Analysis, guides and explainers on India's unlisted market — from IPO pipelines to ESOP liquidity.
<strong>Overview</strong> Indian mobile phone brands Micromax, Karbonn, and Lava are gearing up for a significant resurgence, with a strategic focus on the entry-level price segment. These brands are aiming to provide consumers with better choices in this segment, hoping to regain market share and re-establish their presence in the Indian mobile market. <strong>Planned Launches and Pricing Strategies</strong> Karbonn is set to introduce a new smartphone priced at Rs 4,999, while Micromax is planning to launch a device priced at Rs 5,999. Micromax is also in discussions with telecom operators to offer their handset at a bundled price of Rs 4,999. Meanwhile, Lava is looking to expand its portfolio of 5G smartphones, with several models priced below Rs 10,000. <strong>Market Vacuum and Government Support</strong> Pradeep Jain, Managing Director at Jaina Group, owner of the Karbonn brand, has noted a vacuum in the sub-Rs 10,000 segment. With the Indian government expressing support for a revival of Indian smartphone brands, Karbonn intends to capitalize on the ongoing prevalence of 4G, which is expected to remain significant for at least three more years. <strong>Lava's Aggressive Growth</strong> Over the past year, Lava has adopted a more aggressive approach to its smartphone business. Sunil Raina, President and Business Head at Lava, highlighted the company's impressive growth, doubling the previous year and already tripling compared to last year. <strong>Market Share and Current Competition</strong> Counterpoint Research reports that the combined market share of Indian smartphone brands in the first quarter was less than 1%, a stark contrast to their 45% share during their peak in 2013 and 2014. The market is currently dominated by Samsung and Chinese brands such as Vivo, Xiaomi, Oppo, and Realme. <strong>The Potential of the Sub-Rs 10,000 Segment</strong> Shilpi Jain, Senior Analyst at Counterpoint Research, suggests that with concerted efforts and government support, Indian brands like Lava and Jio may secure a larger share in the sub-Rs 10,000 segments. However, this market segment has seen a decline in recent quarters. <strong>Micromax's Approach to Quality</strong> Micromax, committed to not engaging in pricing wars with underpowered hardware, plans to launch quality models. The debt-free company intends to fund this expansion with internal accruals and is considering raising funds by selling a stake. <strong>Level Playing Field and Local Manufacturing</strong> An anonymous chief of an Indian brand mentioned that the government aims to ensure pricing parity, preventing Chinese brands from selling at a loss—a strategy that previously led to the downfall of Indian brands. This intervention has resulted in a level playing field. Moreover, unlike in the past, Indian brands are now designing and manufacturing their handsets locally, further bolstering the domestic industry. https://unlistedzone.com/shares/lava-international-limited-share-price-buy-sell-unlisted-shares-of-lava-international/
<p><strong>API Holdings Announces a Strategic Business Meeting</strong> <br /><br />API Holdings is scheduled to hold an important strategic business meeting via video conferencing on the 27th of July, 2023, at 12 Noon. The purpose of this conference is to discuss the demerger of the Mahaveer Medicos business and its subsequent amalgamation under Ascent Wellness and Pharma. <br /><br /><strong>Business Overview: The Involved Entities</strong> <br /><br />Mahaveer Medicos, currently having 4 lakh shares, is predominantly owned by Ascent Wellness and Pharma. Engaged in the wholesale distribution of pharmaceutical and nutraceutical products across India, Mahaveer Medicos caters to various pharmaceutical distributors and pharmacies. Their operations span both online and offline channels. Ascent Wellness and Pharma, a majority stakeholder in Mahaveer Medicos, is a pharmaceutical supply chain company that leverages automation and innovation to enhance healthcare accessibility and affordability. Collaborating with industry giants such as Zydus Cadila, Cipla, Sun Pharmaceuticals, Abbott, GSK, Pfizer, and Torrent, Ascent offers cutting-edge solutions for large-scale hospital pharmacy segments. API Holdings, the orchestrator of the demerger, provides a wide array of delivery/logistics services, including product pick-up and delivery, to its group entities and third parties. It services a broad spectrum of the healthcare ecosystem, including wholesalers, retailers, and marketplace entities. <br /><br /><strong>Demerger Objectives and Shareholder Repercussions</strong> <br /><br />The rationale for the demerger encompasses several key business elements. It intends to unlock the value of Mahaveer and Ascent's respective businesses, reflecting their individual risk-return profile and cash flows. Additionally, it aims to offer enhanced flexibility in capital access and