Price
Financials
Standalone, Rs crore| Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 369 | 407 | 409 | 368 | 451 | 482 | 576 | 646 | 612 | 760 | 814 | 851 |
| Expenses | 137 | 143 | 144 | 476 | 180 | 156 | 181 | 238 | 227 | 244 | 224 | 243 |
| Operating Profit | 232 | 264 | 265 | -108 | 272 | 325 | 395 | 408 | 385 | 516 | 590 | 608 |
| OPM % | 63% | 65% | 65% | -29% | 60% | 68% | 69% | 63% | 63% | 68% | 72% | 71% |
| Other Income | 45 | 42 | 46 | 41 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Interest | 136 | 158 | 164 | 165 | 176 | 179 | 183 | 189 | 199 | 205 | 204 | 181 |
| Depreciation | 2 | 3 | 3 | 4 | 3 | 3 | 4 | 4 | 3 | 4 | 5 | 6 |
| Profit before tax | 139 | 146 | 143 | -235 | 93 | 143 | 209 | 215 | 183 | 308 | 381 | 421 |
| Tax % | -70% | 0% | 0% | 0% | 48% | 6% | 8% | 1% | 22% | 24% | 24% | 24% |
| Net Profit | 236 | 146 | 143 | -235 | 48 | 135 | 193 | 213 | 142 | 233 | 288 | 321 |
| EPS in Rs | 18.50 | 10.60 | 10.36 | -17.02 | 3.49 | 9.74 | 13.88 | 15.32 | 10.19 | 16.63 | 20.57 | 22.91 |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 169 | 553 | 955 | 1,262 | 472 | 352 | 545 | 802 | 1,320 | 1,728 | 2,101 | 3,037 |
| Expenses | 80 | 225 | 390 | 733 | 1,586 | 500 | 257 | 326 | 434 | 900 | 924 | 938 |
| Operating Profit | 90 | 328 | 565 | 529 | -1,114 | -148 | 288 | 477 | 886 | 828 | 1,177 | 2,098 |
| OPM % | 53% | 59% | 59% | 42% | -236% | -42% | 53% | 59% | 67% | 48% | 56% | 69% |
| Other Income | 1 | 1 | 3 | 8 | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 0 |
| Interest | 56 | 194 | 288 | 350 | 200 | 143 | 214 | 279 | 485 | 622 | 710 | 789 |
| Depreciation | 5 | 11 | 13 | 16 | 10 | 6 | 4 | 5 | 8 | 13 | 13 | 18 |
| Profit before tax | 29 | 124 | 268 | 171 | -1,324 | -297 | 70 | 194 | 394 | 193 | 455 | 1,292 |
| Tax % | 43% | 35% | 35% | 35% | 3% | 0% | 0% | 3% | 23% | -50% | -0% | |
| Net Profit | 17 | 80 | 174 | 112 | -1,361 | -297 | 70 | 188 | 303 | 290 | 455 | 985 |
| EPS in Rs | 15.44 | -187.93 | -27.46 | 6.46 | 14.86 | 23.80 | 20.99 | 32.70 | 70.30 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 29% | 43% | 38% | 41% | ||
| Compounded Profit Growth | 39% | 29% | 34% | 67% | ||
| Stock Price CAGR | 0% | % | % | % | ||
| Return on Equity | 0% | 19% | 18% | 17% |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44 | 48 | 65 | 72 | 72 | 108 | 108 | 126 | 127 | 138 | 139 | 140 |
| Reserves | 168 | 608 | 894 | 1,708 | 362 | 282 | 351 | 920 | 1,256 | 2,309 | 2,859 | 4,084 |
| Borrowings | 790 | 2,146 | 2,695 | 2,235 | 1,021 | 1,618 | 1,531 | 3,280 | 5,130 | 7,125 | 7,617 | 4,778 |
| Other Liabilities | 87 | 237 | 403 | 310 | 266 | 503 | 507 | 372 | 641 | 846 | 915 | 1,226 |
| Total Liabilities | 1,089 | 3,039 | 4,055 | 4,326 | 1,722 | 2,511 | 2,497 | 4,699 | 7,154 | 10,418 | 11,531 | 10,229 |
| Fixed Assets | 14 | 18 | 23 | 28 | 20 | 11 | 10 | 9 | 15 | 22 | 22 | 31 |
| CWIP | 1 | 1 | 2 | 3 | 0 | 0 | 2 | 1 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1,074 | 3,020 | 4,031 | 4,292 | 1,701 | 2,500 | 2,486 | 4,688 | 7,137 | 10,395 | 11,509 | 10,198 |
