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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Bank stocks drop amid reports of under-reporting of bad loans
May 29,2017

Meanwhile, the S&P BSE Sensex was up 63.87 points or 0.21% at 31,092.08. The S&P BSE Bankex was down 150.47 points or 0.57% at 26,344.77.

Among public sector bank stocks, State Bank of India (SBI) (down 0.81%), Canara Bank (down 1.49%), Union Bank of India (down 3.01%), UCO Bank (down 7.35%), Bank of India (down 2.25%), Punjab National Bank (down 2.22%) Syndicate Bank (down 2.35%), Indian Overseas Bank (down 1.74%), Bank of Baroda (down 1.64%), Andhra Bank (down 1.66%), Oriental Bank of Commerce (down 3.33%), Dena Bank (down 2.38%), and Indian Bank (down 1.1%), declined.

Among private sector banks, Axis Bank (down 1.29%), ICICI Bank (down 1.2%), Kotak Mahindra Bank (down 0.36%), and Yes Bank (down 2.28%) declined. IndusInd Bank rose 1.09%. HDFC Bank gained 0.42%.

The BSE Bankex had outperformed the market over the past one month till 26 May 2017, rising 5.11% compared with 2.97% rise in the Sensex. The index had also outperformed the market in past one quarter, gaining 11.21% as against Sensexs 7.39% gains.

The Institute of Chartered Accountants of India (ICAI) has reportedly written to the Reserve Bank of India (RBI), seeking information on the divergence in bad-loan estimates by some lenders and the central bank.

ICAIs financial reporting review board (FRRB) will also review the 2015-16 financial statements of Axis Bank and Yes Bank, the accounting body reportedly said. ICICI Banks financial statement would also be reviewed, report added.

ICAIs disciplinary directorate reportedly wrote to RBI on 24 May 2017 seeking specific information/details such as details of inspection by RBI with relevant documents to be made available to ICAI and further requesting them to file a formal complaint, if they so desire. Based on the central banks response, ICAI could consider further course of action in terms of the disciplinary provisions prescribed under the Chartered Accountants Act, 1949.

ICAIs inquiries come after three private sector banks reported a sharp divergence between their asset quality classifications and provisioning for 2015-16 and what the RBI deemed necessary. On 18 April, the regulator had told banks to make a disclosure in their financial statements if the divergence exceeded 15%.

ICAI has also directed its FRRB to engage with the banks auditors to understand the reasons behind the difference between the findings of the statutory audit and the RBI audit.

Meanwhile, the Reserve Bank is reportedly likely to announce within a fortnight the guidelines to operationalise non performing assets (NPA) ordinance so as to expedite the recovery of bad loans which have crossed Rs 8 lakh crore in the public sector banks.

The RBI top brass has been batting for a number of ways to resolve public sector bank problems. The deputy governor Viral Acharya had suggested options like raising private capital, mergers, and divestments for the public sector banks. RBI governor Urjit Patel, in the Third Kotak Family Distinguished Lecture delivered at Columbia University, stated that the system would be better off if public sector banks are consolidated into fewer but healthier banks.

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Psyche reward plays crucial role in total rewards strategy; need to customize rewards in line with employees need and organizations culture
May 29,2017

The biggest challenge for human resource professionals is to motivate, engage and encourage employees to deliver their best as the intellectual capital of an organization is the differentiating factor, said Mr. P. Dwarakanath, Director, Group Human Capital, Max India Limited.

Mr. Dwarakanath said that besides monetary rewards it is the psyche reward, which plays a crucial role in total rewards strategy. As the person goes higher up in the hierarchy, customizing rewards becomes essential, keeping in view the organizations culture, level of employee and the capacity of the organization to pay. He added that rewards cannot be looked at in isolation.

Mr. Dwarakanath said that networking was an important activity for HR professionals. To be a leader, the HR professional had to cope up with technological advances and networking was essential in this process to understand the aspirations of the employees. He added that HR should be flexible and design total rewards strategy in line with employees need and organizations culture.

Dr. A Didar Singh, Secretary General, FICCI, said that with the advent of Industry 4.0, artificial intelligence and 3D printing, skills, people and human resource had been affected greatly. With increased automation, human interface was reducing resulting in loss of jobs. Therefore, the need was to develop a creative human resource which was productive and competitive. He added that workforce needed multiple skills and creativity to survive the advancement of technology and this called for a different matrix of reward strategy, which could remain sustainable in the changing scenario.

During the session, a survey report on Reward Philosophies India - 2017 & Beyond prepared by FICCI in collaboration with Strat-Board was unveiled. The study reflects on core HR dilemmas with a view to share collective insights and trigger change for long lasting impact for organizations and individuals. It touches variety of niche aspects of total rewards including structure & philosophy, performance pay, frontline compensation, gender pay parity, executive compensation, employee wellness, ESOPs, compensation benchmarking and key priorities for 2017 & beyond.