attract business-specific partners and investors. Lastly, the demerger allows a more focused management approach towards revenue growth and expansion opportunities within respective business verticals. The demerger will also impact the share distribution of Mahaveer Medicos' minority shareholders like VINOD, BHERUMAL, and NIRMALA, who will receive API holdings shares. The share conversion ratio stands at a significant 26934 API shares for every 100 shares of Mahaveer Medicos. <br /><br /><strong>UnlistedZone View and Financial Performance</strong> <br /><br />The demerger essentially enables the transition of Mahaveer Medicos' wholesale distribution into Ascent to streamline operational costs. Given that Mahaveer Medicos is a profitable B2B enterprise, it might follow a route similar to Byju's approach with Aakash Institute by listing separately in the future. Regarding financial performance, the revenues of Ascent Wellness and Pharma have seen significant growth, from Rs. 117 crores in FY21 to Rs. 682 crores in FY23. However, the company reported a Profit After Tax (PAT) loss, moving from Rs. 24 crores in FY21 to a loss of Rs. 124 crores in FY23. In contrast, Mahaveer Medicos has exhibited steady revenue growth, with FY23 revenues rising to Rs. 789 crores from Rs. 500 crores in FY21. The PAT also displayed a positive trend, increasing from Rs. 16 crores in FY21 to Rs. 28 crores in FY23. <br /><br /><strong>Concluding Remarks</strong> <br /><br />The proposed demerger represents a strategic restructuring, intending to enable individual business growth, attract more specific investors, and potentially prepare Mahaveer Medicos for a future listing. As the decision unfolds, the market awaits the resultant dynamics and potential opportunities arising from this reshuffling. <br /><br /><a href="https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/">https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/</a></p> <p> </p>
<p>NSE Expands Offerings with Bond Index Derivatives and Unveils GIFT Nifty for International Investors <br /><br /><strong>Introduction</strong> <br /><br />The National Stock Exchange (NSE) in India is set to enhance its platform by introducing derivatives based on its bond indexes. This strategic move aims to attract more investors and broaden the range of financial instruments available for trading. Additionally, the NSE has unveiled a new brand identity, GIFT Nifty, for its international exchange, NSE IX, providing international investors with access to India's growth story. In this blog post, we will delve into the details of these developments and their potential impact on the Indian financial market. <br /><br /><strong>NSE's Venture into Bond Index Derivatives</strong> <br /><br />The NSE recognizes the importance of diversifying investment opportunities and encouraging participation in the corporate bond market. To achieve this, they are planning to launch derivatives contracts based on their existing corporate bond indexes. This move will provide investors with an additional avenue to trade debt securities rated AA and higher. By expanding the scope of available investment opportunities, the NSE aims to stimulate market liquidity and attract more participants. <br /><br /><strong>Regulatory Approvals and Timeline</strong> <br /><br />In their commitment to introducing corporate bond derivatives, the NSE has already applied for approval from the Securities Exchange Board of India (SEBI). This demonstrates the NSE's dedication to enhancing its platform and offering innovative financial products to investors. With the necessary regulatory changes already implemented earlier this year, the NSE targets a launch date for the corporate debt product by September. <br /><br /><strong>NSE's Strong Foundation and Track Record</strong> <br /><br />The NSE's position as the world's largest derivatives exchange, based on the number of contracts in 2022, underscores its influence and capabilities in the derivatives market. Leveraging this expertise, the NSE aims to energize India's corporate bond market and facilitate companies in diversifying their funding sources beyond traditional bank lending. By introducing these new derivative products, the NSE hopes to boost trading volumes and enhance market liquidity. <br /><br /><strong>Introducing GIFT Nifty for International Investors</strong> <br /><br />NSE IX, the NSE's international exchange, has introduced a new brand identity called GIFT Nifty. This rebranding aligns with NSE's flagship index, Nifty 50, and reflects the exchange's commitment to providing international investors with access to India's thriving market. Through NSE IX at GIFT City in Gujarat, international investors will have the opportunity to participate in India's growth story. <br /><br /><strong>NSE IX-SGX Connect and Enhanced Access</strong> <br /><br />Starting from July 3, the NSE IX-SGX Connect will commence full-scale operations, offering international investors the chance to access Nifty products