Bharat Financial Inclusion Ltd

Bharat Financial Inclusion Ltd
Finance (Including NBFCs)
FV – Rs 10; 52wks H/L –938.75/435; TTQ – 5.24 Lacs; CMP – Rs 612 (As On December 30th 2016);                                  
Market Cap – Rs 8441 Crs

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total  
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
127.31 1383 2269 1321 302.98 109 23.8 25.71 48.66 5.61 1.75 1.84

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total  
Sales		 PAT
BV
(Rs)
EPS (Rs)
 P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
137.55 2513 2109 776 381.79 183 27.76 22.05 48.66 3.34 1.75 1.84

 

Valuation Parameters:

  1. Long Term Debt to Equity – 1.64
  2. ROE % – 22
  3. Market Cap/Sales – 6.4

 

The company has a Gross Loan Portfolio of Rs. 9046 Crs as on Q2 FY17.

Morgan Stanley Asia (Singapore) and Morgan Stanley Mauritius Company acquired 1.0996 per cent stake Bharat Financial, according to the release on23rdDecember,2016. http://economictimes.indiatimes.com/markets/stocks/news/bharat-financial-surges-over-10-on-stake-hike-by-morgan-stanley-units/articleshow/56214855.cms

 Overview:

  • Bharat Financial Inclusion Limited, formerly SKS Microfinance Limited, is a non-banking financial company-micro finance institution (NBFC-MFI).
  • The core business of the Company is providing small value unsecured loans and certain other basic financial services to its Members (Individuals from low income households who are clients of the Company are classified as “Members” and Members whose loans are outstanding are classified as “Borrowers”).
  • The Company is engaged in providing micro finance services to women in the rural areas of India enrolled as members and organized as Joint Liability Groups.
  • In addition to its business of providing micro-credit, the Company uses its distribution channel to provide other financial products and services to the members.
  • Programs in this regard primarily relate to providing of loans to the members for the purchase of mobile handsets, solar lamps, bicycle and sewing machines, among others.
  • The Company provides door step delivery of its services through center meetings in villages.
  • The Company offers loans mainly for income generating activities and not for personal consumption.
  • The Company has presence across approximately 20 states, covering over 100,000 villages and catering to approximately 69.7 lakh women members.
  • The Capital Adequacy Ratio is 33.4%

 

Management:

  • M. R. Rao  – MD & CEO

The Equity Capital is @ Rs 137.55 Crs consisting of 137551594 equity Shares of FV Rs 10 currently held as under

 

 

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 IDFC 3278728 2.38
2 BIRLA SUN LIFE TRUSTEE COMPANY PRIVATE LIMITED 1998458 1.45
3 CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED 1388334 1.01
4  MORGAN STANLEY INDIA INVESTMENT FUND, INC. 1483299 1.08
5 KUWAIT INVESTMENT AUTHORITY – FUND NO. 208 1539368 1.12
6 SWISS FINANCE CORPORATION (MAURITIUS) LIMITED 1623436 1.18
7 AMUNDI FUNDS EQUITY INDIA 1850000 1.34
8 PINEBRIDGE INVESTMENTS GF MAURITIUS LIMITED 1918983 1.4
9 TIAA-CREF FUNDS – TIAA CREF INTERNATIONAL EQUITY F 4409111 3.21
10 MORGAN STANLEY MAURITIUS COMPANY LIMITED 5240577 3.81
11 AMANSA HOLDINGS PRIVATE LIMITED 5400000 3.93
12 GOLDMAN SACHS (SINGAPORE) PTE 2007900 1.46
13 TREE LINE ASIA MASTER FUND (SINGAPORE) PTE LTD 2357076 1.71
14 MORGAN STANLEY ASIA (SINGAPORE) PTE. 3283935 2.39
15 CREDIT SUISSE (SINGAPORE) LIMITED 3285764 2.39
16 INDUS INDIA FUND (MAURITIUS) LIMITED 3716632 2.7
17 BARON EMERGING MARKETS FUND 3772097 2.74
18 SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA 1471961 1.07
19 SANDSTONE INVESTMENT PARTNERS I 2347117 1.71
20 KISMET SKS II 1943940 1.41
21 TREE LINE ASIA MASTER FUND (SINGAPORE) PTE LTD 1492924 1.09
22 VINOD KHOSLA 3419241 2.49