The results of the survey are a clear representation of the realities we face today and the evolution from here. Some key outcomes to note and act upon are as follows:

n++ Hierarchy/Levels still form the foundation for Total Reward structures however the new world of work may challenge the status quo - Organisations with pure dependence on Hierarchy/Grades may need to reconsider their Rewards framework and align it either to a standard/equal benefits philosophy across the organisation and/or a role based approach.

n++ Compensation remains a closely handled and individually delivered mandate (even for organisations with open cultures) - Individuals have little to no-clarity about where they stand commercially as compared to others in similar roles. It is pertinent to note that individuals now have access to a growing number of alternative market sources for comparison.

n++ Majority of the Organisations do not deploy reward-led long-term retention measures across the board - The focus remains largely limited to people in leadership/critical roles. With growing choices in the hands of the employee and a growing back-lash of attrition in most sectors, this may emerge as an important yet under-utilised aspect of retaining high performing employees across the organisation.

n++ Variable pay and creating an inclusive Rewards culture remains an element of focus for most organisations - While majority of organisations yet struggling to find the right balance of variable pay opportunities specially for support staff, there is a clear indication to move towards a larger inclusive reward structure across the organization.

n++ The Bell-Curve divide continues to grow - A significant segment of the industry is looking for proven alternate methods and some are even experimenting with hybrid of existing methods.

n++ GPP (Gender Pay Parity) is yet to become a reality in most of the organizations - While a lot of conversations are happening on Gender Diversity & equality, majority of organisations are yet to start measuring it from the Total Rewards context.

n++ Most Corporates seem to not yet have a Joining/Committed Bonus policy - While most mentioned need to resort to the practice, organizations continue to deal with this in a controlled but ad hoc manner, more driven by approvals than policy.

n++ Hiring freshers at higher salary than to existing employees continues to be a challenge - Organizations are adopting various measures to address this concern.

n++ Organisations are now beginning to realise that salary reductions are a reality for continued Non-performance across the Board- Though a large segment yet ascribe it as more of a frontline suitable alternative, some organizations seem to realise it as a cultural notion which needs to be challenged, but a nearly equal number would not prefer to resort to this.

n++ There is dichotomy in approach when it comes to dealing with false tax claims - Most organisations tend to not deploy punitive/disciplinary measures to counter the same (unlike false reimbursement claims). Tax friendly pay structures continue to trigger this concern, and organisations and employees may face larger risks due to inadequacy of right measures.

n++ While all organisations seem to be aligned on driving Employee Wellness - This is yet an ad hoc aspect for many and remains a good to do vs. really a need to do element - The ROI or direct impact of wellness on Business and /or People strategy yet remains unknown to most.

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Wockhardt intimates of successful inspection of its facility in Shendra, Aurangabad
May 29,2017

Wockhardt announced that the Health Products Regulatory Authority of Ireland (HPRA) has granted Certificate of GMP Compliance to the Companys Shendra, Aurangabad facility based on inspection performed from 27 February 2017 to 3 March, 2017.

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Reliance Communications reports consolidated net loss of Rs 948.00 crore in the March 2017 quarter
May 29,2017

Net loss of Reliance Communications reported to Rs 948.00 crore in the quarter ended March 2017 as against net profit of Rs 79.00 crore during the previous quarter ended March 2016. Sales declined 24.11% to Rs 4312.00 crore in the quarter ended March 2017 as against Rs 5682.00 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1283.00 crore in the year ended March 2017 as against net profit of Rs 660.00 crore during the previous year ended March 2016. Sales declined 11.21% to Rs 19493.00 crore in the year ended March 2017 as against Rs 21954.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4312.005682.00 -24 19493.0021954.00 -11 OPM %20.2230.01 -25.3232.96 - PBDT101.001213.00 -92 1834.004716.00 -61 PBT-1292.00-159.00 -713 -2387.00232.00 PL NP-948.0079.00 PL -1283.00660.00 PL

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Shree Ajit Pulp and Paper consolidated net profit declines 80.27% in the March 2017 quarter
May 29,2017

Net profit of Shree Ajit Pulp and Paper declined 80.27% to Rs 0.58 crore in the quarter ended March 2017 as against Rs 2.94 crore during the previous quarter ended March 2016. Sales declined 8.33% to Rs 56.55 crore in the quarter ended March 2017 as against Rs 61.69 crore during the previous quarter ended March 2016.