| Total Assets | 1,089 | 3,039 | 4,055 | 4,326 | 1,722 | 2,511 | 2,497 | 4,699 | 7,154 | 10,418 | 11,531 | 10,229 |
| Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -192 | -432 | -277 | -1,226 | ||||||||
| Cash from Investing Activity | -4 | -25 | -230 | 14 | ||||||||
| Cash from Financing Activity | 233 | 665 | 1,564 | 671 | ||||||||
| Net Cash Flow | 38 | 208 | 1,057 | -541 | ||||||||
| Free Cash Flow | -194 | -446 | -292 | -1,244 | ||||||||
| CFO/OP | -1,038% | -466% | -70% | -200% |
| Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 |
| Working Capital Days | 2,081 | 1,536 | 813 | 1,008 | 959 | 376 | 1,121 | 847 | 1,102 | 1,152 | 1,165 | 1,250 |
| ROCE % | 9% | 13% | 17% | 17% | 14% | -41% | -9% | 14% | 15% | 16% | 10% | 12% |
| Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 1.75% | 1.66% | 1.66% | 1.66% | 1.65% | 1.65% | 1.64% | 1.59% | 1.58% | 1.58% | 1.58% | 1.58% |
| FIIs | 74.49% | 70.22% | 64.97% | 68.33% | 68.83% | 60.71% | 59.02% | 55.52% | 53.67% | 60.18% | 61.25% | 60.27% |
| DIIs | 9.10% | 10.23% | 13.89% | 14.18% | 16.84% | 23.98% | 26.36% | 29.97% | 32.14% | 27.61% | 26.18% | 24.73% |
| Public | 14.65% | 17.88% | 19.46% | 15.82% | 12.67% | 13.65% | 12.96% | 12.91% | 12.60% | 10.62% | 10.99% | 13.42% |
| Others | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.00% | 0.00% |
| No. of Shareholders | 53,706 | 65,024 | 63,615 | 66,236 | 46,007 | 42,817 | 37,609 | 38,397 | 37,754 | 37,572 | 34,186 | 34,575 |
Fundamentals
Market Cap₹ 12,594 Cr.
Current Price₹ 898
Stock P/E12.8
Book Value₹ 301
ROCE11.5 %
ROE16.7 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)41%
Compounded Profit Growth (TTM)67%
Standalone figures.
Valuation
Market capRs 12,511 Cr
Enterprise valueRs 18,081 Cr
P/E (TTM)12.71x
Price to book4.17x
Price to sales4.12x
EV / EBITDA8.62x
EV / EBIT8.69x
EV / sales5.95x
Earnings yield7.87%
P/E, 3-year average31.66x
P/B, 3-year average4.89x
P/E, 5-year average31.48x
P/B, 5-year average5.00x
Profitability
Operating margin (excl. other income)56.04%
Operating margin (incl. other income)56.09%
EBITDA margin69.11%
Pre-tax margin42.55%
Net profit margin32.42%
Net margin, latest quarter37.74%
ROE16.73%
ROCE11.54%
ROA4.15%
ROE, 3-year average18.93%
ROCE, 3-year average12.63%
ROA, 3-year average4.19%
ROE, 5-year average19.63%
ROCE, 5-year average13.41%
ROA, 5-year average4.11%
ROIC (approx.)24.32%
Tax rate-0.15%
Other income / net worth0.04%
Growth
Sales growth (latest year)21.61%
Profit growth (latest year)57.23%
Sales CAGR, 3 years37.83%
Sales CAGR, 5 years42.95%
Profit CAGR, 3 years34.39%
Sales growth QoQ4.58%
Profit growth QoQ11.36%
Sales growth YoY (latest quarter)31.70%
Profit growth YoY (latest quarter)50.49%
Per share
EPS (TTM)Rs 70.67
EPS (latest year)Rs 32.69
EPS (latest quarter)Rs 23.05
EPS, 3-year averageRs 25.83
EPS, 5-year averageRs 19.76
Book value per shareRs 215.24
Sales per shareRs 217.96
Free cash flow per shareRs -89.29
Efficiency
Asset turnover0.18x
Fixed asset turnover96.64x
Debtor days2 days
Debtors turnover184.78x
Cash conversion cycle2 days
