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Ship Building Super Article by former secretary - Shiiping. Lot of insights to way forward. Also very funny story about Korea's India visit in the past & their decision - "how NOT to establish a shipyard like India" 😆😆

Interesting names to study.

BLS International has been debarred by Ministry of External Affairs for participating in future tenders of MEA and Indian Mission abroad. The debarred is for 2 years. Debarred has been issued on account of allegations including court cases and complaints of applications.

Centre plans to privatise power distribution — a major shift in India’s electricity sector. Draft Electricity (Amendment) Bill 2025 aims to open up the market & make regulators accountable. -Private players can distribute power alongside state DISCOMs -SERCs to promote power

A very interesting contrast when looking at two of my previous picks from a couple of years ago. GMDC - 630 Rs. from 262 (2.4X) SSWL - 219 Rs. from 251 (Down 12.7%) Added both of them in between and still holding. I will be looking to add more in both the stocks.

A company from India acquiring a company from Europe to generate sales from companies from America. However, Rome won't be built in a day and will go through its own share of pain and euphoria. In hindsight, everything is easy but when it is happening and price are giving

This 'family office culture' is a beautiful thing. This is what will move money stuck in reserves of public and private family assets/businesses into startups that desperately need funding. This is what will unleash the business minded - both the good and bad ones, of course.

Techno Electric has downgraded expectations in key businesses in the recent call Smart meter business growth to be conservative from aggressive Reduced edge data centre target from 10 locations to 5

I am hoping that the answer to both of these questions is 'Yes' I don't have major targets for them revenues as such but I am watching their execution and EBITDA. Holding and waiting. (13/13)

If the answer to either 1 or 2 is 'Yes' then there is some steady growth left in this business that we can take advantage of - in the next 2 - 3 years. If the answer to both of the above questions is 'Yes' then we potentially have a mini L&T over 7 - 10 year time frame. (12/13)

...in Glass-Lined and now Non Glass-Lined Equipment that they make for Pharma + Chemicals + Agrochem industry? 2 - Will they be actually able to bring back their Net profit margin - which is now at less than 1.5% - back to 6% or more? (11/13)

I like this turn despite all the negatives. There are two big questions though. 1 - Will they actually get big orders and generate good revenue from at least 3 or 4 of these newer industries without losing the strong position they already have... (10/13)

They are being careful now and they haven't officially given a number for 2027 - at least not as clearly as they did last time. This is actually a management learning that they weren't able to predict their core market. So they're being better. (9/13)

Yet they only managed 3200 Crs. after adding all these other industries. Granted that these newer acquisitions will take time to really get going and that the newer industry orders are small but they over estimated what they could do. (8/13)

They seem to have actually managed to be cutting edge with some of their projects. Going back to that earlier guidance thing. They thought 3700 Crs. in 2025, mainly from Pharma, Chemical and Agrochem industries. (7/13)

To me personally they seem to be focusing on everything that is 'hot' now. Although they actually have delivered some interesting projects in the water treatment, Oil & Gas and bioplastics industries. (6/13)

New sectors that they are trying to break into are - Defense, - EVs - Semiconductors, - Water treatment - Oil & Gas and Petrochemicals - Mining - Bioplastics - Flue Gas Desulfurization (mixing equipment) They made acquisitions that added to their capabilities. (5/13)

As a result of the above, they have not set a major target for 2027 but they have shared a vision. They are planning to be a diversified business that is not just focused on Glass-Lined Equipment serving Pharma, Chemicals and Agrochem as they used to do. (4/13)

In FY23, management set a FY25 vision: ₹3,700 Cr revenue, ₹630 Cr EBITDA, 25% ROCE . They fell short (FY25 actual: ₹3,199 Cr revenue, ₹381 Cr EBITDA). This is based on their 2023 Annual Report and current year results. (3/13)

I also presume that they are mostly very straightforward with investors. They have ambition but I wouldn't call them top tier/clean cut. That remains to be seen in my opinion. Current point of concern is that they had a tough year this FY 25. For example, (2/13)