How Small cap Funds beat Nifty : A complete analysis of Different charts and Fact sheet

1. Cumulative Performance Chart (%)
 
2. Discrete Bar Chart
 
3. FACT SHEET OF SMALL CAP INDEX
 
4. Interactive Performance chart
 
5. Distribution Chart Period Type 3 years
 
6. Ratio Table
 
7. Rolling Bar Chart
 
8. Systematic Investment plan ( SIP ) Chart for last 5 Years SIP of Rs. 50000/- p.m.
 
9. Regular Withdrawal chart

Initial Investment: 10000000.00

Data Frequency: Monthly

Withdrawals Date: 10th of the Month

Withdrawals Amount: 100000.00 Monthly For 5 years

Data Frequency: Monthly

Withdrawals Date: 10th of the Month

Withdrawals Amount: 100000.00 Monthly For 5 years

10. Static Scatter Chart
 

Cumulative Performance Chart  (%)

Cumulative Performance (%) Cumulative PerformanceDiscrete Bar Chart

Discrete Bar Chart

FACT SHEET OF SMALL CAP INDEX

Download (PDF, 172KB)

What are Dynamic Funds? ( Video )

Interactive Performance chartInteractive Performance chart 1Distribution Chart Period Type 3 years

Distribution Chart Period Type 3 years

Retirement Fund : What is a Systematic Withdrawal Plan ( VIDEO )

Ratio TableRatio TableRolling Bar Chart

Rolling Bar Chart

Do Not Compare Yourself with Other Investors While Making Investment

Systematic Investment plan ( SIP ) Chart for last 5 Years SIP of Rs. 50000/- p.m.

SIP CHART 4Regular Withdrawal chart

Initial Investment: 10000000.00

Data Frequency: Monthly

Withdrawals Date: 10th of the Month

Withdrawals Amount: 100000.00 Monthly For 5 years

Data Frequency: Monthly

Withdrawals Date: 10th of the Month

Withdrawals Amount: 100000.00 Monthly For 5 years

 

Regular withdrwal chart 2Static Scatter Chart

Static Scatter Chart

DISCLAIMER

Past performance of fund does not guarantee the future returns

No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on information published here.

Gold Vs Equity Return ( Image and Video )

If you had invested Rs. 1 lakh in gold in 1979 then today its worth is Rs. 30.26 lakh…. while on the other hand, if you would have invested the same amount Of Rs.1 Lakh in equity then today its worth of Rs. 3.1 cr…..

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DISCLAIMER

No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here.

Know more About P/E Ratio and its Significance

We all know about that there are ups and downs in the stock market every day, we often hear about that the market is more than its value today or under-valued today also, that this or that stock is expensive or cheap etc. So what does that really means in the subject to stocks?

For example, if the share price of a company is Rs.100 and share price of another company is Rs.500 that is the share price of one company are more than another one that does not mean the company having high share price is expensive than the company having low. Share prices of the companies are always identified regarding EPS (Earnings per Share).

PE RATIO

EPS

EPS is the portion of the profit of the company allocated to each outstanding share of common stock. EPS works as a calculator of profitability of any company. More often, sometimes the data sources make the calculation easier by using a number of shares that stands out at the end of a particular period. The term EPS represents the part of the net gross of a company, taxes and stock dividends. EPS is also a calculation of company’s profitability on the shareholder point of view.

EPS

When one is purchasing shares of any company then he is purchasing the future earnings on a stock of that company. Also, if the EPS is high you have to be prepared to pay the high price and if it is not, then you will not get prepared to pay a high price. EPS is calculated by dividing post-tax profits from the number of shares in issue.

P/E ratio

For a long time, the investors and stock analysts use price-earnings ratios which are named as P/E ratios. P/E ratios are the ratios of share prices to earnings. P/E ratio is calculated by the price of a share of a stock divided by EPS (Earnings per Share) of the stock.

PE

The P/E ratio is used to help the investors to know the time period in terms of years in the value of earnings a company will need to make the production to get its current market share value.

Two types of measurement issues are there while calculating P/E ratio. First one discusses the period at which price of the shares and earnings are calculated. The price shown in a P/E is generally the current market price of the stock such as weekly or monthly average ratio. Second one concerns about earning for the future predicted earnings for the next year.

Bharat-22 ETF Complete Portfolio – Will u buy this basket?

Limitations of P/E Ratio

P/E ratio shows nothing but the EPS growth prospects of a company to the investors and that is the big limitation of P/E ratio. The company having high growth rate seems comfortable to buy even having high P/E ratio, perceiving that increase in EPS will somehow assist the P/E back down to a low level. If the company has not that much growth rate, you may look after the stock has lower P/E ratio also it is often not easy to know whether a high P/E multiple is due to the growth or just the stock gets overvalued.

