share Bazaar Journal Issue May 2017

Vol.10 Issue 11 May 2017

Kewalchand P Jain Chaman Lal Setia Vijay Kumar Gupta
CMD CMD CMD

Kewal Kiran Clothing Ltd Chaman Lal Setia Gujarat Ambuja
Exports Ltd Exports Ltd

RNI Regd. No. - MAHMUL02501/13/1/2008-TC
Price - Rs.125/-

Ajay Singh R Mukundan Clifton Desilva
MD & CEO Director
BEST CMD
Spicejet Ltd Tata Chemicals Ltd Altina Securities

S

TO BUY IN 2017

INDOWIND ENERGY LIMITED

REGD Office: "KOTHARI BUILDINGS", 4TH FLOOR, 114, M.G.ROAD,
NUNGAMBAKKAM, CHENNAI - 600 034.

CIN : L40108TN1995PLC032311, Email : [email protected]

Consolidated Audited Financial Results For The Quarter And Year ended 31.03.2017 (Rs. in Lakhs)
Consolidated

Particulars Three Months Ended Year Ended

31-03-2017 31-12-2016 31-03-2016 31-03-2017 31-03-2016
Audited Un-Audited Audited Audited

1. Income from operation 277.19 547.94 221.81 2957.44 1922.85
(a) Net Sales/Income from Operations
- - - - -
(Net of excise duty) 277.19 547.94 221.81 2957.44 1922.85
(b) Other operating income
Total income from operation (net) 77.93 118.80 76.49 468.45 341.84
2. Expenses 145.63 146.02 61.34 582.05 388.89
(a) (1) Operating Expenses
- - - - -
(2) selling and Distribution Expenses (118.44) - 45.93 (118.44) 45.93
(b) Purchase of stock-in-trade
(c) Changes in inventories of finished goods, work-in 61.04 58.46 65.98 218.75 196.20
progress and stock-in-trade 57.51 49.85 47.53 1092.13 755.36
(d)Employee benefits expense 67.67 58.22 58.73 221.47
(e) Depreciation and amortization expense 278.13
(f) Other expenses (Any item exceeding 10% of the total
expenses relating to continuing operations to be shown 291.33 431.36 356.00 2521.07 1949.69
seperately) (14.14) 116.58 (134.19) 436.37 (26.84)
Total expenses
3. Profit / (Loss) from operations before other income, 108.26 54.92 437.84 222.87 730.13
finance costs and exceptional items (1-2) 94.12 171.50 303.65 659.24 703.29
4. Other income
5. Profit from ordinary activities before finance costs and 159.28 171.04 331.04 644.72 667.32
exceptional items (3+4) (65.16) 0.45 (27.39) 14.52 35.97
6. Finance costs
7. Profit from ordinary activities after finance costs but - - - - -
before exceptional items (5-6) (65.16) 0.45 (27.39) 14.52 35.97
8. Exceptional items
9. Profit from ordinary activities before tax (7-8) 0.90 - 3.61 2.90 3.61
10. Tax expense - Income Tax (152.39) - (58.08) (152.39) (58.08)
0.45
Deferred Tax (Asset) / Liability 86.33 - 27.08 164.01 90.44
11. Net Profit from ordinary activities after tax (9-10) - 0.45 17.43 - 17.43
12. Extraordinary items (net of tax expense) - 73.01
13. Net Profit for the period (11-12) 86.33 0.02 9.65 164.01 (3.95)
14. Share of profit of associates - 0.43 (3.95) -
15. Minority interest (0.02) 0.10
16. Net Profit after taxes, minority interest and share (0.16) 8974.14 13.62 0.32 76.86
of profit of associates (13-14-15) 86.49 163.69
17. Paid-up equity share capital (Face Value of Rs.10/- - 8974.14 8974.14
each) 8974.14 8974.14
18. Reserve excluding Revaluation Reserves as per - 8322.09
balance sheet of previous accounting year. 8350.55
19.(i) Earnings per share (before extraordinary items)
(of Rs. 10/- each) 0.09 0.00 0.02 0.18 0.09
0.09 0.00 0.02 0.18 0.09
(a) Basic
(b) Diluted 0.07 0.00 0.01 0.16 0.07
19.(ii) Earnings per share (after extraordinary items) 0.07 0.00 0.01 0.16 0.07
(of Rs. 10/- each)
(a) Basic
(b) Diluted

Place : Chennai 34 ( This is not a statutory advertisement. ) For and on behalf of Board of
Date : 23rd May, 2017 INDOWIND ENERGY LIMITED

BALA V. KUTTI
Director

(DIN : 00765036)

Vol.10 Issue 11 May 2017

Editor
J. P. Sethi
[email protected]

Corporate Advisor 05 09 10
Vishnu Ajitsaria Fca
Kewalchand P Jain Chaman Lal Setia Vijay Kumar Gupta
Hyderabad Correspondent CMD CMD CMD
Hanuman Prasad
Kewal Kiran Clothing Ltd Chaman Lal Setia Gujarat Ambuja Exports Ltd
[email protected] Exports Ltd

Managing Editor
Chaitali shah

[email protected]

Layout Designer
Kanchan Trivedi

Marketing & Advertising 02 14 23
9869047463
Ajay Singh Clifton Desilva R Mukundan
Editorial & Circulation Office CMD Director MD & CEO
A/4, Sunita,
Spicejet Ltd Altina Securities Tata Chemicals Ltd
Opp. Nakhva High School,
Thane (East) - 400 603, Best Stocks From

Maharashtra, India. Other Apparels & Accessories Industry 03

Business Development Manager
Kaivalya Joshi

Jitendra Pal Sethi on behalf of Grace & 07
Communications Printed at Print Vision. Other Agricultural Products Industry
Edited and Published from Paradise Tower,
Thane All readers are advised to consult expert Best Buys 05 09 10 23
before taking any business and investment Best Sell 06 11 12 13
decisions and Share Bazaar Journal Today
holds no responsibility for any losses that may Young Investor 21 22
arise due to business and investment decisions
made on the basis of information given within Gossip 24
the magazine. All rights reserved. No
reproduction is permitted in whole or part
without written consent from Share Bazaar
Journal Today. All disputes are subject to
exclusive jurisdiction of competent court and
forums in Mumbai only.

Print Edition - Rs. 1500/- yearly 12 Issues
Email Edition - Rs. 1000/- yearly
Www.vifia.com
For further enquiries and Magazine Subscription,
Please Contact Mobile : +91 9869047463

Www.vifia.com 01

SBJ Edit May 2017

Best Buy Spicejet Ltd

Price : Rs.115
BSE Code : 500285
Face Value : Rs.10

Ajay Singh

CMD

SpiceJet Ltd is Indias best low cost airline, delivering the lowest air fares with the highest consumer value.
The company operates 119 flights daily to 18 cities, namely Ahmedabad, Bangalore, Bagdogra, Chennai,
Coimbatore, Delhi, Guwahati, Goa, Hyderabad, Jammu, Jaipur, Kochi, Kolkata, Mumbai, Pune, Srinagar,
Varanasi and Visakhapatnam.

SpiceJet's key management personnel are all senior, seasoned professionals and have significant
international experience in both launching and managing low-cost airlines. With thousands of cumulative
man hours in the industry, the management is committed to bring to customers in India all the benefits of
the global revolution in the skies. SpiceJet aims to make travel comfortable, affordable and refreshingly
efficient experience for all.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 02 Www.vifia.com

SBJ Did You Buy ‘The Byke’? We Recommended to buy this share in Aug’08 @ Rs. 23 Cover Story
Price on 12th May’17 - Rs.206 (796% Up)

Best Stocks From Other Apparels & Accessories Industry

Here is the list of growth companies the last one year and some of these all parameters.

of 2016-17 from Other Apparels & stocks are available at yearly high

Accessories Industry. These prices or close to that SO BE Never Marry A Stock

companies have shown growth in CHOOSY. On the other side a lot of Never marry a stock and never

top line, PBDT and EPS. Promoters' well known companies have proved remain married to a stock which is

high stake has been given due to be laggards for this period. not growth oriented and is not

weightage to gauge the confidence offering value for your money. So if

of promoters in the companies. And The Best Buy Is... Kewal Kiran a stock does not perform dump it

Ranking has been done in order of Clothing Ltd. and choose another good stock

composite growth. which is showing signs of

Best Buys have been considered as aggressive growth and is available

Value The Growth the Best Buys for 2017 in this at a good price with a potential to

These companies have already been ranking. The selected companies appreciate further.

recognized for their growth value in have shown aggressive growth on

Companies with greater than revenue of Rs. 25 crores & PBDT of greater than Rs. 5 crores

