In today’s briefing:
- Hexaware Technologies IPO Trading – Very Strong Anchor, Very Poor Overall
- Kiri Industries Q3FY25 Update: Legal Case Win & Copper Project
- EFC India Limited Q3 Update: Driving Growth Through Design and Build Verticals
- Arvind SmartSpaces Limited Q3 Update: Leveraging Market Trends for Future Revenue Potential
- Innovatiview India Ltd Pre-IPO Tearsheet
- Welspun Corp Q3 Update: Capitalizing on Infrastructure and Renewable Demand
Hexaware Technologies IPO Trading – Very Strong Anchor, Very Poor Overall
- Hexaware Technologies raised around US$1bn in its India IPO, while its anchor book was strong, overall coverage was not.
- Hexaware is a global digital and technology services company with AI at its core, delivering innovative solutions that help customers in their digital transformation journey and subsequent operations.
- We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.
Kiri Industries Q3FY25 Update: Legal Case Win & Copper Project
- Kiri Industries (KIRI IN) ’s Q3/9M FY25 results show revenue growth, operational enhancements, and a legal victory in the DyStar case, alongside a strategic shift in joint venture accounting.
- The legal win and growth in high-margin segments signal improved profitability and future revenue potential, bolstered by a robust copper project on track for 2028.
- The new copper unit: Company investing close to 8000Cr in the new copper business, In first phase co will invest near to 1100Crs.
EFC India Limited Q3 Update: Driving Growth Through Design and Build Verticals
- EFCI Ltd (EFCIL IN) witnessed a robust Q3 & 9M FY25 growth with sequential revenue, EBITDA, and PAT increases; new SM REIT registration and strategic seat expansion initiatives bolster operations.
- Strong financial performance amid market challenges underscores resilience in flexible workspace and real estate sectors, positioning EFC India to capitalize on rising demand and government support.
- Company is planning to add 25000 seats annually, where expecting furniture vertical worth INR 150Crs and Design & Build worth INR 225-250Crs next year.
Arvind SmartSpaces Limited Q3 Update: Leveraging Market Trends for Future Revenue Potential
- Arvind SmartSpaces (ARVSMART IN) posted 149% YoY revenue growth in Q3 FY25 and secured new projects worth RS. 3,850 crore, despite a 20% YoY decline in bookings due to approval delays.
- Improved profitability and strategic project wins underscore its resilience in a dynamic real estate market, driving long-term value despite operational hurdles.
- Company is planning to deploy Rs.500 to Rs. 600 crore in both vertical and horizontal projects over the next six months.
Innovatiview India Ltd Pre-IPO Tearsheet
- Innovatiview India Ltd (INNOVATIVIEWINDIA IN) is looking to raise about US$230m in its upcoming India IPO. The bookrunners for the deal are DAM, ICICI, JM FIn, Motilal.
- Innovatiview India ltd (IIL) is a technology-driven provider of automated ancillary security and surveillance solutions for examinations, elections, and large-scale events across India.
- IIL was the largest player in examination integrated security solutions in India, with a market share of 73.7% in terms of revenue for FY24, according to F&S Report.
Welspun Corp Q3 Update: Capitalizing on Infrastructure and Renewable Demand
- Welspun Corp (WLCO IN)’s Q3 FY25 results show a sequential 9% revenue increase, significant net profit surge to Rs. 675 crore, and a robust order book exceeding Rs. 15,000 crore.
- Improved profitability and strategic growth initiatives bolster Welspun’s market position, enabling the company to capitalize on expanding demand in infrastructure and renewable sectors.
- Total Order book increased to 8.66L Ton in India and US, DI Pipe order book is at 3.5L Tons, where Saudi order book is for more than 2.5 yrs.
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