 

 

 

Standalone Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 127.31 126.29 108.21 108.21 72.36 72.36
Networth 1383 1046 459 390 430 1781
Total Debt 2913 1667 632 837 416 1081
Net Sales 1321 803 545 353 472 1270
Other Income 152 79 26 20 37 94
PAT 302.98 187.66 69.85 -297.14 -1360.6 111.63
Book Value (Rs) 109 83 42 36 59 246
EPS (Rs) 23.80 14.86 6.46 -27.46 -188.03 15.43

 

Chaman Lal Setia Exports Ltd

Chaman Lal Setia Exports Ltd
Other Agricultural Products
FV – Rs 2; 52wks H/L –82.45/43.72; TTQ – 21 K; CMP – Rs 78 (As On December 28th 2016);                                 

 Market Cap – Rs 407 Crs

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
9.41 110 17 488 37.25 23 7.92 9.85 24.58 3.4 74.82 0.54

 

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
9.41 130 17 237 19.34 28 4.11 18 24.58 2.79 74.82 0.54
  • On 28/12/2015 there was a stock split from Rs.10 per share to Rs.2 per share.

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.15
  2. ROE % – 34
  3. Market Cap/Sales – 0.83

 

Overview:

  • Chaman Lal Setia Exports Ltd. is a manufacturer and exporter of basmati rice.
  • The Company also offers non-basmati rice, such as Sugandha, Sharbati, Prll and Sona Massouri.
  • The Company’s diverse product line covers products, such as Sella Rice, Bhatti Sella, Rice for Diabetic peoples, Smoked rice and Pesticide Residue free rice.
  • In the international market, the Company is exporting rice to over 70 countries across the world in the Maharani brand or under the private labels of the customers.
  • Its Maharani Product range includes Basmati Rice 1121, Maharani Basmati Rice, Royal Basmati Rice and Supreme Basmati Rice. Its basmati product range includes Mithas Basmati Rice, Begum Basmati Rice and Nezzah Indian Basmati Rice. The Company also offers private labeling to all its customers.

 

Management:

  • Mr. Chaman Lal Sethia  – CMD
  • Mr. Ram Singh – CFO

The Equity Capital is @ Rs 9.41 Crs consisting of 51733550 equity Shares of FV Rs 2 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 Sangeetha S 561407 1.09
2 Laj Capital Services P Ltd 1449250 2.8

 

 

Share Price Movement

 

Standalone Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 9.41 9.44 9.43 9.43 9.41 9.41
Networth 110 79 66 51 40 35
Total Debt 91 50 61 34 49 46
Net Sales 488 510 418 273 219 168
Other Income 5 2 2 7 1 0.2
PAT 37.25 19.5 18.24 11.98 7.7 6.02
Book Value (Rs) 23 17 14 11 9 7
EPS (Rs) 7.92 4.13 3.87 2.54 1.64 1.28

 

During the year 92200 of Rs 10 each (Face value) Shares were forfeited by the company due to continuous default of call money.

 

 

 

 

 

 

 

 

 

 

 

Engineers India Ltd

Engineers India Ltd
Consulting Services
FV – Rs 2; 52wks H/L –321.9/143.25; TTQ – 1.28 Lacs; CMP – Rs 318 (As On December 22nd 2016);                          

        Market Cap – Rs 10669 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
168.47 2731 – 1780 261.52 81 7.76 41 24.59 3.93 59.37 1.76

 

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
168.47 2839 – 681 174.06 84 5.17 62 24.59 3.79 59.37 1.76

 

Valuation Parameters:

  1. Long Term Debt to Equity – NIL
  2. ROE % – 9.6
  3. Market Cap/Sales – 6

 

Engineers India Ltd Fixes Jan 2, 2017 as Record Date for 1:1 Bonus Issue. http://equitybulls.com/admin/news2006/news_det.asp?id=197803

Engineers India looks at doubling order book targets of FY17

http://www.business-standard.com/article/companies/engineers-india-looks-at-doubling-order-book-targets-of-fy17-116120600930_1.html

The  Company secured new business of 1596 Crore in FY2015-16 which includes 1210 Crore from domestic consultancy and turnkey business and 386 Crore from overseas business.

