Reliance Capital Ltd

₹ 12.4 1.23%

26 Feb 2024

About

Incorporated in 1986, Reliance Capital Ltd is engaged in the Finance & Investment activities^[1]

Key Points

Business Overview:^[1]^[2]
RCap is a part of Anil Ambani Group and operates as a holding company for group's various entities in the financial services sector. It is a Core Investment Company registered as
a Non-Banking Finance Company –Core Investment Company – Non -Deposit Taking Systemically Important. Company holds investments in its subsidiaries, associates and other group companies which deal in the
financial service sector

Website BSE

Market Cap ₹ 312 Cr.
Current Price ₹ 12.4
High / Low ₹ 16.0 / 8.30
Stock P/E
Book Value ₹ -455
Dividend Yield 0.00 %
ROCE -18.5 %
ROE %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 0.33% over past five years.
Promoter holding is low: 0.88%
Contingent liabilities of Rs.3,988 Cr.
Debtor days have increased from 37.4 to 48.3 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.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	4,881	5,163	4,441	5,993	4,076	4,763	3,596	5,796	5,218	4,427	5,957	6,393	6,098
	8,085	6,199	4,699	6,411	5,230	8,674	3,766	5,712	5,167	5,914	5,535	6,644	5,879
Operating Profit	-3,204	-1,036	-258	-418	-1,154	-3,911	-170	84	51	-1,487	423	-251	218
OPM %	-66%	-20%	-6%	-7%	-28%	-82%	-5%	1%	1%	-34%	7%	-4%	4%
	9	39	7	8	7	113	13	251	9	9	47	30	20
Interest	705	588	671	677	563	278	271	15	6	8	-1	8	22
Depreciation	29	28	27	28	28	30	30	31	28	27	26	27	29
Profit before tax	-3,929	-1,613	-949	-1,115	-1,738	-4,106	-458	290	27	-1,513	444	-256	187
Tax %	-1%	-2%	-6%	-4%	-1%	-1%	-7%	26%	41%	1%	2%	7%	57%
	-3,966	-1,649	-1,006	-1,156	-1,759	-4,132	-491	215	16	-1,499	434	-239	81
EPS in Rs	-159.00	-65.85	-38.80	-47.07	-70.16	-165.03	-18.27	7.38	-0.03	-59.46	15.60	-10.40	1.56
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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
	6,577	7,448	7,467	8,900	9,941	17,507	18,725	20,453	18,327	19,251	19,272	19,037	22,874
	3,802	4,283	4,128	4,982	5,368	12,901	18,851	17,346	20,364	25,550	24,878	20,522	23,971
Operating Profit	2,775	3,165	3,339	3,918	4,573	4,606	-126	3,107	-2,037	-6,299	-5,607	-1,486	-1,097
OPM %	42%	42%	45%	44%	46%	26%	-1%	15%	-11%	-33%	-29%	-8%	-5%
	52	69	77	74	57	133	158	225	4,931	58	30	281	106
Interest	2,255	2,348	2,508	2,648	2,828	3,084	4,112	4,541	3,994	2,768	2,218	334	37
Depreciation	54	56	61	68	70	116	94	123	123	105	112	116	110
Profit before tax	518	830	847	1,276	1,732	1,539	-4,174	-1,332	-1,223	-9,114	-7,908	-1,654	-1,138
Tax %	37%	15%	19%	18%	22%	19%	-9%	-9%	2%	-2%	-2%	-6%
	465	874	844	1,131	1,265	1,248	-4,556	-1,454	-1,199	-9,287	-8,055	-1,759	-1,223
EPS in Rs	18.65	33.06	30.42	39.63	43.59	42.99	-183.38	-59.87	-42.54	-372.10	-321.15	-70.38	-52.70
Dividend Payout %	43%	45%	36%	23%	23%	24%	-6%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	10%
5 Years:	0%
3 Years:	1%
TTM:	18%

