Powerhouse Fitness and Realty Limited

Transcription

1 10 February 2016 CMP: Rs.33 Industry: Other Leisure facilities BSE Group/Index: M Promoters Gupta family Year of incorporation 2013 Registered office 702, Plot No. 1, Concord CHS, JVPD Scheme, Vile Parle (W), Mumbai, Maharashtra Company website Key Data (as on 23 Dec 15) BSE ISIN INE982Q01017 Face Value (Rs.) 1 Mkt Cap (Rs.mn) Current P/E Current P/BV week high-low (Rs.) day avg daily trading vol N/A Equity capital (Rs.mn) 69.0 Net worth (Rs.mn) Company Business Powerhouse Fitness and Realty Limited is operating a chain of Gyms in Mumbai and has a presence in Surat and Jaipur through a franchise. It also provides other fitness services like Zumba, yoga and Physiotherapy. The company was listed in October Peer group analysis The company has one listed peer which is much larger than itself. Financials Standalone Particulars (FY15, Rs.mn) Powerhouse Fitness and Realty Ltd. Talwalkars Better Value Fitness Ltd. Total Income ,455.1 EBIDTA ,228.9 EBIDTA margin PAT PAT margin EPS Cash accruals Debt/EBIDTA (x) Debt/Equity (x) ROANW (%) ROACE (%) P/E (TTM) P/BV (TTM) Source: CMIE, Company Page 1 of 5

2 Share Price Performance Change in Shareholding Pattern (%) Year Promoters DII FII Others 5.0% % -5.0% 0.8% Since Listing Sep Jun Mar % -15.0% -10.1% Powerhouse S&P BSE 500 Top Public Shareholders with >1% shareholding Sl. No. Name of the Shareholder No. of Shares held (in 000s) Shares as % of Total No. of Shares 1 N A Construction Pvt Ltd Transparent Share and Securities Pvt Ltd Sujana Pingle Rohit Chokhani Rachna Suresh Chokhani Animesh Shivkumar Gupta Total Page 2 of 5

3 Key strengths and opportunities The Indian fitness industry is in its early stages of growth with a gym penetration rate of just 0.13% and significant untapped potential that could result in unabated growth in the coming years. Key concerns and risks This sector has a lot of competition with many brands in the market. The company carries out its operations in mainly in Mumbai which provides concentration risk. There is a shortage of trained fitness professionals. A majority of fitness equipment used in India are imported and suffer high rates of import taxation, leading to higher gym costs. Industry overview India is ranked third after US and China in the study of highest number of obese people in the world. There is also a marked increase in lifestyle diseases which are prompting people to become aware about the need to remain fit. Rising employment, purchasing power and urbanisation has instilled awareness among the people about the need to remain fit and healthy. With constant rising surge in the number of gym-goers, the fitness industry in India is all set to witness significant growth. Changing social trends are also facilitating the incremental inflow of female customers in the Indian fitness industry who today make up almost half the Indian market. Quarterly results The company has not posted any quarterly results. Page 3 of 5

4 Book Value per share Key ratios 17.2 Dividend per share (Rs.) 0.2 EPS (Rs.) Mar Mar Mar-15 Profitability Leverage ratios RONW (%) ROCE (%) Debt/EBITDA (x) Debt/Networth (x) Page 4 of 5

5 Financials P&L (Rs. mn) FY13 FY14 FY15 Balance Sheet (Rs. mn) FY13 FY14 FY15 Total Income NA Share Capital NA EBIDTA Share Application Money Pending allotment - - EBIDTA margin Reserves & Surplus Depreciation Net worth EBIT Borrowings Interest Current Liabilities & Provisions PBT Total liabilities Tax Net fixed assets PAT Capital WIP PAT margin Investments Dividend (Rs.mn) - - Inventories - - DividendPayout Sundry Debtors Cash & Bank Other Current Assets Loans and Advances Miscellaneous Expenses not w/off Deferred Tax Assets/(Liabilities) (0.3) (0.7) Total assets Cash Flow (Rs.mn) FY13 FY14 FY15 PBT NA CF from Operation (16.5) (32.4) CF from Investment (37.2) (32.9) CF from Financing Inc/(dec) Cash Closing Balance Disclaimer The information contained herein is from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or complete and it should not be relied on as such. Our company shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigation as it deems necessary to arrive at an independent evaluation which may affect their investment in the securities of companies referred to in this document (including the merits and risks involved). The discussions or views expressed may not be suitable for all investors. This information is strictly confidential and is being furnished to you solely for your information. Page 5 of 5