Rs. in Crores

Company Name Price Dividend Revenue PBDT EPS Rank

Per Share

(Rs.) 2015-16 2014-15 2015-16 2014-15 2015-16 2014-15

SPL Industries Ltd. 24 0 148.8 59.73 12.01 4.47 3.04 0.18 1
Celebrity Fashions Ltd. 17 0 197.21 205.87 29.45 4.51 5.49 -0.6 2
Thangamayil Jewellery Ltd 250 1 1,274.75 1,422.83 22.34 -24.72 7.68 -16.24 3
Gitanjali Gems Ltd. 70 0.5 8,603.63 7,157.93 52.49 23.13 4.85 1.94 4
Safari Industries (India) Ltd. 1380 1.2 277.26 216.36 16.12 19.39 11.81 5
Rajesh Exports Ltd. 631 1 38,618.62 37,919.26 511.92 8.7 16.14 8.94 6
Cantabil Retail India Ltd. 79 0 155.27 138.68 11.29 334.72 3.11 1.77 7
Virat Industries Ltd. 124 2.5 6.13 4.23 8
Gokaldas Exports Ltd. 82 0 25.75 20.53 5.71 8.94 17.48 9.96 9
Goldiam International Ltd. 90 2 1,122.70 1,070.12 71.54 4.06 6.14 4.47 10
Mallcom (India) Ltd 213 2 20.91 64.28 12.23 8.23 11
V.I.P.Industries Ltd. 198 0.8 131.86 118.94 16.18 15.9 4.49 3.4 12
Lux Industries Ltd 820 6.2 274.86 264.91 104.16 12.91 101.65 89.55 13
Page Industries Ltd. 14721 25 1,216.45 1,047.70 82.89 82.1 208.59 175.75 14
Bhandari Hosiery Exports Ltd. 2.8 0.01 940.87 908.96 368.08 63.77 0.28 1.5 15
Ashapura Intimates Fashion Ltd. 405 0 1,783.43 1,543.02 8.51 310.95 6.36 4.45 16
Pearl Global Industries Limited 130 0.5 198.69 124.97 20.93 4.26 6.15 4.72 17
Rupa & Company Ltd. 380 2.75 28.74 17.21 9.8 8.26 18
Lovable Lingerie Ltd. 253 1.5 186.6 178.54 128.64 25.12 13.79 11.74 19
Kitex Garments Ltd. 403 0.75 768.19 623.99 35.17 115.49 23.6 20.74 20
Kewal Kiran Clothing Ltd. 1750 15.5 1,013.03 969.07 192.33 29.43 55.13 53.75 21
Arrow Textiles Ltd. 48 1 196.77 172.49 107.69 163 2.79 2.48 22
Acknit Industries Ltd. 117 1.5 545.82 511.1 12.28 101.83 12.02 11.93 23
PC Jeweller Ltd. 448 3.35 457.36 408.32 6.75 10.83 22.38 21.12 24
Bhartiya International Ltd. 572 1.2 561.28 5.85 12.96 12.61 25
Monte Carlo Fashions Ltd 440 10 49.13 47.91 27.03 562.33 27.12 27.5 26
Renaissance Jewellery Ltd. 161 2 160.77 148.72 119.37 25.18 17.54 18.06 27
Indian Terrain Fashions Ltd. 204 0 7,259.07 6,348.52 46.75 124.85 9.16 30.04 28
Asian Star Co.Ltd. 650 1.5 449.53 423.95 39.29 48.21 24.11 29
Titan Company Limited 467 2.2 621.53 582.58 71.51 25.67 7.95 27 30
KDDL Ltd. 198 1.5 1,142.90 1,060.39 967.57 76.25 6.88 9.27 31
Super Tannery Limited 4.56 0 325.01 290.41 16.61 1,143.28 0.43 7.2 32
Tara Jewels Ltd. 39 0 2,371.24 2,274.41 14.38 17.8 5.25 0.52 33
SRS Ltd. 3.34 0 11,264.53 11,903.21 42.77 16.11 0.57 11.86 34
119.01 126.84 38.09 73.73 2.79
247.38 315.65 69.89
1,362.78 1,414.16
3,732.83 3,824.84

Www.vifia.com 03 Www.vifia.com

SBJ Did You Buy ‘Sangam (India)’? We Recommended to buy this share in Jun’10 @ Rs. 38 Cover Story
Price on 12th May’17 - Rs.286 (653% Up)

Companies with less than revenue of Rs. 25 crores & PBDT of less than Rs. 5 crores

Rs. in Crores

Company Name Price Dividend Revenue PBDT EPS Rank
2015-16 2014-15 2015-16 2014-15
Per Share 2015-16 2014-15
(Rs.)

Sanblue Corporation Ltd. 4 0 3.28 0.05 2.81 0.01 4.54 0.02 1
Ceenik Exports (India) Ltd. 8.51 0 15.44 10.13 0.64 0.1 -0.47 1.1 2
Bang Overseas Ltd. 0 146.09 128.89 3.08 0.86 3
Bindal Exports Ltd 44 0 24.68 27.69 0.24 -2.99 -3.92 4
York Exports Ltd. 19 0 12.16 10.26 0.49 0.29 0.3 0.07 5
Banaras Beads Ltd. 4.95 2.5 24.74 23.57 8.39 -1.95 0.24 -7.3 6
Euro Leder Fashion Ltd. 62.8 0 55.04 50.37 4.98 2.42 7
Kanani Industries Ltd. 15.85 0 84.88 69.49 1 0.68 6.5 0.62 8
Royal India Corporation Ltd 14 0 183.75 162.28 0.52 1.61 0.02 9
Spenta International Ltd. 1.51 0 37.75 35.56 0.76 0.3 0.04 10
Haria Exports Ltd. 108 0 4.63 0.48 0.22 0.1 11
Ritesh Properties & Industries 4.34 0 0.13 0.17 -0.1 4.01 9.77 4.53 12
Karan Woo-Sin Ltd. 7.99 0 12.91 7.8 1.92 -0.23 -0.09 -0.19 13
Golkunda Diamonds & Jewell 1.3 0.6 -0.02 1.53 1.73 14
Winsome Diamonds And Jewel 23 0 0.01 0.06 4.53 -0.67 1.5 -0.08 15
Thomas Scott (India) Limited 0.36 0 97.68 93.49 0.31 3.51 -0.03 2.89 16
Timex Group India Ltd. 13.6 0 -1.73 -4.8 4.04 -1.15 17
Anugraha Jewellers Ltd. 48 0 0.13 4.69 -6.49 -3.29 -0.41 -9.99 18
White Organic Agro Ltd 14.4 0 13.58 17.93 -0.08 -8.74 -5.23 -1.41 19
Narbada Gems And Jewellery 60 0 173.34 142.36 0.24 -0.11 -1.25 -4.87 20
Cityman Ltd. 14.9 0 0.68 -3.53 0.08 21
Swarnsarita Gems Ltd 7.95 0 0.09 0.1 -0.32 0.2 0.77 22
Tatia Global Vennture Ltd. 22 0 3.25 3.52 4.05 0.54 0.1 -0.29 23
Phoenix International Ltd. 0.29 0 13.12 16.41 0.95 -0.34 0.95 1.48 24
Darshan Orna Ltd 12.3 0 2.56 4.65 -0.27 0.05 25
Unimode Overseas Ltd. 60 0 0 0 0.03 0.89 0.55 26
Anshuni Commercials Ltd. 1.37 0 325.15 243.15 -0.04 2.79 1.3 0.45 27
Triton Corp.Ltd. 3.92 0 0.06 0.03 0.05 28
Patdiam Jewellery Ltd 0.27 0 1.64 1.7 -4.92 0.58 0 29
Radhika Jeweltech Ltd 104 0 37.39 39.17 1.99 0 0.01 1.93 30
Addi Industries Ltd. 17 0 3.24 0.08 -0.08 -0.28 31
Zodiac-JRD-MKJ Ltd. 7.35 0.5 15.3 8.23 1.28 -3.62 1.44 32
Sovereign Diamonds Ltd. 33 0 0.11 0.14 0.99 2.05 -0.27 2.6 33
Orosil Smiths India Ltd. 8.55 0 0.59 0.48 2.18 0.26 34
Rahul Merchandising Ltd. 41.5 0 2.3 3.9 0.83 35
Spice Islands Apparels Ltd. 9.27 0.75 0 0 0.05 1.28 0.2 1.49 36
Womens Next Loungeries Ltd 22.5 0 45.9 53.38 -0.03 1.52 0.6 37
Shukra Jewellers Ltd. 61 0 136.19 132.82 0.82 3.17 1.21 3.2 38
Sj Corporation Ltd. 2.6 0.05 0.17 1.15 0.21 2.09 -0.33 39
Mayur Leather Products Ltd. 32 0.5 16.09 0.2 0.33 -0.02 -0.3 -0.06 40
Samtex Fashions Ltd. 21.45 0 53.24 20.23 0.01 1.21 -0.08 1.42 41
Oscar Global Ltd. 4.13 0 3.17 60.17 0.56 1.54 0.65 3.03 42
Lypsa Gems & Jewellery Ltd 6.95 0 0.01 2.16 0.38 2.13 0.24 43
Worldwide Leather Exports Ltd. 65 0 22.95 3.64 0.31 0.12 0.01 44
Decorous Investment & Trading 6.8 0 32.81 0 2.24 1.29 -0.1 0 45
Laser Diamonds Ltd. 13.77 0 28.3 0.15 2.96 0.31 1.02 46
Zodiac Clothing Co.Ltd. 0.77 1 39.27 24.11 0.02 0.55 0.15 1.27 47
Integra Garments And Textiles 233 0 32.14 51.08 -0.92 5.68 0.23 0.63 48
Alka Diamond Industries Ltd. 3.9 0 85.38 24.28 4.36 0.36 0.57 1.68 49
Deep Diamond India Ltd 12.53 0 10.07 47.52 -0.67 0.19 -0.01 0.46 50
Tribhovandas Bhimji Zaveri 18 0 207.64 28.08 -0.01 -0.51 0.03 0.42 51
Provogue (India) Ltd. 95 0 3.64 105.52 -0.04 19.9 -1.58 -1.28 52
Sarup Industries Ltd. 4.76 0 8.19 16.56 -11.51 -0.22 -1.85 4.89 53
Frontline Business Solutions 66 0 436.84 -190.28 -0.6 -0.48 54
Atlas Jewellery India Limited 7.8 0 0 -0.78 0 -0.02 0.01 55
Mishka Exim Ltd 74 0 302.67 6.16 -0.28 0.24 -0.22 0.46 56
Sunraj Diamond Exports Ltd. 33 0 10.35 -3.93 47.87 -3.47 57
Punit Commercials Ltd. 3.85 0 0 -0.27 -66.68 -17.11 3.9 58
Goenka Diamond & Jewels Ltd. 17.9 0 0 0.28 -0.92 4.36 -7.79 -6.52 59
Nutricircle Ltd 0.66 0 1.17 325.01 -0.25 0.47 -0.28 6.25 60
Professional Diamonds Ltd. 71.35 0 1,654.78 -31.01 5.54 -0.63 0.32 61
Meyer Apparel Ltd 1.65 0 423.44 0 -0.89 0.08 -0.25 0.32 62
Sheetal Diamonds Ltd. 2.46 0 49.3 0 -3.99 0.09 -1.6 0.02 63
Neogem India Ltd. 3.13 0 9.06 3.13 -29.65 0.02 -10.73 -0.09 64
13.68 1,934.20 -2.2 2.23 -1.02 0.46
5 14.69 545.46 -4.79 -0.27 -32.24 0.03
4.27 69.82 -0.12 -19.96
0.09 17.8 0.21 -4.31 -0.5
79.33 200.58 0.04 -4.52 -0.08
0.23 12.45 -5.93 -0.03
0 22.2 0.2 -0.01
29 4.03 0.01
9.96 102.24
23.98 0
0
24.2
3.84
56.66

Note : All figures have been taken from www.bseindia.com

Www.vifia.com 04 Www.vifia.com

SBJ Did You Buy ‘Zensar Tech’? We Recommended to buy this share in Jul’10 @ Rs. 155 Best Buy
Price on 12th May’17 - Rs.896 (478% Up)

Best Buy

Kewal Kiran Clothing Ltd

Price : Rs.1736

BSE Code : 532732

Face Value : Rs.10

Kewalchand P Jain

CMD

Killer, Easies, LawmanPg3, Integriti are iconic apparel brands in India. The proud owners of these
brands is Kewal Kiran Clothing Limited (KKCL). Currently, the brands produce an exciting range of
western wear for men and women largely manufactured inhouse.