Compounded Profit Growth
10 Years:	%
5 Years:	10%
3 Years:	-29%
TTM:	70%

Stock Price CAGR
10 Years:	-28%
5 Years:	-39%
3 Years:	8%
1 Year:	45%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

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	246	246	244	253	253	253	253	253	253	253	253	253	253
Reserves	11,522	11,725	12,147	13,071	13,890	15,081	760	-1,202	-2,547	-11,791	-20,073	-12,319	-11,745
	19,590	22,510	25,577	26,139	28,035	39,261	46,357	46,160	26,909	26,887	26,839	17,650	17,604
	3,987	6,107	7,560	7,977	24,934	28,006	35,809	38,762	40,162	49,528	56,671	60,756	65,180
Total Liabilities	35,345	40,588	45,528	47,440	67,112	82,601	83,179	83,973	64,777	64,876	63,689	66,341	71,293
	280	434	482	530	5,512	5,745	5,726	5,699	5,546	5,577	5,582	5,263	5,269
CWIP	1	5	1	2	3	3	34	18	19	20	15	16	4
Investments	14,760	15,087	16,157	15,881	25,279	34,652	33,300	32,672	34,594	39,755	44,014	48,524	51,520
	20,304	25,062	28,888	31,027	36,318	42,201	44,119	45,584	24,618	19,524	14,078	12,538	14,501
Total Assets	35,345	40,588	45,528	47,440	67,112	82,601	83,179	83,973	64,777	64,876	63,689	66,341	71,293

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
	-2,767	291	1,471	-1,002	-225	-3,623	-6,123	-8,352	15,886	4,057	4,020	5,249
	2,433	582	-213	2,144	2,992	-6,059	-580	5,127	3,156	-3,948	-3,350	-4,899
	-198	-419	-276	-2,011	-1,246	10,535	7,419	-377	-19,251	-23	-48	-844
Net Cash Flow	-532	454	982	-869	1,521	853	716	-3,602	-209	87	622	-493

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	24	41	46	14	27	19	17	14	22	29	35	48
Inventory Days
Days Payable
Cash Conversion Cycle	24	41	46	14	27	19	17	14	22	29	35	48
Working Capital Days	-53	-39	-120	-19	-157	-98	-548	-522	-599	-722	-862	-939
ROCE %	9%	10%	9%	10%	11%	9%	-0%	7%	8%	-31%	-48%	-19%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	1.51%	1.51%	1.51%	1.51%	1.51%	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%
	0.44%	0.43%	0.57%	0.85%	0.72%	0.72%	0.40%	0.14%	0.00%	0.00%	0.00%	0.00%
	3.07%	3.07%	3.07%	3.08%	3.07%	3.07%	3.07%	3.07%	3.05%	3.05%	2.99%	2.99%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	94.32%	94.34%	94.20%	93.91%	94.04%	94.67%	94.98%	95.25%	95.41%	95.41%	95.47%	95.47%
	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.63%	0.63%	0.63%	0.63%
No. of Shareholders	7,75,923	7,75,704	7,83,622	7,89,806	7,91,576	7,88,477	7,87,114	7,83,442	7,73,276	7,65,720	7,57,370	7,48,998

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	52.13%	52.31%	52.23%	47.48%	1.51%	1.51%	1.51%	0.89%	0.89%
	16.48%	17.60%	15.98%	24.41%	0.24%	0.42%	0.85%	0.14%	0.00%
	12.23%	12.20%	12.60%	5.74%	3.50%	3.07%	3.08%	3.07%	2.99%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%
	18.49%	17.22%	18.52%	21.70%	94.09%	94.35%	93.91%	95.25%	95.47%
	0.63%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.63%
No. of Shareholders	10,08,890	9,49,982	7,71,157	7,44,477	7,72,614	7,48,379	7,89,806	7,83,442	7,48,998

* 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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Documents

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Feb 2019
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Nov 2018
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Sep 2018
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Apr 2018
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Feb 2018
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Nov 2017
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Aug 2017

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Jul 2017

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Apr 2017

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Mar 2017

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Oct 2016

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May 2016

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