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Blog12 Jul 2023

SBI Mutual Funds Limited FY23 Results Update

SBI Mutual Funds Limited has announced its annual report for the financial year 2023. As per the consolidated financial report, in FY23, the Company clocked 2303 crore revenue from operations as against Rs. 1957 in financial year 2022, indicating an increase of 17%. The net profit of the Company increased to Rs. 1339 crore as against Rs. 1082 crore in FY22, indicating a significant increase of 23%. Statement of Profit and Loss <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> <td>%Change </td> </tr> <tr> <td>Revenue from Operations </td> <td>2303</td> <td>1957</td> <td>+17%</td> </tr> <tr> <td>Employee Benefits </td> <td>326</td> <td>288</td> <td>+13%</td> </tr> <tr> <td>Depreciation and Amortisation </td> <td>33</td> <td>33</td> <td>0%</td> </tr> <tr> <td>Profit Before Tax </td> <td>1770</td> <td>1429</td> <td>+23%</td> </tr> <tr> <td>Profit After Tax </td> <td>1339</td> <td>1082</td> <td>+23%</td> </tr> <tr> <td>EPS</td> <td>26.62</td> <td>21.56</td> <td>+23%</td> </tr> </tbody> </table> Balance Sheet <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> <td>%Change </td> </tr> <tr> <td>Total Assets </td> <td>4983</td> <td>3797</td> <td>+31%</td> </tr> <tr> <td>Total Equity and Liabilities </td> <td>4983</td> <td>3797</td> <td>+31%</td> </tr> </tbody> </table> Cash Flow Statement <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> </tr> <tr> <td>Net cash from operating activities</td> <td>1007</td> <td>1199</td> </tr> <tr> <td>Net cash from Investing activities</td> <td>-973</td> <td>-841</td> </tr> <tr> <td>Net cash from Financial activities</td> <td>-227</td> <td>-171</td> </tr> <tr> <td>Net cash and cash equivalents at the end of the year </td> <td>2</td> <td>4</td> </tr> </tbody> </table> https://unlistedzone.com/shares/sbi-mutual-fund-unlisted-shares/

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Blog12 Jul 2023

Resins & Plastics Ltd FY23 Results Update

Resins & Plastic Ltd has announced its annual report for the financial year 2023. In FY23, the Company clocked 252 crore revenue from operations as against Rs. 213 in financial year 2022, indicating an increase of 18%. However, the has experienced 16% drop in its net profit from 12 crore in FY22 to 10 crore in FY23. <h3>Profit and Loss Statement </h3> <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> <td>%Change </td> </tr> <tr> <td>Revenue from Operations </td> <td>252</td> <td>213</td> <td>+18%</td> </tr> <tr> <td>Materials Consumed </td> <td>199</td> <td>161</td> <td>+23%</td> </tr> <tr> <td>Employee Benefits </td> <td>13</td> <td>12</td> <td>+8%</td> </tr> <tr> <td>Depreciation and Amortisation </td> <td>1</td> <td>0.92</td> <td>+8%</td> </tr> <tr> <td>Profit Before Tax </td> <td>13</td> <td>15</td> <td>-13%</td> </tr> <tr> <td>Profit After Tax </td> <td>10</td> <td>12</td> <td>-16%</td> </tr> <tr> <td>EPS</td> <td>23.52</td> <td>28.32</td> <td>-17%</td> </tr> </tbody> </table> <h3>Balance Sheet </h3> <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> <td>%Change </td> </tr> <tr> <td>Total Assets </td> <td>212</td> <td>181</td> <td>+19%</td> </tr> <tr> <td>Total Equity and Liabilities </td> <td>121</td> <td>181</td> <td>+19%</td> </tr> </tbody> </table> <h3> Cash Flow Statement </h3> <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> </tr> <tr> <td>Net cash from operating activities</td> <td>8</td> <td>2</td> </tr> <tr> <td>Net cash from Investing activities</td> <td>-5</td> <td>-14</td> </tr> <tr> <td>Net cash from Financial activities</td> <td>-3</td> <td>-2</td> </tr> <tr> <td>Net cash and cash equivalents at the end of the year </td> <td>10</td> <td>0.67</td> </tr> </tbody> </table> https://unlistedzone.com/shares/buy-sell-share-price-resin-plastic-limited-unlisted-shares/

