TSN- Spec Buy. Target 6-7cents, page-210

Hi @oshiri,

Cheers, it was great to meet you too.

The ATM business has always been the stand out for me.

Why?

The strong foundation of all businesses is the solid relationships management of companies form. Once that's set, anything is potentially possible. Management have strengthened, nurtured and cultivated their existing business relationships for almost a decade now. This has been crucial over the long term and is now evident with the massive 11,000 plus ATM monster deal they've recently won. You don't win those kind of deals without solid foundations in place.

TSI India now have their foundations firmly set. They've taken business to a whole new level. Look at the number of clients they are now doing business with (over 30 bank clients) and the sheer volume of customers they are now serving (over 500 million). This is REAL business with REAL clients in one of the largest growing economies in the world.

Judging by the markets lack luster view, anyone visiting TSN for the first time would think that company have done absolutely nothing and achieved nothing. On the contrary. TSI India have achieved enormous growth recently as a result of the decade of hands on experience on the field. What took them ten years to achieve (2000 ATMs) they have simply blown that out of the water in approximately one year with just one deal. With this one deal, TSI India will become one of the largest operators of BANK BRANDED ATMs in India. I don't brush over that statement lightly. What's this business going to look like if/when all the other 'ready for market' business lines are introduced? Leverage is what my attention is on now, as this is where immense growth potential can actually become a reality.

As per company website, TSI India's goal is to “To build the leading electronic transaction and processing business in India”. Judging by what they've recently achieved with one partner across one business line in little time, I'd say they're well on their way to achieving their dream.

http://www.tsiplc.com/our_goal.asp

Tony