MarketFriction

Capital First Ltd(Merged)

NSE CAPF · BSE 532938 · Other Financial Services
₹587.20 -0.89%
NSE close2018-12-27
Market cap₹5,818 Cr.
P/E15.0
Merged or delisted Delivery 75.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018
Sales4965586166827267497577829881,0941,0451,197
Expenses192232268305331363358409499560436525
Operating Profit304327348377395386399372488534609672
OPM %61%58%57%55%54%52%53%48%49%49%58%56%
Other Income10691071214811106
Interest235252276296308280309328357393453508
Depreciation3335456769612
Profit before tax68717584931089651134143159158
Tax %34%34%35%32%34%34%32%41%35%33%36%34%
Net Profit45484958617165308795102105
EPS in Rs4.885.215.386.246.307.276.693.098.799.6210.2510.55
Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018TTM
Sales981802363607408071,0611,4421,8892,8003,8124,324
Expenses114173971241882793504807291,2651,9082,021
Operating Profit-1671402355525287119621,1601,5351,9042,303
OPM %-16%3.6%59%65%75%65%67%67%61%55%50%53%
Other Income171342334-01-2-2-035
Interest835811893984836477888971,1611,3821,710
Depreciation471245661010172834
Profit before tax-26-2860841527358165251356493594
Tax %8%14%2%41%30%14%10%31%34%33%34%
Net Profit-28-3259491066353114166239327388
EPS in Rs-4.55-5.069.337.5816.338.896.3712.5618.2224.5333.0739.21
Dividend Payout %0%0%11%20%9%20%31%18%13%11%8%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth44%36%38%43%
Compounded Profit Growth30%43%42%71%
Stock Price CAGR-2%%%%
Return on Equity9%11%12%13%
Mar 2007Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Equity Capital446364646564708291919799
Reserves516526046286837678901,0901,4831,6122,2062,519
Borrowings552084731,1752,3714,3866,2308,4228,43711,95514,10821,702
Other Liabilities28180841155214733445386718671,2431,848
Total Liabilities1791,1031,2251,9813,6405,6927,53510,13210,68214,52517,65526,168
Fixed Assets87150104892037393419296583
CWIP1100030000012
Investments545025473093303331347194184259332
Other Assets374495741,5833,2905,3187,4959,75110,46914,31217,33225,740
Total Assets1791,1031,2251,9813,6405,6927,53510,13210,68214,52517,65526,168
Mar 2007Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Cash from Operating Activity
Cash from Investing Activity
Cash from Financing Activity
Net Cash Flow
Free Cash Flow
CFO/OP
Mar 2007Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Debtor Days13915430611771833586
Inventory Days
Days Payable
Cash Conversion Cycle13915430611771833586
Working Capital Days588249802,209527768829707514730661654
ROCE %-3%1%10%11%13%9%8%10%10%10%9%
Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018
Promoters65.11%64.42%61.09%61.06%36.00%35.97%35.58%35.55%35.53%35.52%
FIIs7.54%7.27%6.51%8.42%25.69%24.31%24.00%19.55%19.55%19.92%
DIIs7.57%6.50%5.78%6.24%10.90%13.14%12.35%15.53%12.74%10.51%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.03%0.00%0.00%
Public19.79%21.81%26.62%24.28%27.41%26.59%28.04%29.33%32.18%34.04%
No. of Shareholders1,16,8911,20,5131,23,7021,20,6391,24,4941,25,5331,29,7181,35,7241,40,4301,39,594

