저자: VijayKedia · 외국인
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결론: REPRO India는 인도 도서 온라인 유통 전환을 통해 성장할 수 있다는 낙관적 견해가 제시됨. 사업 모델: 재고 없이 출판사 카탈로그를 집계해 주문 시 인쇄·24시간 내 배송하는 구조로, 자산 부담이 적고 운전자본이 음(-)인 사업이라고 설명. 시장 규모: 인도 도서 시장은 약 50~60억 달러이며 연 약 20% 성장 중, 온라인 비중은 2~3.5%에 불과하나 미국은 50% 이상이라 온라인 전환 여지가 크다고 주장. 성장 전망: 향후 3~5년 내 2022년 예상 800~1,200만 규모의 온라인 도서 시장에서 큰 점유율 확보를 목표로 함. 실적 흐름: 최근 6분기 연속 성장, 월 매출이 1~2crore에서 최근 약 3crore 수준으로 증가. 이 추세가 최소 6~8분기 지속될 것으로 기대. 리스크: 실행 실패 가능성 외에는 특별한 리스크를 크게 보지 않는다는 입장. 주가는 실적 반영 전이라는 점 언급. 밸류에이션: 경영진은 주가 평가는 시장 몫이라며 답을 피하고 우버 모델과의 유사성을 강조. 추가: 진행자가 Sudarshan Chemicals가 2년간 3배 올랐다는 점을 언급하며 질문으로 마무리.
다듬은 글
let's do one thing in that case of course you stay with us we haven't sukira also in a studio here a good morning good good to have you in a studio so do you have if you think that's optimism that which is talking about in terms of your business potential over the next five or ten years is the opportunity large and is the repetition to take advantage of that yeah the book industry in India is around five to six billion dollars and growing it around 20 percent year-on-year now there's a huge disruption which is happening in the industry which we see as an opportunity to really capture a large market share in the distribution of books so the distribution of books is moving online and we have a model here which is a satellite in fact we don't own any assets we just aggregating content from different publishers and we're making it available to the to the readers and we go to a publisher we take their full catalogue so today we are able to sell the entire catalog of publisher without keeping any books in inventory we just have the files when we get the orders we print and we deliver within 24 hours so that is the business model and right now online market is hardly three two three and a half percent in India of the total book sales now in the US online sales is more than 50% now it's it is bound to move that in that direction so one is a ebooks market is increasing secondly the online selling is increasing today we are the pioneers in this our game and we have a head start of almost two years and we are aggressively aggregating more and more titles more and more content so we think that in the next three to five years we should be able to garner a large share of the eight to 10,000 to 12,000 online market which we expect that the books online market to be around 2022 so this books on demand market market what kind of revenues you can do over the next two years and also because now you've perhaps downsize a lot of your operations because you've moved from printing to online distribution how's your costs reduced a lot as well yeah so a print business we are now sustaining at the current level we're not investing in that because it's the capital intensive business we are instead focusing on growing the distribution business where like I said it's no investments required in terms of acquiring the titles plus it's a negative working capital business because first we sell and get the money and then we have to produce and deliver and then we pay to a publisher within a month or so to answer the question about the next couple of years see over the last six quarter's if you see quarter and quarter we've been growing last quarter when we announced the results we were selling almost three crop worth of books per month at the and and before that the quarter before that it was one lap or two crores per month this trend is continuing today we are announcing a result will announce the last quarter the second quarter how much we have done but it is the ten-day similar and we expect this trend to carry on for the next at least six to eight quarters before we able to see a significant scale coming into the whole business okay that's that's interesting of course we need from your point of view what would be the the key risk factors here because now just looking at the numbers of course the stock market is about future numbers but it's yet to reflect in the in the numbers right yeah exactly so as I said if they fail to execute all these things well then that could be a that could be a risk in the business but so far I think beyond that I don't foresee any risk but one thing I would like to ask mister promoter if you allow me to yes please please go ahead yeah okay mr.
promote get a good morning I just want to know one thing that you have seen this on various platforms that you that repre industry so I would just like to I would like to know from you that when your shareholder will also feel the same that revrev India is aware of book industry actually I am not the right person to talk about valuations and the share price but what I can talk about is the business model which is a lot of similarities between what we are doing and what Cooper has done in the transport or the computer industry we are aggregating content we don't own any content it's an asset Laden model we are making it available to the customers the readers on-demand anytime anywhere in the shortest possible time the best quality I think this is the model that uber had for taxi and for transferred with a similar model what we are is the one that we are implementing for the books industry and like you said we are quite confident that we will be able to implement this in a manner that we capture a significant share of the market and if we achieve that then valuations are something that I guess in the market and guys like you will decide okay that is very true and I think all investors like to see companies that constantly reinvent themselves and you've gone from printing books to sort of selling it in the online market which i think is the need of the hour thank you for joining us but Vijay I just want to get one squeeze in one last question you know the other stock you were talking about Sudarshan chemicals that stock has more than tripled in the last two years you
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