Sonal Mercantile

₹99 0.5 | 0.5%

WEBSITE BSE:538943 NSE : SONAL 17 May, 09:59

Market Cap ₹146 Cr.

Stock P/E 6.8

P/B 0.5

Current Price ₹99

Book Value ₹ 205.3

Face Value 10

52W High ₹123

Dividend Yield 0%

52W Low ₹ 68

Edit Ratio

Sonal Mercantile Research see more...

Overview Inc. Year: 1985Industry: Finance - NBFC

Sonal Mercantile Limited is an Indian company that is a non-banking finance company registered with the Reserve Bank of India. They are engaged in the business of providing secured and unsecured loans and advances, and investing in securities, both quoted and unquoted. It was incorporated in 1985 and is headquartered in New Delhi, India. The promoters of Sonal Mercantile Ltd are Mr. Vikram Goyal and Mr. Rajan Goyal, who hold 58.9% of the shareholding of the company. They are the second-generation technocrat industrialists who have over 25 years of experience in the financial services sector. The company is registered as a non-banking financial company (NBFC) and provides inter-corporate loans, personal loans, trade financing, bills discounting, project appraisal, and loans against guarantee and properties. The company is also engaged in trading in shares and securities and arbitrage business in stock and commodity market.

Sonal Mercantile Share Price

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Peer Comparison

Sonal Mercantile 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
Operating Revenue	5	5	6	6	6	6	9	10	10	9
Other Income	0	0	0	0	0	0	0	0	0	0
Total Income	5	5	6	6	6	6	9	10	10	9
Total Expenditure	0	0	0	0	0	0	1	0	0	-0
Operating Profit	5	5	5	6	6	6	8	10	10	9
Interest Expense	3	3	2	3	3	4	5	6	6	6
Depreciation	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2	2	3	2	2	2	4	3	4	4
Provision for Tax	1	0	1	1	1	1	1	1	1	1
Profit After Tax	1	1	2	2	2	2	3	3	3	3
Adjustments	4	2	3	3	3	3	2	2	3	4
Profit After Adjustments	5	3	6	5	5	5	5	5	5	7
Adjusted Earnings Per Share	3.3	1.9	3.8	3.1	3.1	3.1	3.1	3.4	3.6	4.5

Sonal Mercantile Profit & Loss

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	4	13	19	21	26	38
Other Income	0	0	0	0	0	0
Total Income	4	13	19	21	26	38
Total Expenditure	1	1	1	1	1	1
Operating Profit	3	12	18	20	26	37
Interest Expense	2	9	11	12	15	23
Depreciation	0	0	0	0	0	0
Profit Before Tax	1	3	6	8	11	15
Provision for Tax	0	1	2	2	3	4
Profit After Tax	1	2	5	6	8	12
Adjustments	4	5	10	11	10	11
Profit After Adjustments	5	7	14	17	18	22
Adjusted Earnings Per Share	3.2	4.4	9.7	11.6	12.2	14.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	24%	26%	0%	0%
Operating Profit CAGR	30%	29%	0%	0%
PAT CAGR	33%	59%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	20%	90%	65%	NA%
ROE Average	3%	3%	2%	2%
ROCE Average	5%	5%	4%	4%

Sonal Mercantile Balance Sheet

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	176	184	217	248	290
Minority's Interest	0	0	0	0	0
Borrowings	67	134	138	159	304
Current Liability	0	8	26	17	15
Other Liabilities & Provisions	0	0	-0	-0	-0
Total Liabilities	243	327	381	423	608
Loans	0	0	0	0	0
Investments	153	164	195	220	253
Fixed Assets	0	0	0	0	0
Other Loans	81	160	183	201	354
Other Non Current Assets	0	0	0	0	0
Current Assets	9	3	2	1	2
Total Assets	243	327	381	423	608

Sonal Mercantile Cash Flow

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	0	6	0	0	0
Cash Flow from Operating Activities	-59	-59	0	-21	-146
Cash Flow from Investing Activities	0	-4	-4	-0	1
Cash Flow from Financing Activities	65	58	3	21	145
Net Cash Inflow / Outflow	6	-6	-0	0	0
Closing Cash & Cash Equivalent	6	0	0	0	0

Sonal Mercantile Ratios

#	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.15	4.41	9.66	11.55	12.21
CEPS(Rs)	0.48	1.35	3.14	4.13	5.35
DPS(Rs)	0	0	0	0	0
Book NAV/Share(Rs)	119.41	125.08	132.58	168.13	196.54
Net Profit Margin	16.87	15.18	24.98	29.22	29.74
Operating Margin	76.8	91.74	95.43	97.13	96.82
PBT Margin	22.79	20.29	33.49	39.27	39.85
ROA(%)	0.29	0.7	1.31	1.52	1.52
ROE(%)	0.4	1.1	2.43	2.75	2.92
ROCE(%)	1.31	4.27	5.25	5.32	5.11
Price/Earnings(x)	2.55	3.89	1.66	3.35	5.93
Price/Book(x)	0.07	0.14	0.12	0.23	0.37
Dividend Yield(%)	0	0	0	0	0
EV/Net Sales(x)	17.73	12.18	8.71	10.34	15.55
EV/Core EBITDA(x)	22.97	13.27	9.12	10.65	16.03
Interest Earned Growth(%)	0	216.69	41.43	12.64	26.59
Net Profit Growth	0	184.92	132.76	31.75	28.85
EPS Growth(%)	0	40	118.95	19.6	5.71
Interest Coverage(x) %	1.42	1.28	1.54	1.68	1.7

Sonal Mercantile Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	24.92	24.92	24.92	24.92	24.92	24.92	24.92	24.92	24.92	24.92
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	75.08	75.08	75.08	75.08	75.08	75.08	75.08	75.08	75.08	75.08
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	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11
Others	0	0	0	0	0	0	0	0	0	0
Total	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47

Pros

Stock is trading at 0.5 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Promoter holding is low: 24.92%.
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.