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Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory
STAKEHOLDERS EMPOWERMENT SERVICES
1 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
MVL Ltd 31st May, 2016 TABLE 1 - MARKET DATA (STANDALONE) (As on 31st May, 2016)
NSE Code - MVL NSE Market Price (₹) 0.35 NSE Market Cap. (₹Cr.) 18.04
Sector - Realty Face Value (₹) 1.00 Equity (₹Cr.) 60.12
52-week High/Low (₹) 0.60/0.15 Net worth (₹Cr.) 170.74
Business Group - Indian Private TTM P/E 1.03 Traded Volume (Shares) 17,048
Year of Incorporation - 2006 TTM P/BV 0.00 Traded Volume (lacs) 0.06
Source - Capitaline
Corporate Office: COMPANY BACKGROUND
1201 B, 12th Floor, MVL Ltd is one of the fastest growing real estate companies in India. The company is
engaged in the developing Group Housing, Townships, Malls, IT Park and Hotel
Projects. The company is operating in Residential, Township, Commercial, Retail and
Hospitality verticals. The company has four wholly owned subsidiary company, namely
MVL Developers Limited, Creative Pools Developers Private Limited, Parisar Property
Developers Private Limited and Udyan Horticultures Private Limited.
MVL Ltd was incorporated on October 18, 2006. The company came into existence as
the de-merged realty arm of Media Video Ltd, a public limited company. The company
was established with the objective of providing a bouquet of real estate solutions.
During the year, the company launched MVL Coral, the first premium housing project at
Bhiwadi.
Hemkunt Chamber, 89 Nehru place,
New Delhi – 110 019, New Delhi
Company Website:
www.mvl.in
TABLE 2 - PRICE PERFORMANCE
30th May,
2016
29th May,
2015
30th May,
2014
% Change CAGR for
2 years 2016 vs 2015 2015 vs 2014
Price (₹) 0.30 0.30 1.35 0.00% -77.78% -52.86%
Trading Volume (Shares) (yearly avg.) 3,52,272 4,93,409 72,499 -28.60% 580.57% -
NSE Market Cap. (in ₹Cr.) 18.04 18.04 81.16 0.00% -77.77% -52.85%
Source - Money Control
Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory
STAKEHOLDERS EMPOWERMENT SERVICES
2 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
TABLE 3 - FINANCIALS
(₹Cr.) 2015 2014 2013 % Change CAGR for 2
years 2015 vs 2014 2014 vs 2013
Net Worth 170.05 169.62 161.4 0.25% 5.09% 2.64%
Current Assets 379.86 335.92 348.62 13.08% -3.64% 4.38%
Non-Current Assets 114.91 111.25 40.14 3.29% 177.15% 69.20%
Total Assets 494.77 447.16 388.76 10.65% 15.02% 12.81%
Investments 133.6 111.92 36.47 19.37% 206.88% 91.40%
Finance Cost 12.56 14.46 5.36 -13.14% 169.78% 53.08%
Long Term Liabilities 87.5 187.11 134.08 -53.24% 39.55% -19.22%
Current Liabilities 237.23 90.44 93.27 162.31% -3.03% 59.48%
Turnover 39.09 70.27 82.44 -44.37% -14.76% -31.14%
Profit After Tax (PAT, ₹Cr.) 0.55 8.21 9.69 -0.93 -0.15 -0.76
EPS (₹) 0.01 0.14 0.16 -0.93 -0.16 -0.76
Source - Money Control/Annual Report
Discussion as per Company:
In Annual Report 2014-2015: “Revenue from operations of the Company for year ended March 31, 2015 was down by 42.39%
to ₹4147.88 Lacs. The decline in turnover reflects volatile market conditions in real estate during the year. Standalone Profit
before Tax increased by 4.45% on a year on year basis from ₹52.81 Lacs to ₹55.16 Lacs. Standalone Profit after Tax was higher
by 20.89% at ₹40.16 Lacs as against ₹33.22 Lacs in the previous year. There was some delay in getting the approvals from
competent authorities and therefore some prominent projects of the Company could not be started on time. However, your
Company will witness a growth oriented year 2015 as many new projects will commence during the year as their statutory
approvals are likely to be obtained within current financial year.”
