In today’s briefing:
- Zomato Vs Swiggy: The Great Indian Delivery War
- The Beat Ideas: Prakash Industries Limited, A Mining Catalyst
- Zinka Logistics IPO – Has Grown Rapidly but Looks Expensive
Zomato Vs Swiggy: The Great Indian Delivery War
- Swiggy (1255298D IN) debuts with an 8% premium, raising Rs. 11,328 crore in IPO for Dark store expansion, brand promotion, tech & inorganic growth.
- Swiggy lags behind Zomato across metrics, while Zomato diversifies with high-growth ticketing and “Going Out” segments.
- With both segments is on the edge of becoming Contribution and EBITDA positive, one need to look the results of upcoming quarters of swiggy carefully.
The Beat Ideas: Prakash Industries Limited, A Mining Catalyst
- Prakash Industries (PKI IN) Bhaskarpara Coal Mine is now received all the government approvals ensuring stable, self-supplied coal for steel production as well as open market sale.
- This development reduces raw material costs, boosts EBITDA potential, and strengthens PIL’s valuation amid past corporate governance concerns.
- PIL has manageable debt and with rising EBITDA, the company is available at a very attractive valuation compared to its peers.
Zinka Logistics IPO – Has Grown Rapidly but Looks Expensive
- Blackbuck (1355652D IN) is looking to raise about US$130m in its India IPO.
- Zinka Logistics (Blackbuck) is India’s largest digital platform for truck operators (in terms of number of users), with 963,345 truck operators transacting on its platform in FY24, as per Redseer.
- Previously, we talked about the company’s historical performance. In this note, we share our quick thoughts on peer comparison and valuation.
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