Overview:

  • Engineers India Ltd (EIL) is an engineering consultancy, and engineering, procurement and construction (EPC) company in the hydrocarbons and petrochemicals industry.
  • The Company’s segments are Consultancy & Engineering Projects, and Turnkey Projects. Its services include technologies, pre-Front End Engineering Design (FEED) and FEED, project management, procurement services, construction services and specialized services.
  • The Company focuses on various sectors, including fertilizer and liquefied natural gas (LNG), non-ferrous metallurgy, infrastructure, strategic crude oil storage, nuclear and solar energy, and exploration and production. It offers various technologies for petroleum refining, oil and gas processing, and aromatics.
  • The Company’s projects include Guru Gobind Singh Refinery Project, Bina Refinery Project, Panipat Naphtha Cracker Project, Dabhol Bangalore Pipeline Project, Phase II Expansion of Alumina Refinery and Deen Dayal Field Development Project.
  • Engineers India Ltd riding on the spike in domestic orders from the hydrocarbon sector met its order booktarget for the current financial year in the first quarter.
  • The company is now confident to report twice of what it had guided for in order book growth at the start of the financial year.

 As of June 2016, the company had an outstanding order book of Rs 5467 crore. 

This year, the Company successfully carried out an Offer for Sale (OFS) as part of the Government of India’s decision to divest 10% of its stake in EIL. The OFS was oversubscribed by 2.54 times with overwhelming participation from FIIs, banks, mutual funds and Insurance Companies. With this divestment, the GOI holding in EIL is at 59.37% of the paid up share capital of the Company.

Management:

  • Mr. Sanjay Gupta  – CMD
  • Mr. Ram Singh – CFO

The Equity Capital is @ Rs 168.47 Crs consisting of  336936600 equity Shares of FV Rs 5 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 L&T Mutual Fund 6356747 1.89
2 DSP Blackrock Balanced Fund 3834337 1.14
3 ICICI Prudential Value Fund – Series 1 6105431 1.81
4 Swiss Finance Corporation (Mauritius) Ltd 6893556 2.05
5 LIC Of India Market Plus Growth Fund 7164243 2.13
6 Life Insurance Corporation of India 16719201 4.96
7 General Insurance Corporation Of India 4755015 1.41
8 Birla Sunlife Insurance Company Ltd 3610924 1.07

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 168.47 168.47 168.47 168.47 168.47 168.47
Networth 2731 2632 2522 2295 1899 1490
Total Debt 0.3 0.5 0.2 0 0 0
Net Sales 1780 2014 2182 2846 3956 3008
Other Income 255 273 336 317 232 160
PAT 261.52 312.71 482.73 632.2 643.87 531.29
Book Value (Rs) 81 78 75 68 56 44
EPS (Rs) 7.76 9.28 14.33 18.76 19.11 15.77

 

 

 

 

 

 

 

 

 

 

 

NIIT Ltd

NIIT Ltd
IT Training Services
FV – Rs 2; 52wks H/L –107.8/67; TTQ – 22 K; CMP – Rs 81.5 (As On December 20th 2016);                               

   Market Cap – Rs 1356 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
33.13 805 180 1014 67.24 49 4.06 20.07 26.93 1.66 34.09 1.31

 

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
33.13 813 167 189 0.83 49 0.05 1630 26.93 1.66 34.09 1.31

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.22
  2. ROE % – 8.4
  3. Market Cap/Sales – 1.34

NIIT Ltd has informed BSE that the Company has entered into a share purchase agreement with National Skill Development Corporation (“NSDC”), in terms of which Company has agreed to acquire 2313240 equity shares of NIIT Yuva Jyoti Limited (“NYJL”) having face value of Rs. 10 each constituting 10% of the aggregate issued and paid-up share capital of NYJL from NSDC for an aggregate cash consideration of Rs. 28508139. http://corporates.bseindia.com/xmldata/corpfiling/AttachHis/3F0C7007_B08C_45B4_B1BC_674CA83A04D4_175324.pdf

IIM Ahmedabad and NIIT Imperia announce fresh batch for Accelerated General Management Program. http://www.equitybulls.com/admin/news2006/news_det.asp?id=197720

During the quarter the company has acquired the business of Perception Learning Solutions Pvt. Ltd for an aggregate consideration of Rs. 2.5Crs.

