Nirlon Ltd
Misc. Commercial Services
FV – Rs 10; 52wks H/L –213.9/153; TTQ – 273; CMP – Rs 192(As On March 9 2016; 11:30) ;
Market Cap – Rs 1734.77 Crs
Standalone Financials and Valuations for 9Months FY16 (Amt in Rs.Crs unless specified)
Equity Capital |
Net worth |
Long Term Debt | Total Sales |
PAT | BV (Rs) |
TTM EPS (Rs) |
TTM P/E |
Industry P/E |
P/BV |
Promoter’s Stake |
Beta |
| 90.08 | 1541 | 594 | 215 | 54.96 | 171 | 8.8 | 21.8 | 19.92 | 1.1 | 71.59 | 0.85 |
Standalone Financials and Valuations for FY15 (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 |
| 90.08 | 1420 | 615 | 241 | 32.58 | 158 | 3.62 | 53.1 | 19.92 | 1.2 | 71.59 | 0.85 |
Valuation Parameters:
- Market Cap/Sales – 7.2
- Long Term Debt to Equity – 0.4
- ROE% – 2.3
The company declared dividend of Rs. 0.75 (7.5%) in 2014 during first time since 1985.
The boards of directors of Nirlon Ltd approved proposal for expansion of Phase V of NKP and to raise funds of Rs. 500 Crs from HDFC.
GIC raises stake in Mumbai IT park Nirlon to 63.9% for $90M through open offer.
Overview:
- Nirlon Ltd is engaged in the business of development of an industrial park/information technology (IT) Park and is involved in licensing of immovable property.
- The Company is an owner of Nirlon Knowledge Park (NKP), a 23 acre campus located in Goregaon (East), Mumbai. A total of approximately 29.46 lakh square feet has been constructed in Phases I, II, III and IV corresponding to approximately 18.78 lakh square feet licensable area. The Company is in the process of conceptualizing, planning and evaluating the feasibility of further development/re-development of its existing old buildings in NKP (Phase V).
- The total constructed area for Phases I, II, III and IV includes two levels of basements in Phase I, II and III and one level of basement, the ground floor (part), mezzanine and four upper levels of parking in Phase IV, as well as a 10 floor multi-level car parking (MLCP) housing the utilities, such as generator, chillers, water tanks and electrical infrastructure.
Management:
- Mr. Moosa Raza – Chairman
- Mr. Manish Parikh – CFO
Major Non-Promoter Holdings:
| Sr.No | Non – Promoters | No. of Shares held | % of shares held |
| 1 | Rajasthan Global Securities Limited | 966551 | 1.07 |
| 2 | Ares Diversified | 1157630 | 1.28 |
| 3 | Gulu C Waney | 2670247 | 2.96 |
| 4 | Albula Investment Fund Ltd. | 1135476 | 1.26 |
| Total | 5929904 | 6.58 |
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Standalone Financial Trends (In Rs.Crs) :
| Particulars | FY15 | FY14 | FY13 | FY12 | FY11 |
| Equity Paid Up | 90.08 | 89.4 | 71.77 | 71.77 | 58.22 |
| Networth | 1420 | 1745 | 1661 | 1668 | 121 |
| Total Debt | 647 | 603 | 653 | 537 | 594 |
| Net Sales | 241 | 203 | 162 | 142 | 153 |
| Other Income | 2 | 2 | 2 | 5 | 42 |
| PAT | 32.58 | 31.64 | 12.03 | -19.64 | 0.36 |
| Book Value (Rs) | 158 | 195 | 231 | 232 | 21 |
| EPS (Rs) | 3.62 | 3.54 | 1.68 | -2.74 | 0.06 |
