Latest news with #PTL
Yahoo
17-05-2025
- Business
- Yahoo
Delhivery Ltd (BOM:543529) Q4 2025 Earnings Call Highlights: A Profitable Turnaround and ...
Q4 Revenue: INR2,192 crore, up 6% YoY, sequential decline of 8% from Q3. Q4 EBITDA Margin: 5.4%, an expansion of 320 basis points YoY and 110 basis points QoQ. Q4 PAT: INR73 crore, a PAT margin of 3.1%, compared to a loss of INR69 crore in the same quarter last year. Full Year Revenue from Services: INR8,932 crore, nearly 10% growth YoY. Full Year PAT: INR162 crore, 1.7% margin, compared to a PAT loss of INR249 crore in fiscal '24. Cash and Cash Equivalents: INR5,493 crore on the balance sheet. Express Parcel Business: 177 million packages delivered in Q4, broadly flat YoY. PTL Business Revenue: INR517 crore in Q4, 24% growth YoY. Full Year PTL Revenue: INR1,889 crore, 25% growth YoY. Supply-Chain Services Revenue: INR230 crore in Q4, largely flat YoY and QoQ. Truckload Services Revenue: INR151 crore in Q4, broadly flat from Q3. CapEx Intensity: Dropped to 5.2% of revenue in fiscal '25. Warning! GuruFocus has detected 5 Warning Signs with BTBT. Release Date: May 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Delhivery Ltd (BOM:543529) reported its first profitable year with a PAT of INR162 crore, marking a significant turnaround from a PAT loss of INR249 crore in the previous fiscal year. The company achieved a revenue growth of nearly 10% year-over-year, with total income reaching INR9,372 crore. The PTL (Part Truck Load) business showed strong performance with a 25% revenue growth year-over-year, contributing significantly to the company's profitability. Delhivery Ltd (BOM:543529) maintained a strong cash position with INR5,493 crore in cash and cash equivalents, ensuring financial stability. The company successfully expanded its customer base from 33,000 to 44,000, indicating strong market penetration and customer acquisition. Despite overall profitability, the express parcel business experienced a decline in service EBITDA margins from 18.4% in fiscal '24 to 16.2% in fiscal '25 due to competitive pricing pressures. The supply-chain services segment faced challenges, with service EBITDA margins dropping from 6.8% to 2.2% due to participation in the quick-commerce segment. There was a sequential decline in Q4 revenues by 8% compared to the peak quarter (Q3), indicating potential seasonal or market-related challenges. The integration of Ecom Express is expected to incur INR300 crore in integration costs, which could impact short-term financials. The company faced headwinds in the express parcel business due to extreme pricing actions from competitors, affecting margins. Q: Can you provide insights into the growth trajectory and operating efficiencies in the PTL segment? A: Sharjeel Suleman, CFO, highlighted that Delhivery's PTL business has significantly outperformed the industry, driven by investments in capacity and automation. The market remains largely unorganized, offering substantial growth potential. Yield management and operating leverage have contributed to margin improvements, with fleet utilization and automation playing key roles. Q: What are the expectations for margin expansion in the express parcel segment following the Ecom Express acquisition? A: Sharjeel Suleman explained that the acquisition is expected to enhance margins due to high incremental margins in Delhivery's network. As volumes increase, service EBITDA margins are anticipated to rise, although some pricing adjustments may be made to reward customers. Q: How does Delhivery view the competitive landscape in the express parcel industry post-acquisition? A: Sharjeel Suleman stated that Delhivery remains the only profitable player in the industry at current pricing levels. The acquisition of Ecom Express signals inevitable consolidation for loss-making networks, and Delhivery's cost and service advantages position it strongly against competitors. Q: What are the integration costs associated with the Ecom Express acquisition, and how will they impact financials? A: The integration costs, estimated at INR300 crore, include lease liabilities and anticipated operating losses during the integration phase. Delhivery aims to repurpose facilities and negotiate lease terms to minimize costs. Q: How is Delhivery addressing the insourcing trend in the express parcel business, and what is the outlook for FY26? A: Sharjeel Suleman emphasized that Delhivery's focus is on its own volume growth rather than industry trends. The acquisition of Ecom Express is expected to drive faster growth, and Delhivery's competitive position is strengthened in both growing and sluggish market scenarios. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-04-2025
- Business
- Yahoo
‘Doing something for the Lord': Wichita man who built hundreds of churches dies
The first church Ronald Roe Messner built was the Douglas Avenue Assembly of God in Wichita. He was around 22 when he finished it with a company he started when he was 17. His mother had to sign the paperwork to form the company since he was under 18, his son said. Messner, known by many as Roe, went on to design and/or build over 1,700 more churches, including the megachurch the Carpenter's Home Church in Lakeland, Florida. The Wichita East High School graduate died at his Wichita home on March 24 surrounded by family. He was 89. He is survived by his first wife, three of his four children, 18 grandchildren and 13 great-grandchildren. He was known for golf prowess, his ability to make a sale, hard work and devout faith. A private funeral service and memorial was planned for April 4 and 5. Dale Hill, a retired senior pastor who Messner built a New Mexico church for in the late 1980s, planned to attend. 