P/E ratio once calculated using an estimation of further earnings is not able enough to provide the information whether the P/E is suitable enough for the current growth rate of the company. To fulfill this limitation, another type of ratio is used named PEG (Price Earnings to Growth) ratio.

PEG

PEG Ratio is calculated by dividing PE to EPS growth rate over the next year. PEG ratio propose that the P/E is in the line of growth when a PEG is greater than one it means that the stock is overpriced.

Conclusion

Undoubtedly, the P/E ratio is very famous and easy to calculate, but also there are many drawbacks that the investors should keep in mind while using it to evaluate values of the stock market. Straightly, no single ratio can give you all the information you want to know about stocks. So, try to use multiple types of ratios to get full-proof information about stock and its valuation.

Bharat-22 ETF Complete Portfolio – Will u buy this basket?

Bharat-22 ETF Complete Portfolio to be launched on behalf of Govt by ICICI Pru MF Will u buy this basket?

The ETF will be a portfolio of six sectors–basic materials, energy, finance, FMCG, as well as industrial and utilities. There will be a sectoral capping of 20 percent and a single company stock cap of 15 percent.

Bharat22 is fairly diversified products which will represent the performance of India & Government’s agenda over the long-term.

Invest in 10 Maharatna’s and Navratna’s

ICICI Prudential AMC will be the ETF Manager and Asia Index Private Ltd (JV BSE and S& P Global) will be the Index Provider.

bharat22The government raised Rs 8,500 cr by divesting through CPSE ETF in the last financial year 2016-17.

For FY17, the government had revised the divestment target to Rs 45,500 crore and had over-achieved it by raising a total of Rs 46,247 crore.

If investors remember the first government ETF (CPSE ETF) was launched in March 2014. The fund has outperformed the index by a wide margin. It is up over 22 percent in the past one year, more than the near-18 percent rise in the Nifty50 index, and 17% which is the average of top 3 ETF linked to the index.

CPSE ETF Further Fund offer 2 (FFO 2) at 3.5% Discount

Globally, ETF assets have grown significantly. There is USD 4 trillion worth Assets Under Management (AUM) and are expected to touch USD 7 trillion by 2021.

“Bharat-22 is adverse to political risk, changes in government policy and governance of PSU which was less active historically.

DISCLAIMER

No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here.

Cochin Shipyard IPO Review and GMP

Cochin Shipyard is the largest public sector shipyard in India in terms of dock capacity, according to CRISIL Report. The company caters to clients engaged in the defense sector in India and customers involved in the commercial sector worldwide. In addition to shipbuilding and ship repair, it also offers marine engineering training. As of January 31, 2017, Cochin Shipyard has two docks – dock number one, primarily used for ship repair (“Ship Repair Dock”) and dock number two, mostly used for shipbuilding (“Shipbuilding Dock”). The Ship Repair Dock is one of the largest in India and enables it to accommodate vessels with a maximum capacity of 125,000 DWT (Dead Weight Tonnage). The Shipbuilding Dock can accommodate vessels with a maximum capacity of 110,000 DWT.

Cochin Shipyard is in the process of constructing a new dock, a ‘stepped’ dry dock (“Dry Dock”). This stepped dock will enable longer vessels to fill the length of the dock and wider, shorter ships and rigs to be built or repaired at the wider part. The company is also in the process of setting up an International Ship Repair Facility (“ISRF”), which includes setting up a ship lift and transfer system.

In the last two decades, Cochin Shipyard has built and delivered vessels across broad classifications including bulk carriers, tankers, Platform Supply Vessels (“PSVs”), Anchor Handling Tug Supply vessels (“AHTSs”), barges, bollard pull tugs, passenger ships and Fast Patrol Vessels (“FPVs”). The company is currently building India’s first Indigenous Aircraft Carrier (“IAC”) for the Indian Navy. It has also grown its ship repair operations and is the only commercial shipyard to have undertaken repair work of Indian Navy’s aircraft carriers, the INS Viraat and INS Vikramaditya.

