Ancora imparo. Small cap investor. (This is my personal investing journal. I have nothing to sell. I'm not responsible for gains or losses based on my tweets)
Joined May 2019
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Dhabriya Polywood
500 cr maker of building materials and interior solutions. 35x return since listing and I think it can continue to compound nicely. Valuations undemanding at 15x pe ttm. Good results and H2 will be stronger with new products coming online.
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Take a moment to appreciate the incredible detail on this lathe-turned pillar in India. I’d give almost anything to go back in time and see how this was made.
🐐
Divis Laboratories
#Divis
#DivisLab
Solid Q2FY27 with big QoQ and YoY uptick across all parameters
Solid margin expansion
Highest ever set
Rev at 3676cr vs 2715cr⏫35% YoY
Q1 at 3080cr⏫19% QoQ
Other income at 94cr vs 145cr
EBITDA at 1566cr vs 888cr⏫76% YoY
Q1 at 1255cr⏫25% QoQ
OPM at 42.6% vs 32.7%⏫989 bps
Q1 at 40.75%
PBT at 1505cr vs 912cr⏫66% YoY
Q1 at 1180cr⏫25% QoQ
PAT at 1127cr vs 689cr⏫64% YoY
Q1 at 902cr⏫25% QoQ
OCF at 384cr vs 1645cr
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Highness microelectronics - A very good concall with good clarity from the management on where to stick and what to do.
All eyes on cash flow management and execution. #highnessmicroeletronics
Diligently following up with low-level babus to get back in the government’s “good books”. I voted for them twice. We pay a huge amt of tax in this country.
I never understood single issue voters earlier, but maybe I understand them now. #SIR
It’s awesome to sometimes see SMEs who have spent 10-20-30 yrs slowly building their biz see such an inflection in growth post listing.
It’s as if they were stuck driving in the gullies of small business, and then finally get a big beautiful highway to drive fast on 🏎️
Aimtron con call -
Really liked tone and candour. Has the DNA of a future large company
* Base case +50% organic next 2 yr to 1,000cr
* 2 acquisition in discussion by Q4
* Will merge unlisted cos into listco next yr
* Best case - 1000cr FY28, 2000 cr FY29
* Margins sustainable
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V Marc India #HarResultKuchKehtaHai
#GOOD
EBITDA grew 77.46% YoY to ₹87.89 Cr as installed capacity reached 260,000 KM
👉 This business is rapidly scaling its cable production out of Haridwar as newly added lines begin shipping dispatches. Revenue reached ₹719.85 Cr for the quarter, reflecting substantial physical volume growth across both domestic distribution networks and foreign buyers.
👉 Operating earnings kept pace with dispatches, delivering EBITDA of ₹87.89 Cr. Profitability remained steady because an inventory build helped balance higher raw material usage during the period, allowing core operating margins to hold firm rather than thinning out under higher factory activity.
👉 The strain appears in the cash flow statement. Operations saw a cash outflow of ₹45.67 Cr during the first half because customer receivables and warehouse stock tied up significant capital, forcing the company to lean on bank loans to fund ongoing operations.
👉 Near-term production visibility gets direct support from the ₹100.74 Cr order from Purvanchal Vidyut Vitran Nigam, scheduled for completion by January. The key thing to watch next is whether customer collections pick up fast enough to convert these higher shipments into actual cash.
👉 Growth catalyst: The ₹100.74 Cr order from Purvanchal Vidyut Vitran Nigam for high-tension cables must be completed by January 2027, bringing confirmed manufacturing dispatches over the next quarter
👉 Road blocker: Operations used ₹45.67 Cr of cash during the first half as ₹488.84 Cr was locked in inventory, expanding total borrowings to ₹359.82 Cr with no date given for cash conversion
Public NSE/BSE filings · Not Investment Advice
#VMARCIND #Q2FY27 #StockMarket #Earnings
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#Q2FY27
Observation:
Indian largecaps, midcaps, smallcaps, microcaps, SMEs are absolutely smashing sixes after sixes this earnings season
Many blockbuster/Very Good results in Q2FY27
Usually, Q2 is considered as lean quarter for Indian corporates
Record numbers everywhere despite higher RM costs and inflationary pressure
Must say, Indian companies have managed these challenges very well till now
And also balance sheet for most of the companies is very very healthy despite taking up huge capex
Amazing #Q2FY27 with almost 85% companies that have reported numbers already and I'm sure another 15% will deliver great numbers too
More power to Indian corporates 👏👏
Pivoting from AI stocks to IT stocks is an extremely lazy trade
There’s a whole wide world of stocks offering good earnings growth .
Sometimes it’s best to park certain themes in the “too hard” bucket and look elsewhere
Durlax Top. On my watchlist, they posted huge profit in Q2.
This was an avoid for me due to red flags below. Promoter interview on YT also very unconvincing.
75 cr debt
110 cr receivables
50 cr pref to promoter -> 25% dilution after huge OFS + rights issue
This stock stinks 💩
Durlax Top Surface
Avoid : Reasons as per my understanding >>
1) Big OFS by the promoter - 30% of the total proceeds . Promoter holding to be reduced to 50% post issue from 95% Big dilution.
2) Contingent liability of total 7 cr is a big issue as they had export obligations for imported machinery which they have not adhered to .
3) Cash flows last year is screwed - 60 cr debt. D/E at 2.6 Whopping receivables . Sales seems like forced dumping to distributors. Balance Sheet seems stressed
4) Out of 28 cr of gross proceeds 5 cr is issue expense
5) Total number of distributors reduced from 23 to 16 even though the company says that its is growing fast. Doesn't sync .
#IPO #durlax #SMEs
Gov has put out a detailed note on the Critical Mineral Processing scheme. Connecting the dots for Taurian MPS. The projects are large enough to create meaningful business for Taurian in the FY28/29 timeframe.