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Blog12 Jul 2023

Elofic Industries FY23 Results Update

<h4>P & L Statement</h4>   <table width="100%"> <tbody> <tr> <td>Particulars (in Cr)</td> <td>FY23</td> <td>FY22</td> <td>%Change </td> </tr> <tr> <td>Revenue from Operations </td> <td>346</td> <td>321</td> <td>+7.7</td> </tr> <tr> <td>Profit Before Tax</td> <td>55</td> <td>59</td> <td>-6.7</td> </tr> <tr> <td> Profit for the year</td> <td>39</td> <td>42</td> <td>-7</td> </tr> <tr> <td>EPS</td> <td>158.10</td> <td>167.70</td> <td>-5</td> </tr> </tbody> </table> During the past year, the company's sales and other income amounted to Rs. 354 crore, which is an increase of 8.86% compared to the previous year's figure of Rs. 325 crore. The sales within the country for the same period were Rs. 184 crore, showing a growth of 8.77% from the previous year's Rs. 169 crore. The company achieved its highest-ever export sales during the year, reaching Rs. 150 crore. This represents an increase of Rs. 113 crore (8.20%) from the previous year's figure of Rs. 138 crore. Unfortunately, the profit before interest, depreciation, and tax has decreased by an unspecified amount from the previous year. The profit before tax (PBT) has decreased by Rs. 3 crore, and the profit after tax (PAT) has decreased by Rs. 2.4 crore compared to the previous year. It's important to note that these profit figures include the earnings from Elofic USA, a wholly-owned subsidiary of the company based in the USA. https://unlistedzone.com/shares/elofic-industries-limited-share-price-buy-sell-unlisted-shares-of-elofic-industries-limited/

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Blog10 Jul 2023

NSDL's Anticipated IPO: A Detailed Analysis of Valuations and Shareholders' Stake

The National Securities Depository Limited (NSDL) has recently announced its plans to go public, filing its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) on July 7, 2023. This news has significantly stirred the Indian securities market as this IPO marks a comprehensive Offer For Sale (OFS) by the existing shareholders of NSDL. An impressive roster of financial institutions, including IDBI Bank, SBI, HDFC Bank, Union Bank, and the National Stock Exchange (NSE), are prominent shareholders in NSDL. These institutions are gearing up to offload their stakes in this impending IPO. In this ensemble of shareholders, the NSE holds a substantial chunk of NSDL with a total of 48 million shares. As the IPO approaches, the NSE is prepared to sell approximately 18 million shares from its existing pool. As per the DRHP, the NSE acquired these shares at an average price of Rs 12.28 per share. This scenario brings us to the pivotal question - what valuation is NSDL targeting for its IPO? Taking a comparative approach with Central Depository Services (India) Limited (CDSL), NSDL's listed peer, provides a preliminary insight. The current market capitalization of CDSL stands at Rs 12,000 crores. However, NSDL significantly overshadows CDSL by generating double its revenue and boasting a considerably higher cash flow from operations. Considering these factors, it is reasonable to speculate that NSDL might target a higher valuation for its IPO, possibly around Rs 15,000 crores and with 20 cr shares outstanding as on 31.03.2023, the price per share could be ~750 per share. To give a broad estimate of the potential income for NSE from this IPO, we can multiply the anticipated per-share price by the number of shares being sold. As per the provided calculation, "= Rs 750 * 18 million = Rs 1,350 crores." For NSE shareholders, the NSDL's IPO could open a windfall of benefits. The additional income garnered from this IPO could drive the NSE's profitability up in the years to come and potentially boost dividend payouts. This is certainly an event to watch out for, promising a reshaping of the market landscape. Remember, these calculations are preliminary, and the official IPO price band announcement will provide the final valuation. The NSE, which is planning a significant divestment in this IPO, could benefit significantly from this high valuation. The upcoming IPO of NSDL promises to be an intriguing event for all market participants, with the potential to reshape the landscape of the securities market. It is essential for potential investors and existing shareholders to stay updated and make informed decisions. Stay tuned to our platform as we continue to deliver comprehensive and insightful content navigating the complex yet fascinating world of investments and capital markets.

