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August 23, 2015
Issue Highlights

Issue Period
24/8/15-26/8/15
Price Band
Rs. 147-155
Issue Size(shares)
3.87 crore shares #
Issue Size (Rs.)
600 crore
Issue Type
100% Book Built
Face Value
Rs. 10
Listing
BSE,NSE
Industry
Container Industry
Registrar
Link Intime India Pvt. Ltd.
Minimum Bid Quantity
95 shares
Maximum Retail Subscription
Rs. 1,91,425 (13 Lots)
# derived figure

Issue Details


Offer For Sale:  58 lakh equity shares/ Rs. 90 crore
Fresh Issue:  3.29 crore equity shares/ Rs. 510 crore
Equity Shares Outstanding Prior To The Issue: 10,97,04,798 equity shares
Equity Shares Outstanding After The Issue: 14,26,08,024 equity shares #
#derived figure

Objects of the Issue
Capacity expansion at Somathane CFS
Rs. 115 crore
Development of the non-notified areas of CFSs
Rs. 54 crore
For the establishment of a logistics park at Valasad
Rs. 315 crore

Industry Profile

Container Industry primarily provides 2 facilities, CFS (Container Freight Station) and ICD (Inland Container Depot).  Both these CFSs and ICDs provide a wide range of services like custom clearance, handling & temporary storage of laden and empty containers (imported or to be exported).
 A CFS is located near a dock port whereas an ICD is situated in the hinterlands. For FY 14, container industry in India was worth Rs. 45 billion (CFS: Rs. 30 billion, ICD Rs. 15 billion).

Company Profile

Navkar Corporation Ltd. is a CFS operator in India with 3 CFSs with the aggregate installed handling capacity of  3,10,000 TEU (Twenty-Foot Equivalent Unit) per annum to its credit-Ajivali CFS 1&2 and Somathane CFS –which are strategically located in the proximity of the JN port. Besides this, Navkar Corp also owns and operates 516 trailers plying between CFSs and the JN port by road.
Navkar Corp also offers the temperature control and hazardous cargo storage and handling services. Its warehouses spread over an aggregate area of around 5,00,000 sq. ft.
A few big shipping line players like United Arab Shipping Agency, NYK line Ltd., Hyundai Merchant Marine, Evergreen Shipping etc avails the company’s services.
Its CFSs are located in close proximity to the JN port in Panvwel and it is worth noting that JN port handles around 56 % of the total container traffic across all the major ports of India.
Navkar Corp Ltd. proposes to establish  a fully integrated logistics park and an adjacent ICD at Umergaon at the Valsad district, Gujarat thus creating a one-stop solution for importers and exporters.

Risks & Threats

(1)    Company’s operations significantly depend on the flow of container traffic through JN Port and any diversion of this traffic to newer ports of the west coast shall adversely impact the revenue of this company
(2)    Navkar’s  Corp’s business infrastructure and operations are concentrated around Panvel and any major geological, economical or other upheaval  shall not auger good for the company
(3)    Growth of the container industry depends on container traffic and the global traffic has been modestly growing at a CAGR  of just 3% for last two years
(4)    The delay in the implementation of the GST (which is supposed to come in effect from April 1,2016) is supposed to affect its revenue growth negatively
(5)    In case of the application of GAAR provisions on the company, the impact on viability and growth of the company would be a severely negative one
(6)    Income tax exemptions u/s 80-IA (4) (1) shall conclude in FY 17 and FY 19 for its two and one CFS respectively
(7)    Being a player of the highly capital intensive industry, high interest regime will be unfavorable for its growth  prospects

Financial Profile #

Parameter
FY 15
PEG (Profit, trailing 4 years)
1.4
Net Profit Margin (%)
22.4
Return on Capital Employed (%)
8.8
Return on Equity (%)
15.8
Total Liability to Net worth
1.1
Price to Book Value
4.4
Operating Cash to Net Profit
.9
TIE (Times Interest Earned)
3.1
AR collection Period (Days)
85
EV/EBITDA
22.6
M-Cap to Sales
6.7
Current Ratio
.9
Profit CAGR (%)
21.8 %

# using upper end of the price-band at post issue equity


Comparison with the Peers #
PEG
NPM (%)
ROCE(%)
ROE(%)
Navkar
1.4
22.4
8.8
15.8
Gati
1.45
2.5
12.9
7.6
GDL
1.91
16.9
23.5
20.3
Container corporation
NM
17.1
17.5
14
Allcargo Logistics
4.07
4.26
15.6
12.6