'I've often said what Billy Graham was to the evangelical world, or … what Jackie Robinson was to the baseball world, or even Steve Jobs to the computer world, Roe was to the church building world, powerful,' Hill said. 'He was a trailblazer.' Messner looked at his work as a ministry. 'I have a goal to build a church in every state,' he told The Wichita Eagle-Beacon in a 1980 interview when his company had designed 491 churches in 45 states and built 293 in 34 states. 'But I have the satisfaction of knowing that I've helped more churches build for less. I feel I am doing something for the Lord with my ability.' Messner saw great success in his real estate ventures, but also faced adversity as the chief builder for Jim and Tammy Faye Bakker's televangelist empire, PTL, which included a Christian amusement park, Heritage USA. The Bakkers' TV program from the mid 1970s to the late 1980s took in more than $100 million in donations a year at its height. But a sex and financial misconduct scandal brought down PTL and landed Jim Bakker in prison. Messner was in the national tabloids as rumors sparked about a romance between him and Tammy Faye, who married him after divorcing Jim while he was in prison. His entanglement with the Bakkers led to his business going bankrupt. He later went to prison for just over two years in the late 1990s after being convicted of hiding assets during the bankruptcy filing. But he was able to rebuild his business. He also maintained his innocence and showed unwavering faith through the process. 'He was uniquely honest about everything that had happened in his life. I mean, he was completely forthcoming. And even during his prison days, Roe stood by principle,' Hill said, adding Messner told him if he had to do everything all over again, he would do it the exact same way. 'Roe was uniquely a man of principle … and sometimes it hurt him. In fact, a lot of times it hurt him.' After Messner was found guilty by a federal jury in 1995, his attorney, Steve Joseph, told The Eagle: 'Roe Messner is the most optimistic and upbeat man I have ever met in my life … He is not emotionally distraught over this verdict.' His children and Hill say that was because of his devout faith in Jesus. He took his Bible with him everywhere. He carried it with him to school as a child. In his later years, his children said, he was always standing in the kitchen, since it was easier on his back to stand than to sit, reading his Bible. The idea of being a builder started at a young age for Messner. When he was born, his family lived on a rural farm. They moved to Wichita when his father took a job with Beechcraft. They lived in the Beechwood apartments, which were built to house people who worked in aircraft factories during World War II. Messner knew he wanted more than to work in a factory for his life. He worked on and built his first house in 1949 when he was 14. It was off to the races from there. He met his first wife, Ruth Ann Messner, while she was studying at a Bible college in Springfield, Missouri. They married after about a year, in the mid 1950s, and started their family in Wichita. He completed his first church, Douglas Avenue Assembly of God, in 1957. Work kept him busy. He drove and flew to projects all over the country. He even got his own plane and hired a pilot since that was more efficient at the time than commercial flights. He was often gone during the week, but always made it back to be with his family on the weekend. They went to church every Sunday, without fail. 'We were always very active and involved in the church,' said his oldest child, Roann Messner. 'A lot of fond memories. (We were) a very happy family.' His children worked for him: Ronnie 'Ron' and Richard at the site and Roann and Robin, who died in 2016, in the office. Messner taught his children the importance of hard work. In 1980, Messner was getting ready to take on his grandest project to date: a $13 million, 165,000-square-foot church in Lakeland, Florida. The First Assembly of God, later called Carpenter's Home Church, was built to hold up to 10,000 people. It also had a hydraulic pulpit. Other large churches he built included the First Assembly of God in Phoenix, later called the Dream City Church, and the Capital Christian Center in Sacramento, California. Both of those large First Assembly of God churches were octagon or pie-shaped sanctuaries, a trademark of many Messner churches. For years, he had attended the Assembly of God church. During the undertaking of the Lakeland megachurch, he told The Wichita Eagle-Beacon that 40% of his business was Assembly of God, 40% Baptist and the rest Nazarene. Derald Musgrove, then the superintendent of the Kansas Assembly of God Churches, told the paper that: 'Roe understands what our congregation needs. His churches fit our style of worship. That's why he gets many of the contracts. He doesn't get them all by any means.' Messner told the paper that: 'Churches are a close-knit people. They like to keep business at home if they can. I see nothing wrong with that.' In the same article, Messner said: 'I can sell anything with a pretty picture and a floor plan. I'm a salesman.' He built churches of all sizes all over the country. Another he built in Wichita was the Central Community Church on Maple. He also built the Central Baptist Church in Clovis, New Mexico, for a congregation of less than 1,000 people when Hill was the senior pastor. It was the 1980s. A congregation member drew the design and recommended Messner for the build. But the quote they got for the design was $8.5 million, and they only had $4 million to spend. 'Roe, we are in trouble,' Hill remembers telling him. Messner redid the plans and built the church. 