CIN: L67120MH1985PLC035632

BSE Scrip Code: 511549

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Morarka Finance Expects Further Growth in revenue and earning

By Girish Gulati

Morarka Finance Limited was incorporated in the year 1985. It belongs to the Finance & investment industry. Company has equity capital of 4.5 crores and out of this, promoters holds 60.27 % shares of the company. G.R. Morarka is the promoter of the company.

The Equity Markets continued its upward journey in the year 2003-2004 also in the 2004-2005 The BSE Sensex & NSE is making all time high continuously .The Company in the business of finance & investment, therefore lot of opportunity is emerging to the company.

Investment of the company

As the company belongs to Finance and Investment Sector, it has invested its money in the shares of the other company. The company has Net fund of 6.52 crore (Equity share capital 4.5 crores, Redeemable Preference Shares 0.65 crores & Reserves & surplus of 1.37 crores). For this fund, the company has invest its money in Dwarikesh Sugar. 

As on 31.03.2005 the company holds 23,48,818 shares of the company. It is also noted, that Mr.G.R. Morarka is the promoter of both the companies i.e. Dwarikesh Sugar & Morarka Finance.

The company is totally debt free. The turnover of the 9 months ended for Financial year 2005 increased by 296.30% to Rs. 1.07 crores as compared FY04 (09) to Rs.0.27 crores .The Company posted a steady performance with Profit before Tax of Rs. 0.97 crores in FY05(09) registering an increase of 506.25 % ,if compared with FY04(09).

The Profit after Tax stood at Rs. 0.97 crores as against Rs. 0.16 crores over the last nine months. Operating income rose by 470.60% to Rs 0.97 crore as against Rs 0.17 crore. Operating Profit in the December quarter of FY05 was higher by 10,000 % to Rs 1.00 crore as against Rs .0.01 crore in the corresponding previous quarter. Earnings per share stood at Rs.2.16 for the three-quarters ended 31 st December 2004 under review as against Rs. 0.36 in the corresponding period. Net worth (including preference share capital) at Rs 6.52 crore as at 31 st March 2004, as the company is total debt free company

The increase can be attributed to increase in revenue, decrease in operating expenses. Operating efficiencies and no interest payout supplemented by better management for controlling the cost and efficient working capital management has resulted in an impressive growth in profit in this year and also in the future.

Other factors

One thing is simple, that 45,00,000 shareholders hold 23,48,818 shares of Dwarikesh, meaning there by every one share of Morarka has value of half shares of Dwarikesh Sugar. The company is totally debt free company and does not have any other business. If you buy 1,000 Morarka, then you are holders of 500 Dwarikesh Sugar.

At the current level Dwarikesh Sugar is traded at approximately (Rs.). 150. If we multiplied 23,48,818 shares by 150 then the value comes out is (Rs.). 35.23 crores. Morarka finance has only 45,00,000/- shares and it does not have any debt therefore, the value of each share of the Morarka Finance comes out to be approximately (Rs.). 78 and the share at this moment is trading only (Rs.). 24. Besides this, the company result for the nine months in the year 2004-2005 is very good, as discussed in detail above.

Above all, the future of sugar industry is good for at least two years. For crushing season 2004-05 Dwarikesh Sugar factory is still running (crushing continue on 13-4-2005) Total crushing 8012900 till13-4-2005 with recovery 10.46%, its good in sugar industry, more capacity addition. As, the future of the overall sugar Industry is very much bright and in the overall boom the price of shares of Dwarikesh Sugar will also increase, ultimately it will in the benefit of the shareholders of Morarka Finance.

Morarka likely to declare 15 % dividend this year because, recently the company sold 1,70,000 shares of Dwarikesh sugar and make good profit.

Performance of Dwarikesh Sugar

In a recent interview Management gave a guidance of a net profit of Rs.40crs for the FY05. Dwarikesh Sugars is likely to end up with an EPS of Rs.40 and its share price is expected to reach Rs. 300 in next six months.

Conclusion

The Company expects a further growth in both revenue and earnings due to better management support. Thus the company remains confident of continuing robust growth for the current fiscal and the years to come

It is expected that the company will end up with a minimum of EPS of Rs.3 for FY06 and thus Morarka Finance is trading at a forward P/E of 8, without considering that it has 24,48,818 shares of Dwarikesh Sugar. The price of Dwarikesh sugar is also expected to shoot up, providing an extra cushion. Thus a strong buy is recommended on this scrip for long term buyers with a vision of at least 1-year. Expected price after year is around Rs. 80. 

Published on: Valuenotes.com on April 29, 2005

Disclaimer: Views expressed in the above articles are independent views of the writer only and they don't express the company's official policy, decisions or views. The article has been reproduced here for the sole purpose of public knowledge and information. Morarka Finance Limited doesn't take any responsibility for the views expressed above.

Valuenotes Article

Morarka Finance Expects Further Growth in revenue and earning

By Girish Gulati

Morarka Finance Limited was incorporated in the year 1985. It belongs to the Finance & investment industry. Company has equity capital of 4.5 crores and out of this, promoters holds 60.27 % shares of the company. G.R. Morarka is the promoter of the company.

The Equity Markets continued its upward journey in the year 2003-2004 also in the 2004-2005 The BSE Sensex & NSE is making all time high continuously .The Company in the business of finance & investment, therefore lot of opportunity is emerging to the company.

Investment of the company


As the company belongs to Finance and Investment Sector, it has invested its money in the shares of the other company. The company has Net fund of 6.52 crore (Equity share capital 4.5 crores, Redeemable Preference Shares 0.65 crores & Reserves & surplus of 1.37 crores). For this fund, the company has invest its money in Dwarikesh Sugar.