# moneycontrol data

Inference

The 'comparison with the peers' data shows that valuations of Navkar are not much cheaper than the industry ace GDL. Besides return ratios, GDL is a better company with reliable promoters and better operational expertise. As per the investment perspective in the mind, investing in GDL instead seems as a better and secure choice. The revenue for the company comes from JN port and this dependence on a single source makes it vulnerable to uncertainties.
But considering the present government’s thrust on improving the Indian transportation environment and under this initiative port based SEZs, port connecting highway project at JN port and DFC(Dedicated Freight Corridor) between Mumbai and Delhi  etc will be set up and the same is supposed to boost Navkar’s volume growth.
Clearly, Nvakar is not a short term bet!
Listing gains will depend on the overall market conditions and the underlying euphoria.
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August 22, 2015

The new “E-Diesel” supported by Audi is a good alternative energy technology, but it is not as good as magnetic motors and other “free energy” technologies. These free energy technologies are often frowned upon by the conventional energy industry because they are too good for the public. In other words, the conventional energy industry can not make a good profit by allowing car manufacturers to produce cars that run on “free energy” technology.
(News.NationalGeographic.com) As research into clean cars expands, Audi unveils a synthetic diesel that’s made with water, air and carbon dioxide.
Cars that run on a synthetic fuel, made from water and air, represent the cutting-edge of innovation now sweeping the auto industry. In a German factory, Audi is making “e-diesel” that uses rather than emits carbon dioxide.

audi-car-engine-eco-friendly-liqid-fuel-green-fuel

The carbon-neutral fuel contains no sulfur or fossil oil. If it catches on and is produced for a mass market, it could make internal combustion engines much cleaner in the future.
“Synthetic diesel using CO2 is a huge success,” says Germany’s Federal Minister of Education and Research Johanna Wanka, who showed her support last week by putting the first five liters (1.3 gallons) into her work car, an Audi A8.
E-diesel is the latest in a slew of breakthroughs aimed at building cleaner cars via carbon-neutral fuels or extended-range batteries. Earlier this month, in research partly funded by Shell*, Virginia Tech unveiled a much more affordable way to produce hydrogen fuel by using discarded corn cobs, stalks, and husks.


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August 22, 2015
lady-pouring-water-liquid fuel to-audi-car-to-a-person

The new “E-Diesel” supported by Audi is a good alternative energy technology, but it is not as good as magnetic motors and other “free energy” technologies. These free energy technologies are often frown upon by the conventional energy industry, because they are too good for the public. In other words, the conventional energy industry can not make good profit by allowing car manufacturers to produce cars that run on “free energy” technology.
(News.NationalGeographic.com) As research into clean cars expands, Audi unveils a synthetic diesel that’s made with water, air and carbon dioxide.
Cars that run on a synthetic fuel, made from water and air, represent the cutting-edge of innovation now sweeping the auto industry. In a German factory, Audi is making “e-diesel” that uses  rather than emits carbon dioxide.
audi-car-engine-eco-friendly-liqid-fuel-green-fuel
The carbon-neutral fuel contains no sulfur or fossil oil. If it catches on and is produced for a mass market, it could make internal combustion engines much cleaner in the future.
“Synthetic diesel using CO2 is a huge success,” says Germany’s Federal Minister of Education and Research Johanna Wanka, who showed her support last week by putting the first five liters (1.3 gallons) into her work car, an Audi A8.
E-diesel is the latest in a slew of breakthroughs aimed at building cleaner cars via carbon-neutral fuels or extended-range batteries. Earlier this month, in research partly funded by Shell*, Virginia Tech unveiled a much more affordable way to produce hydrogen fuel by using discarded corn cobs, stalks and husks.

