MIC Electronics Ltd
Electric Components
FV – Rs 2; 52wks H/L –23.65/12.8; TTQ – 1.69 Lacs; CMP – Rs 14.59 (As On February 8, 2017);                      

            Market Cap – Rs 258 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 – 0.1
2. ROE % – NA
3. Market Cap/Sales – 1.2

MIC Electronics Ltd has informed the BSE that the company has received Letter of Award for supply 20,000 standalone offgrid solar LED street lights at a contract price of ₹32.85 crore. http://www.thehindubusinessline.com/companies/mic-electronics-bags-new-order/article9420373.ece

The company was one of three companies awarded a contract for supply of a new LED-based coach light fixture to the Indian Railways. This is the Railways initial foray into this type of lighting. While this initial order will furnish lights sufficient for 60 coaches, these type of fixtures will now become standard fittings in all new Railway caches and will also be used as retrofit devices in old running coaches. This has a potential market of more than 120,000 coaches for the Indian Railways alone. http://www.thehindubusinessline.com/companies/mic-electronics-gets-patent-for-led-digiposter-bags-order-from-railways/article9080720.ece

Overview:

• MIC Electronics Ltd is a manufacturer of electric lighting equipment.
• The Company is also engaged in manufacturing of light emitting diode (LED) displays and LED lighting. Its LED displays include indoor displays, outdoor displays, mobile displays and application specific displays.
• It offers LED lightings in various ranges, including indoor lighting, solar lighting, outdoor lighting and portables.
• Its indoor LED displays include digital posters and indoor video screens; outdoor LED displays include ticker displays, digital posters, perimeter displays, outdoor video walls and digital billboards; mobile LED displays include displays for trucks and trailers, and application specific LED displays include passenger information displays and digital theme park displays.
• Its indoor lighting includes tube lights and bulbs; solar lighting includes home lights and street lights; outdoor lighting includes parking lights and industrial lights, and portables include angel and lanterns.
• The Company has 3 wholly own subsidiaries namely, MIC Electronics Inc., MIC Green Energy Solutions Pvt Ltd and MIC Candilux Pvt Ltd.

Management:

• M.V. Ramana Rao – MD
• L.N. Malleswara Rao – CFO

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

During current year the company has issued and subscribed 47214848 fully paid up equity shares of Rs.2 each

Sanwaria Agro Oils Ltd
Edible Oils
FV – Rs 1; 52wks H/L –8.65/4.11; TTQ – 28 K; CMP – Rs 7.38 (As On February 6, 2017);                      

            Market Cap – Rs 272 Crs

Standalone 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 – 0.03
2. ROE % – 4.9
3. Market Cap/Sales – 0.1

Overview:

• Sanwaria Agro Oils Ltd is an fast-moving consumer goods (FMCG) food products company.
• The Company is engaged in production of soya oil and de-oiled cake, and production of basmati rice.
• The Company is engaged in seed processing and solvent extraction; refining of crude soy oil to produce refined soy oil; distribution and sale of bulk and branded soy oil; producing and selling of products, such as soy flour, soy chunks (nuggets), soy lecithin and acid oil; producing and selling wheat flour and fortified wheat flour, and trading of other agro commodities, such as wheat, gram and pulses.
• The Company has three brands, namely Sanwaria, Sulabh and Narmada. The Company’s plants are located at Mandideep, Itarsi and Betul.
• “Sulabh” and “Sanwaria” is the lower segment brand to attract the lower middle class and “Narmada” is the premium segment brand to attract middle and upper middle class consumer.
• The Company’s subsidiaries include Sanwaria Singapore Pte. Ltd and Sanwaria Energy Ltd.

Management:

• Gulab Chand Agrawal – Chairman

Major Non – Promoter Holdings:

Standalone Financial Trends (In Rs. Crs) :

During the Financial Year 2015-16, the Company created a one time provision for deterioration in the quality of stock of Soya DOC due to which the Profit after Taxation of the Company stood at Rs. 15.68 Crs as against Rs. 25.03 Crs as in FY 2014-15.

The company has a EBITDA Margin of 4.41% and a PAT Margin of 0.58%.

BSE Ltd (IPO of 29955434 shares of Rs.1 each)

 Face Value – Rs.2

Price Band – Rs.805 – Rs.806

IPO Size – Rs. 1243 Crs (Upper Band) & 1242 Crs (Lower Band)

Offer For Sale – Offer for Sale of 15427197 Equity Shares of Rs 2

New Issue – 5427197 Equity Shares of Rs 2  

BRRLM – Edelweiss, Axis Capital, Jefferies, Nomura, Karvy, Motilal Oswal, SBI Capital Markets, SMC Capital Ltd, Spark Capital Advisors Pvt Ltd.

