Sovrenn Daily News - 5th Feb 2024

Balu Forge Industries Ltd.

Recent filing: (EXCELLENT RESULTS) For the quarter ending Dec-23, Sales up 65% YoY from INR 89 Cr in Dec-22 to INR 147 Cr in Dec-23. Similarly, Net Profit up 2.3x from INR 11 Cr to INR 25 Cr. On a QoQ basis, Sales up 6% and Net Profit up 9%

SUMMARY: 3y Operating Profit uptrend | 6q Operating Profit uptrend | PE 37.4x (Sector PE range 30-50) | Excellent Dec-23 results | Capacity expansion | Fund raise | Ace Investor | Institutional Entry

  • MCap of INR 3,014 Crore (share price = INR 294 / share) (as on 5th Feb ‘24)
  • TTM PE 37.4x (as on 5th Feb ‘24) Retail float = 7.0% (Dec-23)

Balu Forge Industries: Company Description

Balu Forge Industries Company is engaged in the manufacturing of fully finished and semi-finished crankshafts and forged components. It has the capability to manufacture components conforming to both New Emission Regulations & the New Energy Vehicles.

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Titagarh Rail Systems Ltd.

Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Dec-23, Sales up 25% YoY from INR 766 Cr in Dec-22 to INR 955 Cr in Dec-23. Similarly, Net Profit up 2.3x from INR 33 Cr to INR 75 Cr. On a QoQ basis, Sales up 2% and Net Profit up 6%.

SUMMARY: 6y Operating Profit uptrend | PE 54.3x (Sector PE range 40-70) | Excellent Dec-23 results | Fund raise | Orderbook INR 27,466 Cr (Dec-23, 7.3x TTM Revenue) | New Products | Partnerships | Railways

  • MCap of INR 13,845 Crore (share price = INR 1,028 / share) (as on 5th Feb ‘24)
  • TTM PE 54.3x (as on 5th Feb ‘24) Retail float = 20.1% (Dec-23)

Titagarh Rail Systems: Company Description

Titagarh rail systems ltd. 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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Arman Financial Services Ltd.

Recent filing: (EXCELLENT RESULTS) For the quarter ending Dec-23, Sales up 64% YoY from INR 103 Cr in Dec-22 to INR 169 Cr in Dec-23. Similarly, Net Profit up 91% from INR 22 Cr to INR 42 Cr. On a QoQ basis, Sales up 6% and Net Profit up 2%.

SUMMARY: 3y Operating Profit uptrend | 7q Operating Profit uptrend | PE 14.1x (Sector PE range 20-40) | Excellent Dec-23 results | Fund raise | Institutional entry

  • MCap of INR 2,244 Crore (share price = INR 2,292 / share) (as on 5th Feb ‘24)
  • TTM PE of 14.1x (as on 5th Feb ‘24) Retail float = 21.2% (Dec-23)

Arman Financial Services: Company Description

Arman Financial Services Limited, is a RBI registered Non-Banking Finance Company – Asset Finance Company (NBFC-AFC) with rural and semi-rural financing at the centre of its business model.