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Blog10 Mar 2024

Top 5 Unlisted Shares of 2024 in India

<h3>1. NCL Buildtech Unlisted Share</h3> A) Business Model: <ol> <li style="font-weight: 400;" aria-level="1">Coatings (Paints)</li> <li style="font-weight: 400;" aria-level="1">Walls (AAC Blocks)</li> <li style="font-weight: 400;" aria-level="1">Window/Doors</li> </ol> B) Segment Wise Break-up FY 2023 (In Crores) <table style="width: 61.6555%;"> <tbody> <tr> <td style="width: 24.1319%; text-align: center;"> Particulars </td> <td style="width: 24.6178%; text-align: center;"> Coatings (22.55%) </td> <td style="width: 20.2449%; text-align: center;"> Walls (27.76%) </td> <td style="width: 26.0725%; text-align: center;"> Windoors( 49.69%) </td> <td style="width: 5.18563%; text-align: center;"> Total </td> </tr> <tr> <td style="width: 24.1319%; text-align: center;"> Segment Revenue(India) </td> <td style="width: 24.6178%; text-align: center;"> 101.55 </td> <td style="width: 20.2449%; text-align: center;"> 125.01 </td> <td style="width: 26.0725%; text-align: center;"> 223.78 </td> <td style="width: 5.18563%; text-align: center;"> 450.34 </td> </tr> </tbody> </table> Raw Materials: The prices of raw materials account for 50-60% of total sales. C) Industry Analysis: Paint Industry: (i) Industry Structure: India Paints and Coatings Market in 2024 is USD 9.60 Billion and expected USD 15.04 Billion in 2029 with a CAGR of 9.38%. Market concentration is high and major players in the market are Asian Paints, Berger, Kansai Nerolac, Nippon paint and Akzonobel. Grasim Industries is also entering the paints sector with investment of INR 10,000 crores. Asian Paints has  also planned investments of ₹ 8,750 Crores over the next 3 years. (ii) Operating Margins: The anticipated growth in FY24 is accompanied by expected improvements in operating margins. These improvements, ranging from 100 to 200 basis points, are attributed to the decline in prices of critical raw materials and the price increase undertaken by key industry players during FY23 and Q1FY24. (iii) Competitive Intensity: Long-term competitive intensity in the industry is expected to escalate due to the entry of new players such as Grasim Industries, Pidilite, and JSW Paints. Over the next three to four years, the industry is projected to augment its capacity by 20% of the current levels. However, this expansion will exert pressure on the margins of top players. (iv) Consumption Trends: Decorative paints hold a majority share, contributing to about 70% of the market. Industrial paints account for the remaining 30%. Demand dynamics are largely shaped by the real estate sector, which commands approximately 70% of the total market demand. Factors such as a rise in repainting activities, housing sales, and growing aspirations among people contribute to the demand for decorative paints. AAC Block Industry: Since its inception in the 1920s, AAC blocks have gained popularity across the world due to their unique properties, including thermal insulation, fire resistance, and sound insulation. As of now, over 92 million CBM AAC blocks have been produced in India, saving approximately 106 million tons of CO2 emissions and reducing energy consumption by 22.15 GW. The worldwide total AAC blocks market size is $18.5 billion which is growing at a CAGR of 6.7%. The total market size of AAC blocks in India is around $675 million, and it is expected to grow at a CAGR of 18% in the coming years. Window/Doors Industry:  The present Indian doors and window market is worth between Rs 12,000 crore and Rs 15,000 crore. D) Financial Performance of NCL Buildtek Unlisted Share <table style="width: 47.6882%;"> <tbody> <tr> <td style="text-align: center; width: 52.5721%;"> Particulars </td> <td style="text-align: center; width: 12.1481%;">  Mar-20 </td> <td style="text-align: center; width: 12.3576%;"> Mar-21 </td> <td style="text-align: center; width: 10.8914%;"> Mar-22 </td> <td style="text-align: center; width: 12.1481%;"> Mar-23 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> Revenue(In Cr.) </td> <td style="text-align: center; width: 12.1481%;"> 285 </td> <td style="text-align: center; width: 12.3576%;"> 264 </td> <td style="text-align: center; width: 10.8914%;"> 407 </td> <td style="text-align: center; width: 12.1481%;"> 450 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> EBITDA Margin </td> <td style="text-align: center; width: 12.1481%;"> 12.35% </td> <td style="text-align: center; width: 12.3576%;"> 6.88% </td> <td style="text-align: center; width: 10.8914%;"> 8.06% </td> <td style="text-align: center; width: 12.1481%;"> 10.26% </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> NP Margin </td> <td style="text-align: center; width: 12.1481%;"> 6.97% </td> <td style="text-align: center; width: 12.3576%;"> -2.53% </td> <td style="text-align: center; width: 10.8914%;"> 1.97% </td> <td style="text-align: center; width: 12.1481%;"> 3% </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> Interest Coverage Ratio </td> <td style="text-align: center; width: 12.1481%;"> 3.04 </td> <td style="text-align: center; width: 12.3576%;"> 0.58 </td> <td style="text-align: center; width: 10.8914%;"> 2.04 </td> <td style="text-align: center; width: 12.1481%;"> 2.11 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> D/E Ratio </td> <td style="text-align: center; width: 12.1481%;"> 0.76 </td> <td style="text-align: center; width: 12.3576%;"> 0.64 </td> <td