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<p>HDFC Securities has announced its quarterly results for quarter ended December 31, 2022 and nine months ended December 31, 2022. <br /><br />The net profit of the Company has dropped 22% for the quarter ended December 31, 2022 and nine months ended. As per the financial results, for the quarter ended December 31, 2022, the revenue from operations of the Company has increased 8% to Rs. 500 crore as against Rs. 463 crore in the previous quarter. <br /><br />For nine months ended December 31, 2022, the revenue from operations of the Company has increased 5% to Rs. 1392 crore as against Rs.1469 crore for the same period previous year. For the quarter ended December 31, the total expenses of the Company have increased 13% to Rs. 237 crore as against Rs. 210 crore in the previous quarter. <br /><br />For nine months ended December 31, the total expenses of the Company have increased 32% to Rs. 627 crore as against Rs. 476 crore for the same period previous financial year. During the third quarter FY23, the profit before tax of the Company has increased 4% to Rs. 267 crore as against Rs. 257 crore in the previous quarter. <br /><br />For nine months ended December 31, the profit before tax of the Company dropped 22% to Rs. 778 crore as against Rs. 77,831 1004 crore for the same period in the previous financial year. For the third quarter of FY23, the net profit of the Company has increased 8% to Rs. 203 crore as against Rs. 190 crore in the previous quarter. <br /><br />For nine months ended December 31, 2022, the net profit of the Company has also dropped 22% to Rs. 583 crore as against Rs. 748 crore during the same period previous financial year. There was not any significant change in the assets and liabilities of the Company.They almost remained the same. <br /><br />For nine months ended December 31, 2022, the net cash used in operating activities of the Company was 62 crore as against Rs. 1263 crore during the same period previous financial year. The net cash used in investing activities of the Company was Rs. 673 crore as against Rs. 14 crore during the same period previous financial year. The net cash used in financial activities of the Company was Rs. 389 crore as against Rs. 2182 crore cash generated during the same period previous financial year. <br /><br />Started in 2000 as a joint venture of HDFC Bank and Indocean eSecurities Holdings Limited, HDFC securities is one of the largest full-service SEBI-registered stock brokers in India. It is a subsidiary of HDFC Bank Ltd. In addition to stock broking services, HDFC Securities provides many other financial products as well. The Company provides the facility to trade and invest in stocks, mutual funds, buybacks, bonds, IPO, commodities, currency, futures and options. So far the Company provides its services to 1.2 million active clients. <br /><br /><a href="https://unlistedzone.com/shares/hdfc-securities-limited-share-price-buy-sell-hdfc-securities-unlisted-shares/">https://unlistedzone.com/shares/hdfc-securities-limited-share-price-buy-sell-hdfc-securities-unlisted-shares/</a></p>
Swiss headquartered Trafigura sold its 24.5% interest in Nayara Energy Limited to Hara Capital Sarl unrooting its ties with Russian Energy giant Rosneft. Hara Capital Sarl is a Rome based investment group, a wholly owned subsidiary of Mareterra Group Holding. Rosneft is the single largest shareholder of Nayara Energy Limited with 49.13% shareholding. Trafigura said it had completed the sale of its "indirect minority interest" in Nayara Energy to Hara Capital Sarl, a wholly-owned subsidiary of Mareterra Group Holding. Trafigura was looking to sell its stake in 2021 to Mareterra Group Holding. The size of the deal is not announced officially but people involved in the deal said Hara paid $165.9 million or the book value of stake based on Trafigura last year's annual report. Mareterra Group, an investment firm that focuses on energy and carbon efficiency infrastructure, is active in France, Italy, Luxembourg and Spain and wants to expand beyond Europe, the statement said. As a new shareholder in Nayara Energy, it will bring its strong experience in reducing the carbon footprint of fuel stations, installing electric charging stations, and improving energy efficiency at industrial assets," it said.
