Sovrenn Daily News - 28th Mar 2025
ABS Marine Services Ltd.
Recent filing: (ORDER) ABS Marine has commenced a contract worth INR 28 Cr (tenure of 184 days plus 30 days) with ONGC for the charter hire of a DP-2 Platform Supply Vessel.
(CONTRACT) Company has entered into a contract to acquire a Dynamic Positioning (DP2) Offshore Supply Vessel. The vessel is expected to join the company's fleet in the first quarter of the FY26.
SUMMARY: 5y Operating Profit uptrend | PE 11x (Sector PE range 30-50) | IPO | Marine Services
- MCap of INR 231 Crore (share price = INR 94.1 / share) (as on 28th Mar ‘25)
- TTM PE 11x (as on 28th Mar ‘25) Retail float = 19.8% (Sep-24)
FOOD FOR THOUGHT: Highly competitive sector.
Stock price can go down or up based on market forces. Always diversify your portfolio.
Company Description: Headquartered in Chennai, the company specializes in ship management, ship owning, marine services, and port services. With a team of 50 qualified professionals, ABS Marine Services operates internationally, with offices in Mumbai, Kochi, Kakinada, and Singapore, offering valuable local expertise to enhance operational efficiency and facilitate negotiations across diverse regulatory environments.
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Gravita India Ltd.
Recent filing: (ACQUISITION) Gravita India has completed the acquisition of a Rubber Recycling plant in Romania through a special purpose vehicle (SPV), where its step-down subsidiary Gravita Netherlands BV (GNBV) holds an 80% stake with management control, while the remaining equity is held by Romanian partners. The total investment is INR 40 Cr, with GNBV contributing INR 32 Cr. The plant has a capacity of 18,000 MTPA.
(TAX DEMAND) Company has received an INR 41.5 Cr income tax demand (INR 30.0 Cr tax + INR 11.5 Cr interest) for AY23 under Section 156 of the Income Tax Act, 1961, due to a mismatch in sales reported in GSTR-1 and IT department records, along with the disallowance of loss on commodity forward contracts. Believing the demand is not maintainable, the company plans to appeal before NFAC Delhi, seek a stay from the High Pitch Demand Committee, and file a rectification application. No penalties or restrictions have been imposed, and the company does not foresee any material financial impact.
SUMMARY: 2y Operating Profit uptrend | 1q Operating Profit uptrend | PE 47.3x (Sector PE range 30-50) | Excellent Dec-24 results | Institutional Entry | Acquisition | Capacity expansion | Sustainability and Recycling
FUTURE OUTLOOK: As per Q1FY25 Concall, Company is guiding for a 25% volume growth and a 35% profit growth on a CAGR basis as well as targeting around 60% to 70% capacity utilization for FY25.
- MCap of INR 13,534 Crore (share price = INR 1,834 / share) (as on 28th Mar ‘25)
- TTM PE 47.3x (as on 28th Mar ‘25) Retail float = 15.1% (Dec-24)
FOOD FOR THOUGHT: Highly competitive sector.
Stock price can go down or up based on market forces. Always diversify your portfolio.
Company Description: Established in 1992, Gravita is one of the largest recyclers of non-ferrous metals in India. It has diversified into Manufacturing, International Trade, Turnkey Solutions in nonferrous metals, Plastics industry and in Information Technology. It has its offices and plants in India, USA, Singapore, Netherland, Sri Lanka, Ghana, Mozambique, Senegal, Tanzania, Jamaica, Mali, Mauritania, and Nicaragua.
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Ramkrishna Forgings Ltd.
Recent filing: (CAPACITY EXPANSION) Ramkrishna Forgings has commenced commercial production of National 5” Upsetter and Defris 2½” Upsetter at its Dugni facility, increasing production capacity by 14,250 MT per annum. The company's total capacity now stands at 2,43,400 MT (Hot & Warm Forgings) and 25,000 MT (Cold Forgings). The expansion, costing INR 40.9 Cr, was funded through a mix of equity and debt. Existing capacity utilization stood at 87.22% as of Dec 31, 2024.
(AMALGAMATION) NCLT Kolkata has approved the amalgamation of ACIL(wholly owned subsidiary) with Company.
SUMMARY: 5y Operating Profit uptrend | 2q Operating Profit uptrend | PE 37.4x (Sector PE range 30-50) | Fund raise | Capacity expansion | Acquisition | Geographical expansion | Promoter buying | Railways
- MCap of INR 14,233 Crore (share price = INR 786 / share) (as on 28th Mar ‘25)
- TTM PE 37.4x (as on 28th Mar ‘25) Retail float = 10.1% (Dec-24)
FOOD FOR THOUGHT: Exposed to the cyclicality inherent in commercial vehicle and steel industries
Company Description: Ramkrishna Forgings is involved in the manufacturing & sale of forged components of automobiles, railway wagons & coaches and engineering parts. It is a supplier to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, Earth Moving & Mining, both in India & overseas.
