BSE Ltd

BSE has provided a capital-raising platform and provided a platform for trading in equity, debt instruments, derivatives and mutual funds. It also has a platform for trading in equities of small-and-medium enterprises.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 1.09 times its book value
Stock is providing a good dividend yield of 6.00%.
Company has good consistent profit growth of 30.00% over 5 years
Company has been maintaining a healthy dividend payout of 51.95%
Cons:
The company has delivered a poor growth of 5.05% over past five years.
Tax rate seems low
Company has a low return on equity of 13.94% 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 Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
180 126 143 128 174 151 165 169 191 154 157 173
99 81 80 82 115 90 85 92 110 97 105 116
Operating Profit 81 45 63 46 59 62 80 77 81 57 52 57
OPM % 45% 36% 44% 36% 34% 41% 49% 45% 42% 37% 33% 33%
Other Income -43 21 28 30 34 497 11 10 10 13 16 8
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 16 11 12 13 15 10 11 11 13 12 12 13
Profit before tax 22 55 80 63 78 549 79 75 77 59 56 52
Tax % 11% 5% 4% -1% 7% 2% 16% 22% 19% 12% 18% 4%
Net Profit 20 53 76 53 73 524 67 59 62 52 46 50
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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
464 494 534 506 484 584 635 581 647 675
168 187 209 238 240 319 358 355 377 428
Operating Profit 296 308 325 267 244 264 278 227 270 247
OPM % 64% 62% 61% 53% 50% 45% 44% 39% 42% 37%
Other Income 32 40 -20 -66 -17 -10 -12 103 536 47
Interest 0 1 1 2 0 1 0 1 1 1
Depreciation 35 38 34 28 32 59 54 54 45 50
Profit before tax 293 309 270 171 194 195 212 275 760 243
Tax % 27% 25% 24% 22% 18% 22% 17% 4% 7%
Net Profit 232 216 178 109 135 130 133 221 711 210
EPS in Rs 41.00 133.57
Dividend Payout % 18% 19% 36% 39% 31% 40% 61% 68% 27%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:5.05%
3 Years:3.51%
TTM:2.47%
Compounded Profit Growth
10 Years:%
5 Years:30.00%
3 Years:61.57%
TTM:-70.98%
Return on Equity
10 Years:%
5 Years:11.49%
3 Years:13.94%
Last Year:24.62%

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 Sep 2018
10 10 10 10 10 11 11 11 11 10
Reserves 1,941 2,114 2,220 2,279 2,366 2,561 2,512 2,652 3,124 2,915
Borrowings 279 157 559 1 1 4 1 3 0 0
952 1,329 1,158 1,657 1,696 1,629 1,729 2,527 1,858 1,642
Total Liabilities 3,183 3,611 3,947 3,947 4,074 4,205 4,252 5,193 4,993 4,567
112 199 184 194 190 251 237 249 207 165
CWIP 13 1 20 20 34 4 3 6 7 6
Investments 1,877 1,807 1,387 1,354 2,186 2,276 2,118 1,996 2,408 2,325
1,180 1,603 2,356 2,380 1,663 1,674 1,894 2,942 2,370 2,072
Total Assets 3,183 3,611 3,947 3,947 4,074 4,205 4,252 5,193 4,993 4,567

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
-24 -227 -56 -153 -44 817 -246
63 295 128 371 164 95 -236
-24 356 -197 -45 -120 -85 116
Net Cash Flow 15 424 -125 173 -0 827 -366

Ratios Consolidated / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 14% 13% 11% 11% 10% 10% 11% 26%
Debtor Days 8 25 27 25 26 23 27 43 31
Inventory Turnover