*MONEY TIMES TALK - 31/5/25* *As per astrology view,* some important turning dates are 2, 6, 9, 11, 13, 16th June 2025. *As per data,* DOW (RSI 51), Nasdaq (52), and Nifty (55) suggest markets are not overbought—no major correction likely in the near term as feared by the bear camp. Q4 results for most companies remain weak, reflecting demand pressure and rising competition—focus on firms with strong Q4 and promising Q1FY26 outlook. *As per market veterans,* India has evolved into a global defence powerhouse, exporting to 90 countries. Key highlights: 1.* World's 4th largest economy with a $4 trillion GDP. *2.* Robust Rs.6.85 lakh cr. defence budget driving military innovation. *3.* Rising exporter of advanced defence equipment, strengthening global position. *As Nifty nears 25,000,* large promoter block deals return—Yes Bank (Rs.13,200 cr.), ITC (Rs.12,900 cr.), Indigo (Rs.11,000 cr.), Bharti Airtel (Rs.8,600 cr.) and others sucking liquidity and slowing index momentum. *New SME IPO norms* now mandate Rs.2L+ applications in retail; HNI segment split into SHNI (Rs.3–10L) & BHNI (10L+), with a lottery system like mainboard—reducing oversubscription via bulk bids. *Post PAK Sindhoor ops,* 18 nations seek Indian defence exports—expected to double exports, push India to trade surplus by 2026 and fiscal neutrality by 2028, saving billions in interest outgo. *Once legend HNI Vijay Kedia says:* “In the long run, only quality prevails. Stories fade, but solid execution stands tall.” *Bottom line:* the SME shakeout is real—only 1% of the top 5% may become future multibaggers. The edge lies in deep research, patience and ignoring market noise. *NSE SME Systango Technologies* posted 40% higher FY25 PAT of Rs.23.73 cr. with 5-year PAT CAGR of 57.6% & ROE of 26.8%. Share trades at Rs.252 vs all-time high of Rs.408—looks attractive. *Wimplast* has consistently paid high dividends (50%-100% in FY21-24) and may benefit from crude price drop. At Rs.525 cum 100% dividend vs life high Rs.1690, the stock looks undervalued. *Fiberweb (India)* posted 106% higher FY25 PAT of Rs.15 cr. with book value of Rs.61 and PE of 9.8. HNIs hold 16.31%. Attractive at Rs.51 vs 52-week high of Rs.67. *Pennar Industries* posted 21% higher PAT at Rs.119.45 cr. in FY25 and entered a JV with Zetwerk to manufacture solar modules for domestic and global markets—stay on track. *Cravatex* with Rs.104 cr. reserves and small equity of Rs.2.58 cr., posted 476% higher Q4FY25 PAT of Rs.1.44 cr., FY25 PAT of Rs.4.83 cr. and declared 125% dividend. Attractive at Rs.439 vs life high Rs.799. *Thakkers Developers* turned around with FY25 PAT of Rs.6.48 cr. vs loss in FY24, backed by a strong land bank, nearly debt-free status, and 95.2% promoter/HNI/corp holding. Riding on Nasik’s realty boom—track closely. *Due to rising case of Kovid* demand for Paracetamol & Ibuprofen will rise will prove beneficial for *IOL Chemicals & Pharma* posted Q4 PAT of Rs.31.42 cr. v/s Q3 PAT of Rs.20.53 cr. Stock may surpass its 52-week high of Rs.107. *Systango Technologies* also adds 7 new clients with strong presence in AI, Blockchain, Web3 and automation. ROE at 26.3%, ROCE at 32.3%, looks highly undervalued at Rs.252 vs high of Rs.408. *India Pesticides* posted 1953% higher Q4 PAT of Rs.21.77 cr., FY25 PAT of Rs.82.18 cr.,declared 75% dividend and expanded PEDA capacity to 6,000 MT targeting 8,500 MT by Q2FY26. Attractive at Rs.208 vs life high Rs.432. *RailTel* secures