In Annual Report 2013-2014: “Under review, despite volatile market conditions in real estate, Company recorded a Turnover
of ₹7200.46 lacs and Profit after Tax of ₹821.46 lacs. There was some delay in getting the approvals from competent
authorities and therefore some prominent projects of the Company could not be started on time. However, your Company will
witness a growth oriented year 2014 as many new projects will commenced during the year as their statutory approvals are
obtained. The financial projections of the company including its cash flows were majorly impacted because of this reason
during the year. However, the operating margins of the company have improved because of better amortization of fixed and
variable overheads during the year.”
In Annual Report 2012-2013: “Under review, despite volatile market conditions in real estate, Company recorded a Turnover
of ₹8539.26 lacs and Profit after Tax of ₹75.90 lacs. There was some delay in getting the approvals from competent authorities
and therefore some prominent projects of the Company could not be started on time. However, your Company will witness a
growth oriented year 2013 and many new projects will be added in its project list. Since, during the year under review, the
Company has decided not to pursue its hospitality business activity and focus on its core Real Estate business, the land
acquired for developing a 5-star hotel in Neemrana, Rajasthan shall be utilized for a residential project. The financial results of
the Company for the year include only figures of Real Estate business.”
Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory
STAKEHOLDERS EMPOWERMENT SERVICES
3 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
AUDIT QUALIFICATIONS
Audit Qualifications in last 3 years:
In Annual Report 2014-15
1. “Note No. 37 in respect of non-availability of confirmations in respect of some debit and/or credit balances. In the
absence of such confirmations, any provision to be made for the adverse variation in carrying amounts of these
balances, are not quantified, as well as the quantum of adjustment if any, required to be made remain unascertained.
2. Note No. 38 in respect of non-provision of penal interest on loans declared as NPA. Liability for penal interest payable
has also not been quantified on account of uncertainty and discretionary nature of penal interest, if any payable.
3. Note No. 39 in respect of non-provision of interest with retrospective effect from 01.04.2014 vide Board Resolution
dated 17.02.2015 on loans from banks and financial institutions declared as Non Performing Account (NPA). As a
result of non-provision of said interest of ₹32,39,14,890/- payable on NPA Account as per last agreed terms: -
Revenue from operation has been understated by ₹26,14,60,650/- arising out of percentage of completion (POC)
method of accounting, due to non-capitalization of interest directly attributable to project work-in-progress.
Loss from operation has been understated by ₹6,24,54,240/-on account of non-provision of interest of
₹32,39,14,890/- and short booking of sales by ₹26,14,60,650/.
4. Note No. 40 regarding non provision of advance to an associate company considered doubtful of recovery and non
provision of interest on the said loan.
Management Response: 2014-15
“Point no. 4 of Auditor Report per se is the opinion of the Auditor on certain points of notes to accounts attached to the
financial statement for the period ended 31.03.2015. Since notes to accounts are part of financial statement prepared by the
Company, the Company in the relevant points has explained each situation which has arisen this time. The relevant clauses of
notes to accounts along with Board’s response is as follows: -
i. Note No. 37 regarding non-availability of confirmations in respect of some of the debit and/or credit balances: The
Board is of the view that the company has its own internal audit system to monitor the reconciliations periodically;
hence confirmations of all outstanding balances at the year-end are not taken.
ii. Note No. 38 regarding non-provision of penal interest on loans declared as NPA: The Banks & Financial Institutions
are not providing interest on NPA Loans as per prudential norms of Reserve Bank of India. These loans are under
settlement/restructuring with the Banks/Financial Institutions. Therefore, the Board is of the opinion that interest and
penal interest will be booked after such settlement/ restructuring only. The Board has decided to follow uniform
policy on this matter w.e.f. 1st April, 2014.