style="text-align: center; width: 10.8914%;"> 0.68 </td> <td style="text-align: center; width: 12.1481%;"> 0.55 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> Current Ratio </td> <td style="text-align: center; width: 12.1481%;"> 1.25 </td> <td style="text-align: center; width: 12.3576%;"> 1.26 </td> <td style="text-align: center; width: 10.8914%;"> 1.14 </td> <td style="text-align: center; width: 12.1481%;"> 1.21 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> EPS </td> <td style="text-align: center; width: 12.1481%;"> 17.13 </td> <td style="text-align: center; width: 12.3576%;"> (6.23) </td> <td style="text-align: center; width: 10.8914%;"> 2.04 </td> <td style="text-align: center; width: 12.1481%;"> 16.66 </td> </tr> <tr> <td style="text-align: center; width: 52.5721%;"> Return on Net Worth </td> <td style="text-align: center; width: 12.1481%;"> 13.13% </td> <td style="text-align: center; width: 12.3576%;"> (3.71)% </td> <td style="text-align: center; width: 10.8914%;"> 7.73% </td> <td style="text-align: center; width: 12.1481%;"> 11.74% </td> </tr> </tbody> </table> E) Valuation: In the Unlisted Market it is available at P/E of 16.50 based on FY23 earnings and Market Capatization of INR 318 Cr.  For More Details, Please Visit <a href="https://unlistedzone.com/shares/buy-sell-share-price-ncl-alltek-seccolor-limited-unlisted-shares">https://unlistedzone.com/shares/buy-sell-share-price-ncl-alltek-seccolor-limited-unlisted-shares</a> <h3> 2. Sterlite Power Transmission Unlisted Share</h3> a) Business lines of the company: Infra: Develops intra and interstate greenfield power transmission infrastructure on ’Build-Own-Operate- Transfer (BOOT)’ model. B) Global Products & Services:  (i) Manufacturing of high-performance power conductors, Extra High Voltage (EHV) cables & Optical Ground Wire (OPGW); enjoys market leadership in India and exports to over 70 countries (ii) Engineering, Procurement & Construction (EPC) and System Integration services for Power sector covering upgrade, uprate, and fiberization (OPGW) of existing power transmission infrastructure of State Transcos. (iii) Convergence: Development and Aggregation of OPGW based Optical Fibre Telecom Infra and monetization of the same; only private, neutral, and independent OPGW Fiberco in the country. B) Industry Analysis: The power transmission system typically comprises transmission lines, sub-stations, switching stations, transformers and distribution lines. There has been a consistent increase in the transmission capacity in the country over the years with length of transmission lines increasing from 2,75,530 circuit kilometre (ckm) as on August 31, 2012, to 4,62,485 ckm as on August 31, 2022. The transformation capacity stood at 11,34,462 Mega Volt Ampere (MVA) as on August 31, 2022.  C) Financial Performance of Sterlite Power Unlisted Share <table> <tbody> <tr> <td style="text-align: center;"> Particulars </td> <td style="text-align: center;"> Fy21 </td> <td style="text-align: center;"> Fy22 </td> <td style="text-align: center;"> FY23 </td> <td style="text-align: center;"> Fy24 </td> </tr> <tr> <td style="text-align: center;"> Revenue (In Cr.) </td> <td style="text-align: center;"> 2,092 </td> <td style="text-align: center;"> 5,197 </td> <td style="text-align: center;"> 6,297 </td> <td style="text-align: center;"> 5,365 </td> </tr> <tr> <td style="text-align: center;"> EBITDA Margin </td> <td style="text-align: center;"> 85.70% (High due to Special income) </td> <td style="text-align: center;"> 26.05% </td> <td style="text-align: center;"> 18.26% </td> <td style="text-align: center;"> 6.65% </td> </tr> <tr> <td style="text-align: center;"> NP Margin </td> <td style="text-align: center;"> 41.57% (High due to Special income) </td> <td style="text-align: center;"> 8.47% </td> <td style="text-align: center;"> (0.52%) </td> <td style="text-align: center;"> </td> </tr> <tr> <td style="text-align: center;"> Interest Coverage Ratio </td> <td style="text-align: center;"> 2.95 </td> <td style="text-align: center;"> 2.99 </td> <td style="text-align: center;"> 1.44 </td> <td style="text-align: center;"> </td> </tr> <tr> <td style="text-align: center;"> D/E Ratio </td> <td style="text-align: center;"> 2.53 </td> <td style="text-align: center;"> 1.25 </td> <td style="text-align: center;"> 3.06 </td> <td style="text-align: center;"> </td> </tr> <tr> <td style="text-align: center;"> Current Ratio </td> <td style="text-align: center;"> 0.92 </td> <td style="text-align: center;"> 1.15 </td> <td style="text-align: center;"> 0.95 </td> <td style="text-align: center;"> </td> </tr> <tr> <td style="text-align: center;"> EPS </td> <td style="text-align: center;"> 142.16 </td> <td style="text-align: center;"> 35.97 </td> <td style="text-align: center;"> (2.67) </td> <td style="text-align: center;"> </td> </tr> <tr> <td style="text-align: center;"> Return on Net Worth </td> <td style="text-align: center;"> 79.31% (High due to Special income ) </td> <td style="text-align: center;"> 25.91% </td> <td style="text-align: center;"> (2.16%) </td> <td style="text-align: center;"> </td> </tr> </tbody> </table> D) Demerger of Sterlite Power Unlisted Share <a href="https://twitter.com/UnlistedZone/status/1764291404749263114">https://twitter.com/UnlistedZone/status/1764291404749263114</a> E) Valuation of Sterlite Power Unlisted Shares In the unlisted market, it is available at INR 6600 Cr which looks undervalued.  