Working capital days1250 days
Leverage
Total debtRs 7,617 Cr
Cash and bankRs 2,046 Cr
Net debtRs 5,570 Cr
Debt to equity2.54x
Net debt / EBITDA2.65x
Interest coverage2.64x
Owners' fund to total sources26.01%
Debt to assets66.06%
Cash flow
Free cash flow (latest year)Rs -1,244 Cr
FCFE (approx.: FCF + change in debt)Rs -752 Cr
Statement figures
Net sales (TTM)Rs 3,037 Cr
Net sales (latest year)Rs 2,101 Cr
Sales (latest quarter)Rs 851 Cr
Operating profit excl. other income (latest year)Rs 1,177 Cr
Operating profit (latest quarter)Rs 608 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 2,099 Cr
PBDT (TTM)Rs 1,310 Cr
Profit before tax (TTM)Rs 1,292 Cr
Tax (latest year)Rs -1 Cr
Net profit (TTM)Rs 985 Cr
Net profit (latest year)Rs 455 Cr
Net profit (latest quarter)Rs 321 Cr
Depreciation (TTM)Rs 18 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 789 Cr
Cost of goods sold (latest year)Rs 22 Cr
Total expenditure (latest year)Rs 924 Cr
Total income (latest year)Rs 2,102 Cr
Share capitalRs 139 Cr
ReservesRs 2,859 Cr
Shareholders' fundsRs 2,999 Cr
Total assetsRs 11,531 Cr
Net blockRs 22 Cr
InvestmentsRs 0 Cr
ReceivablesRs 11 Cr
Other liabilitiesRs 915 Cr
Shares outstanding (crore)13.93
Ownership
Promoter holding1.58% (-0.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 12.7 is at the 3th percentile of its own 2.8-year range
(median 33.8, low 12.6, high 161.1).
P/B 4.17 is at the 9th percentile (median 5.40).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | BHARATFIN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.4% | -2.8% | +0.3 pts |
| 1 month | -10.3% | -6.8% | -3.5 pts |
| 3 months | -21.0% | -7.6% | -13.4 pts |
| 6 months | -10.2% | +0.4% | -10.6 pts |
| 1 year | -24.1% | -9.9% | -14.2 pts |
| 2 years | +24.5% | -13.6% | +38.1 pts |
| 3 years | +22.2% | +14.2% | +8.0 pts |
| 5 years | +220.0% | +27.9% | +192.1 pts |
Red flags
F-score 6 of 6No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2019Sales ₹851 Cr +31.7% vs Mar 2018.
Net profit ₹321 Cr +50.7%.
Activity
CompareNo listed peers in this industry.
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2018-07-18 | Annual General Meeting | |
| 2017-06-29 | Annual General Meeting | |
| 2016-07-14 | Annual General Meeting | |
| 2015-09-14 | Annual General Meeting | |
| 2014-09-18 | Annual General Meeting | |
| 2013-11-27 | Annual General Meeting | |
| 2012-08-01 | Annual General Meeting | |
| 2011-07-13 | Annual General Meeting |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Bharat Financial Inclusion Ltd(Merged))?
Bharat Financial Inclusion Ltd(Merged)) (BHARATFIN) has a market capitalisation of Rs 12,594 Cr. at the 2019-07-02 close.
What is the P/E ratio of Bharat Financial Inclusion Ltd(Merged))?
Bharat Financial Inclusion Ltd(Merged)) trades at a P/E of 12.8 on trailing twelve-month profit, at the 2019-07-02 close.
What were Bharat Financial Inclusion Ltd(Merged))'s latest quarterly results?
In the Mar 2019 quarter, Bharat Financial Inclusion Ltd(Merged)) sales was Rs 851 Cr (+31.7% vs Mar 2018) and net profit was Rs 321 Cr.