Venus Pipes & Tubes And Home First Finance Good to Excellent Results, KPI Green Energy Order

Venus Pipes & Tubes Ltd.

Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Jun-24 for Venus Pipes & Tubes, Sales up 33% YoY from INR 180 Cr in Jun-23 to INR 240 Cr in Jun-24. Similarly, Net Profit up 65% from INR 17 Cr to INR 28 Cr. On a QoQ basis, Sales up 7% and Net Profit up 12%.

FUTURE OUTLOOK: As per Q4FY24 Concall, Company announced a CAPEX of INR 175 Cr over two phases to expand capacity for value fitting solutions and titanium welded tubes | Company targeting new industries like semiconductor manufacturing for growth opportunities.

MCap of INR 4,623 Crore (share price = INR 2,278 / share) (as on 26th Jul ‘24)
TTM PE 48.1x (as on 26th Jul ‘24) Retail float = 17% (Jun-24)

FOOD FOR THOUGHT: Volatility in raw material price.

Q1. What are the Products and Services offered by Venus Pipes & Tubes?

Venus Pipes and Tubes is a manufacturer of stainless steel welded and seamless pipes, tubes and U-tubes. It has 15 production lines including pilgers, tube-mills, draw benches, annealing furnaces and several ancillary machinery. Its products find application in chemicals, refineries, heat exchangers, fertilizer plants, oil & gas, power plants, etc.

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Home First Finance Ltd.

Recent filing: (GOOD TO EXCELLENT RESULT) For the quarter ending Jun-24 for Home First Finance, Sales up 32% YoY from INR 255 Cr in Jun-23 to INR 336 Cr in Jun-24. Similarly, Net Profit up 28% from INR 69 Cr to INR 88 Cr. On a QoQ basis, Sales up 7% and Net Profit up 6%.

MCap of INR 9,421 Crore (share price = INR 1,060/ share) (as on 26th Jul ‘24)
TTM PE of 29x (as on 26th Jul ‘24) Retail float = 9.9% (Jun-24)

Q2. What are the Products and Services offered by Home First Finance ?

Home First Finance Limited is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. It e primarily offer customers housing loans for the purchase or construction of homes. It offers mobility solutions through dedicated mobile applications for our customers to enable quick and transparent loan related transactions.

We have an integrated customer relationship management and loan management system set up on a leading cloud based customer relationship platform providing us with a holistic view of all our customers.

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KPI Green Energy Ltd.

Recent filing: (ORDER) KPI Green Energy has won two tenders: 250 MWAC (275 MWDC) for solar power and 370 MWAC (642 MWDC) for hybrid renewable energy. This expansion will boost the company’s renewable energy portfolio to over 2,800 MW, with 1,432+ MW in the Independent Power Producer segment and 1,368+ MW in the Captive Power Producer segment. Power Purchase Agreements (PPAs) will be finalized following approval from the Gujarat Electricity Regulatory Commission (GERC).

FUTURE OUTLOOK: Company has ambitious target of 1000 MW by 2025.

MCap of INR 11,598 Crore (share price = INR 962 / share) (as on 26th Jul ‘24)
TTM PE 71.6x (as on 26th Jul ‘24) Retail float = 21.4% (Jul-24)

FOOF FOR THOUGHT: Negative operating cash flow for FY24.

Q3. 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'.

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