TIA 20-20 IDEAS SUMMIT

Session 1 - G Maran Govindasamy, Unifi - Eicher Motors

1. 17% our economy is exports, 83% is domestic

2. Upper mid population will be 44% by 2030 (from 21% in 2018)

3. Eicher has reinvented itself.

4. 8-9 years of tailwinds are visible

Session 2 - Balaji Vaidyanath, NAFA Asset - Castrol

1. Low MNC slowly waking up

2. Market share of 39% in cars

3. 1200 cr. cash on the books

4. New Segments in EV fluids (Tamo, MG) & liquid immersion for Data Centers (Submer) PLUS JIO-BP JV

5. Upside - 52%

Session 3 - Vidya Bala - Landmark Cars

1. India, 3rd largest market for PV

2. Shift is to luxury segment (14-16% CAGR for next few years)

3. 117 outlets, 27 cities

4. After-sales is lucrative (36% ROCE)

5. But thin margins

6. Game changer can be importing duty reduction

Session 4 - Ankit Kanodia - Car Trade Tech

1. One year forward P/E is 13 & P/S is 2

2. IPO was decorated

3. Good acquisitions made

4. Asset light & operating leverage opportunity

5. Zero debt, 700 cr. cash

6. Current valuation is much cheaper compared to peers

Session 5 - Abhijit Chokshi - Gujarat Pipavav

1. Recommended at 170 to his clients

2. Located at strategic place

3. Excellent connectivity with DFC

4. Debt free, good cash flows (only two listed ports that are debt free in the world)

5. Increased tariffs by 3-7%

Session 6 - Chokkalingam G - Vindhya Telelink

1. Be cautious, too much is factored in

2. Telecom EPC, set for digital initiatives

3. Has holdings in Birla Corp and Birla Cable

4. Enterprise value is cheap

5. Core business doing well

Session 7 - Prajesh Maroo - Control Print

1. Printer-base is continuously growing up

2. RFID Chips creating indirect moat

3. QR code mandates will help the growth

4. Aiming for 400 cr. top line for FY25 with 25% margins

5. Good acquisitions, business initiatives and JVs made

Session 9 - Aravind Kothari - KDDL

1. Per capita relation with luxury boom is real

2. Precision Engineering is growing

3. 100% market share in Watch Hands in India & Largest in Watch Dials

4. Avg sell price up by 20% CAGR in last 5 yrs.

5. To grow 20-25% for next 3-4 yrs.

Session 10 - Prabhakar Kudva - Sanghvi Movers

1. Largest Crane renting co in India

2. Good visibility for next 2 yrs.

3. Capex of 300 cr.

4. Cranes directly going from OEM to Site

5. 1 yr. Forward P/E-18

6. Operating Leverage play

7. Optionality - EPC in wind & other segments

Session 11 - Ish Mohit Arora - GPIL

1. Policy change is the trigger (regime of free allocation)

2. Integrated player, low debt, lowest cost producer, higher realization & better EBITDA

3. Iron ore capacity to go up from 2.6 mt to ~6.7 mt & accordingly other products to go up

Session 12 - Tushar Bohra - Shilpa Medicare

1. Lots of things went wrong

2. It could be 4X EBITDA in 4 years, Have a strong pipeline and triggers in Biologics, Formulation, API & TD/ODF

3. By FY25, most things will fall in place.

4. Albumin could be a game changer (patent)

Session 13 - Ganeshram J - Sundaram Finance

1. No dilution for 50+ years

2. They were Risk averse b4

3. What changing - Diversification, expand non-south, least funding cost, better margins & SoTP upside

Session 14 - Vivek M - Poly Medicare

1. Largest exporter of medical devices

2. Medical devices market growing at 16% CAGR

3. Top 3 IV Cannula Mfr, 372 Patents & strong distribution networks

4. 80% devices r imported, 300cr capex, dialysis market, Operating Leverage & US Ramp up

Session 15 - Pawan P - PNB Housing Finance

1. Sector growing at 15% CAGR

2. New leadership

3. Asset quality is getting better

4. Branch network growing

5. AUM CAGR of 18% for next 2 yrs. and FY26 P/B is 1.0

6. Roa is growing

Session 16 - Kumar Saurabh - LT Foods

1. Has dominant leadership & acquired lots of another Cos

2. Double digit growth & a potential of re-rating

3. New products growing faster

4. BS getting better & good cash flows

5. SALIC could help in Middle East

6. Conservative TP 256

Session 17 - Hamsini Karthik - IndusInd

1. Turnaround story, Asset quality improving

2. Retail focus increasing

3. Forward looking valuations are attractive.

4. Loan book is expected to grow by 20%+

Session 18 - Vikas Kasturi - Repco Home Finance

1. Cheapest home finance company

2. Many things gone wrong

3. New leadership driving the change

4. Asset quality and disbursements improving

5. Potential re-rotating candidate

Session 19 - Athreya Ramkumar - PVR INOX

1. Dominant market share

2. Screens to go up from 1700 to 3000 in next 5-7 years

3. F&B revenues significantly going up helping margins

4. To be Net debt free in 3-5 years

Session 20 - Mohit Beniwal - REITs

1. REITs are growing fast due to office demand & GCCs

2. Almost 70% income is tax free

3. Excellent fixed income opportunity

4. Re-leasing yields much higher (15%+) kicking in operating leverage

5. Int rates reduction - icing on the cake