Overview:

  • NIIT Ltd is a skills and talent development company.
  • The Company operates through the learning business segment.
  • It offers multi-disciplinary learning management and training delivery solutions to corporations, institutions and individuals.
  • Its geographical segments include India, America, Europe and Asia Pacific. Its lines of business include Corporate Learning Group (CLG), Skills and Careers Group (SNC), and School Learning Group (SLG). CLG offers managed training services, custom curriculum design and content development, learning administration, learning delivery, strategic sourcing, learning technology and advisory services.
  • SNC delivers learning and talent development programs in areas of banking, finance and insurance, soft skills, management education, multi-sectorial vocational skills, digital media marketing and new-age information technology (IT).
  • SLG provides teaching and learning solutions to schools. SLG offerings include Quick School, Math Lab and IT Wizard programs.
  • The Company ended FY16 with 31 Managed Training Services customers and a Revenue Visibility of USD 200 million over the remaining period of existing contracts.

Management:

  • Mr. Rajendra Pawar  – Chairman
  • Mr. Vijay Thandani – MD
  • Mr. Rohit Gupta – CFO

Major Non – Promoter Holdings:

Sr. No Non – Promoters No of shares held % of shares held
1 Relaince Capital Trustee Co.Ltd A/C Reliance Small Cap Fund 5786749 3.49
2 Canara Robeco Mutual Fund – Emerging Equities 1805965 1.09
3 DSP Blackrock Small & Midcap Fund 3237153 1.95
4 DSP Blackrock Equity Fund 2343418 1.41
5 Polunin Emerging Markets Small Cap Fund LLC 2340650 1.41
6 Government Pension Fund Global 4956291 2.99
7 The Master Trust Bank Of Japan Ltd as Trustee of Blackrock India Equity Fund 2301599 1.39
8 Abu Dhabi Investment Authority 5765520 3.48
9 IL & FS Trust Company Ltd 3245499 1.96
10 Tasha Investment Advisors LLP 2065070 1.25

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 33.1 33.03 33.03 33.02 33.02 33.02
Networth 805 730 674 668 662 557
Total Debt 195 137 107 112 86 310
Net Sales 1014 971 961 970 1268 1257
Other Income 8 13 10 9 8 8
PAT 67.24 -138.53 17.77 26.26 110.16 92.18
Book Value (Rs) 49 44 41 40 40 34
EPS (Rs) 4.06 -8.39 1.08 1.59 6.67 5.58

 

 

 

 

 

 

 

 

 

 

LML Ltd

LML Ltd
2/3 Wheelers
FV – Rs 10; 52wks H/L –17.33/6.36; TTQ – 21 K; CMP – Rs 12.75 (As On December 19 2016);                                  

Market Cap – Rs 105 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
81.98 -663 – 156 -78.36 – -9.56 – 20.18 – 26.57 1.03

 

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
81.98 -716 – 27 -52.63 – -6.42 – 20.18 – 26.57 1.03

 

Valuation Parameters:

  1. Long Term Debt to Equity – NIL
  2. ROE % – NIL
  3. Market Cap/Sales – 0.67

 

The company, which used to make the iconic LML Vespa in collaboration with Italy’s Piaggio and C Spa, is in a downward spiral after its break-up with Piaggio in 1999 and a lock-out at its Kanpur factory in 2006. http://www.moneycontrol.com/news/business/trial-productionthree-wheelers-likely-by-month-end-lml_7629381.html

The Company is working on development and industrialization of various new products and technology, including new generation 4-stroke – two wheelers and light 3-wheeler vehicle. Barring unforeseen circumstances, it is expected to launch light 3 wheeler vehicle during FY 2016-17.

