The Investment Trust

₹149 1.3 | 0.9%

WEBSITE BSE:530023 NSE : THEINVEST 18 May, 12:50

Market Cap ₹778 Cr.

Stock P/E 41.9

P/B 1.2

Current Price ₹149

Book Value ₹ 126.6

Face Value 10

52W High ₹170.9

Dividend Yield 0%

52W Low ₹ 74.1

Edit Ratio

The Investment Trust Research see more...

Overview Inc. Year: 1991Industry: Finance - NBFC

Investment Trust of India Ltd, formerly Fortune Financial Services (India) Ltd, is a holding agency. The Company is engaged inside the enterprise of economic advisory and consultancy services. The Company is likewise engaged in holding funding in subsidiaries. The Company's provider portfolio consists of funding banking and corporate finance activities on the capital market side, as well as advisory offerings, broking offerings within the cash and future and options segments, currency derivatives, commodities, along presenting depository services, mortgage, portfolio control offerings, and other wealth and distribution related merchandise. It provides various financial services right from equities and derivatives buying and selling, equity research, commodities trading, portfolio control offerings, distribution of mutual funds and coverage products. Its subsidiaries consist of Intime Equities Ltd, Intime Multi Commodity Company Ltd, and Antique Stock Broking Ltd.

The Investment Trust Share Price

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Peer Comparison

The Investment Trust Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	75	80	78	79	67	78	58	77	67	86
Other Income	1	3	7	2	5	6	7	1	7	4
Total Income	76	82	85	81	71	84	64	77	74	90
Total Expenditure	72	75	82	68	64	63	57	59	56	64
Operating Profit	3	8	3	13	7	21	7	18	17	26
Interest	6	5	4	4	3	4	5	7	7	8
Depreciation	3	4	3	3	3	4	3	3	3	3
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	-5	-1	-3	6	1	14	-1	9	8	15
Provision for Tax	2	1	2	4	2	3	2	1	2	12
Profit After Tax	-7	-2	-5	2	-1	11	-2	8	6	4
Adjustments	-1	2	1	1	1	2	1	3	0	-0
Profit After Adjustments	-8	0	-5	3	0	13	-1	10	6	4
Adjusted Earnings Per Share	-1.5	0.1	-0.9	0.6	0	2.5	-0.2	2	1.2	0.7

The Investment Trust 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	60	55	159	139	161	333	629	459	322	324	301	288
Other Income	2	6	0	9	10	23	29	4	18	15	23	19
Total Income	63	61	159	149	171	356	658	464	339	339	324	305
Total Expenditure	56	38	109	118	120	250	502	397	269	291	280	236
Operating Profit	7	23	50	30	51	106	156	67	71	48	44	68
Interest	19	20	37	15	11	52	109	60	41	29	14	27
Depreciation	2	3	9	8	8	9	10	12	10	11	12	12
Exceptional Income / Expenses	0	0	0	0	-0	0	0	0	0	0	0	0
Profit Before Tax	-13	-0	4	7	32	46	37	-6	25	12	22	31
Provision for Tax	-1	1	2	4	10	-14	8	5	9	11	10	17
Profit After Tax	-13	-1	2	3	22	60	29	-11	15	1	12	16
Adjustments	0	0	-1	3	7	17	6	5	-0	0	-0	4
Profit After Adjustments	-13	-1	1	6	28	77	35	-5	15	2	12	19
Adjusted Earnings Per Share	-7.8	-0.8	0.4	2	5.5	15.1	6.9	-1	2.9	0.3	2.2	3.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-7%	-13%	-2%	18%
Operating Profit CAGR	-8%	-13%	-16%	20%
PAT CAGR	1100%	0%	-28%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	54%	16%	1%	10%
ROE Average	2%	2%	2%	1%
ROCE Average	5%	6%	7%	7%

The Investment Trust 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	103	162	220	229	462	537	582	585	601	601	636
Minority's Interest	0	0	19	2	88	120	21	2	2	0	10
Borrowings	0	0	22	0	101	368	8	21	22	24	79
Other Non-Current Liabilities	-3	-2	-6	-4	-3	-34	-47	-21	-30	-17	-18
Total Current Liabilities	198	339	560	162	458	568	940	562	507	359	370
Total Liabilities	299	499	814	390	1107	1559	1503	1149	1102	967	1077
Fixed Assets	4	33	31	24	18	23	20	35	23	39	38
Other Non-Current Assets	14	101	282	96	124	170	289	316	259	259	264
Total Current Assets	281	365	501	270	965	1365	1195	798	820	668	775
Total Assets	299	499	814	390	1107	1559	1503	1149	1102	967	1077

