Wealthman91

Here for all things financial

[Wealthman91 @Wealthman91]

@CoachFHM Fantastic work!! Well done

[Wealthman91 @Wealthman91]

@CoachFHM Huge result! Well done 💪🔥

[Wealthman91 @Wealthman91]

@tywoosley23 Incredible stuff!! Well done to you both!

[Wealthman91 @Wealthman91]

@CoachFHM Incredible stuff Francis!! 2026 is gunna be 🔥💪🙌

[Wealthman91 @Wealthman91]

@CoachFHM Huge!! Wel done Gary!!!

[Wealthman91 @Wealthman91]

@CoachFHM Yeeeeeew!! Excited for the next block and what is to come mate 💪🙌

[Wealthman91 @Wealthman91]

@CoachFHM Amazing! Well done

[Wealthman91 @Wealthman91]

@puppyeh1 Incredible value created here 😍

[Wealthman91 @Wealthman91]

@CoachFHM Looking amazing brother!

[Wealthman91 @Wealthman91]

@Meezaaninvestm1 $FND.AX doesn’t seem like such a dumb purchase now 😂

[Wealthman91 @Wealthman91]

@CoachFHM Well done!! 💪🏻💪🏻💪🏻

[Wealthman91 @Wealthman91]

@theoliveranwar Discipline

[Wealthman91 @Wealthman91]

@delbz88 But I still think it’s undervalued now and if they’re guidance is strong for FY25 this only increases what I consider fair value.
I’ve held since Dec22 and will continue holding unless they stop executing so well 💪🏻

[Wealthman91 @Wealthman91]

@delbz88 At $2.35 per share market cap is $115m.
They’ll probably do $26m EBITDA for FY24 (financial year end 31/3/24).
Assuming a 10x multiple for when TSI India (the business they partly own) lists on Indian stock exchange, that’s $260m.
They’ll own about 62% of TSI at that IPO

[Wealthman91 @Wealthman91]

@delbz88 For example say by FY27, EBITDA is $50m. Assuming the same logic:
$50m x 10 EBITDA multiple is $500m
62% of $500m= $310m which is $6.25 a share.
Obviously this all comes down to their growth and the the EBITDA multiple that TSI will list at..

[Wealthman91 @Wealthman91]

@delbz88 (Local mgmt will own 19% and Piramal about 19%) so 62% * 260m = $161.2m value, or ~$3.30per share.
However they probably won’t list TSI on the Bombay stock exchange for another few years so if they keep growing their EBITDA at this rate it would be much higher

[Wealthman91 @Wealthman91]

@FresnoCapital @puppyeh1 Mine too! Started buying in Dec-22 and continued all throughout 2023. Average price $0.61

[Wealthman91 @Wealthman91]

@CoachFHM Friday mornings (my time) are my favourite part of the week because I get my check in 💪🏻🙌

[Wealthman91 @Wealthman91]

@theoliveranwar Always Zyzz ❤️

[Wealthman91 @Wealthman91]

@CoachFHM Well done mate!! Great work