Desi Wall Street

Desi Wall Street

2/22/2025, 2:28:21 PM

*AFCOM HOLDINGS LTD* _Imp updates from concall_ *Currently operating 2 Aircrafts* ▪️1 Dry Lease Aircraft & 1 Quasi Charter ▪️Quasi Charter operations will end in March ▪️Quasi charter doing 3 schedules a week at 15 tons (Boeing 737-400) ▪️Dry Lease Aircraft doing 6 schedules a week with 22.5 tons capacity (Boeing 737-800) *New dry lease aircrafts (Boeing 737-800)* ▪️2nd Aircraft ready (Should commence operations anyday) ▪️3rd Aircraft in March ▪️4th Aircraft in April ▪️5th Aircraft to be inducted in Q2 *From Q1FY26, co will be operating 4 dry lease aircraft vs 1 dry lease aircraft currently (Q4FY25)* *Current capacity & potential scale up* ▪️Plans to fly 17-18 hrs/day vs 9 hrs/day currently ▪️Plans to schedule 7 flights per week vs 6 flights per week currently *Considering new aircrafts & scale up in operations, capacity in FY26 will be more than 5x FY25 capacity* *Demand is massive, while supply is limited* Even with all 5 aircrafts operating at 97% utilization, co will be catering to only 5% demand *Co plans to induct 4 Boeing 777 (Widebody aircrafts) next year* ▪️Will enable longer routes on international destinations ▪️Boeing 777 has load carrying capacity of ~105 tons (~5x Boeing 737-800 capacity) ▪️Capacity of 4 Boeing 777 Aircrafts will be equal to capacity of 20 Boeing 737-800 Aircrafts *Fleet Size by 2026* ▪️Total 9 Aircrafts (5 Boeing 737 & 4 Boeing 777) ▪️Load carrying capacity (with Boeing 737s) will be ~112 tons vs 22.5 tons currently ▪️Thereafter, each Boeing 777 will add ~105 tons capacity *_Revenues & Profits would not just grow, it will MULTIPLY_* https://x.com/desiwallstreet/status/1893303227095097832?t=utZS_13F8E3w-dNabsYvgg&s=19

Desi Wall Street

2/20/2025, 4:54:31 AM

*RKEC PROJECTS* TTM PAT 23 Cr already Reported 8.3 Cr PAT for Q3 Should do 10 Cr PAT for Q4 FY26E PAT 30-32 Cr Big orders being executed Tiny mkt cap of just 160 Cr *Trading at just 5x P/E (FY26EEPS)* https://x.com/desiwallstreet/status/1892436876210164009?t=SY4wdboTituTyK7zxWjyXQ&s=19

Desi Wall Street

2/21/2025, 4:08:51 AM

*RKEC PROJECTS* Another order win worth 32 Cr Total order book at 1400+ Cr vs Tiny Mkt Cap od 170 Cr Co has 47 Cr Cash on books (~28% mkt cap) Enough working capital to execute big projects *Trades at 5.2x P/E (FY26EEPS) and 0.9x P/B* _Most UNDERVALUED Marine & Maritime infra co_ https://x.com/desiwallstreet/status/1892788135710609893?t=Pm8fZMMn4VKjjMnLq6aTVQ&s=19

Desi Wall Street

2/18/2025, 9:32:16 AM

Retail investors portfolios are down anywhere between 30-40% It all began with some mindless regulations like ESM Then came LTCG & STCG hike FII selling continues everyday. SIP inflows are giving an easy exit to FIIs To make things worse RUPEE depreciated at a faster pace Rising bond yields in US have made choice easier for FIIs Economy slowing down and expensive valuations did not help either Trump tariffs were the final nail in the coffin https://x.com/desiwallstreet/status/1891781535914918226?t=Lp6KKZtEUNbKwswY6AMpKA&s=19

Desi Wall Street

2/17/2025, 6:11:50 AM

*NIFTY vs DOW JONES* Nifty near 52W lows Dow Jones near ATH Indian markets have truly decoupled👏 https://x.com/desiwallstreet/status/1891368594245890412?t=vEK4CRCb7lhSd8Qpgyo3Ew&s=19

