BSE: 511549 | NSE: | Finance - NBFC | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Morarka Finance Ltd is a average quality company.
The key valuation ratios of Morarka Finance Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Morarka Finance Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 0 | 0.1 | 0.2 | 0.4 | 2.8 | 1 | 5.4 | 1.3 | 4.5 | 5.9 | 0 | |
| YoY Gr. Rt. % | - | NA | 240% | 117.7% | 643.2% | -65.1% | 465.6% | -76.6% | 252.8% | 30.8% | - | |
| Adj EPS (₹ ) | -0.5 | -0.1 | 0 | 0.4 | 5.2 | 1 | 11 | 1.5 | 8.2 | 10.4 | 11.9 | |
| YoY Gr. Rt. % | - | NA | NA | 1900% | 1200% | -80% | 956.7% | -86.2% | 439.5% | 26.8% | - | |
| BVPS (₹ ) | 20.1 | 20.1 | 20.1 | 20.5 | 25.7 | 25.5 | 36.5 | 162.6 | 598.2 | 422 | 519.1 | |
| YoY Gr. Rt. % | - | -0.4% | 0.1% | 2% | 25.3% | -0.7% | 43.1% | 345.6% | 267.9% | -29.5% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | -2.3 | -0.4 | 0.1 | 2 | 22.6 | 4 | 35.2 | 1.5 | 2.2 | 2 | 0 | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | NA | 16.3% | 2.6% | 30.8% | ||||||||
| Adj EPS | NA | 14.9% | -1.8% | 26.8% | ||||||||
| BVPS | 40.2% | 75% | 126.1% | -29.5% | ||||||||
| Share Price | 40.5% | 40.2% | 62.3% | 10% | ||||||||
| RATIOS \ YEARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 0 | -81.3 | 6 | 49.5 | 85 | 48.8 | 91.1 | 54.2 | 82.4 | 79.9 | INF | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | -2.3 | -0.4 | 0.1 | 2 | 22.5 | 4.1 | 35.4 | 1.5 | 2.2 | 2 | 2.3 | |
Return on Equity has increased versus last 3 years average to 2.50%
Total Income has increased 2.57 CAGR in last 3 years
Total income growth is good in last 4 quarters
Net Profit has declined -1.82 CAGR in last 3 years
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.9 | - |
| TTM Sales (₹ Cr.) | 0 | - |
| BVPS (₹.) ⓘ | 519.1 | - |
| Reserves (₹ Cr.) ⓘ | 229 | - |
| P/BV ⓘ | 0.27 | - |
| PE ⓘ | 11.57 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 110.30 / 187.00 |
| All Time Low / High (₹) | 0.53 / 187.00 |
| Market Cap (₹ Cr.) | 62 |
| Equity (₹ Cr.) | 4.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.3 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 0.11 | 0.21 | 0.34 | 0.72 | 2.75 | 0.96 | 5.43 | 1.28 | 4.48 | 5.86 |
| Interest Income | 0 | 0.05 | 0.17 | 0.37 | 2.75 | 0.96 | 5.43 | 1.27 | 4.48 | 5.86 |
| Other Income ⓘ | 0.11 | 0.16 | 0.18 | 0.35 | 0 | 0 | 0 | 0.01 | 0 | 0 |
| Expenditure ⓘ | 0.35 | 0.22 | 0.33 | 0.45 | 0.38 | 0.42 | 0.45 | 0.36 | 0.43 | 0.39 |
| Interest Expense ⓘ | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses ⓘ | 0.16 | 0.19 | 0.22 | 0.38 | 0.33 | 0.36 | 0.35 | 0.29 | 0.35 | 0.30 |
| Provisions | 0.17 | 0.03 | 0.11 | 0.07 | 0.05 | 0.07 | 0.11 | 0.08 | 0.08 | 0.09 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -0.23 | -0.01 | 0.02 | 0.27 | 2.37 | 0.53 | 4.98 | 0.92 | 4.05 | 5.47 |
| Taxes ⓘ | -0.02 | 0.03 | 0.01 | 0.08 | 0.03 | 0.07 | 0.03 | 0.23 | 0.36 | 0.79 |
| Profit After Tax | -0.21 | -0.04 | 0.01 | 0.18 | 2.34 | 0.47 | 4.95 | 0.69 | 3.69 | 4.68 |
| Adjusted EPS (₹) | -0.5 | -0.1 | 0.0 | 0.4 | 5.2 | 1.0 | 11.0 | 1.5 | 8.2 | 10.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 19% | 0% | 0% | 66% | 49% | 48% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 9.07 | 9.03 | 9.04 | 9.22 | 11.56 | 11.49 | 16.43 | 73.22 | 269.33 | 189.97 |
| Share Capital ⓘ | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 | 4.50 |
| Reserves ⓘ | 4.57 | 4.53 | 4.54 | 4.72 | 7.06 | 6.98 | 11.93 | 68.72 | 264.83 | 185.47 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | -0.20 | -0.17 | -0.18 | -0.08 | -0.06 | 0.02 | 0.04 | 0.03 | 0.13 | 0.19 |
| Current Liabilities | 0.02 | 0.02 | 0.02 | 0.03 | 0.05 | 0.06 | 0.04 | 0.18 | 0.39 | 0.72 |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short term borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities ⓘ | 8.88 | 8.88 | 8.88 | 9.17 | 11.56 | 11.56 | 16.51 | 73.43 | 269.85 | 190.88 |
