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SECURITY ANALYSIS

&
PORTFOLIO
MANAGEMENT

CIA 1 COMPONENT 1

Submitted By: -
Siddhant Singh 1720371
Mehul Bothra 1720367
COMPANY NAME:
INDIABULLS HOUSING
FINANCE
COMPANY PROFILE
Indiabulls Housing Finance Limited is a mortgage lender which is headquartered in New
Delhi, India. It is India's second largest housing finance company and is regulated by
the National Housing Bank. It is part of Sameer Gehlaut's Indiabulls group and contributes
approximately 80% of the group’s turnover.

On 5 April 2019, the board of Indiabulls Housing Finance approved a merger with private
sector bank Lakshmi Vilas Bank. Indiabulls shareholders will receive a 90.5% stake in the
consolidated entity, to be called Indiabulls Lakshmi Vilas Bank, and LVB will receive the
remaining 9.5%. The merged entity will create a net worth of ₹19,472 crore and a loan book
₹1,23,393 crore for the nine months of FY1920.

COMPANY PROFILE OF INDIABULLS HOUSING FINANCE, NSE, INDIA


Date of Incorporation 10-May-2005
Date of Listing 23-Jul-2013
Management
Name Designation
Ashwini Omprakash Kumar Deputy Managing Director
Ajit Kumar Mittal Executive Director
Sameer Gehlaut Founder & Executive Chairman
Shamsher Singh Ahlawat Independent Director
Prem Prakash Mirdha Independent Director
Labh Singh Sitara Independent Director
Gyan Sudha Misra Independent Director
Bisheshwar Prasad Singh Independent Director
Kamalesh Shailesh Chandra Chakrabarty Independent Director
Manjari Ashok Kacker Non Executive Director
Gagan Banga Vice Chairman & Mng.Director
Registered Office Address
M-62 & 63,First Floor,Connaught Place,, 110001, New Delhi, Delhi, India,
Website
http://www.indiabullshomeloans.com
SHARE HOLDING PATTERN

Shareholding Pattern Mar-19 Dec-18 Sep-18 Jun-18 Mar-18

Promoter and Promoter Group (%) 21.52 21.53 21.56 21.57 23.49

Indian 21.52 21.53 21.56 21.57 23.49

Foreign NIL NIL NIL NIL NIL

Institutions (%) 68.87 68.92 69.13 68.52 67.36

FII 55.85 55.31 55.16 54.03 53.26

DII 13.02 13.61 13.97 14.49 14.10

NonInstitutions (%) 9.61 9.55 9.31 9.91 9.15

Bodies Corporate NIL NIL NIL NIL NIL

Others 9.00 8.91 8.66 9.35 8.54

Custodians 0.61 0.64 0.66 0.56 0.61

Total no. of shares (cr.) 42.74 42.74 42.67 42.66 42.65

INTERPRETATION

1. The highest % of shareholdings are under the institutions which are divided into Foreign
institutional investors (FII) and Domestic institutional investors (DII). It is seen that the
shareholdings by Institutions have increased from Mar 18 to Dec 18 but has decreased
in Mar 19
2. The company doesn’t have any foreign promoter, the promoters consist of only Indian
promoters.
3. The total number of share issued till Mar 19 is 42.74 crores.
RATIO ANALYSIS
Name Ratio Good/Not Good Description

14.01 > 2 is Good, A liquidity ratio that


< 2 is Not Good measures a
companys ability to
pay short-term
obligations. The
Current Ratio (x)
higher the current
ratio, the more
capable the company
is of paying its
obligations.

13.99 > 1 is Good, The quick ratio


< 1 is Not Good measures a
company's ability to
meet its short-term
obligations with its
Quick Ratio (x)
most liquid assets.
For this reason, the
ratio excludes
inventories from
current assets

6.58 > 1.5 is Good, A financial ratio that


< 1.5 is Not Good shows how much a
company pays out in
dividends each year
Dividend Yield (%) relative to its share
price. Dividend yield
is calculated as
annual dividends per
share divided by
Name Ratio Good/Not Good Description

market price per


share.

1.58 > 2 is Good, It is used to


< 2 is Not Good determine how
(For Banks & NBFC this is not Valid) easily a company
can pay interest on
Interest Coverage Ratio (x) outstanding debt. It
is calculated by
dividing a companys
EBIT by the interest
expenses.

6.42 < 2 is Good, A measure of a


> 2 is Not Good companys financial
(For Banks & NBFC this is not Valid) leverage calculated
by dividing its total
liabilities by
Debt Equity Ratio (x)
stockholders equity.
The debt/equity ratio
also depends on the
industry in which the
company operates.