via -the-open-mind
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August 22, 2015
object -spinning- in -zero -gravity-handle-at-space
If ever there was a symbol for what astronauts put themselves through in the name of science, it would be this crazy spinning T-handle. Up there in the zero-gravity environment of the International Space Station (ISS), everything happens according to a completely different set of rules, and the things you take for granted on Earth suddenly no longer apply. For example, in zero gravity, your sweat doesn't evaporate, there's a constant concern that your eyeballs might be going flat, andcarbonated beverages hurt because it's physically impossible to burp out all that extra gas. But as that T-handle so elegantly demonstrates, we can learn so much from what's going on.
Found recently by Digg, the video above shows an astronaut spinning a T-handle in the SpaceDRUMS (Space Dynamically Responding Ultrasonic Matrix System) facility aboard the ISS, and as they so delicately point out, "You thought things in space pretty much follow the rule 'go in one direction forever' right? Well it turns out you are wrong and not a physicist."
For those of us who aren't physicists, what's going on here?
Henry Reich from MinutePhysics actually discusses it in the video below, when he was lucky enough to ask astronaut Scott Kelly to demonstrate it using a Leatherman tool. He calls it the "instability of rotation around the intermediate axis of an object," and explains that if you rotate an object around its largest and smallest axes, it will spin in a stable, consistent manner.
But if you rotate it on an intermediate axis (watch the video below to see what he means), the rotation is unstable. The object will flip back and forth in orientation as it spins, because it's trying to spin itself on the more stable large or small axes instead. The only difference between how this works on Earth and in zero gravity is that in space, you can actually see the results of this instability without the help of slow-motion footage.
Watch the footage of Scott Kelly trying it out for himself, it's like a crazy, uncoordinated dance, but there's a certain grace and dignity to it too
via - sciencealert
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August 21, 2015
There are many different techniques used for making financiers, but as usual, I’ve chosen the easiest one. I would have been happy to try those other more complicated versions, but fortunately, I enjoyed this one so much, there’s no need.

I mention in the video that these are called “financiers” because they’re rich, and look like gold bars (if you use the traditional rectangular molds). Well, apparently that’s not quite right.

Word on the “rue” is that there was a bakery next to the Paris stock exchange that made these small almond cakes so bankers could enjoy them on the way to work, without getting their fingers dirty. I assume this is accurate, since I read it in the YouTube comments.

Anyway, not only is this an easy recipe, but it works beautifully with pretty much any summer fruit. Berries are popular, as are other stone fruits. Just don’t use too much. It’s merely a garnish, and adding too much could effect the texture and cooking time. I hope you give these delicious peach financiers a try soon. Enjoy!


Ingredients for 12 small cakes:
3 egg whites
1/2 cup white sugar
1/8 teaspoon salt
1/4 teaspoon vanilla extract
1/2 cup almond meal (or finely ground almonds)
3 tablespoons flour
3 oz unsalted butter (6 tablespoons), toasted to a golden-brown
12 small sliced of peach
- I used mini-muffin pans, so you'll have to adjust your time if you used regular muffin tins, or other molds.
- Bake for 5 minutes at 400 F., then top with fruit, and continue baking until browned, about 10-12 minutes.
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August 21, 2015

ZenFone 2 Deluxe: See the crystal miracle

ZenFone 2 Deluxe (ZE551ML) delivers powerful all-round performance and beauty in abundance, with a gorgeous new multifaceted polygonal finish accentuating the signature ZenFone 2 Ergonomic Arc design. ZenFone 2 Deluxe features a 5.5-inch Full HD IPS display, 13MP/5MP PixelMaster cameras, 2.3GHz 64-bit Intel® Atom™ processor with 4GB RAM and 4G/LTE connectivity. ZenFone 2 Deluxe also features ASUS BoostMaster fast-charge technology for 60% capacity in just 39 minutes. As with all other ZenFone 2 models, ZenFone 2 Deluxe includes the latest ASUS ZenUI — the world’s first fully-customizable mobile interface — and Trend Micro™ security software for safe web browsing.

ZenFone 2 Laser: See at the speed of light

ZenFone 2 Laser models all benefit from a powerful 13MP PixelMaster camera with an f/2.0 wide-aperture lens to capture stunning, high-resolution photos with zero shutter lag — augmented by laser auto-focus technology that empowers users to capture perfect clarity in just 0.3 seconds. Available in 5-inch (ZE500KL), 5.5-inch (ZE550KL) and 6.0-inch (ZE601KL) versions with up to 1920 x 1080-pixel Full HD resolution, ZenFone 2 Laser also incorporates the latest and toughest Corning Gorilla Glass 4. It boasts an up to octa-core 64-bit Qualcomm® Snapdragon™ processor with up to 3GB of fast memory for unwavering performance.
ZenFone Selfie: See the perfect you
ZenFone Selfie (ZD551KL) is a trailblazing fusion of fashion, technology and craftsmanship that lets users see their perfect selves, with dual 13MP PixelMaster cameras, dual-color, dual-LED Real Tone flash both front and rear, plus laser auto-focus for ultra-fast shots with complete clarity.
ZenFone Selfie’s Ergonomic Arc design and intuitive rear key makes capturing selfies easier than ever, with live digital cosmetics to apply some magical glamor — all enjoyed instantly on the stunning 5.5-in Full HD display.
ZenFone Selfie’s exceptional front-facing PixelMaster camera has a huge 13MP resolution and an f/2.2-aperture, 88-degree wide-angle lens to capture more of every smile. The unique Selfie Panorama mode enables selfies with an outlook of up to 140 degrees, so everything and everyone becomes part of the shot.
ZenFone Selfie’s rear camera is just as advanced, with a large f/2.0 aperture lens for superior low-light shots. Both cameras are engineered with five-prism Largan lenses and top-quality Toshiba sensors, and include dual-LED Real Tone flash technology for perfect illumination in any lighting conditions. ZenFone Selfie also delivers superb macro photography that works on subjects as close as 6cm, plus rear laser auto-focus to compose shots in the blink of an eye.

