Digikore Studios Appointment, Nibe Order And Refex Industries Allotment

Digikore Studios

Recent filing: (APPOINTMENT) Digikore Studios has appointed David Crawford as the Head of Studio in Montreal, Canada, bringing over three decades of VFX industry experience to the role. Throughout his career, he has worked on blockbuster films like Titanic, Spiderman, and Joker. His expertise spans various roles, including artist and VFX supervisor, and he has successfully launched and managed three companies.

SUMMARY: 3y Operating Profit uptrend | 1q Operating Profit uptrend | PE 41.0x (Sector PE range 30-60) | Excellent Sep-23 results | Strong Management Guidance | Ace investor | VFX

  • MCap of INR 336 Crore (share price = INR 530 / share) (as on 12th Apr ‘24)
  • TTM PE 41.0x (as on 12th Apr ‘24) Retail float = 12.6% (Oct-23)

FOOD FOR THOUGHT: 70% of business comes from outsourced work from major VFX studios in North America, which could face challenges due to AI advancement, Company transitioning towards direct projects from production houses

What are the products and services of Digikore Studios?

Digikore, established in 2000, is a VFX studio based in India. Its core specialization lies in delivering top tier Visual Effects (VFX) services tailored for a diverse array of media projects, encompassing films, web series, TV series, documentaries, and commercials. Company got listed on the NSE Emerge platform on 4th Oct 2023.

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Nibe Ltd.

Recent filing: (ORDER) Nibe has received Purchase Order worth INR 308 Cr from Ordefence Systems Limited for assemblies, sub-assemblies and supply of 12 kits of small arms, to be executed before 31st Mar 2027.

SUMMARY: 2y Operating Profit uptrend | 2q Operating Profit uptrend | Excellent Dec-23 results | PE 207x (Sector PE range 50-100) | Fund raise | Institutional entry | Partnerships | Acquisitions | Large Order | Defence

  • MCap of INR 1,995 Crore (share price = INR 1,519 / share) (as on 12th Apr ‘24)
  • TTM PE of 207x (as on 12th Apr ‘24) Retail float = 19.2% (Dec-23)

FOOD FOR THOUGHT: High valuation based on TTM earnings

What are the products and services of Nibe?

NIBE is into three major businesses. E-vehicles: Designing, developing, manufacturing and trading of e-vehicles. Defense: Wide spectrum of critical components catering to the defense industry. IT: Networking solutions, network security, data security, endpoint security.

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Refex Industries Ltd.

Recent filing: (ALLOTMENT) BoD of Refex Industries allotted 1.3 Cr warrants to Sherisha Technologies Private Limited (Promoter Body Corporate) at INR 125/share, aggregating INR 157 Cr.

SUMMARY: 2y Operating Profit uptrend | PE 13.5x (Sector PE range NA) | Business expansion (EV Leasing) | Fund raise | Promoter buying | EV Leasing

  • Mcap of INR 1,562 Crore (share price = INR 141 / share) (as on 12th Apr ’24)
  • TTM PE 13.5x (as on 12th Apr ’24) Retail float = 29.5% (Dec-23)

FOOD FOR THOUGHT: Intensive working capital cycle | Intense competition | Presence of high counterparty risk in the revenue profile

What are the products and services of Refex Industries?

Refex Industries is the first mover in the Refrigerant Gas Vertical. It has an expertise in manufacturing & refilling of refrigerant gases replacing chloro-fluoro-carbons. It recently incorporated a wholly owned subsidiary in the name of ‘Refex Green Mobility’. ‘Refex eVeelz’ is the brand under which the subsidiary operates. Refex eVeelz is one of India’s all-electric 4-wheeler fleet, providing an eco-friendly and environmentally conscious transport solution to corporate employees and other commuters. It offers 100% EV fleet, drivers, infrastructure, and technology. Company is also into the space offering services to power plant like handling and disposal of Fly Ash, Round the clock services for coal yard management, crushing of uncrushed coal and Coal trading to power plants.

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