Incorporated in 1981, and headquarted in Mumbai, Kewal Kiran Clothing Limited today is amongst the
few large branded apparel manufacturers in India. The company has consumers in Asia, Middle East
and CIS. The company designs, manufactures and markets branded jeans, and a wide range of apparel
products for men and women. The manufacturing units are undoubtedly the real growth enablers for
the company. The production facilities are ISO 9000 certified

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 05 Www.vifia.com

SBJ Did You Buy ‘Vadilal Inds’? We Recommended to buy this share in Jun’10 @ Rs. 130 Best Sell
Price on 12th May’17 - Rs.936 (620% Up)

Best Sell @ Rs.232

Lovable Lingerie Ltd

BSE Code : 533343
Face Value : Rs.10

One Year Price Movement

Lovable Lingerie Ltd is one of Indias leading womens innerwear manufacturers. The companys products include
brassieres, panties, slips/ camisoles, homewear, shapewear, foundation garments and sleepwear products. Lovable
and Daisy Dee are their flagship brands. Their brand Lovable is amongst the top three most preferred brand in
womens innerwear in India. The company is headquartered in Mumbai, Maharashtra and has three manufacturing
facilities of which two facilities are situated at Kanakapura road in Bengaluru and one is situated in Roorkee,
Uttarakhand.

In April 19, 2010, the company was converted into a public limited company and the name was changed to Lovable
Lingerie Ltd. In July 15, 2010, the company entered into a joint venture agreement with Lifestyle Galleries of London
Ltd (Lifestyle Galleries) to establish a joint venture company in India by the name of Lovable Lifestyles Pvt Ltd
(Lovable Lifestyle). Lovable Lifestyle intends to launch product lines in womens innerwear and in related lifestyle
categories.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 06 Www.vifia.com

SBJ Did You Buy ‘Bata India’? We Recommended to buy this share in May’09 @ Rs. 173 Cover Story
Price on 12th May’17 - Rs.568 (228% Up)

Best Stocks From Other Agricultural Products Industry

Here is the list of growth companies of last one year and some of these stocks selected companies have shown

2016-17 from Other Agricultural are available at yearly high prices or aggressive growth on all parameters.

Products Industry. These companies close to that SO BE CHOOSY. On the

have shown growth in top line, PBDT other side a lot of well known Never Marry A Stock

and EPS. Promoters' high stake has companies have proved to be laggards Never marry a stock and never remain

been given due weightage to gauge the for this period. married to a stock which is not growth

confidence of promoters in the oriented and is not offering value for

companies. Ranking has been done in And The Best Buys Are... Chaman Lal your money. So if a stock does not

order of composite growth. Setia Exports Ltd. & Gujarat Ambuja perform dump it and choose another

Exports Ltd. good stock which is showing signs of

Value The Growth aggressive growth and is available at a

These companies have already been Best Buys have been considered as the good price with a potential to

recognized for their growth value in the Best Buys for 2017 in this ranking. The appreciate further.

Companies with greater than revenue of Rs. 25 crores & PBDT of greater than Rs. 5 crores

Rs. in Crores

Company Name Price Dividend Revenue PBDT EPS Rank

Per Share

(Rs.) 2015-16 2014-15 2015-16 2014-15 2015-16 2014-15

Modi Naturals Limited 130 0 269.9 233.95 5.37 1.32 1.77 0.14 1

Kohinoor Foods Ltd. 77 0 1,130.90 1,158.97 42.24 -79.44 1.08 -20.59 2

Lakshmi Overseas Industries 52 0 915.72 616.63 18.96 -309.93 -13.57 -50.27 3

Gujarat Ambuja Exports Ltd. 132 0 2,736.48 2,531.30 187.77 158.73 7.49 6.08 4

Advanced Enzyme Technol 2051 0 139.14 125.88 33.41 30.76 9.76 9.03 5

Chaman Lal Setia Exports 103 0 485.56 508.25 60 32.53 7.95 21.59 6

LT Foods Ltd. 63.9 1.5 1,844.11 1,855.27 73.08 71.2 11.47 11.61 7

Freshtrop Fruits Ltd. 109 1 119.02 120.5 16.49 16.2 6.63 6.25 8

Sukhjit Starch & Chemicals 330 0 568.43 534.43 47.79 47.77 31.23 31.44 9

Flex Foods Ltd. 114 2.5 82.87 72.45 17.1 18.3 6.6 7.57 10

Olympic Oil Industries Ltd. 74.9 0 1,982.07 1,877.88 13.33 14.24 30.1 32.38 11

AVT Natural Products Ltd. 48 0.4 267.31 256.59 40.85 49.87 1.53 1.98 12

Agro Tech Foods Ltd. 515 2 782.08 759.74 51.6 60.06 9.59 15.3 13

Anik Industries Ltd. 33 0 1,536.85 1,472.40 11.83 18.21 2.01 3.71 14

Jk Agri Genetics Ltd 557 3 188.77 209.83 12.07 20.44 22.25 33.9 15

Nath Bio-Genes (India) Ltd 214 0 162.11 185.33 19 30.64 8.85 15.85 16

Kaveri Seed Company Ltd. 553 0 848.96 1,115.53 207.76 321.72 25.71 43.81 17

GRM Overseas Ltd. 100 0 355.72 568.37 5.06 10 5.56 12.38 18

Www.vifia.com 07 Www.vifia.com

SBJ Did You Buy ‘Jindal Hotels’? We Recommended to buy this share in Mar’09 @ Rs. 15 Cover Story
Price on 12th May’17 - Rs.46 (207% Up)

Companies with less than revenue of Rs. 25 crores & PBDT of less than Rs. 5 crores

Rs. in Crores

Company Name Price Dividend Revenue PBDT EPS Rank
2015-16 2014-15 2015-16 2014-15 2015-16 2014-15
Per Share
(Rs.)

Agri- Tech (India) Ltd 55 0 0.09 0.08 18.93 -0.26 31.56 -0.63 1
Ozone World Ltd 65
Hpc Biosciences Ltd. 47.6 0 1.22 0.16 0.16 0.15 0.3 0.26 2
Prima Agro Ltd. 12.03
Eco Friendly Food Process 24 0 2.01 3.26 1.89 2.17 0.29 0.04 3
IB Infotech Enterprises Ltd. 21
Khandelwal Extraction Ltd. 8.7 0 11.47 11.14 1.88 1.28 2.04 0.67 4
Saptarishi Agro Industries 3.14
Himalya International Ltd. 33.75 0 3.81 3.3 3.24 2.56 0.34 0.12 5
Raghuvansh Agrofarms Ltd 50
Vaksons Automobiles Ltd 25 0 0 0 0.01 -0.1 0.03 -1.09 6
R J Bio-Tech Ltd 29
Mangalam Seeds Ltd 151 0 10.25 11.64 -0.07 -0.46 -0.9 -4 7
Tarai Foods Ltd. 5.88
Madhur Industries Ltd. 12.15 0 0.12 0.06 -0.08 -0.11 -0.14 -0.15 8
Tirupati Industries (India) 22.1
Neha International Ltd. 10.58 0 113.6 100.92 -8.35 -27.04 -3.61 -7.34 9
Esteem Bio Organic Food 32
Indrayani Biotech Ltd. 7.99 0 2.04 1.81 0.73 0.45 0.65 0.43 10
Unique Organics Ltd. 14.26
Mefcom Agro Industries 6.58 0 19.78 16.21 0.48 -1.44 0.2 0.43 11
Omega Ag-Seeds (Punjab) 11.2
Naturite Agro Products Ltd 93 0 35.96 31.67 2.61 2.05 2.4 1.55 12
Ashoka Refineries Ltd. 11.97
Genera Agri Corp Ltd. 5.35 1 23.83 17.02 2.63 1.5 5.62 12.91 13
R.T.Exports Ltd. 10.64
Nagarjuna Agri Tech Ltd. 4.99 0 1.97 2.11 0.05 -0.22 -0.07 7.06 14
Techindia Nirman Limited 4.96
Usher Agro Ltd. 9.03 0 11.03 10.73 0.18 0.2 0.03 0.03 15
Karuturi Global Ltd. 1.34
Vikas Granaries Ltd. 8.62 0 58.82 50.88 2.8 2.47 2.23 4.13 16
Pochiraju Industries Ltd. 7.7
0 252.33 300.08 3.79 3.77 0.8 0.88 17

0 3.91 3.4 3.39 2.99 0.05 0.49 18

0 0 0 -0.13 -0.09 -0.35 -0.27 19

0 124.41 195.46 1.51 2.2 1.58 2.36 20

0 0.36 0.21 0.01 0.11 0.01 0.39 21

0 0.49 4.25 0.06 0.08 0.04 0.06 22

0 1.79 3.95 0.22 0.6 0.33 1.03 23

0 0 0.02 -0.06 -0.04 -0.16 -0.11 24

0 21.86 32.31 0.4 1.54 0.02 1.18 25

0 1.24 8.17 0.13 0.53 0.02 1.48 26

0 0.05 0.05 -0.06 -0.02 -0.35 -0.17 27

0 0 0 -0.18 -0.03 -0.14 -0.04 28

0 1,579.02 1,276.75 -259.72 85.53 -78.6 11 29

0 14.25 15.14 -11.39 2.19 -0.13 0.02 30

0 116.23 292.71 3.89 14.64 -4.97 0.22 31

0 9.67 139.13 -46.73 2.87 -27.38 0.61 32

Note : All figures have been taken from www.bseindia.com

Www.vifia.com 08 Www.vifia.com

SBJ Did You Buy ‘Kewal Kiran’? We Recommended to buy this share in Jun’10 @ Rs. 320 Best Buy
Price on 12th May’17 - Rs.1750 (447% Up)

Best Buy

Chaman Lal Setia Exports Ltd

Price : Rs.98

BSE Code : 530307

Face Value : Rs.2

Chaman Lal Setia

CMD

Promoted by Chaman Lal Setia, Vijay Setia and Rajeev Setia, Chaman Lal Setia Exports was incorporated as a
partnership firm in 1983, under the name Chaman Lal & Sons. In Sep.94, it went public under its present name.

