RPP Infra Projects Order, BLS International Acquisition And Bondada Engineering Fund Raise
RPP Infra Projects
Recent filing: (ORDER) RPP Infra Projects has secured new orders worth INR 35.6 Cr, including INR 28.3 crores for a 7MLD water conveyance system (with a 18-month timeline) at Kelavarapalli, Hosur, and INR 7.4 crores for internal water supply in SIPCOT Industrial Park, Shoolagiri (with a 10-month timeline). The company has a work order backlog of INR 3559 Cr as of October 16, 2024.
SUMMARY: 3y Operating Profit uptrend | 1q Operating Profit uptrend | PE 16x (Sector PE range 10-50) | Orderbook of INR 3,559 Cr (16th of Oct-24) (2.5x of TTM revenue) | Infrastructure
- MCap of INR 997 Crore (share price = INR 201 / share) (as on 18th Oct ‘24)
- TTM PE 16x (as on 18th Oct ‘24) Retail float = 21.9% (Jun-24)
FOOD FOR THOUGHT: Single digit operating profit margin for FY24
Q1. What are the Products and Services offered by RPP Infra Projects
Established in 1988, RPP Infra Projects Limited is a construction company operating in the Power, Irrigation and Water supply, Industrial structure, Roads and Buildings. Company’s focus is on small government projects as short to medium tenure projects provides adequate revenue visibility.
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BLS International Ltd.
Recent filing: (ACQUISITION) BLS International has successfully acquired a 51% stake in SLW Media, a leading sports management company in the golf industry. This acquisition strengthens BLS International's position as a global lifestyle brand, combining premium leisure experiences with its expertise in government and travel services. The synergy between golf events and BLS's visa and consular services offers a unique value proposition for high-net-worth individuals and corporate clients, enhancing the company's reputation for luxury and exclusivity.
SUMMARY: 4y Operating Profit uptrend | 7q Operating Profit uptrend | PE 43.4x (Sector PE range 30-60) | Excellent Jun-24 results | Partnerships | Promoter Buying | Acquisition | Institutional Entry | Aggressive Hiring | Travel Services
- MCap of INR 15,576 Crore (share price = INR 378 / share) (as on 18th Oct ‘24)
- TTM PE 43.4x (as on 18th Oct ‘24) Retail float = 10.3% (Jun-24)
FOOD FOR THOUGHT: Diwakar Aggarwal (Promoter) has reduced stake from 8.5% in Mar-23 to 5.8% in Jun-24.
Q1. What are the Products and Services offered by BLS International ?
BLS International Limited is a globally trusted and highly esteemed tech-enabled service partner for governments and citizens. The company has established itself as one of the top 2 players in the field of visa, passport, consular, and citizen services. Since its establishment in 2005, BLS International has been setting industry benchmarks and delivering comprehensive solutions in various areas, including e-governance, attestation, biometrics, e-visa, and retail services.
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Bondada Engineering Ltd.
Recent filing: (FUND RAISE) Board meeting of Bondada Engineering is scheduled to be held on October 22, 2024 to consider fund raise of an aggregate amount of INR 500 Cr.
SUMMARY: 3y Operating Profit uptrend | 3h Operating Profit uptrend | PE 138x (Sector PE range 30-50) | Excellent Mar-24 results | Fund Raise | Large Order | Orderbook of INR 3,500 Cr (as of 30 Aug 2024) (4.4x of TTM revenue) | 5G+Solar Infrastructure
FUTURE OUTLOOK: As per the Zee Business Interview, Management expects to double its revenue and net profit in FY25. It has also given the guidance of INR 4,000 Cr of revenue by FY27, which is a 5x growth over 3 years and expects a PAT of INR 300-340 Cr.
- MCap of INR 6,176 Crore (share price = INR 572 / share) (as on 18th Oct ’24)
- TTM PE of 138x (as on 18th Oct ’24) Retail float = 13.6% (Jun-24)
FOOD FOR THOUGHT: PE is above sector range.
Q1. What are the Products and Services offered by Bondada Engineering ?
Bondada is an infrastructure company that specializes in offering engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to clients in the telecom and solar energy sectors across India. Its expertise encompasses core design and engineering, with a focus on passive telecom infrastructure services such as construction, operation and maintenance of telecom towers, optical fiber cables and related infrastructure.
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