through NSE IX at GIFT City. Initially, market participants will have access to Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services, and Gift Nifty IT derivative contracts. Over time, the suite of Gift Nifty indices will expand, providing a broader range of investment options. Notably, these contracts will be accessible for almost 21 hours, overlapping with trading hours in Asia, Europe, and the US. This extended availability aims to offer greater flexibility and access to international investors. <br /><br /><strong>Conclusion</strong> The NSE's initiatives to introduce bond index derivatives and the unveiling of GIFT Nifty demonstrate its commitment to expanding its offerings and attracting a wider range of investors. By venturing into the corporate bond market and providing access to India's growth story for international investors, the NSE aims to stimulate market liquidity and energize the Indian financial landscape. These developments hold the potential to enhance trading volumes, increase market participation, and provide new avenues for companies to diversify their funding sources. <br /><br /><a href="https://unlistedzone.com/shares/nse-india-limited-unlisted-shares/">https://unlistedzone.com/shares/nse-india-limited-unlisted-shares/</a></p>
<strong>1. Introduction</strong> Ncl-Buildtek, an unlisted company, recently published its financial results for the fiscal year 2023 (FY23), showcasing a remarkable performance across various key indicators. The company witnessed significant growth in revenue, a surge in profit after tax (PAT), and notable improvements in gross margins and EBITDA margins. These positive outcomes highlight Ncl-Buildtek's successful strategies in navigating market challenges and positioning itself for future growth. <strong>2. Robust Revenue Growth: </strong> In FY23, Ncl-Buildtek's revenue reached 450 Cr, reflecting a substantial increase of 13% compared to the previous fiscal year. This growth indicates the company's ability to expand its market presence and capitalize on emerging opportunities within its industry. <strong>3. Improved Gross Margins:</strong> One of the standout achievements for Ncl-Buildtek was the improvement in gross margins. With raw material prices decreasing, the company's gross margins rose from 39% in FY22 to an impressive 43% in FY23. This positive development signifies a successful mitigation of inflationary pressures on raw materials, leading to increased profitability and better cost management. <strong>4. Enhanced EBITDA Margins:</strong> Ncl-Buildtek showcased notable improvements in its EBITDA margins, rising from 7.3% in FY22 to 10.19% in FY23. This demonstrates the company's efforts in optimizing its operational efficiency, controlling costs, and maximizing profitability. The enhanced EBITDA margins position Ncl-Buildtek favorably within its sector and highlight effective management practices. <strong>5. Surge in Profit After Tax (PAT)</strong> The company's profit after tax witnessed a remarkable jump, soaring from 11 Cr in FY22 to 20 Cr in FY23, reflecting a staggering increase of nearly 100%. This exceptional growth underscores Ncl-Buildtek's ability to generate higher returns and deliver value to its stakeholders. <strong>6. Favorable Valuation</strong> With an earnings per share (EPS) of 16 in FY23 and an unlisted market price of 260, Ncl-Buildtek is available at a price-to-earnings (P/E) ratio of 16x. This valuation metric suggests a reasonable investment opportunity for potential investors interested in the company. <strong>7. Conclusion</strong> Ncl-Buildtek's financial performance for FY23 has been outstanding, with robust revenue growth, improved gross margins, enhanced EBITDA margins, and a surge in profit after tax. The company's ability to navigate market challenges and capitalize on favorable conditions highlights its strong management practices and strategic decision-making. The positive financial results position Ncl-Buildtek as an attractive investment opportunity for individuals seeking exposure to a promising company in the unlisted market. However, it's important to note that before making any investment decisions, individuals should conduct thorough research, assess their risk tolerance, and seek advice from financial professionals. The UnlistedZone website provides further information for investors interested in exploring investment opportunities in Ncl-Buildtek. https://unlistedzone.com/shares/buy-sell-share-price-ncl-alltek-seccolor-limited-unlisted-shares/
