2021.10.22 15:36 Ramsessone Got a switch and thinking of buying ssb
2021.10.22 15:36 Flashy_Historian2245 If you’ve never been to Arnold arboretum, I highly recommend going especially now in the peak of fall 🍂 IG: escapethroughaesthetics
2021.10.22 15:36 More-Cattle5381 Doubts about Hades and Persephone's relationship.
I recently came to the game's epilogue and got all of its achievements. One of the things I loved most about the game's history was the love relationship between Hades and Persephone. They genuinely love each other and there is no evidence that they betrayed each other. however, in real myths, Hades betrayed Persephone with two different nymphs and Persephone possibly betrayed Hades with Adonis. I would like to know everyone's opinion on this. It is a pity that there is no reference to these nymphs and adonis. Personally, I believe there was no betrayal. We did not see Hades with any lover during Persephone's absence and as for Persephone, according to the true myth, Aphrodite delivered a baby Adonis to Persephone for fear that a jealous Ares would kill the boy. But, in this game, we discover that Ares and Aphrodite are not lovers and, above all, the gods of Olympus thought that Persephone was dead. In other words, there was no way Aphrodite could hand the boy over to Persephone to take care of. Anyway, SuperGiant made Hades and Persephone a beautiful couple who genuinely love each other, but even so, what do you think was the story of the two nymphs and the story of adonis in this gaming universe?
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2021.10.22 15:36 TTV_psycho-_- Apla to afhnw edw😂
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2021.10.22 15:36 5H1N0B1-2O Hmmm, OK
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2021.10.22 15:36 ArthurMorganSaddler Kaboom BOOM
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2021.10.22 15:36 tolstoyzz DD-Parag Milk Foods Limited
Parag is an Indian dairy company that focuses mostly on value added products unlike its competitors. The company has been investing in building its brand and distribution channel which has placed itself in a good spot to take advantage of the structural growth in the product segment. The stock is trading at a discount to its peers despite having better growth prospects.
Industry dynamics: India is the #1 dairy producer globally, but the industry is highly fragmented and mostly unorganized. India produces about 190mn tons of milk per year and is around $115bn industry. Of this the organized sector is just about 18-20% since the rest is either self-consumed or sold in the unorganized market. Within the organized space, dairy cooperatives control about 50% of the market implying the remaining available market for the private players is about $11bn. Within the dairy industry sales, about two-thirds of the volume is fresh liquid milk (not UHT) and the remaining is value-added portfolio (VAP). VAP products can be further split into Traditional and Emerging. Traditional VAP products include ghee (clarified butter), paneer (similar to cottage cheese) and curds which form about 32% of the volume share, and emerging products like cheese, whey, UHT and flavored milk forms the remaining ~2%.
India has a big vegetarian population that is dependent on dairy products for their primary source of protein. Despite this, the per capital consumption of dairy is much lower compared to other developed countries (Indians consume about 105 liters per year compared to about 280 liters per year in the US and EU, and about 165 liters in Brazil). There are several structural changes that are happening within the dairy industry in India: i) shift from unorganized to the organized sector, ii) increase in VAP product consumption. This is because the per capital income is increasing and consumers are focused on convenience and quality. Industry experts (IMARC and Euromonitor) believe that the organized dairy market can grow at 20% CAGR for the next few years. Within the dairy, traditional VAP segment can grow at ~20% and Emerging VAP can grow at ~25% CAGR.
From a competitive dynamic perspective, the private players operate on a regional basis and there are no real pan-India players, except for Amul (cooperative organization; not listed). Private players mostly operate close to their milk procurement region because the dairy products offered have low shelf life and transportation can be expensive. Companies like Parag are increasing their VAP basket which can make them a pan-India operator. In India, the fresh milk business has very high ROIC – margins are very thin but the capex required is low and asset turnover is very high, which gives about 40% returns. On the other hand, VAP segment have higher margins but lower returns since they are capital intensive and have lower asset turnover. This is one of reason why the private players have not made a push into the VAP segment. Parag is looking to play the long game by making the initial investments and trying to solidify its presence in the VAP segment, so that it can benefit from the long-term structural growth of the segment.
Quick Company overview: Parag has been operating in the industry for over 25years. Company currently processes about 1.5mn liters of milk on a daily basis. About 68% of revenues come from VAP, 20% from fresh milk and 13% from skimmed milk powder. Company has 3 processing plants (including 1 plant in Sonipat in north India which it acquired from Danone and has just started operations). Retail (b2c) and institutional (b2b) sales split is about 67/33%. Cheese is sold to institutional clients like Yum brands and Domino’s Pizza. Whey powder is mostly sold to institutional clients like Nestle India and UHT Beverage factory. Company claims to be procuring 95% of the milk directly from the farmers through its integrated supply chain over the years.
