also engaged in providing ultra short-term loans (tenor up to 15 days) with a ticket size ranging from INR 1,000 to INR 20,000 targeting youth salaried individuals.
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Titagarh Rail Systems Ltd.
Recent filing: (MAJOR DELIVERY) Titagarh Rail Systems has officially handed over its first driverless, Made-in-India trainset to Bengaluru Metro Rail Corporation (BMRCL) for the Yellow Line. This stainless steel, automated trainset is the first passenger rolling stock made in India to operate on the crucial 18-km stretch, connecting the Electronics City technology and business hub to the rest of the city. These milestones highlight the company's strong commitment to enhancing urban mobility in India and demonstrate its expanding manufacturing capabilities and innovative approach in the railway sector.
SUMMARY: 5y Operating Profit uptrend | 1q Operating Profit uptrend | PE 49.7x (Sector PE range 40-70) | Fund raise | Institutional entry | New Products | Capacity Expansion | Partnerships | Orderbook of INR 12,207 Cr (Sep-24) (3.1x of TTM revenue) | Railways
- MCap of INR 15,106 Crore (share price = INR 1,122 / share) (as on 7th Jan ‘24)
- TTM PE 49.7x (as on 7th Jan ‘24) Retail float = 24.6% (Sep-24)
FOOD FOR THOUGHT: Risk of price fluctuations in key raw materials (steel and related products)
Question 1: Who are the promoters of Titagarh Rail Systems?
Company caters to passenger rolling stock including trains range expands to include electric propulsion equipment such as traction motors and vehicle control systems. Titagarh also designs and manufactures wagons such as container flats grain hoppers, cement wagons, clinker wagons tank wagons.
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Dynamic Services & Security Ltd.
Recent filing: (MoU) Dynamic Services has entered into a Memorandum of Understanding (MOU) with Orion Security Solution Private Limited for a work contract worth INR 476 crore. This MOU outlines the terms and conditions under which Dynamic Services & Security Limited (DSSL) will assist Orion Security Solutions Private Limited in collecting receivables from clients. It also covers the processes for invoicing, payment collection, payment distribution, and reimbursement of expenses, effective from January 4, 2025, to March 31, 2027.
SUMMARY: 2y Operating Profit uptrend | 3h Operating Profit uptrend | PE 44.8x (Sector PE range 50-90) | Excellent Sep-24 results | Acquisition | Ace Investor | Fund Raise | Promoter Buying | Solar | Clean Energy
- MCap of INR 514 Crore (share price = INR 374 / share) (as on 7th Jan ‘24)
- TTM PE 44.8x (as on 7th Jan ‘24) Retail float = 16.2% (Sep-24)
FOOD FOR THOUGHT: Negative operating cash flows for FY24.
Question 1: Who are the promoters of Dynamic Services & Security?
Founded in 2001, Dynamic Services Security is engaged in the business of mechanized cleaning, conservancy, housekeeping, and catering services. The company offers security guarding and manpower solutions to various government agencies, including the Indian Army, Indian Navy, and Indian Railways. Recently, company has expanded into the solar energy sector, currently working on a 720KW project in Kakdwip, West Bengal, marking its shift towards green energy initiatives.