Talbros Automotive Components Order, Cigniti Technologies Open Offers Acquisition And Zaggle Prepaid Ocean Services Partnership
Talbros Automotive Components Ltd.
Recent filing: (ORDER) Talbros Automotive Components and its JVs secured INR 475 Cr in multi-year orders, including INR 345 Cr for gaskets and heat shields (INR 245 Cr for heat shields and INR 100 Cr for gaskets, with INR 131 Cr from exports), INR 35 Cr for chassis components through Marelli Talbros Chassis Systems (INR 23 Cr from forging, including INR 14 Cr in exports), and INR 70 Cr through Talbros Marugo Rubber for hoses and A/V products, with commercialization starting in FY26. INR 75 Cr of the total orders is for the EV segment, and INR 145 Cr is for exports, primarily to Europe.
SUMMARY: 5y Operating Profit uptrend | 7q Operating Profit uptrend | PE 23.9x (Sector PE range 30-50) | Large orders | Automobiles & Ancillaries
FUTURE OUTLOOK: Company anticipates the confidence in achieving the revenue target of INR 2,200 Cr (41% growth) for FY27 and aims to maintain EBITDA margins around 16% in the long term.
- MCap of INR 2,072 Crore (share price = INR 336 / share) (as on 27th Nov ‘24)
- TTM PE of 23.9x (as on 27th Nov ‘24) Retail float = 28.9% (Sep-24)
FOOD FOR THOUGHT: Exposed to the cyclicality inherent in automotive industry | Volatility in raw material prices could impact profit – iron and steel account for 50-60% of total operating income
Question 1: Who are the promoters of Talbros Automotive Components?
Established in 1956, Talbros is a diversified auto component player with presence across automobile categories in Passenger Vehicles, Commercial Vehicles, Two and Three-Wheelers, Agricultural Machinery, Off-Loaders, and Industrial Vehicles. The product portfolio of the Company includes Gaskets & Heat Shields, Forgings, Suspension Systems, Anti Vibration Product and Hoses.
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Cigniti Technologies Ltd.
Recent filing: (OPEN OFFER ACQUISITION) Coforge bought 12.8L shares of Cigniti Technologies at INR 1415/share, aggregating to INR 181 Cr.
SUMMARY: 3y Operating Profit uptrend | 2q Operating Profit uptrend | PE 29.7x (Sector PE range 30-50) | Institutional Entry | New age IT
- MCap of INR 4,559 Crore (share price = INR 1,670 / share) (as on 27th Nov ‘24)
- TTM PE of 29.7x (as on 27th Nov ‘24) Retail float = 12.1% (Sep-24)
FOOD FOR THOUGHT: Highly competitive sector.
Question 1: Who are the promoters of Cigniti Technologies?
Cigniti is an Al and IP-led digital assurance and engineering services company, helping global companies across industries like banking, retail & e-commerce. healthcare & life sciences, airlines, etc. continuously accelerate their digital transformation and become digital-first.
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Zaggle Prepaid Ocean Services Ltd
Recent filing: (PARTNERSHIP) Zaggle Prepaid Ocean Services has partnered with Mastercard Technology Private Limited, allowing Mastercard to recommend Zaggle's SaaS platform, payment, and card products to corporate clients and ecosystem entities on a referral basis. The 7-year agreement begins on November 26, 2024.
SUMMARY: 2y Operating Profit uptrend | PE 86.5x (Sector PE range 30-50) | Excellent Sep-24 results | Acquisitions | Ace Investor | Institutional entry | IT
FUTURE OUTLOOK: As per Q2FY25 Investor Presentation, Company is raising its guidance to a 50-55% increase in topline growth for FY25 and is highly confident in doubling FY24 revenues within the next two years | Company has a seasonality where 35% to 40% of business comes in the first 2 quarters and about 60% to 65% comes in H2, which is the Q3 and Q4.
- MCap of INR 6,027 Crore (share price = INR 491 / share) (as on 27th Nov ‘24)
- TTM PE 86.5x (as on 27th Nov ‘24) Retail float = 20% (Sep-24)
FOOD FOR THOUGHT: PE is above sector range.
Question 1: Who are the promoters of Zaggle Prepaid Ocean Services?
Incorporated in 2011, Zaggle is a uniquely positioned player in the FinTech industry, offering a diversified range of products and services. Company’s portfolio includes a variety of SaaS solutions, such as expenses, payments, and rewards management software, which cater to a wide array of touchpoints.