Analysis, guides and explainers on India's unlisted market — from IPO pipelines to ESOP liquidity.
<div> Sterlite Power Transmission and US private equity giant KKR have agreed to cosponsor and together manage the former’s infrastructure investment trust, India Grid Trust, according to executives involved in the transaction, which is the first-of-its-kind in the country’s power sector. India Grid Trust (IndiGrid) is aiming to raise Rs 2,560 crore through a qualified institutional placement that opened on Tuesday. Of this amount, KKR will invest Rs 1,084 crore and GICNSE Infra Holdings Pte will invest Rs 980 crore. Sterlite Power Transmission will invest Rs 200 crore to maintain the 15% ownership it is required to maintain as per Securities and Exchange Board of India norms. <div><span style="font-size: 12pt;"><strong style="color: #ff6600;"><a style="text-decoration: underline;" href="https://economictimes.indiatimes.com/markets/stocks/news/kkr-gic-to-invest-rs-2000-cr-in-sterlite-power-trust/articleshow/69123220.cms">Read Full Report Here</a></strong></span></div> </div>
1. The Company has shown an excellent <strong>Revenue growth</strong> of 45% in the first 9MFY19 as compared to last year.<!--more--> 2. The <strong>EBITDA margins</strong> have also improved from 2.7% to 5.25% in the same period. 3. The EPS for the first 9M of FY19 stands at 27 which is higher than by 50% for the entire FY18. 4. Overall we can say the company has posted excellent results. <img class="alignnone wp-image-723" src="https://unlistedzone.com/storage/knowledge-logo/IMG-20190430-WA0043-300x63.jpg" alt="" width="686" height="144" />
<strong>(i)</strong> The company has very high employees benefit expense. <strong>(ii)</strong> They have close to 25% of employees expense in FY18-19 as compared to 20% last year. <!--more--> <strong>(iii)</strong> The average employee expense in the industry is only 10%. <strong>(iv)</strong> Plus this year they have done NPA provisioning of 261 Cr which is more than 94 Cr as per RBI guidelines. Had they not have done this they would have easily added 94 Cr in the bottom line. The Gross NPA and Net NPA have come down to 4.87% and 2.27% from 7.89% and 4.46%, last year which is big positive for the bank. The CAR improvement from 9% to 16% also augur well for the company going forward. <strong>(v)</strong> The company has issued close to 8 Cr shares to Fairfax this year and now Fairfax holds 51% stakes in the bank. By doing this the CSB has become India's first foreign-owned bank. <strong>(vi)</strong> The Fairfax, investment of Arm of Billionaire Prem-Watsa, has infused close to 1200 Cr in CSB. <strong>(vii)</strong> The new management of Fairfax will be very positive for the functioning of the bank and CSB could be a very good turnaround story to watch out for. <strong>(viii)</strong> The management is planning for IPO in 2019 as Fairfax eventually has to reduce the holdings in the bank from 51% to 41% as per RBI guidelines. <img class="alignnone wp-image-712" src="https://unlistedzone.com/storage/knowledge-logo/IMG-20190428-WA0045-300x267.jpg" alt="" width="474" height="422" />
Hero Fin Corp has released a very strong set of numbers this year. The company has reported Revenue growth of 50% and PAT growth of 84% YoY basis. Hero FinCorp (<strong>an associate company of </strong>Hero MotoCorp), is an Indian Non-Banking Financial Company (NBFC). The company is currently engaged in consumer finance businesses and commercial lending. Consumer Finance includes financing Hero MotoCorp Two Wheeler, Loyalty Customer Loans (top-up loans for existing customers) and providing Loans against the property.<!--more--> On the commercial lending side, it provides Indian corporates with a wide portfolio of financing products which include working capital loans, machine loans among others. During the year the company has issued 15,751,300 Equity shares under Right Issue at Rs. 740 per share in the ratio of 4 Equity Shares for every 25 Equity shares. The Net Worth of the company as on 31.03.2019 stands at 3661.51 Cr up by 62% from the last year. The book value of Hero-Fin Corp for FY18-19 stands at 321 per share. The EPS for FY19 stands at 25.92 per share which is up by 60% YoY basis. So, at Unlisted Zone, we feel that the company has shown an excellent set of numbers and it is poised at a very reasonable valuation of P/B of 3x-4x in the unlisted market to grab. For Buying and Selling Hero Fin Corp you can drop us an email at <a href="mailto:[email protected]">[email protected]</a> or can watsapp at 08010009625. <span style="font-size: 12pt;"><a href="https://unlistedzone.com/storage/knowledge-logo/Audited-Financial-Results-FY-18-19.pdf"><strong><span style="text-decoration: underline;">Download Results</span></strong></a></span>
