JRK Research

SEBI Registered Research Analyst
INH300008881

[JRK Research @JRKResearchDesk]

#HDFCBANK Q3: PAT UP 18.5% at ₹12259 Cr & NII UP 24.6% at ₹22988 Cr YoY

Asset Quality Stable: Gross NPA 1.23% vs 1.23% & NIM also Steady at 4.1% QoQ

Deposits Growth 19.9% & Credit Growth 19.5%

TTM P/E 21x (10 Yr Median PE 25.7x) & P/Bv 3.3x (10 Yr Median P/Bv 4.4x)

ROE: 16%

[JRK Research @JRKResearchDesk]

Sharing our latest Investment Pick:

Mallcom (India) Ltd

(1-2 Years)

[JRK Research @JRKResearchDesk]

#UTIAMC CMP 851

Trendline Breakout with Gap up + rise in volume.

Now, formation of Pennant Seen.

Research Analyst: @Chart__Guru

[JRK Research @JRKResearchDesk]

Deep Industries at 300 now; No change in Conviction

[JRK Research @JRKResearchDesk]

Sharing our latest Investment Pick:

Deep Industries

(1-2 Years)

[JRK Research @JRKResearchDesk]

Welspun Enterprise Board to meet on 30 December for Buyback & Interim Dividend

[JRK Research @JRKResearchDesk]

KTAs from #Welspun Enterprise "Asset Monetization Concall"

- Divestment Done: 5 HAM & 1 BOT
completed Highway Projects portfolio to Actis.

- Total Consideration: ₹ 2700 Cr (Approx ₹2200 Cr received & ₹500 Cr to be received by Mar'23)

1/n

[JRK Research @JRKResearchDesk]

Welspun's Order Book stands at ₹11400 Cr (mostly water projects now) which gives revenue visibility of 2 to 3 years.

4/n

[JRK Research @JRKResearchDesk]

KTAs from #Welspun Enterprise "Asset Monetization Concall"

- Divestment Done: 5 HAM & 1 BOT
completed Highway Projects portfolio to Actis.

- Total Consideration: ₹ 2700 Cr (Approx ₹2200 Cr received & ₹500 Cr to be received by Mar'23)

1/n

[JRK Research @JRKResearchDesk]

4) Welspun has Equity commitment in one of its HAM project approx ₹ 225 Cr.

5) So roughly total outflow would be (630 + 40 + 40 + 225) ₹935 Cr.

6) So Net Cash Left in Books will be approx ₹1300+ Cr immediately + ₹500 Cr later on.

3/n

[JRK Research @JRKResearchDesk]

Technical Report #AutomotiveAxles

Consolidating post breakout - This configuration occurs after a
larger trend has come to a temporary halt.

If all goes as per Technicals, we can expect a momentous upmove.

Research Analyst @Chart__Guru /
JRK Research Team

[JRK Research @JRKResearchDesk]

Sharing our latest Investment Pick:

Deep Industries

(1-2 Years)

[JRK Research @JRKResearchDesk]

November GST collection up 11% YoY at ₹1.46 lakh crore

This is the ninth straight month when collections from GST has remained above ₹1.40 lakh crore.

[JRK Research @JRKResearchDesk]

#Panama Petro scales to fresh highs. Cmp 394

[JRK Research @JRKResearchDesk]

Our Conviction Pick: Panama Petro (Cmp 290) shared in our Weekly Report.

Disclaimer: Please Check our Research Analyst Disclosures & Investor Charter in our Website https://t.co/XY4hLEMBqp

[JRK Research @JRKResearchDesk]

#DeepIndustries

Extract from JRK's Interaction with the management in the Q2 Concall..

Mgt guided Q3 will be better than Q2 & Q4 will be better than Q3.

We have recommended Deep Industries in our Muhurat Picks 2022, our conviction remains same.

[JRK Research @JRKResearchDesk]

#HINDUSTANFOODS ~ MUHURAT PICK UPDATE

ALL TGTS ACHIEVED

HIGH 645 (GVN AROUND 460-470 ON 17 OCT)

JRK RESEARCH DESK

[JRK Research @JRKResearchDesk]

JRK Muhurat 2022 Technical Pick 2: #HindustanFoods

Buy around current levels (460-470) & Add in Dips till 450 levels; Target 580 & 630 with Stop Loss at 400 (closing basis)

[JRK Research @JRKResearchDesk]

#Panama Petrochem Q2

PAT at ₹ 67.4 Cr (+9% YoY & +4.4% QoQ) & Revenue at ₹ 614 Cr (+9% YoY & +11% QoQ)

EBITDA Margin at 14.43% vs 15.65% (QoQ)

P/E 7.5x & MCap to Sales 0.8x with Positive OCF & almost Debt Free

Declared Interim dividend of ₹ 3

[JRK Research @JRKResearchDesk]

Our Conviction Pick: Panama Petro (Cmp 290) shared in our Weekly Report.

Disclaimer: Please Check our Research Analyst Disclosures & Investor Charter in our Website https://t.co/XY4hLEMBqp

[JRK Research @JRKResearchDesk]

#AVANTEL ~ MUHURAT PICK UPDATE

ALMOST ALL TGTS ACHIEVED

HIGH 460 / CMP (GVN AROUND 300-310 ON 17 OCT)

[JRK Research @JRKResearchDesk]

JRK Muhurat 2022 Technical Pick 5: #Avantel Ltd

Buy around current levels (300-310) & Add in Dips till 280 levels; Target 410 & 470 with Stop Loss at 240 (closing basis)

[JRK Research @JRKResearchDesk]

Fact sheet of Major Private Banks as on H1 FY23.

[JRK Research @JRKResearchDesk]

Cash Flow from Operations ₹ 42.6 Cr (6M FY23). Company invested most of its Free Cash Flows in MFs, Bonds & other financial Instruments ~ ₹ 30 Cr

Overall Good numbers but near-term upside limited due to high valuations. Long-term growth drivers / prospects intact.

#MAPMYINDIA

[JRK Research @JRKResearchDesk]

#MAPMYINDIA Q2

PAT at ₹ 25.4 Cr (Flat YoY & +5% QoQ) & Revenue at ₹ 76.3 Cr (+34.6% YoY & +17.4% QoQ)

Operating Margins declines: EBITDA at 40% vs 46% (QoQ)

1/3

[JRK Research @JRKResearchDesk]

Reasons behind Margin decline:

Increased Marketing Spends for brand building (for new client acquisition)

Higher Project & field suvey expenses (for new use case adoption)

Valuations: PE 80x & MCap to Sales 30x (Median MCap to Sales is 49x since listing)

#MAPMYINDIA

2/3