Anand Parekar

And... India Shelter Continues to Dominate in FY26

Q3FY26 AUM: +31%, Spread: 6.6% (+50 bps YoY), PAT: +33% (excl. labor code impact). ROE: 17.1%, ROA: 5.8%

9MFY26: AUM: +31%, PAT: +37%

This Consistent, Predictable and Repeatable performance is no easy task..
believe me..

However, In Q3, GNPA: 1.5%, NNPA: 1.2% both inched inched up 30 bps in Q3, management commentary can throw more light on the direction and nature of these deterioration

#q3fy26 #indiashelter #nbfc #housingfinance #highgrowth

1 day ago (edited) | [YT] | 5

Anand Parekar

Ethos Q3FY26: "New Quarter but Same Old Story"

It's 2 years now since, PAT is stagnating for Ethos and there is no growth in bottom line.

And Stock has given no returns in last 2 years

Reasons are same old
1. Higher Rentals with new store addition
1. Skilled Manpower costs rising
3. Forex losses

and story has not changed in Q3 as well,

Now top line growth consistently been in the range of 25-30%, so with new store addition sales growth pace hasn't accelerated as most are recently opened and are in nascent stage.

Other Income saved them this time otherwise bottom line would have degrown.

Mgmt Says "We continue to accelerate our store rollout strategy, with a focused approach toward high-quality, premium locations that enhance brand visibility and improve store level productivity. In parallel, we remain committed to attracting, developing, and retaining high-quality talent, recognizing that people are central to executing our growth strategy in an evolving retail environment."

so, Costs can be expected to stay elevated, meaning this wont change in near term at least

With elevated valuations, deal doesn't look attractive to me

2 days ago (edited) | [YT] | 4

Anand Parekar

Transrail Lighting : Q3FY26 Results

Robust Numbers again and bit on all parameters

Order Book position is strong.

One-tme labour code impact on PAT else looks good.

More importantly keep an eye on Power grid's developments - Transrail's biggest client. Today Power Grid’s management revised the company’s FY26 capex guidance to Rs 32,000 crore from the earlier Rs 28,000 crore.

अब Power Grid अच्छा करेगा, तो Transrail को orders मिलता रहेगा.

Power is decadal theme, I am playing it through Transrail, Polycab & KEI.

What do you like in this space?

#q3fy26 #kei #polycab #transrail #power

6 days ago (edited) | [YT] | 4

Anand Parekar

Utkarsh SFB: Q3FY26 PnL

That's why I say once things start to get bad for bank or nbfc if caught in wrong cycle it gets bad, worse and worse and worse before it can get better

High pace of loan book growth is double aged sword look so good in good times but if tables turn it erodes lot of your networth...

Now growth is missing, Non JLG is 65% but unsecured book is still 50%. Though MFI cycle may be is on cusp on turning, skeletons from past book can emerge to haunt again.

In banks and nbfcs prefer steady players with consistent approach if you want to avoid such nightmares, as this is a leverage business.

#q3fy26 #utkarsh #sfb #microfinance

6 days ago | [YT] | 1

Anand Parekar

The reason behind fall of some of gold lenders post results is also falling gold prices. ( e.g. Capri Global, CSB Bank )

Bcoz falling gold prices will Increase LTV Ratio and that's not good sign.

Now, For CSB asset quality deteriorated but commentary alleviated most of the concerns but Capri also fell despite fabulous results

Sentiment is already weak and there's no margin for error especially when lenders have typically so far shown great results

Detailed analysis of CSB's concall coming up next.

#csb #q3fy26 #capriglobal #nbfc #goldfinancing

1 week ago | [YT] | 6

Anand Parekar

The point is you are always on your own, be it in markets or in life in general.

Nothing changes if you are investor in the market.

Trader का तो वैसे भी Profit Govenment का है, और Loss उसका अपना..

और उसको I feel चुनौती दी जा रही है, अब बनाके दिखा पैसा with every new tax tweaking...

#ltcg #stt #nirmalatai #sentiment

1 week ago (edited) | [YT] | 4

Anand Parekar

Sky Gold & Diamonds - What does Future Hold?

I am not an expert on Gold & Silver, but I want to talk about a concern that is currently running in my mind that could impact companies in this space - specifically the B2B gold manufacturers

Background – B2B Gold jewellery manufacturer’s growth is primarily driven by volumes and revenue model is cost plus margins.

1. The Current Gold & Silver price rise looks more like a phenomenon that is here to stay, gold may hold onto large part these gains and even can continue to inch up further before it starts to stagnate.
2. Now, people here in India buy gold largely for consumption during festivals or weddings and typically have specific budget in mind to spend for the occasion.
3. With the rise that happened recently, the ability to buy gold quantity has reduced, although value wise it may stay same or slightly increase.
4. Thus, jewellery volume (kgs) consumed by jewellers may decrease resulting in lower demand for manufacturing as inventories would move at slow pace.
5. Now, this situation clouds growth for B2B manufacturers.
6. Smaller jewellers with mediocre design variety may even struggle to survive as customers move to large format stores basically organized jewellers for more options. Unorganized to organized move becomes more prominent.

On the other hand, factors that can work in favour of B2B Jewellery manufacturers are if:

1. Jewellers like Titan, Senco, Kalyan PNG continue to aggressively expand their store network which will drive for gold volume
2. Light weight, inexpensive alternative jewellery demand picks up meaningfully that drive growth for B2B manufacturers
3. Export demand if works out as another growth driver

In all, culmination of all the above points I think still would be negative for B2B manufacturers.

So, commentary of Sky gold post Q3FY26 results will be more important to get cues for the future growth scenario. I wish and hope I am proved wrong and growth story remains intact but...

What do you think about this space, feel free to comment?

#q3fy26 #skygold #b2b #jewellery #b2bmanufacturer #skygolddiamonds

1 week ago (edited) | [YT] | 6

Anand Parekar

Sublime set of numbers posted by Manorama

A next phase of Capex plan as promised in the past quarters is finally unveiled worth 460 Cr and 4 new capacities 3 in India, 1 in Africa.

Guidance of revenue raised from 1150 Cr to 1300 Cr, growth of 69%

Detailed analysis shortly including concall details

#q3fy26 #manorama #fmcg #confectionary #cosmetic #highgrowth

1 week ago (edited) | [YT] | 8

Anand Parekar

The reason to like SBFC finance: Rock Solid Consistency

Q3FY26: AUM: +29%, GNPA: 2.71% (Flat), NNPA: 1.48% (-15 bps)
PAT: +34%, ROE: 14.56% (+181 bps YoY)

9MFY26: AUM: +29%, Branches: 230 (+33), GNPA: 2.71% (Flat), NNPA:
PAT: +31%, ROE: 14.07% (+149 bps YoY)

Detailed video in some time post concall

#q3fy26 #sbfc #nbfc #growthstocks #q3fy26results

2 weeks ago (edited) | [YT] | 4

Anand Parekar

Markets don't like to go long typically on Fridays.
God knows what Trump can do over a Weekend!

Trend wasn't so prominent but with Trump in house no one wants to take risk.

Sit tight if you are in for long term.
Trader को खेलने दो...

#Trump #markets #volatility

2 weeks ago (edited) | [YT] | 1