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 0.06 times its book value
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Company has a low return on equity of -22.02% for last 3 years.
Contingent liabilities of Rs.4973.00 Cr.
Promoters have pledged 96.50% of their holding

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
4,886 3,945 5,033 4,420 4,824 5,374 4,100 4,619 5,308 5,266 5,518 6,069
3,756 2,812 3,744 3,805 3,843 4,171 7,056 3,231 3,892 3,779 6,745 3,657
Operating Profit 1,130 1,133 1,289 615 981 1,203 -2,956 1,388 1,416 1,487 -1,227 2,412
OPM % 23% 29% 26% 14% 20% 22% -72% 30% 27% 28% -22% 40%
Other Income 40 19 53 24 47 48 -8 70 50 55 71 57
Interest 748 781 830 995 991 1,069 1,036 1,080 1,075 1,224 1,140 1,188
Depreciation 24 29 39 24 23 22 25 20 20 20 63 23
Profit before tax 398 342 473 -380 14 160 -4,025 358 371 298 -2,359 1,258
Tax % 25% 25% 6% -18% 986% 76% -1% 18% 17% 17% 2% 3%
Net Profit 253 209 417 -393 -163 6 -4,178 272 280 213 -2,278 1,233
EPS in Rs 8.81 7.28 14.49 -13.77 -5.02 0.23 -160.26 11.71 11.15 8.48 -91.75 48.22
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
4,724 5,809 5,925 5,433 6,577 7,448 7,467 8,900 9,941 17,507 18,725 20,453 22,161
3,248 3,490 4,126 3,726 3,800 4,283 4,128 4,982 5,368 12,901 18,851 17,346 18,073
Operating Profit 1,476 2,318 1,799 1,707 2,777 3,165 3,339 3,918 4,573 4,606 -126 3,107 4,088
OPM % 31% 40% 30% 31% 42% 42% 45% 44% 46% 26% -1% 15% 18%
Other Income 195 211 215 167 50 69 77 74 57 133 158 225 233
Interest 415 1,268 1,358 1,470 2,255 2,348 2,508 2,648 2,828 3,084 4,112 4,541 4,627
Depreciation 41 57 68 50 54 56 61 68 70 116 94 123 126
Profit before tax 1,216 1,204 588 354 518 830 847 1,276 1,732 1,539 -4,174 -1,332 -432
Tax % 17% 15% 25% 16% 37% 15% 19% 18% 22% 19% -9% -9%
Net Profit 1,009 1,016 433 291 458 812 747 1,001 1,101 1,086 -4,634 -1,513 -552
EPS in Rs 35.18 35.27 14.48 9.39 15.18 27.31 25.23 31.52 38.22 37.70 0.00 0.00 -23.90
Dividend Payout % 13% 16% 37% 59% 43% 45% 36% 23% 23% 24% -6% -0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.41%
5 Years:22.33%
3 Years:27.19%
TTM:17.15%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:86.41%
Stock Price CAGR
10 Years:-32.68%
5 Years:-47.18%
3 Years:-68.11%
1 Year:-94.03%
Return on Equity
10 Years:-0.29%
5 Years:-6.07%
3 Years:-22.02%
Last Year:-4685.53%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 6,364 7,207 7,458 7,544 11,522 11,725 12,147 13,071 13,890 15,081 760 -1,202
Borrowings 9,326 14,107 14,519 20,374 19,590 22,510 25,577 26,139 28,035 39,261 46,357 46,160
2,565 2,634 3,929 3,956 4,046 6,182 7,646 8,000 24,958 28,072 36,056 39,023
Total Liabilities 18,501 24,194 26,152 32,120 35,404 40,663 45,614 47,463 67,136 82,667 83,426 84,234
183 204 170 214 280 434 482 530 5,512 5,745 5,726 5,699
CWIP 19 85 89 0 1 5 1 2 3 3 34 18
Investments 6,056 9,874 11,341 12,301 14,760 15,087 16,157 15,881 25,279 34,652 33,300 32,672
12,242 14,031 14,553 19,605 20,363 25,137 28,974 31,050 36,342 42,267 44,366 45,845
Total Assets 18,501 24,194 26,152 32,120 35,404 40,663 45,614 47,463 67,136 82,667 83,426 84,234

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2,065 3,225 -383 1,298 -2,767 291 1,471 -1,002 -225 -3,623 -6,123 -8,352
-2,116 -2,323 -706 -781 2,433 582 -213 2,144 2,992 -6,059 -580 5,127
401 -127 -186 135 -198 -419 -276 -2,011 -1,246 10,535 7,419 -377
Net Cash Flow 350 775 -1,276 652 -532 454 982 -869 1,521 853 716 -3,602

Ratios Consolidated Figures in Rs. Crores / View Standalone

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% 9% 10% 9% 10% 11% 10% -0% 7%
Debtor Days 34 19 12 17 24 41 46 14 27 19 17 14
Inventory Turnover 148.81 164.90 154.95 48.55 42.16 54.97 48.49 62.90 109.85 343.27 499.33 629.32

Credit Ratings