Rs.25.12 cr. order from AP Police for integrated security, execution by June 2025. Looks attractive at Rs.398 vs 52-week high of Rs.618. *Astal Laboratories* posted 1045% higher FY25 PAT of Rs.8.93 cr. with 213% profit CAGR over 5 years and HNIs hold at 55.93%.Trades at 9x PE, stock attractive at Rs.83 vs 52W high of Rs.132. *Thakkers Developers* backed by strong Q4FY25, robust land bank, debt-free status, and high promoter/HNI holding is well-placed to ride Nashik’s CREDAI-tagged growth. Stock may see re-rating. *Fiberweb (India)* director highlights strong demand, improved capacity utilization and growth outlook. Stock may breach its 52-week high on robust FY25 results. *Krishanveer Forge* posted FY25 PAT of Rs.5.64 cr., declared 25% dividend; with 72.47% promoter holding, stock looks attractive at Rs.90 vs 52-week high of Rs.164. *IPCA Lab* posted FY25 PAT of Rs.737.68 cr. vs Rs.547.35 cr. in FY24 and declared 200% dividend. Keep on track. *Resonance Specialities,* an IPCA Group company, posted 121% higher PAT of Rs.6.57 cr.,declared 10% dividend, and remains debt-free. Undervalued and poised for re-rating. *Veto Switchgears & Cables* posted PAT of Rs.21.82 cr., declared 10% dividend, holds Rs.247.34 cr. reserves vs Rs.19.12 cr. equity. Stock looks attractive at Rs.133 vs 52-week high of Rs.196. *Wimplast* posted FY25 PAT of Rs.64.53 cr. with an EPS of Rs.53.76, declared 100% dividend. PE just 10. HSBC Smallcap holds 3.81%, 25 HNIs hold 20.28%. Looks attractive at Rs.525 vs alltime high of Rs.1690. *Artefact Projects* posted 1254% higher PAT of Rs.2.98 cr. in Q4FY25. HNI Sundeep Arjun Karna bought 48,700 shares at Rs.78.15.Dividend-paying stock with strong re-rating potential. *Cravatex* gains from BB UK, its 100% UK subsidiary, which designs for FILA globally and holds licenses via JD Sports for UK, MENA. Track for potential gains. *Aayush Wellness* posts strong FY25 as revenue rose 8,645% YoY to Rs. 7,338.59 lakh & PAT up 489% YoY. Expanding with health centres & smart diagnostic ATMs, it eyes growth in Rs.44,000 cr. herbal masala & Rs.2.5 bn nutrition markets. *Alpa Laboratories* posted FY25 EPS of Rs.9.27 vs Rs.7.98 in FY24. Share trades at a PE of 10.7x vs industry average of 32.66x, stock offers strong long-term upside potential. *Supreme Power Equipment* posted 52% profit growth in H2 FY25—momentum strong. UniHealth Hospitals posts strong FY25 results with 63% YoY NP growth in H2FY25. *Khazanchi Jewellers* posted a stellar H2FY25 with total revenue up 145% and NP rising 115%. *Bright Outdoor Media* founder Dr. Yogesh Lakhani represented India at Cannes 2025. Adds global visibility to the brand. *Eco Recycling* posted strong 103% YoY surge in Q4FY25 EBITDA. *Shri Keshav Cements & Infra* posted total income of Rs.124.60 cr. in FY25. *Ashapuri Gold Ornament* delivered 90% revenue growth in FY25. *Supreme Power Equipment* bags Rs.61 cr. order from NLC India Ltd. *Supreme Facility Management* saw net profit soar 95% in FY25. *ABS Marine Services* posted a massive 178% jump in H2FY25 net profit. *Rajputana Industries* clocked 69% higher revenue of Rs.553 cr. in FY25. *Paramatrix Technologies* posted 47% YoY profit growth in H2FY25. *Shera Energy* surpassed Rs.1,200 cr. in consolidated income for FY25. *Nisus Finance* posted 56% higher FY25 total income. *Power & Instrumentation (Gujarat)* posted 73% revenue and 100% NP growth in FY25. *SEPC* posts 37% EBITDA growth in FY2. *Network