In today’s briefing:
- Religare’s New Dawn: The Burman Family Takes Control
- [Baidu, Inc. (BIDU US, SELL, TP US$80) TP Change]: AI Monetization by How Much & At What Cost?
- Royalty Pharma: These Are The Major Shifts That Could Redefine Biopharma Royalties!
- Confluent Inc.: Expanding Product Offerings To Possibly Disrupt the Market!
- Tech Supply Chain Tracker (22-Feb-2025): SK Hynix CEO optimistic on semiconductor industry post-DeepSeek.
- World Buys Mitsubishi Clothing Business
- Tyler Technologies: Is The Growth in Transactional Revenue & Payments Processing Here To Stay?
- Allied Blenders & Distillers Ltd Q3FY25 Update: Volume Growth, Premiumization
- BlackLine Inc.: Optimizing Go-To-Market Strategies For Growth Trajectories!
- Fidelity National Information Services: Will Its Focus On Core Banking & Digital Transformation Pay Off?
Religare’s New Dawn: The Burman Family Takes Control
- After an 18-month saga, the Burman family has taken control of REL, acquiring 25.16% equity and planning a INR 2,000 crore capital infusion.
- This takeover ends promoter-less governance, injecting fresh strategic capital to transform Religare into a competitive NBFC and drive long-term recovery.
- Investors should now view Religare as a turnaround story, with robust governance reforms, lower debt, and renewed focus on core financial services promising sustainable growth.
[Baidu, Inc. (BIDU US, SELL, TP US$80) TP Change]: AI Monetization by How Much & At What Cost?
- BIDU reported C4Q24 top line, non-GAAP op. profit and GAAP net income in-line, (22%) and (7.0%) vs. our est. and (3.7%), (24%) and in line vs. cons.
- While monetization on a largely in-house app repertoire can ensure AI revenue to start kicking in in C2H25, we are concerned on the size of this revenue,
- We maintain our SELL but raise TP to US$80 to reflect a short-term trading opportunity around AI monetization.
Royalty Pharma: These Are The Major Shifts That Could Redefine Biopharma Royalties!
- Royalty Pharma has reported robust financial results for the fourth quarter and full year 2024, underscoring its position as a leading funder of innovation within the life sciences sector.
- With a significant emphasis on strategic capital deployment, Royalty Pharma achieved portfolio receipts of $2.8 billion, marking a commendable 13% growth and surpassing initial guidance expectations of 5% to 9%.
- This financial performance reflects the company’s adept management and its capacity to expand its portfolio effectively.
Confluent Inc.: Expanding Product Offerings To Possibly Disrupt the Market!
- Confluent, Inc. exhibited several key strengths and challenges in its recent financial performance.
- The company’s subscription revenue for the fiscal year grew by 24% to $250.6 million, driven by a 38% increase in Confluent Cloud revenue and a 10% growth in Confluent Platform revenue.
- This reflects continued strong demand for enterprise-grade data streaming solutions, particularly in regulated industries.
Tech Supply Chain Tracker (22-Feb-2025): SK Hynix CEO optimistic on semiconductor industry post-DeepSeek.
- SK Hynix CEO remains bullish on semiconductor industry growth, highlighting new opportunities amidst challenges like DeepSeek.
- Oppo forges ahead with release of Find N5 foldable phone, undeterred by market slowdown in pursuit of growth and innovation.
- EU greenlights funds for Infineon’s Dresden fab in chip incentive effort, signaling continued support for semiconductor sector. Samsung exec receives sentence for leaking 18nm DRAM tech to CXMT, highlighting importance of protecting intellectual property.
World Buys Mitsubishi Clothing Business
- World may finally have found the key to real growth after years of trying to build a fashion retail business in shopping centres, but with limited success.
- The big problem was that it didn’t have the supply chain skills to compete with the big retailers like Uniqlo and Adastria.
- Buying the supplier that helped grow those same chains means World now has a real chance to enter the big leagues.
Tyler Technologies: Is The Growth in Transactional Revenue & Payments Processing Here To Stay?
- Tyler Technologies’ fourth-quarter results reflect a period of strong financial performance, characterized by significant growth and expansion across its key operational pillars.
- The company experienced 12.5% revenue increase, largely spurred by a 21.9% jump in subscription revenues, particularly within their SaaS offerings which saw close to 23% growth.
- This rise in subscription income underscores a strategic pivot towards cloud-based solutions, which remained a focal point in Tyler’s strategy, evident by accelerated SaaS adoption and a reduction in on-premise license revenues.
Allied Blenders & Distillers Ltd Q3FY25 Update: Volume Growth, Premiumization
- Allied Blenders & Distillers (9844250Z IN) ‘s Q3 FY25 results showed robust growth in revenue at Rs. 2,346 crores (up 15.5% sequentially, 12.9% YoY) and strong premiumisation with expanded export reach.
- Enhanced margins driven by effective cost optimization and profitable state brand mix highlight ABDL’s resilience and ability to capture premium market trends, strengthening its competitive position in India’s spirits industry.
- The company aims to grow the aggregate market share of its four millionaire brands and consolidate its position in the P&A whisky segment through its three millionaire brands
BlackLine Inc.: Optimizing Go-To-Market Strategies For Growth Trajectories!
- BlackLine, a cloud-based platform for finance and accounting professionals, reported its Q4 2024 earnings with mixed performance metrics.
- The company achieved 9% revenue growth despite the adverse impact of a strong U.S. dollar, which added currency headwinds.
- Non-GAAP operating margin was recorded at 18%, and the revenue renewal rate showed improvement, positioning at 96%—a significant metric in customer retention and satisfaction.
Fidelity National Information Services: Will Its Focus On Core Banking & Digital Transformation Pay Off?
- Fidelity National Information Services, Inc. (FIS) presented its financial results for the fourth quarter and full year 2024, outlining a strategic focus on driving commercial excellence, targeting growth vectors, and enhancing profitability.
- The company reported overall revenue growth for 2024 and noted that its growth trajectory is set to accelerate in 2025.
- In 2024, FIS reported a revenue growth rate between 3% to 4%, slightly below the company’s initial expectations due to one-time items affecting the quarter.
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