Scrip Watch

Nirlon Ltd

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

Nirlon Ltd

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:

  1. Market Cap/Sales – 7.2
  2. Long Term Debt to Equity – 0.4
  3. 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.

(http://articles.economictimes.indiatimes.com/2016-01-30/news/70201048_1_1980s-nirlon-rs-500-crore-hdfc)

GIC raises stake in Mumbai IT park Nirlon to 63.9% for $90M through open offer.

(http://www.vccircle.com/news/real-estate/2015/04/23/gic-raises-stake-mumbai-it-park-nirlon-639-90m-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
 

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

 

 

 

 

 

 

 

 

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