Desi Wall Street

2/12/2025, 5:04:07 PM

*AFCOM HOLDINGS LTD - Blockbuster Outlook* _India's only listed pureplay Air-Freight player_ Co has been operating single Boeing 737-800 Aircaft so far *_Now 2nd Dry Lease Aircraft will begin operations from 16th February_* *_Opens new route Chennai-Colombo-Male-Chennai for a Japanese Giant (2 flights/week)_* 👉Already operating on Chennai-Bangkok-Chennai and Chennai-Singapore-Chennai route *_Begins Freight delivery for one of worlds largest tech companies_* 👉This opens first domestic freighter route Chennai-Mumbai-Delhi-Chennai *_Co has signed a long-term contract with ETIHAD AIRWAYS (globally acclaimed) and operating on Chennai-Male route_* *We estimate ~70% QoQ growth* 👉H1FY25 Revenue 89 Cr & 19 Cr PAT so far 👉H2FY25E Revenue 150 Cr & 28-29 Cr PAT 👉FY25E Revenue 240 Cr & 47-48 Cr PAT *Co has target to induct 5 Aircrafts into service* 👉We estimate 3rd Aircraft to be inducted in March'25 👉Another 2 aircrafts to be inducted in April'25 *FY26 Estimates (Conservative)* ▪️Revenue 1050-1100 Cr & PAT 210-215 Cr ▪️ _*Trades at just 8.6x FY26EEPS*_ *_The quality of clients (Global giants) acquired in it short history speaks volumes of the execution capabilities of AFCOM_* _*Revenues & Profits are expected to multiply (Not just grow)*_ _*An absolute no brainer in the booming Air-Freight industry*_ _*PS: South Asia’s cargo freighter fleet to grow 5 fold by 2043 (Imagine the potential this industry holds)*_ https://x.com/desiwallstreet/status/1889721596690178175?t=-fu6GwbtBh-70e3hlcRpjw&s=19

Desi Wall Street

2/12/2025, 3:58:57 PM

Patel Engineering - Another TOP Quarter ▪️Revenue 1206 Cr vs 1174 Cr QoQ vs 1061 Cr YoY ▪️EBITDA 184 Cr vs 162 Cr QoQ vs 142 Cr YoY ▪️PAT 82 Cr vs 73 Cr QoQ vs 69 Cr YoY *Order Book at 16396 Cr* *Total Debt 1422 Cr vs 1965 Cr YoY* *Interest cost reduced to 89 Cr vs 80 Cr YoY* https://x.com/desiwallstreet/status/1889705596502569239?t=xENF-wOYGk133apfzVysCg&s=19

Desi Wall Street

2/12/2025, 7:35:34 AM

*Manoj Vaibhav Gems N Jewellers (MVGJL)* _Key Highlights from Q3 Concall_ Q3 was lower due to seasonality (Weakest quarter) Management has guided for double digit growth for Q4 Q4 to be the best quarter on account of higher wedding/muhurutam days Total 18 stores (All company owned) 3 more stores opening next month Targets to cover every district in Andhra Pradesh and Telangana in next 3 years Co is evaluating franchisee model as well Plans to expand to Bangalore and Hyderabad now Margins will be maintained at 7-8% levels Ecom Sales contributing 2-3% Revenues Margins similar to offline sales https://x.com/desiwallstreet/status/1889578855134011469?t=5xHSCJgNkYRA-ixYpCifbw&s=19

Desi Wall Street

2/10/2025, 1:01:59 PM

*Famous PSU stocks down from 52W Highs* ⤵️ https://x.com/desiwallstreet/status/1888936041098477906?t=H84bPc-1NkfHZ3bSThK7VA&s=19

Desi Wall Street

2/6/2025, 1:38:16 PM

*Manoj Vaibhav Gems N Jewellers (MVGJL)* _Q3 Performance_ ▪️Revenue 498 Cr vs 475 Cr YoY (Q2 at 642 Cr) ▪️EBITDA 38 Cr vs 34 Cr YoY (Q2 at 45 Cr) ▪️EBITDA margin 7.6% vs 7.1% YoY vs 7% in Q2 ▪️PAT 25 Cr vs 19 Cr YoY (Q2 at 27 Cr) Good YoY performance, slightly below expectations QoQ Margins strong and improving further💪 Opening new Jewellery Store in Andhra Pradesh 9MFY25 PAT at 74 Cr *On track to do 100 Cr PAT for FY25* *FY26E PAT 130 Cr* *Trading at just 13.5x FY25EEPS & 10.5x FY26EEPS* https://x.com/desiwallstreet/status/1887489946052927808?t=ROvAob5wFb1xHY1cQhLZSQ&s=19