The Investment Trust 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	7	9	6	21	11	277	64	59	32	124	188
Cash Flow from Operating Activities	41	-92	-265	449	-188	-539	-41	148	249	302	-97
Cash Flow from Investing Activities	-0	-26	-11	-55	-35	53	281	169	-12	-52	-25
Cash Flow from Financing Activities	-38	116	291	-404	489	274	-246	-343	-145	-186	66
Net Cash Inflow / Outflow	2	-3	15	-10	266	-212	-6	-26	91	64	-57
Closing Cash & Cash Equivalent	9	6	21	11	277	64	59	32	124	188	131

The Investment Trust 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)	-7.76	-0.76	0.41	2	5.55	15.09	6.92	-1.01	2.92	0.31	2.2
CEPS(Rs)	-6.7	1.12	3.1	4.07	5.88	13.38	7.69	0.35	4.84	2.46	4.47
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	63.14	62.47	61.39	80.81	90.52	105.32	113.69	112.95	115.9	116.26	121.46
Core EBITDA Margin(%)	8.15	30.4	31.03	15.18	25.4	24.99	20.27	13.65	16.5	10.16	6.9
EBIT Margin(%)	9.31	35.62	25.57	15.93	26.56	29.36	23.23	11.84	20.45	12.59	12.06
Pre Tax Margin(%)	-21.91	-0.31	2.4	5.06	19.91	13.82	5.91	-1.32	7.68	3.69	7.25
PAT Margin (%)	-20.87	-2.25	1.26	2.22	13.52	17.94	4.66	-2.31	4.75	0.45	3.84
Cash Profit Margin (%)	-18.01	3.3	7	8.28	18.59	20.5	6.24	0.39	7.75	3.91	7.76
ROA(%)	-3.66	-0.31	0.31	0.51	2.91	4.48	1.91	-0.8	1.36	0.14	1.13
ROE(%)	-11.58	-1.22	1.25	1.37	6.31	11.96	5.24	-1.83	2.59	0.24	1.88
ROCE(%)	2.29	6.81	7.87	4.53	7.58	9.47	11.89	4.97	7.14	5.08	4.71
Receivable days	245.35	273.82	120.08	118.81	216.48	110.71	47.67	72.47	76.42	75.38	82.85
Inventory Days	0	0	0	11.72	42.75	38.85	28.87	54.15	58.75	20.57	55.93
Payable days	0	0	0	0	6036.63	492.96	124.48	280.25	927.25	730.2	948.87
PER(x)	0	0	455.75	66.21	55.74	14.14	26.02	0	31.1	365.99	30.44
Price/Book(x)	0.64	0.94	3.07	1.64	3.42	2.02	1.58	0.53	0.78	0.97	0.55
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	1.34	2.48	6.09	2.59	9.87	4.92	2.24	1.22	1.59	1.28	0.87
EV/Core EBITDA(x)	11.04	6.02	19.44	11.84	31.2	15.41	9.02	8.38	7.21	8.58	5.99
Net Sales Growth(%)	-23.67	-8.9	188.2	-12.28	15.79	106.57	88.91	-26.97	-30	0.75	-7.1
EBIT Growth(%)	-73	248.67	106.89	-45.36	93.05	128.34	49.5	-62.79	20.92	-37.94	-11.01
PAT Growth(%)	-470.59	90.16	261.3	53.96	606.55	174.13	-50.95	-136.27	243.83	-90.51	697.69
EPS Growth(%)	-470.59	90.16	154.24	382.09	177.87	171.88	-54.15	-114.59	389.71	-89.51	617.8
Debt/Equity(x)	1.19	1.87	2.09	0.31	0.8	1.3	1.11	0.65	0.47	0.21	0.28
Current Ratio(x)	1.41	1.08	0.9	1.67	2.1	2.41	1.27	1.42	1.62	1.86	2.09
Quick Ratio(x)	1.45	1.08	0.9	1.64	2.03	2.34	1.2	1.29	1.56	1.84	1.86
Interest Cover(x)	0.3	0.99	1.1	1.47	4	1.89	1.34	0.9	1.6	1.41	2.51
Total Debt/Mcap(x)	1.86	1.99	0.68	0.11	0.23	0.64	0.7	1.23	0.59	0.22	0.51

The Investment Trust Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	73.13	73.13	73.13	72.12	72.12	72.12	72.12	72.12	72.12	72.12
FII	4.18	6.64	6.64	6.55	6.55	6.55	6.55	6.55	6.55	6.55
DII	0	0	0	0	0	0	0	0	0	0
Public	22.69	20.23	20.23	21.33	21.33	21.33	21.33	21.33	21.33	21.33
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	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77	3.77
FII	0.22	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34
DII	0	0	0	0	0	0	0	0	0	0
Public	1.17	1.04	1.04	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	5.15	5.15	5.15	5.22	5.22	5.22	5.22	5.22	5.22	5.22

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 2% over the last 3 years.
Debtor days have increased from 730.2 to 948.87days.
The company has delivered a poor profit growth of -27% over past five 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.