<span style="font-size: 12pt;">This unlisted stock has been creating a lot of buzz among the trading community, which has been busy trying to assign a fair price to the stock.</span> <span style="font-size: 12pt;">Chennai Super Kings (CSK) has been the most successful franchise of the Indian Premier League (IPL), winning three titles and making it to the final playoffs every edition it has been part of. In the ongoing edition of IPL too, CSK has been chart toppers after the first 10 matches.</span> <div> <span style="text-decoration: underline; font-size: 12pt;"><a style="text-decoration: underline;" href="https://economictimes.indiatimes.com/markets/stocks/news/this-unlisted-stock-with-dhoni-connection-has-analysts-swooning-over-soaring-valuation/articleshow/69003664.cms">To read more Click Here:</a></span> </div>
<span style="font-size: 12pt;">Tata Technologies Friday said it has inked a pact with China's FutureMove Automotive to develop connected mobility solutions for automotive manufacturers in China and other markets.</span> <span style="font-size: 12pt;">The companies signed a memorandum of understanding on the sidelines of the Shanghai Motor Show 2019.</span> <div> <span style="text-decoration: underline; font-size: 12pt;"><a style="text-decoration: underline;" href="https://economictimes.indiatimes.com/tech/software/tata-technologies-joins-hands-with-chinas-futuremove-automotive/articleshow/68951420.cms?utm_source=sms_app&utm_medium=social&utm_campaign=socialsharebuttons">Read Full Report here:</a></span> </div>
Kurl-on has acquired international mattress brand Spring Air for an undisclosed amount, the Indian mattress and home furniture brand announced in Mumbai on April 16. “The acquisition will strengthen our presence in the premium bedding segment, besides enabling us to meet the fast-growing demand in the hospitality sector. The acquisition is in line with our aggressive expansion strategy of increasing our product portfolio and retail presence,” Sudhakar Pai, Chairman and Managing Director, Kurl-on, said. <img class="alignnone wp-image-689" src="https://unlistedzone.com/storage/knowledge-logo/IMG-20190417-WA0011-300x268.jpg" alt="" width="459" height="410" /> <span style="text-decoration: underline; font-size: 12pt;"><strong><a style="text-decoration: underline;" href="https://www.moneycontrol.com/news/business/companies/kurl-on-sees-spring-air-in-its-revenue-to-double-to-rs-2200-crore-in-2-years-3837261.html">Read the full report here</a></strong></span>
<p>HDB Financial Services, a renowned player in the financial sector, has recently announced its financial results for FY18-19, showcasing a remarkable performance across key financial metrics.</p> <ol> <li> <p><strong>Revenue Growth:</strong> One of the standout achievements for the company this fiscal year has been its revenue growth. HDB Financial Services recorded a significant increase of 24.61% in revenue compared to the previous year. This substantial growth reflects the company's strong market presence and its ability to adapt and thrive in the dynamic financial landscape.</p> </li> <li> <p><strong>Profit After Tax (PAT) Growth:</strong> In terms of profitability, the company has reported a PAT growth of 23.72% in FY18-19, compared to the last fiscal year. This notable increase in profits underscores the effective management strategies and operational efficiencies that HDB Financial Services has implemented.</p> </li> <li> <p><strong>Earnings Per Share (EPS):</strong> The EPS for FY18-19 stood at an impressive 14.63, indicating the company's strong earnings potential and its capacity to generate substantial value for its shareholders.