Fundamentals

Market Cap₹ 5,818 Cr.
Current Price₹ 587
Stock P/E15.0
Book Value₹ 295
ROCE9.21 %
ROE13.3 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)43%
Compounded Profit Growth (TTM)71%
Consolidated figures.
Valuation
Market capRs 5,811 Cr
Enterprise valueRs 26,086 Cr
P/E (TTM)14.96x
Price to book2.22x
Price to sales1.34x
EV / EBITDA11.16x
EV / EBIT11.32x
EV / sales6.03x
Earnings yield6.68%
Dividend yield0.48%
P/E, 3-year average24.74x
P/B, 3-year average2.65x
P/E, 5-year average26.82x
P/B, 5-year average2.30x
Profitability
Operating margin (excl. other income)49.95%
Operating margin (incl. other income)49.94%
EBITDA margin54.07%
Pre-tax margin13.73%
Net profit margin8.98%
Net margin, latest quarter8.74%
ROE13.31%
ROCE9.21%
ROA1.49%
ROE, 3-year average11.79%
ROCE, 3-year average9.67%
ROA, 3-year average1.43%
ROE, 5-year average9.73%
ROCE, 5-year average9.43%
ROA, 5-year average1.20%
ROIC (approx.)6.68%
Tax rate33.59%
Other income / net worth-0.02%
Growth
Sales growth (latest year)36.11%
Profit growth (latest year)37.05%
Sales CAGR, 3 years38.27%
Sales CAGR, 5 years36.40%
Profit CAGR, 3 years42.03%
Profit CAGR, 5 years39.00%
Sales growth QoQ14.51%
Profit growth QoQ3.03%
Sales growth YoY (latest quarter)53.11%
Profit growth YoY (latest quarter)246.47%
Per share
EPS (TTM)Rs 39.24
EPS (latest year)Rs 33.09
EPS (latest quarter)Rs 10.57
EPS, 3-year averageRs 25.28
EPS, 5-year averageRs 18.95
Book value per shareRs 264.49
Sales per shareRs 436.93
Dividend per share (latest year)Rs 2.80
Dividend per share, 3-year averageRs 2.60
Dividend per share, 5-year averageRs 2.40
Dividends
Dividend payout8.46%
Dividend payout, 3-year average10.75%
Dividend payout, 5-year average16.18%
Efficiency
Asset turnover0.15x
Fixed asset turnover45.88x
Debtor days6 days
Debtors turnover56.58x
Cash conversion cycle6 days
Working capital days654 days
Leverage
Total debtRs 21,702 Cr
Cash and bankRs 1,426 Cr
Net debtRs 20,275 Cr
Debt to equity8.29x
Net debt / EBITDA8.67x
Interest coverage1.35x
Owners' fund to total sources10.00%
Debt to assets82.93%
Statement figures
Net sales (TTM)Rs 4,324 Cr
Net sales (latest year)Rs 3,812 Cr
Sales (latest quarter)Rs 1,197 Cr
Operating profit excl. other income (latest year)Rs 1,904 Cr
Operating profit (latest quarter)Rs 672 Cr
Other income (TTM)Rs 35 Cr
EBITDA (TTM)Rs 2,338 Cr
PBDT (TTM)Rs 628 Cr
Profit before tax (TTM)Rs 594 Cr
Tax (latest year)Rs 166 Cr
Net profit (TTM)Rs 388 Cr
Net profit (latest year)Rs 327 Cr
Net profit (latest quarter)Rs 105 Cr
Depreciation (TTM)Rs 34 Cr
Depreciation (latest quarter)Rs 12 Cr
Interest (TTM)Rs 1,710 Cr
Cost of goods sold (latest year)Rs 77 Cr
Total expenditure (latest year)Rs 1,908 Cr
Total income (latest year)Rs 3,811 Cr
Share capitalRs 99 Cr
ReservesRs 2,519 Cr
Shareholders' fundsRs 2,618 Cr
Total assetsRs 26,168 Cr
Net blockRs 83 Cr
Capital work in progressRs 12 Cr
InvestmentsRs 332 Cr
ReceivablesRs 67 Cr
Other liabilitiesRs 1,848 Cr
Shares outstanding (crore)9.90
Ownership
Promoter holding35.52% (-0.45 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 15.0 is at the 7th percentile of its own 2.2-year range (median 28.5, low 13.4, high 46.6).
P/B 2.22 is at the 19th percentile (median 3.01).
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.
PeriodCAPFNifty 50Difference
1 week-0.7%-2.8% +2.1 pts
1 month+8.3%-6.8% +15.1 pts
3 months+12.5%-7.6% +20.1 pts
6 months+4.0%+0.4% +3.6 pts
1 year-15.1%-9.9% -5.2 pts
2 years+11.5%-13.6% +25.0 pts
3 years+41.8%+14.2% +27.6 pts
5 years+283.9%+27.9% +256.0 pts

Red flags

F-score 1 of 6
explainLow interest cover Interest cover 1.4x in 2018
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

Sep 2018
Sales ₹1,197 Cr +53.1% vs Sep 2017. Net profit ₹105 Cr +250.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2018-06-26 Annual General Meeting/Dividend- Rs 2.80 Per Share
2017-06-27 Annual General Meeting/Dividend - Rs 2.60 Per Share
2016-06-27 Annual General Meeting/ Dividend - Rs 2.40/- Per Share
2015-07-10Annual General Meeting/ Dividend - Rs 2.20/- Per Share
2014-06-05Annual General Meeting And Dividend Rs.2 Per Share
2013-08-14Annual General Meeting And Dividend Rs.1.80 Per Share
2012-09-06Annual General Meeting And Dividend Rs.1.50 Per Share
2011-08-04Annual General Meeting And Dividend Rs.1.50 Per Share
2010-07-29Annual General Meeting And Dividend Re.1/- Per Share
2009-07-27Annual Book Closure
2008-08-06Annual Book Closure
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 Capital First Ltd(Merged)?

Capital First Ltd(Merged) (CAPF) has a market capitalisation of Rs 5,818 Cr. at the 2018-12-27 close.

What is the P/E ratio of Capital First Ltd(Merged)?

Capital First Ltd(Merged) trades at a P/E of 15.0 on trailing twelve-month profit, at the 2018-12-27 close.

What were Capital First Ltd(Merged)'s latest quarterly results?

In the Sep 2018 quarter, Capital First Ltd(Merged) sales was Rs 1,197 Cr (+53.1% vs Sep 2017) and net profit was Rs 105 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03