For More Details, Please Visit <a href="https://unlistedzone.com/shares/sterlite-power-transmission-limited-share-price-buy-sell-unlisted-shares-of-sterlite-power-transmission">https://unlistedzone.com/shares/sterlite-power-transmission-limited-share-price-buy-sell-unlisted-shares-of-sterlite-power-transmission</a> <h3>3. NSE India Unlisted Share</h3> A) Business Model: The National Stock Exchange of India Limited (NSE) is identified as the world's largest derivatives exchange for the fourth consecutive year, the third largest stock exchange globally, and the largest stock exchange in India. Established as a completely Indian brand in 1992 and commencing operations in 1994 after receiving recognition from SEBI, NSE has played a crucial role in India's economic development. It provides a platform for companies to raise capital and for investors to engage in the stock market, notably pioneering the introduction of electronic trading to enhance technology innovation and transparency within its market ecosystem. The business segments of the National Stock Exchange of India Limited (NSE) are broadly categorised into the following areas: Equity: This includes the Equity Market, Exchange Traded Funds (ETFs), Indices, Mutual Funds, Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), Securities Lending & Borrowing Scheme, Sovereign Gold Bonds, Initial Public Offerings (IPOs), Institutional Placement Program (IPP), and Offer for Sale. Derivatives: This segment comprises Equity Derivatives, Commodity Derivatives, Currency Derivatives, and Interest Rate Derivatives. Fixed Income and Debt: It involves Corporate Bonds, Electronic Debt Bidding Platform (EBP), Negotiated Trade Reporting Platform, Non-Competitive Bidding in Government Securities, and Tri-party Repo. B) Industry Analysis: The industry in which the National Stock Exchange of India Limited (NSE) operates is the financial services industry, specifically in the segment of capital markets. This industry encompasses trading and investment platforms for various financial instruments such as equities, bonds, derivatives, and currency.  The future growth of this industry is poised to be influenced by several key factors, including technological advancements that improve trading efficiency and accessibility, regulatory changes that ensure market stability and transparency, and increasing domestic and international investor participation. The integration of digital technologies, such as blockchain and artificial intelligence, is expected to further revolutionise the trading landscape, enhancing the security and speed of transactions.  Additionally, the expanding middle class in India, coupled with greater financial literacy, is likely to drive higher participation in capital markets, contributing to the industry's growth.Indian equities out performed global peers significantly. Domestic institutional investors remained net buyers in the equity market, supported by increased retail participation through SIPs. C) Financial Performance of NSE Unlisted Shares  <table style="width: 47.2892%;"> <tbody> <tr> <td style="text-align: center; width: 36.7525%;"> Particulars </td> <td style="text-align: center; width: 12.6733%;"> FY21 </td> <td style="text-align: center; width: 12.6733%;"> Fy22 </td> <td style="text-align: center; width: 12.6733%;"> FY23 </td> <td style="text-align: center; width: 25.1353%;"> 9MFy24  </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> Revenue (In Cr.) </td> <td style="text-align: center; width: 12.6733%;"> 5,624 </td> <td style="text-align: center; width: 12.6733%;"> 8,313 </td> <td style="text-align: center; width: 12.6733%;"> 11,856 </td> <td style="text-align: center; width: 25.1353%;"> 10,155 </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> EBITDA Margin </td> <td style="text-align: center; width: 12.6733%;"> 83.40% </td> <td style="text-align: center; width: 12.6733%;"> 88.31% </td> <td style="text-align: center; width: 12.6733%;"> 87.93% </td> <td style="text-align: center; width: 25.1353%;"> 81.50% </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> NP Margin </td> <td style="text-align: center; width: 12.6733%;"> 63.52% </td> <td style="text-align: center; width: 12.6733%;"> 62.53% </td> <td style="text-align: center; width: 12.6733%;"> 62.05% </td> <td style="text-align: center; width: 25.1353%;"> 52% </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> Interest Coverage Ratio </td> <td style="text-align: center; width: 12.6733%;"> High </td> <td style="text-align: center; width: 12.6733%;"> High </td> <td style="text-align: center; width: 12.6733%;"> High </td> <td style="text-align: center; width: 25.1353%;"> High </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> D/E Ratio </td> <td style="text-align: center; width: 12.6733%;"> 0 </td> <td style="text-align: center; width: 12.6733%;"> 0 </td> <td style="text-align: center; width: 12.6733%;"> 0 </td> <td style="text-align: center; width: 25.1353%;"> 0 </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> Current Ratio </td> <td style="text-align: center; width: 12.6733%;"> 1.51 </td> <td style="text-align: center; width: 12.6733%;"> 1.71 </td> <td style="text-align: center; width: 12.6733%;"> 2.14 </td> <td style="text-align: center; width: 25.1353%;"> ------- </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> EPS </td> <td style="text-align: center; width: 12.6733%;"> 72.20 </td> <td style="text-align: center; width: 12.6733%;"> 104.95 </td> <td style="text-align: center; width: 12.6733%;"> 148.58 </td> <td style="text-align: center; width: 25.1353%;"> 117.54 </td> </tr> <tr> <td style="text-align: center; width: 36.7525%;"> Return on Net Worth </td> <td style="text-align: center; width: 12.6733%;"> 30.71% </td> <td style="text-align: center; width: 12.6733%;"> 33.72% </td> <td style="text-align: center; width: 12.6733%;"> 35.92% </td> <td style="text-align: center; width: 25.1353%;"> ------- </td> </tr> </tbody> </table> D) Valuation of NSE Unlisted Share In the Unlisted Market it is available at P/E of 29 based on expected FY24 earnings and Market Capatization of INR 237600 Cr.  