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Blog6 Jul 2023

Pharmeasy's Debt Retirement and Funding Options: UnlistedZone Analysis

Introduction In recent news, it has been reported that Pharmeasy, a leading online pharmacy in India, is looking to retire its substantial debt of ₹2,400 crores. The debt was obtained from Goldman Sachs last year, and now Pharmeasy faces the decision of either selling some of its successful businesses or seeking funding from investors. UnlistedZone, a trusted source of analysis on unlisted stocks, provides a closer look at this development and its implications. Retirement Options and Founders' Stance: Pharmeasy has two primary options for retiring its debt. The first option is to sell some of its thriving businesses, including Mahaveer Medicos, Ascent Welness, and Thyrocare, which are engaged in the wholesale distribution of medicines and diagnostic services. The second option, which the founders prefer, is to raise funds from investors rather than parting with any of their businesses. Investment Proposal and Valuation: According to recent reports, Manipal Group, along with existing investors such as TPG and Temasek Holdings, is considering investing ₹1,000 crores in Pharmeasy. The deal is rumored to be structured around a valuation of approximately ₹5,000 crores, marking an 85% decrease from the previous valuation of ₹34,000 crores during the pre-IPO funding round in 2021. It is worth noting that in the unlisted market, Pharmeasy's share price had surged to ₹140 in anticipation of the IPO. However, global inflation and a slowdown in startup funding have led to a correction in valuations across the industry. Standalone Financial Performance: While the financials of Pharmeasy's holding company, API Holdings, indicate significant losses in the past, there are positive signs of improvement. In the previous fiscal year (FY22), API Holdings at Standalone level reported a revenue of ₹346 crores and a loss of ₹700 crores. However, in the first eleven months of the current fiscal year (FY23), the company witnessed a revenue increase to ₹423 crores, accompanied by a narrowed loss of ₹150 crores. This improved performance suggests a positive trajectory for Pharmeasy, which may bolster investor confidence. Survival Prospects and Shareholder Outlook: If Pharmeasy can secure funding at a lower valuation and continue to narrow its losses, it stands a chance of surviving and potentially regaining shareholder trust. The proposed right issue, aimed at allowing existing shareholders to participate in the funding round, further highlights the company's commitment to its investors. However, it is essential to note that the information provided in this article is based on media reports, and official confirmation from the company's promoters is pending. Until such confirmation is received, it is prudent to consider these details as speculative. Conclusion: Pharmeasy's pursuit of debt retirement and funding options is a crucial development in the company's journey. As the company weighs the decision to sell its successful businesses or raise funds from investors, the support from Manipal Group, TPG, and Temasek Holdings offers a glimmer of hope. Despite the substantial decline in valuation, Pharmeasy's narrowed losses and improved revenue demonstrate signs of progress. UnlistedZone will continue to monitor these developments closely and provide further analysis as more information becomes available. Disclaimer: The views expressed in this article are based on the information available at the time of writing and are subject to change as more updates are released. This article is for informational purposes only and should not be considered as financial advice. Please conduct thorough research and consult with a professional financial advisor before making any investment decisions. <a href="https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/"> https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/</a>