<p>HDFC Securities has announced unaudited Financial Results for the half year ended 30st September, 2022. As per the report, the first half of the Company for the financial year 2022-23 wasn't good as compared to the same period previous year. During this, the net profit of the Company has dropped 22%. <br /><br />The revenue from operations has dropped 5% to Rs. 891 crore for the half year ended 30st September, 2022 as against Rs. 937 crore for the same period previous year. While the total revenue from operations increased 8% to Rs. 463 crore in the second quarter of financial year 2022-23 as against Rs. 428 crore in the previous quarter same year. <br /><br />For the first half of financial year 2022-23, the total expenses of the Company has increased 35% to Rs. 389 crore as against Rs. 288 crore in the same period previous year. <br /><br />The expenses, for the second quarter of the financial year 2022-23, have increased 17% to Rs. 210 crore as against Rs. 179 crore in the previous quarter same year. For the first half of financial year 2022-23, The PBT of the Company decreased 22% to Rs. 510 as against Rs. 657 crore in the same period previous year. <br /><br />The PBT of the Company, for the second quarter of the financial year 2022-23, reported marginal growth of 2%. For the first half of the financial year 2022-23, the net profit dropped 22% to Rs. 380 crore as against Rs. 490 crore for the same period previous year. For the second quarter of the financial year 2022-23, the PBT of the Company increased by 0.5% to Rs. 190 crore as against Rs. 189 crore in the previous quarter. For the second quarter, the net assets of the Company dropped 4% to Rs. 7620 crore as against Rs. 7922 crore in the previous quarter. For the second quarter, the total equity and liabilities of the Company has also dropped 4% to Rs. 7620 crore as against Rs. 7922 crore for the same period. <br /><br /><img class="aligncenter wp-image-25384" src="https://unlistedzone.com/storage/knowledge-logo/HDFC-Securities-Financials.webp" alt="HDFC Securities 6MFY23 Results" width="489" height="489" /><br /><br />For the first half of the financial year 2022-23, the net cash generated from operating activities of the Company was Rs. 191 crore as against Rs. 1276 cash used in the same period previous year. The net cash used in investing activities of the Company was Rs. 486 crore as against Rs. 3 crore in the same period previous year. <br /><br />The net cash used in financial activities of the Company was Rs. 617 crore as against Rs.1054 crore in the same period previous year. Started in 2000 as a joint venture of HDFC Bank and Indocean eSecurities Holdings Limited, HDFC securities is one of the largest full-service SEBI-registered stock brokers in India. It is a subsidiary of HDFC Bank Ltd. In addition to stock broking services, HDFC Securities provides many other financial products as well. <br /><br />The Company provides the facility to trade and invest in stocks, mutual funds, buybacks, bonds, IPO, commodities, currency, futures and options. So far the Company provides its services to 1.2 million active clients. <br /><br /><a href="https://unlistedzone.com/shares/hdfc-securities-limited-share-price-buy-sell-hdfc-securities-unlisted-shares/">https://unlistedzone.com/shares/hdfc-securities-limited-share-price-buy-sell-hdfc-securities-unlisted-shares/</a></p>
<h3><b>About Right Issue </b></h3> <span style="font-weight: 400;">ICL Fincorp Limited has decided to raise funds via the induction of fresh shares from existing shareholders of the Company through the right issue to strengthen its financial position and support its business operations and expansion of its branches. In the board meeting held on 19th December 2022, the board passed a resolution for the right issue.</span> <ol> <li><span style="font-weight: 400;"> As per the offer letter, the size of the rights issue is RS. 110,83,73,800 aggregating 4,43,34,952 fresh equity shares at Rs.25/- each for cash (face value of Rs.10/- and premium of Rs.15/-) on rights basis to the existing equity shareholders of the Company in the ratio of 1:1 i.e, 1 equity share for every 1 equity share held as on record date December 19, 2022, by the eligible equity shareholders.</span></li> <li><span style="font-weight: 400;"> The issue will remain open for 30 days starting from January 02, 2023, till the working hours i.e. 5.00 pm on January 31, 2023.</span></li> </ol> <h3><b>Why is the company raising funds via Right Issue.?