Genus Power Infrastructure And Anant Raj Good to Excellent Results, Zen Technologies Excellent Results

Genus Power Infrastructure Ltd.

Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for Genus Power Infrastructure, Sales up 59% YoY from INR 261 Cr in Jun-23 to INR 414 Cr in Jun-24. Similarly, Net Profit up 2.1x from INR 23 Cr to INR 48 Cr. On a QoQ basis, Sales down 1% and Net Profit up 2x.

SUMMARY: 3y Operating Profit uptrend | 3q Operating Profit uptrend | Excellent Jun-24 results | PE 101x (Sector PE range 30-70) | Partnerships | Fund raise | Ace Investor | Smart Meter

FUTURE OUTLOOK: As per Q4FY24 Concall, Company expects to record total revenue of about INR 2,500 Cr in FY25 and margin guidance of 15%-16% | Q1 FY25 Orderbook of INR 21,000 Cr and these Concessions are for 8-10 years.

• MCap of INR 11,309 Crore (share price = INR 372 / share) (as on 29th Jul ‘24)
• TTM PE of 101x (as on 29th Jul ‘24) Retail float = 12.4% (Jun-24)

FOOD FOR THOUGHT: PE is above sector range.

Q1. What are the Products and Services offered by Genus Power Infrastructure ?

Genus Power Infrastructure Limited has two business divisions offering highly innovative and sustainable solutions to the power sector. The products and solutions provided by the company includes Metering, Engineering, Construction & Contracts and Hybrid Microcircuits.

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Anant Raj Ltd.

Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for Anant Raj, Sales up 49% YoY from INR 316 Cr in Jun-23 to INR 472 Cr in Jun-24. Similarly, Net Profit up 82% from INR 50 Cr to INR 91 Cr. On a QoQ basis, Sales up 7% and Net Profit up 8%.

SUMMARY: 4y Operating Profit uptrend | 4q Operating Profit uptrend | Excellent Jun-24 results | PE 63.3x (Sector PE range 30-40) | Fund raise | Partnerships | Institutional entry | Data Center | Realty

• MCap of INR 19,016 Crore (share price = INR 556 / share) (as on 29th Jul ‘24)
• TTM PE of 63.3x (as on 29th Jul ‘24) Retail float = 8.5% (Jun-24)

FOOD FOR THOUGHT: PE is above sector range.

Q2. What are the Products and Services offered by Anant Raj?

Anant Raj Limited is one of the largest real estate developers in Delhi and NCR Region. It has taken substantial projects from DDA and other governmental departments. Its diverse range of businesses encompasses various ventures, including Residential Townships, Group Housing, Commercial Developments, IT parks, Malls, Office Complexes, Affordable Housing, Hospitality and Data Centers.

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Zen Technologies Ltd.

Recent filing: (EXCELLENT RESULTS) For the quarter ending Jun-24 for Zen Technologies, Sales up 93% YoY from INR 132 Cr in Jun-23 to INR 255 Cr in Jun-24. Similarly, Net Profit up 65% from INR 48 Cr to INR 79 Cr. On a QoQ basis, Sales up 81% and Net Profit up 2.1x.

SUMMARY: 3y Operating Profit uptrend | 3q Operating Profit uptrend | PE 88.0x (Sector PE range 50-100) | Excellent Jun-24 results | Capacity expansion | New Products | Institutional entry | Fund raise | Defence

FUTURE OUTLOOK: As per Q1FY25 Management guidance, Company targeting to exceed turnover of INR 900 Cr in FY25, 100% increase from FY24. | Orderbook INR 1,159 Cr as of 30th Jun 2024 (2.1x of TTM Revenue) and as per FY24 Concall, Management assured that 35% EBITDA and 25% PAT to achieve in FY25.

• MCap of INR 13,523 Crore (share price = INR 1,608 / share) (as on 29th Jul ‘24)
• TTM PE 88.0x (as on 29th Jul ‘24) Retail float = 30.6% (Jun-24)

FOOD FOR THOUGHT: Company is exposed to risks in tender-based operations.

Q3. What are the Products and Services offered by Zen Technologies?

Incorporated in 1996, Zen Technologies designs, develops and manufactures combat training solutions for the training of defense and security forces. It is actively involved in the indigenization of technologies, which are beneficial to Indian armed forces, state police forces, and paramilitary forces.

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