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Blog5 Jul 2023

Lava Partners with Reliance Jio: Opportunity for Pre-IPO Investors

Introduction Lava, a leading Indian handset player, is considering a strategic partnership with Reliance Jio, one of the country's largest telecom operators. This collaboration holds significant potential for pre-IPO investors, as it aims to manufacture internet-enabled feature phones and smartphones. By leveraging Jio's expertise and distribution network, Lava is set to tap into the booming feature phone market and take advantage of the smartphone production-linked incentive scheme. In this blog post, we will explore the details of this exciting opportunity for pre-IPO investors interested in Lava's growth prospects. Lava's Partnership with Reliance Jio Lava's potential partnership with Reliance Jio opens up a world of opportunities for the company and its investors. By joining forces, Lava can leverage Jio's hardware and design capabilities, enabling the development of co-branded feature phones and smartphones. This strategic move positions Lava to capitalize on Jio's extensive distribution network and tap into a larger customer base. Driving Volumes in the Feature Phone Segment The feature phone market still holds a significant share of mobile users in India. Lava's collaboration with Jio allows them to target this segment more effectively, potentially driving higher volumes. With Jio's backing, Lava can tap into the demand for internet-enabled feature phones, offering consumers affordable and feature-rich options. Leveraging the Smartphone Production-Linked Incentive Scheme India's smartphone production-linked incentive scheme presents a lucrative opportunity for manufacturers. Lava's partnership with Jio not only grants them access to Jio's design capabilities but also positions them as potential contract manufacturers of Jio Bharat phones. This collaboration allows Lava to leverage the incentives offered by the government and strengthen its market position. The Significance of Pre-IPO Investment: For investors looking to capitalize on Lava's growth trajectory, the pre-IPO phase presents a unique opportunity. As Lava embarks on this strategic partnership with Reliance Jio, pre-IPO investors can enter the investment journey at an early stage. By investing in Lava before it goes public, investors can potentially benefit from the company's growth potential, market expansion, and increased valuation. Growth Potential and Market Share Lava's partnership with Jio comes at a time when the feature phone market is evolving. With established players such as Transsion and Nokia HMD leading the segment, Lava's collaboration with Jio can help boost its market share. This presents an attractive proposition for pre-IPO investors seeking exposure to a rapidly expanding market. Evaluating the Partnership's Impact As with any investment, thorough evaluation is crucial. While Lava's partnership with Jio holds immense promise, investors should carefully consider factors such as market demand, competitive landscape, and the company's execution capabilities. Conducting due diligence and consulting with financial advisors can help investors make informed decisions regarding their pre-IPO investment in Lava. Conclusion Lava's potential partnership with Reliance Jio represents an exciting opportunity for pre-IPO investors seeking exposure to the Indian handset market. By joining forces with Jio, Lava can tap into the vast potential of the feature phone segment, leverage the smartphone production-linked incentive scheme, and expand its market share. However, investors must conduct comprehensive research and analysis to gauge the investment https://unlistedzone.com/shares/lava-international-limited-share-price-buy-sell-unlisted-shares-of-lava-international/