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

Consolidated Financials and Valuations for H1 FY17

Overview:

• BSE Ltd is the owner and operator of BSE Exchange (Bombay Stock Exchange), India’s largest stock exchange by number of companies listed.
• BSE offers 3 business namely, Listing Business, Market Business and Data Business.
• The Bombay Stock Exchange was established in year 1875 as the first stock exchange in Asia. Today BSE has over 5000 companies listed on it, the highest in any exchange around the world.
• World’s two leading global exchanges, Deutsche Bourse and Singapore Exchange are strategic partners of BSE.
• BSE offers trading in Equity, Debt Instruments, Derivatives, Mutual Funds and SME Equity.
• The S&P BSE SENSEX is India’s most widely tracked stock market benchmark index.
• BSE also offer services including risk management, clearing, settlement, market data services, IT services and solutions, licensing index products such as the S&P BSE SENSEX and financial & capital markets trainings.

BSE Ltd Strengths:

1. Strong brand recognition with a track record of innovation
2. Diversified and integrated business model and active relationship with marketparticipants
3. State-of-the-art infrastructure and technology

 NSE turnover:

Management :

• Ashishkumar Chauhan – MD & CEO
• Sudhakar Rao – Chariman
• Nayan Mehta – CFO

Major Shareholders:

• The entire shareholding of Singapore Exchange is proposed to be offered by it in the Offer and the same is currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
• Of the 4913863 Equity Shares held by GKFF Ventures, 2456931 Equity Shares are proposed to be offered by it in the Offer – and are currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
• The entire shareholding of Quantum (M) Limited is proposed to be offered by it in the Offer and is currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
• Of the 4015544 Equity Shares held by Caldwell India Holdings Inc., 1668906 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
• The entire shareholding of Atticus Mauritius Limited is proposed to be offered by it in the Offer and the same is currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
• Of the 4015544 Equity Shares held by Acacia Banyan Partners Limited, 2000000 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
• Of the 3006796 Equity Shares held by Bajaj Holdings and Investment Limited, 1503398 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.

Consolidated Financial Trends (In Rs.Crs) :

KNR Constructions Ltd
Construction & Engineering
FV – Rs 2; 52wks H/L –201.7/81.6; TTQ – 11.2 Lacs; CMP – Rs 184 (As On January 23, 2017);                      

            Market Cap – Rs 2600 Crs

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

• Promoter stake have decreased to 58.09% from 60.75% in June,2016
• On 13/12/2016 there was a stock split from Rs.10 per share to Rs.2 per share.

Standalone Financials and Valuations for H1 FY17

Valuation Parameters:

1. Long Term Debt to Equity – 0.91
2. ROE % – 18
3. Market Cap/Sales – 0.4

• As on 31st March, 2016, the order book stood at about Rs. 3463 Crs comprising of Rs. 3406 Crs in road sector and Rs. 57 Crs in irrigation projects.
• KNR’s mainstay for revenue is EPC orders for road projects. Its order book has been growing at a fast clip since 2015. It won new orders totalling ₹1,334 crore in 2016-17, taking the total outstanding orders to ₹4,579 crore as of September 2016.
• KNR sold two of its operational annuity-based BOT projects for ₹850 crore in November 2016. The cash will provide capital for construction, and the management has indicated that it is part of its strategy to focus on EPC business.

Overview:

• KNR Constructions Ltd is a multi-domain infrastructure project development company.
• The Company undertakes engineering, procurement and construction (EPC) contracts, as well as build-operate-transfer (BOT) projects across various sectors, such as construction and maintenance of roads, highways, flyovers and bridges.
• Its range of verticals also include irrigation projects, water management, agriculture and trading business.
• It has completed approximately 5,890 kilometers of projects across over 10 states in India.
• Its urban water infrastructure management project is Challaghatta Main Valley Project, which involves the remodeling of primary and secondary storm drains, bridges/culverts and related works in Challaghatta Main Valley in Bangalore City.
• The Company’s irrigation and water management projects include Shankara Samudram Balancing Reservoir, Eastern Kosi Canal system, Reservoir across Mathadivagu and Budpur Balancing Reservoir.

Ongoing Major Projects:

1. Bijapur – Hungung Section of NH – 13 – Karnataka
2. Lumding to Lanka section i/c Lamka Bypass of NH – 54 – Assam
3. Ganjam – Sunakhala of NH – 5 – Orissa
4. Madurai – Kanyakumari of NH – 7 – Tamil Nadu
5. Outer Ring Road , Hyderabad City

Bulk Deals:

Management:

• K. Narasimha Reddy – MD
• K. Jalandhar Reddy – CFO

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

The Company’s Net Profit after Tax and extraordinary expenses during the year was Rs. 126.39 crore as compared to Rs. 69.76 crore in FY15. This exceptional amount was due to Income tax refund of previous years on account of 80IA benefit and interest on tax refund classified as other Income.

