@kapilmohangupta @VishalBhargava5 you must be a registered condominium.
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xquizit
15.9K posts
@VishalBhargava5 Yes. We have this rule in our society.
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This will become a trend in prime projects of India. Hung clothes on a balcony hurt the visual appeal of a building. It’s already a factor in determining if a building is of the “classes or masses.”
Initially there will be resistance. Then most will fall-in-line
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@san_x_m I think you mean Smart phone is a distraction, i am sure he might have ordinary mobile phone without smart features
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His name is R Thyagarajan.
He built a Rs 1.5 lakh crore financial empire from scratch.
He started by lending money to truck drivers nobody else would touch.
In 2006 he transferred his entire personal stake worth Rs 6210 crore to his employees.
Every rupee. Gone.
Today he lives in a small house.
Drives a car worth Rs 6 lakh.
Does not own a mobile phone.
He said phones are a distraction.
In a world where billionaires buy yachts and islands Thyagarajan gave it all away and went back to work.
This man built the Shriram Group.
One of India’s largest financial conglomerates.
Remember his name.
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The PG Electroplast Paradox: 21% Revenue Growth with 10% Profit Decline | What the Numbers Tell Us
PGEL just reported 9M FY26 results that raise an important question: Is scale-up success masking operational stress?
The Headline Looks Bullish:
a) Revenues ₹3,571 Cr (9M FY26) vs ₹2,960 Cr (9M FY25): +20.7% YoY
b) Room AC business hit ₹2,078 Cr (9M FY26) vs ₹1,638 Cr (9M FY25): +27% YoY
c) Washing Machines showed exceptional traction: +46% YoY
d) Product business = 73% of total 9M FY26 mix
But Dig Deeper—The Cracks Show:
Gross Contribution Margin Collapsed 3.3%:
a) 9M FY25: 21.5% of sales
b) 9M FY26: 18.2% of sales
PAT Fell 10.5% While Revenue Grew 20.7%:
a) PAT 9M FY25: ₹144.4 Cr
b) PAT 9M FY26: ₹129.4 Cr
Raw Material Cost Inflation
Cost of Raw Materials as % of sales: 79.9% (9M FY25) → 81.4% (9M FY26). That 1.5 percentage-point creep consumed all operating leverage from scale
Finance Costs Surged 35.6% YoY:
9M FY25: ₹55.8 Cr
9M FY26: ₹75.6 Cr
Why? Working capital expansion + debt to fund capex pushed leverage up.
Cash Position Evaporated:
Dec 2024: ₹1,170.7 Cr in cash
Dec 2025: ₹482.9 Cr in cash
59% decline in 2 quarters. Capex deployment + WC expansion are cash-hungry.
The Working Capital Trap (This is Critical):
The company's cash conversion cycle (CCC) deteriorated:
Dec 2024 → Dec 2025:
Receivables Days: 47.1 → 63.6 days (+16.5 days)
Inventory Days: 82.1 → 94.8 days (+12.7 days)
Payables Days: 75.0 → 89.5 days (+14.5 days)
Net CCC Impact: +14.6 days (54.3 to 68.9 days)
Translation: PGEL locked up ₹250+ Crores of incremental working capital in just 2 months. Extended customer payment terms were necessary to secure large orders (OEM outsourcing trend), but the cash drain is real.
⚠️ FY26 Guidance Red Flag:
Management projects: Sales FY26: ₹5,700-5,800 Cr (vs ₹4,870 Cr FY25) = 17-19% growth
Net Profit FY26: ₹300-310 Cr (vs ₹291 Cr FY25) = 3-7% growth
This creates a mathematical problem:
If you deliver 17-19% revenue growth but only 3-7% profit growth, margins are compressing further—directly opposite of management's stated thesis of "improving profitability and higher operating leverage."
Implied FY26 PAT margin: 5.2-5.4% (vs FY25's 6.0%). Another 60-80 bps of margin loss YoY.