For More Details, Please Visit <a href="https://unlistedzone.com/shares/nse-india-limited-unlisted-shares">https://unlistedzone.com/shares/nse-india-limited-unlisted-shares</a> <h3>4. RRP S4E INNOVATIONS Unlisted Share</h3> A) Business Model: The company specialises in electro-optics and precision engineering, focusing on developing advanced technological solutions. Their portfolio includes innovative work in nano-machining and a strong emphasis on research and development in areas critical to enhancing the capabilities and applications of electro-optic technologies.  B) Products Portfolio: Company currently working under two segments: (i) Repairs of electro optics (Thermal Camera): Company having with its own technology also importing latest modules/designs for repairing and updating old one electro optics. (ii) Air Purifier Monitoring System: Manufacturing air purifying system for confined places such as small rooms and in cars. ( FY23  The company is planning to expand into new segments in the future. > Anti Drone System: Company is planning to acquire technology from Israel for this. As per management margins will be high in this segment as compared to electro optics segments.  > Drone Cameras > Drones specifically made for Solar Panel Cleaning and for finding wind mill defects.  Some Key Points from management interview: > Company expecting revenue of Rs. 45 to 50 cr in FY 2024 and Rs. 100 cr in FY 2025. Peers: > BEL >Tonbo Imaging Private Limited > Tata Advanced Systems Limited     C) Industry Analysis: The electro-optics and precision engineering sector is a highly specialised industry that encompasses the development and manufacturing of advanced optics and electronic systems. It's closely tied to defence, aerospace, and surveillance sectors, serving critical needs in national security and scientific exploration. The industry is marked by high barriers to entry due to the technical knowledge required and is driven by innovation and intellectual property, with a strong focus on research and development. Global trends show increasing demand for advanced surveillance equipment, thermal imaging, and night vision technology, reflecting heightened security measures and technological advancements in civilian and military applications. The sector also sees significant investment in the development of lightweight and more sophisticated equipment, with companies striving to offer unique and proprietary products. D) Pre-IPO Round Recently, company has raised Pre-IPO round at INR 250 per share and company is planning to list its company in the SME Platform this year.  E) Financial Performance: <table style="width: 29.7303%;"> <tbody> <tr> <td style="width: 58.4993%; text-align: center;"> Particulars </td> <td style="width: 20.8446%; text-align: center;"> FY22 </td> <td style="width: 20.8446%; text-align: center;"> FY 23 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> Revenue (In Cr.) </td> <td style="width: 20.8446%; text-align: center;"> 38.31 </td> <td style="width: 20.8446%; text-align: center;"> 31.20 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> EBITDA Margin </td> <td style="width: 20.8446%; text-align: center;"> 32.13% </td> <td style="width: 20.8446%; text-align: center;"> 52.72% </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> NP Margin </td> <td style="width: 20.8446%; text-align: center;"> 16.24% </td> <td style="width: 20.8446%; text-align: center;"> 27.34% </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> Interest Coverage Ratio </td> <td style="width: 20.8446%; text-align: center;"> 10.37 </td> <td style="width: 20.8446%; text-align: center;"> 6.79 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> D/E Ratio </td> <td style="width: 20.8446%; text-align: center;"> 0.12 </td> <td style="width: 20.8446%; text-align: center;"> 0.07 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> Current Ratio </td> <td style="width: 20.8446%; text-align: center;"> 2.15 </td> <td style="width: 20.8446%; text-align: center;"> 1.79 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> EPS </td> <td style="width: 20.8446%; text-align: center;"> 13.05 </td> <td style="width: 20.8446%; text-align: center;"> 15.89 </td> </tr> <tr> <td style="width: 58.4993%; text-align: center;"> Return on Net Worth </td> <td style="width: 20.8446%; text-align: center;"> 14% </td> <td style="width: 20.8446%; text-align: center;"> 13.57 </td> </tr> </tbody> </table> F) Valuation: In the Unlisted Market it is available at P/E of 18x based on expected FY24 earnings and Market Capatization of INR 161 Cr.  