Marine Electricals Capacity Expansion, Transformers & Rectifiers Block Deal And KPI Green Energy Order
Marine Electricals (India) Ltd.
Recent filing: (CAPACITY EXPANSION) Marine Electricals has opened 5th plant Situated at NDR Goaspace private limited, Goa, which will increase manufacturing footprint by 20%. This facility will enhance the capacity for LV/MV switchboards, to produce new solutions, and speed up deliveries to esteemed customers.
SUMMARY: 6y Operating Profit uptrend | PE 109x (Sector PE range 30-70) | Fund raise | Capacity Expansion | Capital goods – Electrical equipments
- MCap of INR 3,140 Crore (share price = INR 237 / share) (as on 15th Oct ‘24)
- TTM PE 109x (as on 15th Oct ‘24) Retail float = 18.2%(Jun-24)
FOOD FOR THOUGHT: PE is above sector range | Negative Operating cash flow for FY24
Q1. What are the Products and Services offered by Marine Electricals (India) Ltd?
Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. It is into marine, industrial and renewable energy solutions.
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Transformers & Rectifiers (India) Ltd.
Recent filing: (BLOCK DEAL) Stallion Asset Private Limited bought 4L shares, Pgim Jennison Emerging Markets Equity Opportunities Fund bought 6L shares, Pgim Jennison Emerging Markets Equity Fund bought 67k shares, New York State Teachers Retirement System bought 13.6L shares, Societe Generale bought 2.4L shares, aand Advanced Series Trust Ast Prudential Growth Allocation Portfolio bought 0.25L shares of Transformers & Rectifiers at INR 780/share, aggregating to INR 211 Cr from Jitendra Ujamsi Mamtora (promoter).
SUMMARY: 5y Operating Profit uptrend | 1q Operating Profit uptrend | PE 107x (Sector PE range 30-70) | Excellent Sep-24 results | Fund raise | Institutional Entry | Ace Investor | Orderbook of INR 3,500 Cr (Sep-24) (2x of TTM revenue) | Capital Goods - Electrical Equipment
FUTURE OUTLOOK: As per Q1FY25 Concall and Investor Presentation, Company Revenue targets for FY25 remain unchanged at INR 2,000 Cr, with EBITDA margins expected to be around 14% and over the next 2-3 years, management targets standalone revenue growth to reach INR 4,500 Cr to 5,000 Cr with EBITDA margins of 16% to 17%. Company unexecuted order book as of 30th June 2024 stands at INR 2,926 Cr and have inquiries about 17,500 Cr under negotiation and meeting stage Company ultimate aim is to transform into a debt-free Company in the near future.
- MCap of INR 12,873 Crore (share price = INR 858 / share) (as on 15th Oct 2024)
- TTM PE 107x (as on 15th Oct 2024) Retail float = 14.3% (Sep-24)
FOOD FOR THOUGHT: PE is above sector range.
Q1. What are the Products and Services offered by Transformers & Rectifiers ?
Transformers & Rectifiers (India) Ltd. is a leading manufacturer of transformers up to 1,200 kV class. It manufactures a wide range of transformers like power and distribution transformers, furnace transformers, rectifier transformers and special transformers. It has a technical collaboration with Fuji, Japan for 400/765 kV reactors and 400 kV generator transformer. It has a diversified customer base in India with international presence in over 25 countries.
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KPI Green Energy Ltd.
Recent filing: (ORDER) KPI Green Energy has signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 620 MWAC (917 MWDC) renewable energy projects, including a 250 MWAC solar photovoltaic project and a 370 MWAC hybrid renewable energy project, both with Greenshoe options for additional capacity upto 500 MW without energy storage. The company aims to achieve a 10 GW renewable energy capacity by 2030.
SUMMARY: 6y Operating Profit uptrend | 1q Operating Profit uptrend | PE 53.9x (Sector PE range 50-90) | Excellent Jun-24 results | Fund raise | Large Order | Geographical Expansion | Institutional entry | Promoter buying | Solar | Clean Energy
FUTURE OUTLOOK: As per Q1FY25 Investor Presentation, Company has 2.3+GW of orders in hand, and has ambitious target of 10+GW IN 2030.
- MCap of INR 10,565 Crore (share price = INR 805 / share) (as on 15th Oct ‘24)
- TTM PE 53.9x (as on 15th Oct ‘24) Retail float = 21.4% (Jul-24)
FOOF FOR THOUGHT: Negative operating cash flow for FY24.
Q1. What are the Products and Services offered by KPI Green Energy?
Incorporated in 2002, KPI Green develops, builds, owns, operates, and maintains solar power plants through Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP) under the brand name of 'Solarism'.