Company has the one of best value-added product portfolio in the Indian dairy industry.Company has taken bold steps and invested substantial capital to develop the VAP basket in India over the last decade.
Started cheese in 2008, UHT and premium milk in 2010/11, B2B whey protein in 2014, juice drink and consumer whey protein in 2017.
Company has successfully built strong brands like Gowardhan (fresh milk, ghee, paneer), Go (cheese products, UHT milk), Pride Of Cows (premium milk), and Avvatar (Whey powder; recent initiation) which are well recognized and some sell at a premium to competition (Cheese and Ghee sell at about 5% premium to major peers).
Company is now #2 in Cheese with ~35% market share; contributes to 20-22% to its total revenues. Ghee (clarified butter) contributes another 20-22%; here the company has been able to build pan-India premium brand Company has a dairy farm of 2000+ Holstein cows that offer premium milk which is sold at 2x the normal milk price. While the product contributes to less than 3% of revenues, the company has been able to build a brand around this Potential opportunity for growth is huge. The company should comfortably be able to grow its topline at 15%+ CAGR for the next several years.
The structural shift from unorganized to organized dairy and shift from fresh milk to VAP products will continue, increasing the demand for dairy products for organized players like Parag. Additionally, increasing per capital income, urbanization, and consumer preference for better quality and convenience will drive segment growth. Emerging VAP products like Cheese and Whey powder are expected to see fastest growth rate. Currently less than 1% of the milk procured is used to cheese given the low penetration. Similarly, retail whey powder segment is expected to grow at 25-30% cagr due to the low base effect. Company had been supplying whey mostly to institutional clients until last year; In 2017 Company launched whey powder for the retail segment. Consumer whey commands about 10x more realization and margins are around 45% (highest in the dairy products). Currently whey contributes about 3% of total revenue (almost 100% from B2B) but is expected to increase 3-4x in next 3-4 years mainly due to the consumer whey growth. This will boost topline as well as margins. Valuation is attractive and trading below peers – I see upside potential from rerating of the stock.
The stock isn’t without any risks. I cannot give the corporate governance a clean chit given the limited trading history. When investing in Indian stocks, one needs to be overly cautious about the promoters. Given the limited trading history one cannot with certainty say how the promoters will treat the minority shareholders. The promoters previously had some income tax violation cases against them. Currently the promoters own 40.8% of the shares outstanding.
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2021.10.22 15:36 toppatmember Was listening to the soundtrack recently
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2021.10.22 15:36 Delicious-Arugula647 Lmfaoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
2021.10.22 15:36 v1brate1h1gher ☕️🌎
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2021.10.22 15:36 apsychosfilm NFT GIVEAWAY Retweet on @apsychofilm on twitter to be entered
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2021.10.22 15:36 dragonskulljj What exactly are Funko Pins?
2021.10.22 15:36 Kamisama76 First time picking out shrooms :)
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2021.10.22 15:36 Fun_Lab3769 Ok so I bought crysis 1 remastered but MAN the controls are so bad like i had to refund it so is 2 and good?
2021.10.22 15:36 Electrical-Divide482 Recreational marijuana
2021.10.22 15:36 Space_Butterfly33 Trading frost furries for mid teir - high teir legends
2021.10.22 15:36 TorvundArt Favorite bone in my collection. Deer bone with some sort of cancer and/or trauma
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2021.10.22 15:36 squizard183 Anorexia and Body Dysmorphia; a Self Portrait
2021.10.22 15:36 RealAzznee Pasakyta padaryta.
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2021.10.22 15:36 DreadBob50
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2021.10.22 15:36 pandahavenart [OC] Gelatinous Cube Dice Monster
2021.10.22 15:36 BebopDC A killer in the making
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2021.10.22 15:36 CryStrict5004 Does anyone have the original image of the 1984 calendar meme ?
The meme where someone turns a page of a calendar and it's written 1984 as the date. There's also a woman at a table asking something.
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2021.10.22 15:36 StonksStockHIOK 🐸PROGGERS THIS IS JUST THE BEGINNING!
After all the pump and dump charade of trump's memes stocks are over, people will take profit and move it to PROG(+other ss plays don't hate on me)! We probably saw a decline due to shorts doing their jobs, people selling and FOMOing into DWAC + PHUN, actually profiting and pumping more into PROG soon so imo i would say DWAC and PHUN was a good thing for PROG as people have higher capital to buy PROG from the dwac phun gains. FTD's, partnership conference next thursday-friday, high ass ctb and short interest, 99.89 utilization what could go wrong
WAIT TILL MONDAY BOIIIS LFG PROGGERS!🐸 READY FOR LIFT OFF?🚀
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2021.10.22 15:36 NoTailgateNoProblem Refurbish, replace, or burn through this season and worry about it next year?
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