4.27 > 5% is Good, An indicator of how


< 5% is Not Good efficient
management is at
using its assets to
Return On Asset (%) generate earnings.
Calculated by
dividing a companys
annual earnings by
its total assets
Name Ratio Good/Not Good Description

24.81 > 18% is Good, Also called Return


< 18% is Not Good on networth, it
measures a
companys
profitability by
revealing how much
profit a company
generates with the
money shareholders
Return On Equity (%)
have invested, it is
calculated by
dividing the net
profit after tax by
shareholder's fund
For high growth
companies you
should expect a
higher ROE.
DIVIDEND PAY OUT
Sl No. Announcement Date Ex-Date Amount Interim/Final

1 24-Apr-2019 07-May-2019 10.00 Interim

2 31-Jan-2019 11-Feb-2019 10.00 Interim

3 15-Oct-2018 25-Oct-2018 10.00 Interim

4 02-Aug-2018 13-Aug-2018 10.00 Interim

5 20-Apr-2018 02-May-2018 10.00 Interim

6 23-Jan-2018 01-Feb-2018 14.00 Interim

7 23-Oct-2017 01-Nov-2017 9.00 Interim

8 24-Jul-2017 02-Aug-2017 9.00 Interim

9 25-Apr-2017 04-May-2017 9.00 Interim

10 20-Jan-2017 09-Feb-2017 9.00 Interim

11 21-Oct-2016 02-Nov-2016 9.00 Interim

12 25-Jul-2016 05-Aug-2016 9.00 Interim

13 20-Jan-2016 01-Feb-2016 9.00 Interim

14 21-Oct-2015 02-Nov-2015 9.00 Interim

15 21-Jul-2015 30-Jul-2015 9.00 Interim

16 24-Apr-2015 06-May-2015 9.00 Interim

17 19-Jan-2015 29-Jan-2015 9.00 Interim

18 08-Sep-2014 25-Sep-2014 9.00 Interim

19 24-Jul-2014 04-Aug-2014 8.00 Interim

20 23-Apr-2014 06-May-2014 9.00 Interim

21 22-Jan-2014 30-Jan-2014 7.00 Interim

22 23-Oct-2013 31-Oct-2013 7.00 Interim

23 23-Jul-2013 01-Aug-2013 6.00 Interim


PROFIT & LOSS STATEMENT
Profit & Loss account of Indiabulls Housing
------------------- in Rs. Cr. -------------------
Finance
Mar 19 Mar 18 Mar 18 Mar 18 Mar 17

12 mths 12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 15,407.35 11,925.30 12,214.76 11,925.30 9,766.98
Revenue From Operations [Net] 15,407.35 11,925.30 12,214.76 11,925.30 9,766.98
Other Operating Revenues 0.00 289.46 0.00 289.46 264.73
Total Operating Revenues 15,407.35 12,214.76 12,214.76 12,214.76 10,031.71
Other Income 31.77 1,568.02 1,568.02 1,568.02 1,274.28
Total Revenue 15,439.12 13,782.78 13,782.78 13,782.78 11,305.98
EXPENSES
Employee Benefit Expenses 723.08 526.59 526.59 526.59 453.58
Finance Costs 9,057.11 7,354.81 7,354.81 7,354.81 6,314.75
Depreciation And Amortisation Expenses 36.97 26.97 26.97 26.97 20.71
Other Expenses 474.34 1,284.33 1,284.33 1,284.33 836.16
Total Expenses 10,291.50 9,192.69 9,192.70 9,192.69 7,625.20
Mar 19 Mar 18 Mar 18 Mar 18 Mar 17

12 mths 12 mths 12 mths 12 mths 12 mths

Profit/Loss Before Exceptional,


5,147.62 4,590.09 4,590.08 4,590.09 3,680.78
ExtraOrdinary Items And Tax
Profit/Loss Before Tax 5,147.62 4,590.09 4,590.08 4,590.09 3,680.78
Tax Expenses-Continued Operations
Current Tax 1,418.36 879.17 1,023.56 879.17 801.29
Deferred Tax 0.00 144.39 0.00 144.39 37.11
Total Tax Expenses 1,418.36 1,023.56 1,023.56 1,023.56 838.40
Profit/Loss After Tax And Before
3,729.26 3,566.52 3,566.52 3,566.52 2,842.38
ExtraOrdinary Items
Profit/Loss From Continuing Operations 3,729.26 3,566.52 3,566.52 3,566.52 2,842.38
Profit/Loss For The Period 3,729.26 3,566.52 3,566.52 3,566.52 2,842.38

