Uttam Lakhani

Live & Enjoy Life King Size

[Zafar Shaikh @InvesysCapital]

Bhaiyya Jisko jaha profit lena ho le le.
Hum to $80 par hi manenge
#Silver

[First Principles Investing @RahulRao_1992]

Thirumalai Chemicals is in a rather binary situation.

TCL is either going to be a massive turnaround or a cautionary tale taught in B-schools.

In 2019, it came up with a brilliant plan to use a by-product of shale gas processing i.e - n-butane for making Maleic Anhydride (MAN) and from MAN -> Malic Acid (Citrus flavour) and Fumaric acid.

There are 9-10 producers of MALIC ACID in the world and all of them are connected with pipelines or in close proximity to Oil refining units because n-butane is the key raw material of MAN & MALIC Acid.

The brilliant part was that this n-butane derived from Shale processing i.e - in the US Appalachian region was literally being burnt by refiners because there were no takers for it.

In 2019-20, TCL estimated with about 110 Million dollars, they'd be able to build a plant that would use n-butane at literally 50% of what anybody in the world procures it at.

At $110 million project costs, co' was expected to earn an EBITDA of ~40% with a payback period of under 3 years.

Brilliant in theory.

To cut costs, they modularly constructed the plant in India and shipped it, cutting construction costs by 40%.

Covid couldn't care less.

By 2022, TCL had committed some ~50 million dollars and faced with the reality of writing this expense off as 'sunk costs', it instead decided to go ahead.

By then, Labor, contractor & material costs in the US had increased significantly. Even chinese equipment was banned in US, compounding TCL's project cost.

A series of unfortunate events meant that project cost continued to increase. From $110 Million to $180 million to $235 million to $255 million to now $340 Million according to ICRA in its latest credit rating upgrade on 13th August 2026.

The payback period with $340 million of project cost is now at least ~8-10 years.

Sadly, TCL ain't go the dough. It's balance sheet looks like a botched up nose job.

Debt as on March 2026 stood at ₹2150 cr. Consolidated Operating profit on a TTM basis was ₹20 crores and cash from operations in FY26 was -₹131 crores.

Even upto this point, multiples equity & debt raises, preference shares & corporate guarantees have been used to keep its head above the water.

And as a final admission of something is seriously f*cked, on 4th August TCL's BOD approved a ₹750 cr fund raise.

That's 50% of their Shareholders equity outstanding.

Promoter holding is already down to 37%.

Basically, TCL has four assets:

1. Pthalic Anhydride (PAN) in Dahej ✅
2. Pthalic Anhydride (PAN) in Ranipet, Tamil Nadu ☑️
3. Maleic Anhydride (MAN) in Malaysia 🔴 (non-functional)
4. Maleic Anhydride, Malic Acid in US 🔴

At least 2 of them are in dire straits and the remaining PAN, while a good asset is itself suffering from low spreads (Q1FY27 was good).

It'll be super interesting to see how this plays out.

Image source: The intelligencer . net (2023) & Google Maps.

[Intrinsic Compounding @soicfinance]

Leading 2W/3W OEMs have strong capex plans in place to meet rising demand.

According to industry reports, 2W-EV penetration is expected to rise to ~25% by FY31, from ~11% as of Q1FY27.

Tailwinds can be seen across the EV value chain.

Disclaimer - not a recommendation to buy/sell

[Suresh K @SureshKBN]

MMFORGINGS - DC revenue time line

[Sekhar @LearningEleven]

X-Men: Days of Future Past

UFlex: "...See if you add up the capacities what are coming up, if I can add up, we should double our volumes in next three years time..."

MM Forgings: "...yes, the hyperscaler business is filtering out into the domestic forging market and there is a strong demand from such companies...we are definitely moving into businesses that support hyperscalers. No doubt, we see that right in front of us and a lot of business is coming our way...

Rishabh Instruments: "...On inorganic, we have got a couple of opportunities which we are looking at, and we will, if they materialize, we will announce them when, when it is appropriate..."

Gufic Biosciences: "...with capacity utilization, with natural business progression as well as exports, a margin expansion along with domestic business also...I would say start of the improvement of margins going forward..."