</b></h3> <span style="font-weight: 400;">As per the offer letter, the Company proposed to utilize the fund to strengthen its financial position and support its business operations and expansion of its branches. The Company is in its growing phase and requires sufficient working capital. The fund will help the Company to strengthen its balance sheet and lessen finance costs. In FY22, the company acquired Kolkata-based Non-Banking Financial Company, Salem Erode Investments Limited (SEIL), so the workforce of the Company has also reached 1000 plus. </span> <h3><b>About ICL Fincorp</b></h3> <span style="font-weight: 400;">ICL Fincorp Limited is a leading nonbanking financial company engaged in offering business loans, gold loans, hire purchase loan, personal loans, loans for home appliances, loans for vehicle purchases etc.</span> <span style="font-weight: 400;">ICL Fincorp Limited is a leading Non-Banking Financial Company that providing gold loans, business loans, hire purchase loans, etc. for the past 31 years. With its lending business and financial products, the company enables its customers to pursue ambitious growth strategies and execute value-creating transactions. The Company provides services suited to serve the general public financial needs. </span> <span style="font-weight: 400;">Incorporated in 1991, the company has its registered office in Chennai and its administrative office at Irinjalakuda, Thrissur, Kerala. As of now, the Company is operating in the southern region of the country. It has recently opened two new branches in Odisha. The Company is planning to expand its business in the northern part of the country as well starting from New Delhi, Madhya Pradesh, Maharashtra, West Bengal, Puducherry, and Goa. </span> <h3><b>How to apply in Right Issue</b></h3> <span style="font-weight: 400;">In the offer letter of the right issue of the Company, an application form is given which is needed to be filled out by those who are interested in applying for the right issue. In the application form, it is mandatory to fill in all the details correctly asking in the application form. Following are the points needed to be filled such as the name and contact details of the applicant, Demat account details, nominee details, application details, payment details, and declaration. </span> <span style="font-weight: 400;">The applicant should make sure that the application form should reach the following address or the nearest branches of the Company and make payment of the application money on or before the issue closing date. </span> <h3><b>Address </b></h3> <span style="font-weight: 400;">ICL Fincorp Limited </span><span style="font-weight: 400;">Secretarial Department </span><span style="font-weight: 400;">Corp Office: Main Road, </span><span style="font-weight: 400;">Irinjalakuda, Thrissur, Kerala – 680121 </span><span style="font-weight: 400;">Ph: 0480 - 2828071, 2831305</span> <h3><b>Payment Channel </b></h3> <span style="font-weight: 400;">Name: ICL Fincorp Ltd – Share Application </span><span style="font-weight: 400;">Account No: 918020066281959 </span><span style="font-weight: 400;">Bank: Axis Bank Limited </span><span style="font-weight: 400;">Branch : Irinjalakuda </span><span style="font-weight: 400;">IFSC: UTIB0000879</span> <span style="font-weight: 400;">Note: Application forms with any incorrect information or unfilled point will summarily be rejected without any intimation. The application form must be filled in English and in block letters. </span> https://unlistedzone.com/shares/icl-fincorp-limited-unlisted-shares/
Reliance Retail Venture Limited (RRVL) has signed an agreement to acquire 100% stake in Metro Cash and Carry India Private Limited on December 22. Metro Cash and Carry India Private Limited is the part of German firm Metro AG operating in India. Metro AG is selling its India Operations for Rs. 2850 crore to RRVL. ''Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, today signed definitive agreements to acquire a 100 percent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments,'' said in a joint statement. Metro Cash and Carry India Private Limited was the first Company in India to introduce Cash and Carry business model. It operates in distributor and service provider category. It has established trusted parternship with samll businesses and kiranas. It offers a wide range of products to its customers such as householf goods, electronics, apparel, beauty