Garnet International Ltd // Other Financial Services

Pros:
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 26.18%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Company has a low return on equity of 13.48% for last 3 years.

Peer Comparison

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. IIFL Holdings 431.25 10.97 13759.66 1.16 344.55 36.34 1767.98 24.64 10.04
2. Edelweiss.Fin. 167.65 17.02 15602.45 0.79 258.82 14.73 2435.47 17.71 10.79
3. ICICI Sec 256.55 14.53 8264.54 3.66 133.82 13.00 435.86 8.59 75.77
4. Capital First 472.10 12.92 4676.28 0.59 101.52 55.30 1045.41 38.12 9.21
5. Indiabulls Vent. 461.90 77.69 27943.99 0.17 140.70 154.25 476.33 192.96 12.42
6. CRISIL 1573.25 32.89 11345.62 1.77 90.01 29.66 425.46 3.84 41.16
7. CARE Ratings 1103.75 20.22 3251.78 4.98 25.16 59.99 41.78
8. Garnet Intl. 66.90 130.65 0.75 -17.62 -535.06 50.73 106.56 11.13

Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018
7.02 7.34 12.02 28.91 24.56 38.84 157.18 137.47 50.73
6.55 6.05 10.06 28.07 18.97 35.09 152.60 0.00 68.11
Operating Profit 0.47 1.29 1.96 0.84 5.59 3.75 4.58 137.47 -17.38
OPM % 6.70% 17.57% 16.31% 2.91% 22.76% 9.65% 2.91% 100.00% -34.26%
Other Income 0.00 0.00 0.01 8.79 0.00 0.00 0.00 -2.49 0.00
Depreciation 0.15 0.15 0.16 0.16 0.19 0.20 0.20 0.00 0.21
Interest 0.01 0.01 0.01 0.06 0.01 -0.01 0.00 138.75 0.03
Profit before tax 0.31 1.14 1.80 9.41 5.40 3.55 4.39 -3.76 -17.63
Tax 0.11 0.10 0.17 2.34 1.35 1.03 1.00 -1.24 0.00
Net Profit 0.20 1.04 1.64 7.08 4.05 2.52 3.39 -2.52 -17.62

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
18.60 41.08 30.56 9.20 10.80 14.58 37.33 64.09 355.57 384.22
13.83 35.84 28.71 8.20 9.45 12.38 34.53 50.73 344.26 255.80
Operating Profit 4.77 5.24 1.85 1.00 1.35 2.20 2.80 13.36 11.31 128.42
OPM % 25.65% 12.76% 6.05% 10.87% 12.50% 15.09% 7.50% 20.85% 3.18% 33.42%
Other Income 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 -2.49
Interest 0.00 0.17 0.54 0.00 0.00 0.01 0.20 0.08 0.92 138.77
Depreciation 0.02 0.08 0.45 0.47 0.49 0.44 0.50 0.61 0.82 0.61
Profit before tax 4.75 4.99 0.86 0.54 0.86 1.75 2.10 12.67 9.57 -13.45
Tax % 5.89% 4.01% 31.40% 31.48% 32.56% 10.29% 35.24% 21.47% -18.29%
Net Profit 4.47 4.68 0.59 0.19 0.34 1.12 0.70 9.70 11.43 -14.23
EPS in Rs 3.09 3.24 0.41 0.10 0.18 0.57 0.33 5.11 5.85
Dividend Payout % 10.58% 10.11% 8.02% 0.00% 0.00% 27.81% 62.30% 7.71% 8.54%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:107.70%
3 Years:189.99%
TTM:427.56%
Compounded Profit Growth
10 Years:%
5 Years:126.91%
3 Years:116.27%
TTM:-203.04%
Return on Equity
10 Years:%
5 Years:9.40%
3 Years:13.48%
TTM:16.33%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
4.73 4.73 4.73 6.23 6.23 6.23 6.23 6.23 19.53
Reserves 12.29 16.92 17.45 36.38 36.72 37.42 37.60 46.41 67.86
Borrowings 0.00 7.02 2.10 1.38 0.99 0.90 1.17 0.96 47.49
1.70 3.14 7.61 4.40 5.16 6.25 14.44 9.20 10.37
Total Liabilities 18.72 31.81 31.89 48.39 49.10 50.80 59.44 62.80 145.25
0.34 5.80 5.69 5.12 4.78 5.14 6.90 10.51 12.26
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 4.26 7.24 12.99 12.56 33.18 24.46 26.29 41.77 35.28
14.12 18.77 13.21 30.71 11.14 21.20 26.25 10.52 97.71
Total Assets 18.72 31.81 31.89 48.39 49.10 50.80 59.44 62.80 145.25

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-8.97 -5.95 2.21 -20.65 22.26 1.07 3.85 13.38 -78.31
11.17 -5.34 1.99 1.10 -20.71 1.20 -3.12 -11.59 12.32
0.08 11.18 -6.19 19.67 -1.69 -0.15 -0.34 -0.80 68.75
Net Cash Flow 2.28 -0.11 -1.99 0.12 -0.14 2.12 0.39 0.99 2.77