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Blog4 Jul 2023

Tata Technology: A Successful Year of Robust Growth and Profitability

In the dynamic and competitive world of technology services, Tata Technology, a global leader in engineering and product development digital services, has showcased impressive growth and profitability in fiscal year 2023. This remarkable performance is a testament to the company's strategic foresight, operational efficiency, and commitment to delivering shareholder value. Revenue on the Rise In the fiscal year ended March 31, 2023, Tata Technology reported a noteworthy surge in its operational revenue, reaching INR 4,414.18 crore from INR 3,529.57 crore in the previous year. A growth that underscores the effectiveness of the company's business strategies. Furthermore, the company's other income (net) witnessed a rise, growing to INR 87.74 crore in 2023 from INR 48.80 crore in 2022. The culmination of these earnings brought the total revenue for the year to INR 4,501.92 crore, indicating a substantial leap from the previous year's total of INR 3,578.37 crore. Astute Expense Management In spite of the rise in revenue, Tata Technology demonstrated prudent financial management by keeping its expenses in check. The company's spending on technology solutions dipped slightly to INR 682.48 crore in 2023, a slight decrease from INR 688.54 crore in 2022. Meanwhile, outsourcing and consultancy charges escalated to INR 569.66 crore, up from INR 399.80 crore in the previous year. This shift illustrates Tata Technology's strategic reliance on external expertise to foster growth. Furthermore, an increase in employee benefits expense to INR 1,929.46 crore in 2023, up from INR 1,512.70 crore, signifies the company's investment in its human resources. Despite these changes, the total expenses for the year were capped at INR 3,705.77 crore, reflecting a modest increase from INR 2,991.54 crore in the preceding year. Strong Profitability Tata Technology's astute business practices yielded a substantial increase in the company's profit before tax for the fiscal year ending March 31, 2023, which stood at INR 796.15 crore, up from INR 586.83 crore. After accounting for current and deferred tax, the net profit for the year was INR 624.03 crore, a significant rise from INR 436.97 crore in 2022, implying a robust profitability trend for the company. Other Comprehensive Income Besides its primary operations, Tata Technology also reported other comprehensive income, including remeasurement of post-employment benefit obligations and exchange differences on translation of foreign operations. The total comprehensive income for the year was INR 707.59 crore, marking a significant improvement from INR 434.01 crore in the previous fiscal year. Earnings Per Share (EPS) Another highlight of Tata Technology's fiscal year 2023 performance was the substantial growth in its earnings per share (EPS). The basic EPS rose to INR 15.38 from INR 10.77 in the preceding year. Meanwhile, the diluted EPS was INR 15.37, marking an increase from the INR 10.77 figure of the previous year. Market Valuation and IPO Prospects Currently, Tata Technology's shares are available in the unlisted market at INR 1100 per share. Given the EPS of 15.38x, the price-to-earnings (P/E) ratio stands at 71x. This figure contrasts with its nearest peer, KPIT, which is trading at a P/E of 78x. The upcoming IPO of Tata Technology, likely to be priced at a P/E of 50x, could make the shares available at a price above INR 800+. Conclusion Fiscal year 2023 has been a testament to Tata Technology's growth and profitability. This trajectory, as reflected in its Profit & Loss statement, shows a strong upward trend in revenue, profit, and earnings per share. Such performance underscores the company's strategic acumen and its unwavering commitment to creating value for its shareholders. As the company gears up for its IPO, the financial landscape appears promising for Tata Technology, promising a bright future for its investors. https://unlistedzone.com/shares/tata-technologies-limited-share-price-buy-sell-unlisted-shares-of-tata-technologies/

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Blog30 Jun 2023

Religare's Strategic Stake Sale in Care Health Insurance

"Religare's Strategic Stake Sale in Care Health Insurance: An Indicator of Robust Growth and Market Resilience" 1. Religare's Stake Sale Strategy In the vibrant financial landscape, strategic business maneuvers often signify significant growth trajectories. One such development is on the horizon for Religare Enterprises Limited. As per recent reports, the company is planning to sell a 6-7% stake in Care Health Insurance, with an aim to raise approximately 1200 Crores. 2. The Valuation of Care Health Business The anticipated deal highlights an impressive valuation of Care Health's business at around 17000 Cr. This estimate not only showcases the substantial market presence of the subsidiary but also sets the stage for potential industry-wide implications. The sheer size of this valuation is bound to stir interest among stakeholders and competitors alike. 3. Outstanding Shares and Investor Opportunities Delving into the specifics, as of 31.03.2023, Care Health had about 94 Crores of outstanding shares. Should the deal materialize as planned, this could result in a price per share of approximately 182. This figure is particularly noteworthy considering the shares were valued around 140 in the unlisted market a few months back. This increase paints a picture of a promising opportunity for shareholders who had the foresight to invest in the company. 4. Impressive FY23 Performance: A Testament to Care Health's Growth In FY23, Care Health outdid itself by recording a Gross Written Premium (GWP) of 5100 Crores and a Profit After Tax (PAT) of 245 Crores. These figures represent the highest performance in the last five years. The PAT is a vital indicator of a company's profitability and underscores Care Health's sound financial standing. 5. A Positive Combined Ratio: Marking Profitable Underwriting Adding to the string of positive news, Care Health turned their combined ratio positive this year. In the insurance industry, this metric is crucial as it indicates profitable underwriting. A positive combined ratio is a testament to the company's operational efficiency and signals potential for sustainable growth. 6. Conclusion: The Impact of the Stake Sale on the Insurance Industry In conclusion, the proposed stake sale by Religare Enterprises Limited in Care Health Insurance signifies more than just a strategic financial decision. It is an indicator of Care Health's stability and growth potential as a leading player in the insurance market. Observers and industry players are keenly watching the developments, which promise to influence the company's future direction and the broader landscape of the insurance industry