'He saved the project.'' Messner's knowledge of how churches function gave him an edge, allowing him to help churches build what they needed to operate without wasting space, which saved them money, Hill said. Hill said Messner would often fly in and check on the project. He always brought his golf clubs and the two would golf together. They hit it off and became best of friends. 'For a while there he was just so busy he could hardly take a breath,' Hill said. 'But you know, you would never know that talking to Roe. When Roe talked to you, it was as if you were the only person in the room, and your project was the most important project he had ever considered.' He also started many other ventures outside of building churches. He owned a doctor's clinic in Springfield, Missouri, a mobile home park in Nixa, Missouri, apartments and rental properties and two farms in Butler County, the 1980 article says. 'I am a firm believer that real estate is where to invest money,' he said in the article. 'Whenever I have extra money, I buy land. Some people like stocks, but fortunes have been made in real estate.' He and his wife, Ruth Ann, would also go on to start KS Magazine, which she worked on as the editor. The 1980 article said 'life is pretty sanguine these days for Messner' who had built a dream home on 20-acres outside of Andover that had a pond stocked with bass and where he trapped mink and muskrat along the creeks and gulches. It said he had already 'achieved financial and professional goals at age 44' but was still looking for the day when other ventures would preoccupy him. Just a few years later, his pet project and business venture would be owning and building the Terradyne golf course and country club. But then bankruptcy came. Messner, well-known for building churches, connected with the Bakkers, who were also members of the Assembly of God. He was hired to do work on Heritage USA, the Bakkers' Christian water and theme park, shopping complex and hotel. But then scandal broke involving Jim Bakker. His misuse of funds, including to fund an extravagant lifestyle, left PTL ministry approximately $72 million in debt, with Messner being the largest creditor at $14 million owed, The Associated Press reported in 1987 based on court filings about PTL. Messner also had to file for bankruptcy with his company, Commercial Builders of Kansas, but he started a new company, Roe Messner & Associates. 'He lost a lot of friends,' son Ron Messner said about when he lost his business and much of what he owned. 'But he came through it, and, you know, and you just really knew who was with you, who was against you.' After divorce, he married Tammy Faye, who he was with for roughly 14 years until her death in 2007. 'They got together, of course, very quickly, and that's just how my dad goes … that's just the religious guy in him,' Roann Messner said. 'He's not gonna, he wants to get married.' They spent most of their time in California and near Charlotte, North Carolina. Ronald Messner and his children, Ron and Roann, all said Tammy Faye Messner was much different in person than the media portrayed her. 'She was the most common, down-to-earth person you ever saw,' Ronald Messner told The Eagle after she died in 2007. 'The press always made her out to be some nitwit type of person. She was totally different. Her IQ was 165. She was so sharp and different than everybody thought she was.' He said he got thousands of sympathy cards after her death. Her ashes were buried in a plot in a small cemetery in Waldron, Kansas, where Messner lived as a child and where he will be buried alongside his parents. 'Dad was the happiest when he was with Tammy,' Roann said. 'Tammy is hilarious … They laughed all the time. And just, you know, they were very, very happy.' Ronald Messner went to prison in the mid 1990s, a few years after they married. Around the same time, he had been dealing with prostate cancer. He would often write his family while serving his 27 months. 'It was always … 'how are you doing?'' Ron Messner said, and not about what he was going through. 'Always.' Messner said he never heard his dad cuss, or saw him drink or smoke. 'He was a special, special guy,' he said. 'No doubt about it. He was a one-of-kind guy.' Family said he stayed positive, kept his faith and never stopped working. He continued to rebuild his business. Both of his sons also started their own businesses. The three would at times work together. The last project Ron and Ronald Messner finished together was the New Heights Church in College Station, Texas, in 2024. Ron Messner said they are still in talks with other churches and he will see those projects through. His father, he said, had been working just weeks before his death. Ron and Roann Messner said they will always remember their father for his hard work and devout faith. He read the Bible all the way through every six months, Ron Messner said. He did not want to go to the hospital and died peacefully at his home. His children and their families had been coming daily the last few days as they expected his passing. Roann said her last words to him were that she loved him and he was the 'best dad ever.' 'He was very peaceful,' she said. 'When you are a Christian, you can be peaceful about it.' Hill said Ronald Messner was the epitome of the greatest generation. 'Because he did build his own story,' Hill said. 'But more than that, he created spaces for other people to build their stories, in the churches that he built.' There are thousand of churches around the country tied to Ronald 'Roe' Messner, including dozens in the Wichita area. 'I consider building churches a ministry,' Messner said in the 1980 interview. 'I consider every bid as meaningful as preaching every Sunday.'
