INDUSTRIALS Archives | Page 15 of 295 | Smartkarma

• RPMGlobal Holdings Limited (RUL AU) entered a scheme implementation deed with Caterpillar Inc (CAT US) at A$5.00 per share, a 32.6% premium to the undisturbed price.
• The key scheme conditions are RPM shareholder, FIRB and ACCC approval. RPM’s benign shareholder structure facilitates completion.
• The offer is attractive. At the last close and for an 18 February 2026 payment, the gross/annualised spread is 2.7%/7.8%.  

• Singamas is a major global container manufacturer facing a cyclical industry downturn, characterized by overcapacity and pressure on container prices.
• Despite challenging market conditions, the company maintains a strong balance sheet, an asset-light model, and is diversifying into higher-margin specialized containers, such as Energy Storage Systems (ESS), and growing its leasing business to provide more stable revenue streams.
• The company offers a compelling dividend yield, supported by a stated policy of returning value to shareholders, but faces significant risks from global trade tensions, economic slowdowns, and intense competition.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• Recently, Blackstone published a report titled “Investing in the Picks and Shovels of AI.” You can read the report here.
• One image from the report that caught my eye was the growth in data that will be consumed and stored.
• One natural beneficiary of this massive increase in data is Western Digital (WDC) and its hard drive business.

Key points (machine generated)

• Regal Rexnord Corporation, founded in 1955, is a major player in the motion and power sector with a market cap of $8.9 billion and revenues of $6 billion.
• The company has shifted from traditional electric motor manufacturing to sustainable motion and power solutions, highlighted by key acquisitions and mergers over the past decade.
• RRX operates through three main segments: Industrial Powertrain Solutions, Automation & Motion Control, and has streamlined its portfolio by divesting its industrial motors and generators business.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Fevara is the new name of Carr’s Group, reflecting the refocusing of the business as a global leader in sustainable livestock supplements. Such supplements aim to improve digestion to enhance growth rates, which assists farming economics while also supporting animal welfare. Management’s strategy involves improving returns, accelerating growth in traditional markets and expanding into faster-growing emerging markets. This should provide investors with a strong recovery in profits from the operational improvements combined with medium-term growth.

• In today’s Morning Views publication we comment on developments of the following high yield issuers: International Container, Jababeka
• UST yields tumbled 9-11 bps across the curve on Friday, supported by haven demand following US President Donald Trump’s threat of new 100% tariffs and export controls on China.
• The yield on the 2Y UST declined 9 bps to 3.50%, while that on the 10Y UST was down 11 bps at 4.03%. Equities and risky assets (e.g. cryptocurrency) fell on fresh geopolitical worries, while gold and silver rose. The S&P 500 declined 2.7% (the worst one-day performance since April) to 6,553, while the Nasdaq slumped 3.6% to 22,204.

• RPMGlobal Holdings Limited (RUL AU) entered a scheme implementation deed with Caterpillar Inc (CAT US) at A$5.00 per share, a 32.6% premium to the undisturbed price.
• The key scheme conditions are RPM shareholder, FIRB and ACCC approval. RPM’s benign shareholder structure facilitates completion.
• The offer is attractive. At the last close and for an 18 February 2026 payment, the gross/annualised spread is 2.7%/7.8%.  

• Singamas is a major global container manufacturer facing a cyclical industry downturn, characterized by overcapacity and pressure on container prices.
• Despite challenging market conditions, the company maintains a strong balance sheet, an asset-light model, and is diversifying into higher-margin specialized containers, such as Energy Storage Systems (ESS), and growing its leasing business to provide more stable revenue streams.
• The company offers a compelling dividend yield, supported by a stated policy of returning value to shareholders, but faces significant risks from global trade tensions, economic slowdowns, and intense competition.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• Recently, Blackstone published a report titled “Investing in the Picks and Shovels of AI.” You can read the report here.
• One image from the report that caught my eye was the growth in data that will be consumed and stored.
• One natural beneficiary of this massive increase in data is Western Digital (WDC) and its hard drive business.

Key points (machine generated)

• Regal Rexnord Corporation, founded in 1955, is a major player in the motion and power sector with a market cap of $8.9 billion and revenues of $6 billion.
• The company has shifted from traditional electric motor manufacturing to sustainable motion and power solutions, highlighted by key acquisitions and mergers over the past decade.
• RRX operates through three main segments: Industrial Powertrain Solutions, Automation & Motion Control, and has streamlined its portfolio by divesting its industrial motors and generators business.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Fevara is the new name of Carr’s Group, reflecting the refocusing of the business as a global leader in sustainable livestock supplements. Such supplements aim to improve digestion to enhance growth rates, which assists farming economics while also supporting animal welfare. Management’s strategy involves improving returns, accelerating growth in traditional markets and expanding into faster-growing emerging markets. This should provide investors with a strong recovery in profits from the operational improvements combined with medium-term growth.

