Lohia Securities Ltd

Lohia Securities Ltd

₹ 195 0.59%
21 Jul 2023
About

Lohia Securities ltd is a stock broker and depository participant. Company is engaged in cash market, equity derivative, currency derivative, interest rate future and debt market through NSE; cash market, equity derivative, currency derivative, interest rate future and debt market through BSE; and currency derivative and interest rate future through MSEI. [1]

Key Points

Service Offerings
The Co is engaged in the business of stock broking and depository participation. The Company has a membership of NSE Ltd, BSE Ltd., Metropolitan Stock Exchange of India Ltd, and Calcutta Stock Exchange Ltd.
It is a depository participant of NSDL and an active participant in the cash market, equity derivative, currency derivative, and Interest rate future and debt market through NSE; cash market, equity derivative, currency derivative, and Interest rate future and debt market through BSE; and currency derivative and Interest rate future through MSEI. It has also membership in the commodity derivative segment of NSE and BSE. [1]

  • Market Cap 97.1 Cr.
  • Current Price 195
  • High / Low 285 / 183
  • Stock P/E 4.50
  • Book Value 205
  • Dividend Yield 0.10 %
  • ROCE 34.0 %
  • ROE 33.0 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.95 times its book value
  • Company has delivered good profit growth of 83.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.8%

Cons

  • Contingent liabilities of Rs.78.2 Cr.
  • Debtor days have increased from 50.5 to 87.9 days.
  • Working capital days have increased from 79.0 days to 120 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
26 29 60 62 82 69 87 65 68 67 43 60 100
22 26 58 56 72 62 82 45 61 63 38 53 84
Operating Profit 4 3 3 7 10 7 6 20 7 5 5 7 17
OPM % 14% 10% 4% 11% 12% 10% 7% 31% 10% 7% 12% 12% 16%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 3 2 2 6 9 6 5 19 6 3 4 6 15
Tax % -1% 0% 149% -1% 43% 23% 30% 25% 26% 25% 28% 26% 25%
3 2 -1 6 5 4 3 15 4 3 3 4 12
EPS in Rs 6.06 4.52 -1.79 11.88 9.73 8.81 6.58 29.12 8.81 5.30 5.80 9.03 23.20
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
48 56 29 44 43 72 63 53 76 133 300 244 271
48 55 27 39 42 67 58 49 66 119 271 207 238
Operating Profit -0 1 2 5 1 5 5 4 10 14 29 37 34
OPM % -1% 3% 7% 12% 3% 7% 8% 8% 13% 11% 10% 15% 12%
0 0 1 0 0 0 0 -0 0 0 0 0 0
Interest 2 3 2 1 1 1 2 2 3 3 4 4 4
Depreciation 1 1 1 1 0 0 0 0 0 0 0 1 1
Profit before tax -4 -2 1 3 -0 4 3 1 6 11 25 33 29
Tax % 21% 36% 35% 32% -25% 36% 54% 63% 28% 24% 26% 25%
-3 -1 0 2 -0 3 1 0 4 9 18 24 22
EPS in Rs -5.64 -2.37 0.90 4.44 -0.62 5.14 2.35 0.90 8.75 17.46 36.99 49.03 43.33
Dividend Payout % -3% -8% 21% 4% 0% 0% 8% 21% 2% 15% 1% 0%
Compounded Sales Growth
10 Years: 16%
5 Years: 31%
3 Years: 48%
TTM: -6%
Compounded Profit Growth
10 Years: 37%
5 Years: 84%
3 Years: 78%
TTM: -19%
Stock Price CAGR
10 Years: 10%
5 Years: 39%
3 Years: 66%
1 Year: -12%
Return on Equity
10 Years: 16%
5 Years: 24%
3 Years: 31%
Last Year: 33%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 22 21 21 23 23 25 26 27 31 40 57 82 97
21 17 7 7 7 20 6 22 24 8 23 44 55
4 6 5 5 3 3 7 2 2 2 5 4 17
Total Liabilities 52 49 38 39 37 53 44 56 62 55 89 134 174
4 3 2 1 1 6 5 5 6 6 6 7 7
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1 5 6 6 6 1 1 1 1 2 2 2 2
47 41 30 32 30 47 38 49 56 47 81 125 165
Total Assets 52 49 38 39 37 53 44 56 62 55 89 134 174

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 1 -3 1 0 1 4 3 8 -1 4 20
-7 5 15 1 0 -12 11 -8 -4 15 3 -17
4 -7 -11 -2 -1 13 -16 7 -2 -16 -1 -8
Net Cash Flow -2 -1 1 1 -0 1 -2 2 1 -2 6 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 5 10 8 8 15 8 23 22 26 28 35 88
Inventory Days 42 19 57 46 31 24 33 0 0 0 0 0
Days Payable 2 4 9 4 6 3 0
Cash Conversion Cycle 45 25 55 50 39 29 55 22 26 28 35 88
Working Capital Days 34 3 31 34 51 33 29 102 65 59 59 120
ROCE % -3% 2% 4% 14% 3% 12% 11% 8% 17% 25% 42% 34%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Sep 2023
71.19% 71.19% 72.80% 72.80% 72.80% 72.80% 72.80% 72.80% 72.80% 72.80% 74.21% 74.21%
0.00% 0.00% 0.00% 0.00% 20.48% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
28.81% 28.81% 27.20% 27.20% 6.72% 27.20% 27.20% 27.20% 27.21% 27.20% 25.79% 25.79%
No. of Shareholders 457448487495601661728752795835804855

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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