and health products, vegetables and fruits, meat and fish, grocery and dairy etc. The Company is spread over 21 cities with 31 large stores across the country. The Company, with 3500 employees, is serving 30+ lakhs customers out of which 10+ lakhs are loyal customers. In FY22, the Company recorded all time highest sales of Rs. 7700 crore. It is the best performance of the Company since its inception. EBITDA has increased 19% over previous financial year. The Company has a healthy assets. "Through this acquisition, Reliance Retail gets access to a wide network of METRO India stores located in prime locations across key cities, a large base of registered kiranas and other institutional customers, strong supplier network and some of the global best practices implemented by METRO in India. The acquisit will further strengthen Reliance Retail's physical store footprint and ability to better serve consumers and small merchants by leveraging synergies and efficiencies across supply chain networks, technology platforms and sourcing capabilities," the company said in a statement. "The acquisition of Metro India aligns with our new commerce strategy of building a unique model of shared prosperity through active collaboration with small merchants and enterprises. Metro India is poineer and key player in B2B market and has built a solid multi-channel platform delivering strong customer experience. We believe Metro India's healthy assets combined with our deep understanding of Indian merchant/kirana ecosystem will help offer a differentiated value proposition to small business in India," said Isha Ambani, the director of RRVL. "With Metro India, we are selling a growing and profitable wholesale business in a very dynamic market at the right time. We are convinced that in Reliance we have found a suitable partner who is willing and able to successfully lead Metro India into the future in this market environment," said Steffen Greubel, the CEO of Metro AG. The transaction is expected to take place by March 2023, due to some regulatory requirements. https://unlistedzone.com/shares/reliance-retail-limited-unlisted-shares/
<strong>Tata Technologies will commence a remote e-voting from 9 am on Friday 16-12-2022 to 5 pm Saturday 14-01-2023 to pass following special resolutions</strong> <strong>1. Adoption of amended Articles of Association</strong> The Company is required to change AOA as Equity Shares of the Company are proposed to be listed soon on the exchanges. <strong>2. Sub-division of face value of equity shares</strong> Tata Technology is dividing its face value from Rs 10 to Rs 2 that means for every 1 share shareholder will get 5 shares. <strong>3. Increase in the authorised share capital of the Company</strong> a) The Company is increasing its authorised equity share capital from 60.7 Cr of FV 10 to 350.7 Cr. of FV 2. b) The authorised preference share capital will remain the same at 7 lakh at FV 10. <strong>4. Capitalization of reserves and the issue of bonus shares to the Equity Shareholders of the Company</strong> The bonus shares ratio is 1:1 means for every 1 share you will get 1 bonus share. <strong>5. Increase in investment limits for Non-Resident Indians and Overseas Citizens of India</strong> It is increased from 10% to 24% of the paid-up equity share capital of the Company. <strong>6. Appointment of Ms. Usha Sangwan as an Independent and Woman Director</strong> She will be appointed as an independent director of the Company for a period of three consecutive years from October 21, 2022 to October 20, 2025. <strong>7. Continuation of Mr. Subramanian Ramadorai as a Non-Executive Director of the Company</strong> Mr. Subramanian Ramadorai was appointed as Non-Executive Director of the Company with effect from March 8, 2001, and is continuing as a Non-Executive Director of the Company. <strong>8. Termination of the Tata Technologies Employees Stock Option Scheme 2001</strong> Tata Technology ESOP plan be cancelled due to a new Tata Technologies Limited Stock based Long Term Incentive Scheme 2022. <h5>CONCLUSION</h5> With this Corporate Announcement, the Tata Technology Unlisted share is reduced face value Rs 10 to Rs 2 and issue of 1:1 Bonus share so that every shareholder will get 10 shares for every 1 share. Currently, in the unlisted market the share price of Tata Technologies is Rs 6000 / share so after bonus and split the price will reduce to Rs 600 / share. At current market price of