The name of the company is changed and approved by the management and is now called Capri Global Capital Limited.
Financial Results for March 31, 2013 (Audited)
Link: Click Here
Money Matters Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2013, inter alia, has decided the following:
1. Recommended a final dividend of Rs. 1.50 per Equity share of Rs. 10/- each (i.e.15%) for the year ended March 31, 2013.
2. Appointed Mr. Alwyn D'sauza, Company Secretary in Practice as Scrutinizer for conduct of the Postal Ballot process.
3. Initiated Postal Ballot process pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, and approved Notice and calendar of event for:
a. Change the name of the Company from to 'Capri Global Capital Limited';
b. Set up a limit of Rs. 3000 Crores for investments/lending under subsection (1) of section 372A of the Companies Act 1956;
c. Increasing Borrowing Limits of the Company up to Rs. 2000 Crores under section 293(1)(d) of the Companies Act 1956; and
d. Authoring Board to create Charge on assets of the Company to secure borrowings by the Company under section 293(1)(a) of the Companies Act 1956.
My Views:
I have got no words to describe the strong growth that has been shown consistently by the company.
This is second consecutive quarter where company has shown more than 400% growth in revenues YoY.
Revenues has grown from 183 Crs to 836 Crs YoY and grown from 508 crs to 836 Crs QoQ.
Net Profit has grown from 13 Crs to 21 Crs YoY and grown from 20 Crs to 21 Crs QoQ.
Lets evaluate the yearly performance:
Revenues has grown from 556 Crs to 1852 Crs on yearly basis from FY12 to FY13, which is unbelievable.
Net Profit has grown from 40 Crs to 74 Crs, which takes EPS from 11.55 to 21.28
Company is sitting on a cash reserve of 843 Crs which is unbelievable considering the fact that market capitalization of the company is only 596 Crs.
Frankly speaking, I dont know why this stock is only trading at only 170 Rs per share, but that is of course, not in my hands. The reason I feel, could be that, this company, was found involved in bribery earlier in 2010, about which, I mentioned in earlier post on Money Matters.
I suggested this stock when it was around 105-110 levels, and I also mentioned about all the risk and everything associated with this stock. I feel that this stock has got unlimited upside potential, but still, as I said earlier also, it depends on risk taking ability of each person.
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