Any current/future new fundraising through debt or equity?

The company has recently announced a fundraise through preferential allotment (equity). The raised funds are planned for deployment in expanding the temple network, upgrading technology (website and mobile apps), marketing, increasing manpower, and potential small acquisitions in the digital marketing space. There is no explicit mention of any new or upcoming fundraising through debt. Focus is on deploying current raised equity funds for growth and scaling operations rather than seeking fresh debt or equity immediately.

Any current/future capex/capital investment/strategic investment?

The company plans several capital deployments as part of their growth strategy: - Expanding the temple network to 5,000 temples. - Upgrading technology including website and developing Android and iOS applications. - Creating content and increasing marketing efforts, especially through social media. - Increasing manpower to support growth. - Pursuing meaningful small acquisitions in the digital marketing space. - Creating an omnichannel presence with plans to set up kiosks at major airports across India. Additionally, they plan to relaunch an ePuja store (by Q1 of next financial ye

Future growth expectations in sales/revenue/volumes?

Astrology segment expected to contribute 30-35% of total revenue in next 2-3 quarters (Page 20). Repeat customer ratio is high at 50%, with 50% clients ordering yearly or quarterly, aiding revenue stability (Page 21). Plans to expand temple network beyond current 3,600 temples towards 5,000+ to boost order flow (Pages 6-7, 19). Marketing spend projected to increase 3-4 times, targeting 30-35% of revenue, enhancing customer acquisition and growth (Page 19). Revival of religious tourism tie-ups like with MakeMyTrip aims to increase volume and revenue via VIP temple guided tours launching by end

Current/ Expected Orderbook/ Pending Orders?

Currently, the company performs approximately 40 to 50 pujas daily. During the COVID lockdown, the run rate was higher, close to 9,500 pujas, indicating a temporary spike. In the recent quarter, about 4,000 pujas were booked, showing growth compared to the previous quarter's approximately 3,400 pujas. Orders come both from within India (75%) and internationally (25%), with major markets abroad including the US, UK, Canada, Australia, Singapore, and UAE. Around 50% of clients are repeat customers, who place orders yearly or quarterly depending on the festival or need, contributing to a

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Epuja SpiritechQ3 FY24Finance

Epuja Spiritech Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1.36Market Cap: ₹16 CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Astrology segment expected to contribute 30-35% of total revenue in next 2-3 quarters (Page 20).
→Repeat customer ratio is high at 50%, with 50% clients ordering yearly or quarterly, aiding revenue stability (Page 21).
→Plans to expand temple network beyond current 3,600 temples towards 5,000+ to boost order flow (Pages 6-7, 19).
→Marketing spend projected to increase 3-4 times, targeting 30-35% of revenue, enhancing customer acquisition and growth (Page 19).
→Revival of religious tourism tie-ups like with MakeMyTrip aims to increase volume and revenue via VIP temple guided tours launching by end of Q4 FY24 (Pages 9, 11).
→Launch of ePuja store planned by Q1 FY25 selling puja items, providing cross-selling opportunities (Page 14).
→Large corporate tie-ups in progress to scale volume through bundled pujas (Page 14).
→Overall, business aims to leverage cross-selling, expanded offerings, and deeper temple network to grow sales and volumes steadily.

Margin guidance

Category 3

- Astronomy segment expected to contribute 30-35% of total revenue within next 2-3 quarters, up from a minimal base currently (page 20). - Astrology anticipated to drive cross-selling and upselling for ePuja segment, potentially boosting revenue streams (page 20). - Marketing expenses planned to increase 3-4 times phased to fuel growth, aiming to raise marketing spend to 30-35% of revenue from current 10-12% (page 19). - Expansion into new verticals like temple tourism, astrology services, and ePuja product sales expected to contribute to top-line growth (pages 14-20). - Network expansion of temples from 3,600 to targeted 5,000+ temples foreseen to increase order volume (page 19). - Strategic tie-ups (e.g., corporate & broker partnerships) forecast to scale volumes and customer acquisition, thereby improving profitability (page 14). - Repeat customer ratio at 50% supports high customer lifetime value, lowering acquisition costs and enhancing margins (page 20-21). Overall, growth driven by diversification, network expansion, and increased marketing spend is expected to improve earnings and profitability in the near term.

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Fundraise plans

Yes

→The company has recently announced a fundraise through preferential allotment (equity).
→The raised funds are planned for deployment in expanding the temple network, upgrading technology (website and mobile apps), marketing, increasing manpower, and potential small acquisitions in the digital marketing space.
→There is no explicit mention of any new or upcoming fundraising through debt.
→Focus is on deploying current raised equity funds for growth and scaling operations rather than seeking fresh debt or equity immediately.

Order book

Yes

→Currently, the company performs approximately 40 to 50 pujas daily.
→During the COVID lockdown, the run rate was higher, close to 9,500 pujas, indicating a temporary spike.
→In the recent quarter, about 4,000 pujas were booked, showing growth compared to the previous quarter's approximately 3,400 pujas.
→Orders come both from within India (75%) and internationally (25%), with major markets abroad including the US, UK, Canada, Australia, Singapore, and UAE.
→Around 50% of clients are repeat customers, who place orders yearly or quarterly depending on the festival or need, contributing to a steady flow of orders.
→The company is working on expanding the temple network, which should increase capacity and order volume.
→Corporate tie-ups and collaborations (e.g., with brokers, travel websites) are expected to contribute to order growth going forward.

Capex plans

Yes

→The company plans several capital deployments as part of their growth strategy:
→ - Expanding the temple network to 5,000 temples.
→ - Upgrading technology including website and developing Android and iOS applications.
→ - Creating content and increasing marketing efforts, especially through social media.
→ - Increasing manpower to support growth.
→ - Pursuing meaningful small acquisitions in the digital marketing space.
→ - Creating an omnichannel presence with plans to set up kiosks at major airports across India.
→Additionally, they plan to relaunch an ePuja store (by Q1 of next financial year) selling Puja articles like Rudraksha, gemstones, Yantras, incense sticks, etc.
→Marketing spend is expected to increase 3 to 4 times from current levels, targeting 30-35% of revenue.
→Future launch plans include a "Pandit at Home" service with thorough background checks, aiming for Q2 of the next financial year.

How does Epuja Spiritech rank vs peers in Finance?

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