cash flows

Caplin Point: Sales and profits looking great…but where are the cash flows

Dear Sir, Caplin Point is engaged in the business of Pharmaceuticals – producing and marketing wide range of generic formulations and branded products in overseas markets. The company primarily focuses on the emerging markets of Latin America,Β Caribbean, Francophone and Southern Africa and is today one of the leading suppliers of Pharmaceuticals in these regions. Back in the day, i.e. around 6-7 years back, we used to like the numbers of the company and considered it worthy of investment; however, for…

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Beware: Safari Industries is finding it tough to convert profits to cash flows

Dear Sir, Safari Industries is a relatively well known name in the space of Luggage, travel bags and accessories. The company is listed on the exchanges (NSE – SAFARI) and has been quite a wealth creator over the last 6 years appreciating from 60-65 odd levels in Jan’14 to around current levels of 600-630 in Jan’20. That’s around 45% CAGR. Recently, we came across the company while running through one of the screens and the first thing that struck us…

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