At present, the company operates rice milling units in Punjab at Amritsar and Karnal. The Karnal sheller also has
a Sortex machine which incorporates state-of-the-art technology for cleaning rice and removing impurities.

The company has a wide marketing network spread throughout the country and sells a whole range of basmati
rice, including the Super A variety, under its world famous brand, Maharani. Apart from this, it also supplies rice
in bulk to recognised exporters, which constitutes indirect exports.

Chaman Lal came out with a public issue in Mar.95 to finance the expansion and modernisation of the existing
units from 2 tpm to 4 tpm.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 09 Www.vifia.com

SBJ Did You Buy ‘Apcotex Inds’? We Recommended to buy this share in May’09 @ Rs. 71 Best Buy
Price on 12th May’17 - Rs.368 (418% Up)

Best Buy

Gujarat Ambuja Exports Ltd

Price : Rs.126
BSE Code : 524226
Face Value : Rs.2

Vijay Kumar Gupta
CMD

Gujarat Ambuja Exports (GAEL) incorporated in August 1991 and was promoted by Vijaykumar Gupta is
engaged in the manufacture of refined castor oil, hydrated castor oil and hydrogenated castor oil. These
products have extensive usage in industries manufacturing detergents, lubricants and chemicals. The
promoters also have interests in Ambuja Agro, Gujarat Ambuja Soya Products, Ambuja Flour Mills, etc.

It came out with a public issue aggregating Rs.3.78 crores in April 1992. The issue was to part-finance a project
for crushing castor seed, setting up a refinery and to meet working capital requirements.

The company has formed a strong technical department to continuously monitor energy consumption and plan
and execute energy conservation schemes. Effective steps are being taken for overall technological upgradation
of the plant and machinery.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 10 Www.vifia.com

SBJ Did You Buy ‘Berger Paints’? We Recommended to buy this share in Jun’10 @ Rs. 70 Best Sell
Price on 12th May’17 - Rs.257 (267% Up)

Best Sell @ Rs.30

Esteem Bio Organic Food Processing Ltd

BSE Code : 534927
Face Value : Rs.1

One Year Price Movement

The Company was originally incorporated with the intention to venture in to real estate construction
operations. However later on in the month of September, 2008 the company has diversified itself in to
agriculture and food processing sector with a thrust on organic farming. At present, the company is
predominantly engaged in the agricultural operations such as cultivation, processing and distribution
of agricultural commodities.

The company is engaged in to agriculture operations, wherein the company cultivates wheat, paddy,
sugar cane, fruits, vegetables and flowers. We are also engaged in the operations of wood plantation.
The company has an integrated facility cultivation, processing and distribution of agriculture
commodities.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 11 Www.vifia.com

SBJ Did You Buy ‘Grindwell Nor.’? We Recommended to buy this share in Jul’10 @ Rs. 204 Best Sell
Price on 12th May’17 - Rs.384 (88% Up)

Best Sell @ Rs.93

Naturite Agro Products Ltd

BSE Code : 538926
Face Value : Rs.10

One Year Price Movement

Established in the year 1990, “Naturite Agro Products Ltd.” is one of the prominent manufacturers,
suppliers and exporters of a wide range of Spice Oils & Oleoresins. The offered product range has been
availed to the customers as per their requirement at the most comprehensive price range.

In order to cater to the needs of the customers they have a wide variety to offer. The offered range has
made using best quality raw material which has been procured from the most reliable vendors present
in the market. In their offered range they are availing products such as Capsicum Oleoresin, Pure
Capsicum, Paprika Oleoresin, Turmeric Oleoresin & Curcumin Powder. They export products in Indian
Subcontinent, US, Japan & Korea.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 12 Www.vifia.com

SBJ Did You Buy ‘Mangalore Ch.’? We Recommended to buy this share in May’10 @ Rs. 29 Best Sell
Price on 12th May’17 - Rs.76 (162% Up)

Best Sell @ Rs.66

Ozone World Ltd

BSE Code : 539291
Face Value : Rs.10

One Year Price Movement

The Company was incorporated to carry out the business activities related to hire purchase, leasing and finance.
The Company came out with the public issue of 25,00,000 Equity Shares of Rs. 10/- each at par in the year 1996.
The Company got listing of its equity shares on Ahmedabad Stock Exchange Limited and Jaipur Stock Exchange
Limited in 1996. The Company obtained its Certificate of Registration No. 01.00227 dated 27th April, 1998 from
RBI to carry on the business of Non-Banking Financial Institution under Section 45-IA of the Reserve Bank of
India Act, 1934.

In September, 2008, the company was taken over by the present promoters Mr. Jayeshkumar Patel &others in
compliance of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover)
Regulations, 1997. After takeover of the Company, the main objects of the Company were altered to carry out the
business activities related to real estate and trading of goods.

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 13 Www.vifia.com

SBJ Did You Buy ‘Sakuma Exp.’? We Recommended to buy this share in March’09 @ Rs. 6 Sectors Update
Price on 12th May’17 - Rs.66 (1000% Up)

COMPANY NEWS REVIEW

TATA POWER adding these included cross-holdings
at the group level and investments

Tata Power would consider selling non- related to the power chain but not to
core assets to support the Mundra plant power generation.

following a Supreme Court ruling
against compensatory power tariffs, it In addition, Tata Power will change its

told investors. coal-sourcing arrangements to make
the Mundra plant viable.

The non-core assets included cross-
holdings at the Tata group level, the Tata Power may sell cross-holdings
company added. Tata Power holds after Mundra tariff order. “With the

stakes in seven listed companies of the Supreme Court order, we will look at
g r o u p , i n c l u d i n g N e l c o , Ta t a other countries, including the US and

Communications and Voltas. It also has Africa, to source coal. We will also look

a s t a k e i n t h e u n l i s t e d Ta t a at countries that are willing to sell on a Clifton Desilva

Teleservices. cost-plus basis under a long-term

arrangement,” Sardana said. He did not Director

Analysts said Tata Power's valuation rule out sourcing domestic coal. Altina Securities Pvt. Ltd
per share reflected Rs 12-15 invested in

the telecom business and Rs 6-7 Tata Power informed analysts most of
invested in the other businesses. the interest cost of Coastal Gujarat This is Glenmark's fourth product
Power (CGPL), the special purpose approval in the US since January till
vehicle for the Mundra plant, was met date. It is significant as the company
At current valuations, Tata Power's by the subsidiary. “Debt repayment has looks to sustain revenue growth in the
stakes in the listed group companies to be supported by the parent, which is market.
are likely to yield Rs 1,283 crore. The

Tata Teleservices stake sale could annually in the range of Rs 400-1,000 Along with 8-10 per cent pricing
deliver more. The Supreme Court had crore depending on coal prices,” the pressure, the pharmaceutical giant is
on April 11 disallowed compensatory management said. also expected to face competition to its
power tariffs for changes in top selling anti-cholesterol drug Zetia
international regulations but allowed CGPL has debts of Rs 11,000 crore at an later this year.
them for changes in domestic rules. average cost of 10.25 per cent and Tata

Power has another Rs 4,000 crore at a The company is aiming to launch new
products in the US and is focusing on
“We are consulting legal experts what it standalone level. “We have no intention complex drugs and new dosage forms
(Section 79) means in our case. We are for further debt funding, but we will to sustain its revenue growth.
also consulting on whether we need to look at debt restructuring,” Sardana
approach the Central Electricity told analysts. On earlier plans to add

Regulatory Commission or the more units at Mundra, Sardana said, In FY17, the drug maker launched 15
Supreme Court for a clarification,” Anil “That is under review due to lack of products in the US market and is
Sardana, managing director, Tata demand, and not because of the order.” aiming to launch 20 products annually
Power, told analysts over a conference over the next few years.
call. “In a situation where there are no GLENMARK

guidelines framed at all or where the Drug-maker Glenmark received a Glenmark earned about 40 per cent of
guidelines do not deal with a given tentative approval from the US Food revenue from the US market in the first
situation, the Commission's (CERC's) and Drugs Administration (USFDA) to nine months of FY17. Sales have
general regulatory powers under sell the generic version of its drug ramped up following the launch of
Section 79(1)(b) can be used,” the Pradaxa, used to prevent blood clots. Zetia in December.
Supreme Court order had added.

Sardana said Tata Power would look at Pradaxa had annual sales of over $900 The company's fourth quarter
all options to monetise non-core assets, revenue is estimated to grow over 30
million last year.