For More Details, Please Visit <a href="https://unlistedzone.com/shares/rrp-s4e-innovation-unlisted-shares-price">https://unlistedzone.com/shares/rrp-s4e-innovation-unlisted-shares-price</a> 5. Goodluck Defence and Aerospace Unlisted Share A) Business Model: The business model of Defence and Aerospace Pvt. Ltd. focuses on the manufacturing and sales of 155mm HE HE BB Shell Bodies, a product crucial in modern warfare for its balance between range and warhead size. These shells, widely used due to their effectiveness in various military applications, have a length of 600mm, a diameter of 155mm, and weigh about 45Kgs. The investment in this product line is seen as a strategic move for diversification and sustained growth, leveraging the company's core competencies in forging and machining. With an expression of interest from Adani Defence & Aerospace for 33% of the total annual production (50,000 units), and the freedom to sell the remaining quantity in the open market, the company positions itself favourably in both domestic and global markets. In summary, Defence and Aerospace Pvt. Ltd.'s business model capitalises on the sustained demand for 155mm shells, strategic partnerships, and a competitive edge in manufacturing. The model is designed for growth, leveraging global market opportunities, and aligns with national initiatives to bolster indigenous defence production capabilities. B) Industry Analysis: (i) Market Demand: The demand for 155mm artillery shells is robust and consistent, driven by their widespread use across over 75 armies worldwide. These shells are a critical component of modern military arsenals, offering versatility in applications from high-explosive payloads to smoke and illumination. The ongoing conflict in Ukraine, where thousands of these shells are used daily, exemplifies the high demand. (ii) Competition The competitive landscape in the defence manufacturing industry, particularly for 155mm shells, is marked by both international and domestic players. (iii) Technological Advancements Technological innovation is a critical driver in the defense manufacturing industry. The development of precision-guided munitions, enhanced explosive materials, and improved shell designs for increased range and effectiveness are pivotal. Companies that invest in R&D to improve product performance and adapt to evolving military requirements are better positioned to compete. (iv) Global and Domestic Policies The defence sector is significantly influenced by government policies, including defence spending, import-export regulations, and indigenous manufacturing initiatives. The "Make in India" campaign, aimed at promoting domestic manufacturing, benefits companies by encouraging local production and procurement. (v) Supply Chain Dynamics The defence manufacturing supply chain involves stringent quality standards, regulatory compliance, and reliable delivery schedules. Companies must manage raw material sourcing, production processes, and logistics efficiently to meet the demands of military procurement. (vi) Future Outlook The industry's future prospects remain positive, with sustained demand driven by global security concerns and military modernization programs. However, companies must navigate challenges such as fluctuating raw material prices, geopolitical tensions, and evolving military technologies. Diversification into related product lines, international market expansion, and continuous innovation are key strategies for long-term success. C) Financial Performance of Goodluck Defence and Aerospace Unlisted Share Company is incorporated in August 2023 that’s why past financial data is not available to assess its performance. However, the company's management has provided its projections as follows: ( Fig, In Cr ) <table style="width: 28.9322%;"> <tbody> <tr> <td style="text-align: center; width: 29.713%;"> Particulars </td> <td style="text-align: center; width: 16.584%;"> Year1 </td> <td style="text-align: center; width: 17.966%;"> Year2 </td> <td style="text-align: center; width: 17.966%;"> Year3 </td> <td style="text-align: center; width: 17.966%;"> Year4 </td> </tr> <tr> <td style="text-align: center; width: 29.713%;"> Revenue </td> <td style="text-align: center; width: 16.584%;"> 315 </td> <td style="text-align: center; width: 17.966%;"> 448 </td> <td style="text-align: center; width: 17.966%;"> 521 </td> <td style="text-align: center; width: 17.966%;"> 568.90 </td> </tr> <tr> <td style="text-align: center; width: 29.713%;"> EBITDA </td> <td style="text-align: center; width: 16.584%;"> 99.25 </td> <td style="text-align: center; width: 17.966%;"> 169.97 </td> <td style="text-align: center; width: 17.966%;"> 214.02 </td> <td style="text-align: center; width: 17.966%;"> 249.36 </td> </tr> <tr> <td style="text-align: center; width: 29.713%;"> EBITDA % </td> <td style="text-align: center; width: 16.584%;"> 31.51 </td> <td style="text-align: center; width: 17.966%;"> 37.94 </td> <td style="text-align: center; width: 17.966%;"> 41.08 </td> <td style="text-align: center; width: 17.966%;"> 43.83 </td> </tr> <tr> <td style="text-align: center; width: 29.713%;"> PAT % </td> <td style="text-align: center; width: 16.584%;"> 16.96 </td> <td style="text-align: center; width: 17.966%;"> 23.98 </td> <td style="text-align: center; width: 17.966%;"> 27.13 </td> <td style="text-align: center; width: 17.966%;"> 29.65 </td> </tr> </tbody> </table> D) Valuation: In the Unlisted Market, it is available at Market Capatization of ~INR 1500 Cr.  For More Details, Please Visit <a href="https://unlistedzone.com/shares/goodluck-defence-and-aerospace-unlisted-share-price">https://unlistedzone.com/shares/goodluck-defence-and-aerospace-unlisted-share-price</a>