Physicswallah: "...We have a 1.7X jump in our enrollments and revenue in vernacular categories...our state board which is a huge TAM, the enrollments are doubled, so does the revenue is double...

Rubicon Research: "...earlier our guidance was 22% to 23% on EBITDA, but now we are comfortable to revise this upwards for the whole of FY '27 to 23%..."

Gem Aromatics: "...through '28, Crystal will be, say, the Crystal products will be more than 50% of the overall revenue...

[Sandeep Kulkarni @moneyworks4u_fa]

Since it's the that time of the year when everyone talks about financial independence here are some things I have learnt about personal finance over the years, mostly through living them rather than reading them in a book.

1/n 🧵

[Zafar Shaikh @InvesysCapital]

#Smallcap Index adjusted fur USDINR gave generational breakout in 2023 followed by breakout retest in Mar26 . I believe we are not seeing Mar26 lows again.

Also the texture of market is shifting. The largecaps are gradually decaying while Small-Midcaps are growing in new age buisness space.

It's like Nifty50 moment of US in 1970's when Bluechips got dessimated & new age TECH companies took over.

[Zafar Shaikh @InvesysCapital]

Whenever #Nifty500 makes new high after >20% drawdown, it usually runs for > 3 quarters & delivers >+30% gains

#Nifty500 currently in drawdown of -4% from previous ATH

[Antifragile Thinking @unseenvalue]

Blue Jet’s Q1 FY27 call: too many institutions, all hunting for the unseen.

[Suresh K @SureshKBN]

father of all business updates so far

[Shreenidhi P @nid_rockz]

Good #Q1FY27-23/7/26 post 4pm till 7pm

Fineotex Chemicals
#Fineotex
#FCL
Solid Q1FY27
CrudeChem acquisition impact on consolidated nos
Highest ever revenue, EBITDA, PBT and PAT in comps history
Solid QoQ and YoY uptick across all
Rev at 377cr vs 137cr, Q4 at 314cr
Other income at 10cr vs 9cr
EBITDA at 59cr vs 25cr⏫135%
PBT at 65cr vs 31cr, Q4 at 48cr
PAT at 48cr vs 25cr, Q4 at 44cr
Higher tax paid in Q1FY27 vs prev qtrs
Volume growth of 130.8%
RoIC of 33%

Motilal Oswal Financial Services
#MotilalOFS
Stable and steady quarter
Rev at 3425cr vs 2737cr, Q4 at 2679cr
PBT at 1533cr vs 1405cr, Q4 at -194cr
Q4 was a loss quarter due to losses booked in Commodity trading
PAT at 1273cr vs 1155cr, Q4 at -219cr

Spandana Spoorthy Financial Services
#Spandana
Another profitable quarter after Q4FY26
Disbursements picking up
NIMs at 12.5% vs 8.2%, Q4 at 9.9%
AUM starts seeing uptick
AUM at 4887cr⏫11% QoQ
Q1FY27 disbursements at 1371cr vs 280cr
Lower impairments, improving asset quality
PBT at 17.5cr vs -481cr, Q4 at 8cr
PAT at 12cr vs -360cr, Q4 at 5cr
Standalone GNPA at 2.91%,, NNPA at 0.56%
Consolidated GNPA at 3.64% vs 3.78% QoQ
Consolidated NNPA at 0.56% vs 0.64% QoQ

Suryoday SFB
#Suryoday
Good Q1FY27
Rev at 770cr vs 603cr, Q4 at 691cr
PPOP at 139cr vs 109cr, Q4 at 107cr
PBT at 102cr vs 47cr, Q4 at 65cr
PAT at 75cr vs 35cr, Q4 at 50cr GNPA down YoY, marginally up QoQ
NNPA sharply down QoQ and YoY
Improving asset quality
RoA of 0.38% vs 0.22%, Q4 at 0.27%

GRP Ltd
#GRPLtd
Good Q1FY27,on a lower base
Good QoQ and YoY uptick across all parameters
Rev at 157cr vs 123cr, Q4 at 145cr
PBT at 8.4cr vs 3.2cr, Q4 at 0.4cr
PAT at 4.2cr vs 1.7cr, Q4 at -1.3cr