Www.vifia.com 14 Www.vifia.com

SBJ Did You Buy ‘Indag Rubber ’? We Recommended to buy this share in March’09 @ Rs. 22 Sectors Update
Price on 12th May’17 - Rs.211 (859% Up)

per cent on a year-on-year basis. Industry officials believe the marine the business objectives, strategic

coatings industry, though estimated at priorities of the organization, and

According to Nomura Research, Zetia's only Rs 250 crore, is growing at 25 per requirements of our clients”.

sales in the fourth quarter is likely to be cent annually and would do so for

at $125 million. another five years. The overall “This systematic and comprehensive

decorative paints segment in the performance evaluation process

Nirmal Bang Institutional Equities, in organised sector is estimated at Rs triggers a series of actions, such as

its recent investor note, said Glenmark 26,000 crore and poised for eight to 10 mentoring, retraining and up-skilling.

would file for 18-20 products annually. per cent annual growth in the near The performance appraisal may also

term. “Compared to the decorative lead to the separation of some

The brokerage expects the drug maker segment, the marine coatings industry employees from the company and

to receive approvals for 13-15 is expected to grow three-fold in the these numbers vary from year to year,”

products, including 2-3 dermatology near term,” an analyst said. it said.

products in Fy18.

The marine paints JV which is under At the end of December, Wipro had 1,

The company is developing specialty in c o n s i d e r a t i o n w i l l n o t e n t a i l 79,129 employees.

dermatology and respiratory products substantial investment from Berger,

as a part of its growth strategy, besides with the existing capacity at its plants Wipro's cross-town rival Infosys said

working on inhalers and new dosage and the production technology coming it had reduced its hiring by as much as

forms to achieve a higher growth in the from CMP. Also, Berger has decided to 60 per cent as it deployed more

US. bring in the Bolix brand of insulation automation to do repetitive tasks

paints, which it feels has the potential being done by engineers. Infosys

BERGER PAINTS to become one of the key growth added 6,320 people in 2016-17, as

drivers for it. Poland-based Bolix is a against 17,857 in the previous year.

Berger Paints has entered into a 100 per cent subsidiary of Berger

partnership with Japan-based Chugoku Paints India. With this new revenue In January, Wipro chief executive

Marine Paints (CMP). This also marks stream, Berger is also considering a JV officer Abidali Neemuchwala had said

its entry into the marine paints with state-owned real estate company the company had redeployed 4,500

segment. NBCC India. people, released due to automation in

the first nine months of 2016-17, on

Berger will initially be a production WIPRO other projects.

partner for CMP India but the

partnership also opens up the Wipro, India's third largest software DILIP BUILDCON

possibility of a future joint venture (JV). exporter, has sacked around 500

employees as part of its appraisal Infrastructure firm Dilip Buildcon, in a

Abhijit Roy, managing director of process, The IT major's move to weed bid to get National Highway (NH)

Berger, said CMP would procure paint out “non-performers” has come at a contracts, is planning to monetise its

from the former's VVN plant in Gujarat, time when the technology services old projects for executing new hybrid

which has an installed capacity of 4,000 industry is struggling to battle the twin annuity projects being offered by the

tonnes a month. “However, we might c h a l l e n g e s o f a u to m a t i o n a n d central government.

opt for a JV to enter this segment protectionism in its main markets.

directly,” he said. According to sources, the company

In the existing tight job market, Indian has firmed up plans to sell its

Berger's factories at Jejuri in IT firms have already reduced campus completed projects, mainly in

Maharashtra and in Puducherry would hiring and moved workers whose roles H i m a c h a l P r a d e s h , G u j a r a t ,

also be used for marine paints products w e r e m a r g i n a l i z e d o w i n g t o Maharashtra and Madhya Pradesh.

in the near future. The paints would all automation in different projects.

be sold under the CMP brand in India The company is executing three NH

but Berger expects to gain hands-on While Wipro did not specify the exact contracts worth Rs 3,333.13 crore and

experience in the marine coatings number of affected employees, the covering a length of 261.72 km in Uttar

business, helping to decide a final plan company said it “undertakes a rigorous Pradesh, Maharashtra and West

on foraying into this segment. performance appraisal process on a Bengal, according to the latest data of

regular basis to align its workforce with the National Highways Authority of

Www.vifia.com 15 Www.vifia.com

SBJ Did You Buy ‘Camlin Fine ’? We Recommended to buy this share in April’09 @ Rs. 10 Sectors Update
Price on 12th May’17 - Rs.90 (800% Up)

India (NHAI). QUARTERLY RESULTS loans with the percentage of gross

non-performing assets (NPA)

Last week, Dilip Buildcon announced increasing to 2.25%, up 14 basis

t h a t i t h a d b a g g e d t w o E P C KOTAK MAHINDRA BANK points (bps) sequentially and 19 bps

(engineering, procurement and year-on-year. Net NPA also increased

construction) projects worth about Rs Private sector lender Kotak Mahindra to 1.09% in March 2017 from 0.93% a
700 crore in Maharashtra from the Bank's consolidated net profit rose by year ago. Most of the slippages in the
ministry of road transport and 33% to Rs 1,404 crore for the January- fourth quarter were from the loan
highways. But the company is focused March 2017 quarter from Rs 1,055 book of ING Vysya Bank, which was
on executing hybrid annuity NH crore a year ago on the back of higher merged with Kotak Mahindra Bank.
projects during 2017-18.
net interest income, fees and

commissions. credit cost, which is the amount set

According to a source, the company will aside for stressed loans and standard

participate in bids to win hybrid Net interest income, the difference assets, declined to 61 bps at the end of
annuity projects. They will account for between interest earned and interest March 2017 from 82 bps in last year.
40 per cent of the mix of the company's expended, increased by 17% to Rs The trend of declining credit costs will
highway projects in 2017-18. The 2,890 crore. Other income that includes continue in 2017-18, the bank said.
remaining contracts would be executed fees, commission etc also increased to
on EPC mode.
Rs 4,299 crore as compared to Rs 2,593 At the end of the March quarter,

crore in the same quarter last year. restructured loans considered

Dilip Buildcon, which has a market standard were down to 0.07% of net

capitalization of Rs 5,070.7 crore on the Net interest margin, a key indicator of advances to Rs 102 crore.
BSE, might also opt for a follow-on the bank's profitability expanded to
public offer during the year. When and 4.6% from 4.4% in the corresponding On March 29, 2017, Kotak Mahindra
how much has not been decided. quarter last year.
Bank launched 811, the zero-charge

Queries to the company were not digital bank account, to promote a

answered. Consolidated net profit for the financial digital banking system via mobile

year ended March 2017 (FY17), went phones.
Net profit jumped 151.7 per cent to Rs up by 43% to Rs 4,940 crore from Rs
108.6 crore on a 41.9 per cent rise in 3,459 crore in FY16.
Standalone other income grew 47% to

net sales to Rs 1,388.4 crore in the Rs 1,003 crore in the March quarter. In

December quarter of 2016 over the Standalone net profit rose by 40% in other income, group, Of this, Rs 750
same period a year earlier.
the March quarter to Rs 976 crore. For c r o r e c a m e f r o m f e e s a n d

the full year 2016-17, standalone net commissions and the balance from
With the government focusing on profit grew 63% to Rs 3,411.5 crore. areas like treasury operations
tendering more highway contracts on

the hybrid annuity mode, companies The bank saw a 41% increase in its The bank remains well-capitalized
like Dilip Buildcon, MEP Infra and savings account growth and a 19% rise with a consolidated capital adequacy
Sadbhav Engineering stand to benefit in its current account growth. Current ratio of 17.2% with tier-1 ratio at
due to cleaner balance sheets.
and savings deposits as a percentage of 16.5% at the end of March 2017.

total deposits grew from 38% in March
The central government was unable to 2016 to 44% in March 2017.
On its capital raising plan and

achieve its road contract award target reducing the promoters' stake, Kotak

of 25,000 km last year. Consolidated advances rose 15% year- said the bank would work on it after its

on-year to Rs 1, 67,125 crore. Credit shareholders' meeting on May 9, 2017.
The number of EPC awards might go up grew by 20% in fourth quarter of FY17. The bank board had cleared a proposal
during the current year as the finance With signs of pick-up in credit demand, to raise equity capital by issuing 62
ministry has increased the budgetary the bank is confident of growing the million shares, which will need
outlay for National Highways to Rs FY18 loan book at levels seen in the s h a r e h o l d e r s ' n o d . B a s e d o n
64,000 crore in 2017-18 from Rs fourth quarter.”
Thursday's closing price of Rs 914.55

57,676 crore in 2016-17. per share, it could raise about Rs 5,600

The bank saw a slight uptick in bad crore.

Www.vifia.com 16 Www.vifia.com

SBJ Did You Buy ‘Vakrangee’? We Recommended to buy this share in April’09 @ Rs. 28 Sectors Update
Price on 12th May’17 - Rs.348 (1143% Up)

BANDHAN BANK been 23, 60 and 47 per cent, cent rise in net profit at Rs 529.19

respectively. The FY17 profit surged 37 crore for the fourth quarter ended

Kolkata-based private sector lender per cent to Rs 7,337 crore, with volume March 2017, against Rs 448 crore in

Bandhan Bank reported 127.46 per growth and a better product mix. Q4 of 2015-16. Its net interest income

cent rise in its fourth quarter profit, as it (NII) grew by 27 per cent to Rs 1,040 cr

continued to see healthy growth in its Other income of Rs 2,279 crore for the in Q4. Net interest margins for Q4

microfinance portfolio. year (up 56 per cent from FY16) FY17 stood at 2.97 per cent against

helped. The cash reserve is Rs 23,000 2.71 per cent for Q4 FY16.