<strong>BoAt Sails Towards Higher Growth: Steers Focus on Software</strong> Innovation and Offline Expansion Robust Sale Growth and Expansion Plan India's leading wearables brand, BoAt, has announced record net sales of approximately Rs 4000 crore ($500 million) in FY2023, marking a 20-22% growth over the previous fiscal year. Leveraging its stronghold in audio products and recent boom in smartwatches, the company now targets an ambitious addition of Rs 1,000 crore to its revenue this fiscal Year. <strong>Manufacturing And Local Procurement</strong> Co-founder Sameer Mehta said, "The company assembled around 15 million products in India, including 70% of its audio products and around 98% of its smartwatches." This reflects a steadfast commitment towards promoting indigenous manufacturing. The company plans to source most of the components for audio products locally from India, including mechanics, plastic molds, speaker drivers, and batteries. BoAt has partnered with a host of contract manufacturers, including Dixon Technologies, to accelerate its manufacturing prowess. The joint venture is expected to be operational later this year. Despite the increasing local production, the company still relies on Chinese design houses for conducting design and engineering verification tests. <strong>Innovation through Strategic Partnership</strong> As part of its strategy to enhance the value of its products, BoAt is seeking partnerships with industry giants such as Qualcomm, Dolby, and Dirac. This will particularly benefit the company's audio product line, which accounts for 70% of its revenue and saw a phenomenal 82% year-on-year growth in Q1 2023. <strong>Transition from Hardware-First to Software Ecosystem</strong> Sameer Mehta hinted at a strategic shift for the company's smartwatches, moving from a hardware-centric model to a more comprehensive software-based ecosystem. This transition aims to make the watches more than just step counters and heart rate monitors, by introducing features related to health and wellness as part of a broader IoT play. To bolster its software capabilities, BoAt acquired the Singapore-based KaHa platform in May 2022. Since then, it has launched a range of innovative features, such as a reward platform for meeting health goals, which has also been updated in some of its older wearable. <strong>Growth Amid Competition</strong> Despite the ongoing expansion and market penetration of rivals like Fire-Boltt, BoAt plans to carefully craft its strategy before venturing into overseas markets. Mehta emphasised the need to establish the brand beyond simply shipping products to new markets. <strong>Conclusion</strong> BoAt's unwavering commitment to the 'Make in India' initiative, coupled with aggressive investment in software and application development, positions it well for continued success. With a distinctive strategy and dedication to product quality, BoAt is set to sail smoothly in the competitive waters of India's wearable mark https://unlistedzone.com/shares/boat-unlisted-share-price/
Kannur International Airport, a key player in Kerala's aviation sector, is currently embroiled in a severe financial crisis. With the Kannur Airport Unlisted Share facing unprecedented uncertainty, the management is contemplating significant strategic shifts to mitigate the situation. In the face of these financial challenges, the management is actively exploring the possibility of transferring its operations to the Tata Group. Privatization efforts have been initiated, with the Tata Group being a potential buyer. This move might bring about operational efficiency and improved financial stability, offering a potential respite to the Kannur Airport Unlisted Share. In a similar vein, the recent takeover of Thiruvananthapuram Airport by the Adani Group has stirred interest in Kannur Airport. This development indicates a growing trend towards privatization in the Indian aviation sector, and suggests potential competition in the privatization process. The financial strain at Kannur International Airport Limited (KIAL) is clearly evidenced by a two-month delay in salary payments to its employees. Such indicators of financial distress add to the uncertainty surrounding the Kannur Airport Unlisted Share. The operation of international flights from Kannur is currently limited. This constraint potentially reduces the airport's income from landing fees, passenger service charges, and other revenue sources. Moreover, domestic airlines operating from Kannur Airport have raised their fares, resulting in a decrease in passenger numbers and further impacting revenues. Presently, Kannur Airport's services are limited to two providers: Air India Express and IndiGo. This situation, too, limits the airport's sources of airline-related income, adding to the financial challenges. The financial liabilities associated with Kannur Airport are significant. An initial loan of INR 2,350 crores taken for the airport's construction has snowballed to INR 1,100 crores due to accumulated interest. With the loan's repayment period having expired, the airport now faces considerable debt servicing issues. In conclusion, the Kannur Airport Unlisted Share faces significant uncertainty amid the ongoing financial crisis. The potential transfer of the airport's management to the Tata Group, alongside the broader trend towards privatization in the Indian aviation sector, may bring about substantial changes in the airport's operational and financial landscape.