ZenFone Max: See for longer

The highlight of the new ZenFone Max (ZC550KL) is its incredibly-long-lasting high-capacity 5000mAh lithium-polymer battery that gives users an unprecedented amount of mobile freedom.
ZenFone Max has a bright and clear 5.5-inch IPS display with wide viewing angles, protected by the latest Corning® Gorilla® Glass 4 for unrivalled scratch-resistance, strength and everyday durability. At the heart of ZenFone Max is a powerful yet power-efficient 64-bit Qualcomm Snapdragon 410 processor with up to 2GB of RAM. ZenFone Max features a 13MP/5MP PixelMaster cameras with a wide f/2.0 aperture, and the rear camera also boasts laser auto-focus for sharp, near-instant shots.

ASUS ZenPad 7.0 (Z370) and 8.0 (Z380)

ASUS ZenPad features clean lines, embossed-leather patterning, and premium styling influenced by fashion accessories such as clutch bags and wallets for a luxurious appearance unique among mobile devices. Ergonomic rounded edges make ZenPad comfortable to hold and carry, and its polished metallic frame adds a bold visual accent.
ZenPad is the world's first tablet to feature an innovative interchangeable cover design that lets users easily customize their tablet with functional back covers. These can provide extra features and additional color options, while perfectly matching ZenPad’s looks. Zen Clutch is a sophisticated carrying and protection solution for ZenPad; Zen Case lets users outfit ZenPad in their choice of five sleek or vivid colors and features a fine leather texture; and Audio Cover brings immersive 5.1-channel surround sound to a tablet for the first time. Power Case extends ZenPad’s battery life, giving users up to 16 hours of usage to easily get them through their day or even the longest international flights.
ASUS ZenPad features the exclusive ASUS VisualMaster suite of visual enhancement technologies — including ASUS Tru2Life and ASUS TruVivid — that brings advanced image-processing found on high-end TVs to a tablet for the first time and provides comprehensive visual optimization. ASUS Tru2Life analyzes each pixel in an image before it is displayed and performs an intelligent contrast and sharpness adjustments to boost dynamic range, revealing even the smallest details to ensure an incredibly realistic viewing experience. ASUS TruVivid improves screen clarity, brightness, and touch responsiveness by transforming the conventional six-layer display design into a two-layer, fully-laminated design that eliminates the air gap, resulting in higher optical transparency for brilliant color and improved brightness.
ZenPad is the world's first tablet to integrate DTS-HD Premium Sound, delivering the ultimate sound experience. DTS-HD Premium Sound transforms stereo audio into virtual surround sound so users can enjoy incredible, theater-quality audio right on ZenPad.

ZenPad is available with LTE/3G connectivity and phone functionality or as a Wi-Fi-only model.
To pre-order latest ASUS mobile phone follow below link
http://www.flipkart.com/mobiles/~new-range-of-asus-zenfone/pr?sid=tyy%2C4io

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August 21, 2015
asus-truvivid-technology-mobile-screens-lamination-shown

ZenFone 2 Deluxe: See the crystal miracle


ZenFone 2 Deluxe (ZE551ML) delivers powerful all-round performance and beauty in
abundance, with a gorgeous new multifaceted polygonal finish accentuating the signature ZenFone 2 Ergonomic Arc design. ZenFone 2 Deluxe features a 5.5-inch Full HD IPS display, 13MP/5MP PixelMaster cameras, 2.3GHz 64-bit Intel® Atom™ processor with 4GB RAM and 4G/LTE connectivity. ZenFone 2 Deluxe also features ASUS BoostMaster fast-charge technology for 60% capacity in just 39 minutes. As with all other ZenFone 2 models, ZenFone 2 Deluxe includes the latest ASUS ZenUI — the world’s first fully-customizable mobile interface — and Trend Micro™ security software for safe web browsing.

