BSE: 523019 | NSE: | Finance - Stock Broking | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that BN Rathi Securities Ltd is a good quality company.
The key valuation ratios of BN Rathi Securities Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of BN Rathi Securities 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 25.7% | 20.7% | 21.6% | 19.3% | 11.8% | 15.9% | 24.9% | 23.7% | 32.4% | 29.8% | - |
| Value Creation Index ⓘ | 0.8 | 0.5 | 0.5 | 0.4 | -0.2 | 0.1 | 0.8 | 0.7 | 1.3 | 1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 12.3 | 14.5 | 19.4 | 22.2 | 20.9 | 23 | 29.1 | 38 | 40.3 | 46.8 | 44 |
| Sales YoY Gr. | - | 17.3% | 34.1% | 14.5% | -6% | 10.2% | 26.5% | 30.6% | 6.2% | 16.2% | - |
| Adj EPS ⓘ | 3.5 | 2 | 3 | 3.2 | 1.8 | 2.7 | 5.3 | 5.6 | 8.9 | 9.9 | 11.8 |
| YoY Gr. | - | -43.6% | 51.8% | 7.1% | -44.2% | 50.9% | 97.8% | 5.3% | 59.9% | 11.4% | - |
| BVPS (₹) ⓘ | 22.7 | 21.4 | 24.4 | 26.6 | 27.3 | 27.7 | 33.1 | 39.4 | 47.4 | 57.1 | 61.8 |
| Adj Net Profit ⓘ | 1.5 | 1.3 | 1.9 | 2.1 | 1.2 | 1.8 | 3.5 | 4.7 | 7.5 | 10.2 | 12 |
| Cash Flow from Ops. ⓘ | 4.7 | 0.4 | -4.3 | 7.8 | -3.2 | 17.2 | 33.8 | 40.9 | -4.4 | 4 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 0.7 | -0 | 0 | 0 | 0 | 0.2 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16% | 17.6% | 17.2% | 16.2% | ||||
| Adj EPS ⓘ | 12.4% | 41.1% | 23.3% | 11.4% | ||||
| BVPSⓘ | 10.8% | 15.9% | 20% | 20.5% | ||||
| Share Price | 27.6% | 66.6% | 87.3% | 101.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 16.1 | 10.8 | 12.9 | 12.5 | 6.6 | 9.7 | 17.4 | 17.1 | 20.5 | 20.6 | 19.8 |
| Op. Profit Mgn % ⓘ | 9.8 | 5.8 | 8.7 | 8.5 | 2.5 | 2.3 | 9.7 | 8.9 | 16.2 | 12.5 | 16.3 |
| Net Profit Mgn % ⓘ | 12 | 8.8 | 10 | 9.4 | 5.6 | 7.6 | 11.9 | 12.3 | 18.5 | 21.7 | 27.9 |
| Debt to Equity ⓘ | 0.1 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 397 | 410 | 422 | 438 | 499 | 397 | 338 | 247 | 214 | 365 | 591 |
| Cash Conv. Cycle ⓘ | -465 | -424 | -338 | -367 | -452 | -488 | -800 | -963 | -1,134 | -1,069 | -83 |
Return on Equity has increased versus last 3 years average to 19.80%
Sales growth is growing at healthy rate in last 3 years 17.22%
Net Profit is growing at healthy rate in last 3 years 23.31%
Sales growth is good in last 4 quarters at 23.18%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.8 | 12.3 |
| TTM Sales (₹ Cr.) | 43.9 | 44.3 |
| BVPS (₹.) ⓘ | 61.8 | 66.6 |
| Reserves (₹ Cr.) ⓘ | 54 | 59 |
| P/BV ⓘ | 3.08 | 2.86 |
| PE ⓘ | 16.13 | 15.50 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 86.28 / 211.00 |
| All Time Low / High (₹) | 0.06 / 211.00 |
| Market Cap (₹ Cr.) | 197 |
| Equity (₹ Cr.) | 10.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 24 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 14 | 16 | 21 | 24 | 23 | 26 | 32 | 42 | 46 | 56 |
| Interest Income | 12 | 14 | 19 | 22 | 21 | 23 | 29 | 38 | 40 | 47 |
| Other Income ⓘ | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 6 | 9 |
| Expenditure ⓘ | 12 | 15 | 18 | 21 | 21 | 23 | 27 | 36 | 36 | 43 |
| Interest Expense ⓘ | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 1 |
| Operating Expenses ⓘ | 11 | 14 | 18 | 20 | 20 | 23 | 26 | 35 | 34 | 41 |
| Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 2 | 3 | 3 | 2 | 2 | 5 | 6 | 10 | 14 |
| Taxes ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 |
| Profit After Tax | 1 | 1 | 2 | 2 | 1 | 2 | 3 | 5 | 7 | 10 |
| Adjusted EPS (₹) | 3.5 | 2.0 | 3.0 | 3.2 | 1.8 | 2.7 | 5.3 | 5.6 | 8.9 | 9.9 |
| Dividend Payout Ratio (%) | 26% | 32% | 26% | 29% | 44% | 29% | 18% | 18% | 17% | 15% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 10 | 14 | 16 | 17 | 18 | 18 | 22 | 33 | 40 | 59 |
| Share Capital ⓘ | 3 | 5 | 5 | 5 | 5 | 5 | 5 | 8 | 8 | 10 |
| Reserves ⓘ | 7 | 9 | 11 | 12 | 13 | 13 | 17 | 25 | 31 | 48 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 0 | 0 |
| Current Liabilities | 19 | 23 | 25 | 33 | 33 | 40 | 92 | 110 | 114 | 145 |