People Services* posted 68% higher PAT of Rs.45.20 cr. in FY25. *Tejas Cargo India* delivers 50% YoY consolidated EBITDA growth in FY25. *Focus Lighting & Fixtures* posted Rs.186 cr. in consolidated income for FY25. *Dev IT* reported 56% rise in FY25 net profit—digital solutions demand playing out well. *Bright Outdoor Media* posted total income of Rs.128 cr. and NP of Rs.19 cr. in FY25. *Praveg* posted 75% higher q-o-q consolidated EBITDA in Q4FY25. *SEPC* secures Rs.75.60 cr. international EPC order from Lauren Engineers & Constructors, UAE for four steel storage tanks—strong global traction. *Davangere Sugar* posted strong FY25 earnings with EBITDA at Rs.53.75 cr. The company is now eyeing growth beyond sugar into sustainable power and ethanol—worth tracking. *CGVAK Software,* offering AI/ML solutions, posted strong numbers. Available near its 52w low of Rs.230 vs high of Rs.450, it trades at a P/E of 10x and may deliver 50% upside in the near term. *Vascon Engineers,* with 75% of its order book from government infra, looks promising amid strong realty growth. The stock trades at half its 52w high, offering value. *Jay Bharat Maruti (CMP Rs.79),* a JV between Maruti Suzuki and JBM, reported solid results and is likely to benefit from Maruti’s strong outlook. *Kalyani Steels*, running at full capacity and planning expansion, trades at 10x P/E and 50% below its 52w high, making it a safe bet for the long term. *Blackrose Industries* has tied up with Japan’s Koei Chemical for amine products—an impressive feat for this small-cap firm. *Mamata Machinery,* backed by strong packaging demand and two US plants, trades at 15x fwd P/E and 50% below its 52w high—worth keeping on radar. *Modison Metals,* supplying to electric and transformer makers, is riding strong demand. At Rs.165, it looks set to outperform. *Orchid Pharma,* down from Rs.2000 to Rs.600, now appears attractive for long-term investors as a value pick. *Ruchira Paper,* outperforming peers amid industry slowdown, trades at sub-5x P/E withbdividends—seen as a potential doubler. *Banco Products,* once Maruti-focused, now has global reach across Europe and the Americas. At Rs.570, the multibagger still looks undervalued. *One Mobikwik Systems* offers a wide range of digital banking services across consumers and merchants, with rising revenue and strong fintech offerings like ZIP, Lens, and Xtra. Stock poised for upside amid India’s digital boom. *Rudra Global Infra Products,* a microcap TMT bar maker, plans Rs.190 cr. capex for a 30MW solar project, aiming to scale turnover to Rs.1000 cr. with enhanced billet and TMT capacity; also received LOI for a 3.3MW wind project from OEPL. *Aartech Solonics,* a turnaround microcap in defence & power, posted strong results,boasts its highest-ever order book, and developed AAPM tech with IIT Mumbai & Sudarshan Chakra Corps. Promoter stake rose, signalling confidence in future upside. *Amwill Health Care,* a debt-free derma-cosmetic player with 112 products and asset-light model, raised Rs.49 cr. for growth.Operating in 3 states with expansion plans, trades at a PE of just 13.1 and looks poised for strong performance. *Quality Power Electrical Equipments,* engaged in high-voltage energy transition gear, posted stellar Q4FY25 with 184.5% sales and 74.1% PAT growth, secured Rs.19.7 cr. order and holds Rs.750 cr. order book; strong value unlocking likely. *Univastu India,* a microcap infra