Reliance Capital Ltd

Reliance Capital has positioned itself as a Core Investment Company in terms of the Core Investment Companies (Reserve Bank) Directions, 2016. As a CIC, the Company is primarily a holding company, holding investments in its subsidiaries, associates and other group companies. The Company's subsidiaries and associates are engaged in a wide array of businesses in the financial service sector.

Pros:
Stock is trading at 0.13 times its book value
Stock is providing a good dividend yield of 15.96%.
Company is expected to give good quarter
Market value of investments Rs.8101.00 Cr. is more than the Market Cap Rs.1743.69 Cr.
Company has been maintaining a healthy dividend payout of 40.97%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
The company has delivered a poor growth of -3.00% over past five years.
Company has a low return on equity of 5.47% for last 3 years.
Contingent liabilities of Rs.4973.00 Cr.
Promoters have pledged 96.93% of their holding

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
1,358 504 412 360 630 790 417 639 716 563 991 568
170 57 62 -22 66 725 302 693 10 -22 307 -16
Operating Profit 1,188 447 350 382 564 65 115 -54 706 585 684 584
OPM % 87% 89% 85% 106% 90% 8% 28% -8% 99% 104% 69% 103%
Other Income 19 20 35 7 48 9 11 9 11 9 12 9
Interest 584 271 299 347 394 453 455 467 471 479 496 501
Depreciation 8 7 7 7 6 6 5 6 4 4 3 3
Profit before tax 615 189 79 35 212 -385 -334 -518 242 111 197 89
Tax % 14% 11% 30% 29% 27% -8% -25% -16% 12% 0% 0% 0%
Net Profit 526 168 55 25 155 -417 -417 -603 212 111 197 89
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
876 2,042 2,974 2,367 1,908 3,295 3,855 3,196 3,975 4,103 1,984 3,311 2,838
101 483 678 663 827 753 1,633 474 754 635 167 402 279
Operating Profit 775 1,559 2,296 1,703 1,081 2,542 2,222 2,722 3,221 3,468 1,817 2,909 2,559
OPM % 88% 76% 77% 72% 57% 77% 58% 85% 81% 85% 92% 88% 90%
Other Income 8 38 40 22 392 171 691 58 13 42 87 1 41
Interest 43 409 1,238 1,279 1,258 2,066 2,180 2,282 2,359 2,297 1,360 1,835 1,947
Depreciation 7 17 21 18 14 26 29 34 31 37 27 21 14
Profit before tax 733 1,171 1,077 428 201 621 704 464 844 1,176 517 1,054 639
Tax % 12% 12% 10% 21% -14% 16% 6% 12% 10% 17% 19% 21%
Net Profit 646 1,025 968 339 229 519 662 409 757 977 419 828 609
EPS in Rs 22.54 35.77 33.57 11.15 8.11 18.28 22.35 14.15 25.79 33.92 14.54 32.73
Dividend Payout % 13% 13% 17% 47% 70% 36% 48% 51% 30% 26% 63% 34%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:4.95%
5 Years:-3.00%
3 Years:-5.91%
TTM:14.62%
Compounded Profit Growth
10 Years:-2.09%
5 Years:4.58%
3 Years:3.45%
TTM:-147.50%
Return on Equity
10 Years:5.79%
5 Years:5.22%
3 Years:5.47%
Last Year:5.96%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
246 246 246 246 246 246 246 244 253 253 253 253 253
Reserves 4,915 5,779 6,560 6,713 6,782 10,798 11,266 11,390 12,330 13,028 13,448 13,915 13,036
Borrowings 1,403 9,326 13,779 11,791 18,716 18,260 20,833 22,959 21,753 21,544 18,675 20,707 19,471
213 1,145 718 1,400 893 931 1,274 1,989 1,366 1,529 1,100 1,529 3,937
Total Liabilities 6,778 16,496 21,303 20,150 26,637 30,235 33,619 36,582 35,702 36,354 33,476 36,404 36,697
84 105 99 86 79 163 151 182 214 179 308 264 241
CWIP 15 17 81 82 0 0 3 0 0 0 0 0 0
Investments 2,434 4,715 8,746 10,676 11,167 13,825 13,675 13,570 12,375 11,246 18,816 20,935 23,105
4,244 11,658 12,377 9,306 15,391 16,247 19,790 22,830 23,113 24,929 14,352 15,205 13,351
Total Assets 6,778 16,496 21,303 20,150 26,637 30,235 33,619 36,582 35,702 36,354 33,476 36,404 36,697

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-726 1,493 2,863 835 1,445 -2,440 -1,350 802 -534 709 -54 -316
338 -1,168 -2,864 -1,161 -586 2,028 2,041 398 2,795 2,807 -7,509 -904
386 -100 -157 -186 -185 -160 -340 -211 -3,298 -2,652 8,583 1,646
Net Cash Flow -2 224 -159 -512 674 -572 351 989 -1,037 864 1,020 426

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 14% 14% 13% 9% 7% 10% 9% 8% 9% 10% 6% 9%
Debtor Days 100 33 0 21 3 21 0 1 0 0 0 0
Inventory Turnover 249.96 2,490.39 4,406.43 8,930.64

Credit Ratings