• In today’s Morning Views publication we comment on developments of the following high yield issuers: International Container, Jababeka
• UST yields tumbled 9-11 bps across the curve on Friday, supported by haven demand following US President Donald Trump’s threat of new 100% tariffs and export controls on China.
• The yield on the 2Y UST declined 9 bps to 3.50%, while that on the 10Y UST was down 11 bps at 4.03%. Equities and risky assets (e.g. cryptocurrency) fell on fresh geopolitical worries, while gold and silver rose. The S&P 500 declined 2.7% (the worst one-day performance since April) to 6,553, while the Nasdaq slumped 3.6% to 22,204.

• RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, has entered into a Scheme with Caterpillar Inc (CAT US).
• Caterpillar, which currently holds no shares in RPMGlobal, is offering A$5/share (the same as in the NBIO), a 32.8% premium to undisturbed. Terms have not been declared final.
• FIRB and ACCC approvals are conditions. FIRB won’t be an issue. The key ACCC question is whether the combo has significant direct market overlap that triggers substantial competition concerns.

• Sterlite Electric (1408581D IN) is looking to raise about US$169m in its upcoming India IPO. The deal will be run by Axis Capital, Motilal Oswal, Nuvama.
• Sterlite Electric Limited, formerly known as Sterlite Power Transmission Limited, is a manufacturer  and provider of system integration solutions, primarily focused on the power transmission and distribution (T&D) industry.
• Its product portfolio spans high-performance conductors, composite core conductors, and extra high-voltage cables, catering to both domestic and global markets.

• RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, has entered into a Scheme with Caterpillar Inc (CAT US).
• Caterpillar, which currently holds no shares in RPMGlobal, is offering A$5/share (the same as in the NBIO), a 32.8% premium to undisturbed. Terms have not been declared final.
• FIRB and ACCC approvals are conditions. FIRB won’t be an issue. The key ACCC question is whether the combo has significant direct market overlap that triggers substantial competition concerns.

• Sterlite Electric (1408581D IN) is looking to raise about US$169m in its upcoming India IPO. The deal will be run by Axis Capital, Motilal Oswal, Nuvama.
• Sterlite Electric Limited, formerly known as Sterlite Power Transmission Limited, is a manufacturer  and provider of system integration solutions, primarily focused on the power transmission and distribution (T&D) industry.
• Its product portfolio spans high-performance conductors, composite core conductors, and extra high-voltage cables, catering to both domestic and global markets.

• Rexel’s performance in the first half of 2025 illustrates a balanced navigation through diverse market conditions, characterized by firm growth in its North American operations and challenged, but resilient outcomes in Europe.
• The company’s strategy, underscored by strong cash generation, continued adaptation to digital trends, and targeted mergers and acquisitions, has facilitated steady performance amidst mixed macroeconomic signals.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• SPIE’s latest financial results showcase several notable aspects of its operational and strategic positioning within the industrial services sector, with both positive and negative elements to consider from an investment perspective.
• From a positive standpoint, SPIE reported a revenue increase of 5.8% in the first half of 2025, amounting to EUR 4,979 million.
• This growth was driven by a robust 2.4% organic growth rate and a substantial contribution from acquisitions, notably increasing their footprint in markets such as Poland, Switzerland, and the Netherlands.

• Rexel’s performance in the first half of 2025 illustrates a balanced navigation through diverse market conditions, characterized by firm growth in its North American operations and challenged, but resilient outcomes in Europe.
• The company’s strategy, underscored by strong cash generation, continued adaptation to digital trends, and targeted mergers and acquisitions, has facilitated steady performance amidst mixed macroeconomic signals.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• SPIE’s latest financial results showcase several notable aspects of its operational and strategic positioning within the industrial services sector, with both positive and negative elements to consider from an investment perspective.
• From a positive standpoint, SPIE reported a revenue increase of 5.8% in the first half of 2025, amounting to EUR 4,979 million.
• This growth was driven by a robust 2.4% organic growth rate and a substantial contribution from acquisitions, notably increasing their footprint in markets such as Poland, Switzerland, and the Netherlands.

• Electronic payments and consumption surged post the GST rate cut, with Delhivery reporting a record 104 million shipments in September 2025.
• The Ecom Express integration and festive demand have positioned Delhivery for volume leadership and margin expansion.
• With strong execution and improving capital efficiency, Delhivery is set to consolidate its dominance in India’s third-party logistics market.

