Results Update !!!

Rajoo Engineers

Revenues increased from 41.55cr to 44.08 cr YoY but profits decline from 2.08cr to 1.21 cr on back of higher HR costs and inventories. For FY 15, revenues increased from 101.38cr to 116.93cr and profits increased from 3.45cr to 5.23 cr.

Singer India

Revenues increased from 64cr to 70.98cr YoY but profits increased slightly from 1.36cr to 1.4 cr. For 9 months this FY, revenues increased from 178.27cr to 211.12cr and profits are flat at 4.6cr.

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123 Responses to Results Update !!!

  1. shreeux says:

    Good to accumulate every dips.,

  2. Akshay says:

    thanq for the update

  3. Aravind says:

    How is Singer India looking from a 3yr perspective. I guess many textile parks and cloting things are going up, any benefit from industry level growth for Singer

  4. kannu says:

    Sun Pharma or Wockhart which one is better at current level for investment?

    • i think both are very different class of stock and i think its obvious which one should be opted for.

      • kannu says:

        Ace, would appreciate if you could elaborate it. As both the stock has corrected by 20 & 40% resp. from its high.

        • the risk profile required in both the stock is very different. wockhart is very risky and to be honest i am not at all convinced about it, purely because they way they have managed their relationship with USFDA. if i have a risk profile for a wock, then i would rather prefer one of the pharma stocks discussed on this blog.

  5. rnrramrupesh says:

    Hi Ace,

    Any comments on Recent market fall.. like what could be the support level for the Sensex & Nifty..

  6. Sid says:

    Sir, still do you suggest to buy Waterbase at current price? Any negative reason for the price fall from near 100 rupees to this level?

  7. afzal says:

    if operating profits are growing but cash flow is decreasing for a company what do we infer from that ? shall i enter in to such company

  8. SAY says:

    Morning Ace – sharing article that appeared in ET.

    ET: Sahyadri Industries to invest Rs 140 crore in NAFS plant

  9. Pankaj Sharma says:

    If inventory pile up is not a concern then the result of Rajoo engg in good and I think can be invested whats your guidance Sir.

  10. Aravind says:

    Market Cap: 181.23 Crores
    Current Price: 46.95
    Book Value: 26.48
    Stock P/E: 10.06
    Dividend Yield: 0.00%
    Stock is 10.00 paid up
    52 Week High/Low: 98.85 / 14.85
    Enterprise Value: 168.94
    Industry PE: 17.12
    EPS: 4.67
    Expected quarterly EPS: 1.84
    EPS last year: 3.52
    Graham Number: 52.75
    EBIT: 33.12Cr.
    EVEBITDA: 4.92
    PEG Ratio: None
    Debt to equity: 0.15
    Earnings yield: 19.60%
    Profit after tax: 18.13Cr.
    OPM: 11.44%
    Return on equity: 18.47%
    Return on capital employed: 23.07%
    Return on assets: 9.13%
    Average return on equity 5Years: 8.88%
    Dividend yield: 0.00%
    Dividend Payout Ratio: 0.00%
    Exports percentage: 0.56%
    Exports percentage 5Years back: 8.15%
    Promoter holding: 52.47%
    Piotroski score: 5.00
    Altman Z Score: 5.40
    Profit growth 5Years: None%
    Profit growth: 54.59%
    YOY Quarterly profit growth: 30.25%
    CROIC: 31.31%
    OPM 5Year: 10.29%
    Profit growth 7Years: None%
    Sales growth 3Years: 70.17%
    Operating cash flow 5years: 25.63Cr.
    Price to Cash Flow: 71.63
    Price to Sales: 0.64
    Average return on capital employed 10Years: 4.81%
    Average return on capital employed 3Years: 16.13%
    Return on invested capital: 33.46%
    Investing cash flow 10years: 27.95Cr.
    Cash from operations last year: 2.53Cr.
    Working Capital Days: 77.43
    Average return on capital employed 7Years: 6.30%
    Inventory: 48.86Cr.
    Days Inventory Outstanding: 87.23

    Whats all this? Well they define Waterbase I guess

    • how can dividend yield be 0% when they have already paid 10% interim dividend. Would appreciate of people do not do blind copy paste and give comments that could add value please. God Bless

  11. vivek gupta says:

    What are ur views on Premco Global.
    Low debt. High RoE, Low PE, marqee client list.
    Also please tell the reason you don’t like Sri Kalahasthi Pipes. Results and price performance are good.


  12. raj says:

    Ace all I can say Hatts of 2 u.cud I communicate directly 2 u on yr privte email id.i want to take yr advice on some personal matters.kind regds raj

  13. vivek gupta says:


  14. Sameer Anand. says:

    ACE, just a small request. Please provide just a rough estimate for Wanbury’s EPS for next year.