Assets | ||||||||||
| Non Current Asset | 8.70 | 8.69 | 8.69 | 8.96 | 11.19 | 11.16 | 13.86 | 72.93 | 269.06 | 189.86 |
| Loan Asset | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non Current Asset ⓘ | 8.70 | 8.69 | 8.69 | 8.96 | 11.19 | 11.16 | 13.86 | 72.93 | 269.06 | 189.86 |
| Current Asset | 0.19 | 0.19 | 0.19 | 0.22 | 0.37 | 0.41 | 2.66 | 0.50 | 0.79 | 1.02 |
| Current Investment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Asset | 0.19 | 0.19 | 0.19 | 0.22 | 0.37 | 0.41 | 2.66 | 0.50 | 0.79 | 1.02 |
| Total Assets ⓘ | 8.88 | 8.88 | 8.88 | 9.17 | 11.56 | 11.56 | 16.51 | 73.43 | 269.85 | 190.88 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -0.23 | -0.01 | 0 | 0.26 | 2.30 | 0.07 | -0.09 | -5.48 | -0.16 | -0.55 |
| Cash Flow From Investing Activity ⓘ | 0.52 | 0 | 0 | -0.27 | -2.23 | 0.47 | 2.37 | 3.24 | 0.70 | 2.26 |
| Cash Flow From Financing Activity ⓘ | -0.28 | 0 | 0 | 0 | 0 | -0.54 | 0 | 0 | -0.45 | -1.80 |
| Net Cash Flow ⓘ | 0.01 | -0.01 | 0 | -0.01 | 0.06 | 0 | 2.28 | -2.24 | 0.08 | -0.09 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 0 | 0 | 0 | 0 | 5 | 1 | 11 | 2 | 8 | 10 |
| DPS (₹) | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 4 | 5 |
| BVPS (₹) | 20 | 20 | 20 | 20 | 26 | 26 | 37 | 163 | 598 | 422 |
Performance Ratios | ||||||||||
| ROA (%) | -2.3 | -0.4 | 0.1 | 2.0 | 22.6 | 4.0 | 35.2 | 1.5 | 2.2 | 2.0 |
| ROE (%) | -2.3 | -0.4 | 0.1 | 2.0 | 22.5 | 4.1 | 35.4 | 1.5 | 2.2 | 2.0 |
| ROCE (%) | -2.3 | -0.1 | 0.2 | 2.9 | 22.8 | 4.6 | 35.6 | 2.1 | 2.4 | 2.4 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.2 | 0.4 | 0.5 | 1.1 | 1.3 | 1.0 | 0.5 | 0.2 | 0.2 | 0.3 |
Morarka Finance established on March 15, 1985 promoted by G R Morarka and a Dwarikesh Group company that manages a host of successful companies in areas as diverse as sugar, power, distilleries, ethanol production, agriculture production, media and information technology.
Morarka Finance was originally incorporated as Morarka Holdings Limited vide certificate of Incorporation No. 11-35632 dated March 15, 1985 with Registrar of Companies, Maharashtra at Mumbai and received the Certificate for commencement of business on March 15,1985. The name of the Company has been changed to Morarka Finance Limited on May 28, 1993.
The company commenced its business in 1985 with an initial capital of Rs. 44 Lacs identifying investment activities (Trading and marketable securities) as its core business. The same continued to be the sole activity until 1992 when the Company made a foray into other related activities including Merchant Banking and OTCEI trading.
The capital base was also enhanced to Rs 157 lakh in the year 1993-94 to meet the requirements of its expanded business. The company also worked as a Category II Merchant Banker and in that capacity provided its services in the capacity of co-manager for some of the Public Issues. The company has underwritten over Rs. 7 crore worth of issues. At times the company also worked as an authorized agent of the American Express Bank for the issue of travelers cheques. The company was also holding a license from the RBI and is totally debt free.
The company made its Initial Public Offer of equity shares in 1994 to augment resources to meet the needs of its planned growth, which was a major success. The sompany’s shares are listed on the Bombay Stock Exchange (BSE).
The rise in the profits of Morarka Finance can be attributed to the increase in revenue and decrease in operating expenses. Operating efficiencies and no interest payout supplemented by better management for controlling the cost and efficient working capital management has resulted in an impressive growth in profit in this year and also in the future.
Business area of the company spreads to
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