For the full year,net profit declined 45.42% to Rs 6.43 crore in the year ended March 2017 as against Rs 11.78 crore during the previous year ended March 2016. Sales declined 4.53% to Rs 226.49 crore in the year ended March 2017 as against Rs 237.24 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales56.5561.69 -8 226.49237.24 -5 OPM %5.8711.54 -8.4911.82 - PBDT2.185.91 -63 14.6523.34 -37 PBT0.654.55 -86 8.9117.90 -50 NP0.582.94 -80 6.4311.78 -45

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Shah Alloys reports consolidated net profit of Rs 52.14 crore in the March 2017 quarter
May 29,2017

Net profit of Shah Alloys reported to Rs 52.14 crore in the quarter ended March 2017 as against net loss of Rs 8.99 crore during the previous quarter ended March 2016. Sales rose 5.20% to Rs 77.84 crore in the quarter ended March 2017 as against Rs 73.99 crore during the previous quarter ended March 2016.

For the full year,net profit declined 70.43% to Rs 35.76 crore in the year ended March 2017 as against Rs 120.93 crore during the previous year ended March 2016. Sales rose 19.30% to Rs 311.38 crore in the year ended March 2017 as against Rs 261.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales77.8473.99 5 311.38261.00 19 OPM %2.57-1.27 --0.30-6.80 - PBDT-1.24-6.57 81 -14.77-39.82 63 PBT-4.55-11.11 59 -28.51-57.98 51 NP52.14-8.99 LP 35.76120.93 -70

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Aananda Lakshmi Spinning Mills reports standalone net loss of Rs 3.09 crore in the March 2017 quarter
May 29,2017

Net Loss of Aananda Lakshmi Spinning Mills reported to Rs 3.09 crore in the quarter ended March 2017 as against net loss of Rs 4.29 crore during the previous quarter ended March 2016. Sales declined 97.54% to Rs 0.48 crore in the quarter ended March 2017 as against Rs 19.48 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 16.23 crore in the year ended March 2017 as against net loss of Rs 8.97 crore during the previous year ended March 2016. Sales declined 55.39% to Rs 37.95 crore in the year ended March 2017 as against Rs 85.07 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.4819.48 -98 37.9585.07 -55 OPM %-327.08-9.29 --25.30-1.93 - PBDT-2.81-3.77 25 -14.85-7.30 -103 PBT-3.09-4.07 24 -16.23-8.75 -85 NP-3.09-4.29 28 -16.23-8.97 -81

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Lotus Eye Care Hospital reports standalone net loss of Rs 0.86 crore in the March 2017 quarter
May 29,2017

Net Loss of Lotus Eye Care Hospital reported to Rs 0.86 crore in the quarter ended March 2017 as against net loss of Rs 0.61 crore during the previous quarter ended March 2016. Sales rose 17.53% to Rs 8.65 crore in the quarter ended March 2017 as against Rs 7.36 crore during the previous quarter ended March 2016.

For the full year,net profit rose 330.00% to Rs 0.43 crore in the year ended March 2017 as against Rs 0.10 crore during the previous year ended March 2016. Sales rose 9.09% to Rs 33.96 crore in the year ended March 2017 as against Rs 31.13 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales8.657.36 18 33.9631.13 9 OPM %-5.322.31 -9.4812.59 - PBDT-0.210.29 PL 3.874.41 -12 PBT-1.14-0.79 -44 0.43-0.03 LP NP-0.86-0.61 -41 0.430.10 330

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Reliance Communications reports standalone net loss of Rs 94.00 crore in the March 2017 quarter
May 29,2017

Net loss of Reliance Communications reported to Rs 94.00 crore in the quarter ended March 2017 as against net profit of Rs 692.00 crore during the previous quarter ended March 2016. Sales declined 25.40% to Rs 1944.00 crore in the quarter ended March 2017 as against Rs 2606.00 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1796.00 crore in the year ended March 2017 as against net loss of Rs 379.00 crore during the previous year ended March 2016. Sales declined 11.71% to Rs 8823.00 crore in the year ended March 2017 as against Rs 9993.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1944.002606.00 -25 8823.009993.00 -12 OPM %8.0850.19 -2.2121.16 - PBDT-350.00926.00 PL -1883.00387.00 PL PBT-932.00387.00 PL -3855.00-1627.00 -137 NP-94.00692.00 PL -1796.00-379.00 -374

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P C Products India reports standalone net loss of Rs 0.16 crore in the March 2017 quarter
May 29,2017

Net loss of P C Products India reported to Rs 0.16 crore in the quarter ended March 2017 as against net profit of Rs 0.04 crore during the previous quarter ended March 2016. Sales declined 96.72% to Rs 0.04 crore in the quarter ended March 2017 as against Rs 1.22 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.32 crore in the year ended March 2017 as against net profit of Rs 0.01 crore during the previous year ended March 2016. Sales declined 65.31% to Rs 1.28 crore in the year ended March 2017 as against Rs 3.69 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.041.22 -97 1.283.69 -65 OPM %-400.002.46 --25.78-1.08 - PBDT-0.160.04 PL -0.320.01 PL PBT-0.160.04 PL -0.320.01 PL NP-0.160.04 PL -0.320.01 PL

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Gini Silk Mills standalone net profit rises 35.59% in the March 2017 quarter
May 29,2017

Net profit of Gini Silk Mills rose 35.59% to Rs 0.80 crore in the quarter ended March 2017 as against Rs 0.59 crore during the previous quarter ended March 2016. Sales declined 41.70% to Rs 6.43 crore in the quarter ended March 2017 as against Rs 11.03 crore during the previous quarter ended March 2016.

