#Syrma #Kaynes #Dixon #PGEL
#EMS market is set to grow at +30% CAGR for at least next 5 years from โน1,469Bn to โน6,000Bn by FY27.
๐งต on some spl. business insights from Q3FY23 concall & other sources
@soicfinance @ishmohit1
1 can't miss this decadal opp.
Retweetโป๏ธ & Like๐
#EMS market is set to grow at +30% CAGR for at least next 5 years from โน1,469Bn to โน6,000Bn by FY27.
๐งต on some spl. business insights from Q3FY23 concall & other sources
@soicfinance @ishmohit1
1 can't miss this decadal opp.
Retweetโป๏ธ & Like๐
There are 2 models that business generally follow:
1. Low Value High Mix (LVHM) - eg. consumer
2. High Value Low Mix (HVLM) - eg. Industrial
This data suggests both type of businesses are set for long-term high growth.
1. Low Value High Mix (LVHM) - eg. consumer
2. High Value Low Mix (HVLM) - eg. Industrial
This data suggests both type of businesses are set for long-term high growth.
This is a crowded space with Indian and large MNC players. However, the industry as a whole is set to grow exponentially and established players who can achieve scale & offer wider capabilities stand to win bigger + mgt. are saying they are just scratching the surface ryt now.
Different players & verticals they operate in
#Kaynes Segments, Customers, Products supplied
#Syrma Segments, Key Customers & Products
P/E on Screener can be misleading:
#Kaynes guidance based on current order book:
FY23 - Sales 1200 Cr./ PAT 86 Cr. (P/E 62x)
FY24 - Sales 1700 - 1800 Cr. (Fwd P/E 37x E)
#Kaynes guidance based on current order book:
FY23 - Sales 1200 Cr./ PAT 86 Cr. (P/E 62x)
FY24 - Sales 1700 - 1800 Cr. (Fwd P/E 37x E)
#Kaynes New segment - Clean Energy
1. Hydrogen fuel area for non-automotive purposes.
1. Hydrogen fuel area for non-automotive purposes.
#Kaynes Old Narrative China +1, new narrative "Minus China + One" wah !!!
Very interesting insights on large deals taking place (final discussions) with huge tech transfer and shift from China/Europe.
Even Syrma is adding clients but didn't share such details.
Very interesting insights on large deals taking place (final discussions) with huge tech transfer and shift from China/Europe.
Even Syrma is adding clients but didn't share such details.
There are several other details that I am not sharing here. Read DRHP & Q3FY23 concall.
This space seems very interesting with long runway, as Syrma mgt says, "this is a huge industry and we have barely even touched the surface of this industry"
"Y2k moment"
This space seems very interesting with long runway, as Syrma mgt says, "this is a huge industry and we have barely even touched the surface of this industry"
"Y2k moment"
Given huge growth๐way, large TAM, 30% CAGR industry level growth, and no barriers 4 est. players to enter new segments -> likely that every player will deliver nos. what may differentiate one is efficiency, WC mgt., Inventory mgt., scale & capabilities, facilities near customer.
One may take a bet on EMS co. or could also consider electronic component proxies like #SBCL #XPROindia. I have been looking at #PGEL since CY21 when #Dixon the Indian's "Universal Champion" & #Amber where flying but its High Debt keeps me away.
Dixon's Moat๐
Dixon's Moat๐
Sources: DRHPs, Research Reports, Concalls, Investor Presentations.
This should give you an idea of where to look for info. when researching co. DRHP is the sweetest place to understand the Industry. Look for the most recently published DRHP of a co. in that industry.
This should give you an idea of where to look for info. when researching co. DRHP is the sweetest place to understand the Industry. Look for the most recently published DRHP of a co. in that industry.
Discl: Closely tracking/studying #SBCL #XPROINDIA #Kaynes #Syrma, may have a position in some.
#Cyient is another one. Looking fwrd to @soicfinance Sunday video on that biz.
#Cyient is another one. Looking fwrd to @soicfinance Sunday video on that biz.
Just to add:
Dixon, Amber, PG Elect WC days & CCC
Theres a stark difference compared to Kaynes & Syrma.
Industry is heavily dependent on electric components imports, not sure how inventory days are kept so low. Commonality, these are all consumer heavy biz. with low CCC.
Dixon, Amber, PG Elect WC days & CCC
Theres a stark difference compared to Kaynes & Syrma.
Industry is heavily dependent on electric components imports, not sure how inventory days are kept so low. Commonality, these are all consumer heavy biz. with low CCC.
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