<p><strong>Introduction:</strong> <br /><br />PharmEasy, a prominent online pharmacy platform, has recently announced its partnership with Avendus Capital to raise equity funding. This move comes as PharmEasy aims to secure additional funds to meet a crucial covenant in the loan it received from Goldman Sachs. The company's existing investors, including Prosus Ventures, Temasek Holdings, CDPQ, and TPG, have expressed interest in investing up to INR 250 Cr in PharmEasy. Avendus Capital is also expected to explore opportunities to attract external investors for this fundraising endeavor. Let's delve deeper into the details and implications of this development. <br /><br /><strong>PharmEasy's Equity Funding Plans:<br /><br /></strong> In its current funding round, PharmEasy is aiming to raise up to $100 Mn (INR 824.64 Cr), which will supplement the INR 550 Cr it raised through a rights issue in 2022. The primary objective of this funding is to fulfill a key covenant in the loan agreement with Goldman Sachs. To achieve this, PharmEasy intends to raise INR 250 Cr to meet the loan covenant and allocate the remaining funds towards fulfilling its working capital requirements. <br /><br /><strong>Avendus Capital's Role:</strong> <br /><br />Avendus Capital, a trusted financial services firm, has been appointed as the advisor for PharmEasy's equity funding drive. Notably, Avendus Capital also served as the advisor during PharmEasy's successful Series C funding round in September 2018, which raised $50 Mn. Avendus Capital's involvement in both fundraising efforts underscores the confidence and strategic value they bring to PharmEasy's growth trajectory. <br /><br /><strong>Operational Profitability and Loan Obligations:</strong> <br /><br />PharmEasy's operational EBITDA profitability, excluding ESOP costs, has been instrumental in negotiating a smaller equity raise compared to the initial INR 1,000 Cr sought by the lender. The company's ability to demonstrate profitability has enabled it to secure a funding goal of INR 250 Cr to meet the loan covenant. The remaining funds will be utilized to support the company's working capital needs, ensuring its continued expansion and service excellence. <br /><br /><strong>PharmEasy's Acquisition and Subsidiary:</strong> <br /><br />PharmEasy borrowed INR 2,280 Cr ($285 Mn) from Goldman Sachs in August 2022 to settle a previous debt incurred from Kotak Mahindra Bank related to the acquisition of Thyrocare, a subsidiary of PharmEasy. Despite interest from potential acquirers, PharmEasy's founders are resisting the sale of Thyrocare, recognizing its strategic significance within the company. In June 2021, PharmEasy's parent company, API Holdings, acquired a 66% stake in Thyrocare for INR 4,546 Cr, which necessitated the debt raised from Kotak Mahindra Bank and subsequently Goldman Sachs. <br /><br /><strong>Financial Performance and Valuation:</strong> <br /><br />For the fiscal year ending on March 31, 2022, PharmEasy witnessed a substantial increase in revenue from operations, reaching INR 5,729 Cr compared to INR 2,235 Cr in the previous fiscal year. However, the company's losses also grew from INR 641 Cr in FY21 to INR 2,731 Cr in FY22. Recently, investors Neuberger Berman and Janus Hendersen marked down PharmEasy's valuation to $2.8 Bn, highlighting the need for continued financial investments to drive profitability and investor confidence. <br /><br /><strong>Conclusion:</strong> <br /><br />PharmEasy's collaboration with Avendus Capital to raise equity funding reflects the company's commitment to secure the necessary resources to meet its loan obligations and support its growth initiatives. With the backing of existing investors and potential external investors, PharmEasy aims to raise up to INR 250 Cr in this funding.</p>
<span style="font-weight: 400;">Axles India Limited has announced its annual financial results for the fiscal year 2022-2023. Following are the key highlights from the report. </span> <span style="font-weight: 400;">Axles India Limited achieved a remarkable milestone in terms of total revenue, reporting Rs. 745.93 crore in FY23. This represented a substantial growth rate of 30.73% compared to the previous fiscal year's revenue of Rs. 572.37 crore.</span> <span style="font-weight: 400;">The company's total expenses for FY23 were Rs. 675.20 crore, reflecting an increase of 28.19% compared to Rs. 527.19 crore in FY22.