Company Overview. Financial Performance
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- Amice Griffin
- 5 years ago
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1 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Nimbus Projects Limited CMP: 34. December 4, 15 Stock Details BSE code BSE ID NIMBSPROJ Face value ( ) 1 No of shares (m) 7.5 Market cap ( m) 53 3 days avg. daily vol (No) 8,67 Free float ( m) 63 Dividend yield FY15 (%) Stock performance (%) Absolute Rel. to Sensex nm 1M 3M 1M -4.3% 7.5% -7.3% -5.3% 6.8% -3.% Shareholding Pattern* (%) Promoters FIIs DIIs Others 74.7%.%.% 5.% *As of September 15 Relative Chart Company Overview Nimbus Projects Ltd. is engaged in the real estate business of constructing group housing societies in the National Capital Region (NCR). The company also constructs residential flats through Special Purpose Vehicles (SPVs). Industry Overview The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces. According to the Planning Commission of India, it is estimated that by 3, about 6 million people are expected to live in cities, which points to huge demand for affordable housing. Moreover, the government initiatives of focus on urbanization, smart city program and improvement in infrastructure will enhance the outlook for the sector. Financial Performance Nimbus reported a net profit of 1.5 million in FY 15, which corresponds to a 13.4% growth compared to FY 14. The company s revenue from operations for FY 15 rose 6.5% to million compared to million in the previous year. 6 5 Nimbus (LHS) Sensex 31, 3, 9, 4 8, 3 7, 6, 5, Table1: Key Financials (Y/e March) 1 4, 3,, Sales ( m) YoY Growth (%) NA -19.4% 6.5% EBITDA ( m) 44.4 (3.7) 16.6 EBITDA Margin.5% -18.8% 8.9% Source: Bloomberg PAT ( m) 18.7 (44.7) 1.5 EPS ( ). (5.7). YoY Growth (%) NA NM 13.7% Source: Company, Karvy Investment Advisory 1
2 Background and Business Description Nimbus Projects Ltd. engaged in the real estate business of constructing group housing societies in the National Capital Region (NCR). Apart from constructing its own projects, the company is also engaged in construction of residential flats through special purpose vehicles (SPVs) and these SPVs have been allotted plots of land on long term lease, under Builders Residential Scheme (BRS) of the New Okhala Industrial Development Authority (NOIDA) and Yamuna Expressway Authority (YEA). The total lease hold area allotted to the company along with SPVs is around,65, sq. meters and the projects are under various stages of construction. Projects that are being developed by the company along with SPVs: The Hyde Park The Golden Palms Express Park View II Golden Palm Village Key Strengths Nimbus key strengths comprise of its well-accepted brand, contemporary architecture, well-designed projects in strategic locations, strong balance sheet, and stable financial performance even in testing times. Risks & Concerns The performance of the company is subject to sales and rental realizations from its projects. Fluctuations in prices due to prevailing market conditions will hamper the company s operations. Inability to design projects that will meet customer preferences and to have timely approvals will impact sales volume through reduced bookings. Timely execution of projects require regular flow of finances, hence inadequate funding resources may lead to high interest rates which impacts company s operating performance. Board of Directors Table : Composition of Board Name Mr. Bipin Agarwal Mr. Lalit Agarwal Mr. Surinder Singh Chawla Mr.Pratap Singh Negi Ms. Anu Rai Source: Company Relation with Company Chairman cum Managing Director Whole Time Director cum Company Secretary Non-Executive Independent Director Non-Executive Non-Independent Director Non-Executive Non-Independent Director
3 Industry Overview Real estate sector is one of the most globally recognized sectors and it comprises of four sub sectors- housing, retail, hospitality and commercial. Real estate is the second largest employer in India and it is expected to grow at 3% over the next decade. Growth in the corporate environment and the demand for office space as well as urban and semiurban accommodations and infrastructure requirements points to the growth of this sector. For the period FY 8- the market size of this sector is expected to grow at a compounded annual growth rate (CAGR) of 11.% to reach $18 billion by. Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for office space in recent times. In 14, investments in office space witnessed a four-fold rise to $ billion compared to the previous year. Delhi-NCR is the biggest office market in India with 11 million sq ft, out of which 88 million sq ft is occupied. Delhi s Central Business District (CBD) of Connaught Place has been ranked as the sixth most expensive prime office market in the world with occupancy costs at $16 per sq ft per annum. According to the Department of Industrial Policy and Promotion (DIPP), the construction development sector in India has received foreign direct investments (FDI) that amounts to $4.1 billion for the period April -June 15. The Government of India has taken several initiatives to encourage the development in real estate sector. The Smart City Project, where there is a plan to build 1 smart cities, is a prime opportunity for the real estate companies. Competition analysis Nimbus operates in a highly fragmented market. The following table is the comparison of the company with few of its competitors. Company CMP ( ) Mcap ( m) Rev ( m) OPM (%) EPS ( ) PE (x) Nimbus Projects Limited % King Infra Ventures Ltd % Neo Infracon Ltd %. 7.3 Source: BSE 3
4 Financial Analysis For the period ending 31 March, 15 Nimbus revenues grew at a decent rate of 6.5% than that of FY 14. The company s EBITDA margin stood at 8.9%, attributable to the decline in company s operating expenses. It also reported earnings per share of.1 for FY 15. Year end March Income statement ( million) Revenue % growth NA -19.4% 6.5% EBITDA % EBITDA margin.5% -18.8% 8.9% Depreciation and amortization EBIT Interest PBT 37. (39.6) 8. Tax Net profit 18.7 (44.7) 1.5 % growth net profit NA NM 13.4% Balance sheet ( million) Shareholder fund 98. 1, ,148.9 Long term liab ,87.4 1,119.8 Current liab Fixed assets Current assets Cash & cash equi Cash flow statement Cash flow operations Cash flow from investing Cash flow from financing Per share data EPS ( ). (5.7). CEPS ( ) 3.5 (5.1) 1.4 DPS ( ) NA NA NA BVPS ( ) Financial Ratios % ROE 1.9% NM.1% ROCE 5.% NM.7% Debt/Equity 1.9% 9.%.9% Interest coverage ratio.8 NM.6 Current ratio Cash ratio Source: Company, Karvy Investment Advisory 4
5 Financial Snapshot Revenue growth (%) EBITDA margin (%) 5 1% 6 3% % % -5% -1% -15% -% -5% % 1% % -1% -% -3% Revenue ( m) % growth EBITDA ( m) % EBITDA margin Net Profit Margin (%) BVS & EPS 4 - % 1% % -1% Net Profit ( m) % net profit margin -% -3% Book value per share ( ) EPS diluted ( ) -8 Liquidity ratio Current ratio Cash ratio Source: Karvy Investment Advisory 5
6 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, 534, Telangana, India. Tel:
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1QFY2013 Result Update HFC July 11, 2012 HDFC Performance Highlights Particulars (` cr) 1QFY13 4QFY12 % chg (qoq) 1QFY12 % chg (yoy) NII 1,258 1,681 (25.1) 998 26.0 Preprov. profit 1,420 1,849 (23.2) 1194
More informationHCL Technologies. Rating: Target price: EPS: Target CMP. Rating. Rs. 826 REDUCE. Rs.760
: price: EPS: How does our one year outlook change? HCLT registered a strong quarter with revenues growing at 6.5% qoq (4% qoq organic) including $40m contribution from Volvo, after a disappointing show
More informationGarware Wall Ropes ACCUMULATE. Performance Highlights CMP. `550 Target Price `618. 2QFY2017 Result Update Textile. Investment Period 12 months
2QFY217 Result Update Textile November 16, 216 Garware Wall Ropes Performance Highlights Quarterly Data (`cr) 2QFY17 2QFY16 % yoy 1QFY17 % qoq Revenue 232 214 8.5 225 3.3 EBITDA 4 26 5.9 31 29.4 Margin
More informationMusic Broadcast BUY. Performance Update. CMP Target Price `329 `475. 2QFY2019 Result Update Media. Historical share price chart.
Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 May-18 Jul-18 Sep-18 2QFY2019 Result Update Media November 3, 2018 Music Broadcast Performance Update Y/E March (` cr) 2QFY19 2QFY18 % yoy 1QFY19 % qoq
More informationMahindra & Mahindra Ltd.
Nov-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 2QFY2019 Result Update Automobile November 15, 2018 Mahindra & Mahindra Ltd. Performance Update Y/E March (` cr)
More informationConsolidated Sales (Cr) Growth EBITDA (Cr) Margin PAT Margin EPS (Rs) P/E RoE
Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 2904 Recommendation CMP Target Price BUY Rs. 312 Rs. 443 Better times ahead! reported a good set of numbers in
More informationRamco Cement. Rating: Target price: EPS: Rating CMP. Target BUY. Rs.415. Rs. 360
: price: EPS: How does our one year outlook change? We maintain our positive stance on s (TRCL). The company is one of the largest cement producers in South and remains among the best plays on Southern
More informationMaruti Suzuki (RHS) BUY. Operationally In Line; Reiterate Buy. Automobiles October 31, 2014 RESULT REVIEW. Outlook & Valuation.