</p> </li> <li> <p><strong>Book Value and Market Valuation:</strong> The Book Value per Share for FY18-19 was reported at 91, reflecting the intrinsic value of the company. Furthermore, with the current unlisted market rate of the company's shares standing at 1030, the Price/Book Value ratio is calculated to be 11.31. This ratio offers insights into the market's valuation of the company relative to its book value, suggesting strong investor confidence.</p> </li> <li> <p><strong>Asset Quality:</strong> On the asset quality front, there has been a slight increase in the Gross Non-Performing Assets (NPA) and Net NPA, rising to 1.78% and 1.12% respectively. In comparison, the previous year's figures were 1.58% for Gross NPA and 0.96% for Net NPA. While this increase is modest, it points to the need for vigilant credit risk management in the evolving economic conditions.</p> </li> </ol> <p>In conclusion, HDB Financial Services' results for FY18-19 paint a picture of robust growth and financial health. The company has demonstrated its ability to achieve significant revenue and profit growth while maintaining a strong EPS and book value. However, the slight uptick in NPAs serves as a reminder of the challenges in the financial sector. Going forward, it will be crucial for HDB Financial Services to continue its growth trajectory while effectively managing risk and enhancing shareholder value.</p> <p><a href="https://unlistedzone.com/storage/knowledge-logo/HDBFS-FY18-19.pdf">Annual Results of FY18-19</a></p>
Mumbai-based agricultural chemicals maker Indofil Industries Ltd. has acquired a majority stake in Agrowin Biosciences, a crop protection and plant nutrients company based in Milan, Italy, for an undisclosed all cash deal. The acquisition was executed through its Netherland-based holding company Indofil Industries (International) BV. Headquartered in Legnano (Milan) Italy, Agrowin Biosciences is well established crop protection and plant nutrient company providing solutions in Agrochemical market of Italy. <div> Recognizing the strong presence of Agrowin in the European agribusiness market of Italy through its distribution network and brand equity, Indofil with its own expertise in manufacturing, product development, regulatory and global agribusiness technology expects this acquisition to create a stronger presence in European markets. </div> <div>“This acquisition gives us a firmer and sustainable position in the Italian market and provides a good platform for launching several new and exciting products in the coming year," said R K Malhotra, group CEO, Indofil Industries. "As our second acquisition in Europe, we see ourselves moving towards focussed, multifaceted growth and partners like Agrowin are in remarkable synergy.”</div> <div> The Italian agrochemical market presently is the third-largest in Europe with market size of $1.2 billion. With its varied climatic zones Italy grows large number of crops like vines, fruits vegetables, cereals and sugar beet. Fungicides are the most important crop protection segment in Italy. </div> <div> Dr Giorgio Corti, managing director, Agrowin, added, “We take immense pride that Agrowin, a distributor for Indofil since 2002, has taken the relationship to partnership. The participation of Indofil in Agrowin gives us full access to Indofil’s resources and capabilities which will help us grow and consolidate our position in the market at a fast pace.” </div> <div> Indofil Industries, established in 1965, manufactures crop protection and specialty chemicals, with a turnover of over Rs2,476, has a direct presence in the Indian market through a large sales organization and well spread distribution network .It also has a presence in over 100 countries through direct distributors as well five operating subsidiaries .It derives 50% of its revenue from international business. Indofil has five manufacturing plants supporting its product range, a backward integration through manufacturing joint venture Indobaijin and strong R&D and product management team. </div> <div>Agrowin value its people and business partners who are most important elements in success of creating a brand equity and sustainable distribution network.</div>
