- Negative cash flows: Cash flow from operations is negative from the past 3 years. A 70 year old company still negative cash flows!!!Profits generated are only in book. -High inventory days: 3200 SKUs and doing sales of 80cr. With so many SKUs high inventory is always going to be a problem. All cash flow from financing is stuck in inventory. -Huge debt: 45cr of debt taken by the company till oct2022 to fund the negative operating cash. -High debtor days: 45cr trade receivables (1.36cr seems bad debt more than 1 yr) and 45cr of trade payable very high. Inventory holding days is also very high of 321 days.Trade receivable is 8-9months and payable is 8months. Sales are being pushed with increasing debtor days to distributors. A credit of 8-9months for 8-10% margin business -Bad compliance: Delay in ROC compliances.
35. abc xyz| Link| Bookmark|
April 30, 2023 11:33:15 PM
IPO Guru (1100+ Posts, 1100+ Likes)
Those who wants to earn good money from the ipo/ stock market may not consider the gmp of the issue. They may consider the management, business model, future prospect and the most important thing is the valuation of the stock. Valuation of the stock is always prime importance. Adani Enterprise for was the best classic example and no need for further explanation.
Recently at the time of Exhicon & Infinium ipo , the gmp of both were nil. But I was impressed with their business model & fundamental with attractive valuation. I have subscribed both these issue with FF & gets the fantastic returns in short term. More important is the issue was just subscribed & the allotment was also very generous and mostly all have got it. 1. Exhicon 64 issue price / 104 mar price 2. Infinium 135 / 204.10 Now just think that those who have missed this journey just because of gmp.
27. abc xyz| Link| Bookmark|
April 29, 2023 12:07:30 AM
IPO Guru (1100+ Posts, 1100+ Likes)
Their ultimate clients include some of the leading OEM’s like Tata Steel, Indian oil, Larsen & Toubro, Assam Petrochemicals, Lohia Corporation, Polycab Cables, Indian Railways, etc.
Looking good.
26. SSingh| Link| Bookmark|
April 28, 2023 8:28:25 PM
IPO Guru (1400+ Posts, 800+ Likes)
Who thinks ‘Innokaiz’ is a better bet than ‘De Neers’? Please comment below. DD Sir’s reviews and fact shared in comments of the both the pages points to ‘Innokaiz’. If you have some better points which we all should consider, please share here. Thanks!
26.1. Imhilli| Link| Bookmark|
April 28, 2023 10:00:52 PM
IPO Guru (1200+ Posts, 700+ Likes)
Singh saab, people are as confused as you... so check the final subscription and take a call. I am going to do the same. It's better to flow in the direction of the current. 🙂
26.2. SSingh| Link| Bookmark|
April 29, 2023 6:04:35 AM
IPO Guru (1400+ Posts, 800+ Likes)
Financial looks cooked....gmp is no.. Debtors payment not recievd on last 3 Yr
Huge loan from proposer and other unsecured loan roc default many times Not a great corporate governance company Very high payable days Around 257 days... Poor cash flow
Complete avid she sell napply
24. abc xyz| Link| Bookmark|
April 28, 2023 4:00:34 PM
IPO Guru (1100+ Posts, 1100+ Likes)
Just analysing the data of Tamilnad Metcantile Bank Positive 1. The cheapest stock among Bank. P. E is just 6.33 2.Book value is 374 3. Bank has delivered good profit growth of 35.9% CAGR over last 5 years. 4. Net NPA 0.75% 5. Financing margin : 19%
Negative 1. Current market price is below ipo price. 2. Not paying divident. 3. Contingent liabilities of Rs. 8687 cr. 4. FII s holding is in downside.
If the problem of disputed shares comes in favor of the management the bank will fly in the sky.