FINDI (FND) Indian ATM and Fintech business

[Sideshow Bob]

Another good day. And still very cheap. SP should be up towards $3 mark. Refer to my first post on this thread for valuations

You must be having another good day Rawz.....

$1.30.

[Rawz]

You must be having another good day Rawz.....

$1.30.

Sometimes I get the odd one right lol

[Rawz]

I’m no TA guru but it’s broken recent high on large volume which I believe is very good sign.

[silverblizzard888]

Banyantree investment group doing this best to put the word out about Findi being their top 3 Indian investments this week, all over different Australian media sites. Next week could be interesting if many investors start hopping on.

[Sideshow Bob]

Banyantree investment group doing this best to put the word out about Findi being their top 3 Indian investments this week, all over different Australian media sites. Next week could be interesting if many investors start hopping on.

Another 5% this morning, trading over $1.40 but currently just under.

Up, up and away......!!

[Sideshow Bob]

$1.53. Rawz must be on holiday today.....either that or he's fainted!

[Rawz]

[percy]

Well done.

[Rawz]

Thought I would update some valuation scenarios as the stock is up 57% since my original posting. Just to show there is still plenty of meat on the bone for a feed- imo.
I did buy more today at $1.50 per share.

FND market cap today is $75.6m
Total shares on issue: 48,801,290

FND subsidiary TSI India was valued at $153m on 15th November by Piramal whom are 75% owned by the Canadians. The valuation came about by a $37m debenture placement which converts to equity at a time that TSI is floated on the Bombay stock exchange.

FND own 90% of TSI.
FNDs stake in TSI is worth: 90% x $153m= $137.7m.

FND SP needs to gain 82% to reach this $137.7 valuation.

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FND FY24 guidance

• Revenue $67.3m
• EBITDA $23.6m
• Operating cash flows of $20.6m

The Piramal valuation above was based on an 8-9x FY23 EBITDA multiple.
8.5x FY24 EBITDA= $200.6m valuation.

FND SP needs to gain 165% to reach this $200.6m valuation.

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There are some other valuations linked to the planned listing on the Bombay stock exchange. However right now its best to just follow the EBITDA growth of majority owned TSI India (other owners are TSI senior management).

This calendar year is going to be exciting to watch. If a white label license is issued it will open up a big runway of future growth.
Additionally, late last year the chairman mentioned they were tendering for more brown label ATM contracts with other banks in India. These were for many thousand ATMs (FND currently manage 20,500).

Lastly the sleeping dragon is FINDI-Pay. The fintech part of the business that accounts for 10% of revenues currently but is growing rapidly. This is most exciting and if it gains traction will make the ATM part of the business look like a silly side hustle

[Joshuatree]

Good to finally have the overhang from the options out of the way and the only way anyone gets in the stock is buying the actual stock. The volume traded is much higher than when the options were still active, so it seems a lot of buyers waited till the options expired before getting in.

Yes I was awaiting possible weakness with the overhang before buying,too slow.Welldone Rawz.