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Daily Voice: US elections not a major factor for Indian stocks, says TRUST MF's Mihir Vora

Money ControlMoney Control · 1y ago
Daily Voice: US elections not a major factor for Indian stocks, says TRUST MF's Mihir Vora
Medial

Mihir Vora, CIO of TRUST Mutual Fund, believes that US elections are not significant for Indian stocks. He predicts potential earnings downgrades in banks, metals, oil and gas, FMCG, and some large-cap IT stocks for Q2FY25. Vora suggests that the options for high-growth segments are predominantly in small-caps or mid-caps, and there is still ample scope for stockpicking in small-caps. He states that small-cap stocks offer growth-adjusted valuations that are not expensive and are well-suited to TRUST Mutual Fund's philosophy of 'Terminal Value Investing'. Vora also identifies undervalued sectors for investment, such as banks, NBFC, chemicals, defence, auto and ancillaries, and asset management. He believes that India remains a buy-on-dips market and the US elections have minimal impact on Indian stocks.

Saswat Finance raises $2.6 Mn led by Ankur Capital

EntrackrEntrackr · 4m ago
Saswat Finance raises $2.6 Mn led by Ankur Capital
Medial

Saswat Finance raises $2.6 Mn led by Ankur Capital Saswat Finance, a Mumbai-based fintech platform, has raised $2.6 million in its pre-Series A funding round led by Ankur Capital. Incubate Fund Asia, an existing investor, also doubled its investment in this round. The startup previously raised seed funding from investors like Seedstars VC, Sparrow VC, and Incubate Fund Asia. The proceeds will help Saswat expand its technology capabilities, introduce new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. The funding will also be used to enhance its data and analytics infrastructure and broaden its product portfolio. Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance uses proprietary technology and alternative data, such as milk production and geographic trends, to enable efficient delivery of credit, insurance, and advisory services to underserved segments. “India’s rural segments — over 65% of the population — are underserved by traditional financial services. At Saswat, we blend technology and trust to bring financial services directly to their doorstep. This funding will help us deepen our reach and scale operations,” said Arun Tiwari, CEO of Saswat Finance. Saswat claims to have onboarded over 6,000 customers and disbursed more than Rs 55 crore in asset-backed loans.

Headsup B2B gross scales over 8X in FY24; profits spikes 88%

EntrackrEntrackr · 10m ago
Headsup B2B gross scales over 8X in FY24; profits spikes 88%
Medial

Construction goods and services platform Headsup B2B achieved over 8X year-on-year growth during the fiscal year ending March 2024. At the same time, the Delhi-based company’s profit increased by over 88% in the same period. Headsup B2B’s gross revenue spiked to Rs 43.4 crore in FY24, from Rs 5 crore in FY23, its annual financial statement filed with the Registrar of Companies (RoC) shows. Headsup B2B supplies construction materials, including cement, TMT steel, tiles, sanitary fittings, at wholesale prices across Delhi (NCR). The sale of goods is the sole source of revenue for the firm in FY24. According to the website of the company, it had delivered 1, 1400 MT of MMT, 500 tons of aggregates, and 150 MT of MS steel. For the construction goods platform, the cost of procurement of construction materials formed the largest cost component forming 96.8% of the overall expenditure. To the tune of scale, this cost spiked 12X to Rs 41.34 crore in the last fiscal year. Employee benefit expenses saw a modest increase of 3.3% to Rs 62 lakh, while finance costs rose to Rs 21 lakh. Overall, the company’s total expenses surged 9X to Rs 42.7 crore during the last fiscal year, from Rs 4.6 crore in FY23. Headsup B2B achieved a net profit of Rs 64 lakh in FY24, a notable 88.2% increase from Rs 34 lakh in FY23. Its ROCE and EBITDA margins improved to 65% and 2.52%, respectively. On a unit basis, the company spent Re 0.98 to earn a rupee of operating revenue in FY24. Headsup B2B's cash and bank balances grew significantly to Rs 11 lakh, while current assets increased to Rs 7.55 crore. Headsup B2B secured its first investment round of Rs 18.89 crore in September this year. The company, which has already surpassed Rs 100 crore in revenue since its inception, is targeting Rs 150 crore in revenue for the current fiscal year. Headsup B2B is an emerging player in the B2B construction goods marketplace, a segment which has been dominated by established players like OfBusiness, Moglix and Infra.Market. It also competes with new age companies like BRKZ, which is backed by BECO Capital and Aramco’s Wa’ed Ventures. Highlighting the scope of Headsup B2B, its founder, Sumit Kumar, said, "B2B space offers untapped potential into areas that are yet to be explored by well-funded companies and this gives us an interesting proposition to explore such segments.” According to Sumit Kumar, the company plans to initiate a fundraising campaign soon. "Our business model is more capital-efficient compared to our competitors. We aim to let our performance metrics speak for themselves, building the trust we need from potential investors," he said.

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