Mercantile Ventures

₹22.2 0.6 | 2.7%

WEBSITE BSE:538942 NSE : MERCANTILE 18 May, 12:50

Market Cap ₹248 Cr.

Stock P/E -46.7

P/B 0.7

Current Price ₹22.2

Book Value ₹ 30.9

Face Value 10

52W High ₹37.1

Dividend Yield 0%

52W Low ₹ 16.1

Edit Ratio

Mercantile Ventures Research see more...

Overview Inc. Year: 1985Industry: Finance - NBFC

Mercantile Ventures Ltd is a Non-Banking Financial Company (NBFC) that operates in the financial services sector. With its headquarters located in an urban center, the company offers a wide range of financial solutions to meet the diverse needs of individuals and businesses. Mercantile Ventures specializes in providing various financial services, including lending, investment, and advisory services. As an NBFC, Mercantile Ventures is not a traditional bank but plays a crucial role in bridging the gap between formal banking institutions and underserved segments of the economy. The company focuses on delivering flexible and tailored financial products to its customers, allowing them to access funds for various purposes such as business expansion, working capital, and personal requirements. With a team of experienced professionals and a customer-centric approach, Mercantile Ventures aims to provide efficient financial solutions with a focus on transparency, trust, and customer satisfaction. The company adheres to regulatory guidelines and best practices to ensure the security and integrity of its operations, fostering long-term relationships with its clients.

Mercantile Ventures Share Price

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Peer Comparison

Mercantile Ventures Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	9	9	10	10	11	12	13	14	15	16
Other Income	2	2	11	2	1	3	1	1	1	2
Total Income	11	12	21	12	12	15	14	15	16	18
Total Expenditure	9	8	10	9	10	12	13	13	14	15
Operating Profit	2	3	11	3	2	4	1	2	2	3
Interest	0	0	0	0	0	0	0	0	0	1
Depreciation	0	0	0	0	0	0	0	0	0	0
Exceptional Income / Expenses	0	0	0	0	0	0	1	0	0	-10
Profit Before Tax	2	3	10	2	2	3	2	1	1	-8
Provision for Tax	1	1	3	1	0	1	0	4	0	0
Profit After Tax	1	2	7	2	1	2	1	-3	1	-8
Adjustments	3	2	-3	0	1	0	8	-9	0	4
Profit After Adjustments	4	4	5	2	2	2	9	-12	1	-4
Adjusted Earnings Per Share	0.4	0.3	0.4	0.2	0.2	0.2	0.8	-1.1	0.1	-0.4

Mercantile Ventures Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2	7	13	18	27	30	34	38	37	37	47	58
Other Income	0	9	6	8	5	7	4	6	7	16	7	5
Total Income	3	16	19	26	32	37	39	45	44	53	54	63
Total Expenditure	7	7	12	17	24	29	32	34	33	35	44	55
Operating Profit	-4	9	7	9	7	8	7	10	11	19	10	8
Interest	0	0	0	2	2	1	1	1	1	1	1	1
Depreciation	0	0	0	0	1	1	1	1	1	1	1	0
Exceptional Income / Expenses	3	-5	20	0	-31	0	0	0	0	0	1	-9
Profit Before Tax	-1	4	27	6	-26	6	5	8	9	16	9	-4
Provision for Tax	2	1	5	2	1	5	2	-3	3	5	2	4
Profit After Tax	-3	3	22	4	-28	1	4	11	6	11	7	-9
Adjustments	0	0	1	2	-0	2	14	-14	2	0	9	3
Profit After Adjustments	-3	3	22	7	-28	3	17	-3	9	11	16	-6
Adjusted Earnings Per Share	0	0	2	0.6	-2.5	0.2	0.6	2.1	0.8	1	1.4	-0.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	27%	7%	9%	37%
Operating Profit CAGR	-47%	0%	5%	0%
PAT CAGR	-36%	-14%	48%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	20%	9%	41%	NA%
ROE Average	2%	3%	3%	1%
ROCE Average	3%	4%	4%	2%

Mercantile Ventures Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	238	241	263	270	249	254	272	271	303	338	330
Minority's Interest	0	0	0	0	0	0	0	-7	-9	-4	-4
Borrowings	2	2	13	9	4	4	0	0	0	0	0
Other Non-Current Liabilities	2	0	3	4	-11	-7	-8	-9	-9	-7	-7
Total Current Liabilities	7	34	14	17	16	11	10	14	16	19	17
Total Liabilities	249	277	294	301	258	261	274	270	301	347	337
Fixed Assets	17	5	43	44	86	85	84	76	77	77	77
Other Non-Current Assets	217	228	188	205	64	104	116	114	134	111	175
Total Current Assets	15	44	63	52	109	72	74	79	90	159	85
Total Assets	249	277	294	301	258	261	274	270	301	347	337

