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)

Standalone Financials and Valuations for H1 FY17

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.

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:

Consolidated Financial Trends (In Rs. Crs) :

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.

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)

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

• 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

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.

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

Consolidated Financial Trends (In Rs. Crs) :

Store One Retail India Ltd
Department Stores
FV – Rs 10; 52wks H/L –247.5/28.15; TTQ – 9 K; CMP – Rs 101.5 (As On November 28th 2016; 11.20);                             

     Market Cap – Rs 280 Crs

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

Standalone Financials and Valuations for H1 FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.2
2. ROE % – 26
3. Market Cap/Sales – 1.07

• Store One Retail India Ltd (formerly known as Indiabulls Retail Services Ltd) is the retail arm of Indiabulls Group, a business conglomerate catering to the entire Indian consumption space. The company operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. They are engaged in retail business of lifestyle, food, home and personal care products.

• The Company has explored and developed expertise in all avenues of management and maintenance of properties. Current projects span more than approx. 7 million square feet of high end commercial and residential space. Some of the prominent projects are One Indiabulls Centre (Mumbai), Indiabulls Finance Centre (Mumbai), Chennai Greens (Chennai), One Indiabulls Park (Chennai), and Gurgaon Centrum Park (Gurgaon.)

Overview:

• Store One Retail India Ltd is engaged in providing management and maintenance services, and equipment hiring services.
• The Company is involved in construction, advisory and other related activities. Its segments include Management and Maintenance Services, Equipment Hiring Services, and Construction, advisory and other related activities.
• The Management and Maintenance Services segment is engaged in management and maintenance of properties.
• The Equipment Hiring Services segment is engaged in the development and construction of infrastructure and real estate by renting out equipment in various categories, including concrete, Earth moving, transport, energy, lifting, steel cutting and highway.
• The Construction advisory and other related activities segment provides advisory services pertaining to identification and acquisition of land, project planning, design management, construction, execution, maintenance and management of completed projects

 Management:

• Mr. Pia Johnson  –  Executive Director
• Mr. Viay Kumar Agrawal – CFO

Consolidated Financial Trends (In Rs. Crs) :

Hathway Cable & Datacom Ltd
Broadcasting & Cable TV
FV – Rs 2; 52wks H/L –48/24; TTQ – 1.18 Lacs; CMP – Rs 34 (As On November 23rd 2016; 12.30);                            

      Market Cap – Rs 2832 Crs

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

Standalone Financials and Valuations for Q1 FY17

*On 6/1/2015 there was stock split from Rs.10 to Rs.2 per share

Valuation Parameters:

1. Long Term Debt to Equity – 0.8
2. ROE % – Nil
3. Market Cap/Sales – 1.35

India’s largest cable broadband service provider with approximately 3.3 million two-way broadband homes passes and more than 40% share of the total cable broadband market in India.

• The company has crossed 7 Lakhs Broadband subscribers.
• Extensive network connecting 12.3 million CATV households and 10.6 million digital cable subscribers.
• More than 10.6 million Set-Top Boxes (STBs) seeded across the country.

Company Updates:

• For the quarter 0.6 Mn STBs deployed at consolidated level (0.2 Mn STBs at Standalone) total DAS III subscribers base reaches 4.7Mn.
• CATV subscription revenue for Standalone stood at Rs. 117.7 Cr (YoY + 12%)
• Standalone ARPU for Phase I and II is Rs. 105 and Rs. 86 respectively.
• Supreme Court has moved all stay petition granting extension for implementation of DAS III to Delhi High Court; the next hearing is schedule on 6 & 7 th September 2016.
• Due to pending court decision, DAS III standalone 2.2 Mn + subscribers monetisation stood at Rs 25 – 30 per subscriber against overall content cost Rs 30 per Subscriber and other overhead Rs 20 Per subscriber.
• A dedicated 24/7 spiritual channel christened “Divine” launched on 1 st Sept 2016.
• 50% of standalone phase I & II customer base has moved to Hathway Connect.
• Launch of Hathway Connect Mobile APP, enables LCOs to manage their business from anywhere, this shall speedup servicing of subscribers.