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Blog7 Mar 2024

Oravel Stays Ltd, the parent Company of OYO, Ventures into Premium Hospitality with Palette Brand

Oravel Stays Ltd, the parent company of OYO, a prominent player in the hospitality industry, has revealed its ambitious plans to introduce a series of self-operated premium hotels under the Palette brand. This strategic initiative marks a significant expansion beyond OYO's traditional offerings, focusing on the upscale hospitality segment. The journey begins with the announcement of launching 13 self-operated hotels under the Palette brand by the year's end, starting with the inaugural establishment in Morbi, Gujarat. This carefully chosen location underscores Oravel Stays' keen understanding of market dynamics, as Morbi emerges as a thriving economic center, particularly renowned for its ceramic industry. The new Palette hotel in Morbi will feature 48 meticulously designed rooms, catering to the discerning needs of business travelers amidst the region's rapid economic growth. With direct operational control, Oravel Stays aims to ensure an exceptional guest experience, aligning with its commitment to excellence in service delivery. Aditya Sharma, the Business Head at Oravel Stays, expressed excitement about the venture, highlighting Morbi's significance as a key market for the company's expansion. Sharma emphasized the pivotal role the new establishment would play in offering premium hospitality services and contributing to Morbi's growing economic narrative. Morbi's status as India's ceramic capital further underscores its strategic importance, with over 800 tile factories accounting for a significant portion of the country's tile production. The district's substantial annual turnover highlights its economic strength and potential for further development. Additionally, Gujarat's proactive measures, including the upcoming operationalization of a ceramics park, demonstrate the government's commitment to fostering investment and infrastructure growth in the sector. This forward-thinking approach positions Morbi for significant growth, reaffirming Oravel Stays' decision to establish its presence in this vibrant locale. Oravel Stays' entry into the premium hospitality segment with the Palette brand represents a strategic evolution in its business model, diversifying its portfolio beyond conventional offerings. This move underscores the company's adaptability and innovation, reinforcing its commitment to providing exceptional experiences to guests. Furthermore, this expansion comes as Oravel Stays prepares for a potential public listing by the end of the year. The recent announcement of consecutive profitable quarters further solidifies its position as a significant player in the hospitality industry, backed by notable investors such as SoftBank, Airbnb, and Lightspeed Venture Partners. With a focus on expansion and innovation, Oravel Stays continues to reshape the hospitality landscape, promising to set new standards of luxury and excellence with the Palette brand. As the brand embarks on its journey, it aims to leave a lasting impression on the global hospitality sector.

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Blog7 Mar 2024

CIAL Unveils Increased Flights and New Routes for 2024

Cochin International Airport Ltd (CIAL) has revealed its forthcoming summer schedule, slated to operate from March 31 to October 26, boasting a significant uptick in weekly operations compared to the existing timetable. This strategic summer schedule aims to meet the growing demand from travelers and incorporates the introduction of supplementary domestic services to various destinations like Agatti, Hyderabad, and Bengaluru. The revised schedule will showcase a diverse array of 29 airlines, with 26 of them specializing in international routes. Indigo takes the lead with 49 weekly departures to international destinations, closely pursued by Air India Express with 41 departures per week. Particularly noteworthy is the abundance of 66 weekly departures to Abu Dhabi alone, solidifying its position as a pivotal hub. Doha and Dubai also feature prominently, with 46 and 45 weekly operations from Kochi, respectively. Thai Airways is poised to launch tri-weekly premium flights to Bangkok Suvarnabhumi airport, while Thai Lion Air will operate daily flights to Bangkok Don Mueang airport. Akasa Air is primed to make its debut in the international sector with daily flights to Abu Dhabi, Riyadh, and Jeddah. Furthermore, Etihad will ramp up its weekly flights to Abu Dhabi, while AirAsia Berhad plans to incorporate five additional weekly flights to Kuala Lumpur. Indigo and SpiceJet are also expanding their services, with extra flights to Doha and Male, respectively. Air India's services to London Gatwick airport are set to receive a boost with an additional weekly flight, enhancing its connectivity options. Jazeera Airways is also set to bolster its services with two supplementary weekly flights to Kuwait and Jeddah, thereby enriching travel options for passengers departing from Cochin International Airport.

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Blog5 Mar 2024

Tata Capital Ventures into Overseas Fundraising worth $750 Million

Tata Capital, a leading non-bank financial company (NBFC) under the esteemed Tata Group umbrella, is venturing into uncharted territory with its inaugural overseas fundraising initiative. Eyeing a substantial sum of approximately $750 million through offshore bonds or loans in the upcoming fiscal year starting in April, the company is strategically diversifying its liability base by tapping into international capital markets. This bold move comes amidst a shifting landscape where Indian corporates are increasingly seeking opportunities beyond domestic borders to secure financing. Fueled by favorable market conditions and evolving investor interest, Tata Capital's decision underscores a strategic shift towards accessing a broader spectrum of funding sources. Rakesh Bhatia, the Chief Financial Officer of Tata Capital, emphasized the company's proactive stance in exploring overseas borrowing avenues, particularly dollar-denominated bonds, citing growing interest from global investors in Indian corporate debt. This strategic alignment not only supports Tata Capital's growth aspirations but also mirrors a broader trend within India's financial sector, where companies are leveraging global capital markets to fuel expansion initiatives. Despite the challenges posed by recent fluctuations in global interest rates, exemplified by Federal Reserve rate hikes, the resurgence of fundraising activities among Indian entities signals resilience and adaptability within the market. Recent successes, such as State Bank of India, HDFC Bank, and Shriram Housing Finance collectively raising $2.1 billion via dollar bonds in early 2024, underscore renewed investor confidence in Indian corporates. Tata Capital's decision to explore overseas markets is further bolstered by its recent credit ratings from S&P Global Ratings and Fitch Ratings, securing a BBB- issuer rating. With a substantial loan book exceeding 1.5 trillion rupees ($18.1 billion), the company sets ambitious targets for growth, projecting over a 25% increase in both loan book size and borrowing requirements for the upcoming fiscal year. Despite regulatory challenges, including stringent capital adequacy norms and liquidity constraints, Tata Capital remains resolute in its pursuit of growth and financial stability. As liquidity conditions evolve, the company demonstrates agility in navigating the dynamic bond market landscape, optimizing asset-liability management strategies to mitigate risks and seize emerging opportunities. As Tata Capital embarks on its maiden overseas fundraising journey, the initiative underscores not only the company's strategic vision but also its confidence in the resilience of Indian corporates amidst a changing global economic landscape. With unwavering determination and robust fundamentals, Tata Capital is poised to carve a significant presence on the international financial stage, solidifying its position as a key player in the global financial ecosystem.