For the full year,net profit rose 34.44% to Rs 2.42 crore in the year ended March 2017 as against Rs 1.80 crore during the previous year ended March 2016. Sales declined 4.00% to Rs 39.12 crore in the year ended March 2017 as against Rs 40.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales6.4311.03 -42 39.1240.75 -4 OPM %-1.2415.87 -8.6410.18 - PBDT1.061.07 -1 4.074.18 -3 PBT0.810.85 -5 3.103.26 -5 NP0.800.59 36 2.421.80 34

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Shree Ajit Pulp and Paper standalone net profit declines 85.51% in the March 2017 quarter
May 29,2017

Net profit of Shree Ajit Pulp and Paper declined 85.51% to Rs 0.41 crore in the quarter ended March 2017 as against Rs 2.83 crore during the previous quarter ended March 2016. Sales declined 7.06% to Rs 52.78 crore in the quarter ended March 2017 as against Rs 56.79 crore during the previous quarter ended March 2016.

For the full year,net profit declined 47.11% to Rs 6.40 crore in the year ended March 2017 as against Rs 12.10 crore during the previous year ended March 2016. Sales declined 6.12% to Rs 208.66 crore in the year ended March 2017 as against Rs 222.26 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales52.7856.79 -7 208.66222.26 -6 OPM %6.0611.73 -8.8812.21 - PBDT2.175.64 -62 14.4723.12 -37 PBT0.714.36 -84 9.0417.97 -50 NP0.412.83 -86 6.4012.10 -47

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International Pumps & Projects reports standalone net profit of Rs 0.19 crore in the March 2017 quarter
May 29,2017

Net profit of International Pumps & Projects reported to Rs 0.19 crore in the quarter ended March 2017 as against net loss of Rs 0.30 crore during the previous quarter ended March 2016. Sales rose 179.02% to Rs 14.76 crore in the quarter ended March 2017 as against Rs 5.29 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.29 crore in the year ended March 2017 as against net loss of Rs 0.09 crore during the previous year ended March 2016. Sales rose 37.05% to Rs 27.63 crore in the year ended March 2017 as against Rs 20.16 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales14.765.29 179 27.6320.16 37 OPM %0.27-7.37 --0.18-3.08 - PBDT0.19-0.27 LP 0.42-0.13 LP PBT0.19-0.27 LP 0.42-0.13 LP NP0.19-0.30 LP 0.29-0.09 LP

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AI Champdany Industries reports standalone net profit of Rs 0.62 crore in the March 2017 quarter
May 29,2017

Net profit of AI Champdany Industries reported to Rs 0.62 crore in the quarter ended March 2017 as against net loss of Rs 0.63 crore during the previous quarter ended March 2016. Sales declined 35.73% to Rs 44.61 crore in the quarter ended March 2017 as against Rs 69.41 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 5.77 crore in the year ended March 2017 as against net loss of Rs 5.43 crore during the previous year ended March 2016. Sales declined 49.15% to Rs 111.49 crore in the year ended March 2017 as against Rs 219.25 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales44.6169.41 -36 111.49219.25 -49 OPM %10.692.51 -5.713.61 - PBDT1.77-1.65 LP -5.15-4.80 -7 PBT0.78-3.02 LP -9.21-9.93 7 NP0.62-0.63 LP -5.77-5.43 -6

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Inceptum Enterprises reports standalone net profit of Rs 0.01 crore in the March 2017 quarter
May 29,2017

Net profit of Inceptum Enterprises reported to Rs 0.01 crore in the quarter ended March 2017. There were no net profit/loss reported during the previous quarter ended March 2016. Sales rose 30.00% to Rs 0.26 crore in the quarter ended March 2017 as against Rs 0.20 crore during the previous quarter ended March 2016.

For the full year,net profit remain constant at Rs 0.02 crore in the year ended March 2017 and also during the previous year ended March 2016. Sales rose 59.63% to Rs 1.74 crore in the year ended March 2017 as against Rs 1.09 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.260.20 30 1.741.09 60 OPM %7.695.00 -1.722.75 - PBDT0.020.01 100 0.030.03 0 PBT0.020.01 100 0.030.03 0 NP0.010 0 0.020.02 0

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