Florence Investech Ltd(Merged)

Florence Investech Ltd. is an India-based investment company. The Company is engaged in the business of investment in shares and securities.

Pros:
Company is virtually debt free.
Market value of investments Rs.1650.76 Cr. is more than the Market Cap Rs.424.77 Cr.
Company has been maintaining a healthy dividend payout of 50.05%
Cons:
Stock is trading at 2.69 times its book value
Tax rate seems low
Company has a low return on equity of 12.34% for last 3 years.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
0.19 10.10 2.46 2.06 0.69 12.67 0.28 0.86 0.69 10.56 1.21 3.09
0.06 0.12 0.08 0.12 0.07 0.15 0.09 0.09 0.14 0.11 0.11 0.09
Operating Profit 0.13 9.98 2.38 1.94 0.62 12.52 0.19 0.77 0.55 10.45 1.10 3.00
OPM % 68.42% 98.81% 96.75% 94.17% 89.86% 98.82% 67.86% 89.53% 79.71% 98.96% 90.91% 97.09%
Other Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.01
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 0.13 9.98 2.38 1.94 0.62 12.52 0.19 0.79 0.55 10.45 1.10 3.01
Tax % 30.77% 1.00% 33.61% 3.09% 30.65% 0.48% 31.58% 36.71% 25.45% 0.19% 21.82% 20.60%
Net Profit 0.09 9.88 1.59 1.88 0.42 12.45 0.13 0.50 0.41 10.43 0.86 2.39
EPS in Rs 0.26 29.93 4.81 5.71 1.28 37.73 0.39 1.51 1.24 31.60 2.61 7.24
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2006 Mar 2007 Mar 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
60.85 78.14 88.67 137.43 112.71 129.42 6.67 7.38 7.30 34.23 14.81 14.50 15.55
60.99 73.66 83.67 149.33 106.93 112.61 0.13 0.61 0.35 0.38 0.39 0.40 0.45
Operating Profit -0.14 4.48 5.00 -11.90 5.78 16.81 6.54 6.77 6.95 33.85 14.42 14.10 15.10
OPM % -0.23% 5.73% 5.64% -8.66% 5.13% 12.99% 98.05% 91.73% 95.21% 98.89% 97.37% 97.24% 97.11%
Other Income 14.24 6.19 6.81 11.18 9.93 0.09 0.00 0.00 0.00 0.00 0.01 0.02 0.01
Interest 0.05 0.27 0.99 3.38 2.08 2.95 0.00 0.13 0.00 0.00 0.00 0.00 0.00
Depreciation 1.78 1.89 2.08 3.26 2.64 2.97 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 12.27 8.51 8.74 -7.36 10.99 10.98 6.54 6.64 6.95 33.85 14.43 14.12 15.11
Tax % 12.96% 38.31% 26.20% 83.42% 3.82% 0.82% 1.53% 0.75% 1.58% 15.86% 6.86% 4.32%
Net Profit 10.68 5.25 6.45 -1.22 10.57 10.89 6.44 6.59 6.84 28.48 13.43 13.50 14.09
EPS in Rs 30.49 14.99 18.41 0.00 30.17 31.11 19.39 13.31 20.43 86.00 40.71 28.59 42.69
Dividend Payout % 0.00% 0.00% 0.00% -0.00% 0.00% 0.00% 7.76% 7.58% 7.30% 1.75% 74.39% 74.00%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-16.56%
5 Years:16.80%
3 Years:25.70%
TTM:7.24%
Compounded Profit Growth
10 Years:7.67%
5 Years:15.96%
3 Years:25.44%
TTM:4.37%
Stock Price CAGR
10 Years:23.10%
5 Years:28.11%
3 Years:27.95%
1 Year:-6.38%
Return on Equity
10 Years:%
5 Years:10.13%
3 Years:12.34%
Last Year:8.57%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
46.01 46.01 46.01 46.01 46.01 46.01 3.33 3.33 3.33 3.33 3.33 3.33 3.33
Reserves 31.49 36.74 43.19 41.96 52.60 63.48 105.95 111.94 118.19 146.06 159.50 148.96 153.02
Borrowings 42.95 51.94 58.71 69.62 76.22 95.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00
77.39 91.89 105.94 76.47 96.20 83.58 0.81 0.79 0.73 0.75 0.31 0.35 1.25
Total Liabilities 155.34 184.08 211.35 191.56 228.53 246.09 110.09 116.06 122.25 150.14 163.14 152.64 157.60
26.00 31.55 32.81 30.83 40.99 40.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CWIP 0.00 0.00 0.12 0.25 0.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 66.81 66.81 66.55 83.26 78.94 99.97 99.97 110.90 121.12 143.84 154.74 142.11 122.15
62.53 85.72 111.87 77.22 108.30 105.77 10.12 5.16 1.13 6.30 8.40 10.53 35.45
Total Assets 155.34 184.08 211.35 191.56 228.53 246.09 110.09 116.06 122.25 150.14 163.14 152.64 157.60

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-3.53 2.77 -14.75 -13.84 -7.04 -0.10 -6.66 4.21 -0.52 -5.90 -1.99 0.06
6.94 -5.20 1.96 -8.48 3.52 -17.05 5.40 -3.56 1.07 6.51 2.91 23.95
-0.04 8.73 5.84 7.75 4.69 17.22 0.00 -0.59 -0.58 -0.60 -0.60 -24.04
Net Cash Flow 3.37 6.30 -6.95 -14.57 1.17 0.07 -1.26 0.06 -0.03 0.01 0.32 -0.03

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 6.87% 6.89% -2.60% 7.87% 7.35% 4.16% 6.03% 5.87% 24.99% 9.24% 8.96%
Debtor Days 77.20 153.82 206.52 68.26 140.64 104.24 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover 7.23 4.17 4.53 3.47 3.41 0.34