Since the net worth of the company had becom negative, the company has been registered and declared a Sick Industrial Company by BIFR.

Overview:

  • LML Ltd (Formerly Lohia Machinery Ltd) is is engaged in the manufacture of motorized two-wheelers.
  • The Company is involved in manufacture of scooters, motorcycles and parts thereof.
  • Its geographical segments include Domestic Sales and Export sales.
  • The Company offers a range of four-stroke geared scooters in 125 cubic centimeters (cc)-150cc and 200cc category, four-stroke continuously variable transmission (CVT) scooters in 125cc and 150cc category, and 4-stroke motorcycle in 110cc and 150cc.
  • It is engaged in design of light three-wheeler.
  • It is also involved in production of two-stroke metal body geared scooters (MBGS).
  • The Company’s manufacturing plant is located in Kanpur.
  • Its products include Scooter, which includes two-stroke, four-stroke and CVT scooter, and Mobike.
  • The Company’s exports are made to countries, including the United States, countries in the European Union, Africa, Latin America and Asia.

 

Scooters FY16 (Nos.) FY15 (Nos.)
Export 8688 26184
Domestic 4225 11902
Total 12913 38086

The turmoil in the African market and economic slow down in developed economies has adversely affected the Company’s export during the year.

Management:

  • Mr. Deepak Kumar Singhania – CMD
  • Mr. Mahesh Kumar Kanodia – CFO

Price Snapshot:

Year Open High Low
2005 47.1 59 36
2006 39.9 62.95 8.25
2007 14.78 23.07 9.05
2008 22 28.05 5.05
2009 7.02 13.05 5.21
2010 12.3 16.45 8.32
2011 12.28 12.85 7.02
2012 7.3 9.9 6.01
2013 7.05 9.68 3.8
2014 6.84 12.9 4.9
2015 8.65 10.95 5.98
2016 9.2 17.33 6.36

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 81.98 81.98 81.98 81.98 81.98 81.98
Networth -664 -585 -499 -426 -361 -316
Total Debt 0.8 0.8 0.8 1 2.2 19
Net Sales 156 207 264 244 312 374
Other Income 2 4 2 1 2 12
PAT -78.37 -81.09 -72.83 -65.45 -45.2 -99.54
Book Value (Rs)  – – –  – –  –
EPS (Rs) -9.56 -9.89 -8.88 -7.98 -5.51 -12.14

 

The Company’s performance during the year was adversely affected inter alia due to global recessionary conditions and specially political and economic condition prevailing in African and developed economies as well as weak domestic demand.

 

 

 

 

 

 

 

 

Sadly Tree House Education Uproots Children Now after Shareholders

The Market Cap is down to just Rs 100 crs at 20% lower circuit today at Rs 23.85

It’s Fall commenced in 2015 uprooting Shareholders Wealth dramatically from Highs of Rs 550 in Feb 2015 when Market Cap was over Rs 2300 crs ! ~ it’s a wipe-off of over 95% in Wealth!!! like you’re left with just Rs 5 from your original Rs 100 !!!

Now Children have been uprooted with Centres being closed overnight

I had blogged extensively on this debacle over a year ago on November 27, 2015 with specifics on how there appeared to be cloudy money payments & accounting jugglery in the accounts.My Training Sessions cover Tree House when discussing Corporate Governance & Interpretation of Financial Statements when assessing Value vs Price

Tree House Education up Shit Creek & Down Market Big Time at Rs 169

Did not the  FPIs, Private Equity Funds & Venture Funds question this when investing Hundreds of Crs in the Company…. and how did Independent Directors & Auditors allow all of this…. & how did all such risk miss the eyes of many a Fundamental Analyst when recommending this for Investment !!! 

Shareholders Proxy Firm SES ,co-founded by MD & ex SEBI ED, Mr J N Gupta accuses the Company yet again.

