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BSE: 511208 | NSE: IVC | Finance - Investment | Small Cap
1. Is IL&FS Investment Managers Ltd a good quality company?
Past 10 year’s financial track record analysis by Moneyworks4me indicates that IL&FS Investment Managers Ltd is a below average quality company.
2. Is IL&FS Investment Managers Ltd undervalued or overvalued?
The key valuation ratios of IL&FS Investment Managers Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
3. Is IL&FS Investment Managers Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of IL&FS Investment Managers 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'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 101 | 111 | 104 | 102 | 61.6 | 37.7 | 36.3 | 24 | 7.4 | 3.8 | 3 | |
| YoY Gr. Rt. % | - | 10.1% | -6.6% | -1.8% | -39.7% | -38.8% | -3.5% | -34% | -69.2% | -49.2% | - | |
| Adj EPS (₹ ) | 1.4 | 1.7 | 1.8 | 1.6 | 0.8 | 0.2 | 0.3 | 0.3 | -0.1 | 0.4 | 0.4 | |
| YoY Gr. Rt. % | - | 26.7% | 4.1% | -12.4% | -51.3% | -77.6% | 88.2% | -21.9% | -136% | NA | - | |
| BVPS (₹ ) | 3 | 3.3 | 3.7 | 3.9 | 4.7 | 4.2 | 3.9 | 3.8 | 3.1 | 3.2 | 3.2 | |
| YoY Gr. Rt. % | - | 9.7% | 10.9% | 8% | 19.5% | -11.9% | -7% | -1.8% | -17.9% | 3.2% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 29.5 | 22.9 | 17.2 | 14.6 | 8.4 | 2.9 | 7.4 | 6.1 | -2.4 | 11.9 | 0 | |
CAGR ⓘCAGR Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Net Interest Income | -30.7% | -42.9% | -53.1% | -49.2% | ||||||||
| Adj EPS | -12.6% | -12.1% | 7.7% | NA | ||||||||
| BVPS | 0.8% | -7.4% | -6% | 3.2% | ||||||||
| Share Price | -6.4% | -8.4% | 41.5% | 53.7% | ||||||||
Key Financial Ratios |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RATIOS \ YEARS | Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | 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 (%) | 42 | 48.3 | 53.8 | 48.1 | 38.9 | 14.1 | 28 | 33.1 | -38 | 333.4 | 368.9 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 46.9 | 54.5 | 51.3 | 41.2 | 17.6 | 3.8 | 8.1 | 6.6 | -2.6 | 12.6 | 12.3 | |
Return on Equity has increased versus last 3 years average to 12.20%
Net Profit has increased 7.72 CAGR in last 3 years
Total Income has declined -40.37 CAGR in last 3 years
Total income growth is poor in last 4 quarters
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.4 | 0.3 |
| TTM Sales (₹ Cr.) | 3.3 | 51.5 |
| BVPS (₹.) ⓘ | 3.2 | 6.8 |
| Reserves (₹ Cr.) ⓘ | 37 | 151 |
| P/BV ⓘ | 2.52 | 1.17 |
| PE ⓘ | 20.39 | 28.47 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 5.46 / 11.34 |
| All Time Low / High (₹) | 0.20 / 39.64 |
| Market Cap (₹ Cr.) | 251 |
| Equity (₹ Cr.) | 62.8 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 81.6 |
| Pledged * | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 |
IL&FS Investment Managers, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS), is one of the oldest and largest private equity fund managers in India, with over $1.9 bn under management.
Established in 1989, IIML has been an early and in many instances, the first investor across various sectors such as Telecom, City Gas Distribution, Shipyards, Retail, and Media. Funds managed by IIML now span General Purpose Private Equity, Real Estate and Infrastructure.
Investors to IIML managed funds include most of the major Indian banks & institutions, and marquee global institutional Investors including major US pension funds, endowments and foundations.
IIML is listed on the National Stock Exchange and the Bombay Stock Exchange.
The origins of IIML date back to 1989 when it was founded as Credit Capital Venture Fund (India) Limited (CCVF), an affiliate of Lazard Brothers. CCVF was the first private sector venture capital company in India, and managed a number of small sector focused funds apart from investing its own proprietary capital.
Infrastructure Leasing & Financial Services Limited (IL&FS) acquired CCVF in 1996, completed an intensive management and financial re-structuring, merged its own private equity business into CCVF and renamed it IL&FS Investment Managers Limited (IIML).
As of March 2008, IL&FS retains management control of IIML with a shareholding of 53%. The remaining ownership resides with IIML directors and employees (7%) and with the public 40%.
The company operates in mainly three verticals:
Achievements
During the course of the last 14 years, IIML raised and managed 9 funds, which invested across the wide spectrum of the Indian economy.
Three of these Funds – AIG India Sectoral Equity Fund (Vintage : 1996), India Project Development Fund (Vintage 2000) and India Auto Ancillary Fund (Vintage 1998) – were fully divested in 2007 - 2008, providing attractive returns for their contributors. This experience across fund cycles is a unique for any Indian private equity fund manager.
Recent developments
IL&FS Investment Managers (IIML) has closed its growth equity fund at $225 million in January 2009. Tara India Fund III originally targeted $400 million, but had been cut in size by nearly half, given the economic downturn.It will provide growth capital to domestic companies across a wide range of sectors. Core target areas are spread across manufacturing, information technology, media, logistics and infrastructure services.