| Trade Payables | 16 | 21 | 23 | 31 | 31 | 38 | 84 | 108 | 111 | 140 |
| Short term borrowings | 1 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 0 |
| Other Liabilities | -17 | -21 | -23 | -31 | -31 | -38 | -89 | -108 | -111 | -140 |
| Total Liabilities ⓘ | 29 | 37 | 41 | 50 | 51 | 59 | 116 | 145 | 154 | 203 |
Assets | ||||||||||
| Non Current Asset | 5 | 4 | 3 | 3 | 3 | 3 | 6 | 7 | 6 | 6 |
| Loan Asset | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non Current Asset ⓘ | 5 | 4 | 3 | 3 | 3 | 3 | 6 | 7 | 6 | 6 |
| Current Asset | 24 | 33 | 38 | 47 | 48 | 56 | 110 | 138 | 148 | 197 |
| Current Investment | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Asset | 24 | 33 | 38 | 46 | 47 | 56 | 109 | 138 | 148 | 197 |
| Total Assets ⓘ | 29 | 37 | 41 | 50 | 51 | 59 | 116 | 145 | 154 | 203 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 6 | 3 | 4 | 4 | 2 | 3 | 7 | 6 | 9 | 10 |
| DPS (₹) | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| BVPS (₹) | 38 | 28 | 32 | 34 | 35 | 36 | 43 | 39 | 47 | 57 |
Performance Ratios | ||||||||||
| ROA (%) | 5.8 | 3.9 | 5.0 | 4.5 | 2.3 | 3.2 | 4.0 | 3.6 | 5.0 | 5.7 |
| ROE (%) | 16.1 | 10.8 | 12.9 | 12.5 | 6.6 | 9.7 | 17.4 | 17.1 | 20.5 | 20.6 |
| ROCE (%) | 25.7 | 20.7 | 21.6 | 19.3 | 11.8 | 15.9 | 24.9 | 23.7 | 32.4 | 29.8 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.7 | 0.6 | 0.8 | 1.1 | 0.7 | 0.3 | 0.6 | 0.9 | 0.7 | 1.8 |
B.N.Rathi Securities is a public listed stock broking firm providing integrated type of services, encompassing the entire spectrum of activities relating to the Financial Market Transactions. The company has been promoted by the Rathi family and is engaged in all spheres of Stock Broking, which enables the company to cater to a full range of requirements of a growing and diversified retail and institutional clientele.
B. N. Rathi Securities offers a full range of investment services and capital market financial services focused on growth companies. In-depth technical expertise, commitment to excellence, high ethical standards and a focused approach has been the cornerstone of consistent track record of delivering significant benefits to clients.
BNR Group has been into the financial markets for over five decades and this vast experience is put to use for providing the best services in today’s complex financial markets. their pedigree lineage, through our parent BNR Group enables us with the expertise to offer the following range of services.
Well-researched and comprehensive stock broking services on NSE, BSE and HSE. Operations managed by experienced professionals:-
As a depository participant with Central Depository Services Limited, it has more than 2000 accounts. With an adequate infrastructure, quality manpower, growing clientele and a sound professional reputation BNRSL is poised to capitalize on the existing and emerging opportunities as and when they rise.
BNRSL’s well diversified clientele represent a wide gamut of the investors community, which stand as testimony towards our commitment for providing prompt, reliable and innovative services to their clients and has encouraged us to redouble our efforts towards servicing their clients, through operational strategies, in an increasingly complex financial arena.
They are registered with Life Insurance Corporation of India Ltd. and UTI Bank Ltd. for their secondary market operations.
BNRSL has always been a technology driven company and a strong technology focus has ensured that the company is equipped with sophisticated ultra modern information technology. They have net work communication system and connected to all branches/sub-brokers with the latest technology of HCL VSATs, which has emerged as the company’s forte and enabled us to give the best services to its valuable clientele.
Services offered by the company:
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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