They had raised similar suspicions in 2015 

Message Boards of Stock Portals went ballistic on Tree House last two years with many supporting a turnaround at Rs 150 & Rs 200 levels that it had dropped to end 2015 from Rs 550+ levels.Either they were paid stooges or simply living in Hope in the Squeeze of a Boa Constrictor.2016 actually tightened the squeeze leaving shareholders gasping for breath,dropping from Rs 175 levels beginning of the year to now just Rs 24 & falling.There’s a cloud on the merger too with Zee

And just look at this ironic Shareholder data !

March 2015 ~ 5300 Shareholders at Peak Highs of over Rs 500

December 2015 ~ 13552 Shareholders at Turnaround Hope @ Rs 175

September 2016 ~ 20577 Shareholders last notification count

Clearly Many Investors love standing in front of a Speeding Train ! ~ The Faster the Speed of the Fall the More Join in to commit suicide ! ~ Living in Hope only to Die in Despair ! ~ Sadly most of them could be Retail,sucked in by Positive Views on MessageBoards & by Experts on  Stock Portals & Channels

Earlier in 2013 I had lamented & even loudly warned on the blog (Checkout Category Kingfisher Airlines~ Machiacellian Mallyas) ,in my Forum Speeches & Training Sessions that over 240000 shareholders of Kingfisher Airlines should critically revisit their Investment before it was too late as to me it was simply an Airline that never really took off ! ~ Shareholders remain Holed up in a suspended scrip (last restricted trade was just Rs 1 in June 2015 when it was finally fully suspended even from restricted Trading after initial suspension from December 1,2014 ) while the Promoter Mallya is holed up in London ~ Tagline of my Blog “In India,Companies may Fall Sick but Promoters rarely do!”

TreeHouse & Kingfisher Airlines ~ Both Initially Hard Hypes with a Hard Crash landing ~ there are many like this ~ Reliance Power for one ! ~ BAM ! is the Acronym of the Promoters of such !

It’s not just the Children who love playing :

‘Ring-a-ring o’ roses,
A pocket full of posies,
A-tishoo! A-tishoo!
We all fall down”

Sad !

Update on Monday, December 19, 2016

Whoa! Treehouse & it’s Promoters now accuse the Zee Group of committing a fraud on it with the conspiracy to kill Treehouse as a business.

They have stated this in their clarification notification to the BSE,NSE & MCX

Zee has called off it’s proposed merger with Treehouse

What’s it with this letter ‘T’!? ~ Tata Group is in an unprecedented controversy to remove it’s Chairman with hostile aggression & a lot of muck flows to & fro ~ Now’s it’s Treehouse being uprooted ! ~ Which is the next T ! ~ there you go ! reaching out for all the Listed ‘T’ Companies !

Feel really sad for the minority shareholders of Treehouse ~ they’re trapped with Treehouse at 20% lower circuit even today at Rs 19 ! ~ some have invested life savings in it,as I just learnt !

Will it revive,rather be allowed to,as promoters claim fraud on it ? ~ The overseas controversial Valeant Pharma comes to mind and how it got decimated inside a year too & is fighting to revive despite Warren Buffett thrashing it & Charlie Munger even going harsher calling it a sewer !

Sad !

Indian Overseas Bank

Indian Overseas Bank
Banks
FV – Rs 10; 52wks H/L –32.65/21.1; TTQ – 4.97 Lacs; CMP – Rs 25.1 (As On December 15th 2016);                               

   Market Cap – Rs 6161 Crs

Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
1807.26 15666 27183 26046 -3387.17 87 -18.7 – 14.86 0.29 77.32

1.5

 

Standalone Financials and Valuations (Amt in Rs Crs unless specified)

 
Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Provision Coverage Ratio
Q2 FY17 2454.73 13076 22530 5962 -765.13 53 -3.12 – 14.86 0.47 79.56 50.19
Q1 FY17 1899.01 12520 22530 5868 -1450.5 66 -7.64 – 14.86 0.38 73.58

47.61
  • Promoter holding has increased to 79.56% from 73.58%

Valuation Parameters:

  1. Long Term Debt to Equity – 1.74
  2. ROE % – NIL
  3. Market Cap/Sales – 0.24

Capital Adequacy Ratio for FY16 is 9.6% and Provision Coverage Ratio is at 47.39%.

