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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>
<p><span style="font-size: 14pt;"><strong>Financial of the HDB Financial Unlisted Share</strong></span></p> <!--more--> <table style="width: 47.6965%;"> <tbody> <tr> <td style="text-align: center; width: 12.8205%;"><strong>Year</strong></td> <td style="text-align: center; width: 21.3675%;"><strong>Rev(Cr)</strong></td> <td style="text-align: center; width: 20.5128%;"><strong>PAT(Cr)</strong></td> <td style="text-align: center; width: 13.9601%;"><strong>AUM</strong></td> <td style="text-align: center; width: 15.0932%;"><strong>EPS</strong></td> <td style="text-align: center; width: 16.5307%;"><strong>Book Value</strong></td> </tr> <tr> <td style="text-align: center; width: 12.8205%;">2014</td> <td style="text-align: center; width: 21.3675%;">1,688</td> <td style="text-align: center; width: 20.5128%;">209</td> <td style="text-align: center; width: 13.9601%;">13560</td> <td style="text-align: center; width: 15.0932%;">4.32</td> <td style="text-align: center; width: 16.5307%;">31.70</td> </tr> <tr> <td style="text-align: center; width: 12.8205%;">2015</td> <td style="text-align: center; width: 21.3675%;">2,527</td> <td style="text-align: center; width: 20.5128%;">349</td> <td style="text-align: center; width: 13.9601%;">19290</td> <td style="text-align: center; width: 15.0932%;">6.63</td> <td style="text-align: center; width: 16.5307%;">44.68</td> </tr> <tr> <td style="text-align: center; width: 12.8205%;">2016</td> <td style="text-align: center; width: 21.3675%;">3,302</td> <td style="text-align: center; width: 20.5128%;">534</td> <td style="text-align: center; width: 13.9601%;">25906</td> <td style="text-align: center; width: 15.0932%;">7.64</td> <td style="text-align: center; width: 16.5307%;">50.87</td> </tr> <tr> <td style="text-align: center; width: 12.8205%;">2017</td> <td style="text-align: center; width: 21.3675%;">5714</td> <td style="text-align: center; width: 20.5128%;">698</td> <td style="text-align: center; width: 13.9601%;">34277</td> <td style="text-align: center; width: 15.0932%;">9.64</td> <td style="text-align: center; width: 16.5307%;">68.73</td> </tr> <tr> <td style="text-align: center; width: 12.8205%;">2018</td> <td style="text-align: center; width: 21.3675%;">7061</td> <td style="text-align: center; width: 20.5128%;">951</td> <td style="text-align: center; width: 13.9601%;">44469</td> <td style="text-align: center; width: 15.0932%;">12.18</td> <td style="text-align: center; width: 16.5307%;">79.22</td> </tr> </tbody> </table> <p><strong> </strong><span style="font-size: 14pt;"><strong>UZ Financial Review <br /><br /></strong></span><strong> 1.</strong> The Company has shown excellent Revenue Growth of 43% in the last 5 years. <br /><br /><strong>2</strong>. The Company has shown excellent PAT Growth of 46% in the last 5 years. <br /><br /><strong>3.</strong> The Company has excellent growth of AUM( Asset Under Management). As on 31st March 2018, they have close to 45000 Cr of the loan book. <br /><br /><strong>4.</strong> The Company is paying good dividends. This year they have given 9% dividend per share on FV=10. <br /><br /><strong>5</strong>. The ratio of Gross non-performing assets to gross advances and net non-performing stands at 1.58% and 0.96% as on 31st March 2018. The company has a manageable NPAs level. <br /><br /><span style="font-size: 14pt;"><strong>Valuation of the Company</strong></span><strong> <br /><br /></strong><strong> </strong>The company has listed peer in the name of Bajaj Finance Let us see do the comparison and arrives at the fair value of HDB Financial Services. <br /><br />The comparison has done by taking FY18 Financials. <br /><br /><strong>a) Bajaj Finance: <br /><br /></strong>1. Mcap = 169,367.86 Cr. <br /><br />2. Book Value = 287. <br /><br />3. Price = 2930. <br /><br />4. P/B = 10.20 5. <br /><br />Revenue= 13000 Cr. <br /><br />6. Revenue Growth of last 5 years = 34.84% <br /><br />7. PAT Growth of last 5 years = 38.50% <br /><br /><strong>b) HDB Financial Services Limited:</strong> <br /><br />1. Revenue = 7000 Cr <br /><br />2. Revenue Growth in the last 5 years = 43% <br /><br />3. Book Value = 79.22 <br /><br />4. PAT growth in last 5 years = 46% <br /><br />If we give the same valuation in terms of P/B of 10 to HDB Financial Services as in the case of Bajaj Finance, the Fair value as per FY18 Financials for HDB Financial Services comes out to be around 790-800 per Share. At this price, the HDB Financial Services commands a Mcap of 62000 Cr. <br /><br /><span style="font-size: 14pt;"><strong>UZ View:</strong></span><strong> <br /><br /></strong><strong> </strong>Recently in the last few weeks, we have observed that the price of HDB Financial Services has shot up like anything from 880 to 980 level in the anticipation of Right Issue coming. However, in the interest of the Investor community, we at UnlistedZone strongly believe the CMP of HDB is too high for an investor to buy. Even the HDFC Bank which is listed company is trading at P/B of 5.7.<strong> <br /><br /></strong><strong> </strong><span style="font-size: 14pt;"><strong>The HDB Financial Services at the Current Market Price is Overvalued.</strong></span></p>