Yahoo
27-02-2025
- Business
- Yahoo
Estimating The Fair Value Of PTL Limited (NASDAQ:PTLE)
PTL's estimated fair value is US$1.16 based on 2 Stage Free Cash Flow to Equity PTL's US$1.24 share price indicates it is trading at similar levels as its fair value estimate The average discount for PTL's competitorsis currently 17% In this article we are going to estimate the intrinsic value of PTL Limited (NASDAQ:PTLE) by taking the expected future cash flows and discounting them to their present value. We will use the Discounted Cash Flow (DCF) model on this occasion. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. See our latest analysis for PTL We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF ($, Millions) US$418.7k US$501.4k US$574.9k US$638.6k US$693.5k US$740.9k US$782.4k US$819.6k US$853.6k US$885.4k Growth Rate Estimate Source Est @ 27.05% Est @ 19.76% Est @ 14.66% Est @ 11.08% Est @ 8.58% Est @ 6.83% Est @ 5.61% Est @ 4.75% Est @ 4.15% Est @ 3.73% Present Value ($, Millions) Discounted @ 7.2% US$0.4 US$0.4 US$0.5 US$0.5 US$0.5 US$0.5 US$0.5 US$0.5 US$0.5 US$0.4 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$4.6m After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.8%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.2%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$885k× (1 + 2.8%) ÷ (7.2%– 2.8%) = US$20m Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$20m÷ ( 1 + 7.2%)10= US$10m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$15m. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of US$1.2, the company appears around fair value at the time of writing. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at PTL as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 1.032. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For PTL, there are three relevant aspects you should consider: Risks: Be aware that PTL is showing 3 warning signs in our investment analysis , and 1 of those is a bit concerning... Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing! Other Environmentally-Friendly Companies: Concerned about the environment and think consumers will buy eco-friendly products more and more? Browse through our interactive list of companies that are thinking about a greener future to discover some stocks you may not have thought of! PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
30-01-2025
- Business
- Yahoo
TSTC to offer pipe welding certification class at West Texas campuses
Jan. 30—SWEETWATER — Beginning this fall, Texas State Technical College will offer a certificate of completion in Welding Advanced Pipe Specialization at each West Texas campus. Abilene's campus has been teaching the certification class, and it will now be offered in Breckenridge, Brownwood and Sweetwater. "Every company offers some type of pipe welding," Greg Nicholas, the program team lead (PTL) for Welding Technology in Abilene and Sweetwater, said in a news release. "We all know there is a need for pipe welding in the oil fields. We are going to be here to fill that gap." Stephen Hope, the PTL for Welding Technology in Breckenridge and Brownwood, said West Central Texas is a natural fit to provide this certification. "We are in the heart of pipe welding country, whether its pipeline that is new or maintaining current lines," he said in the release. "There are power plants, both hydro and nuclear, that are always needing pipe work." Hope said refineries across the state deal with pipe for transporting and other companies make boilermakers, which deal with pipe. "Then you also have your local farmers and ranchers that might like a new pipe entrance," Hope said. "So, the advanced pipe certification will gear the students with the knowledge that will allow them to achieve whatever mission they want to accomplish." Nicholas said it will lead to graduates being prepared for the industry. "This is a great skill set being added to our Welding Technology offerings in West Texas," he said. "In general, pipe welders often make more money and that will be good for our graduates." According to welders can earn a yearly median salary of more than $48,000 in Texas. Welding jobs were expected to increase 23% between 2020 and 2030 in the state, according to the website. Welding Technology is one of nine programs at TSTC that have money-back guarantees. For more information, visit To learn more about TSTC, visit