Rs 6000 the P/E is 50x which looks expensive. The IPO might come in the range of Rs 400 to Rs 600 post split and bonus. If we see the financial growth then we can say Tata Technology Unlisted share revenue has increased from 2400 Cr. in FY21 to ~4000 Cr. is expected in FY23, which is phenomenal growth. And if they grow with the same speed in the next 3 to 5 years then good money can be made even at the current market price. <a href="https://unlistedzone.com/storage/knowledge-logo/123067_Tata_Technologies_Limited_Notice_of_Postal_Ballot.pdf">TATA Technologies Notice of Postal Ballot</a> https://unlistedzone.com/shares/tata-technologies-limited-share-price-buy-sell-unlisted-shares-of-tata-technologies/
India's one of the biggest Automotive companies Tata Motors is looking for partial divestment of its stake in Tata Technologies. The news came as Tata Group files a confidential draft red herring prospectus for Tata Play. After the IPO of TCS in 2004, Tata Group is bringing the IPO for the first time in the last 18 years. "We wish to inform you that the IPO committee (duly constituted by the board of directors of Tata Motors) has accorded its in-principle approval to explore the possibility of partial divestment of the company's investment in Tata Technologies through an IPO route", the company said. For the last few years, Tata Group has been looking to raise funds for Tata Technologies, including the sale of stakes to the private equity company. In 2017, Tata Motors was in unsuccessful talks with American private equity firm Warburg Pincus for the sale of some potential stake. A subsidiary of Tata Motors with 72% stake, Tata Technologies has reported 83% growth in its net profit to 436.9 crores in FY22 as against FY21 which is the best performance so far. While the operating revenue jumped 48% to Rs. 3529.6 crores. In FY22, the company generated a significant part of revenue outside the Tata Group which is a good sign for the Company's future growth. About six years ago, 75% of the business of the Company was dependent on Tata Group. Tata Technologies is also looking to expand in aerospace and industrial machinery. In the next three years, the company is expecting to increase the share of the non-automotive sector to 15-18% from 12-13%. <strong>Tata Technologies' unlisted shares are currently offered for Rs. 6000 per share</strong>, and the company made Rs. 258 Cr in profit in the first six months of FY23. The predicted total PAT, if we annualize the first six months of FY23 results, is approximately 516 Cr. With 4.2 Cr. outstanding shares, the anticipated EPS for FY23 is Rs. 122. So, currently, it is available at a <strong>P/E of 50x .</strong> https://unlistedzone.com/shares/tata-technologies-limited-share-price-buy-sell-unlisted-shares-of-tata-technologies/
<h3>Complete Analysis of Boat Unlisted Shares Annual Report 2022</h3> <h3><img class="wp-image-24132 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/Abhishek-MPL-3.png" alt="Boat Unlisted acShare Price" width="384" height="216" /></h3> <h3>a) P&L Statement of Boat Unlisted Share</h3> <strong>1.</strong> Revenue has increased from 132 Crores in Fy21 to 288 Crores in Fy22. <strong> 2.</strong> Total Expenses have increased from 120 Crores in Fy21 to 278 Crores in Fy22. The main factors are, Employee benefit expense which has increased from 15 Crores to 56 Crores and Other expenses from 151 Crores to 340 Crores. <strong> Other Expenses Break-up :</strong> Advertisement cost has increased from 47 Cr to 99 Cr. Warranty Cost has increased from 52 Cr to 136 Cr. <strong>3.</strong> PAT has reduced from 86 Cr in Fy21 to 68 Cr in Fy22 due to high expenses. <h3>b) Cash flow Statement of Boat Unlisted Share ( Bad Cash Flows )</h3> In Fy22, Total Cash generated by <a href="https://unlistedzone.com/shares/boat-unlisted-share-price/">Boat Unlisted Share</a> before working capital changes is 265 Crores. However, 250 Crores of cash is stuck in Inventories , 242 Crores of cash is stuck in Trade Receivables. So, overall they have cash outflow of 317 Crores in Fy22 from Cash flow from operations. ( Negative for the business). In Fy22, they have done acquisition of businesses worth Rs. 192 Crores, 30 Crores they have bought equity shares of an associate company, done FD of 396 Crores. So, overall, Cash flow from Investing is negative 632 Crores. In Fy22, they have raised money from equity worth Rs. 50 Crores, taken short term loan of 885 Crores. So, overall they have financed 894 Crores in Fy22. If you see the cash flow statement of Boat, it is concluded that they have not able to make positive cash flow from operations due to high inventories and trade receivables. Due to this, they have to raised Short term debt of 885 Crores. So, overall there is revenue growth in the business but Boat is not able to generate the cash flow from operations. <h3>Valuation of Boat Unlisted Shares</h3> Total Outstanding Shares as on 31.03.2022 = 9,60, 30,300 Price of Boat Unlisted Shares = Rs.850 per share Mcap = 8100 Crores. https://unlistedzone.com/shares/boat-unlisted-share-price/