<span style="font-size: 12pt; font-family: georgia, palatino, serif;">(i) <span style="color: #999999;">Pursuant to the provisions of Section 110 and other applicable provisions, if any, of the Companies Act, 2013 (‘the Act’), read with the Companies (Management and Administration) Rules, 2014 (including any statutory modification or re-enactment thereof for the time being in force) and pursuant to other applicable laws and regulations, if any, the Bank is seeking approval of the Members of the Bank for the following business items set out in the Notice of Postal Ballot dated March 28, 2019 which is to be passed through Postal Ballot process, which includes voting by electronic means (e-Voting).</span></span> <span style="font-family: georgia, palatino, serif; font-size: 12pt;">(ii) The Agenda Points in the Postal Ballot are:</span> <span style="font-size: 12pt; font-family: georgia, palatino, serif;"><span style="color: #000000;">1.</span> <span style="color: #999999;">Adoption of a new set of Articles of Association of the Bank.</span></span> <span style="font-size: 12pt; font-family: georgia, palatino, serif;"><span style="color: #ff6600;"><span style="color: #000000;">2.</span></span> <span style="color: #999999;">Change of name of the Bank from ‘The Catholic Syrian Bank Limited’ to ‘CSB Bank Limited’.</span></span> <span style="font-size: 12pt; font-family: georgia, palatino, serif;"><span style="color: #000000;">3</span>. <span style="color: #999999;">Increase in Authorized Capital of the Bank.</span></span> <span style="font-size: 12pt; font-family: georgia, palatino, serif;"><span style="color: #000000;">4</span>. <span style="color: #999999;">Foreign Investment Limits in the Bank.</span></span> <span style="font-size: 12pt; font-family: georgia, palatino, serif;"><span style="color: #000000;">5.</span> <span style="color: #999999;">Approve CSB Employee Stock Option Scheme 2019 of the Bank</span></span> <span style="font-family: georgia, palatino, serif; font-size: 12pt;"><span style="color: #ff6600;"><span style="color: #000000;">6. </span></span>Listing of Equity shares of the Bank, either by way of a Direct listing of its Equity Shares or by way of an Initial Public Offer of Equity shares through Fresh issue and /or an Offer for Sale by the certain shareholder(s) of the Bank.</span> <span style="text-decoration: underline; font-family: georgia, palatino, serif; font-size: 12pt;"><a style="text-decoration: underline;" href="https://unlistedzone.com/storage/knowledge-logo/CSB_Notice_of_Potsal_Ballot_dated_28.03.2019.pdf">Full Detail Report Here</a></span>
It was incorporated in the year 1962 as a Karnataka Consumer Products Limited. Later on, in 1995, the name changed to Kurl-On Limited. The core business of the company is manufacturing rubberized coir, foam and spring mattresses, foam products and home furnishings.<!--more--> The Group has manufacturing facilities for Rubberised coir in Yeswanthpur (Bangalore), Bhubaneswar, and Gwalior. Polyurethane foam-manufacturing facility at Dabaspet (Karnataka), Roorkee (Uttarakhand) and Jhagadia (Gujarat). c) The spring manufacturing facility at Peenya (Bangalore), Jhagadia (Gujarat), and Bhubaneshwar. <strong><a style="text-decoration: underline;" href="https://unlistedzone.com/storage/knowledge-logo/Kurl-ON-Enterprise.pdf">Download the Full Research Report Here</a></strong>
Canadian investor Prem Watsa’s Indian bank has started preparations for a stock market listing this year, its chief executive said. Catholic Syrian Bank Ltd, in which Watsa’s Fairfax India Holdings Corp received approval to take a controlling stake, is gearing up for a listing that may involve a <span class="webrupee">₹</span>400 crore ($58 million) initial public offering (IPO), according to CEO C. VR. Rajendran. <span style="font-size: 12pt;"><a href="https://www.livemint.com/companies/news/fairfax-india-bank-eyes-2019-listing-may-launch-rs-400-crore-ipo-1553760977575.html">Click to read more</a></span>
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