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Blog28 Jun 2023

Sheela Foam to Acquire Kurlon Enterprise: An In-depth Analysis

1. Acquisition Details: Sheela Foam Ltd has announced its plans to fully acquire its rival, Kurlon Enterprise Ltd. The acquisition will be completed by buying 100% of the company in two separate transactions, amounting to a total cash consideration of Rs 3,250 crore. The deal is expected to be concluded within a few months. 2. Impact on Market Share The acquisition of Kurlon Enterprise is poised to significantly boost Sheela Foam's market share. Currently, Sheela Foam holds a market share of 20-25% in India's organized mattress segment. Post-acquisition, it is expected to nearly double, raising the market share to 35-40%. 3. Geographic and Operational Synergies Sheela Foam, known for its Sleepwell brand, has a strong market presence in the North and West of India. On the other hand, Kurlon, known for the Kurl-on brand of mattresses, is established in the South and East. The merger of these two firms will not only broaden their geographic reach but also lead to cost benefits and operational synergies, enhancing their overall efficiency. 4. Financial Impact The merger is expected to add around Rs 900 crore to the topline of the listed company at the consolidated level. Moreover, Sheela Foam will be able to source more of the raw material TDI (Toluene Di-Isocyanate) at lower rates due to combined buying for both companies, leading to significant cost savings. Operational synergies at the factory level are also expected, along with the optimization of capacity utilization at both companies' plants. 5. Response from the Companies As of now, both Sheela Foam and Kurlon have not responded to queries about the possible deal. 6. Indian Mattress Market Overview The mattress market in India, dominated by a few branded and many non-branded companies, was worth around $1.7 billion in FY19. It is expected to more than double to $2.8 billion by FY24. The share of the organized, branded mattress industry grew from 29% of the market in FY14 to 35% in FY19 and is expected to reach 40% by FY24. The total market for mattresses in India is estimated at around 18.6 million units, with new demand at around 7 million units per year. 7. Valuation of Kurl-On Enterprise Share As per the FY22 Balance Sheet, the total outstanding shares are 3.65 Cr. Based on this, the per-share value is calculated to be 890 per share. This valuation provides an additional lens to evaluate the financial implications of the acquisition. https://unlistedzone.com/shares/buy-sell-share-price-kurlon-enterprise-limited-unlisted-shares/

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Blog28 Jun 2023

Indian Mobile Brands Plan Major Comeback

Overview 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. Planned Launches and Pricing Strategies 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. Market Vacuum and Government Support 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. Lava's Aggressive Growth 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. Market Share and Current Competition 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. The Potential of the Sub-Rs 10,000 Segment 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. Micromax's Approach to Quality 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. Level Playing Field and Local Manufacturing 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/

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Blog27 Jun 2023

API Holdings Set To Demerge Mahaveer Medicos Under Ascent Wellness And Pharma

API Holdings Announces a Strategic Business Meeting 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. Business Overview: The Involved Entities 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. Demerger Objectives and Shareholder Repercussions 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. UnlistedZone View and Financial Performance 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. Concluding Remarks 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. <a href="https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/">https://unlistedzone.com/shares/pharmeasy-share-price-unlisted-2022/</a>

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Blog20 Jun 2023

NSE Expands Offerings with Bond Index Derivatives

NSE Expands Offerings with Bond Index Derivatives and Unveils GIFT Nifty for International Investors Introduction 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. NSE's Venture into Bond Index Derivatives 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. Regulatory Approvals and Timeline 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. NSE's Strong Foundation and Track Record 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. Introducing GIFT Nifty for International Investors 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. NSE IX-SGX Connect and Enhanced Access 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. Conclusion 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. <a href="https://unlistedzone.com/shares/nse-india-limited-unlisted-shares/">https://unlistedzone.com/shares/nse-india-limited-unlisted-shares/</a>

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