Oct13 Dec13 Jan14 Feb14 Apr14 May14 Jun14 Aug14 Sep14 Oct14 India Research Automobiles RESULT REVIEW Bloomberg: MSIL IN Reuters: MRTI.BO BUY Operationally In Line; Reiterate Buy India s (MSIL) Revenue/EBIDTA/PAT
More informationAstra Microwave Products
Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Research Desk Stock Broking Capital Goods - Defence August 4, 2014 RESULT REVIEW Bloomberg: ASTM@IN Reuters: ASTM.BO Results in-line with expectation-maintain
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Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 3QFY2019 Result Update Automobile February 15, 2019 Mahindra & Mahindra Ltd. Performance Update Y/E March (` cr)
More informationHOLD. Margins to improve from Q2 AMBUJA CEMENTS. Target Price: Rs 232. Other highlights
AMBUJA S 4 MAY 2017 Quarterly Update HOLD Target Price: Rs 232 Margins to improve from Q2 Q1CY17standalone EBITDA at Rs 4.0 bn was in line withconsensus estimate.volume was up 3% YoY to 6 mnt. Realization
More informationMaruti Suzuki India Ltd.
Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18. Volume No.. I Issue No. 192 Maruti Suzuki India Ltd. November 19, 2018 BSE Code: 532500 NSE Code: MARUTI Reuters
More informationTV Today Network BUY. Performance Update CMP. `323 Target Price `498. 3QFY2019 Result Update Media. Investment Period 12 Months
Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 3QFY2019 Result Update Media February 14, 2019 TV Today Network Performance Update Y/E March (` cr) 3QFY19 3QFY18
More informationReligare Investment Call
Oct-17 v-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 BUY CMP (Rs) 190 Target Price (Rs) 247 Potential Upside 29.7% Sensex 33,349 Nifty 10,030 Key Stock data BSE Code
More informationRallis India SELL. Performance Highlights. `231 Target Price 189 CMP. 2QFY2018 Result Update Agrichemical. Investment Period 12 months
Jan-12 Jun-12 Nov-12 Apr-13 Sep-13 Feb-14 Jul-14 Dec-14 May-15 Oct-15 Mar-16 Aug-16 Jan-17 Jun-17 Nov-17 2QFY2018 Result Update Agrichemical November 21, 2017 Rallis India Performance Highlights Y/E March
More informationCCL Products BUY. Performance Update. CMP Target Price `278 `360. 3QFY2018 Result Update Coffee. Historical share price chart.
Feb-15 May-15 Aug-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 3QFY2018 Result Update Coffee February 5, 2018 CCL Products Performance Update Y/E March (` cr) Q3FY18 Q3FY17
More informationLippi Systems Ltd BSE Scrip Code:
Lippi Systems Ltd BSE Scrip Code: 526604 Industrial Machinery October 30, 2012 Equity Statistics Current Market Price Rs. 4.8 52 Week High/Low Rs. 7.24/4.01 Market Capitalisation Rs. Crores 3.4 Free Float
More informationBharat Forge. Result Update. Q4FY13 Result Highlights. Valuation. No Respite in Sight May 29, Institutional Research 1
[ Result Update Equity India Forging & Industrials Bharat Forge Ltd. No Respite in Sight May 29, 2013 CMP (`) Target (`) 241 238 Potential Upside Absolute Rating (1.24)% HOLD Market Info (as on May 28,
More informationITC ACCUMULATE. Performance Highlights CMP. `257 Target Price `284. 3QFY2017 Result Update FMCG. Investment Period 12 Months
3QFY2017 Result Update FMCG January 30, 2017 ITC Performance Highlights Quarterly result (Standalone) (` cr) 3QFY17 3QFY16 % yoy 2QFY17 %qoq Revenue 9,248 8,867 4.3 9,661 (4.3) EBITDA 3,546 3,475 2.1 3,630
More informationKey estimate revision. Financial summary. Year FY15 121, % 16, % FY16E 137, % 20,
: price: EPS: How does our one year outlook change? We maintain rating on Aurobindo post the company s 3QFY16 results. Revenue growth for the quarter was 10% yoy: US sales of $238mn (vs. estimate of $251mn
More informationReligare Investment Call
v-17 v-17 Dec-17 Jan-18 Jan-18 Feb-18 Mar-18 Mar-18 Apr-18 May-18 May-18 Jun-18 Jul-18 Aug-18 Aug-18 Sep-18 Oct-18 Oct-18 Q2FY19 Result Update Q2FY19 Result Update BUY CMP (Rs) 282 Target Price (Rs) 321
More informationNear-term pressure, but long-term outlook positive
INDUSTRY IT CMP (as on 2 Nov 2015) Rs 1,812 Target Price Rs 2,050 Nifty 8,051 Sensex 26,559 KEY STOCK DATA Bloomberg ECLX IN No. of Shares (mn) 30 MCap (Rs bn) / ($ mn) 55/843 6m avg traded value (Rs mn)
More informationBlue Star Ltd BUY. Performance Update. CMP Target Price `754 `867. 4QFY2018 Result Update Cons. Durable. 3-year price chart.
