Patel Engineering Order, BLS International And S J Logistics (India) Good to Excellent Results
Patel Engineering Ltd.
Recent filing: (ORDER) Patel Engineering along with JV partner has been declared lowest bidder (L1) for an irrigation project worth INR 318 Cr from office of the executive engineer, Govt. of Maharashtra. Company’s share is INR 111 Cr. Project is to be completed over 2y.
SUMMARY: 4y Operating Profit uptrend | 2q Operating Profit uptrend | PE 21.1x (Sector PE range 20-50) | Excellent Mar-24 results | Fund Raise | Institutional Entry | EPC
FUTURE OUTLOOK: As per FY24 Concall, Company is expecting revenue growth of 10% to 15% in the coming year | Company has an Order book position of INR 18,600 Cr as of March 31, 2024 | Company also anticipating a higher growth rate of at least 20% to 25% in FY26 due to new orders expected to be received in FY25.
- MCap of INR 4,672 Crore (share price = 55.3 INR / share) (as on 6th Aug ‘24)
- TTM PE 21.1x (as on 6th Aug ‘24) Retail float = 34% (Jun-24)
FOOD FOR THOUGHT: High working capital intensity (NWC/OI = 48% as of Mar-23), given considerable portion of receivables / work in progress is stuck in arbitration or under claims pending with the clients.
Q1. What are the Products and Services offered by Patel Engineering?
Patel Engineering Limited, founded in 1949, is one of the major Infrastructure and Construction service company in India. It has a breadth of experience encompassing all sectors of infrastructure industry from dams, tunnels, micro-runnels, hydroelectric projects, highways, roads, bridges, railways, refineries to real estate and township.
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BLS International Ltd.
Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for BLS International Services, Sales up 29% YoY from INR 383 Cr in Jun-23 to INR 493 Cr in Jun-24. Similarly, Net Profit up 69% from INR 71 Cr to INR 120 Cr. On a QoQ basis, Sales up 10% and Net Profit up 41%.
SUMMARY: 4y Operating Profit uptrend | 7q Operating Profit uptrend | PE 45.1x (Sector PE range 30-60) | Excellent Jun-24 results | Partnerships | Promoter Buying | Institutional Entry | Travel Services
- MCap of INR 16,138 Crore (share price = INR 392 / share) (as on 6th Aug ‘24)
- TTM PE 45.1x (as on 6th Aug ‘24) Retail float = 10.3% (Jun-24)
FOOD FOR THOUGHT: Diwakar Aggarwal (Promoter) has reduced stake from 8.5% in Mar-23 to 5.8% in Jun-24.
Q1. What are the Products and Services offered by BLS International?
BLS International Limited is a globally trusted and highly esteemed tech-enabled service partner for governments and citizens. The company has established itself as one of the top 2 players in the field of visa, passport, consular, and citizen services. Since its establishment in 2005, BLS International has been setting industry benchmarks and delivering comprehensive solutions in various areas, including e-governance, attestation, biometrics, e-visa, and retail services.
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S J Logistics (India) Ltd.
Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for S J Logistics, Sales up 13% QoQ from INR 89 Cr in Mar-23 to INR 101 Cr in Jun-24. Similarly, Net Profit up 50% from INR 7.1 Cr to INR 10.7 Cr.
SUMMARY: 3y Operating Profit uptrend | PE 36.6x (Sector PE range 10-40) | Excellent Jun-24 results | Ace Investor | Institutional Entry | Logistics
- MCap of INR 828 Crore (share price = INR 572/share) (as on 6th Aug ‘24)
- TTM PE of 36.6x (as on 6th Aug ‘24) Retail float = 20.7% (Jun ‘24)
FOOD FOR THOUGHT: Highly competitive sector.
Q1. What are the Products and Services offered by S J Logistics (India)?
The Company specializes in logistics and supply chain solutions, offering services like freight forwarding, custom clearance, and transportation handling.