Pokarna Ltd
Construction Materials
FV – Rs 10; 52wks H/L –1103.85/660; TTQ – 6 K; CMP – Rs 1060 (As On January 10, 2017);                      

            Market Cap – Rs 657 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 – 1.84
2. ROE % – 53
3. Market Cap/Sales – 1.64

Pokarna Engineered Stone Ltd (PESL) – wholly owned subsidiary of Pokarna Ltd., is India’s largest manufacturer and exporter of engineered stone surfaces.

Pokarna Engineered Stone Ltd (PESL) has partnered IKEA India to serve as its exclusive quartz surfaces supply and installation partner. Under the agreement, Pokarna will supply engineered quartz surfaces countertop and will also undertake measuring, planning, installation and home delivery of its products to IKEA’s customers. http://corporates.bseindia.com/xmldata/corpfiling/AttachHis/171EBA61_3AD9_4F10_880F_D3172BD257EA_154057.pdf

(IKEA is the world’s largest home furnishing company with about 389 stores across 46 countries and sales of €34.2 billion.) 

Overview:

• Pokarna Ltd is engaged in processing and sale of granite slabs, and mining and sale of granite blocks.
• The Company offers natural stones surfaces.
• The Company operates through two segments: Granite and Apparel.
• The Company is an exporter of granite and quartz surfaces.
• Its color palette includes over 75 varieties of granite sourced primarily from captive quarries.
• The Company’s quarries produce colors, such as Acacia, Black Galaxy, Coffee Brown, Flash Blue, Pokarna Green, Sapphire Blue, Seaweed Green, Silver Pearl and Vizag Blue.
• It exports to over 50 countries.
• The Company has manufacturing facilities in Telangana and Andhra Pradesh.
• The Company markets quartz surfaces under the brand Quantra.
• The Company also manufactures apparels and markets under its brand STANZA.
• The Company operates over eight outlets.
• The Company has a quartz manufacturing plant located at Vishakhapatnam, Andhra Pradesh, India.

Management:

• Gautam Chand Jain – CMD
• M. Viswanatha Reddy – CFO

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

Deepak Fertilisers & Petrochemicals Corporation Ltd
Commodity Chemicals
FV – Rs 10; 52wks H/L –253.45/128.15; TTQ – 50 K; CMP – Rs 221 (As On January 4, 2017);                      

            Market Cap – Rs 1951 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 – 0.32
2. ROE % – 7.5
3. Market Cap/Sales – 0.44

• In 2015-16, the total sales volume fornitric acid saw an increase of 9 percent year-on-year (YOY) and concentrated nitric acid reported highest ever production and sales.
• Deepak Fertilisers to set up nitric acid plant in Dahej with Rs 550-Cr investment. http://www.business-standard.com/content/b2b-chemicals/deepak-fertilisers-to-set-up-nitric-acid-plant-in-dahej-with-rs-550-cr-investment-116080500249_1.html

• Deepak Fertilisers’ current capacity is close to 840,000 metric tonne per annum (MTPA), but most of which is used for captive consumption with only 160,000 MTPA available for merchant sale. With the new Dahej plant, the company will be able to provide an incremental 148,000 MTPA.

Overview:

• Deepak Fertilisers and Petrochemicals Corporation Ltd is a manufacturer of fertilizers.
• The Company’s segments include Chemicals, which offers products, such as ammonia, methanol, dilute nitric acid (DNA), concentrated nitric acid (CAN), carbon dioxide (CO2), technical ammonium nitrate (TAN), iso propyl alcohol (IPA), propane, and bulk and specialty chemicals; Bulk Fertilisers, which offers products, including nitro phosphate (NP), muriate of potash (MOP), diammonium phosphate (DAP), ammonium sulfate, mixtures, single superphosphate (SSP), sulfur, micronutrients, bio fertilizers, fruits, vegetables and pesticides; Realty, which includes real estate business, and Others, which provides windmill power.
• Its principal products/services include Nitrophosphate (Fertilisers), Complexes (Fertilisers) and TAN.
• Its primary brand is Mahadhan. It manufactures prilled nitro phosphate fertilizer under the brand name Mahadhan Mahapower.

Management:

• S. C. Mehta – CMD
• Vipin Agarwal – CFO

The Equity Capital is @ Rs 88.2 Crs consisting of 88204943 equity Shares of FV Rs 10 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non – Promoter Holdings:

Consolidated Financial Trends (In Rs. Crs) :

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)

Standalone Financials and Valuations for H1 FY17

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 on23^rdDecember,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:

Standalone Financial Trends (In Rs. Crs) :

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)

Standalone Financials and Valuations for H1 FY17

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:

Consolidated Financial Trends (In Rs. Crs) :

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)

Standalone Financials and Valuations for H1 FY17

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:

Consolidated Financial Trends (In Rs. Crs) :