iii. Note No. 39 regarding non-provision of interest with retrospective effect from 01.04.2014 vide Board Resolution
dated 17.02.2015 on loans from banks and financial institutions declared as Non Performing Account (NPA): The
Board is of the opinion that as a result of non-provision of said interest of ₹32,39,14,890/- payable on NPA Account as
per last agreed terms: -
a) Revenue from operation has been understated by ₹26,14,60,650/- arising out of percentage of completion
(POC) method of accounting, due to non-capitalization of interest directly attributable to project work-in-
progress.
b) Loss from operation has been understated by ₹6,24,54,240/-on account of non-provision of interest of
₹32,39,14,890/- and short booking of sales by ₹26,14,60,650/-.
iv. Note No. 40 regarding non provision of advance to an associate company considered doubtful of recovery and non
provision of interest on the said loan: The said loan was agreed to be provided to related company during financial
year 2013-14, to clear their urgent liabilities towards Banks/ Financial Institutions. The Board is of the view that the
Company is hopeful for their recovery during the ensuing year, so no provision has been created”
In Annual Report 2013-14
“Note No. 37 regarding non-availability of confirmations in respect of some of the debit and/or credit balances of trade
receivables, trade payable, loans, advances, bank account and deposits. In the absence of such confirmations, any provision to
be made for the adverse variation in carrying amounts of these balances, are not quantified, as well as the quantum of
Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory
STAKEHOLDERS EMPOWERMENT SERVICES
4 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
adjustment if any, required to be made remain unascertained.”
Management Response: 2013-14
“Point no. 6 of Auditor Report per se is the opinion of the Auditor on Note No. 37 regarding non-availability of confirmations in
respect of some of the debit and/or credit balances of trade receivables, trade payable, loans, advances, bank account and
deposits. The Board explains that the company has its own internal audit system to monitor the reconciliations periodically,
hence confirmations of all outstanding balances at the year-end are not taken.”
Company Comment
Frequency of Qualifications The Auditors have given qualified opinion in 2013-14 and 2014-15 last three years.
Have the auditors made any adverse remark in last 3 years? No -
Are the material accounts audited by the Principal Auditors? Yes -
Do the financial statements include material unaudited financial statements?
No -
TABLE 4: BOARD PROFILE (As on 31st March, 2015)
Regulatory Norms Company
% of Independent Directors on the Board 50% 50%
% of Promoter Directors on the Board - 33%
Number of Women Directors on the Board At least 1 1
Classification of Chairman of the Board - Not Disclosed
Is the post of Chairman and MD/CEO held by the same person? - No
Average attendance of Directors in the Board meetings (%) - 80.43%
Source - Money Control/Annual Report
Composition of Board: As per Regulation 17(i)(b) of the Listing Regulations, 2015, the Company should have at least 50%
Independent Directors as the Chairman of the Board not disclosed. The Company as on 31st March, 2015 has 50% of
Independent Directors and hence, it meets the regulatory requirements.
Board Diversity: The Company has 6 directors out of which 5 are male and 1 is female. The Company have a single woman
Director on the Board.