Capital Efficiency Deteriorating:
ROCE Analysis (Dec 2024 → Dec 2025):
a) ROCE: 23.5% → 18.6% (-4.9%)
b) ROAE: 11.9% → 9.8% (-2.1%)
c) Capital Employed: ₹1,884 Cr → ₹3,054 Cr (+62% increase)
What This Means:
PGEL's profit growth has stalled despite strong revenue momentum—a sign that new facility ramp-up and working capital expansion are creating near-term profitability pressure.
Structural drivers are intact:
a) Structural demand (urbanization, low penetration, rising incomes)
b) Government support (Make in India, PLI schemes)
c) Blue-chip client base (Voltas, Blue Star, Daikin, LG, Godrej, Havells, Bajaj)
❌ But near-term headwinds are material:
a) Input cost inflation (Cost of Raw Materials at 81.4% of sales vs historical 80%)
b) Working capital stress (CCC +15 days = ₹250+ Cr cash tie-up)
c) Finance costs rising (up 35.6% YoY) as leverage increases
d) ROCE compression (23.5% → 18.6%) indicates new capex not yet earning adequate returns
This is based on latest investor presentation, not a buy or sell recommendation
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CG power: Use Dips to add
Financial Performance: Consolidated vs. Standalone Divergence
The company reported a distinct divergence between its core operational performance and its consolidated figures, primarily due to strategic investments in future technologies.
Standalone Strength: The core business delivered its highest-ever quarterly performance. Standalone revenue grew 22% YoY to ₹2,909 Cr, while Profit Before Tax (PBT) surged 35% YoY to ₹454 Cr. This growth was driven by exceptional execution in the Power Systems segment.
Consolidated Picture: On a consolidated basis, revenue stood at ₹3,175 Cr, a growth of 26% YoY. However, consolidated PBT was ₹420 Cr (up 25% YoY), which is lower than the standalone PBT.
The "Startup" Impact: The lower consolidated profitability is attributed to the Semiconductor segment (including subsidiaries like Renesas JV and Axiro). This segment negatively impacted PBT by ₹41 Cr, dragging consolidated margins down by approximately 130 basis points. Management views this loss as a necessary "startup investment" in talent and infrastructure rather than an operational inefficiency.
*Segment-Wise* *Update*
A. Power Systems (The Growth Engine)
Performance: This segment is the star performer, with sales jumping 44% YoY to ₹1,326 Cr.
Margins: Profitability improved significantly, with PBIT margins expanding by 378 basis points YoY to 21.4%. This expansion is driven by robust demand, better price realization, and operating leverage.
Order Book: The unexecuted order backlog for this segment has nearly doubled, growing 89% YoY to ₹11,289 Cr, providing revenue visibility well beyond FY27.
B. Industrial Systems (Motors & Railways)
Performance: This segment saw moderate growth, with sales up 8% YoY to ₹1,585 Cr.
Margins: PBIT margins contracted to 9.4% (down from 12.5% YoY).
Headwinds: The margin compression was caused by rising commodity costs (which could not be fully passed on immediately) and an adverse product mix in the Railways business. However, the company has taken cumulative price hikes of ~17% over the last nine months to neutralize inflation, which should aid margin recovery in upcoming quarters.
3. Impact of US Tariffs & Global Dynamics
The impact of US tariffs is sector-specific for CG Power:
Railways (Negative Impact): Management explicitly stated that exports to the US for the Railways business are "going a bit slow" due to the current "duty structure." This has dampened volume growth in that specific geography for railway products.
Power Systems (Resilient): In contrast, the Power Systems segment appears immune to these tariff headwinds due to the critical shortage of electrical infrastructure in the US. The company successfully secured a ₹900 Cr ($99 Million) direct export order for transformers from a US data center client, proving that demand overrides tariff concerns in this sector.
Europe: Management clarified that there are currently no tariffs on their products exported to the EU, and they do not foresee significant benefits or drawbacks from ongoing FTA negotiations.