Cochin-Shipyard

 IPO Information

Issue Opens on: 01 August 2017
Issue Closes on: 03 August 2017
Issue Type: Book Built Issue IPO
Issue Size: 3,39,84,000 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.424 – Rs.432 per Equity Share (QIB & NII)
Discounted PB: Rs.403 – Rs.411 per Equity Share (RII & Employees)
Market Lot: 30 shares
Listing proposed at: NSE, BSE

IPO Schedule :

31st July – Anchor List
01st Aug (Tuesday)– Offer Opens
03rd Aug(Thursday) – Offer Closes
08th Aug – Finalisation of Basis of Allotment
09th Aug – Unblocking of ASBA
10th Aug – Credit to Demat Accounts
11th Aug( Friday) – Listing on NSE & BSE

Allocation to QIB : 50%
Allocation to NII :15%
Allocation to RIII : 35%

Object of the Issue

1. Setting up of a new dry dock within the existing premises of our Company (“Dry Dock ”);

2. Setting up of an international ship repair facility at Cochin Port Trust area (“ISRF ”); and

3. General corporate purposes.

TOP 10 SHAREHOLDER

TOP 10 SHAREHOLDER1Outlook of the Firm:-

  1. The largest Public Sector Shipyards Caters;
  2. Offering diversified products and services maintaining quality;
  3. Maintain a robust and strong customer base;
  4. Competitive cost structure and efficient operations;
  5. Competitive financial records and performance;
  6. Skillful and experienced management and leadership team.

relianceReasons not to invest in Cochin Shipyard

There are outstanding legal and tax proceedings involving its Company. Further, in one of the outstanding legal proceedings, the Chairman and Managing Director of its Company has also been made a performa party. Any adverse decision in such proceedings may expose us to liabilities or penalties and may adversely affect its business, financial condition, results of operations and cash flows.

Worldwide demand and pricing in the commercial shipbuilding industry are highly dependent upon global economic conditions. If the global economy fails to grow at an adequate pace, it may adversely impact the commercial ship building industry which may negatively affect its business, financial condition and growth prospects.

Loss of any of its major customers or a reduction in their orders, or failure to succeed in tendering for shipbuilding or ship repair projects for the Indian Navy in the future, despite its previous track record will have a material adverse impact on its business, financial condition, results of operations and growth prospects as company are dependent on a few of its major customers.

The company cannot assure you that its proposed Dry Dock or International Ship Repair Facility will become operational as scheduled, or at all, or operate as efficiently as planned. If company are unable to commission its new proposed dry dock or the new ship repair facility in a timely manner or with out cost overruns, its business, results of operations and financial condition may be adversely affected.

HUDCO IPO Review and Market premium

The cost estimates by the Dry Dock Project Consultant and the ISRF Project Consultant have been derived from and benchmarked against similar maritime and dry dock/shipyard projects carried out by the Dry Dock Project Consultant and the ISRF Project Consultant respectively in recent years and may not be accurate.

The company could incur losses under its fixed price contracts as a result of cost overruns, delays in delivery or failures to meet contract specifications which may have an adverse effect on its business, financial condition and results of operations.

The companies entire business operations are based out of a single shipyard at Kochi. The loss of, or shutdown of, its operations at its shipyard in Kochi will have a material dverse effect on its business, financial condition and results of operations.

Reasons to invest in Cochin Shipyard

Build a strong order book by bidding vigorously for projects to be awarded by the Indian PSUs and defence sector pursuant to ‘Make in India’ initiative.

Continue to enhance its construction quality and delivery time and enhance its price competitiveness in order to increase its market share.

Continue to leverage its market position and its relationships with customers, suppliers and other business partners to support its growth and improve its competitiveness.

One of India’s leading public sector shipyards catering to both commercial clients as well as clients engaged in the defence sector with a multitude of offerings for a broad range of vessels across life cycles.

Modern facilities and infrastructure and integrated capabilities to deliver quality products and services.

Order book with a strong customer base of reputable ship owners and marquee clients.

Competitive cost structure and efficient operations.

Led by a dedicated board, long serving and experienced senior management backed by a strong pool of experienced professionals Continuous profits leading to robust financial performance.

INDIA SHIP1Key drivers

Strategic positional advantage

India’s strategic position along the east bound and west bound international trade routes offers an opportunity to cater to vessels plying on these routes. A main container route connecting America and Europe to the East passes very close to the Indian coastline presenting a major opportunity for repairs.

Capacity additions

Cochin Shipyard is in the process of adding one more dry dock of size 310 x 75/60 x 13 M, which will enable it to undertake repairs of vessels like LNG carriers, semisubmersibles, jack up rigs, and drill ships.

Full commissioning of the international ship repairing facility at Cochin port with state of the art ship repair facilities  will  enable  Cochin  to  position  itself  as  a  major  ship repair  hub.  The target  is  to  enhance Cochin Shipyard’s ship – repair capability by 70 – 90 ships per annum.

Phase 3 and 4 of development (the expansion and up gradation of infrastructure at Goa Shipyard) are under progress. This development is expected to enhance its capabilities for the repair of ships for clients engage in the defence sector.