</span> <span style="font-weight: 400;">Axles India Limited demonstrated a robust performance in terms of profitability, as its profit before tax in FY23 amounted to Rs. 70 crore. This marked a significant increase of 55% compared to the previous fiscal year's figure of Rs. 45 crore.</span> <span style="font-weight: 400;">The company's profit after tax for FY23 reached Rs. 52 crore, signifying a growth rate of 66% from the previous fiscal year's profit of Rs. 33 crore.</span> <span style="font-weight: 400;">Axles India Limited's earnings per share (basic and diluted) in FY23 stood at Rs. 20.66, showcasing a substantial rise of 55.91% from the EPS of Rs. 13.28 in FY22.</span> <span style="font-weight: 400;">In FY23, Axles India Limited's total assets amounted to Rs. 416.45 crore, a notable increase of 12.23% compared to Rs. 371.09 crore in FY22.</span> <span style="font-weight: 400;">The company's total equity and liabilities in FY23 stood at Rs. 416.45 crore, indicating a growth rate of 12.23% from the previous fiscal year's figure of Rs. 371.09 crore</span> <span style="font-weight: 400;">Cash generated from operating activities in FY23 amounted to Rs. 17.78 crore, reflecting a significant increase of approximately 32.4% compared to the previous fiscal year.</span> <span style="font-weight: 400;">The company invested Rs. 12.21 crore in various activities during FY23, marking an increase of approximately 33.2% compared to FY22.</span> <span style="font-weight: 400;">Cash utilized in financial activities during FY23 amounted to Rs. 16.58 crore, indicating a decrease of approximately 16.5% compared to FY22.</span> <span style="font-weight: 400;">At the end of FY23, the company held Rs. 5.71 crore in cash and cash equivalents, representing a substantial decrease of approximately 65.9% compared to FY22. </span>
<strong>Key highlights from Mahindra Fastener Limited's annual financial report for the financial year ended March 31, 2023, are as follows:</strong> <span style="font-weight: 400;">Total revenue increased by 25% to Rs. 139 crore compared to the previous financial year.</span> <span style="font-weight: 400;">Total expenses rose by 27% to Rs. 155 crore compared to the previous financial year.</span> <span style="font-weight: 400;">Profit before tax grew by 25% to Rs. 20 crore compared to the previous financial year.</span> <span style="font-weight: 400;">Net profit after tax increased by 25% to Rs. 15 crore compared to the previous financial year.</span> <span style="font-weight: 400;">Earnings per share (EPS) (basic and diluted) were Rs. 25.55, compared to Rs. 23 in the previous financial year.</span> <span style="font-weight: 400;">Total assets increased to Rs. 168 crore compared to Rs. 141 crore in the previous financial year.</span> <span style="font-weight: 400;">Total equity and liabilities also increased to Rs. 168 crore compared to Rs. 141 crore in the previous financial year.</span> <span style="font-weight: 400;">Net cash generated from operating activities increased to Rs. 6 crore compared to Rs. 3 crore in the previous financial year.</span> <span style="font-weight: 400;">Total cash used in investing activities decreased to Rs. 19 crore compared to Rs. 21 crore in the previous financial year.</span> <span style="font-weight: 400;">Net cash generated from financial activities decreased to Rs. 4 crore compared to Rs. 15 crore in the previous financial year.</span> <span style="font-weight: 400;">Net cash and cash equivalents at the end of the year amounted to Rs. 11 crore compared to Rs. 19 crore in the previous financial year.</span> <span style="font-weight: 400;">These highlights provide an overview of Mahindra Fastener Limited's financial performance, showing growth in revenue, expenses, profit, and assets. The company also generated more cash from operating activities while reducing cash used in investing activities. However, there was a decrease in cash generated from financial activities, and the net cash and cash equivalents decreased by the end of the year. </span>