<p><span style="font-weight: 400;">HDFC Bank backed HDFC Securities will launch a discount broking platform to directly compete with major discount broking firms such as Zerodha, Groww, Upstox and Angel One. </span> <span style="font-weight: 400;">Dhiraj Relli, chief executive of HDFC Securities, said in a statement to ET that a large and growing customer base is looking for a different set of HDFC product offerings and services. "To cater to this segment of customers, we are launching an entirely new product," he added.</span> <br /><br /><span style="font-weight: 400;">In terms of number of active clients four major discount broking firms are enjoying 53% market shares. Zerodha, Groww, Upstox and Angel One have 18%, 13.58%, 12.05% and 11.50% market share respectively. <br /><br />On the contrary, HDFC Securities has just 3.7% market share. It has managed to maintain its market share this year while many full service broking firms have lost their market share. </span> <br /><br /><span style="font-weight: 400;">Relli said the new platform will focus exclusively on customer delight and value proposition. "As of now, we are playing our cards very close to the chest, but I am confident that our market share will have its own story to narrate," he said.</span> <br /><br /><span style="font-weight: 400;">As per NSE data, between April 2020 and October 2022, the number of active investors jumped 240% and looking at the data, all these new customers chose primarily discount broking firms. Zerodha, the market leader, has reported 52 lakhs increased in its client base from 14 lakhs in March 2020 to 66 lakhs in October 2022 followed by Groww, Upstox and Angel One respectively. <br /><br />While traditional brokers like ICICIdirect, HDFC Securities, Kotak Securities, and Axis Securities have just seen marginal growth in their clients. </span> <span style="font-weight: 400;">Relli said the latest technologies will be at the core of HDFC Securities' new offering, and it will have very competitive and transparent pricing.<br /><br />"There will be multiple value-add services like research, option strategies, portfolio optimiser and basket investing," he said. "This would be a fintech super app offering capital market instruments and multiple other products like loans, insurance, and global investing."</span></p>
Bira91 has raised Rs. 570 crores from Japan's beverage group Kirin Holdings in Series D funding, valuing the company at $550-600 million after the fundraise. This funding took Kirin's Holdings' shareholding to nearly 20% in the Company from 10%. The company will use the fund to expand its production capacity, open new breweries, and upgrade existing facilities. The company will also utilize the capital to expand its distribution network domestically and globally. Said the Company officials in a statement. The company has so far raised $200 million from different investors such as SCI Investments V, Sofina Ventures S.A., Sequoia Capital India, and Kirin Holdings. The company acquired the pub chain The Beer Cafe last month. Established in 2015, Bira 91 is driven by a dynamic team of over 600+ passionate beer lovers and is now spread across 500 towns and cities across 15 countries, brewing its beer across five breweries in India. The company performed significantly well despite the pandemic. The revenue of the company amounted to Rs. 431 crore. The losses of the company decreased by 21% in FY22. “Over the last year, Kirin Holdings has worked with the management team of Bira91 across some of the key aspects of the business, especially in areas of manufacturing capability and sustainability." "We are delighted to see the growth Bira91 has witnessed post the pandemic and we strongly believe that Bira91 has tremendous potential in this growing market,” said Hiromasa Honda, Director, Kirin Holdings Singapore.