May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 4QFY2018 Result Update Cons. Durable May 16, 2018 Blue Star Ltd Performance Update 4QFY18 4QFY17 % chg. (yoy)
More informationCentury Plyboards (India)
: price: EPS: How does our one year outlook change? Century Plyboards (India) (CPBI) 2QFY17 revenues grew by 6% yoy driven by 2% yoy growth in plywood products and 11% yoy growth in laminate products.
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Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Volume No.. III Issue No. 163. Larsen & Toubro Ltd. February 26, 2018 BSE Code: 500510 NSE Code: LT Reuters Code:
More informationBUY. Efforts on cost cutting paying off RAMCO CEMENTS. Target Price: Rs 435. Key highlights. Key drivers FY15 FY16E FY17E
RAMCO S BUY Target Price: Rs 435 Efforts on cost cutting paying off Q2 EBITDA at Rs 2.8 bn (up 30% YoY) was ahead of our estimates due to lower-than-expected costs. Average costs (excluding freight) declined
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Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17. Volume No.. I Issue No. 154 Apollo Hospitals Enterprise Ltd. December 19, 2017 BSE Code: 508869 NSE Code: APOLLOHOSP
More informationInox Wind BUY. Performance Highlights. CMP Target Price `242 `286. 4QFY2016 Result Update Capital Goods. 3 year price chart
4QFY216 Result Update Capital Goods May 11, 216 Inox Wind Performance Highlights Quarterly Data (Consolidated) ( ` cr) 4QFY16 4QFY15 % chg (yoy) 3QFY16 % chg (qoq) Total Income 1,829 93 96.6 941 94.2 EBITDA
More informationThe Varhad Group. AGI Infra Ltd. Company Overview. Industry Overview. Financial Overview CMP: INR Stock data. Stock performance (%)
Realty l SME Research AGI Infra Ltd CMP: INR115.40 Stock data BSE code 539042 BSE ID AGIIL Face value (INR) 10 No of shares (m) 10.2 Market cap (INRm) 1,179.0 3m avg. daily vol (No) 4.553.8 Free float
More informationKEI Industries BUY. Performance Update. Target Price. 3QFY2018 Result Update Cable. Historical share price chart. Key Financials
3QFY2018 Result Update Cable January 25, 2018 KEI Industries Performance Update Y/E March (` cr) 3QFY18 3QFY17 % yoy 2QFY18 % qoq Net sales 889 715 24 749 19 EBITDA 84 77 10 76 11 EBITDA margin (%) 9.5
More informationRoyal India Corporation Limited BSE Scrip Code:
Royal India Corporation Limited BSE Scrip Code: 512047 Other Apparels & Accessories September 13, 2012 Equity Statistics Current Market Price Rs. 78.1 52 Week High / Low Rs. 97.9/58.5 Market Capitalisation
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More informationReligare Investment Call
v-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 v-18 Q2FY19 Result Update Q2FY19 Result Update BUY CMP (Rs) 5,813 Target Price (Rs) 6,519 Potential Upside 12.1% Sensex
More informationGlance Finance Ltd. Other Financial Services. . Company Overview. Company Fundamentals. Key Strengths. CMP Rs BSE Code BSE ID
Other Financial Services Nov 15, 2012 CMP Rs. 19.55 BSE Code 531199 BSE ID GLANCE High/Low 1Y (Rs.) 35.15/ 16.55 Average Volume (3M) 279 Market Cap (Rs. Cr.) 6 Shareholding % Sep-12 Jun-12 Promoters 74.83
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