Jv 225: Fill & Download for Free

In 2013 the Govt of India admitted in the Parliament that the reasons for delay are (as extracted from the report)(i) Ab-initio development of the state-of-the-art technologies.(ii) Non-availability of trained / skilled manpower in respect of ab-initio development projects.(iii) Non-availability of infrastructure / test facilities in the country.(iv) Technical / technological complexities.(v) Non-availability of critical components / equipment / materials and denial of technologies by the technologically advanced countries.(vi) Enhanced User’s requirements or change in specifications during development.(vii) Increase in the scope of work.(viii) Extended / long-drawn user trials.(ix) Failure of some of the components during testing / trials.Q. No. 225 Delay in military development projectsThe other reason is lack of Defence Planning due to lack of understanding of Defence matters by the Political executive. “Planning for defence is an extremely complex matter abounding in uncertainties. Since the state is dealing with future requirements, the success of research or design effort, availability of material resources or skilled personnel, capability of the builder, manufacturer or supplier, or even assurance of funding and stability of policy cannot be taken for granted. This is further complicated if foreign governments or manufacturers are involved, introducing uncertainties of licensing, sanctions, denial regimes, end-user issues and even unrelated matters such as diplomatic pressure . There are also the complications of offsets, sweeteners, kickbacks and disinformation/misinformation by competitors and interested parties.”Challenges in Defence PlanningAlso the PSU lobby controlled by Bureaucrats and Politicians creates a barrier to entry of Foreign Defence manufacturers. “Higher FDI and Joint Ventures (JV) in defence are also likely to offer other benefits such as faster and more robust development of the defence industry, increased employment opportunities, training of Indian manpower in handling high technology and opportunities for export to third countries. The only reason for the MoD’s concerns could be the objections from the powerful Defence Public Sector Undertakings (DPSUs) that fear a loss of their clout. “https://idsa.in/idsacomments/IndiasDefenceIndustryNeedforUrgentDecisions_RameshPhadke_180912

I have written a detailed answer on ITC recently at Gopal Kavalireddi's answer to What is Gopal Kavalireddi's view on the ITC stock for a 5 year perspective of investing?I will try to provide a decent analysis of LT Foods here:Ever since demonetization and introduction of GST, the strength of the branded players, formal & established companies, consumer facing companies is very much visible as they are making tremendous strides. This has reflected in the revenues and growth prospects including the stock prices, highlighted by companies like HUL, Dabur, Future Consumer and many other names.LT Foods is in the similar category. It is an emerging Consumer Food Company with focus on Basmati and other specialty rice, organic food and other convenience rice based products with presence in more than 65 countries. The company derives 55% of the revenues from exports and is a well established player with processing facilities in many countries, under the various brands like Daawat, Rozana, Ecolife, Indus Valley and many more[1][1][1][1] .Financials:Market cap: Rs. 2300 cr., Net Sales (TTM) of Rs. 3300 cr. Net Profit (TTM): Rs. 130 cr., P.E. at 17.7; with RoE and RoCE > 15% each.Net worth of Rs. 656 cr. vs a Debt of Rs. 1611 cr. which can be attributed to expansion and acquisition of new brands in the Middle East.Interest costs are at Rs. 150 cr. which is greater than the Net profit and almost 40% of the operating profit, which is worrisome. The quarterly interest costs are seeing a minor decreasing trend from Rs. 40 cr. in Dec 2016 to Rs. 34 cr. in Sep 2017.Promoter holding is at 67% out of which close to Rs. 9% is pledged.The stock returns from this company are very good in the last one year, moving from Rs. 21 to Rs. 86, giving a returns of more than 230%. It has performed much better than its segmental peers.Future Prospects:Branded products are the way of the future, with many companies even paying a higher price to introduce, retain and expand the food brands in other geographies, as this helps in their identity and brand value.The core of LT Foods is strong brand and broad distribution platforms, due to which the branded business market share has increased in most of its geographies of operation. Its organic business has been growing fast in USA and Europe.By establishing local network and processing facilities in Europe and US, the company is reducing its import costs, while being able to supply to other countries in and around EMEA (Europe, Middle East & Africa).As recently as Oct, the company started looking east and has entered into a JV with Japanese Snack Food major Kameda, to manufacture and market rice based snacks by the name of Kari Kari and is expecting a revenue of Rs. 100 cr. in the next 5 years from this business.Future prospects bode well for the food processing sector in general and LT foods seems reasonably priced, with worrying factor of debt and its ability to service it continuously or paring down most of it in the short term.If the debt decreases and comes to a level where the OPM is 4 times the interest cost, the company can command a higher P.E. similar to KBRL at around 28 - 30 zone.With a current H1 EPS of Rs. 2.67, and maintaining same P.E. of 17.7, Rs. 95 looks as a fair value target by Mar 2018. Incase, the quarterly interest cost reduces to less than 50% of the Net Profit by Jun-Sep 2018, then stock can be trading at around Rs. 200 - Rs. 225 levels.Financial data source credits: screener, LT Foods websites along with Company investor presentation from BSE AnnouncementsFootnotes[1] http://www.bseindia.com/xml-data/corpfiling/AttachHis/2af61e96-dc7a-4852-b40f-966d4c76d5a3.pdf[1] http://www.bseindia.com/xml-data/corpfiling/AttachHis/2af61e96-dc7a-4852-b40f-966d4c76d5a3.pdf[1] http://www.bseindia.com/xml-data/corpfiling/AttachHis/2af61e96-dc7a-4852-b40f-966d4c76d5a3.pdf[1] http://www.bseindia.com/xml-data/corpfiling/AttachHis/2af61e96-dc7a-4852-b40f-966d4c76d5a3.pdf

At my high school (we played in the highest classification in the state, big school), one of our starting LB’s was about 6′1″ and around 225. The other was 5′7″ and 160 was a joke on the program; he was closer to 150. And he was a senior. And a bulldog.If you have game, you’ll play somewhere. But as Mr. Yielding stated, don’t get so hung up on any one spot. You’re looking at JV so you’re likely a freshman or sophomore. A- you will continue to grow and maybe grow into a spot you want, and B- there is nothing wrong with playing elsewhere if that’s what the team needs.I was certain I could be a running back, that’s what I wanted. Coaches recognized my speed and agility and made me a defensive back instead. Bottom line - I played and helped my team win a lot of games.