Overview:

• Hathway Bhawani Cabletel and Datacom Ltd is engaged in distribution of television channels through analog and digital cable distribution network and Internet services through cable.
• The Company offers cable television services and broadband services.
• It provides cable television services across over 140 cities and towns, and high-speed cable broadband services in approximately 21 cities.
• The Company’s digital cable television products include High Definition Personal Video Recorder (HD PVR), Hathway HD and Hathway Standard definition (SD).
• The Company offers a range of kids channels, infotainment channels, English and business news channels, English entertainment and music channels, English movies channels and sports channels. It provides home broadband and business broadband.
• Its Fiber Broadband plans for Home Users include HD Elite, HD3 Stream50, HD Bliss, HD4 Stream50 and Infinite 2Mbps Unlimited.
• It offers fiber Internet services and multi office connectivity for its clients.

Management:

• Mr. Sridhar Gorthi – Chairman
• Mr. Jagdishkumar G. Pillai – MD & CEO

The Equity Capital is @ Rs 166.1 Crs consisting of 830494500 equity Shares of FV Rs 2 currently held 

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

In FY14 678495600 equity shares were issued at a face value of Rs.10 per share.

CATV and Broadband revenue have increased by 13% and 61% respectively, on YoY basis

Risks:

• Stay orders of various High Courts has impacted seeding plan in DAS III areas.
• Further extension or refusal to vacate the stay will create hurdles in the expansion plan.
• The competition in broadband space may intensify over time due to existing and new players which may impact ARPUs and start a price war.

Pricol Ltd
Autoparts & Equipment
FV – Rs 1; 52wks H/L –132.15/34; TTQ – 65 K; CMP – Rs 78.65 (As On November 22nd 2016; 12.30);                                  

Market Cap – Rs 746 Crs

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

Standalone Financials and Valuations for H1 FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.2
2. ROE % – 5
3. Market Cap/Sales – 0.5

• With reference to the earlier letter dated November 01, 2016, Pricol Ltd has now informed BSE that the name of the Company has been changed from “Pricol Pune Limited” to “Pricol Limited” with effect from November 18, 2016 pursuant to the order received from Hon’ble High Court, Madras approving the scheme of amalgamation of Pricol Limited with Pricol Pune Limited and compliance with the filing requirements under Companies Act, 2013.
• Pricol being market leader in Speed Limiting Devices hopes to benefit from the recent notifications in some of the States on retro-fitting of speed limiters in used commercial vehicles.
• Pricol is expected to outgrow the auto industry on account of large basket of products that serve different segments within the industry.

Overview:

• Pricol Ltd offers oil pumps and auto components for motor vehicles, motor cycles and three wheelers.
• The Company operates through automotive components segment.
• It offers products for Two Wheelers, such as Auto Fuel Cocks, Chain Tensioners, Fuel Level Sensors, Instrument Clusters and Speed Sensors; Four Wheelers, including Analog Clocks, Brake Light Switches, Temperature Sensors and Top Dash Tachometers; Tractors, Construction & Industrial, including Neutral Safety Switches, Gauges, Hour Meters, Pressure Sensors and Warning Indicators; Commercial Vehicles, including Vacuum Switches, Vehicle Tracking System, Hydraulic Cab Tilt System and Digital Tachograph; Fleet Management Solutions, such as Road Speed Warning System, Journey Risk Management and Centralised Lubrication System; Tooling Solutions, such as Mould & Press Tool Design, Mould Testing, and FAI Report and Documentation, and Sintered Components, such as Hubs, Valve Plates, Oil-less Bearings and Ferrous Carbon based Alloys.

Subsidiaries:

1. PT Pricol Surya Indonesia – The Company’s customers are 2 Wheeler manufacturers to whom Instrument Clusters are supplied. The company has achieved a sales 85 Crs as against the previous year sales 96 Crs. The sales drop in INR terms was 12% mainly due depreciation of Indonesian Rupiah.
2. Pricol Asia Pte Limited, Singapore – This purchasing arm of the Company mainly assists in global procurement of raw materials and components to supply our Company and associate companies. During the year the company achieved sales of 124 Crs as against the previous year sales of 104 Crs. The company made a profit of 2 Crs during the year 2015 – 16 as against 1 Cr in 2014 – 15.
3. Pricol Espana Sociedad Limitada, Spain – It is an investment arm of Pricol to acquire companies in Europe and America. During the financial year, the company has incurred a loss of 0.3 Crs mainly due to bank charges. It is a one time charge. Its income mainly from interest from Pricol do Brasil stood at 1 Cr.
4. Pricol do Brasil Componentes Automotivos LtdA, Brazil – Pricol do Brasil Componentes Automotivos LtdA (PdB) serves wide range of Domestic and International customers such as Volkswagen, Fiat, Fiat Powertrain, General Motors, Harley Davidson, Mack Trucks etc. PdB has a strong backward integrated facility with diverse manufacturing capabilities (Die Casting, Machining and Assembly) and extensive Testing and Validation facilities to provide end to end solution and add value to the Customer. The sales went down from previous year 171 Crs to 130 Crs a drop of 13.08% and ended with a loss of 46 Crs.
5. Pricol Pune Limited (Formerly, Johnson Controls Pricol Private Limited) – The Wholly Owned Subsidiary Company supplies Instrument Clusters to 2 Wheelers by Bajaj Auto in the Western Region and Personal Passenger Car and Utility Vehicles manufactured by Renault Nissan, Tata Motors, Mahindra & Mahindra, General Motors India and FIAT India. The sales increased from 97 Crs to 122 Crs due to better market conditions as well as sales to Kwid model of Renault and made a net profit of 9 Crs during the financial year 2015-16 against the net loss of 13 Crs.