The construction of a floating dry dock facility at V O Chidambaranar port is in the feasibility study phase.

This  facility would enhance its capacity to carry out under water repairs of tugs, launch boats and other watercrafts.

The project to modernise ship repairing facilities at Kolkata dock is expected to improve  its capabilities to service both Indian and foreign vessels. The project is still in the planning stages.

There is a proposal underway for refurbishment of the existing Hughes dry dock at Mumbai port. This project aims to provide adequate wet berth facilities to complement dry docks to cater to afloat repairs.

In  order  to  create  adequate  dry  docking  facilities  and  maintenance  capacities  for  vessels  plying  through Andaman and Nicobar waters, a project to create a ship repair facility (ship lift/slipway) capable of handling 5000  DWT  vessels  is  underway  and  is  in  the  pre -feasibility  stage,  according  to  a  report published  at  the Maritime India Summit 2016.

Industry peers

PEERS

Company Financials

For the year ended March 2017, the company reported revenue of Rs. 2208.5 crores. Profit figure for the year stood at Rs.312.1 for the year ended March 2017. Basic EPS for the year ending March 2017 is Rs. 27.56 whereas last three years weighted EPS comes to be Rs. 23.38.

Revenues from shipbuilding and ship repair operations in recent fiscals

Valuation

Company revenue grew by 3% to Rs 2059.49 crore for the year ended March 2017. But its operating profit margin declined by 120 bps to 18.5% and thus the operating profit was down by 3% to Rs 380.20 crore. Eventually gained by higher other income and lower interest, the net profit was up by 7% to Rs 311.12 crore. The EPS for FY17 works out to Rs 23.0 on post issue equity.

The offer price of Rs 424-432 discounts the FY17 EPS by 18.4 times on lower price band and 18.8 times on upper price band. The listed comparable peer Reliance Defence Engineering has reported a net loss for FY17 and thus its EPS was in negative.

The EV/order book of CSL is at 1.2 times. The EV/sales and EV/EBITDA was 1.9 times and 7.6 times compared to 23.9 times and 183.8 times that of Reliance Defence Engineering.

Grey market premium

 Grey market premium is Rs.160/-, Kostak is Rs. 1100/-,

Conclusion: Investors may consider investment for medium to long term

Security and Intelligence Services India (SIS India) IPO Review

Security and Intelligence Services India (SIS India) is a leading provider of private security and facility management services in India. Its portfolio of services includes Private Security Services and Facility Management Services. Within the Private Security Services vertical, it offers Security Services, Cash Logistics Services, Electronic Security Services and Home Alarm Monitoring and Response Services.

SIS India has entered into strategic relationships in India with several multinational companies. For cash logistics and alarm monitoring and response businesses, it has entered into joint ventures with affiliates of Prosegur Compañía de Seguridad, S.A., a global player in cash management and alarm monitoring. It has also entered into a joint venture with an affiliate of Terminix International Company, L.P., a multinational provider of termite and pest control services. In addition, it has licensed the ‘ServiceMaster Clean’ brand, and associated proprietary processes, operating materials and know-how for facility management business in India from The Service Master Company, LLC group, a commercial and residential cleaning service provider.

As of April 30, 2017, it has a widespread branch network consisting of 251 branches in 124 cities and towns in India, which covers 630 districts. It employed 148,678 personnel in India and rendered security and facility management services at 11,869 customer premises across India. In Australia, the company operates in each of the eight states and employed 5,754 personnel servicing 245 customers, as of April 30, 2017. Its widespread branch network enables it to service a large number of customer premises and render customized services across India and Australia.

SIS India IPO Dates & Price Band:

  • IPO Open: 31-July-2017
  • IPO Close: 02-August-2017
  • Face Value: Rs. 10 Per Equity Share
  • Price Band: Rs. 810 to 815 Per Share
  • Listing on: BSE & NSE
  • Retail Part: 10%
  • Total Size: 51,20,619 Equity Shares

SIS India IPO Market Lot:

  • Shares: Apply for 18 Shares (Minimum Lot Size)
  • Amount: Rs. 14670

Category-wise Break up:

Anchor – 43,04,432 Shares = 350.81Crs
QIB – 28,69,622 Shares = 233.87Crs
NII – 14,34,810 Shares = 116.94Crs
RII – 9,56,540 Shares = 77.96Crs (Lot size: 18 = 53,141 Forms)
Total Issue – 95,65,404 Equity Shares = 779.58Crs.