  15. Sameer Anand. says:

    ACE, a request. Please provide rough estimate of Wanbury’s EPS for next year.

  16. Sameer Anand. says:

    I have absolutely no idea. That is why asked Mr Expert!!

    • you should. go through the stock story, the discussions that’s there on the blog, the results declared and the AR and then lets discuss. its important to be independent as otherwise you cannot manage your portfolio and i do not do portfolio management. if an investor cannot estimate the earnings then how can he/she find out if a stock is undervalued or overvalued.

  17. Sameer Anand. says:

    Bravo Healthcare & Cantabria Parma S L(which has now become step down subsidiary). It is making lossses because of hugh debt it has to service.

  18. Sameer Anand. says:

    Welll since Cantabira has filed for insolvency, where is the question of revenues. Step down subsidiary means subsidiary of subsidiary. In this case Cantabira is subsidiary of Wanbury Holding BV, Netherland which in turn is a subsidiary of Wanbury India of course.

  19. Gajanand Sharma says:

    Why so low volume in Tirupati Sarjan ?

  20. STP says:

    Sir.. please check ur mail.. have replied to the question u asked…

  21. Sameer Anand says:

    ACE, thatvdebt repayment is part of CDR package. But when would CDR packagevbe implemented is not clear. That is why I am finding it difficult to arrive at EPS estimates for Wanbury.Please help.

  22. sagar says:

    Hi Ace, in case you are following SKM Egg, could you please help me understand why the compnay is not paying taxed even though its manking profits. In their annual report 2013-14 they have mentioned on page 36 that they have tax payments outstanding worth atleast 6 cr.

  23. Sameer Anand says:

    CDR was implemented in 2013 but this outstanding debt is still there.

  24. Virendra says:

    Ace sir….I was very very bullish on Rajoo Engineers few days back. But the share falling like anything. Shall I book loss and invest in Tirupati sarjan ltd.? Please suggest something. I am really scared regarding Rajoo now😦

  25. hardyboy says:

    any news on liberty merger of companies

  26. hardyboy says:

    does garware rope have an indian competitor?.also can techinical textile command 25 pe ever.likely to give good quarter.

  27. HITESH says:

    Dear Sir, I came to know about your blog recently. I want to know about SKM Egg product. Will you please advise.

  28. HITESH says:

    I am holding Gujarat NRE coke at very high rate and then averaged it but still average price is 30. Today i came to know that Siemens filed liquidation for Guj.NRE coke. Please advise whether i should exit or average it by more share to keep my purchase price low and then exit once price spikes comes.

    • i am not at all interested in this company. If at all it comes out of its mess, it will take a lot of time. Averaging should be done if the fundamentals do not change with price, but here the case is different isnt it…

  29. yash says:

    Ace sir your views on Menon bearings

  30. Puru says:

    The results are good….. even then it fell till around 11 but bounced back quickly.
    this is where I made my mark to buy Rajoo. Now the opportunity came.

  31. Sameer Anand says:

    Wanbury Estimates after paying off liabilites:- Turnover 700 Crores, OPM of 17% would lead to NP of at least 50-60 crores with EPS in the range of 30-35. That is how I arrived at these figures. What are your expectations ACE?

  32. hafizul09 says:

    Hello Ace ji…good evening…sorry to disturb u again by posting another concern—this time it is regarding promoters of Waterbase—-Thapar group——I know first u will ask for the source/links from where the confusion raised, so I am mentioning that first………….direction—->waterbaseindia website—->about us tab—–>Investors Relations—->first item with name ‘compliance report on corporate governance as on 31.03.2015’…..

    Concern : From the document we got to know that the promoters other entity ‘Pinnae feeds limited’ and Waterbase has purchased the finished feeds from this entity in FY2014-2015….which is not a concern but the concern is that those transactions were done without the required approvals from shareholders……….all these last 1year they have kept us, shareholders in deep DARK………which is not fair and not good at all….its a serious management issue and one of the worst corporate practice……………….

    Impact: This arrangement of sourcing finished product from a related company raises the possibility of two important issues; namely
    1. The possibility that most of the profits on the sale of output are passed on to the related company, where presumably the Thapar family has 100% ownership—–I mean there is every possibility that the feeds were bought at much higher price than market price and that extra amount has got into pocket of Thapar deceiving the shareholders in big big way, and

    2. Somewhere in the future this related company will be merged into Waterbase to the detriment of the interests of the WB shareholders; in other words Thapars will increase their holding in Waterbase at less than fair value—this will again deceive the shareholder in big big way….