Sona BLW Precision Forgings
#SonaBLW
#SonaCOMS
Rev at 1157cr vs 767cr⏫54%, Q4 at 1172cr
Other income at 82cr vs 43cr, Q4 at 40cr EBITDA at 303cr vs 202cr⏫49% with OPM down 0.7%
PBT at 276cr vs 171cr, Q4 at 269cr
Excluding other income, QoQ PBT is down
PAT at 220cr vs 121cr, Q4 at 207cr

Gujarat Alkalies and Chemicals
#GACL
#GujAlkali
Blockbuster Q1FY27 with big QoQ and YoY uptick across all parameters
Rev at 1244cr vs 1105cr, Q4 at 1125cr
PBT at 110cr vs 10cr, Q4 at 8cr
PAT at 55cr vs -15cr, Q4 at 15cr

Capital Small Finance Bank
#CapitalSFB
Rev at 314cr vs 270cr, Q4 at 299cr
PPOP at 64cr vs 51cr, Q4 at 60cr
PBT at 55cr vs 42.5cr, Q4 at 54cr
PAT at 41cr vs 32cr, Q4 at 40cr
Aseet quality steady
GNPA and NNPA down QoQ and YoY

Indian Energy Exchange
#IEX
Rev at 158cr vs 142cr, Q4 at 174cr
Other income at 45cr vs 42cr, Q4 at 22cr
PBT at 169cr vs 152cr, Q4 at 164cr
PAT at 135cr vs 121cr, Q4 at 130cr

Malu Paper Mills
#MaluPaper
Turnaround
Rev at 123cr vs 94cr, Q4 at 106cr
EBITDA at 5.8cr vs loss, Q4 at 4.5cr
PBT at 1.8cr vs loss, Q4 at 0.3cr

Decent:
#Infy-inline set, upper end guidance reduced with OPM kept unchanged

[Suresh K @SureshKBN]

tvs motors

[Value | Compounding @oldschoolinvest]

If you're driving an Audi, BMW, Mercedes, etc. and worrying about pure petrol costing ₹170 per litre, it's probably time to sell it and buy a WagonR.

[Uttam Lakhani @devkishanlakhan]

@tvsmotorcompany Hello, wanted to check if there is any update on my query? It’s been couple of days and have not received any calls or any other updates.
Please consider this as a gentle reminder.

[Uttam Lakhani @devkishanlakhan]

@tvsmotorcompany
Requesting your urgent attention.
Booked a TVS EV on 26 Mar 26 from authorised dealer Autorace Automotive, Malad (W),Mumbai.Paid ₹5,000 advance.
Despite multiple follow-ups, no response from the dealer. Complained on 4 Jun 26 via TVS helpline — still unresolved.

[AIM Investments @AimInvestments]

🎥 Missed our Fineotex Chemicals management webinar? The recording is now available.

Our Conclusion:
Fineotex is gradually evolving from a textile chemical company into a diversified global specialty chemical player, with Crude Chem acting as the key growth engine.

Watch the full recording here: https://t.co/rdtgZIf2Kj

#Fineotex #FCL #SpecialtyChemicals

[ishmohit @ishmohit1]

100% true

Used to travel for 2 hours a day earlier. Really impacted the energy levels and quality of life.

Small things in life that have a big impact eventually

[Uttam Lakhani @devkishanlakhan]

@tvsmotorcompany I have shared the details on DM.
I hope get resolution at the earliest.
I have gone to the store multiple times in past 4 months, they just keep lying even the store Manager.
I hope because of such painful experience the name of TVS doesn’t get spoiled.

[Uttam Lakhani @devkishanlakhan]

#TVSMotor #CustomerService

Kindly look into this matter and help resolve it.

[Swapnil Kommawar @KommawarSwapnil]

🚨India’s bullet train push is getting bigger.

After the Mumbai–Ahmedabad bullet train project, the government has announced 7 new high-speed rail corridors:

Mumbai–Pune — 48 min

Pune–Hyderabad — 1 hr 55 min

Hyderabad–Bengaluru — 2 hr

Hyderabad–Chennai — 2 hr 55 min

Chennai–Bengaluru — 1 hr 13 min

Delhi–Varanasi — 3 hr 50 min

Varanasi–Patna–Siliguri — 2 hr 55 min