ZenFone 2 Laser: See at the speed of light

ZenFone 2 Laser models all benefit from a powerful 13MP PixelMaster camera with an f/2.0
wide-aperture lens to capture stunning, high-resolution photos with zero shutter lag — augmented by laser auto-focus technology that empowers users to capture perfect clarity in just 0.3 seconds. Available in 5-inch (ZE500KL), 5.5-inch (ZE550KL) and 6.0-inch (ZE601KL) versions with up to 1920 x 1080-pixel Full HD resolution, ZenFone 2 Laser also incorporates the latest and toughest Corning Gorilla Glass 4. It boasts an up to octa-core 64-bit Qualcomm® Snapdragon™ processor with up to 3GB of fast memory for unwavering performance.

ZenFone Selfie: See the perfect you

ZenFone Selfie (ZD551KL) is a trailblazing fusion of fashion, technology and craftsmanship that lets users see their perfect selves, with dual 13MP PixelMaster cameras, dual-color, dual-LED Real Tone flash both front and rear, plus laser auto-focus for ultra-fast shots with
ZenFone -Selfie- perfect-selfie-four-people
complete clarity.
ZenFone Selfie’s Ergonomic Arc design and intuitive rear key makes capturing selfies easier than ever, with live digital cosmetics to apply some magical glamor — all enjoyed instantly on the stunning 5.5-in Full HD display.
ZenFone Selfie’s exceptional front-facing PixelMaster camera has a huge 13MP resolution and an f/2.2-aperture, 88-degree wide-angle lens to capture more of every smile. The unique Selfie Panorama mode enables selfies with an outlook of up to 140 degrees, so everything and everyone becomes part of the shot.
ZenFone Selfie’s rear camera is just as advanced, with a large f/2.0 aperture lens for superior low-light shots. Both cameras are engineered with five-prism Largan lenses and top-quality Toshiba sensors, and include dual-LED Real Tone flash technology for perfect illumination in any lighting conditions. ZenFone Selfie also delivers superb macro photography that works on subjects as close as 6cm, plus rear laser auto-focus to compose shots in the blink of an eye.

ZenFone Max: See for longer

The highlight of the new ZenFone Max (ZC550KL) is its incredibly-long-lasting high-capacity 5000mAh lithium-polymer battery that gives users an unprecedented amount of mobile
asus-ZenFone- Max-four-models-different-covers
freedom.
ZenFone Max has a bright and clear 5.5-inch IPS display with wide viewing angles, protected by the latest Corning® Gorilla® Glass 4 for unrivalled scratch-resistance, strength and everyday durability. At the heart of ZenFone Max is a powerful yet power-efficient 64-bit Qualcomm Snapdragon 410 processor with up to 2GB of RAM. ZenFone Max features a 13MP/5MP PixelMaster cameras with a wide f/2.0 aperture, and the rear camera also boasts laser auto-focus for sharp, near-instant shots.

ASUS ZenPad 7.0 (Z370) and 8.0 (Z380)

ZenPad is the world's first tablet to feature an innovative interchangeable cover design that lets users easily customize their tablet with functional back covers. These can provide extra features and additional color options, while perfectly matching ZenPad’s looks. Zen Clutch is a sophisticated carrying and protection solution for ZenPad; Zen Case lets users outfit ZenPad in their choice of five sleek or vivid colors and features a fine leather texture; and Audio Cover brings immersive 5.1-channel surround sound to a tablet for the first time. Power Case extends ZenPad’s battery life, giving users up to 16 hours of usage to easily get them through their day or even the longest international flights.
ASUS- ZenPad- 8.0-Z380-white-model-looks-awesome
ASUS ZenPad features the exclusive ASUS VisualMaster suite of visual enhancement technologies — including ASUS Tru2Life and ASUS TruVivid — that brings advanced image-processing found on high-end TVs to a tablet for the first time and provides comprehensive visual optimization. ASUS Tru2Life analyzes each pixel in an image before it is displayed and performs an intelligent contrast and sharpness adjustments to boost dynamic range, revealing even the smallest details to ensure an incredibly realistic viewing experience. ASUS TruVivid improves screen clarity, brightness, and touch responsiveness by transforming the conventional six-layer display design into a two-layer, fully-laminated design that eliminates the air gap, resulting in higher optical transparency for brilliant color and improved brightness.
ZenPad is the world's first tablet to integrate DTS-HD Premium Sound, delivering the ultimate sound experience. DTS-HD Premium Sound transforms stereo audio into virtual surround sound so users can enjoy incredible, theater-quality audio right on ZenPad.

ZenPad is available with LTE/3G connectivity and phone functionality or as a Wi-Fi-only model.
Read more »
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