Profit for the quarter ended March was crore.

at Rs 323 crore, compared with Rs 142 Net profit from 2016-17 rose 16 per

crore in the year-ago period. This was Sales revenue for the fourth quarter cent to Rs 1,931 crore from Rs 1,660

also the first full year of the bank in rose a little over 20 per cent to Rs crore in 2015-16. Net interest income

which it posted a profit of Rs 1,111 18,005 crore. Maruti sold 414,439 rose 24 per cent to Rs 3,645 crore in

crore. vehicles in the quarter, growing 15 per FY17. Net interest margin for the full

cent over the same period a year before. year was 2.70 per cent, against 2.52

Net interest income of the bank for the Revenue for the year grew 18 per cent per cent for FY 2016.

full year was at Rs 2,403.50 crore. to Rs 66,909 crore. Annual volume

Advances grew 51 per cent for the full growth was 9.8 per cent, to 1.56 million T h e b o a r d o f d i r e c t o r s h ave

year. Nearly 91 per cent of the portfolio units. The company paid royalty to recommended dividend of 310 per

consisted of microfinance loans. Going Japanese parent Suzuki at 5.8 per cent cent per cent for 2016-17.

forward, the bank will increase its loan of the revenue, against 5.7 per cent in

offering to other retail products such as FY16. Vinay Sah, Managing Director & CEO,

loans for affordable housing, SME etc, said the company recorded healthy

but will also continue to focus on R C Bhargava, chairman, said FY17 was growth in loan disbursements. Total

microfinance to create capabilities in a 'challenging' year in some sense. disbursements grew 15 per cent to Rs

unbanked people, Chief Executive "There has been a hit on account of 1 5 , 1 9 2 c r. I n d i v i d u a l l o a n

Officer and Managing Director Chandra adverse currency movement, which disbursements were up 11 per cent at

Shekhar Ghosh said also resulted in commodity prices Rs 13,960 cr. The loans to developers

moving up beyond our expectations. almost doubled to Rs 1,232 crore in

The net interest margin of the bank was However, the annual Ebitda (earnings January-March 2016 from Rs 640

at 10 per cent, largely because the high before interest, taxes, depreciation and crore in year-ago period.

rate of interest on microfinance loans amortisation) has been maintained at

and also because of the huge Interbank 15.5 per cent (15.7 per cent in FY16)." AXIS BANK

Participation Certificate (IBPC), or

priority sector loans the bank lent to The Ebitda margin for Q4 came down Private sector lender Axis Bank's net

other banks during the year. significantly to 14.2 per cent, from 15.6 profit declined 43.1% to Rs 1,225

per cent in the comparable period of crore for the fourth quarter ended

MARUTI SUZUKI FY16. Ajay Seth, chief financial officer, March 2017 on flat net interest income

said if commodity prices and forex and rise in provisions for stressed

High double-digit profit growth during rates do not fluctuate, it will be possible loans.

the first three quarters of 2016-17 at for the company to hold the margin at

Maruti Suzuki, the country's largest car the same level in Fy18. It had posted net profit of Rs 2,154

maker, slowed in the fourth (March) crore in Janury- March 2016

quarter on pressure from firmer T h e b o a r d o f d i r e c t o r s h a s (Q4Fy16).

commodity prices and adverse foreign recommended a dividend of Rs 75 a

exchange movement. share of Rs 5 face value for FY17, the The net profit for 2016-17 (FY17)

total outgo being Rs 2,726 crore, dipped by 55.2% to Rs 3,679 crore

That apart, the company has posted its inclusive of taxes. It paid a dividend of from Rs 8,223 crore for 2015-16

best annual profit for the year ended Rs 35 in Fy16. (FY16).

March 2017. There was a 16 per cent

jump in net profit for the fourth quarter, LIC HOUSING FINANCE Axis Bank stock closed marginally up

to Rs 1,709 crore. The growth in the by 0.42% at Rs 517 per share on

first, second and third quarters had LIC Housing Finance posted an 18 per Bombay Stock Exchange.

Www.vifia.com 17 Www.vifia.com

SBJ Did You Buy ‘Supreme Pet’? We Recommended to buy this share in Mar’09 @ Rs. 13 Sectors Update
Price on 12th May’17 - Rs.400 (2977% Up)

The board of bank has recommended percentage terms net NPAs rose to 1.76 reduction was achieved by selling 14

dividend of Rs 5 per share for 2016-17. per cent from 1.18 per cent a year ago. infrastructure loans for a net of Rs

2,000 crore to asset reconstruction

The net interest income for the IDFC BANK companies in the quarter under

reporting quarter (Q4FY17) rose by review, the bank's Chief Financial

3.9% to Rs 4,729 crore from Rs 4,552 India's newest full commercial lender Officer Sunil Kakar said. “We are not

crore in Q4FY16. IDFC Bank reported a 6.6 per cent rise growing our infra book,” Lall said, “but

in its fourth quarter profit, as it that doesn't mean we are not building

The provisions and contingencies in continued to incur heavy expenses to our corporate business. Most of our

Q4FY17 more than doubled to Rs 2,581 improve its presence across the incremental lending is to corporates

crore as against Rs 1,168 crore in same country. outside the infra sector.”

quarter last year.

The bank has chalked up aggressive Gross non-performing assets (NPAs)

Gross bad loans increased slightly to Rs e x p a n s i o n p l a n s ; i n c l u d i n g as a percentage of advances were

21,280 crore as of end-March from acquisitions of entities dealing with three per cent and net NPAs were 1.1

December, but as a percentage of total r e t a i l c l i e n t s , m o s t l y i n t h e per cent for the quarter under review.

loans were 5.04% at end-March, microfinance space, said Managing This is a significant improvement from

compared with 5.22% as of end- Director Rajiv Lall the third quarter, when the bank's

December. gross NPA was 7 per cent. The

Profit for the quarter ended March 31 reduction was achieved mostly due to

The bank sold assets with a gross was Rs 176 crore, against Rs 165.1 the sale of assets to ARC.

outstanding of Rs 2,354 crore and a net crore in the year-ago quarter. In the

book value of Rs 1,828 crores to ARCs December quarter, the bank had posted In the next three years, the bank plans

against net sale consideration of Rs a net profit of Rs 191.2 crore. to take its customer base from 1.4

1,686 crore comprising Rs 266 crore in million to 10 million. In the same

cash and Rs 1,420 crore in Security The bank aims to be a “mass retail period, the bank plans to increase its

Receipts value. bank,” from its history of being a term 74 branches to 200, about 350

lending institution heavily invested in banking outlets (set up through

The capital adequacy ratio was 14.95% infrastructure. The share of retail corporate business correspondents)

at end of March 2017. should be half of the total loan book in to 2,000 and total payment touch

24 months, said Lall. points to 100,000 from 8,000, Lall

LAKSHMI VILAS BANK said.

The bank said in a statement: “After it

Lakshmi Vilas Bank (LVB) has reported transitioned into a bank, IDFC has The bank is also aggressively hiring,

a 6.29 per cent rise net profit to Rs successfully reduced the concentration and has improved its headcount by 62

52.16 crore during the quarter ended risk it earlier carried as a mono-line per cent in a year to 3,906 direct

March 31, 2017 from Rs 49.07 crore in f i n a n c i a l e n t i t y f o c u s e d o n employees.

the corresponding quarter a year ago. infrastructure. As on March 31, 2017,

one-fourth of the IDFC Bank's funded While the lender will focus on digital, it

Total income of the bank was up 14 per credit was retailised.” will also step up efforts to reach

cent to Rs 864.99 crore from Rs 758.84 customers through traditional means,

crore. Interest earned during the Lall said corporate loans would be to increase the retail share of the bank.

quarter stood at 733.55 crore as against important but those from the non- Inorganic growth is also on the cards.

Rs 666.32 crore a year ago. infrastructure space. Even in the “We are evaluating everything under

corporate space, the bank would focus the sun. We are actively evaluating

The bank's gross NPAs rose to Rs on working capital loans and other fee- s e v e r a l i n o r g a n i c g r o w t h

640.19 crore from Rs 391.25 crore. In based products. opportunities,” Lall said.

percentage terms gross NPAs stood at

2.67 per cent during the quarter (1.97 The share of infrastructure in bank's IDFC had acquired South India-based

per cent in the year-ago quarter). total loan was still heavy at about 54 microfinance lender Grama Vidiyal

per cent. That was an aggressive last year and Lall said the bank was

Net NPAs of the Bank rose to Rs 418.41 reduction from 72 per cent in the ex p l o r i n g a c q u i s i t i o n s i n t h e

crore from Rs 231.64 crore. In December quarter. Part of this microfinance space to improve its

Www.vifia.com 18 Www.vifia.com

SBJ Did You Buy ‘Insecticides’? We Recommended to buy this share in Mar’09 @ Rs.31 Sectors Update
Price on 12th May’17 - Rs.680 (2094% Up)

retail share. The company expects to almost triple dividend of 100 per cent, at the rate of

t h e a m o u n t r a i s e d t h r o u g h Rs 10 per share of face value of Rs 10

Net interest margin of the bank was at international markets in 2017-18 — up each aggregating Rs 274.51 crore.

two per cent, down from 2.2 per cent in to $750 mn through ECB and $750 mn

the year-ago quarter. through masala bonds. RELIANCE INDUSTRIES

For the full year, NIM was at 3.2 per ULTRATECH CEMENT Reliance Industries today reported a

cent. Capital adequacy ratio was at a 12.3% rise in its March quarter net

healthy 18.9 per cent. Ultratech Cement reported a decline of profit on the back of higher refining

11.31 per cent in its consolidated net and petrochemical margins.

INDIABULLS HOUSING FINANCE profit to Rs 725.90 crore for the fourth

quarter ended March 31, 2017 on Consolidated net profit in January-

Indiabulls Housing Finance had a 24.4 account of higher expenses. March quarter at Rs 8,046 crore, or Rs

per cent increase in net profit to Rs 841 27.3 per share, was 12.3% higher than

crore in the March quarter. Net interest The firm, part of the Aditya Birla Group, Rs 7,167 crore net profit in the same

income (NII) rose 21.8 per cent to Rs had clocked a net profit of Rs 818.56 period a year ago, the company said in

1,360 crore. crore in the January-March period a a statement. The company reported

year-ago, Ultratech said. 13% increased in standalone net

For the entire financial year, 2016-17, profit at Rs 8,151 cr for the quarter

net profit rose 24 per cent to Rs 2,906 Total income of the company was up ended March 2017. It was Rs 7,227

crore. NII grew 25.7 per cent to Rs 4.12 per cent to Rs 8,164.72 crore crore in the same period a year ago.