INTERPRETATION

1. The Net Profit of the bank in FY 18-19 is Rs. 3,729.26 crores showing an increase in
profit from the previous FY 17-18
2. The finance cost of the company has increased from 7,54.81 cr in FY17-18 to 9,057.11
cr in FY 18-19.
3. The Expenditure towards employees has increased in the FY 18-19
SHARE PRICE ANALYSIS
Current Price (Rs.) 607.70
Face Value (Rs.) 2
Book Value (Rs.) 385.48
52 Week High (Rs.) 1397.00 (06-Aug-
18)
52 Week Low (Rs.) 487.85 (19-Jun-
19)
Life Time high (Rs.) 1440.00 (29-Jan-
18)
Life Time low (Rs.) 165.25 (25-Sep-
13)
Exchange Symbol IBULHSGFIN
(NSE)
Average Daily Movement [ADM] 44.00
Average Volume [20 days] (No. of shares) 22738677
Market Cap (Rs. in Cr) 25983.68 (Cr)
1 Month Return (%) -25.05
P/E Ratio (x) 6.35
% of Promoter holding pledged 12.72

INTERPRETATION

1. The market capitalisation of the company is calculated by multiplying the no. of shares
with the share price of a single share (Market Capitalisation = No. of shares * Market
value of one share) therefore the market capitalisation of the company amounts to
25983.68 crore.
2. The Exchange symbol for the share in the stock exchange is IBULHSGFIN
3. The 52-week high of the share is Rs. 1440.00 and the 52-week low is Rs. 165.25
4. The P/E Ratio of the company is 6.35.
COMPANY NAME:
ADITYA BIRLA
CAPITAL
COMPANY PROFLIE
Aditya Birla Capital (ABC) is the umbrella brand for all the financial services business of The
Aditya Birla Group. ABFSG ranks among the top 5 fund managers in India (including LIC)
with an AUM of US$23 billion. Having a strong presence across the life insurance, asset
management, lending (excluding Housing), housing finance, equity & commodity broking,
wealth management and distribution, online money management portal—Aditya Birla Money
My Universe, general insurance advisory and private equity and health insurance businesses. In
FY 2013–14, ABFSG reported consolidated revenue from these businesses at just under ₹70
billion (US$1.0 billion) and profits of about ₹7.5 billion (US$110 million). The financial
services arm of the group is currently headed by Ajay Srinivasan.