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Blog5 Mar 2024

B9 Beverages Strengthens Financial Footing with Tiger Pacific Capital's Backing

Tiger Pacific Capital, a private equity firm, has recently acquired approximately 4% of B9 Beverages, the renowned maker of Bira 91 beer and owner of The Beer Cafe chain, investing a substantial $35 million. According to knowledgeable executives within the company, this move signals a step towards a potential stock market listing in the future. Ankur Jain, the CEO of B9 Beverages, expressed enthusiasm about the strategic partnerships and involvement of reputable financial sponsors from Japan, New York, and India, which he believes set their capital structure apart. He emphasized how this diversified support enables the company to harness various strengths, capital resources, and business prospects across different regions. However, Jain refrained from commenting on any specific IPO plans at this time. Highlighting the significance of this investment, another executive familiar with the matter mentioned that Tiger Pacific Capital represents the first crossover fund to join B9 Beverages' investor base. The infusion of funds is aimed at bolstering B9's financial foundation and accessing new investor networks that focus on both pre-IPO ventures and listed securities.

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Blog5 Mar 2024

Bira91 Teams Up with Crocs for Exciting New Release

Crocs, a globally recognized brand known for its innovative and casual footwear designs, is gearing up to introduce an exciting limited-edition collaboration with the Bira91 Merch store. This marks Crocs' second collaboration venture in India, as it partners with Bira91 to emphasize their shared commitment to nurturing creativity and imagination. The exclusive Bira91XCrocs Classic Unisex Clog, tailored specifically for the urban Indian market, embodies Crocs' ethos of inclusivity and the celebration of uniqueness. This collaboration provides a platform to showcase India's creative talents, honoring the essence of artistic freedom and innovation. Sumit Dhingra, Vice President & General Manager of Crocs India & SEA, expressed the brand's dedication to contributing to India's creative scene by teaming up with influential cultural figures. The Bira91XCrocs collaboration reflects Bira91's dynamic spirit and Crocs' dedication to empowering self-expression. To introduce the collaboration, Crocs has collaborated with leading creative talents in India to produce an engaging teaser video. Enhanced with captivating music, the video showcases vibrant illustrations by artist Nori Norbhu, adding visual flair. Each artist was carefully selected for their distinctive style and significant impact on India's cultural landscape. Ankur Jain, Founder and CEO of Bira 91, shared his enthusiasm for the partnership with Crocs, underscoring their mutual values of creativity, playfulness, and vibrancy. The limited-edition Bira91XCrocs Classic Unisex Clogs aim to blend the essence of both brands, offering consumers a unique experience that transcends boundaries. The highly anticipated collection is scheduled for an official launch on June 17th, exclusively available on the official Crocs web store. Priced at INR 5995, the Bira91 X Crocs Classic Unisex Clogs will be sold at select Crocs stores, Superkicks.in, www.crocs.com, the Bira91 Merch store, and vegnonveg.com.

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Blog5 Mar 2024

Sterlite Power Bags Funding for Beawar Transmission Project

Sterlite Power recently secured a significant financial boost of ₹2,400 Crore from the state-owned REC Power Development and Consultancy Ltd (RECPDCL) for its Beawar transmission project in Rajasthan. In a recent statement, Sterlite Power announced the successful achievement of financial closure for its Beawar Transmission Limited (BTL) project, just four months after its acquisition. This accomplishment signifies a pivotal milestone in the life cycle of infrastructure projects. The prompt attainment of this milestone is expected to accelerate the timely completion of the crucial project, which plays an integral role in the broader Green Energy Corridor initiative aimed at evacuating approximately 20 GW of renewable energy, as highlighted by Pratik Agarwal, Managing Director of Sterlite Power. Sterlite Power acquired the BTL SPV in September 2023 to execute the interstate green energy transmission project under a BOOT (build, own, operate, transfer) framework for a duration of 35 years. The project involves the development of a 350-kilometer, 765-kV transmission route connecting Fatehgarh III's renewable energy zone to a proposed substation in Beawar, along with the installation of a 3000 MVA 765/400kV substation in Beawar. With a robust portfolio comprising 33 transmission projects in India and Brazil, including completed, sold, and ongoing initiatives, totaling 15,350 circuit kilometers of transmission lines, Sterlite Power holds a significant position in the sector. Furthermore, Sterlite Power's innovative solutions effectively address spatial and temporal constraints. It supplies high-quality power conductors, EHV cables, and OPGW conductors to over 40 countries worldwide. Additionally, its Convergence division aims to utilize existing power transmission infrastructure to extend reliable telephone and internet access to both rural and urban areas nationwide.