 Management:

• Mr. Viajy Mohan  – Chairman
• Mr. Vikram Mohan – MD

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

Polyplex Corporation Ltd
Commodity Chemicals
FV – Rs 10; 52wks H/L –378.8/195.9; TTQ – 4 K; CMP – Rs 346 (As On November 15th 2016; 13.00);                                

  Market Cap – Rs 1094 Crs

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

Consolidated Financials and Valuations for H1 FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.31
2. ROE % – 1.25
3. Market Cap/Sales – 0.34

The effective stake of Poylplex Corporation in Polyplex Thailand has increased to 54.08% from 51% earlier, the release added. The rights offering of shares has been made by Polyplex Thailand, at a price of Baht 6.40 per share of the face value of Baht 1.00 each. (http://www.business-standard.com/article/markets/polyplex-corporation-gains-on-raising-stake-in-overseas-arm-116061000316_1.html)

Polyplex ltd enjoys a global manufacturing presence across 5 locations in 4 countries and caters to around 1600 customers across 86 countries.

The Company is in the process of installing a new metalliser in India with an annual capacity of 8100 metric tonnes to widen the portfolio of metalised films. (Production expected to begin from Q2 Fy16-17)

Overview:

• Polyplex CorporationLtd is a manufacturer of thin polyester terephthalate (PET) films.
• The Company manufactures plastic films and resins. Its geographical segments include India and Outside India.
• Its business portfolio includes biaxially oriented polypropylene (BOPP) films and cast polypropylene (CPP) films.
• Its product lines consist of Sarafil, including BOPET films and BLOWN PP films; Saracote, including silicone coated films (PET/PP); Saralam, including extrusion coated film products, and Saraprint, including polyester films for digital print media sector.
• Its product applications include packaging, such as film for flexible pouches, peel-able seals and lids; industrial and specialties, such as labels, lamination films and medical test strips; electrical, such as thermal printing tapes and membrane touch switches; imaging, such as overhead transparencies and business graphics, and magnetics, such as video tape and audio cassette tape.

Management:

• Mr. Sanjeev Saraf  – Chairman

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

GSFC Ltd
Fertilizers
FV – Rs 2; 52wks H/L –98.7/57.65; TTQ – 4.34 Lacs; CMP – Rs 97.05  (As On October 21st 2016; 11.00);                                 

 Market Cap – Rs3857 Crs

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

Standalone Financials and Valuations for Q1 FY17

*In Sept,2012 there was a stock split from Rs.10 to Rs.2 per share.

Valuation Parameters:

1. Long Term Debt to Equity – 0.02
2. ROE % – 8.1
3. Market Cap/Sales – 0.62

GSFC is India’s largest producer of the chemical Caprolactam and also has a leading position in the complex fertiliser.

Gujarat State Fertilisers and Chemicals Ltd explores setting up urea plant in Congo. (1.3 million tonne urea plant in Iran and a consortium of Indian fertiliser firms has shortlisted Iran’s Falat Group Co. to set the Rs.5,000 crore joint venture (JV) urea manufacturing plant. )

http://www.vccircle.com/infracircle/gujarat-state-fertilisers-chemicals-ltd-explores-setting-urea-plant-congo/

Urea manufacturing plants have made the record production of 411431 tonnes during FY 2015-16.

Overview:

• Established in the year 1962, Gujarat State Fertilizers and Chemicals Limited is a leading fertilisers and industrial chemical products manufacturer.
• The Company is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.
• GSFC operates in two segments: Fertilizer Products and Industrial Products.
• Its fertilizer products include urea, ammonium sulphate, di-ammonium phosphate, ammonium phosphate sulphate, nitrogen phosphorus and potassium (NPK) and traded fertilizer products.
• GSFC Industrial Products include caprolactam, nylon-6, nylon filament yarn, nylon chips, melamine, polymer products and traded industrial products.
• Manufacturing facilities of the Company are located at Vadodara, Surat and Jamnagar in Gujarat.

