Manav

[Shreenidhi P @nid_rockz]

Jayaswal Neco Industries
#JayaswalNeco
#JayNecoInd

De-leveraging for 6 years in a row

From FY20 peak debt of 5759cr to Q1FY27 debt at 1884cr

Debt:
FY20 5759cr
FY21 4750cr🔽18%
FY22 4123cr🔽11%
FY23 3392cr🔽18%
FY24 3227cr🔽5%
FY25 2721cr🔽16%
FY26 2117cr🔽22%
Q1FY27 1884cr🔽11%

From almost becoming a bust to reduced debt considerably 👏

Amazing turnaround for Jayaswal Neco Industries

[Manav @m2828k]

@LnprCapital @grok Which stock is being referred above

[Gautam Gambhir @GautamGambhir]

This wasn’t just God’s plan, it was the plan of 1.4 Billion Indians! Each player a WORLD CHAMPION! 🇮🇳 🏆 🏆🏆

[Safir @safiranand]

Matlab Udhar se idhar
Idhar se udhar
In same water tank? 🤦‍♂️🤦‍♂️🤦‍♂️

[Manav @m2828k]

@Prashanth_Krish @bharatbetpf @grok can you help with the entire anchor investor list of Lenskart

[CNBC-TV18 @CNBCTV18Live]

#1QWithCNBCTV18 | Birlasoft report its #Q1Results ;

👉Net Profit Down 29.2% At ₹106.4 Cr Vs ₹150.2 Cr (YoY)

👉Revenue Down 3.2% At ₹1,284.8 Cr Vs ₹1,327.4 Cr (YoY)

👉EBIT Down 21% At ₹138 Cr Vs ₹174.4 Cr (YoY)

👉Margin At 10.7% Vs 13.7% (YoY)

[Manav @m2828k]

@JoshiEien Atul

[Manav @m2828k]

@JoshiEien Jubilant Ingrevia

[Gautam Gambhir @GautamGambhir]

Congratulations to 1.4 billion Indians! Jai Hind 🇮🇳🇮🇳🇮🇳

[Manav @m2828k]

2 Coldplay tickets available for 21st Jan show
DM for further details
#Coldplay
#ColdplayMumbai
#soldout #concert #ColdplayIndia

[Tejjas Kapasii Modi 3.0 🇮🇳 @TejKapasi]

@agrimshah @CPMumbaiPolice @MumbaiPolice Well online and central support yes, but the local police station is not at all helpful, day 6 today assaulters are roaming freely, and who got assaulted going police station daily, for the right FIR, sad to say common man will be treated like this only no justice for them

[Tejjas Kapasii Modi 3.0 🇮🇳 @TejKapasi]

@CPMumbaiPolice @MumbaiPolice
Whenever we raise an issue on Twitter we are reverted, saying visit your nearest police station we did that,the nearest police station doesn't help you nor mentions things in FIR,where does a common man get #justice from? a friend needs help

[Cricketopia @CricketopiaCom]

Gautam is the most misunderstood cricketer in India. He is the greatest team man, great reader of the game, selfless.

Ashwin on Gambhir

[Ganesh S. Nagarsekar🇮🇳 SEBI Regt RA-INH000008835 @bharatbetpf]

China looking at all of the "China+1" pitch decks now!

[Manav @m2828k]

@ManUtd MK

28

[Intrinsic Compounding @soicfinance]

Supply Side Dominance & What it Means

1. Having a framework and following it is extremely important when it comes to the investing world which is full of noise and new ideas every day. How to differentiate between businesses which have supply side dominance or the others which are commoditised?

2. Simply think of a neighbourhood, where one Grocery store has opened. Initially the grocery store does a lot of business and earns good return on capital employed. Looking at the money the grocery store is making. Many other stores start opening and there comes a point of time when the return on capital these Grocery shop owners will become unattractive. In plenty of Industries we have seen as supply side competition increases. Companies even go under loses. Here is a recent example from the Packaging industry:-
https://t.co/nFLySthcw0

3. Is there a way we can avoid these capital cycles by focusing on businesses which have supply side Dominance?

If you ask Mr. Charlie Munger then he will say- Yes :).

"Go to places where competition is either Weak or Dumb."- Charlie munger

4. One simple metric to check about the supply side is to count the number of players that exist in the industry and how much market share each player has. In some of the industries like Child Care Hospitals- You will observe that the Largest player has cornered nearly 40%+ of the Industry Market share in terms of Beds available. (Rainbow & the Children Hospital industry)

5. If you look at the largest Coffee Processor in India, that company has captured close to 10% of the World Market share when it comes to Coffee Processing due to the sheer size of the business and scale they have built in a niche industry. (CCL Products & the Coffee industry)

6. Some industries are limited by the number of licenses that are issued. Majorly due to Casino Policy of India, there are handful of Offshore Casinos which operate on top of Mandavi River in Goa. License and controlled production can be a very powerful source of Supply Side dominance whether in Casinos or Explosives. (Delta, Big Daddy & Pride)

7. There are few companies or industries which end up becoming dominant due to Economies of Scale. The moment you scale, you can negotiate better Raw Material Terms with your suppliers. Thereby, lowering your COGS. Some of the other companies go for integrated production i.e. doing most of the things in house via backward integration or on single piece of Land. This leads to Local Economies of Scale. Businesses like AIA and SRF have done this to a certain extent.

Thus, search for businesses where the incumbent benefits due to Time spent in the industry. His assets are depreciated, operating leverage kicks in, and due to sheer size. These incumbents end up benefitting from Economies of scale. For a new player to come in and compete, it will take N number of years to struggle at low ROCE or Losses to get to ROCE's the incumbents achieve. A lot of times the ROCE of these incumbents will be capped at 20-22%. That is the beauty of it.

This is just a small write up :)

There is an entire Chapter with multiple examples in the Upcoming book in December!!

Disc: No Buy or sell recommendation in the write up. Only to force you to focus on Supply side of industries more vs Demand.

[Manav @m2828k]

@Deep_Shah1210 GSW for the W 🥳

[Gurmeet Chadha @connectgurmeet]

FY16 Full-year net profit for HDFC Bank - 12800 cr

Q3FY23 single quarter net profit HDFC Bank ~12800cr

Behemoth!

@aditya_kondawar @Compcircle

[Manav @m2828k]

@sahil_vi Angel One??

[Manav @m2828k]

DLF!! What a transformational journey the company is going through 🚀

This super app will surely be something to look out for 🤞🏻

[ET NOW @ETNOWlive]

Guess who else is jumping on the super app bandwagon?

DLF! Yes you read that right! DLF is building an app that will also have loyalty points. How will it work? Watch 👇

@pushpanomad @NayantaraRai #DLFRetail #StocksToWatch