• Sales increased by JPY2.3bn (+8.7% YoY), with growth in Creative (Japan) and Medical Staffing segments, despite operating profit decline.
• Progress toward FY02/26 forecast: 46.8% sales, 42.8% operating profit, 42.2% recurring profit, 69.2% net income achieved.
• CRES segment sales were JPY411mn (20x YoY), with an operating loss of JPY467mn, reflecting new subsidiary performance.

• E-J Holdings reported Q1 FY05/26 revenue of JPY4.3bn, a 39.1% YoY increase, with operating loss of JPY1.5bn.
• Orders received totaled JPY11.8bn, a 31.5% YoY increase, due to Tokyo Soil Research Co., Ltd. consolidation.
• Losses at all profit levels due to government-related revenue concentration in Q4 and consistent fixed costs.

• Revenue increased 17.0% YoY to JPY15.4bn, driven by strong Emergency and Preventive Maintenance Services performance.
• Operating profit rose 25.6% YoY to JPY1.2bn, with an OPM increase of 0.5pp YoY to 7.5%.
• Shin Maint Holdings expanded market share by acquiring new customers and projects from competitors, enhancing sales activities.

Key points (machine generated)

• TOKAI Holdings Corporation reported record Q1 FY3/26 results with net sales of ¥58,128 million and operating profit of ¥3,941 million.
• Growth was driven by the energy business, supported by a customer base of approximately 3.44 million and favorable market conditions.
• For FY3/26, the company projects net sales of ¥253,000 million and operating profit of ¥17,500 million, with a focus on a 40-50% dividend payout ratio.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Vp has delivered a resilient H1 performance against a backdrop of ongoing market challenges.
• Full year expectations are reiterated, with improving prospects for Rail and Water in particular.
• The Brandon Hire Station recovery plan is on course to complete by the end of the year, and the search is underway for Anna Bielby’s successor as CEO, who will inherit a business in strong shape.

Key points (machine generated)

• Builders FirstSource is the largest U.S. supplier of structural building materials and services, with 2024 net sales of $16.4 billion.
• Revenue is primarily generated from new single-family construction (71%), with diverse product offerings including lumber, windows, and manufactured products.
• Analysts consider BLDR undervalued due to expected housing starts and operational efficiencies, with chairman Paul Levy recently investing $55 million in the company.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Institutions net bought S$481.3 million in Singapore stocks, with Marco Polo Marine and Frencken Group leading in net buying.
• Marco Polo Marine secured S$100 million in ship chartering contracts and expanded its fleet with new vessels.
• Frencken Group focuses on sustainable expansion with new manufacturing facilities and aims to boost semiconductor competitiveness by 2027.

• Electronic payments and consumption surged post the GST rate cut, with Delhivery reporting a record 104 million shipments in September 2025.
• The Ecom Express integration and festive demand have positioned Delhivery for volume leadership and margin expansion.
• With strong execution and improving capital efficiency, Delhivery is set to consolidate its dominance in India’s third-party logistics market.

• Sales increased by JPY2.3bn (+8.7% YoY), with growth in Creative (Japan) and Medical Staffing segments, despite operating profit decline.
• Progress toward FY02/26 forecast: 46.8% sales, 42.8% operating profit, 42.2% recurring profit, 69.2% net income achieved.
• CRES segment sales were JPY411mn (20x YoY), with an operating loss of JPY467mn, reflecting new subsidiary performance.

• E-J Holdings reported Q1 FY05/26 revenue of JPY4.3bn, a 39.1% YoY increase, with operating loss of JPY1.5bn.
• Orders received totaled JPY11.8bn, a 31.5% YoY increase, due to Tokyo Soil Research Co., Ltd. consolidation.
• Losses at all profit levels due to government-related revenue concentration in Q4 and consistent fixed costs.

• Revenue increased 17.0% YoY to JPY15.4bn, driven by strong Emergency and Preventive Maintenance Services performance.
• Operating profit rose 25.6% YoY to JPY1.2bn, with an OPM increase of 0.5pp YoY to 7.5%.
• Shin Maint Holdings expanded market share by acquiring new customers and projects from competitors, enhancing sales activities.

Key points (machine generated)

• TOKAI Holdings Corporation reported record Q1 FY3/26 results with net sales of ¥58,128 million and operating profit of ¥3,941 million.
• Growth was driven by the energy business, supported by a customer base of approximately 3.44 million and favorable market conditions.
• For FY3/26, the company projects net sales of ¥253,000 million and operating profit of ¥17,500 million, with a focus on a 40-50% dividend payout ratio.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Vp has delivered a resilient H1 performance against a backdrop of ongoing market challenges.
• Full year expectations are reiterated, with improving prospects for Rail and Water in particular.
• The Brandon Hire Station recovery plan is on course to complete by the end of the year, and the search is underway for Anna Bielby’s successor as CEO, who will inherit a business in strong shape.

