Choice International Fund Raise, Ramkrishna Forgings Approval And Satin Creditcare Fund Raise

Choice International Ltd.

Recent filing: (FUND RAISE) Board Meeting of Choice International is to be held on 23rd Apr 2024 to consider fund raising.

SUMMARY: 5y Operating Profit uptrend | 2q Operating profit uptrend | PE 51.3x (Sector PE range 20-50) | Excellent Dec-23 results | Fund Raise | Promoter buying | Geographical expansion | Strategic collaborations | Large Order

  • Mcap of INR 6,172 Crore (share price = INR 310 / share) (as on 18th Apr ’24)
  • TTM PE 51.3x (as on 18th Apr ’24) Retail float = 3.2% (Feb-24)

FOOD FOR THOUGHT: Risk of timing of receivables from govt. bodies

What are the products and services of Choice International ?

Incorporated in 1992, Choice group provides tech-led financial services. It finds its legacy in resolving financial problems and bridging gaps for individuals, institutions, and governments. It is an integrated and diversified financial services group.

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Ramkrishna Forgings Ltd.

Recent filing: (APPROVAL) Ramkrishna Forgings has recently secured approval from the largest electric passenger vehicle producer in the USA to supply power train components. This approval signifies the Company's position in the electric passenger vehicle segment with a strong emphasis on powertrain components. The approval follows the showcasing of a comprehensive portfolio of cutting-edge solutions, demonstrating Company’s expertise and commitment to delivering top-notch products.

SUMMARY: 4y Operating Profit uptrend | 2q Operating Profit uptrend | PE 42.0x (Sector PE range 30-50) | Excellent Dec-23 results | Fund raise | Capacity expansion | Acquisition | Geographical expansion | Promoter buying | Railways

  • MCap of INR 13,274 Crore (share price = INR 734 / share) (as on 18th Apr ‘24)
  • TTM PE 42.0x (as on 18th Apr ‘24) Retail float = 10.6% (Dec-23)

FOOD FOR THOUGHT: Exposed to the cyclicality inherent in commercial vehicle and steel industries

What are the products and services of Ramkrishna Forgings ?

Ramkrishna Forgings is involved in the manufacturing & sale of forged components of automobiles, railway wagons & coaches and engineering parts. It is a supplier to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, Earth Moving & Mining, both in India & overseas.

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Satin Creditcare Network Ltd.

Recent filing: (FUND RAISE) BoD of Satin Creditcare considered and approved the allotment of 800 USD denominated non-convertible bonds having a face value of USD 10k each, aggregating to USD 8 million (INR 67 Cr) and issuance of 7500 NCDs having face value of INR 1L each, aggregating to INR 75 Cr on a private placement basis.

SUMMARY: 1y Operating Profit uptrend | 2q Operating Profit uptrend | PE 6.5x (Sector PE range 10-20) | Excellent Dec-23 results | Geographical expansion | Institutional entry | Fund raise | Promoter Buying

  • MCap of INR 2,673 Crore (share price = INR 242 / share) (as on 18th Apr ‘24)
  • TTM PE of 6.5x (as on 18th Apr ‘24) Retail float = 13.6% (Mar-24)

FOOD FOR THOUGHT: Microfinance industry susceptible to socio-political issues and regulatory changes, especially given the unsecured nature of microfinance loans.

What are the products and services of Satin Creditcare Network ?

Satin Credit Care launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990, going on to be registered as an NBFC with the RBI in 1998 and converting into an NBFC-MFI in November 2013. Its business is primarily based on the Joint Liability Group model, which allows it to provide collateral-free, microcredit facilities to economically active women in both rural and semi-urban areas, who otherwise have limited access to mainstream financial service providers. It also offers loans to individual businesses and Micro, Small & Medium Enterprises (MSMEs); product financing for the purchase of solar lamps, as well as loans for the development of water connections and sanitation facilities.

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