4,767 crore. during the quarter under review as

a g a i n s t R s 7 , 8 4 1 . 0 5 i n t h e For the full 2016-17 fiscal, the

The size of the balance sheet was Rs corresponding quarter of previous company generated its highest ever

103,705 crore. The home loan book is financial year. annual profit at Rs 29,901 crore. The

expanding faster than other mortgage annual profit was 18.8% higher than

loans. With a focus on the mid-income Its total expenses were up 14.33 per the previous year's.

segment, it is aiming at a balance sheet cent to Rs 7,710.32 crore as against Rs Reliance earned $11.5 on turning

size of Rs 2 lakh crore by FY20, said 6,743.85 crore. every barrel of crude oil into fuel in the

deputy managing director Ashwini K fourth quarter as compared to a gross

Hooda. "Domestic grey cement sales were refining margin of $10.8 per barrel in

47.62 million tonnes for the full year the same period a year before.

The company expects the share of and 13.35 million tonnes for fourth

housing loans to grow to 66 per cent of quarter of FY17. White cement and wall Reliance Jio Infocomm posted a net

total assets by March 2019, from 56 per care putty recorded sales of 13.18 lakh loss of Rs 22.50 crore for the six

cent at the end of March 2017. The million tonnes during FY17 and 3.86 months ended March 31, 2017, as the

share of loans against property will lakh million tonnes for the quarter company provided free voice and data

decline to 18 per cent, from 22 per cent ended on March 31, 2017," the services since its launch on September

now; of corporate loans to 15 per cent, company said. 5, 2016.

from 22 per cent now.

For the financial year ended on March The loss pertained to not just free

It raised Rs 27,650 crore through 31, 2017, Ultratech Cement's net profit voice and data services unleashed by

debentures and securities in 2016-17. was up 9.55 per cent to Rs 2,714.92 its brand reliance Jio, but also on

More than the Rs 22,000 crore raised in crore as against Rs 2,478.04 crore of account of employee cost, finance cost,

the 36 months from FY14 to FY16. FY16. depreciation and other expenses.

Hooda said they raised $550 million For 2016-17, Ultratech Cement's total The total expenses of the company

from abroad — $350 mn via external income was up 1.52 per cent to Rs during the six-month period stood at

commercial borrowing (ECB) and $200 29,294.05 crore as against Rs Rs 34.88 crore.

mn via rupee-denominated bonds in 28,855.39 crore in the year-ago period.

global markets ('masala bonds') during However, the company earned Rs 54

FY17. It further informed that its board in a lakh from other income during the six-

meeting held today recommended a month period.

Www.vifia.com 19 Www.vifia.com

SBJ Did You Buy ‘Aarti Drugs’? We Recommended to buy this share in May’09 @ Rs. 52 Sectors Update
Price on 12th May’17 - Rs.533 (925% Up)

Reliance Jio that launched its services lakh crore) and savings account HDFC Bank said the board of directors

in September, last year, extended the deposits up 30.9 percent (at Rs 1.93 today has approved dividend of Rs 11

free usage period for Jio services to its lakh crore). per share.

existing and new customers till March

31, 2017. CASA deposits were at 48 percent of its Capital adequacy ratio at the end of

total deposits at the end of March 2017. March quarter stood at 14.6 percent

The company started billing its Other income or non-interest income against 15.5 percent as of March 2016

customers from April and currently has during the quarter grew by 20.2 and 15.9 percent as of December

72 million subscribers. percent year-on-year to Rs 3,446.3 2016.

crore and operating profit jumped 27

Mobile subscriber additions by Bharti percent to Rs 7,279.4 crore, HDFC Bank MINDTREE

Airtel, Vodafone and Idea Cellular have said in its filing.

seen a steady decline since the launch Mid-size IT services firm Mindtree

of Reliance Jio, last September but these Cost-to-income ratio for the quarter saw 26.8 per cent decline in net profit

are likely to stabilise soon because the was 42.4 percent against 44.9 percent to Rs 97.2 crore for the quarter ending

new entrant has started billing. in same quarter last fiscal, it added. March 31, 2017 due to appreciation of

Profit was expected at Rs 3,966.6 crore Rupee against the US dollar.

According to the Cellular Operators' and net interest income at Rs 8,684.4

Association of India, Airtel witnessed a crore for the quarter, according to The Bengaluru-based company's

five per cent drop in monthly average of estimates of analysts polled revenue dropped by 0.2 per cent to Rs

subscriber additions in October. In by CNBC-TV18. 1,318 crore during the fourth quarter.

November, subscriber additions by During the same period last fiscal,

Airtel fell to 1.08 million from 2.33 Provisions for bad loans increased Mindtree reported a net profit of Rs

million in the previous month. sharply in January-March quarter, by 132 crore on revenues of Rs 1,320

90.5 percent year-on-year and 76.3 crore.

HDFC BANK percent quarter-on-quarter to Rs 1,262

crore, which consisted of specific loan "The biggest reason for decline in

HDFC Bank, the country's second loss provision of Rs 977.9 crore and profit was the foreign exchange loss as

largest private sector lender, has general provisions of Rs 280.3 crore, Indian Rupee appreciated till the last

reported stable set of quarterly the private sector lender said. day of Q4," said Rostow Ravanan, chief

earnings as profit grew by 18.2 percent executive officer and managing

year-on-year to Rs 3,990 crore in the "The specific loan loss provisions for director, Mindtree.

quarter ended March 2017. Non- March quarter included provisions on

interest income, operating profit and accounts that would have turned non- For the whole year (FY17), the

better-than-expected net interest performing in previous quarter, but company reported a net profit of Rs

income boosted earnings but sharp were classified as NPA during the 418 crore on revenues of Rs 5,236

spike in provisions limited growth. quarter, in line with additional 60/90 crore. Revenues grew more than 11

days dispensation provided by the per cent in FY17 in constant currency

Net interest income, the difference RBI," the bank explained. terms.

between interest earned and interest

expended, increased higher-than- Asset quality was stable during the Mindtree is, however, confident of a

expected 21.5 percent to Rs 9,055 crore quarter as gross non-performing assets double-digit growth as the company is

compared with Rs 7,453.3 crore were unchanged at 1.05 percent and banking on better deal wins in third

reported in corresponding quarter of net NPA rose 1 basis point to 0.33 and fourth quarters in the last fiscal

last fiscal, aided by average assets percent compared with previous and its strength in digital technology

growth of 19 percent and core net quarter. offerings.

interest margin of 4.3 percent (against

4.1 percent QoQ). In absolute terms, gross NPA increased Ravanan added that the company's

12.5 percent sequentially to Rs 5,885.6 cost for visa applications would come

The bank said total deposits surged crore and net NPA jumped 17.88 down this fiscal as it filed for less

nearly 18 percent to Rs 6.43 lakh crore percent to Rs 1,844 crore in the quarter number of visas this year.

as on March 2017, with current account ended March 2017.

deposits rising 30.7 percent (at Rs 1.15

Www.vifia.com 20 Www.vifia.com

SBJ Did You Buy ‘Abm Knowled.’? We Recommended to buy this share in Jan'09 @ Rs. 14 Young Investor
Price on 12th May’17 - Rs.149 (964% Up)

A letter to my daughter..

Not sure when is a good time to talk to and in case you do not understand / like By P V Subramanyan
Author of Retire Rich:
you about investing. Sure you know some of those shares, sell.
Invest Rs. 40 a Day
something from all the chats we have had www.subramoney.com

from time to time…but here are some 4. Never be emotional about any

generic points… asset that I leave you. Procter and Gamble

does not know my love for the share. 9. If you must buy a house, but at

1. In case you do CA, one great text 5. Be more interested in creating age 55 like I did.
book is all the balance sheets that you can

lay hands on. By the time you do your wealth than in having a great current 10. If you do not want to be in the
Inter CA you will be in a position to income. investment side of the business, sell off
understand a lot of the annual accounts,
and it is a fantastic document to learn 6. All the assets that I leave you will all shares and shift to a MF portfolio.

from. be good enough for you to live, but not 11. At age 72 (my age 72) please
have a lavish lifestyle with a lot of travel. take charge of all my assets, even if I
2. There are many investment
books to read – and you know it is 7. In all probability you will have to scream murder.

mentioned in my blog. You will find most earn for the luxuries like a cruise or a 12. At my age of 72 all my assets
of those books in the book shelf. In case vacation home in the West Indies. should be in a)index fund b)annuity and
you do not find it, but another copy – or
get a kindle copy as you wish. 8. I am likely to leave you at least c) bank fixed deposits

3. I will leave you a nice portfolio, one home, JUST SELL IT. Makes no sense 13. ….more will follow..
to own a house today.

Investment Exercises

It is not being an investor for long periods what they do. So do not give it too much US did not want Trump!

of time and not get bored. Think of importance, just learn some of the things,

investing like running a marathon. but for heaven’s sake, do not copy. It does 5. Good investors can have

Somewhere in the 19th km you are not work. Anyway to invest like Buffett or amazing trading spells! Do not be tied

wondering why you did not sign up for Ambani, you should be like them. into a particular ‘trap’. Many people

21km. Not just that your body is tired, it is think of me as a ‘value’ investor. I am one.

that your mind is bored. Then think of 3. Review EVERY share that you However, that does not mean I cannot

those runners who sign up for Comrades hold on a regular basis, and get a different trade, day trade, do short term

– it is 89km! How much more ‘mind’ view than the one you hold. I actually investing,…do not be stuck by a label.

training is necessary than a full thought MRF was over-priced at 39000 Labels do not matter. Break it.

marathon. That too with tight cut off. You and sold. Company’s results were bad (as

have to finish in `12 hours, or you do not expected) but the PE expanded (no clue 6. Good investors can go through a

get a certificate. why) and the share price went to 68000 bad phase – different from the markets.