COMPANY PROFILE OF ABCAPITAL, NSE, INDIA

Date of Incorporation 15-Oct-2007

Date of Listing 01-Sep-2017

Management

Name Designation

Arun Adhikari Independent Director

Puranam Hayagreeva Ravikumar Independent Director

Subhash Chandra Bhargava Independent Director

Vijayalakshmi Rajaram Iyer Independent Director

Shriram Jagetiya Non Executive Director

Pinky Mehta WholeTime Director & CFO

Registered Office Address

Indian Rayon Compound,, 362266, Veraval, Gujarat, India,

Website

http://www.adityabirlacapital.com
SHAREHOLDING PATTERN

Shareholding Pattern Mar-19 Dec-18 Sep-18 Jun-18 Mar-18

Promoter and Promoter Group (%) 72.74 72.74 72.74 72.74 72.75

Indian 71.21 71.21 71.21 71.22 71.22

Foreign 1.53 1.53 1.53 1.53 1.53

Institutions (%) 11.16 11.54 11.87 11.99 12.31

FII 3.60 4.54 4.80 4.93 5.27

DII 7.56 7.00 7.07 7.06 7.04

NonInstitutions (%) 16.10 15.72 15.39 15.27 14.94

Bodies Corporate NIL NIL NIL NIL NIL

Others 16.10 15.72 15.39 15.27 14.94

Custodians NIL NIL NIL NIL NIL

Total no. of shares (cr.) 214.75 214.75 214.75 214.75 214.75

1. The highest % of shareholdings are under the Promoter and Promoter Group which are
divided into Foreign and Indian Promoters. The Indian Promoters consist of 71.21 %
and the foreign promoters consists of 1.53%
2. The %of share holding by the Institutions have decreased from 12.31% in Mar 18 to
11.16 in Mar 19
3. The total number of share issued till Mar 19 is 214.75 crores.
RATIO ANALYSIS
Name Ratio Good/Not Good Description
2.04 > 2 is Good, A liquidity ratio that
< 2 is Not Good measures a
companys ability to
pay short-term
obligations. The
Current Ratio (x)
higher the current
ratio, the more
capable the company
is of paying its
obligations.
2.04 > 1 is Good, The quick ratio
< 1 is Not Good measures a
company's ability to
meet its short-term
obligations with its
Quick Ratio (x)
most liquid assets.
For this reason, the
ratio excludes
inventories from
current assets
0.00 > 1.5 is Good, A financial ratio that
< 1.5 is Not Good shows how much a
company pays out in
dividends each year
relative to its share
Dividend Yield (%) price. Dividend yield
is calculated as
annual dividends per
share divided by
market price per
share.
1.30 > 2 is Good, It is used to
< 2 is Not Good determine how
(For Banks & NBFC this is not easily a company can
Valid) pay interest on
Interest Coverage Ratio (x) outstanding debt. It
is calculated by
dividing a companys
EBIT by the interest
expenses.
5.78 < 2 is Good, A measure of a
> 2 is Not Good companys financial
Debt Equity Ratio (x)
(For Banks & NBFC this is not leverage calculated
Valid) by dividing its total
Name Ratio Good/Not Good Description
liabilities by
stockholders equity.
The debt/equity ratio
also depends on the
industry in which the
company operates.
0.97 > 5% is Good, An indicator of how
< 5% is Not Good efficient
management is at
using its assets to
Return On Asset (%) generate earnings.
Calculated by
dividing a companys
annual earnings by
its total assets
9.15 > 18% is Good, Also called Return
< 18% is Not Good on networth, it
measures a
companys
profitability by
revealing how much
profit a company
generates with the
money shareholders
Return On Equity (%)
have invested, it is
calculated by
dividing the net
profit after tax by
shareholder's fund
For high growth
companies you
should expect a
higher ROE.
PROFIT & LOSS STATEMENT
Profit & Loss account of Aditya Birla ------------------- in Rs. Cr. -------------------
Capital
Mar
Mar 18 Mar 17 Mar 16 Mar 15
19

12
12 mths 12 mths 12 mths 12 mths
mths

INCOME

Revenue From Operations [Gross] 177.78 174.79 34.99 7.28 4.40

Revenue From Operations [Net] 177.78 174.79 34.99 7.28 4.40

Total Operating Revenues 177.78 174.79 34.99 7.28 4.40

Other Income 0.71 0.46 0.03 0.07 0.11

Total Revenue 178.49 175.25 35.02 7.35 4.51

EXPENSES

Employee Benefit Expenses 27.05 22.27 24.45 3.57 8.04

Finance Costs 88.53 25.38 0.53 0.00 0.00

Depreciation And Amortisation Expenses 0.87 0.49 0.14 0.03 0.22

Other Expenses 43.36 65.62 5.66 2.53 1.39

Total Expenses 159.81 113.76 30.78 6.12 9.64

Profit/Loss Before Exceptional,


18.68 61.49 4.24 1.23 -5.13
ExtraOrdinary Items And Tax
-
Exceptional Items 0.00 0.00 0.00 -43.43
30.32
-
Profit/Loss Before Tax 61.49 4.24 1.23 -48.56
11.64
Tax Expenses-Continued Operations
Current Tax -2.04 0.00 0.00 1.81 0.00
Other Direct Taxes 0.00 0.00 0.00 -0.72 0.00
Tax For Earlier Years 0.00 0.00 0.00 0.62 0.00
Total Tax Expenses -2.04 0.00 0.00 1.71 0.00
Profit/Loss After Tax And Before
-9.60 61.49 4.24 -0.48 -48.56
ExtraOrdinary Items
Profit/Loss From Continuing Operations -9.60 61.49 4.24 -0.48 -48.56
Profit/Loss For The Period -9.60 61.49 4.24 -0.48 -48.56

INTERPRETATION

1. The company has incurred a loss of Rs. 9.60 cr in the FY 2018-19 from a profit of Rs.
61.49 cr in FY 2017-18
2. The company has also increased its employee benefit expense and it can also be seen
that there is an increase in the operating expenses of the company.
3. The Net Revenue from Operations of the company has increased in the FY 2018-19 but
still it has faced a loss because of higher increase of expenses as compared to the Net
Revenue from Operations

SHARE PRICE ANALYSIS

Current Price (Rs.) 91.80

Face Value (Rs.) 10

Book Value (Rs.) 48.47

52 Week High (Rs.) 152.40 (09-Aug-18)

52 Week Low (Rs.) 77.50 (14-Feb-19)

Life Time high (Rs.) 255.00 (01-Sep-17)

Life Time low (Rs.) 77.50 (14-Feb-19)

Exchange Symbol ABCAPITAL (NSE)

Average Daily Movement [ADM] 3.35

Average Volume [20 days](No. of shares) 1366551

Market Cap (Rs. in Cr) 20208.99 (Cr)

1 Month Return (%) -10.43

P/E Ratio (x) 23.11

% of Promoter holding pledged 0.00


INTERPRETATION

1. The market capitalisation of the company is calculated by multiplying the no. of shares
with the share price of a single share (Market Capitalisation = No. of shares * Market
value of one share) therefore the market capitalisation of the company amounts to
20208.99 crore.
2. The Exchange symbol for the share in the stock exchange is ABCAPITAL
3. The 52-week high of the share is Rs. 152.40 and the 52-week low is Rs. 77.50.
4. The P/E Ratio of the company is 23.11.