Key points (machine generated)

• Builders FirstSource is the largest U.S. supplier of structural building materials and services, with 2024 net sales of $16.4 billion.
• Revenue is primarily generated from new single-family construction (71%), with diverse product offerings including lumber, windows, and manufactured products.
• Analysts consider BLDR undervalued due to expected housing starts and operational efficiencies, with chairman Paul Levy recently investing $55 million in the company.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Institutions net bought S$481.3 million in Singapore stocks, with Marco Polo Marine and Frencken Group leading in net buying.
• Marco Polo Marine secured S$100 million in ship chartering contracts and expanded its fleet with new vessels.
• Frencken Group focuses on sustainable expansion with new manufacturing facilities and aims to boost semiconductor competitiveness by 2027.

• Our NAV analysis of Samsung C&T suggests implied market cap of 43 trillion won or target price of 253,146 won per share which is 28% higher than current price. 
• The biggest components of Samsung C&T’s value is its stakes in Samsung Electronics and Samsung Biologics which are worth 54.1 trillion won (161% higher than Samsung C&T’s current market cap).   
• In the past three months, the share price discrepancy between Samsung Electronics and Samsung C&T is more noticeable (Samsung Electronics – up 47.3% versus Samsung C&T – up 15.9%). 

• With a 37.3% rally in Shanghai Electric Group Company (2727 HK)‘s share price in the last 5 trading days, it is poised for a correction, which is a long-term opportunity. 
• Key positive drivers include its Fanuc Robots earnings, progress in China’s nuclear fusion project, solid new order momentum, and speculation on asset acquisition.
• PER valuations are not cheap, but this is understandable due to the company’s transition. However, its 1.5x P/B multiple is not outrageously expensive relative to peers.

• BlackBuck operates in India’s highly fragmented trucking ecosystem, targeting the digitization of this traditional sector.
• The company functions as a digital platform that connects various stakeholders in the trucking industry.
• BlackBuck has established a dominant position in the Indian logistics technology space through its platform approach.

• In 1H FY02/26, revenue was JPY73.1bn (+1.5% YoY) with operating profit at JPY5.9bn (+23.0% YoY).
• Revenue from SC operations was JPY62.6bn (+1.0% YoY) and SB operations JPY10.4bn (+5.4% YoY).
• Gross profit in 1H FY02/26 was JPY13.6bn (+6.5% YoY) with a GPM of 18.5% (+0.9pp YoY).

• The MMC Port Holdings Berhad (2436494D MK) IPO is being delayed until 2026 to allow for more comprehensive disclosures that reflect recent developments in the industry and its operations.  
• This has a positive read-through for Westports Holdings (WPRTS MK), where tariff hikes are expected to have a positive impact on results through 2025-2027. 
• Read our initiation of coverage on ICTSI (ICT PM) in our insight, ICTSI (ICT PM): Terminal Operator, Serial Grower With Pricing Power, 20% ROCE, 30% Net Margins 

• Aequs Ltd is looking to raise about US$200m in its upcoming India IPO. The deal will be run by JM Financial, IIFL Capital and Kotak.
• Aequs Limited is a precision-engineering and manufacturing company that produces complex, high-tolerance components for global OEMs across the aerospace and consumer sectors.
• The company operates three integrated manufacturing ecosystems in India (the Belagavi, Hubballi, and Koppal clusters) each designed to deliver end-to-end production capabilities from design to assembly.

• Teleperformance, a prominent global company providing customer experience management, released its results for the first half of 2025 in a recent earnings call.
• The company’s performance showcases both positive developments and areas of concern, resulting in a mixed outlook for potential investors.
• On the positive side, Teleperformance reported commendable growth in its core services, achieving a like-for-like revenue growth of nearly 3%.

• The commercial passenger aircraft leasing Company has published its annual report and audited financial statements for the year ended 30 June 2025.
• Revenue increased by 19.2% to $110m (from $92m in 2024), with EBITDA increasing by 20.3% to $107.1m.
• Total year-end cash and bank balances were $130m and $148.5m at 26 September 2025. 

• Northern Bear PLC (NTBR) announced an update on trading yesterday.
• We have published research on this which is attached and a snapshot of the research is below.
• The stronger trading in Q1 has continued and yesterday’s Trading Update reported H1 trading to September 2025 above expectations.