Projects Under Execution:

Projects Under consideration:

Management:

• Mr. A M Tiwari  – MD
• Mr. G R Aloria – Chairman
• Mr. V. D. Nanavaty  – CFO

The Equity Capital is @ Rs 79.7 Crs consisting of 398477530 equity Shares of FV Rs 2 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non-Promoter Holdings:

Snapshot of Prices since 2000 :

Consolidated Financial Trends (In Rs. Crs) :

Provogue (India)  Ltd
Realty
FV – Rs 1; 52wks H/L –9.99/2.90; TTQ – 65 K; CMP – Rs 5 (As On October 19th 2016; 15.00);                               

   Market Cap – Rs 116 Crs

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

Standalone Financials and Valuations for Q1 FY17

• Promoter holding has decreased considerably from 41.25% in June,16 to 20.21 as on 17 August,16

 Valuation Parameters:

1. Long Term Debt to Equity – 0.2
2. ROE % – (67)
3. Market Cap/Sales – 0.22

During the previous year, the Company has received part of insurance claim amounting to Rs.10.42 Crs against loss due to a major fire occurred in February 2014 at one of the Company’s Plant located at Daman.

Cash-strapped Provogue shuts over 60 stores in 1 year

http://www.financialexpress.com/industry/companies/cash-strapped-provogue-shuts-over-60-stores-in-1-year/233048/

The company on 9^th Aug, 2016 allotted 119024732 shares of Rs.1 per share to SDR lenders at Rs.7.66 per share (Rs.91.17 Crs) which entitles them to hold 51% of post allotment paid up share capital of the company.

In October 2008 the stock split from Rs.10 to Rs.2 and further to Rs.1

1 —– 10

5 —— 2

In October it made a high of Rs.1460 of Face value Rs.10 each. Rs.1460 in 2008 of 1 share each comes to Rs.50 today for 10 shares of face value Rs.1 each.

The old Capital comprised of 14 % which has increased to 25% respectively.

The debt of Rs.305 Crs will come down to Rs. 214 Crs due to SDR issue to lenders which amounted to Rs.91 Crs.

Overview:

• Provogue (India) Ltd is engaged in the business of manufacturing, trading of garments, fashion accessories, textile products and related materials.
• The Company’s segments include Domestic and Exports.
• The Company offers shirts, t-shirts, jackets, suits and blazers, sweaters and sweatshirts, jeans, trousers and chinos, shorts, socks, sunglasses, and shoes and trainers for men, and dresses, shirts and blouses, t-shirts and knitted tops, and fragrances for women.
• The Company is a manufacturer and retailer of apparel under the brand Provogue.
• The Company retails its products through Provogue stores, shop-in-shop outlets in national chain stores, and multi brand outlets.
• The Company operates under 4 business units, namely — Fashion & Lifestyle, FMCG Personal Care, Institutional Sales and Provogue.com.
• The Company has 14 subsidiary companies including step-down subsidiaries and 2 foreign subsidiaries.

Significant valuations attached to ‘Prozone’

Having significant experience in the retail business, Provogue is also leveraging its skill set by participating in the development of the high growth, organized retail infrastructure sector through its subsidiary Prozone Enterprises Pvt Ltd. Prozone intends to tap the early mover advantage through focus on unserviced consumer base in Tier II cities.

Management:

• Mr. Nikhil Chaturvedi – MD
• Mr. Deep Gupta – CFO

Bulk Deals:

Major Non-Promoter Holdings:

Snapshot of Prices since 2005 :

Consolidated Financial Trends (In Rs. Crs) :

YOY % :

Risks:

• Too much dependency on brand ‘Provogue’: Although the company has created a very strong brand for itself, any loss in brand equity or damage will affect the business of the organization.
• Delay in planned expansion: Any delay in expansion of stores across formats could impact our estimates and would be a downside risk to our recommendation.
• Delay in project completion in Prozone: Any delay in completion of projects in reatil segment might correspondingly impact the hotel and commercial development as well as further phases of development. This may have a negative impact on the valuation of Prozone.

