In today’s briefing:
- Asia Real Estate Tracker (18-Apr-2025): Morgan Stanley buys 50% of Frasers Aussie Shed Portfolio.
- The Beat Ideas- Time Technoplast: Driving Growth Through Innovation & Value-Added Products
- The Beat Ideas: Vinati Organics- A Niche Giant in Specialty Chemicals
- Mani (7730 JP): Guidance Reiterated; Dental Loosing Shine And Dented Margins Remain Concerns
Asia Real Estate Tracker (18-Apr-2025): Morgan Stanley buys 50% of Frasers Aussie Shed Portfolio.
- Morgan Stanley purchases 50% stake in $380M Frasers Australian warehouse portfolio, expanding its real estate holdings.
- CapitaLand seeks $380M China Mall REIT listing in Shanghai, showing confidence in China’s retail market.
- China experiences moderate home price growth in March, with some cities showing signs of recovery after recent slowdowns.
The Beat Ideas- Time Technoplast: Driving Growth Through Innovation & Value-Added Products
- Time Technoplast (TIME IN) holds a dominant position in the industrial packaging sector, with leadership in composite cylinders, IBCs, plastic drums, benefiting from a strong global presence& high entry barriers.
- TTL is increasingly focusing on higher-margin segments like CNG cylinders, hydrogen storage, and composite products. These initiatives offer significant scalability and margin expansion, setting up strong long-term revenue growth.
- With strategic R&D investments, TTL is entering emerging sectors like e-mobility (e-rickshaw batteries) and hydrogen fuel cylinders, tapping into new high-growth markets that could diversify revenue and fuel sustainable growth.
The Beat Ideas: Vinati Organics- A Niche Giant in Specialty Chemicals
- Vinati Organics (VO IN) dominates the global market with a 65% share in ATBS and IBB, offering strong profitability driven by high-demand sectors like water treatment and pharmaceuticals.
- With a INR570 crore capex investment, Vinati is expanding its ATBS capacity by 50%, diversifying into high-growth segments such as MEHQ, Guaiacol, and Antioxidants, positioning itself for long-term revenue growth.
- Vinati is strategically increasing its domestic revenue share (45% of FY24 sales), while strengthening its export presence, capitalizing on India’s “Make in India” initiative and reducing currency volatility risks.
Mani (7730 JP): Guidance Reiterated; Dental Loosing Shine And Dented Margins Remain Concerns
- Mani Inc (7730 JP) H1FY25 revenue rose 6.5% YoY, mainly driven by surgical segment, eyeless needles segment, while margins remained under pressure.
- Despite the underperformance of dental segment, management reiterated FY25 guidance. Expecting Yen appreciation against the USD, the company expects just mid-single-digit sales and operating income growth for FY25.
- Mani shares plunged 5% since it published its H1 results. Investors should avoid Mani due to its uncertain revenue outlook and deteriorating profitability in short-term.
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