 

  • The Bank issued 485617597 equity shares of Rs.10 each for cash at issue price of Rs.41.37 per equity share (including premium of Rs.31.37 per equity share) aggregating upto Rs.2009 crore to Government of India on Preferential Basis and 8699771 equity shares of Rs.10 each for cash at issue price of Rs.23.45 per equity share (including premium of Rs.13.45 per equity share) aggregating upto Rs.202.37 crore to Life Insurance Corporation of India on Preferential Basis. Hence, the paidup capital of the Bank has increased from Rs.1235.35 crore to Rs.1807.27 crore. Government of India’s shareholding has increased from Rs.911.71 crore (73.80%) to Rs.1397.33 crore (77.32%) and the Public shareholding stood at Rs.409.94 crore (22.68%). Further the Bank has allotted more 555714797 equity shares of Rs. 10 each at a premium of Rs.17.91 per share to Government of India on preferential basis which brings the holding to 79.56%

 

Overview:

  • Indian Overseas Bank (the Bank) is engaged in the business of banking.
  • The Bank’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. Its operations consist of domestic deposits; domestic advances; foreign exchange operations; investments; micro, small and medium enterprises, including MUDRA Loan Scheme; retail banking, including Arogya Mahila Savings Bank Accounts; Mid Corporate department; agricultural credit portfolio; loans to small and marginal farmers; loans to non-corporate farmers, and microfinance.
  • Its personal banking services include saving bank, current account, term deposit, retail loans, and mortgages and depository services.
  • It offers merchant banking for issues, debenture trustee, dividend/interest warrant and others. It also offers Internet and mobile banking services.
  • It has over 3,400 branches in India. It has over eight overseas branches with operations in Hong Kong, Bangkok, Sri Lanka, Singapore and South Korea.

 

Capital Adequacy Ratio

  Basel III
CET 1 7.64%
Tier I 8.27%
Tier II 1.88%
Total 10.15%

 

Management:

  • Mr. R. Subramaniakumar – MD & CEO

The Equity Capital is @ Rs 2454.73 Crs consisting of 2454728928 equity Shares of FV Rs 10 currently held as under

None Of the Promoter’s Holding is pledged.

Particulars (Rs.Crs) Q2 FY17 Q1 FY17
Deposists 208058 218484
Advances 159522 165556
Operating Profit 1064 690.55
Net Profit -765.14 -1450.5
Gross NPA 34724 33913
Net NPA 20765 21321
Ratios (%)    
Provision Coverage Ratio 50.19 47.61
Net Interest Margin 2.02 1.87
Credit Deposit Ratio 76.67 75.77
CASA Ratio 30.93 30.17
Cost to Income Ratio 63.62 52.82

 

 

In 2008 the high price was Rs.228.9 and in 2016 it made a low of Rs.21.1.

Year Open (Rs.) High (Rs.) Low (Rs.) Close (Rs.)
2006 94 132.7 65.55 110.7
2007 111.25 199 88.6 178.7
2008 179.5 228.9 60.3 71.75
2009 72.2 141 37.55 110.55
2010 114 176.35 84.8 146.4
2011 147.3 164.2 73.3 73.55
2012 74.2 119 66.2 85.65
2013 86.2 94.85 37.15 51.45
2014 51.55 89.9 42.15 62.2
2015 62 64.75 29.55 30.65
2016 31 32.65 21.1 25.05

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 1807.27 1235.35 1235.35 924.1 796.1 618.75
Networth 15666 15641 16170 13457 11927 9325
Total Debt 27183 18232 24456 23323 23614 19355
Net Sales 26046 26077 24853 22650 19578 13327
Other Income 2528 2139 2169 1973 1681 1225
PAT -3387.17 -454.33 601.74 567.23 1050.13 1072.54
Book Value (Rs) 87 127 131 146 150 151
EPS (Rs) -18.7 -3.7 4.9 6.1 13.2 19.8