 Prozone Intu Properties Ltd

Realty
FV – Rs 2; 52wks H/L –38.75/23.5; TTQ – 15.86 Lacs; CMP – Rs 38 (As On October 18th 2016; 11.30);                         

         Market Cap – Rs 571.5 Crs

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

Standalone Financials and Valuations for Q1 FY17

 Valuation Parameters:

1. Long Term Debt to Equity – 0.40
2. ROE % – 1.3
3. Market Cap/Sales – 6

Radhakrishna Damami has bought 19.7 lakh equity shares of the company during July –September quarter.

http://www.moneycontrol.com/news/buzzing-stocks/prozone-indu-zooms-20-after-radhakishan-damani-picksstake_7633121.html

Key Updates:

• Key Business Strategy – Develop Large scale Land Parcels for Mixed Use development with 75% of the Land to be developed as Residential & Commercial – Build & Sell model whereas 25% of the Land to be developed as Retail – Build & Lease Model.
• The Company has 17.79 mn sq. ft. of Fully Paid Upland bank in prime locations with 1.2 mn developed till date and more than 16.5 mn sq. ft. balance to be monetized which is being developed in different phases .
• Robust Balance sheet with Low Leverage at 0.35x.
• At current valuation, the Land bank valuation for the company is expected to be Rs. 20,000 mn.
• The Company owns six land banks in strategic city locations across the country comprising a total of 17.8 million square feet of developable area.

Projects in Pipeline:

1. Residential Properties in Nagpur (Prozone Palms township is being developed in 2 phases and Phase 1 of the same is spread over 11 acres of land with 2001608 sq. ft. of saleable area. Prozone Palms offers 14-storey towers with a total of 1176 flats with a wide range of luxurious 2 BHK, 3 BHK & 4 BHK apartments meticulously planned for spacious living.)
2. Indore (Prozone Palms township is being developed in 2 phases and Phase 1 of the same is spread over 11 acres of land with 2361662 sq. ft. of saleable area. Prozone Palms phase 1 offers 18-storey towers with a total of 1574 flats with a wide range of luxurious 2 BHK, 3 BHK & 4 BHK apartments meticulously planned for spacious living.)
3. Coimbatore (Retail development to have 664000 sq ft of GLA spread over 2 phases. Prozone Palms township is being developed in single phase and is spread over 11 acres of land with 1512000 sq. ft. of saleable area. Prozone Palms phase 1 offers 18-storey towers with a total of 1088 flats with a wide range of luxurious 2 BHK, 3 BHK & 4 BHK apartments meticulously planned for spacious living.)

All of these are luxurious retail townships with premium Clubhouse Infrastructure like as kids play area, meditation centre, aroma garden, therapeutic walk, multipurpose court, swimming pool, jacuzzi, barbeque pavilion, outdoor dining plaza, jogging/cycling track, amphitheatre etc.

Overview:

• Prozone Intu Properties Limited is an India-based retail and residential-led mixed-use real estate development company. The Company is engaged in the business of designing, developing, owning and operating of shopping malls, commercial and residential premises.
• It owns 15 properties, 10 of the top 25 shopping centers with a dominant market share. It is a joint venture between Provogue (India) Ltd and Capital Shopping Centres Plc.
• The Company operates in two segments: leasing and outright sales.
• Prozone Intu Properties Ltd. (Prozone Intu) is jointly developed by Provogue (India) Limited and Intu Properties Plc set up to create, develop and manage world-class regional shopping centres and associated mixed-use developments Pan-India.
• Prozone Intu strategy is to participate and dominate in the retail space in Tier 2 and 3 cities in which robust urbanization is expected, which will result in growth of consuming middle class from 300 to 500 million in next 5 years.
• Intu Properties is UK’s Largest Retail Real Estate Company.
• Intu Properties plc is a UK FTSE 100 listed Company owning and managing assets worth more than 8.9 bn pounds. They own 17 properties, 12 of which are among the top 25 shopping centers in the UK, representing ~ 38% UK market share.
• Intu Properties plc has more than 21mn sqft of retail space; 400 million customer visits a year.

The Company subsidiaries include Alliance Mall Developers Co Private Limited (AMDPL), Omni Infrastructure Private Limited (OIPL), Hagwood Commercial Developers Private Limited (HCDPL), Empire Mall Private Limited(EMPL), Royal Mall Private Limited(RMPL) , Jaipur Festival City Private Limited (JFCPL) and Kruti Multitrade Private Limited (KMPL).

Management:

• Nikhil Chaturvedi – MD
• Salil Chaturvedi– Deputy MD
• Punit Goenka – Chairman
• Anurag Garg – CFO

Major Non-Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

The Company does not have any Short term Borrowings. Total Debt is all Long term Debt.