Mohan Meakin, a prominent company in the Indian market, has released its financial results for fiscal year 2022 (FY22) and fiscal year 2023 (FY23). This article aims to provide an overview of the company's financial performance during these periods, highlighting key metrics such as revenue, EBITDA, profitability, cash generation, and valuation. Additionally, a comparison table will be presented to facilitate a better understanding of Mohan Meakin's progress and changes over the two years. <strong>Financial Performance Comparison: FY22 vs. FY23</strong> <table width="100%"> <thead> <tr> <th style="text-align: center;">Metric</th> <th style="text-align: center;">FY22</th> <th style="text-align: center;">FY23</th> </tr> </thead> <tbody> <tr> <td>Revenue (in INR crore)</td> <td>1380</td> <td>1780</td> </tr> <tr> <td>EBITDA (in INR crore)</td> <td>76</td> <td>96</td> </tr> <tr> <td>EBITDA Margins</td> <td>5.55%</td> <td>5.39%</td> </tr> <tr> <td>Profit After Tax (PAT)</td> <td>51</td> <td>68</td> </tr> <tr> <td>Earnings Per Share (EPS)</td> <td>60</td> <td>80</td> </tr> <tr> <td>Free Cash Generated</td> <td>37</td> <td>16</td> </tr> <tr> <td>Return on Equity (ROE)</td> <td>34%</td> <td>25%</td> </tr> <tr> <td>Return on Capital Employed (ROCE)</td> <td>30.8%</td> <td>30%</td> </tr> <tr> <td>Price-to-Earnings (P/E)</td> <td>-</td> <td>17.5x</td> </tr> <tr> <td>Market Capitalization (Mcap)</td> <td>-</td> <td>1200 crore</td> </tr> </tbody> </table> <strong>Revenue FY23:</strong> The company recorded a revenue of INR 1780 crore, indicating a significant increase from the previous fiscal year. FY22: The revenue for FY22 stood at INR 1380 crore. <strong>EBITDA FY23:</strong> Mohan Meakin's EBITDA for FY23 reached INR 96 crore, reflecting a positive growth trajectory. FY22: The company reported an EBITDA of INR 76 crore in FY22. <strong>EBITDA Margins FY23:</strong> The EBITDA margins for FY23 were 5.39%, suggesting a slight decrease compared to the previous year. FY22: Mohan Meakin's EBITDA margins for FY22 were slightly higher at 5.55%. <strong>Profit After Tax (PAT) FY23:</strong> The company achieved a PAT of INR 68 crore in FY23, indicating improved profitability. FY22: Mohan Meakin reported a PAT of INR 51 crore in FY22. <strong>Earnings Per Share (EPS) FY23:</strong> The EPS for FY23 amounted to INR 80, showcasing a positive growth trend. FY22: In FY22, the EPS was INR 60. <strong>Debt and Free Cash Generation FY23:</strong> Mohan Meakin remains a debt-free company. The free cash generated during FY23 amounted to INR 16 crore, reflecting a decrease compared to the previous fiscal year. FY22: The company generated free cash of INR 37 crore in FY22. <strong>Return on Equity (ROE) FY23:</strong> The ROE for FY23 was 25%, suggesting a decline compared to the previous year. FY22: Mohan Meakin achieved an ROE of 34% in FY22. <strong>Return on Capital Employed (ROCE) FY23:</strong> The ROCE for FY23 remained relatively stable at 30%. FY22: In FY22, Mohan Meakin's ROCE was 30.8%. <strong>Valuation:</strong> The market valuation of Mohan Meakin stood at a price-to-earnings (P/E) ratio of 17.5x, indicating investor confidence in the company's performance. The market capitalization (Mcap) was recorded at INR 1200 crore. <strong>Conclusion:</strong> Mohan Meakin's financial performance in FY23 demonstrates substantial growth in terms of revenue, EBITDA, PAT, and EPS. Although there were slight declines in EBITDA margins, ROE, and free cash generation, the company remained debt-free and maintained a consistent ROCE. The favorable valuation metrics, including the P/E ratio and market capitalization, indicate a positive market sentiment towards Mohan Meakin's future prospects. As the company continues to navigate the business landscape, it will be interesting to observe its strategic initiatives and their impact on future financial results. https://unlistedzone.com/shares/mohan-meakin-limited-share-price-buy-sell-mohan-meakin-unlisted-shares/
<p><strong>1.</strong> API Holdings, the parent company of PharmEasy, has requested the Union Health Minister, Mansukha Mandaviya, to expedite the notification of draft e-pharmacy rules. <br /><br /><strong>2.</strong> The request comes after the Drug Controller General of India (DCGI) issued show-cause notices to about 20 online pharmacies for alleged violation of norms in February. <br /><br /><strong>3.</strong> API Holdings, in a letter to the Health Minister, asked for an urgent meeting to discuss issues and sought support for quick notification of the draft e-pharmacy rules and the New Drugs, Medical Devices and Cosmetics Bill 2022. <br /><br /><strong>4.</strong> The company hopes to eliminate regulatory uncertainty and harmonize all existing regulations under which e-pharmacies are already compliant<strong>.<br /><br />5</strong>. Although the government has proposed draft legislation multiple times, a formal framework for e-pharmacies has yet to be established. <br /><br /><strong>6.