In this article, we can see Crest ventures ltd as a Potential Multibagger Stock as on October 2023.
Crest Ventures Ltd
Crest Ventures Limited is a Non-deposit NBFC registered with the RBI. It is engaged in the business of real estate and related services, financial services, investment, and credit operations. Mr. Vasudeo R. Galkar is the current Chairman. Mr. Vijay Choraria is the current Managing Director.
Capital Adequacy Ratio
The company’s total Capital Adequacy Ratio(CAR) as of March 31, 2022 stood at 14%. To maintain a regulatory minimum of 15% CAR, Co liquidated its entire stake in its associate Company Classic Mall Development Company Ltd for a consideration of Rs 867 Cr.
NCD Issue
The Co has approved the allotment of 9,090 NCDs, aggregating to Rs 91 Cr on a private placement basis.
Investment
The Co has an investment of Rs 492 Cr (FY22) vs Rs 440 Cr (FY21)in ICICI MF
New Investment
The company, in August 2021, acquired equity shares amounting to 5% of Vascon Engineers Limited, in a preferential allotment, for a consideration of INR 25 Crores.
Subsidiaries, Associates, and Joint Ventures
The Company had 5 subsidiaries, 6 associates, and 1 joint venture, named Trinity Ventures.
Website
Location
Crest Ventures Limited is a Non-deposit NBFC registered with the RBI. company is headquartered in Mumbai.
Leaders
Mr. Vasudeo R. Galkar is the current Chairman. Mr. Vasudeo R Galkar B.Com, LLB, FCA, was former Executive Director (Investments) of Life Insurance Corporation of India (LIC) 33 years of service out of which 13 years in Investment Department. He has vast experience in the field of finance, accounts and audit. He is also on the Board of SBICAP Securities Limited. He was a Partner of M/s. Sarda & Pareek, Chartered Accountants.
Mr. Vijay Choraria is the current Managing Director. A Chartered Accountant and Bachelor in General Law by qualification, Mr. Choraria has championed Crest Ventures since its inception. He has served as an Independent Director on the Board of several prominent companies and on the Executive Committee of Bombay Stock Exchange. He has over 30 years of experience in the real estate and financial sector and has guided the group business in various verticals including joint ventures with several leading international groups.
Mr. Mohindar Kumar has over 35 years rich and vibrant experience in RBI Regulations. He had a career span of over 32 years with Reserve Bank of India, of which he worked in the financial system and had a leadership role for 19 years. He had been part of the various working groups and committees of RBI formed for financial regulations. Presently, he has been involved in advisory services to some of the largest NBFCs and consultancy firms on the RBI Regulations.
Mr. Rajeev Sharma Mr. Rajeev Sharma is a Chartered Accountant, Company Secretary, Cost & Works Accountant, Post Graduate in Law, Certified Information System Auditor and Certified Fraud Examiner. He has over 27 years of experience in Consulting, IT and Outsourcing Industry and has been involved in large IT projects and has deep domain knowledge. He is the promoter of OSource India, a leading provider of outsourcing and technology solutions. He has been awarded for “30 Most Talented Leaders (Outsourcing Industry) by Asia BPO Summit 2013-14 and for “Excellence & Leadership in Outsourcing” by Asia BPO Summit 2014-15.
Ms. Neha Mehta Neha Mehta has been a practicing Advocate of the Bombay High Court for over 15 years & has attended to a wide variety of complex litigation related to commercial real estate transactions, arbitration relating to commercial and contractual disputes at both domestic and international level, white collar crimes, banking and finance, insolvency and bankruptcy, direct and indirect taxation, company restructuring and labor disputes. Her vast knowledge of dispute resolution has enabled her to successfully advise clients on formulating strategies in High Courts, National Tribunals and the Supreme Court of India.
Highlights
- The total income for FY 2022-23 was
81,591.07 Lakh as compared to2,958.61 Lakh recorded during the previous financial year. The net profit for the financial year ended March 31, 2023, stood at59,480.54 Lakh as against the net loss of2,879.52 Lakh for the previous financial year. - On a Consolidated basis, the total income for FY 2022-23 was
65,085.15 Lakh, higher than the previous year’s total income of5,692.96 Lakh. - The Profit attributable to shareholders of the Company for FY 2022-23 was
39,586.00 Lakh higher than the previous year’s profit attributable to shareholders of the Company1,209.89 Lakh. - On a Standalone basis the finance cost for FY 2022-23 stands at
1,059.67 Lakh which was comparatively lesser as compared with that of1,427.27 Lakh for FY 2021-22. - Depreciation, amortization, and impairment cost for FY 2022-23 at
289.46 Lakh as compared with that of218.18 Lakh for FY 2021-22. - The borrowings in the form of loans from banks and/or financial institutions for the FY 2022-23 stood at
5,770.62 Lakh as against5,721.16 Lakh for the previous financial year and in the form of Debt Securities amounting to `9,134.83 Lakh for the FY 2022-23. - Intercorporate Borrowings for the FY 2022-23 was
Nil as compared to18,860.97 Lakh for the FY 2021-22. - Considering the good performance and strong cashflow, the Board recommends a final dividend of
1 per fully paid up Equity Share (i.e. 10%) on 28,449,775 Equity Shares of face value of10 each subject to the approval of the Members. - The closing balance of the Retained Earnings of the Company for FY 2022-23, after all appropriation and adjustments, was
47,409.65 Lakh (as on March 31, 2022575.35 Lakh). - The paid-up equity share capital as of March 31, 2023, was 2,844.98 Lakh divided into 28,449,775 Equity Shares of 10/- each. The company’s equity share capital is listed on the National Stock Exchange of India Limited (“NSE”) and the BSE Limited (“BSE”). The shares are actively traded on the NSE and BSE and have not been suspended from trading.
- The Company has raised
9,090 Lakh through issuance of 9,090 privately placed 12% Rated, Listed, Unsecured, Senior, Transferable, Redeemable, Non-Convertible Debentures (“Debentures”) of face value of1 Lakh each during the financial year under review.
Products & Services
- Investing
- Broking
- Real Estate
Profit & Loss
Positives
- The Co has four upcoming projects: Bani Park – Jaipur; Crest Link – Mumbai; Crest Parkview – Mumbai; Crest Chambers – Chennai.
- As on March 31, 2023, Crest Group (including subsidiary companies) had 118 employees including the Managing Director. During the year considering the future business growth plans the Company has consciously added a considerable amount of talent across levels and functions.
- The Nomination and Remuneration Committee periodically reviews career growth plan of senior management personnel who possess ability to build teams and nurture leaderships for future growth plans of the Company.
- The Debenture Fund Raising Committee (“DFRC”) of the Company is constituted to manage, consolidate and refinance the existing working capital facilities efficiently, to give the Company flexibility to strengthen its lending and investment books and to finance its real estate project(s) which are undertaken /to be undertaken in the near future and for general corporate purpose and to issue and allot Debentures as and when required.
Negatives
- Volatile share price over the past 3 months
- Dividend of 0.33% is not well covered by cash flows
- Significant insider selling over the past 3 months
- Few scam connected with promoters in the past
Warren Buffett Checklist
| Factor | Value |
| Economic Moat | Moderate |
| Growth | Moderate |
| Valuation | Good |
| Debt | Moderate |
| Integrity | Moderate |
Summary
Based on above evaluation the company have low multibagger properties.
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