youth of india RKG

[youth of india RKG @rpgmanda]

@supriyasahuias @tnforestdept @UNEP @IUCN @IUCNssc @WWF @WWFINDIA As a Loco pilot
Advising kindly provide in
Bangalore,Hosur -Dharmapuri section and
Jolarpetai - kuppam, Bangalore section also thank you

[youth of india RKG @rpgmanda]

@pratik0227 Item no. 1 is closed for investment
Not showing to invest more

[youth of india RKG @rpgmanda]

I unable to sell my portfolio
On #sbimf through yono and SBI website

Why??

[youth of india RKG @rpgmanda]

I unable to sell my portfolio
On #sbimf

Why??

[youth of india RKG @rpgmanda]

@TheOfficialSBI
I want to sell my silver etf
Already 1 month old portfolio, I unable to sell

Why?

[Arun Pudur @arunpudur]

💔 British Missionaries tortured Nagas to convert.

Then In 1964, Nehru barred Hindu sadhus from entering Nagaland “to protect culture” but freely allowed Christian missionaries.

Result today: Nagaland is 88% Christian, Hindus just 8.7%.

https://t.co/7rPNjFDmUs

[youth of india RKG @rpgmanda]

@Indianinfoguide UP is big state it is equal to 5 state,
So UP need fund equal to 5 state funds

[youth of india RKG @rpgmanda]

https://t.co/iv7AoriY26

[Tanmay 🇮🇳 @Tanmay_31_]

Oswal Pumps Limited IPO

Final Verdict

Risk Takers Can Evaluate For Medium Term

Highlights of the Issue :

Date : 13-17 June
Price Band : 584-614

Size : 1,387 Crore
Fresh - 890 Crore
OFS - 497 Crore

*Promoters have sold another 308 Cr via Secondary Sale

M.cap : 6,998 Crore

Objects Of The Issue :

▪︎ Repayment Of Debt - 311 Cr

▪︎ Funding CapEx towards Setting up Aluminum Frame Facility, 1.5 GW Solar Module Facility and 1.5 GW EVA Encapsulant Facility - 273 Cr

▪︎ Funding CapEx for Purchase of New Machinery, Automation, Modernization - 90 Cr

▪︎ GCP - 216 Cr

Key Pointers :

▪︎ Oswal Pumps is India's Fastest Growing vertically integrated Solar Pump Manufacturer

▪︎ Oswal Manufactures Solar
Powered and Grid-connected Submersible and Monoblock
pumps, Electric Motors comprising Induction and Submersible Motors as well as solar modules, under the ‘Oswal’ Brand and now foraging into Solar EPC Segment

▪︎ The Company Has done backward integration which includes Plastic Moulding, Submersible Wires, Aluminum Die Casting, Thrust Bearing,
Stamping, Investment Casting, Solar Modules, Etc.

▪︎ The Company Intends to Deleverage its Balance sheet by a large margins and increasing Capacities and backward integrating into Solar Modules, Aluminum Frames and EVA Encapsulant

▪︎ Oswal Pumps is a direct Beneficiary of Government's PM Kusum Yojana (87.3% Revenue from this scheme)

Financials and Projections :

FY23
Revenue : 387 Cr
PAT : 34.2 Cr

FY24
Revenue : 761.2 Cr
PAT : 97.7 Cr

9M FY25
Revenue : 1067.3 Cr
PAT : 216.7 Cr

FY25 TTM
Revenue : 1,415 Cr
PAT : 285 Cr

FY26E
Revenue : 1,950 Cr
PAT : 410 Cr

Valuing Oswal Pumps at 20× FY26E PAT, Fair Value Comes At 718, Implying An Upside Of 17%

Key Concerns :

– Overdependance on Government Schemes (PM Kusum Yojana - 87% Revenue)
– The Scheme is getting ended to 31st March 2026
– It is very likely that the scheme will be extended/Reformed/Rebranded

– The Cash Flows aren't giving a comfort and diversification in Solar modules and EPC looks unnecessary

I myself cannot value a business with a rich Multiple which has such a large dependancy on a specific scheme, Yes it is likely to get extended but not at all interested to invest in ifs/buts

The Payment Cycles are having some concerns in some specific states off late

Yes, the Demand is robust, FY26 will be very healthy and lot of scope in Solar Pump Installation

But not sure will Markets give it a better multiple or look for more clarity in future

It's even similar for its listed peer, the Market is lesser interested to discount future but want to value based on short term developments and results

In Future Markets might Fetch better Multiple For Oswal after getting better clarity but atleast at this point I am not comfortable to give it

The Strong Government Push, Capacity Expansion, Backward and Vertical Integration and Inhouse Modules are key Positives

There are less than 10% chances where Government Tinkers the scheme but yes, It's Open and not completely shut

I Personally Feel That such companies should come at attractive Multiples (25-26× FY25 is not at all cheap)

Shakti Pumps, it's exact and larger peer with Comparatively lower Overdependance and with a track record as a Listed Company is available at almost similar Multiple

Non Risk Takers Can Avoid this IPO

This Whole Analysis Is Just A Personal View,
Only For Educational Purposes

[youth of india RKG @rpgmanda]

@Atulsingh_asan Beda sir , kannada mataad beda,

Namdu hed beku nivu,

[youth of india RKG @rpgmanda]

@grok Ha एलेटस इंफ्रास्ट्रक्चर के बारे में जानकारी दीजिए
और कंपनी किसी मल्टी नेशनल कंपनी के द्वारा equre कि��ा गया है क्या?

[youth of india RKG @rpgmanda]

@grok elatus कंपनी बैंगलोर
के बारे में जानकारी दीजिए

[youth of india RKG @rpgmanda]

@mshahi0024 18 करोड़ प�� किलोमीटर में कौन सा हाइवे बनवाएगा भाई

गांव का रोड भी बनाता इस बजट में

[youth of india RKG @rpgmanda]

@grok @grok भारत में तेली जाति के बारे में अपने विचार बताइए

[youth of india RKG @rpgmanda]

@blrcitytraffic
Challan no 70188032 is wrongly updated on my bike My vehicle no KA03KF 8993 and it is Honda livo bike not scooty, as per challan image it is scooty and in this vehicle no. 4993, kindly cancel this challan on my vehicle thank you

[youth of india RKG @rpgmanda]

@grok hii tell information about vindhya ladies fashion tailoring bangalore

[youth of india RKG @rpgmanda]

@JM_Scindia @IndiaPostOffice @HqPostal @cpmgup Today my parcel is delivered 😍
Thank you very much
Indian post ♥️♥️

[youth of india RKG @rpgmanda]

@JM_Scindia
@IndiaPostOffice @HqPostal @cpmgup
R/sir, I R k gupta,
I booked my parcel on 07.01.25 from Bangalore to Mirzapur but my parcel is missing/not delivered, and Indian post not replying, request to kindly see the matter
Thankyou , details mention belo
A- CK103705041IN

[youth of india RKG @rpgmanda]

@JM_Scindia @IndiaPostOffice @HqPostal @cpmgup @JM_Scindia
@IndiaPostOffice @HqPostal @cpmgup
Approximately my parcel is missing for onemonth
Still I not get, Bengaluru to Mirzapur UP,
and no online update last 9 days

Request to kindly look the matter
Thankyou

[Vatsala Singh @_vatsalasingh]

मनोबल कमज़ोर हो रहा है? प्रत्येक दिन ये सुनिए...