Key points (machine generated)

• TANABE CONSULTING GROUP CO., LTD. achieved record-high net sales of ¥14,543 million and operating profit of ¥1,500 million in FY3/25, marking increases of 14.2% and 48.6%, respectively.
• The company’s growth is attributed to successful business development, M&A initiatives, and expansion in five key consulting domains, including Digital and DX.
• For FY3/26, TCG projects a 10% increase in net sales to ¥16,000 million and a 20% rise in operating profit to ¥1,800 million, supported by a proactive M&A strategy and enhanced service specialization.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Our NAV analysis of Samsung C&T suggests implied market cap of 43 trillion won or target price of 253,146 won per share which is 28% higher than current price. 
• The biggest components of Samsung C&T’s value is its stakes in Samsung Electronics and Samsung Biologics which are worth 54.1 trillion won (161% higher than Samsung C&T’s current market cap).   
• In the past three months, the share price discrepancy between Samsung Electronics and Samsung C&T is more noticeable (Samsung Electronics – up 47.3% versus Samsung C&T – up 15.9%). 

• With a 37.3% rally in Shanghai Electric Group Company (2727 HK)‘s share price in the last 5 trading days, it is poised for a correction, which is a long-term opportunity. 
• Key positive drivers include its Fanuc Robots earnings, progress in China’s nuclear fusion project, solid new order momentum, and speculation on asset acquisition.
• PER valuations are not cheap, but this is understandable due to the company’s transition. However, its 1.5x P/B multiple is not outrageously expensive relative to peers.

• BlackBuck operates in India’s highly fragmented trucking ecosystem, targeting the digitization of this traditional sector.
• The company functions as a digital platform that connects various stakeholders in the trucking industry.
• BlackBuck has established a dominant position in the Indian logistics technology space through its platform approach.

• In 1H FY02/26, revenue was JPY73.1bn (+1.5% YoY) with operating profit at JPY5.9bn (+23.0% YoY).
• Revenue from SC operations was JPY62.6bn (+1.0% YoY) and SB operations JPY10.4bn (+5.4% YoY).
• Gross profit in 1H FY02/26 was JPY13.6bn (+6.5% YoY) with a GPM of 18.5% (+0.9pp YoY).

• The MMC Port Holdings Berhad (2436494D MK) IPO is being delayed until 2026 to allow for more comprehensive disclosures that reflect recent developments in the industry and its operations.  
• This has a positive read-through for Westports Holdings (WPRTS MK), where tariff hikes are expected to have a positive impact on results through 2025-2027. 
• Read our initiation of coverage on ICTSI (ICT PM) in our insight, ICTSI (ICT PM): Terminal Operator, Serial Grower With Pricing Power, 20% ROCE, 30% Net Margins 

• Aequs Ltd is looking to raise about US$200m in its upcoming India IPO. The deal will be run by JM Financial, IIFL Capital and Kotak.
• Aequs Limited is a precision-engineering and manufacturing company that produces complex, high-tolerance components for global OEMs across the aerospace and consumer sectors.
• The company operates three integrated manufacturing ecosystems in India (the Belagavi, Hubballi, and Koppal clusters) each designed to deliver end-to-end production capabilities from design to assembly.

• Teleperformance, a prominent global company providing customer experience management, released its results for the first half of 2025 in a recent earnings call.
• The company’s performance showcases both positive developments and areas of concern, resulting in a mixed outlook for potential investors.
• On the positive side, Teleperformance reported commendable growth in its core services, achieving a like-for-like revenue growth of nearly 3%.

• The commercial passenger aircraft leasing Company has published its annual report and audited financial statements for the year ended 30 June 2025.
• Revenue increased by 19.2% to $110m (from $92m in 2024), with EBITDA increasing by 20.3% to $107.1m.
• Total year-end cash and bank balances were $130m and $148.5m at 26 September 2025. 

• Northern Bear PLC (NTBR) announced an update on trading yesterday.
• We have published research on this which is attached and a snapshot of the research is below.
• The stronger trading in Q1 has continued and yesterday’s Trading Update reported H1 trading to September 2025 above expectations.

Key points (machine generated)

• TANABE CONSULTING GROUP CO., LTD. achieved record-high net sales of ¥14,543 million and operating profit of ¥1,500 million in FY3/25, marking increases of 14.2% and 48.6%, respectively.
• The company’s growth is attributed to successful business development, M&A initiatives, and expansion in five key consulting domains, including Digital and DX.
• For FY3/26, TCG projects a 10% increase in net sales to ¥16,000 million and a 20% rise in operating profit to ¥1,800 million, supported by a proactive M&A strategy and enhanced service specialization.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.