<h2 class="ltext-inf paddingBottom20"><span style="font-size: 12pt;">Now, UK-based FIIs can route their orders through this platform</span></h2> <div id="content-body-22285694-26546751"> Bank of England (BoE) has granted recognition to the clearing corporation (CC) of Metropolitan Stock Exchange of India (MSEI) for routing trades from the UK to India’s stock exchanges. In preparation for Brexit, UK-based entities have to get trades routed from a CC approved by the BoE for transactions in India. The move is significant as UK-based foreign institutional investors may be able to route their orders through the MSEI CC for trading in Indian markets once interoperability between CCs kicks in from June 1. <h1><span style="font-size: 12pt;"><a href="https://www.thehindubusinessline.com/markets/msei-clearing-corp-gets-boe-recognition-ahead-of-brexit/article26546751.ece"><span style="text-decoration: underline;"><strong>Read more here</strong></span></a></span></h1> </div>
The National Company Law Appellate Tribunal Friday refused to stay a bankruptcy court order approving steel giant ArcelorMittal's Rs 42,000 crore takeover bid for Essar SteelNSE 0.00 % and sought a fresh plan for the distribution of bid amount between financial and operational creditors of the debt-laden firm. Read more at <span style="text-decoration: underline;"><a href="https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclat-refuses-stay-on-nclt-nod-to-arcelormittal-plan-seek-fresh-distribution-plan-for-bid-amt/articleshow/68428571.cms?from=mdr"><span style="font-size: 12pt;">Here</span></a></span>
<img class="alignnone size-medium wp-image-583" src="https://unlistedzone.com/storage/knowledge-logo/IMG-20190311-WA0033-254x300.jpg" alt="" width="254" height="300" />
<strong>1</strong>. The company has posted a <strong>decent growth</strong> of 17% QoQ basis and 14.44% on YoY Basis. <strong>2</strong>. The company has posted a <strong>Profit</strong> of 74 Lakh against loss of 31 Cr last Qtr and a loss of 46 Cr last year which is big positive for the company. <strong>3</strong>. The <strong>Gross NPA</strong> has also gone down QoQ basis from 8.26% to 7.52%. <strong>4</strong>. The Bank has issued <strong>1,98,32,130</strong> Equity Shares @ Rs. 140/- per Equity Share (including premium of Rs. 130/- per share) to FIH Mauritius Investments Limited. Out of the said issue of Equity Shares, the Bank has received an amount of Rs. 35/- per Equity Share (Rs. 2.50/- towards Share Capital and Rs. 32.50/- towards Share premium)-aggregating to Rs. 69,41,24,550/- (Rupees Sixty Nine Crore Forty One Lakhs Twenty Four Thousand and Five Hundred Fifty) towards application and allotment money. <strong>5</strong>. The Bank has also issued<strong> 6,64,63,329</strong> Warrants (being Compulsorily convertible into or exchangeable for Equity Shares) @ Rs. 140/- per warrant (including premium of Rs. 130/- per warrant ) to <strong>FIH Mauritius Investments Limited</strong>. Out of the said issue of warrants, the Bank has received an amount of Rs. 56/- per warrant (Rs. 3/- towards Warrant Capital and Rs. 53/- towards warrant premium) aggregating to Rs. 372,19,46,424 towards application and allotment money. <strong>6</strong>. Consequent to the above the paid up equity capital of the Bank increased from Rs. 81.01 crores to Rs. 85.97 crores and share premium account from Rs.647.51 crores to Rs. 1064.22 crores. The Bank has also accounted share warrant capital amounting to Rs. 19.94 crores.
<div> Fewer Indian firms are raising money through initial public offerings (IPOs) as a strong appetite for fast-growing businesses from venture capital and private equity firms have made them less dependent on the stressed primary market <div>Read more at: <span style="font-size: 12pt;"><strong style="color: #ff6600; text-decoration: underline; line-height: 1.4;"><a style="text-decoration: underline;" href="https://economictimes.indiatimes.com/markets/ipos/fpos/ipos-can-wait-most-indian-firms-prefer-private-lane/articleshow/68297118.cms">[ Economics Times News]</a></strong></span></div> </div>
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