Talwalkars Healthclubs Ltd

Talwalkars Healthclubs is engaged in the business of health club by providing all kinds of services in fitness including gyms, spas, aerobics, health counseling, yoga, steam and sauna bath, Jacuzzi, physiotherapy service and to buy, sell, manufacture, trade, brand, patent, import, export or otherwise deal in juices and concoctions, health food, health drink, organic food, clothing items, fitness equipments and product and consultancy and franchise services.

Pros:
Stock is trading at 0.80 times its book value
Cons:
Company might be capitalizing the interest cost
Promoters have pledged 77.30% of their holding

Peer Comparison Sector: Miscellaneous // Industry: Miscellaneous

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
65.89 42.27 76.08 37.27 75.12 50.05 86.00 50.42
19.01 22.57 28.24 22.63 22.22 26.46 27.68 29.68
Operating Profit 46.88 19.70 47.84 14.64 52.90 23.59 58.32 20.74
OPM % 71.15% 46.61% 62.88% 39.28% 70.42% 47.13% 67.81% 41.13%
Other Income -1.19 0.66 5.66 4.67 1.38 0.44 0.70 0.63
Interest 2.35 2.85 3.82 5.58 3.16 4.66 4.84 5.90
Depreciation 9.06 7.97 6.64 7.13 7.37 7.84 8.43 8.85
Profit before tax 34.28 9.54 43.04 6.60 43.75 11.53 45.75 6.62
Tax % 42.91% 33.23% 26.23% 36.52% 39.75% 33.65% 18.99% 27.79%
Net Profit 19.59 6.36 31.75 4.20 26.37 7.64 37.06 4.79
Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2017 Mar 2018 TTM
208 231 262
87 96 106
Operating Profit 121 135 156
OPM % 58% 59% 59%
Other Income 2 12 3
Interest 11 15 19
Depreciation 29 29 32
Profit before tax 83 103 108
Tax % 37% 33%
Net Profit 52 69 76
EPS in Rs
Dividend Payout % 0% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:18.09%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:22.55%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:17.20%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Sep 2018
30 31 31
Reserves 318 420 461
Borrowings 308 371 338
67 38 125
Total Liabilities 692 860 955
293 352 381
CWIP 31 54 57
Investments 108 140 148
259 314 368
Total Assets 692 860 955

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018
41 59
-161 -125
100 83
Net Cash Flow -20 16

Ratios Standalone / View Consolidated

Mar 2017 Mar 2018
ROCE % 16%
Debtor Days 0 22
Inventory Turnover 34.80