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Blog28 Feb 2024

Waaree Energies and Mahindra Susten Join Forces for Solar Innovation

Waaree Energies Limited recently finalized a significant agreement with Mahindra Susten, a prominent player in the renewable energy sector, for the supply of 280 MW of state-of-the-art solar modules. Specifically, Mahindra Susten opted for Waaree Energies Limited's AHNAY Series, Bi-55 545Wp modules, which boast advanced bifacial Glass-to-Glass technology and an impressive 30-year output performance warranty. This selection reflects Mahindra Susten's commitment to deploying cutting-edge technologies in its renewable energy projects. Waaree Energies Limited's position as India's largest manufacturer of solar PV modules, with a substantial installed capacity of 12 GW, underscores its leadership in the industry. The company's reputation for quality, as evidenced by its NABL approved laboratory, and its proven track record of meeting delivery deadlines were instrumental in securing this partnership. This deal not only signifies a significant milestone for Waaree Energies Limited but also highlights the growing demand for sustainable energy solutions in India's evolving energy landscape. Hitesh Doshi, Chairman & Managing Director of Waaree Energies Limited, expressed satisfaction with the collaboration, underscoring the company's dedication to advancing India's clean energy transition. The delivery of 280 MW of solar modules underscores Waaree Energies Limited's commitment to fostering sustainability through strategic partnerships, further cementing its position as a key player in the renewable energy sector. Similarly, Deepak Thakur, Managing Director & CEO of Mahindra Susten, welcomed the partnership with Waaree Energies Limited, emphasizing the alignment of Waaree's 'Made-in-India' products with their vision of promoting self-reliance in India's projects. Thakur reiterated Mahindra Susten's commitment to driving renewable energy initiatives and contributing to India's sustainable future. With advancements in technology and a focus on sustainability, stakeholders like Waaree Energies Limited and Mahindra Susten are playing pivotal roles in driving the nation's clean energy transition. The deployment of bifacial Glass-to-Glass modules with an extended warranty period reflects a strategic approach towards enhancing energy efficiency and longevity in solar installations. As India continues to prioritize renewable energy development, collaborations like these are poised to shape the future of the country's energy landscape, contributing significantly to its economic and environmental objectives.

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Blog27 Feb 2024

Motilal Oswal Home Finance Limited Q3 FY24 Results

Motilal Oswal Home Finance Limited recently disclosed its Q3 FY24 and nine-month earnings report, showcasing robust financial performance amid a dynamic market landscape. The company achieved a commendable profit of INR 97.8 crores in the first three quarters of the fiscal year, demonstrating resilience and strategic maneuvers. Q3 Financial Performance During Q3, the Net Interest Income (NII) grew by 6% Year over Year (YoY), reaching INR 233.9 crores, with the Net Interest Margin (NIM) standing at 7.7%. These figures underscore the company’s ability to navigate market challenges effectively. Asset Quality and Disbursements As of December 2023, the company reported an Asset Under Management (AUM) of INR 3,780 crores. Disbursements in Q3 FY24 amounted to INR 247 crores, marking a notable 22.2% YoY increase, with the retail disbursement segment witnessing a substantial 50% YoY growth to INR 178 crores. The yield on advances in Q3 reached 14.2%, up by 40 basis points YoY, while maintaining a spread of 5.9%, reflecting the company’s commitment to optimizing its lending operations. While the Cost to Income ratio for 9M FY24 saw a slight increase to 43.1%, the strategic hiring of Sales Relationship Managers (RM) is significant as the company targets an IPO market listing in the near future. The Net Gearing ratio stood at 2.0x in Q3, down from the previous year’s 2.2x, indicating prudent financial management. With a robust Capital to Risk-Weighted Assets Ratio (CRAR) of 47.5%, the company maintains a strong capital adequacy position. Motilal Oswal Home Finance’s creditworthiness was reaffirmed by major rating agencies, holding a stable AA rating. Operating across 111 locations in 12 states, the company has expanded its reach and increased the number of relationship managers to 856. Strategic Initiatives The company aims to enhance productivity by improving Turnaround Time (TAT) and Approval ratios. With new leadership across senior management, the groundwork has been laid for a significant ramp-up in disbursements and AUM growth. In a strategic move towards digitalization, Motilal Oswal Home Finance has revamped its sales and lead management processes, leveraging geotagging and geo-fencing capabilities for fully digital sales operations. The adoption of an end-to-end paperless approval process and an 85% e-signature rate for loan documents underscores the company’s commitment to efficiency and customer-centricity.

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Video27 Feb 2024

Waaree Energies Get BIS Certification For Topcon Module

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Video27 Feb 2024

$50nMillion Funding Round in Bira

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Video27 Feb 2024

2-Minute Dive: Analyzing Hero FinCorp's Financial Performance & Valuation Trends

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Everything we publish

Top 5 Unlisted Shares of 2024 in India

Oravel Stays Ltd, the parent Company of OYO, Ventures into Premium Hospitality with Palette Brand

CIAL Unveils Increased Flights and New Routes for 2024

Tata Capital Ventures into Overseas Fundraising worth $750 Million

B9 Beverages Strengthens Financial Footing with Tiger Pacific Capital's Backing

Bira91 Teams Up with Crocs for Exciting New Release

Sterlite Power Bags Funding for Beawar Transmission Project

Waaree Energies and Mahindra Susten Join Forces for Solar Innovation

Motilal Oswal Home Finance Limited Q3 FY24 Results

Waaree Energies Get BIS Certification For Topcon Module

$50nMillion Funding Round in Bira

2-Minute Dive: Analyzing Hero FinCorp's Financial Performance & Valuation Trends

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