player, bagged Rs.285 cr. worth of govt. orders vs. Mcap of Rs.268 cr., raised Rs.32.4 cr. via preferential issue near CMP;fundamentals and order momentum suggest strong growth ahead. *PNC Infratech* won Rs.485.3 cr. arbitration award linked to its Agra Bypass EPC project; this adds to its strong execution track record and enhances cash flows. *Meghmani Organics* posted Q4 NP of Rs.20 cr. vs. a net loss of Rs.17.8 cr. on equity capital of Rs.25.4 cr.,reflecting strong recovery in the chemicals and pesticides space. *Indian Hume Pipes* unlocked Rs.545 cr. via land sale to Godrej Properties and entered revenue-share deals for its surplus land in Pune and Delhi. *Hindalco* posted 68% rise in Q4 EPS of Rs.23.8 and 58% FY25 EPS growth of Rs.72 with Rs.27,000 cr. capex lined up, the stock trades at a PE multiple of 9.2x. *Kalyani Steel* posted FY25 EPS of Rs.58.7; with Rs.430 cr capex underway and plans for titanium and aerospace facilities in Odisha, the long-term outlook remains solid at 13.6x PE. *Cosmo First* posted 115% FY25 EPS growth of Rs.51 and plans Rs.850 cr. capex; recent stake buy by Ravikant Jaipuria supports strong medium-term potential. *Goodluck India* posted FY25 EPS of Rs.50.7 on Rs.3900 cr. sales; its defence and aerospace unit to go live in Q1FY26 which may lead to FY26 EPS of Rs.65. *Karur Vysya Bank* posted FY25 EPS of Rs.24.1 and expects Rs.28 in FY26; strong fundamentals with net NPA dipping to 0.20% and govt securities holding of Rs.23,831 cr.Epigral posted FY25 EPS of Rs.85; doubling CPVC and Epichlorohydrin capacity signals strong long-term potential. *SNL Bearings* posted 33% higher Q4 EPS of Rs.7.8 and 41% higher FY25 EPS of Rs.30. The share trades at a P/E of 13.9x vs the industry average P/E of 44x for the bearing industry. *Nitta Gelatine* posted FY25 EPS of Rs.92.5; with Rs.45 cr. capex to expand collagen peptide capacity starting July 2025, it trades at 8.3x P/E vs 44x industry average—high earnings visibility. *Just Dial* posted 35% higher Q4 EPS of Rs.18.5 and 61% higher FY25 EPS of Rs.68.7 in FY25.The share trades at a forward P/E of 13.4x vs the industry average P/E of 26x. *Mawana Sugars* posted 32% higher Q4 EPS of Rs.15.8 and 192% higher EPS of Rs.28. The share trades at a P/E of 3.5 vs the industry average P/E of 21.9x for the sugar industry. *NMDC* posted FY25 EPS of Rs.7.4. and targets 100 MT output over 5 years, making longterm prospects attractive. *GNFC,* a debt-free cash-rich co., posted FY25 EPS of Rs.40.6, which may lead to FY26 EPS of Rs.55. Share trades at a PE of 12x, remains a strong hold. *Ruchira Papers* posted 92% higher Q4 EPS of Rs.6.2 and 37% higher FY25 EPS of Rs.22.6. It has declared a dividend of 50%. The long-term outlook is strong. *Manoj Vaibhav* posted Q4 EPS of Rs.5.5 and FY25 EPS of Rs.20.6, which may lead to FY26 EPS of Rs.28+ post spending of Rs.192 cr. *Federal-Mogul Goetze* (India) posted FY25 EPS of Rs.29.1, up 28% with Rs.622 cr cash. Share trades at a PE of 14.5x vs 34x industry average—solid value play. *Veto Switchgears* posted Q4 EPS of Rs.3.8 and FY25 EPS of Rs.11.4. The share trades at a P/E of 9.6x. *Arkade Developers* targets 4 new projects in FY26 with Rs.3,500–4,000 cr. gross development value (GDV); aims to maintain 20% CAGR after similar growth in FY25. *Money Times Talk is a part of oldest, reputed & very popular financial weekly 'Money Times'.* *Do your due diligence before taking any investment/ trading decision.*