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 0.10 times its book value
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 19.52%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
The company has delivered a poor growth of -6.27% over past five years.
Company has a low return on equity of -15.27% for last 3 years.
Contingent liabilities of Rs.4334.00 Cr.
Promoters have pledged 96.50% of their holding

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
412 360 630 790 417 639 757 572 991 577 518 509
62 -22 66 725 302 693 4,606 -22 307 -16 255 151
Operating Profit 350 382 564 65 115 -54 -3,849 594 684 593 263 358
OPM % 85% 106% 90% 8% 28% -8% -508% 104% 69% 103% 51% 70%
Other Income 35 7 48 9 11 9 2 0 12 0 1 4
Interest 299 347 394 453 455 467 460 479 496 501 461 475
Depreciation 7 7 6 6 5 6 5 4 3 3 43 3
Profit before tax 79 35 212 -385 -334 -518 -4,312 111 197 89 -240 -116
Tax % 30% 29% 27% -8% -25% -16% -0% 0% 0% 0% -0% -0%
Net Profit 55 25 155 -417 -417 -603 -4,323 111 197 89 -240 -116
EPS in Rs 1.91 0.87 5.39 -14.61 -19.32 -20.85 -171.17 4.43 7.85 3.56 -9.56 -4.61
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
2,042 2,974 2,367 1,908 3,295 3,855 3,196 3,975 4,103 1,984 2,583 2,312 2,595
483 678 663 827 753 1,633 474 754 635 167 6,276 169 697
Operating Profit 1,559 2,296 1,703 1,081 2,542 2,222 2,722 3,221 3,468 1,817 -3,693 2,143 1,898
OPM % 76% 77% 72% 57% 77% 58% 85% 81% 85% 92% -143% 93% 73%
Other Income 38 40 22 392 171 691 58 13 42 87 1 4 17
Interest 409 1,238 1,279 1,258 2,066 2,180 2,282 2,359 2,297 1,360 1,835 1,937 1,933
Depreciation 17 21 18 14 26 29 34 31 37 27 22 53 52
Profit before tax 1,171 1,077 428 201 621 704 464 844 1,176 517 -5,549 157 -70
Tax % 12% 10% 21% -14% 16% 6% 12% 10% 17% 19% -4% 0%
Net Profit 1,025 968 339 229 519 662 409 757 977 419 -5,760 157 -70
EPS in Rs 35.77 33.57 11.15 8.11 18.28 22.35 14.15 25.79 33.92 14.54 0.00 6.21 -2.76
Dividend Payout % 13% 17% 47% 70% 36% 48% 51% 30% 26% 63% -5% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-2.49%
5 Years:-6.27%
3 Years:-17.40%
TTM:8.81%
Compounded Profit Growth
10 Years:-16.58%
5 Years:-16.40%
3 Years:-45.36%
TTM:98.66%
Return on Equity
10 Years:-1.28%
5 Years:-5.88%
3 Years:-15.27%
Last Year:1.75%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
246 246 246 246 246 246 244 253 253 253 253 253
Reserves 5,779 6,560 6,713 6,782 10,798 11,266 11,390 12,330 13,028 13,448 8,957 8,615
Borrowings 9,326 13,779 11,791 18,716 18,260 20,833 22,959 21,753 21,544 18,675 20,546 19,454
1,145 718 1,400 893 931 1,274 1,989 1,366 1,529 1,100 2,592 1,423
Total Liabilities 16,496 21,303 20,150 26,637 30,235 33,619 36,582 35,702 36,354 33,476 32,348 29,745
105 99 86 79 163 151 182 214 179 308 265 195
CWIP 17 81 82 0 0 3 0 0 0 0 0 0
Investments 4,715 8,746 10,676 11,167 13,825 13,675 13,570 12,375 11,246 18,816 24,571 21,185
11,658 12,377 9,306 15,391 16,247 19,790 22,830 23,113 24,929 14,352 7,512 8,365
Total Assets 16,496 21,303 20,150 26,637 30,235 33,619 36,582 35,702 36,354 33,476 32,348 29,745

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,493 2,863 835 1,445 -2,440 -1,350 802 -534 709 -54 -317 -4,519
-1,168 -2,864 -1,161 -586 2,028 2,041 398 2,795 2,807 -7,509 -904 3,113
-100 -157 -186 -185 -160 -340 -211 -3,298 -2,652 8,583 1,646 -1,534
Net Cash Flow 224 -159 -512 674 -572 351 989 -1,037 864 1,020 425 -2,940

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 14% 13% 9% 7% 10% 9% 8% 9% 10% 6% -12% 7%
Debtor Days 33 0 21 3 21 0 1 0 0 0 1 0
Inventory Turnover 2,490.39 4,406.43 8,930.64

Credit Ratings