SIS India IPO Allotment & Listing:

28th July – Anchor List
31st July – Offer Opens
02nd Aug – Offer Closes
07th Aug – Finalisation of Basis of Allotment
08th Aug – Unblocking of ASBA
09th Aug – Credit to Demat Accounts
10th Aug – Listing on NSE & BSE

SIS India IPO Lead Managers:

  • Axis Capital Limited
  • ICICI Securities Limited
  • IDBI Capital Market Services Limited
  • IIFL Holdings Limited
  • Kotak Mahindra Capital Company Limited
  • SBI Capital Markets Limited
  • Yes Securities (India) Limited

Company Promoters:

  • Ravindra Kishore Sinha
  • Rituraj Kishore Sinha

Objects of IPO:

Repayment and pre-payment of a portion of certain outstanding indebtedness availed by the Company.
& Funding working capital requirements of the Company.

Anchor Investor :

Security and Intelligence Services (SIS) has alloted 43,04,432 shares to 18 anchor investors at Rs 815 per share aggregating to Rs.350.81 crore. The anchor investors include Abu Dhabi Investment Authority-Behave, Reliance Capital Trustee Co. Ltd A/C Reliance Tax Saver (Elss) Fund, Birla Sun Life Trustee Co. Pvt Ltd A/C Birla Sun Life Small & Midcap Fund, Amundi Funds Equity India and Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.

SIS

Reasons to invest in this IPO (Positive Points)

SIS is ranked as a second largest security services provider in India, and its wholly-owned Subsidiary, MSS Security Pty Limited (“MSS”) is ranked as largest security services provider in Australia.

A diverse portfolio of private security and facility management services.

Established systems and processes leading to a scalable business model ; and

Experienced management and operational team

Australian operations which now form a major chunk of SIS Revenues from security services has been growing at 7% in terms of Australian Dollar.

SIS has shown ability for inorganic growth as well and its facility management business has gained good traction after acquisition  of ‘Duster’.

Reasons not to invest in this IPO (Negative Points)

SIS Promoter and  the  Chairman and  Managing Director of our Company,  Ravindra Kishore Sinha, has been named as one of the respondents in criminal proceedings initiated by certain regulatory authorities.

Operational risks are inherent in SIS business as it includes rendering services in challenging environments. A  failure to manage such risks could have an  adverse impact on its business, results of operations and 20 financial condition.

SIS has a large workforce deployed across workplaces and customer premises, consequently, company may be exposed to service related claims and losses or employee disruptions that could have an adverse effect on its reputation, business, results of operations and financial condition.

SIS businesses are manpower intensive and its inability to attract and retain skilled manpower could have an adverse impact on its growth, business and financial condition.

Au Financiers (India) Limited IPO! Put in or out ?

SIS are subject to several labour legislations and regulations governing welfare, benefit’s and training of its employees and SIS are also a party to several litigations initiated by its former or current employees.Any increase in wage and training costs or if any decisions in pending cases are against SIS,could adversely affect its business, financial condition and cash flows.

SIS have made certain issuances and allotments  of its equity shares which are  not in compliance with section 67(3) of the Companies Act, 1956.

SIS are subject to risks associated with operating with joint venture and other strategic partners.

SIS cash logistics business exposes to additional risks in relation to the conduct of its employees, contractual liability and inadequate insurance cover, all of which may have an adverse effect on its reputation, business, results of operations and financial condition.

SIS have availed certain unsecured loans that are recallable by the lenders,  subject to the terms and conditions of their grant, at any time.

Financials :

On performance front, the company has (on a consolidated basis) reported total revenue/net profits of Rs. 3107.68 cr. / Rs. 65.43 cr. (FY14), Rs. 3565.15 cr. / Rs. 48.48 cr. (FY15), Rs. 3850.12 cr. / Rs. 64.57 cr. (FY16) and Rs. 4577.12 cr. / Rs. 90.54 cr. (FY17). It suffered a setback in FY 15 on account higher provisioning of depreciation, finance cost and employees benefits.

Last three year’s average EPS is Rs. 11.75 and for FY17 it is Rs. 13.03. Last three fiscal’s average RoNW is 16.65%. For last five fiscals, it has reported CAGR of 14.6% in revenues, 4.5% in EBITDA margins and 25% plus for RoACE. If we attribute latest earnings on fully diluted equity post issue, then asking price is at a P/E of 65 plus that augurs well against its nearest peer Quess Corp (although it is not in all the segments like SiS) trading at a P/E of 95 plus. Issue is priced at a P/BV of 10.31.

Grey market premium

Current Grey market premium is Rs.70/- to Rs.75/-

Conclusion

High Risk investors may be considered for the short term.

DISCLAIMER

No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here.