Company Overview. Financial Performance
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- Cornelius Flynn
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1 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 CMP: December 24, 2015 Stock Details BSE code BSE ID TOTEX Face value ( ) 10 No of shares (m) 8.1 Market cap ( m) days avg. vol (No) Free float ( m) 201 Dividend yield FY15 (%) Stock performance (%) Absolute Rel. to Sensex nm 1M 3M 12M -3.2% -7.1% 38.2% -2.5% -6.4% 43.5% Shareholding Pattern* (%) Promoters FIIs DIIs Others Company Overview Total Hospitality Limited, early know as, is engaged in hospitality business in India. The company provides a wide range of services through its subsidiary company SKD Restaurants Pvt. Ltd. thorough a chain of Fine Dining Restaurants, Cafes, F & B Kiosks, Boutique hotels, and Spa Resorts spread all across India. Industry Overview The Indian hospitality industry has emerged as one of the key industries driving growth of services sector in India. The growth of hospitality industry is dependent upon the tourism industry. India has become one of the leading players in the global tourism industry, fuelled by increasing foreign tourists as well as tourist movement within the country. Financial Performance The company has reported a negative bottom line for the year of र3.1m from र3.3 in FY % 0.0% 1.48% 81.83% *As of September 2015 Relative Chart Table1: Key Financials Total exportrs Ltd (LHS) Sensex (Y/e March) FY 13 FY 14 FY ,000 30,000 29,000 28,000 27,000 26,000 25,000 24,000 23,000 Sales (रm) YoY Growth (%) nm nm nm EBITDA (रm) EBITDA Margin nm nm nm PAT (रm) EPS (र) ,000 YoY Growth (%) % -9.1% -22.0% Source: Company, Karvy Investment Advisory Source: Bloomberg 1
2 Background and Business Description Total Hospitality Limited is engaged in the hospitality business in India. The Company provides a range of services through its subsidiary company SKD Restaurants Pvt. Ltd. thorough a chain of Fine Dining Restaurants, Cafes, F & B Kiosks, Boutique hotels, and Spa Resorts spread all across India. The Company owns and operates various brands, such as JiJi-Kitchen & Bakery, Kasturi-Fine Dining Indian Restaurant, Vault-The Bar and Eclair-Cakes and Bakes. JIJI-Kitchen is a dining restaurant with a bakery unit offering customers a range of products. Total Hospitality Ltd. has decided to set-up state-of-the-art 10 nos. Diabetes Centers in northern region of India. By adding these diabetic center, the company is moving into healthcare as a major focus. The company has plans to setup a most modern Diabetes Research & Clinical Care Hospital jointly with the world s largest, oldest and most reputed chain of diabetes centres based in Boston USA and affiliated to Harvard Medical School. This hospital will be set-up in the Delhi NCR region. Key Strengths & Future outlook Total Hospitality plans to set-up 10 nos. most-modern, state-of-the-art Diabetes Centers in next 24 months time in northern region. Risks & Concerns Competition from unorganized / small scale sectors and new entrants into the market. Rising cost of treatment remains the organization s major challenge. Board of Directors Table 2: Composition of Board Name Divya Seengal Siddharth Seengal Kanad Kashyap Anil Kumar Divya Seengal Source: Company Relation with Company Managing Director Non-Executive Director Independent Director Independent Director Managing Director 2
3 Industry Overview In India, the lack of proper healthcare infrastructure, rampant ignorance and absence of clear cut guidelines mean that approach to the management of diabetes is ad hoc. The lack of awareness among patients and General Practitioners (GPs) is a key factor in the poor care. There are practically no nurse educators or diabetic counselors, no podiatrists (foot experts) and very few dieticians which means that the treating doctor has no support and has to take the entire burden of caring for these patients. The patients inability/unwillingness to pay for this additional support also hinders the treatment. India is named as Diabetes Capital of the World with more than 65.1 million people with diabetes (likely to increase 125 million by 2035) and 72 million people at pre-diabetes stage, are suffering from this disease. 42.5% of Delhi population suffers from this disease and rank first among the metro cities. Inspite of modern & world class healthcare facilities, India has no dedicated specialty diabetes treatment centers. Competition analysis Total Hospitality Limited operates in highly competitive market where it s facing competition from organized and unorganized market. Here is the list of few listed competitors. Company CMP ( ) Mcap ( m) Rev ( m) OPM (%) EPS ( ) PE (x) Total Exports Ltd nm nm STERWEB % na na CRAZYINF nm nm Source: BSE 3
4 Financial Analysis The Company incurred net loss of र3.14 million in FY15 compared to a loss of र3.31 during the prior year. Year end March FY 13 FY 14 FY 15 Income statement ( million) Revenue % growth nm nm Nm EBITDA % EBITDA margin nm nm Nm Depreciation and amortization EBIT Interest PBT Tax Net profit % growth net profit Nm Nm Nm Balance sheet (रmillion) Shareholder fund Non-Current liabilities Current liabilities Non - Current assets Current assets Cash & cash equivalents Cash flow statement Cash flow operations Cash flow from investing Cash flow from financing Per share data EPS (र) (0.6) (0.5) (0.4) DPS (र) na na na BVPS (र) nm nm nm Financial Ratios % ROE nm nm nm ROCE nm nm nm Debt/Equity Interest coverage ratio nm nm nm Current ratio Cash ratio Source: Company, Karvy Investment Advisory 4
5 DISCLAIMER Karvy Investment Advisory Services Ltd (KIASL), an entity of the Karvy Group, has taken utmost care to ensure accuracy and objectivity while writing this report based on publicly available information or from sources considered reliable. However, neither the accuracy nor completeness of information contained in this report is guaranteed. Opinions expressed herein are our current opinions as on the date of this report. Nothing in this report can be construed as either investment or any other advice or any solicitation, whatsoever. The subscriber/user assumes the entire risk of any use made of this report or data herein. KIASL specifically states that it or any of its entities or employees do not have any financial liabilities whatsoever to the subscribers / users of this report. This report is for personal information of the authorized recipient in India only. This report or any part of it should not be reproduced or redistributed or communicated directly or indirectly in any form to any other person or published or copied for any purpose. DISCLOSURE Associates of KIASL might have received compensation from the subject company mentioned in the report during the period preceding twelve months from the date of this report for investment banking or merchant banking or brokerage services from the subject company in the past twelve months or for services rendered as stock broker, Registrar and Share Transfer Agent, Commodity Broker, Currency and forex broker, merchant banker and underwriter, Investment Advisory services, insurance repository services, consultancy and advisory services, realty services, data processing, profiling and related services or in any other capacity. KIASL encourages independence in research report preparation and strives to minimize conflict in preparation of research report. Compensation of KIASL Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. KIASL generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover. KIASL and/or its subsidiaries and /or its group companies collectively or Research Analysts do not own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of the research report. KIASL or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report and have no financial interest in the subject company mentioned in this report. Accordingly, neither KIASL nor Research Analysts have any material conflict of interest at the time of publication of this report. It is confirmed that KIASL and Research Analysts primarily responsible for this report and whose name(s) is/ are mentioned therein of this report have not received any compensation from the subject company mentioned in the report in the preceding twelve months. PUBLISHED BY KIASL is a part of the Karvy Group, a premier integrated financial services provider. We offer a wide array of investment advisory services including Comprehensive Financial Planning, Wealth Review and Investment Strategy services, Equity Review and Investment Strategy, Mutual Fund Review and Investment Strategy, Wealth Advice Package, and Wealth Planning for Retired Individuals. Head Office: 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad, , Telangana, India. Tel:
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