Risks:
E-Commerce Players coming in according to which there is a huge threat to stores in shopping malls as people are preferring online rather than offline which is a major risk. Other risks involved are:

• Brand Risk , Business Risk and Economic Risk.
• Real estate being capital intensive industry has strong correlation with domestic and global growth and slowdown can restrain fresh demand and availability of capital.
• Delay in execution of the project can result in cost overruns which in turn impacts company’s reputation and returns.
• Delay in land acquisition due to internal factors can affect the company.
• Contractor or Sub- Contractor issues regarding commitments made earlier.
• Volatility of prices in the real estate sector. ( Most projects are sold on’ no price escalation’ basis)
• Regulations of the government and REITs. (Real Estate Investment Trusts.)

Kisan Mouldings Ltd
Plastic Products
FV – Rs 10; 52wks H/L –52/16.55; TTQ – 25; CMP – Rs 52 (As On October 17th 2016; 11:30) ;

Market Cap – Rs 111.61 Crs

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

Standalone Financials and Valuations for Q1 FY17 (Amt in Rs Crs unless specified)

• Promoter holding has decreased considerably to 51.23 in Sept,16 from 68.96 in June,16

The company eyes Rs.1000 Crs turnover by FY 2018.

(http://www.business-standard.com/article/pti-stories/kisan-mouldings-eyes-rs-1-000-cr-turnover-by-fy18-115052001141_1.html)

On 18^th April 2016 the members have approved preferential allotment of 1381000 shares of the company.

On 21^st September 2016 the members of the Committee have approved the allotment of 7400000 Equity Shares of Rs. 10 each at a price of Rs. 40/- (inclusive of premium Rs. 30/-) on preferential basis. http://corporates.bseindia.com/xml-data/corpfiling/AttachHis/9E8865EB_9EA6_4739_B34A_BFE63361ED19_153335.pdf

Overview:

Kisan Mouldings Limited (KML) is one of India’s largest plastics companies, processing around 50,000 metric tonnes of polymer each year. 

• Kisan Mouldings Limited is an India-based manufacturer of polyvinyl chloride (PVC) pipes, fittings and allied products.
• The Company’s segments include Pipes and Fittings, and Moulded Furniture.
• The Company’s pipes are used for water supply, sanitation, sewerage, construction, cable ducting, drinking water, tube wells, submersible pumps and various polymer products.
• The Company is also engaged in manufacturing of molded furniture.
• The Company’s pipes include rigid unplasticized polyvinyl chloride (uPVC) pipes; soil, waste and rain water (SWR) pipes, free flow uPVC plumbing pipes (American Society for Testing and Materials (ASTM)), high density polyethylene (HDPE) pipes, submersible pipes and underground drainage pipes, among others. The Company’s products include fittings, chlorinated polyvinyl chloride (CPVC) plumbing system, composite piping system, irrigation systems, Kisan barish rain water system, furniture, solvent cement, rubber lubricants, and cisterns and seat covers.

KML has decided to restructure its manufacturing footprint and is now focusing on reallocating capacities from various units to the core units in Tarapur and Tumkur. This will allow for lower order completion times and better economies of scale.

The Company has experienced a reduction of sales of about 16% in terms of Value. From a segmental point of view, Agricultural PVC Pipes have declined by over 30% in terms of Value.

Clientele:

• Shirke
• Indian Petrochemicals Ltd
• Hiranandani
• Lloyds Group
• Peninsula Land
• Raheja Corp
• Voltas
• Evershine
• HCC
• L &T
• Shapoorji Pallonji
• Tata
• Hindalco
• TCS
• Brigade Group
• Bhel
• Others

Industry Updates:

• India’s plastics industry is projected to grow dramatically in the coming years.
• There is a huge potential to grow business not only for catering to domestic demand but also for catering to global demand of plastics products and is obvious that the country will remain one of the largest sources of additional demand for almost all kinds of plastics and plastics products for major usages i.e. domestic, industrial and agriculture.
• Polymer consumption in the country has witnessed a growth in the year under review but there was tremendous volatility in the Polymer prices during the preceding year, owing to the drastic changes in crude prices.

Management:

• Mr. Vijay Aggarwal – Chairman
• Mr. Ashok Aggarwal – MD
• Mr. Suresh Purohit – CFO

Bulk Deals :

Major Non-Promoter Holdings:

Standalone Financial Trends (In Rs.Crs):