Rs. In such cases, your expectation on For every MRF that I sold, there are

Let’s see what you can do: results was right (rejoice) but the share Gillettes and Colgates and Cummins that

1. Read a lot: there is a lot of price actually went up (oops). However, I I have not sold for upwards of 30 years.

literature on investments, do read them. need to celebrate the 15 years of holding, Sorry, more like 40 years. However, I

Most of the celebrated books are about do I not? have had bad spells when I have made

the American markets. Simply because mistakes. I am not afraid of mistakes (I

they are marketed better. Do remember 4. G e t c o n t r a r i a n v i e w s o n make too many of them anyway), I am

American literature is not the only one on everything. Why did people vote Trump? afraid of mistakes which I have no way of

investing, but yes that is what you will get Look at the upside of H1B visa issue. See explaining why it happened.

a lot. the impact on the Mexican economy. Will

Trump be impeached? People who think 7. If your goals are met, it means

2. Do remember that Buffett or differently are just as important – you got the Asset allocation right. If you

Soros or…..may have an amazing PR team remember the intelligensia of India did get up at 2am and wonder whether you

which says something different from not want NaMO and the intelligensia of have too much in shares, you have a bad

Www.vifia.com 21 Www.vifia.com

SBJ Did You Buy ‘M & M’? We Recommended to buy this share in May’09 @ Rs. 523 Young Investor
Price on 12th May’17 - Rs.1365 (161% Up)

asset allocation. What experts say should make money for its shareholders. in time.

not matter.

10. Read a lot about bias, and catch 12. Say you have a portfolio worth

8. Get up and switch channels – yourself falling into such traps. Do not let Rs. 10 lakhs (or Rs. 20 crores) – assume

Animal Plant is an awesome choice. ‘obvious’ and ‘logical’ things fool you into that all you have is cash, and re build a

believing that you could have seen them portfolio. Save it in a website. Keep

9. Identifying growth stocks is very coming! evaluating the ‘new’ portfolio. Now pick

very difficult: Exactly for the reasons for winners and losers. A very good exercise

which Hdfc bank was a good investments, 11. It is easier to see a good well to be done every 6 months.

I cannot blindly hold on to Hdfc life grown company doing well over long

insurance for 30 years. I may not even periods of time. A Case in point for me is 13. Keeping noise out of your

buy Hdfc Life shares when they do list. I Coromandel International. Supreme. portfolio is an art. All the best.

do think the life insurance industry does Gillette. Siemens, Cummins – dull boring

not deserve its PE. It makes a product companies without the glamor of Hdfc 13! not a bad start…….

against which there is a huge cry…right? bank. However all have made more

WRONG. In the growth phase it could still money than Hdfc bank at various points

Investment thoughts…

I have been asked this many times in the benefit has been withdrawn has he understand? I did not.

past 3 days, so a repeat of this post…well repaid the loan? No. Of course I did not The simple art of value investing: “all

not a repeat of the post, but a repeat of the ask him for more details. Why 2 houses? strategies can work only if the price-

thoughts. “Where to invest now” or for his 2 daughters. Lol value worth is taken into account. No

“Should I be investing at all now” or strategy can give you returns if you

“Invest or repay my loans”… Investors are always looking for a HOLY ignore the price at which you buy. There

GRAIL of Investing. So they want a Value can NEVER be ‘

I am not an expert. Clearly. I have no clear fund with rocking returns when the

view of what is to be done. I have no holy market is high. Amusing is it not? They The latest Goddess admitted to the

grail and I am no alchemist. I have tried want a high return fund with low smart beta game appears to be Quality

turning lead into gold, but was not able to variance. They want a fund which has a (Remember MOST talks about it a lot)

do so. Nobody gave me money to do those consistently ‘going up’ kinda graph, and portfolios are being launched and

experiments, but I have met many people never a downside. They learn all jargon, papers written about the “magic” of high

who have tried. Ever since the 1960s and read blogs (including this one) and come quality businesses. That is just good PR

70s people would lose money in to own conclusion. The only sensible to make sure that the press writes what

company Fixed Deposits. I am surprised innovation in the BFSI industry was the you want and uses the same wordings

that they now lose in “fully secured non index fund, and before that the Term and language. I do not think that there is

convertible bonds”. Even today I got a call insurance. J K Galbraith said in one of his ANY magic to owning quality. I LOVE

from a person asking ‘what can be done’ books, “The world of finance hails the quality but obviously only at a particular

and I said ‘nothing’. This raises the invention of the wheel over and over price. Yes quality is good if it leads to a

question as to why investors/people again, often in a slightly more unstable monopoly or a oligopoly – look at

keep falling for the stories offered up by version.” Remember Paul Volker? he said Gillette or PnG – there is a very slow

investment managers/alchemists. Never the only innovative thing that this mean reversion of the profitability of

underestimate the willingness of people industry has done is the ATM. So damn such shares. Is it not funny that the

to believe in the most outlandish of true. economists who will keep talking about

things if it suits them. competition being good for the

I get offers of Pms saying we will have a consumer, but will lap up the shares of

So a 53 year old friend has 2 new housing different strategy and here is a typical companies like Gillette which survive

mortgages, and a nice new big car again statement : minimum variance, a just on a market domination rather than

on mortgage. His whole portfolio is in preponderance of other smart beta innovation!

debt instruments, and none of the debt strategies, and our portfolio will

instruments are yielding (cannot, I o u t p e r f o r m t h e c a p w e i g h t e d Another feature of quality is that it has

guess?) returns greater than the benchmark. been priced to do relatively well. So own

mortgage rates. Then why the mortgage? quality ONLY when it is priced

Tax benefit he said. Now that the tax Wow. Kuch nahi samjha. Did you attractively, and don’t when it isn’t.

Www.vifia.com 22 Www.vifia.com

SBJ Did You Buy ‘TCS’? We Recommended to buy this share in Jul’10 @ Rs. 1022 Best Buy
Price on 12th May’17 - Rs.2359 (131% Up)

Best Buy

Tata Chemicals Ltd

Price : Rs.615
BSE Code : 500770
Face Value : Rs.10

R Mukundan

MD & CEO

Tata Chemicals Ltd is a global company with interests in businesses that focus on LIFE - living, industrial and
farming essentials. The company is the worlds second-largest producer of soda ash. They have manufacturing
facilities in India, UK, USA, the Netherlands and Kenya with global capacity of around 5.5 MTPA. They are also a
leading player in the consumer products and crop nutrition and agribusiness segments.

The company is based in Mumbai with plant locations in Mithapur (Gujarat), Babrala (UP), Nanded
(Maharashtra) and Haldia (West Bengal) in India; Northwich, Cheshire (United Kingdom), East Hanover, New
Jersey (United States), Delfzijl (The Netherlands) and Magadi (Kenya). They are having the largest single soda
ash production capacity plant in India. They operate in three sectors, namely living essentials (household
products), industry essentials and farm essentials (crop nutrition and protection).

Quarterly Financial Highlights Yearly Financial Highlights

Www.vifia.com 23 Www.vifia.com

GossipSBJ May 2017

Meet Jensen, Our New Senior Another Example of Technology
Vice President of Indecision Driving Innovation

“Yes, can you have someone bring me some scissors?”

Finolex Cables.at Rs.500 is rumoured to be a good buy. Share is tipped to appreciate well from
this price.

Thyrocare Technologies. at Rs.710 is tipped to be a good buy. Share is rumoured to move up
substantially from this price.

Colgate Palmolive (India). at Rs. 1065 is rumoured to be a good buy. Share is tipped to
appreciate well from this price.

The Next Trend in Office Design: Be Careful When Expanding

Would You Believe…? Your Offerings

“We ditched the open office. 24 "I'm diversifying.”
Now we're going free range.”
Www.vifia.com
Www.vifia.com

CUPID LIMITED

A-68, MIDC, Sinnar (Malegaon), Nasik, Maharashtra - 422113

Audited Financial Results for the Quarter and Year Ended 31st March, 2017

(Rs. in Lakhs)

PARTICULARS Quarter ended on Year Ended

31-Mar-2017 31-Dec-2016 31-Mar-2016 31-Mar-2017 31-Mar-2016
(Audited) (Unaudited) (Audited)
(Audited) (Audited)

Net Sales 1787.96 2766.90 1772.45 8292.93 6114.56

Other operating Income 61.71 70.73 52.29 229.05 165.91

Total Revenue 1849.67 2837.63 1824.74 8521.98 6280.47

Expenses 558.10 930.57 570.09 3038.61 2203.56
Cost of Material Consumed 68.38 120.74 22.82 (5.76) (1.86)
Change in Inventories 128.39 519.19 391.86
Employee benefit expenses 143.68 103.34 209.81 193.00
Depreciation 54.84 51.83 49.83 989.47
Other Expenditure 571.06 1508.14
261.55 243.95

Total Expenses 1086.55 1802.59 990.03 5269.99 3776.03

Profit before finance costs, 763.12 1035.04 834.71 3251.99 2504.44
exceptional items & tax

Finance Cost 3.47 2.21 8.10 11.68 21.47

Profit before exceptional Item & Tax 759.65 1032.83 826.61 3240.31 2482.97

Exceptional income / ( expenses) - -- --

Profit Before Tax 759.65 1032.83 826.61 3240.31 2482.97

Deferred Tax Expenses / (Credit) (10.38) (8.85) (24.22) (3.00) (19.72)
Income tax for earliar year 9.39 - - 9.39 -
Income tax for current year
268.61 399.57 389.30 1180.00 909.40

Net Profit / (Loss) 492.03 642.11 461.53 2053.92 1593.29

Paid up Equity Share Capital (Face 1111.50 1111.50 1111.50 1111.50 1111.50
value Rs.10/-)

Reserve excluding Revaluation Reverse - - - 4021.09 2501.48

Earning Per Share (EPS) on equity
share of face value Rs.10 Each

Basic EPS (Amount is Rs) 4.43 5.78 4.15 18.48 14.33

Diluted EPS (Amount is Rs) 4.43 5.78 4.15 18.48 14.33

Place : Mumbai For Cupid Limited
Date : 23-05-2017
Omprakash Garg
Chairman & Managing Director

( This is not a statutory advertisement. )