Solar Industries India Ltd (SIIL), the market leader in industrial explosives and largest Indian exporter, is poised to sustain its fast paced growth on the back of its leadership position with a well diversified product portfolio, overseas expansion, entry into the defence sector, helped by strong client relationships with low cost realization. SIIL holds a ~22% market share of the domestic industrial explosives and a ~55% of market share in international industrial explosive. Coal India is the largest client of SIIL and contributed ~24% of revenue in Q1FY16, even as SIIL diversifies its customer base, increasing its footprint in the industry. We estimate consolidated revenue to grow at ~17% CAGR over FY16-18E, resulting in...
Minda Industries Limited (MIL) is the flagship company of the UNO Minda Group. MIL is one of the leading suppliers of switching systems, lighting systems, acoustic systems & alloy wheels among others for 2W/3W/4W in the Indian automotive market. MIL has more than 28 manufacturing plants in India and 5 R&D; centers globally. Minda's technology tie-ups with global suppliers that give it access to new and high value products, its ability to gain market share across segments & globe and robust growth potential would benefit from a demand recovery in the industry and ramp-up with new customers and products. We estimate consolidated revenue to post 24% CAGR over FY16-18E, resulting in EBITDA margin...
Capital First Ltd. (CFL) is a strong retail NBFC play with a differentiated business model and strong loan product portfolio with promising long term opportunities. It is well managed and engaged in retail segment i.e. MSME funding, Consumer Durables and 2W financing. Strong growth in AUM with diversified portfolio without any impact on asset quality is commendable. Backed by strong and consistent AUM growth, healthy capital adequacy position, changing borrowing mix, we expect RoAA/RoNW to improve by 33/588 bps respectively over the next two years. We believe CFL will command a higher valuation on the back of strong AUM growth, improvement in ratios, experienced management and with...
Innovation and new product launches hold the key to growth : The objective of identifying new crop protection solutions for Indian farmers, for marketing new agrochemicals and for registering new products led DAL to look for novel ideas in India and overseas. Innovation has been DAL's key strength with its technical collaborations with global MNC giants such as Dow Agro Sciences, Dupont, Sumitomo Corporation, Mitsui Chemicals, among others. Partnership-driven revenues accounted for almost 43% of DAL's total revenue in FY16. In FY16, DAL launched 5 new products Cover 9(4), Dhanvarsha, Dozo 9(4), Thiram 9(4) and Goldy 9(4). In FY17, in the first quarter, the company has already launched 4 new products ...
Karnataka Bank Limited (KBL), a leading 'A' Class Scheduled Commercial Bank in India, was incorporated on February 18th, 1924 at Mangaluru, a coastal town of Dakshina Kannada district in Karnataka State. The bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India. Over the years the Bank grew with the merger of Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka. With over 9 decades of experience at the forefront of providing professional banking services and quality customer service, KBL now has a national presence with a network of 725 branches spread across 21 states and 2 Union Territories. Today, KBL has...
Ramkrishna Forging Limited (RKFL) promoted by Mr Mahabir Jalan in 1981, is currently a leading player in machined forged products, ring rolling, & high press line forging. RKFL is a preferred supplier for OEM's like TATA Motors, Ashok Leyland & VE Commercial and global supplier for companies like Meritor. The Company has presence in automobiles, railways, mining & defense sector & present in domestic and overseas market. With over 34 years RKFL is coming out with products like Front Axle Beam, Crankshaft, Connecting Rods and Knuckles, critical safety item supplier for Screw Coupling, Bolster suspension, Side frame keys and Draw Gear Assembly for Railway Coaches & wagon. RKFL corporate headquarter is...
Well positioned to ride on recovery in domestic Capital Expenditure cycle: SEL, starting as single product company, today has emerged as global player operating in 40 countries with more than 10 SKU's in the segment. SEL commands ~20% market share in industrial switchgear segment in India. The company spends ~4-5% of its revenues on R&D; to develop new products. It owns one patent for rotary switches and 5 more product patents are in process of approval. In addition, it has Joint venture with C3Controls for contactors and relays. SEL's products are internationally certified and have universal acceptance. With strong research base and technological tie-ups, SEL is a preferred supplier to various leading companies like GE, Schneider,...
Sterlite Technologies Limited (STL) is one of the largest integrated manufacturers of optical fiber in the world. The company offers a complete range of end-to-end optical fibers for a variety of applications. STL is set to ride the new digital wave of Government of India (GoI). With world-class manufacturing units with state-of-the-art technology in India, China and Brazil, STL is uniquely positioned to cater to buyers in the telecom and power sectors both in India and overseas and well placed to serve burgeoning global demand. STL is pioneering Fiber-to-the-Home (FTTH) deployment in the country to enable high speed broadband connectivity. With leadership position, STL will be the key beneficiary of rollout of NOFN,...
Global sugar production in 2015-16 is expected to fall by 3 mn tonnes to 172 mn tonnes. Sugar consumption is expected to reach a 173 mn tonnes, reducing end season stock by 4 mn tonnes. Further, the International Sugar Organization (ISO) has raised the world sugar production deficit to 3.53 mn tonnes for 2015-16 from its earlier estimate of ~1 mn tonnes and 6 mt for 2016-17. Brazil, the world's largest sugar producer, is expected to have lower sugar production of ~35 mn tonnes (-9% YoY) on account of El Nino and mandatory ethanol conversion. This, along with fall in global sugar inventory to ~67 days (vs 75 days) is likely to keep international...
Offer for Sale: The objects of the Offer are to achieve the benefits of listing on the Stock Exchanges and for the sale of Equity Shares by the Selling Shareholders. Further, Company expects that the listing of the Equity Shares will enhance their visibility and brand image among their existing and potential clients and provide liquidity to the existing shareholders. Company will not receive any proceeds from the Offer for Sale and all the proceeds will go to the Selling Shareholders....