Mercantile Ventures Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	30	13	3	6	1	3	3	5	13	23	7
Cash Flow from Operating Activities	-14	0	9	-19	-27	4	10	-9	23	-6	21
Cash Flow from Investing Activities	-2	-10	-18	17	34	-4	-4	17	-13	-10	-26
Cash Flow from Financing Activities	-3	-1	12	-2	-5	-0	-4	0	0	0	4
Net Cash Inflow / Outflow	-19	-10	3	-4	2	-0	2	8	10	-16	-1
Closing Cash & Cash Equivalent	13	3	6	1	3	3	5	13	23	7	6

Mercantile Ventures Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0	0	1.98	0.59	-2.5	0.25	0.6	2.09	0.77	1.03	1.42
CEPS(Rs)	-0.23	0.25	1.97	0.42	-2.39	0.21	0.43	1.11	0.66	1.11	0.69
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	0	0	23.47	24.06	22.26	22.67	24.27	24.25	27.08	30.22	29.51
Core EBITDA Margin(%)	-203.74	-1.38	10.33	4.77	9.77	2.5	7.45	10.19	11.84	5.96	7.16
EBIT Margin(%)	-48.36	56.69	208.47	46.5	-90.53	22.98	16.79	24.42	27.74	47.33	21.01
Pre Tax Margin(%)	-48.43	56.45	207.3	34	-97.6	20.79	15.21	21.96	25.08	44.42	18.72
PAT Margin (%)	-123.39	39.4	166.23	23.78	-102.91	3.81	10.78	29.72	17.12	31.01	14.3
Cash Profit Margin (%)	-120.5	40.76	168.82	26.17	-98.7	7.7	13.88	32.37	19.83	33.68	16.38
ROA(%)	-1.08	1.04	7.58	1.45	-9.99	0.44	1.39	4.18	2.24	3.55	1.97
ROE(%)	-1.13	1.15	8.61	1.62	-10.78	0.45	1.41	4.19	2.22	3.58	2.02
ROCE(%)	-0.44	1.64	10.46	3.03	-9.22	2.69	2.18	3.44	3.6	5.47	2.95
Receivable days	85.03	37.89	49.1	56.32	55.6	66.75	67.05	74.37	79.56	77.7	68.68
Inventory Days	0	0	0	3.89	1.55	0.26	0.09	0.08	0.03	0.08	0.06
Payable days	0	0	0	0	15.98	18.9	11.29	13.43	14.37	14.32	6.54
PER(x)	0	0	12.44	14.49	0	42.24	8.36	1.66	16.81	17.42	11.51
Price/Book(x)	0	0	1.05	0.36	0.53	0.46	0.21	0.14	0.48	0.59	0.56
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	47.39	15.91	21.79	5.79	4.91	3.94	1.47	0.68	3.27	5.23	3.85
EV/Core EBITDA(x)	-25.63	12.16	40.28	11.85	18.06	14.67	7.4	2.51	10.73	10.45	18.2
Net Sales Growth(%)	0	220.09	86.79	39.17	49.67	10.37	14.83	11.17	-2.46	-0.7	27.3
EBIT Growth(%)	0	475.19	586.89	-68.96	-391.37	128.02	-16.14	61.69	10.84	69.41	-43.5
PAT Growth(%)	0	202.19	688.19	-80.09	-747.79	104.09	224.9	206.49	-43.83	79.88	-41.29
EPS Growth(%)	0	0	0	-70.02	-520.13	109.91	140.7	250.85	-63.17	33.5	38.64
Debt/Equity(x)	0.01	0.01	0.05	0.03	0.02	0.02	0	0	0	0	0.01
Current Ratio(x)	2.25	1.32	4.65	2.96	6.71	6.49	7.41	5.64	5.7	8.3	5.17
Quick Ratio(x)	2.25	1.32	4.65	2.95	6.71	6.49	7.4	5.64	5.7	8.3	5.17
Interest Cover(x)	-702.67	241.13	178	3.72	-12.79	10.48	10.66	9.93	10.42	16.23	9.18
Total Debt/Mcap(x)	0	0	0.05	0.1	0.03	0.03	0	0	0	0	0.02

Mercantile Ventures Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	64.71	69.43	69.43	69.43	69.43	72.75	72.75	72.75	72.75	72.75
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	35.29	30.57	30.57	30.57	30.57	27.25	27.25	27.25	27.25	27.25
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	7.24	7.77	7.77	7.77	7.77	8.14	8.14	8.14	8.14	8.14
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	3.95	3.42	3.42	3.42	3.42	3.05	3.05	3.05	3.05	3.05
Others	0	0	0	0	0	0	0	0	0	0
Total	11.19	11.19	11.19	11.19	11.19	11.19	11.19	11.19	11.19	11.19

Pros

Stock is trading at 0.7 times its book value
Company has delivered good profit growth of 47% CAGR over last 5 years
Debtor days have improved from 14.32 to 6.54days.
Company is almost debt free.

Cons

Company has a low return on equity of 3% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.