<div class="page" title="Page 1"> <div class="section"> <div class="layoutArea"> <div class="column"> <h3><strong>Complete Analysis of Dalmia Bharat Refractory and RHI Magnestia merger</strong></h3> <strong>1.</strong> On March 1st, 2022, Dalmia Bharat Refractories Ltd (DBRL) came into being. Born from the merger of Dalmia Cement (Bharat) Ltd. – Refractory Division, Dalmia Refractories Ltd & GSB India. The shareholders of Dalmia Refractory in the unlisted market got shares of Dalmia Bharat Refractory. Those holding 100 shares of Dalmia Refractory got 768 shares of Dalmia Bharat Refractory. <strong>2.</strong> Currently, Dalmia Bharat Refractories is a holding company which have following subsidiaries, step-down and Joint ventures. <strong>a)</strong> Dalmia Seven Refractories Limited - Joint Venture = 51% <strong>b)</strong> Dalmia GSB Refractories GmbH - Wholly Owned Subsidiary = 100% <strong>c)</strong> Dalmia OCL Limited - Wholly Owned Subsidiary = 100% <strong>d)</strong> OCL Global Limited- Wholly Owned Subsidiary = 100% <strong>e)</strong> OCL China Limited- Step Down Subsidiary = 90% <strong>3.</strong> Now, on, 19.11.2022, under a share swap agreement ("SSA") with Dalmia Bharat Refractories Limited (“DBRL”), RHI Magnestia will acquire 8,24,83,642 of equity shares, each fully paid up, having a face value of INR 10, representing 100% of the equity share capital of Dalmia OCL Limited ("DOCL"). In order to buy 8,248,3642 equity shares of DOCL, RHI Magnestia will issue a total of 270,000,000 shares of its own stock. Therefore, this is essentially a share swap deal. <h3>What is the total number of shares of RHI Magnestia Balance Sheet?</h3> <strong>Total Shares</strong> = 16 Crores ( as on 31.03.2022) <strong>New Shares Issued</strong> = 2.70 Crores to Dalmia Bharat Refractory Total Shares After Issue = 18.70 Crores <strong>Dalmia Bharat Refractory</strong> will hold 14.44% stakes in <strong>RHI Magnestia</strong>. <h3>Conclusion:</h3> As a result of this deal, the whole refractory business of Dalmia Bharat Refractory will be transferred to RHI Magnestia, and Dalmia Bharat Refractory will become an investment company holding 14.4% of RHI Magnestia's shares. After this transaction, the value per share of unlisted Dalmia Bharat Refractory shares will be determined depending on the business performance of RHI Magnestia. </div> </div> </div> </div> <div class="page" title="Page 2"> <div class="section"> <div class="layoutArea"> <div class="column"> <a href="https://unlistedzone.com/storage/knowledge-logo/Deal-Sheet.pdf">Deal Sheet </a> </div> </div> </div> </div>
<strong>a)</strong> Martin and Harris Laboratories revenue has gone up from 138 Crores in Fy21 to 170 Crores in Fy22 from the Pharma business. A decent growth of 25%. <strong>b)</strong> The revenue from FnO income has come down from ~30 Crores in FY21 to ~15 Crores in Fy22. <strong>c)</strong> If you take Revenue, and PAT of Pharma business, it is 138 Crores and 31 Crores in Fy21 and Rs. 171 Crores and 57 Crores in Fy22, respectively. <strong>d)</strong> The EPS of Pharma Business in Fy22 is 146 per share. If you give P/E of 20x to the Pharma business, the Martin and Harris Share Price will come ~Rs.2900 per share. At this price, the Mcap of Pharma business would be ~1100 Crores. <strong>e)</strong> As on 31.03.2022, they have done investment of Rs.317 Crores. Out of Rs.317 Crores, Rs.127 Crores is invested in LIC Mutual Fund Saving Fund and Rs.190 Crores in LIC Mutual Fund Overnight fund. <strong>f)</strong> As on 31.03.2022, the major shareholder is Chang Investchem Private Limited which holds 37.53% stakes in Martin and Harris Laboratory. <strong>g)</strong> Chang Investchem Private Limited (CIPL), as per its annual filings, is engaged in the business of trading books, newspapers, magazines, and stationery. <strong>List of shareholders in CIPL are mentioned below.</strong> <a href="https://unlistedzone.com/storage/knowledge-logo/5733355f48237100053893ec90144285v1_List-of-Shareholders-Chang-Investchem-1.pdf">Shareholders list</a> <strong>Conclusion</strong> Overall, we can conclude that the core Pharma sector has produced favourable outcomes. The business grew by 25% in fiscal year 22 compared to fiscal year 21. At Rs.2900 per share on the unlisted market, the Pharma business is valued at ~1100 Crores, which seems fairly reasonable. The only concern is when management would propose an IPO or other exit strategies for investors. The management currently has no plans for the same.
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