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 0.20 times its book value
Stock is providing a good dividend yield of 20.36%.
Company has been maintaining a healthy dividend payout of 22.90%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Company has a low return on equity of 7.96% for last 3 years.
Contingent liabilities of Rs.5850.00 Cr.
Promoters have pledged 96.93% of their holding

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
2,807 3,642 4,886 3,945 5,033 4,420 4,824 5,374 5,000 4,619 5,308 5,002
1,361 2,605 3,756 2,812 3,744 3,805 3,843 4,171 3,454 3,231 3,892 3,515
Operating Profit 1,446 1,037 1,130 1,133 1,289 615 981 1,203 1,546 1,388 1,416 1,487
OPM % 52% 28% 23% 29% 26% 14% 20% 22% 31% 30% 27% 30%
Other Income 21 21 40 19 53 24 47 48 7 70 50 55
Interest 727 709 748 781 830 995 991 1,069 1,026 1,080 1,075 1,224
Depreciation 18 24 24 29 39 24 23 22 35 20 20 20
Profit before tax 722 325 398 342 473 -380 14 160 492 358 371 298
Tax % 20% 24% 25% 25% 6% -18% 986% 76% 18% 18% 17% 17%
Net Profit 415 207 253 209 417 -393 -163 6 428 272 280 213
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
2,158 4,724 5,809 5,925 5,433 6,577 7,448 7,467 8,900 9,941 17,507 19,864 19,929
1,290 3,248 3,490 4,126 3,726 3,800 4,283 4,128 4,982 5,368 12,901 14,036 14,092
Operating Profit 868 1,476 2,318 1,799 1,707 2,777 3,165 3,339 3,918 4,573 4,606 5,828 5,837
OPM % 40% 31% 40% 30% 31% 42% 42% 45% 44% 46% 26% 29% 29%
Other Income 16 195 211 215 167 50 69 77 74 57 133 34 182
Interest 43 415 1,268 1,358 1,470 2,255 2,348 2,508 2,648 2,828 3,084 4,047 4,405
Depreciation 26 41 57 68 50 54 56 61 68 70 116 143 95
Profit before tax 815 1,216 1,204 588 354 518 830 847 1,276 1,732 1,539 1,672 1,519
Tax % 14% 17% 15% 25% 16% 37% 15% 19% 18% 22% 19% 26%
Net Profit 703 1,009 1,016 433 291 458 812 747 1,001 1,101 1,086 1,309 1,193
EPS in Rs 24.56 35.18 35.27 14.48 9.39 15.18 27.31 25.23 31.52 38.22 37.70 50.59
Dividend Payout % 12% 13% 16% 37% 59% 43% 45% 36% 23% 23% 24% 21%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.45%
5 Years:21.68%
3 Years:30.68%
TTM:1.41%
Compounded Profit Growth
10 Years:2.64%
5 Years:9.98%
3 Years:11.11%
TTM:-996.99%
Return on Equity
10 Years:7.24%
5 Years:7.51%
3 Years:7.96%
Last Year:8.57%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 5,056 6,364 7,207 7,458 7,544 11,522 11,725 12,147 13,071 13,890 15,081 14,954 6,595
Borrowings 1,403 9,326 14,107 14,519 20,374 19,590 22,510 25,577 26,139 28,035 39,261 46,400 46,491
731 2,565 2,634 3,929 3,956 4,046 6,182 7,646 8,000 24,958 28,072 32,402 36,789
Total Liabilities 7,437 18,501 24,194 26,152 32,120 35,404 40,663 45,614 47,463 67,136 82,667 94,009 90,128
119 183 204 170 214 280 434 482 530 5,512 5,745 5,681 5,740
CWIP 20 19 85 89 0 1 5 1 2 3 3 32 0
Investments 2,853 6,056 9,874 11,341 12,301 14,760 15,087 16,157 15,881 25,279 34,652 38,818 33,943
4,445 12,242 14,031 14,553 19,605 20,363 25,137 28,974 31,050 36,342 42,267 49,478 50,445
Total Assets 7,437 18,501 24,194 26,152 32,120 35,404 40,663 45,614 47,463 67,136 82,667 94,009 90,128

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-402 2,065 3,225 -383 1,298 -2,767 291 1,471 -1,002 -225 -3,623 -5,065
35 -2,116 -2,323 -706 -781 2,433 582 -213 2,144 2,992 -6,059 -793
386 401 -127 -186 135 -198 -419 -276 -2,011 -1,246 10,535 6,562
Net Cash Flow 19 350 775 -1,276 652 -532 454 982 -869 1,521 853 704

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 15% 14% 13% 9% 7% 9% 10% 9% 10% 11% 10% 10%
Debtor Days 47 34 19 12 17 24 41 46 14 27 19 20
Inventory Turnover 116.92 148.81 164.90 154.95 48.55 42.16 54.97 48.49 62.90 109.85 343.27 923.91

Credit Ratings