4. Outlook on Semiconductor Business
Management describes this business as being in a "startup" phase requiring upfront cash burn before generating returns.
Mini Plant (M1): This pilot facility is already operational with high yields (98-99%). Commercial sales are expected to commence within the next 2-3 quarters (Q1/Q2 FY27).
Main Plant (M2): Construction is on track for completion by December 2026. Production from this large-scale facility is targeted to begin in Q4 FY27.
Customer Traction: Approximately one-third of the capacity is already secured by JV partner Renesas. Active discussions are ongoing with automotive and industrial customers for the remaining capacity.
5. New Product Opportunities
Data Center Transformers: The recent US win was for 330kV power transformers, customized for hyperscale data centers. This high-entry-barrier product
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@Geetu_Moza To be announced tomorrow but signed after 6 months and effective 2027.
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Women queue up from 4.00 AM outside a Karnataka Soviet (sorry Silk) Industries Corporation showroom to buy silk sarees starting from ₹23,000 and going up to ₹250,000. Only 1 saree per customer and you need a token to be in the queue.
There is an ongoing shortage (or more precisely, a supply shortfall) of authentic Mysore silk sarees, particularly those produced by the Karnataka Silk Industries Corporation, which holds the official production and GI-tagged rights for pure Mysore silk sarees.
This has been a consistent issue throughout 2025, with no clear indication of resolution into 2026.
First up, the Corporation has a limited number of skilled in-house weavers and artisans. Their training takes 6-7 months for even basic proficiency.
Production is restricted to the Corporation's trained workforce and facilities, preventing rapid scaling.
Seasonal peaks (weddings, Varalakshmi Puja, Gowri Ganesha, Deepavali) worsen the crunch, with showrooms often selling out quickly.
This is how life was in the Soviet Union, which was plagued by shortages of almost everything except bread. But in fairness to the Corporation, at least authenticity is ensured. In contrast, private sector companies are known to cheat customers through spurious or Chinese made artificial silk. Illustrated by what happened at Tirupati where a private contractor was supplying fake silk to devotees.
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xquizit retweetledi
Shadow banned due to mass reporting .
Kindly like and RT maximum.🙏
Wishing you all, a Happy Sankranti, Prosperous Pongal, Happy Bhogali Bihu and a joyous Uttarayan.
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He doesn't understand the ABC of Stock Market
1. His outrageous statements.
Daily SIP in SBIN, then at 900, for a Target of 2000
2. Now we won't talk of 28K in Nifty but 30 to 32 K.
Joker among the pack of Analysts @_anujsinghal
Ketofol☀️@aka911_
Bhai yeh ek dum Chomu type aadmi hai Singhal 😆
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@_ChartWizard_ HBL also could not complete the order.Go and see the disclosure on BSE site.They have given the cancelled order amount and the likely orders to be placed for 2026.
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#KernexMicrosystems received an order in 2024 from Chittaranjan Locomotive Works (CLW) for supplying and installing KAVACH safety equipment in 2,500 locomotives.
What went wrong?
📌 The company could not complete the order within the timeline due to delays in the certification process.
📌 The company requested an extension, but on 9 Jan 2026, CLW informed that the extension request was not accepted.
Meanwhile, #HBLEngineering continues to deliver with strong execution:
📌 Solid execution this fiscal year with 3,000 Cr guidance, which the company has beaten
📌 Latest quarter EBITDA margins crossed 44% (consolidated), well beyond expectations
📌 These numbers reflect strong execution capability
In KAVACH, it’s not just about winning orders but execution and timely delivery decide the real winners. Companies with proven execution like HBL stand on stronger footing, while others still need to prove consistency.
