Updater Services Limited IPO Message Board (Page 5)

​@gulhasan 
Why EBITDA margin droped from FY22 to FY23 ?

Can Exit orient ceratech and book loss in
Oricon enterprises
Hold remaining stocks

Can also book in RHI magnesita ( If you wish)
To minimize risk and have some reward on account of holding patiently

​@newgen consultancy Thank You very much for quick response.
Sir, I forget to mention for LIC, alloted in IPO. what to do in it, can i average it for future return or exit ?.

15 cr tax me jata... So valuation is inline with industry...

Are you sure of what you are saying?
The purpose of P&L account and CFS are completely different.
They made an investment of Rs 76.1 from cash and that cash maybe accumulated from past years profits or from debt. The cash has to nothing to do with the profit of the company.
The accounting works on dual entry system where if asset is increased then either another asset((generally cash) goes away or liability(including equity) increases.
If any investment is done then there is no direct impact on P&L. The investment/acquisition help in increasing revenue while the cost of asset/acquisition is gradually written off as depreciation/amortisation in P&L as expense. If you will observe the balance sheet then in FY 23 Goodwill is increasing due to acquisition which will be written off over the life of acquisition/asset.

If the acquisition which you are mentioning wouldn't had been done then there wouldn't be outflow of cash but it wouldn't had increased the profit.

I would be keen to learn from you and please correct me if i am doing any error.

Thanks.

Sir I read it in risk factors about the acquisition and amount paid to promoters in installments from 2021-22 and 2022-23 respectively

And then tried to showcase it from B/S
And their was a outflow from Cash flow statement

Will try analyzing once again and will conclude

​@Jetha Lal @newgen consultancy See the annual financial result of march 2023... It is in the expense... Please correct me if i m wrong...

​@IPO VALSAD Ji
This is non cash adjustment of current & non-current liabilities payable to the promoters of acquired subsidiaries. In dual entry system when some assets increases respectively some liabilities are also created and in this case when fair value of these liabilities changes they are recorded in P&L as per Indian accounting standards 103 which is globally recognised and accepted. When you calculate EPS from which you calculate P/E ratio that too calculated as per Ind-as 33 so in nutshell you have to prepare your financial statement as per recognised accounting standard and investors too make decision based on it.

I would request you to kindly read financial statement with notes of accounts and for this treatment refer note 23a & 23b of notes of accounts for further understanding.

You can't take off certain adjustment and then you say this is my adjusted profit and i will calculate valuation according to my adjusted profit. In employee remuneration expenses as well there are certain non-cash expenses like ESOP, do you remove it as well?

You have to take net profit presented as per Ind-as which is presented by the company.

Thanks.

​@Jetha Lal Ji thank you forsuch a great explanation.... Yes it is written in the notes of account in the financial statement...

​@Jetha Lal Ji... Aquisition ke reason se hi company ka expense badha(liability adjustment ke reason se) or uska PAT kam hua.. wo bhi to ek fact he na... Agar aquisition nahi hua hota to uska PE 23 - 24 k hi aas paas aake niklta... Or agar company ki subsidiary profit me hogi to fy 24 me uska PAT or badhega... Or PE kam hoga... To growth dikhega... Wo bhi sahi he na .. kyuki mera manana he ki aquisition or subsidiary sell ke kaaran result me aaye hue one time adjustment ko ham ignore karke parameters check kare to sahi pitcher saamne aayega....

Please me galat hou to muje batana... Thank you again...

​@IPO VALSAD Ji
Last 7 years me 7 acquisition kari hai company aur inka revenue bhi badh rha hai acquisition(inorganic growth) ki wajah se. Ye non cash adjustment hota hi rhega aur net profit ko hit karega future me bhi.

Agar aap ye adjustment ko hata kar EBITDA margin calculate karoge toh last year 7.15% se gir kar approx 6.6% aa gya hai so inka operational profit bhi dip hua hai.

​@newgen consultancy Sir
Just for knowledge which fund is manage buy Ashish Kacholia..
How you know he buy stack in this company.

Bengal Investment is the fund managed by
Mr.Ashish Kacholia

From anchor book I took the figure of amt Invested and then divided it by M.cap of the company to calculate actual stake

​@newgen consultancy  @Admin @ Chittorgarh.com @Prachi @ Team Chittorgarh.com 

Sir...with all due respect, I feel post money PE is a meaningless multiple since denominator factors earnings before primary fundraise by the Company and numerator factors equity value post fundraise. Its an intrinsically inconsistent ratio. I've seen it often being used on this platform and don't find it logical.
Keep minting!

Added PE post issue. Thanks for the message.

Sir , I would recommend to Exit on bounce on levels like 650-670 app.
Feeling bad while writing this but this would be a no Brainer and wise decision

Don't feel bad . Every incident in our life teaches us something
Here it is , Always keep a stop loss
And don't adjust with uncomfortable things after a point

Please take this positively

​@newgen consultancy Pls give your view on
1.Aditya birla sun life AMC
2.Aptus value housing finance
3.uday shivkumar infra

Thanks in advance 👍

It looks Company, Promoter and Book Runners are naughty as well:)

Right..

Which one is peer of this company?

Team lease
SIS
Quess Corp