</strong> The Health Ministry had released a draft notification in 2018 that regulated e-pharmacies, but these rules were never finalized. <br /><br /><strong>7.</strong> In March of this year, a parliamentary committee on commerce urged the Ministry of Health and Family Welfare to finalize the e-pharmacy rules, stating that delays in defining a regulatory framework were causing uncertainty and hindering the growth of digital markets. <br /><br /><strong>8.</strong> Retail chemist organizations have protested against the sale of online medicines through e-pharmacies due to the lack of regulation. <br /><br /><strong>9.</strong> API Holdings defended the e-pharmacy sector, stating it provides quality and affordable medicines to about 100 million families across India and employment to about 150,000 skilled professionals. They expressed concern about the negative narrative questioning the legitimacy of the e-pharmacy model, which they believe is causing chaos among professionals employed by e-pharmacies. <br /><br /><a href="https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/">https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/</a></p>
<p><strong>1.</strong> According to reports, Tiger Global, a well-known investor with a technology focus, is in negotiations to buy a financial share in the Rajasthan Royals, an Indian Premier League (IPL) franchise. <br /><br /><strong>2.</strong> The Rajasthan Royals will receive an investment of about Rs.32 Cr from the New York-based company, who values the franchise at Rs.5200 Cr. whereas <a href="https://unlistedzone.com/shares/csk-share-price-buy-sell-unlisted-shares/">Chennai Super Kings</a> is currently valued at ~5700 Crores in the unlisted market. <br /><br /><strong>3.</strong> With this investment, Tiger Global is diversifying beyond its current emphasis on the internet commerce industry, where it is recognised for supporting firms like Flipkart, and entering India's athletic economy. <br /><br /><strong>4.</strong> The transaction may involve a direct or indirect money infusion, with Tiger Global maybe supporting one of the Rajasthan Royals' current shareholders. <br /><br /><strong>5.</strong> Manoj Badale, a UK-based investor who owns more than 60% of the shares of the franchise, is the owner of Rajasthan Royals' parent company, Emerging Media. <br /><br /><strong>6.</strong> Tiger Global has been looking into IPL opportunities and conversing with other teams as well. <br /><br /><strong>7.</strong> The Rajasthan Royals' stock was purchased by US-based RedBird Capital in 2021, valuing the organisation at more than $250 million. While a representative for Tiger Global declined to comment, the executive chairperson of the Rajasthan Royals said there were no active transactions when contacted for comment. <br /><br /><strong>8.</strong> Current investments of Tiger Global in India include well-known digital businesses like Flipkart, Ola, Zomato, and Delhivery. Tiger Global also owns a share in Dream Sports, the organisation that runs the online fantasy game website Dream11, in addition to holding assets in the quick-service restaurant chain Wow! Momo and the tea brand Chaayos. <br /><br /><strong>9.</strong> In contrast to the US, UK, and Europe, where institutional money have been active investors in sports leagues, this trend is only now beginning to take hold in India. CVC Capital Partners was the first private equity company to purchase an IPL team in 2021. <br /><br /><strong>10.</strong> Tiger worldwide's proposed investment in the Rajasthan Royals is viewed as an opportunity and is unrelated to recent losses the company suffered in its worldwide IT portfolio. <br /><br /><strong>11.</strong> The value of the IPL has significantly increased, growing by 75% in terms of dollars since 2020 to reach $10.9 billion in 2022. The Board of Control for Cricket in India (BCCI), which inked a $6.2-billion media rights contract, and the auction of two new IPL clubs, Gujarat Titans and Lucknow Super Giants, for a combined $1.6-billion worth, are credited with the valuation increase. The IPL's valuation, which increased by 90% in rupee terms, was calculated using the discounted cash flow (DCF) approach by the consulting company D and P Advisory. Disney Star purchased the broadcast rights for Rs 23,575 crore, and Viacom18 purchased the digital rights for Rs 23,758 crore over a five-year term. The media rights were acquired separately for television and internet platforms.</p>
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