Power & Instrumentation Analyst Meet & Acquistion Via Preferential, Kaushalya Logistics Capacity Expansion And Positron Energy Bulk Deal

Power & Instrumentation (Gujarat) Ltd

Recent filing: (ANALYST MEET & ACQUISITION VIA PREFERENTIAL) Power & Instrumentation will be interacting with Analyst/ Investors on Thursday, 19th September, 2024.

On 1st Aug '24, The Board of Directors approved the issuance of 34.4 lakh equity shares and 50.1 lakh equity warrants at INR 83.8 each, totaling INR 70.8 Cr, on a preferential basis to promoters and non-promoters. 

This is for acquiring a controlling stake in Peaton Electrical Company Limited (PECL), a manufacturer of electrical panels, compact sub-stations, and bus trunking systems. Currently holding a 15.23% stake, Company plans to increase its shareholding in PECL to up to 60%.

SUMMARY: 3y Operating Profit uptrend | PE 33x (Sector PE range 30-70) | Orderbook = INR 400 Cr (Jun-24) (3.9x times of TTM revenue) | Acquisition | Capital Goods – Electrical Equipment

• MCap of INR 223 Crore (share price = INR 176 / share) (as on 19th Sep ‘24)
• TTM PE 33x (as on 19th Sep ‘24) Retail float = 19.3% (Jun-24)

FOOD FOR THOUGHT: Low double digit operating profit margin.

Q1. What are the Products and Services offered by Power & Instrumentation (Gujarat) Ltd?

Founded in 1975, Power & Instrumentation (Gujarat) Ltd is a leading player in the electrical contracting and equipment industry, specializing in Electrical, Procurement, and Construction (EPC) solutions. The company provides a wide range of services, including electrical installations, maintenance, and energy-efficient power systems. Serving industrial, commercial, and government clients, they deliver high-quality projects.

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Kaushalya Logistics Ltd.

Recent filing: (CAPACITY EXPANSION) Kaushalya Logistics announced that it has received a LOI to establish its second depot for JK Cement, in Amritsar, Punjab. Company will be responsible for overseeing rake operations, depot management, and secondary transportation at this new facility. 

The new depot, expected to start operations within 30 days, marks entry into the new state of Punjab. With an expected volume of 40,000 tons per annum, this depot will significantly capabilities in the region. Kaushalya Logistics will provide end-to-end logistics operations in Punjab.

SUMMARY: 4y Operating Profit uptrend | PE 26.5x (Sector PE range 10-40) | Ace Investor | Geographical Expansion | Capacity Expansion | Logistics

• MCap of INR 241 Crore (share price = INR 130 / share) (as on 19th Sep ‘24)
• TTM PE of 26.5x (as on 19th Sep ‘24) Retail float = 17.1% (Jun-24)

FOOD FOR THOUGHT: Negative cashflow from operations for FY24.

Q1. What are the Products and Services offered by Kaushalya Logistics Ltd?

Kaushalya Logistics is a leading player in logistics industry, notably providing support to the cement industry. The company operates in logistics, e-commerce & commercial properties, while the company’s core operation include Clearing and Forwarding (C&F) Services, with a specialization in servicing cement industry. Managing 70 warehouses across Bihar, Tamil Nadu, and Kerala, KLL operates in multiple states, with a corporate office in New Delhi and a regional office in Chennai.

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Positron Energy Ltd.

Recent filing: (BULK DEAL) Bofa Securities Europe Sa bought 50.4k shares of Positron Energy at INR 441/share, aggregating to INR 2.2 Cr.

SUMMARY: 3y Operating Profit uptrend | PE 39.2x (Sector PE range 30-50) | Intuitional Entry | IPO | Diversified Commercial Services

• MCap of INR 345 Crore (share price = INR 454 / share) (as on 19th Sep ‘24)
• TTM PE 39.2x (as on 19th Sep ‘24) Retail float = NA

FOOD FOR THOUGHT: Single digit operating profit margin.

Q1. What are the Products and Services offered by Positron Energy Ltd?

Incorporated in 2008, Positron Energy Limited provides management and technical advisory for the oil and gas industry in India. They offer end-to-end gas distribution solutions, including management consultancy, project management, and operation and management services. The company has developed a gas aggregation business focusing on natural gas and utilizes common carrier pipeline networks in the Indian market.

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