    How the so eminent promoters (Thapar group) with so much of corporate reputation(positive of curse) can exercise this kind of unfair practice and deceive the all important shareholder….I am surprised to see this as I was having complete faith on Thapar group and that is why I bought the shares of Waterbase as to me the first mandatory condition is to have a good and faithful management(learnt the lesion by burning my own fingers in big way in Lycos)

    Could you please share ur view on the issue please(and my humble request is please don’t be biased to Thapar group just because u like the stock/ur recommended stock/reputation of Thapar gourp, rather please give ur view being 100% neutral which will help us in a big way)….

    Thanks in advance!!!!!!

    • care to highlight where i have given a biased view?

      • hafizul09 says:

        Hello Ace ji…I am not saying that u have given any biased view in past…..I requested it to u in advance as I got biased view in past from a lot of people………pls don’t take it like I am accusing u……….as I got in past from other people, I do mention it in advance to all people from some time whenever asking for any views…………anyway could u please share ur view please………..this has created a very bad impression on Thapar group and I want ur view on the same asap…………Thanks in advance!!!!!!!!!!!

        • i dont prefer such literature though. also, why should they have to get a node from shareholders for pre-existing contracts ???? Furthermore, i would be glad the day they decide to merge their unlisted firm with them but who told you they are giving undue advantage to the unlisted company?

          • hafizul09 says:

            Hello Ace ji….in the document its written that they will take the approval from shareholders in the upcoming AGM BUT the transaction already done——so the qs is why do they did the transaction before taking shareholders’ nod…? now even if shareholders give nod in the upcoming AGM they will never know the price at which the transaction has been done….so that means WB promoters are keeping shareholders in dark………now qs is why did they do so….either to take undue advantage by buying the finished feeds at higher price or its due to show the sales of WB higher(WB must have sold those product with its brand name and that got added to WB’s sales whereas the product originally developed by unlisted entity Pinnae feeds)……….so the whole things looking fishy…..however I hope good sense prevails and they do not deceive us, shareholders of WB……WB is one the pillars in my portfolio and want to keep it for very long…………

            • companies act 2013 applies to new contract and not to pre-existing contract and therefore, they are “not” required to take the prior approval from shareholders in this case… they will do it in this AGM as per the procedure and i dont think there’s anything illegal in that. And again, they were “not required” to take a prior approval as per the companies act 2013 for pre-existing contracts.

              • hafizul09 says:

                Excellent Ace ji….This clears all the air and I am going to sleep with 100% peace as no genuine issue in this matters after ur explanation………..Thanks and God Bless U!!!!!!!!!!

  33. kiran says:

    Your views on “Kkalpana Industries (India) Ltd”?

  34. hardyboy says:

    between godrej properties and ashiana housing which one is better,

  35. kannu says:

    Your view on Orbit Exports n Blue Star info at current levels ?

  36. Pankaj Sharma says:

    Dear Ace,
    Result of Sahyadari is out. Its finance cost is worrying me. Can we add more or wait for some more qtr. Please guide

  37. sangram says:

    Your view on nandan denim

  38. hafizul09 says:

    Hello Ace ji……the board is so quite now a days………have one question of overall market condition… the correction over or its a dead cat bounce and NIFTY heading towards 7500-7600?(personally i think its enough and now lets not break 8000 at least and stay above 8300 all the time and up if positive triggers come in future……)

    • hafizul09 says:

      correction…i meant personally i want the market not to break 8000…..will be happy if it does not break 8000………

    • the outlook is still the same, though the short term is stilln ot clear to me

      • hafizul09 says:

        From today’s move(NIFTY down around 200 points) it looks like it may go further down……..with US market set to close in deep Red, tomorrow also NIFTY should go down…..lets see what happens….eagerly waiting for the results of my 4 pillars of the portfolio:

        1)Prima Plastics
        3)Gujarat Themis
        4)Mangalam Drug

        Expecting good results from all these 4 companies and that should help the stocks move up or at least stable in such a negative market(its a credit for a stock to be stable in this carnage)…..

        Thanks Ace for helping me build the portfolio(there were many stocks in my portfolio but I am reducing the number and trying to build a concentrated portfolio with the companies having good and faithful management and future growth potential-business wise—which should move the stock price as well)….

        Thanks again…God Bless U!!!!!!!!!!

  39. hardyboy says:

    how is mayur uniquoter and tv today

  40. SACHIN says:

    Sir I want to know about Dr. datsons on an urgent basis. I am holding few thousand shares of this company and there is a news that Court has appointed liquidator to liquidate the assets of the company. I did a lot of research about this company and found that the company is going to turnaround itself with the orders it will receive from many countries.

  41. Rajesh says:

    Dear Ace, Is Rajoo Engineers still good to hold? Thanks.

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