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STAKEHOLDERS EMPOWERMENT SERVICES
5 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
TABLE 5 - FINANCIAL RATIOS
Ratios 2015 2014 2013 % Change
2015 vs 2014 2014 vs 2013
Turn
ove
r
Rat
ios
Inventory Turnover 0.39 0.73 0.89 -46.04% -17.67%
Debtors Turnover 0.16 0.32 0.34 -49.86% -7.80%
Fixed asset Turnover 0.34 0.63 2.05 -46.14% -69.25%
Current Asset Turnover 0.10 0.21 0.24 -50.81% -11.54%
Ret
urn
Rat
ios Operating Profit Margin 1.41% 0.75% 1.25% 86.55% -39.63%
Net Profit Margin 1.41% 11.68% 11.75% -87.96% -0.60%
Return on Assets (ROA) 0.11% 1.84% 2.49% -93.95% -26.34%
Return on Equity (ROE) - - - - -
Return on Capital Employed (ROCE) 4.14% 5.15% 3.46% -19.62% 48.90%
Liq
uid
ity
Rat
ios
Current Ratio 1.60 3.71 3.74 -56.89% -0.63%
Quick Ratio 1.18 2.65 2.74 -55.36% -3.32%
Cash Ratio 0.15 0.20 0.17 -26.33% 16.91%
Working Capital Turnover ratio 0.27 0.29 0.32 -4.26% -11.34%
Solv
en
cy
Rat
ios Debt to equity ratio 1.51 1.36 0.77 10.81% 76.30%
Interest Coverage Ratio 1.04 1.04 1.19 0.69% -13.04%
Trad
ing
Rat
ios
Market Cap / Sales 0.58 0.33 0.28 79.76% 17.32%
Market Cap/ Net Worth 0.13 0.13 0.14 -0.25% -4.85%
Market Cap/PAT 41.55 2.78 2.36 1,392.73% 18.03%
Market Cap/EBITDA 30.99 36.43 20.29 -14.94% 79.51%
Trading Volume (shares) (avg. of 1
year) 5,25,606 3,11,083 72,920 68.96% 326.61%
Trading Volume (shares) (high in 1
year) 41,66,928 35,39,532 18,94,511 17.73% 86.83%
Trading Volume (shares) (low in 1
year) 20.00 25.00 1.00 -20.00% 2,400.00%
Ratio - High/low trading volume 2,08,346.40 1,41,581.28 1,894,511.00 47.16% -92.53%
Ratio - High/average trading volume 7.93 11.38 25.98 -30.32% -56.21%
Source - Money Control
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STAKEHOLDERS EMPOWERMENT SERVICES
6 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
TABLE 6 (A): OWNERSHIP & MANAGEMENT RISKS
Dec' 2015 Dec' 2014 Dec' 2013 Comments
Shar
eho
ldin
g
Promoter shareholding 55.12% 59.47% 58.63% No new equity shares were issued during the
Dec’13 to Dec’15. The promoter shareholding
decreased from 58.63% to 55.12% during
same period. The shareholding of public
others increased from 36.47% to 40.03%
during the same period. The promoters have
pledged 30.89% of their shareholding.
Public - Institutional
shareholding 4.86% 4.90% 4.89%
Public - Others shareholding 40.03% 35.63% 36.47%
Non-Promoter Non Public
Shareholding - - -
TABLE 6 (B): OWNERSHIP & MANAGEMENT RISKS
Market Activity of Promoters The Promoters of the Company bought shares from secondary market in the FY 2014-15.
Preferential issue to promoters No preferential issue of shares was made to the promoters in last three years
Preferential issue to others No preferential issue of shares was made to other shareholders during last three years
GDRs issued by the Company The Company did not issue and GDRs during last three years
Issue of ESOPs/Issue of shares
other than Preferential allotment The Company does not have any ESOP Scheme
Source - Annual Report
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7 | P A G E
SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
Glossary
Equity: The equity shares capital of the Company
Net Worth: The amount by which the Assets exceeds the liabilities excluding shareholders’ funds of the Company
Turnover: The revenue earned from the operations of the Company
EPS: Earning Per Share is net profit earned by the Company per share
𝐸𝑃𝑆 =Profit After Tax
Number of outstanding shares
P/E ratio: It is the ratio of the Company’s share price to earnings per share of the Company
𝑃/𝐸 𝑟𝑎𝑡𝑖𝑜 =Price of each share
Earnings per share
Current Assets: Cash and other assets that are expected to be converted to cash in one year
Fixed Assets: assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land,
buildings, and equipment
Total Assets: Current Assets + Fixed Assets
Investments: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the
future.
Finance Cost: The Financing Cost (FC), also known as the Cost of Finances (COF), is the cost and interest and other charges
incurred during the year in relation to borrowed money.
Long Term Liabilities: Long-term liabilities are liabilities with a maturity period of over one year.
Current Liabilities: A company's debts or obligations that are due within one year.
Inventory Turnover ratio: Inventory Turnover is a ratio showing how many times a company's inventory is sold and replaced over
a period.
𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover
Inventory
Debtors Turnover: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a business
can turn its accounts receivable into cash during a period
𝐷𝑒𝑏𝑡𝑜𝑟𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover
Accounts recievables
Fixed Asset Turnover: The fixed-asset turnover ratio is a financial ratio of net sales to fixed assets
𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover
Fixed Assets
Current Asset Turnover: The current-asset turnover ratio is a financial ratio of net sales to fixed assets
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover
Current Assets
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SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
MVL LTD. www.mvl.in
Operating Profit Margin: Operating margin is a measurement of what proportion of a Company’s revenue is left over after
paying for variable costs of production such as wages, raw materials etc. It can be calculated by dividing a Company’s operating
income (also known as “operating profit”) during a given period by its sales during the same period.
𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Operating profit
Sales Turnover
Net Profit Margin: Net profit margin is the percentage of revenue left after all expenses have been deducted from sales
𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Net profit
Sales Turnover
Return on Assets: ROA tells you what earnings were generated from invested capital (assets)
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 =Net profit
Total Assets
Return on equity/net worth: return on equity (ROE) is the amount of net income returned as a percentage of shareholders’
equity.
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 =Net profit
Net worth
Return on Capital Employed: Return on capital employed (ROCE) is a financial ratio that measures a company's profitability
and the efficiency with which its capital is employed.
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑑 =Net profit
Total Debt + Equity share capital
Current ratio: The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts
over the next 12 months. It compares a firm's current assets to its current liabilities.
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑟𝑎𝑡𝑖𝑜 =Current Assets
Current Liabilities
Quick ratio: The quick ratio is a measure of how well a Company can meet its short term financial liabilities.
𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories
Current Liabilities
Cash ratio: The ratio of the liquid assets of a Company to its current liabilities.
𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories − Account Recievables
Current Liabilities
Working Capital Turnover ratio: The working capital turnover ratio is also referred to as net sales to working capital. It indicates a
Company's effectiveness in using its working capital.
𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
Current Assets − Current Liabilities
Debt to Equity ratio: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of
shareholders' equity and debt used to finance a company's assets.
𝐷𝑒𝑏𝑡 𝑡𝑜 𝐸𝑞𝑢𝑖𝑡𝑦 𝑟𝑎𝑡𝑖𝑜 =𝑆ℎ𝑜𝑟𝑡 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 + 𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡
𝑁𝑒𝑡 𝑊𝑜𝑟𝑡ℎ
Interest Coverage ratio: The Interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a
Company can pay interest on outstanding debt.
𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐶𝑜𝑣𝑒𝑟𝑎𝑔𝑒 𝑅𝑎𝑡𝑖𝑜 =𝐸𝑎𝑟𝑛𝑖𝑛𝑔 𝐵𝑒𝑓𝑜𝑟𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑇𝑎𝑥
𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝐶𝑜𝑠𝑡
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Market Cap/Sales ratio: Market Cap/sales ratio, Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is calculated
by dividing the company's market cap by the revenue in the most recent year; or, equivalently, divide the per-share stock price by
the per-share revenue.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑆𝑎𝑙𝑒𝑠 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝
𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
Market Cap/ Net Worth ratio: It is a valuation ratio calculated by dividing Company’s market cap to net worth.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝
𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ
Market Cap/ PAT ratio: It is a valuation ratio calculated by dividing Company’s market cap to net profit.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑃𝐴𝑇 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝
𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡
Market Cap/ EBITDA ratio: It is a valuation ratio calculated by dividing Company’s market cap to EBITDA.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝐸𝐵𝐼𝑇𝐷𝐴 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝
𝐸𝐵𝐼𝑇𝐷𝐴
Trading Volume (shares) (avg. of 1 year): Average number of shares/day traded in 1 year
Trading volume (shares) (high in 1 year): Highest number of shares/day traded in 1 year
Trading volume (shares) (minimum in 1 year): Lowest number of shares traded on any one day in 1 year
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SECTOR: REALTY REPORTING DATE: 31ST MAY, 2016
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