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Eimco Elecon India
Q-3FY26;
YoY performance;
👉Top line growth : 40% ⬆️
👉EBITDA growth : 60% ⬆️
👉PAT growth : 100% ⬆️
QoQ performance;
👉Top line growth : 100% ⬆️
👉EBITDA growth : 120% ⬆️
👉PAT growth : 130% ⬆️
QoQ performance clearly shows two things
1. Its company time
2. Mining sector boom boom 💥
Watch out this company
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#TARIL Good Results? Market doesn’t need good result bro 🤣
Bad Results par bhi itna impact nehi hota 🥲
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🚨🚨Breaking News 🚨🚨
After seeing FII Outflow Government is planning to End LTCG & STCG in this Budget.
Very Very Positive News For Market 📈📈📈📈🔥🔥🔥🔥
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@BesuraTaansane
x.com/i/status/20087…
Interesting data.
Media Expose@MediaExpose_
Now what would Rahul Gandhi even say when US DoJ filings show it was Pakistan that reached out 60+ times, asking the US to somehow stop Operation Sindoor.  While India was executing Operation Sindoor, Pakistan was running a parallel operation in DC: panic outreach. These US lobbying filings read like a distress log, 40+ touchpoints in days: meeting requests with the Ambassador, calls with congressional leadership, Armed Services staffers, “tensions in the region” briefings, even media coordination.  So let’s end the propaganda. One side was doing the targeting. The other side was doing the pleading. And when the noise didn’t work in Washington, the reality landed where it always does: Pakistan ultimately went back to the line and begged India’s DGMO for a ceasefire.  Operation Sindoor didn’t expose India. It exposed who was desperate enough to outsource survival to lobbying.
Indonesia
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Deadbeat journo- who keeps fouling mouthing his immensely successful wife, reduced to trolling claiming it’s “journalism”, but when called out claims he’s being “inorganically trolled”. His only venture was a spectacular failure & now doles out “business advice” on twitter.
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This smallcap transformer company (PE ~25x) I have been adding agressively. Revenue can possibly go 2.5x to ~₹1,500+ cr in <3 yrs as it is expanding it's capacity massively.
That's Asset turns + utilisation + operating leverage !
Check this capacity × execution story 🧵 👇....
⚡ FY23 revenue: ₹280 cr
⚡ FY24 revenue: ₹397 cr
⚡ FY25 revenue: ₹623 cr
That is more than 2.2x revenue growth in 2 years.
⚡ Operating profit moved from ₹53 cr (FY23) → ₹113 cr (FY24) → ₹185 cr (FY25)
⚡ OPM expanded from 19% → 29% → 30%
This margin expansion is here to stay & its operating leverage is kicking in well.
⚡ Interest cost is close to zero
⚡ Depreciation is low relative to operating profit
⚡ Balance sheet is very clean and the incremental revenue largely flows to the bottom line.
⚡ Installed capacity in FY25: ~7,500 MVA
⚡ Capacity utilisation: ~77%
Meaning the plant usage can boost further.
⚡ At full utilisation of existing capacity, revenue potential itself moves to ~₹770–780 cr
⚡ No aggressive new capex & Management approach to capex has been conservative
⚡ No overbuilding & No balance-sheet stretch
⚡ Focus on sweating assets first & Next expansion phase takes total capacity close to ~14,000 MVA
⚡ Land already available & Execution is phased strategically.
⚡ Management commentary points to ₹1,400–1,500 cr revenue over the next couple of years
⚡ This is largely from capex already in place.
That is 2x+ revenue visibility in ~2–2.5 years.
⚡ FY26 growth may look optically “normal”
⚡ PAT growth can still outpace revenue due to operating leverage
⚡ FY27 may look uneven if capacity ramps late
⚡ Real earnings acceleration comes post that.
This is a capacity cycle story one needs to be watchful of & in a sector that has immense tailwinds.
We all know that Earnings react to what was built already!
I have not named the company intentionally, so if you track transformer capacity cycles, you already know this #multibagger stock of 2020-2024 where is went up over 60 times ! It still has the potential to grown 30%+ on CAGR basis if execution pans out as expected.
(Not a recommendation. Just sharing how I am thinking about it)
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Tell me the number that is greater then this
99.9% will fail
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