As on 31.03.2005 the company holds 23,48,818 shares of the company. It is also noted, that Mr.G.R. Morarka is the promoter of both the companies i.e. Dwarikesh Sugar & Morarka Finance.

The company is totally debt free. The turnover of the 9 months ended for Financial year 2005 increased by 296.30% to Rs. 1.07 crores as compared FY04 (09) to Rs.0.27 crores .The Company posted a steady performance with Profit before Tax of Rs. 0.97 crores in FY05(09) registering an increase of 506.25 % ,if compared with FY04(09).

The Profit after Tax stood at Rs. 0.97 crores as against Rs. 0.16 crores over the last nine months. Operating income rose by 470.60% to Rs 0.97 crore as against Rs 0.17 crore. Operating Profit in the December quarter of FY05 was higher by 10,000 % to Rs 1.00 crore as against Rs .0.01 crore in the corresponding previous quarter. Earnings per share stood at Rs.2.16 for the three-quarters ended 31 st December 2004 under review as against Rs. 0.36 in the corresponding period. Net worth (including preference share capital) at Rs 6.52 crore as at 31 st March 2004, as the company is total debt free company.

The increase can be attributed to increase in revenue, decrease in operating expenses. Operating efficiencies and no interest payout supplemented by better management for controlling the cost and efficient working capital management has resulted in an impressive growth in profit in this year and also in the future.

Other factors

One thing is simple, that 45,00,000 shareholders hold 23,48,818 shares of Dwarikesh, meaning there by every one share of Morarka has value of half shares of Dwarikesh Sugar. The company is totally debt free company and does not have any other business. If you buy 1,000 Morarka, then you are holders of 500 Dwarikesh Sugar.

At the current level Dwarikesh Sugar is traded at approximately (Rs.). 150. If we multiplied 23,48,818 shares by 150 then the value comes out is (Rs.). 35.23 crores. Morarka finance has only 45,00,000/- shares and it does not have any debt therefore, the value of each share of the Morarka Finance comes out to be approximately (Rs.). 78 and the share at this moment is trading only (Rs.). 24. Besides this, the company result for the nine months in the year 2004-2005 is very good, as discussed in detail above.

Above all, the future of sugar industry is good for at least two years. For crushing season 2004-05 Dwarikesh Sugar factory is still running (crushing continue on 13-4-2005) Total crushing 8012900 till13-4-2005 with recovery 10.46%, its good in sugar industry, more capacity addition. As, the future of the overall sugar Industry is very much bright and in the overall boom the price of shares of Dwarikesh Sugar will also increase, ultimately it will in the benefit of the shareholders of Morarka Finance.

Morarka likely to declare 15 % dividend this year because, recently the company sold 1,70,000 shares of Dwarikesh sugar and make good profit.

Performance of Dwarikesh Sugar


In a recent interview Management gave a guidance of a net profit of Rs.40crs for the FY05. Dwarikesh Sugars is likely to end up with an EPS of Rs.40 and its share price is expected to reach Rs. 300 in next six months.

Conclusion

The Company expects a further growth in both revenue and earnings due to better management support. Thus the company remains confident of continuing robust growth for the current fiscal and the years to come

It is expected that the company will end up with a minimum of EPS of Rs.3 for FY06 and thus Morarka Finance is trading at a forward P/E of 8, without considering that it has 24,48,818 shares of Dwarikesh Sugar. The price of Dwarikesh sugar is also expected to shoot up, providing an extra cushion. Thus a strong buy is recommended on this scrip for long term buyers with a vision of at least 1-year. Expected price after year is around Rs. 80.

Published on: Valuenotes.com on April 29, 2005

Disclaimer: Views expressed in the above articles are independent views of the writer only and they don't express the company's official policy, decisions or views. The article has been reproduced here for the sole purpose of public knowledge and information. Morarka Finance Limited doesn't take any responsibility for the views expressed above.

MyIris Comment

Buy Morarka Finance Shares, It''s very low!

(myiris.com) Author: Shyam

Reason: (SEE Annual Report of Morarka finance, draft prospectus of Dwarikesh sugar , Bseindia website and also see www.dwarikesh.com)

Morarka Equity is Rs.4.5 crores. Out of this equity promoter holds 65% in morarka finance.
Morarka finance has Net fund of 6.38 crore (Equity 4.50 + Redeemable preference share Hold all by promoter 0.65 + 1.23 crore reserves ). From this fund company has invested in Dwarikesh Sugar Rs. 5.17 crores ( shares at 10 +10 premium total shares 2338771) and other investment of Rs. 0.17 crore which is also good investment but its value is low.

If one calculates at issue price of Dwarikesh sugar @ 65 then 2338771 *65 = 15,20,20115/-
But it was the issue price if listed price will around Rs. 85 then value goes to 19,87,95535/-

So, Bookvalue of this shares at Rs. 47.17. Moreover G.R. morarka is the promoter of this both the companies. Dwarikesh Sugar has declared dividend of 20% @ 2003-04. So, this year Morarka will declare dividend of 10% likely.

One thing is simple : 4500000 shareholders hold 2338771 shares of Dwarikesh, Means Every 1 share of Morarka Has a value of Half shares of Dwarikesh Sugar.

The Company has no any debt no any other business. If you buy 100 Morarka then you are holders of 50 Dwarikesh. This is simple.

So, Buy at dart Cheap rate. If you are holder then don't sell. Buy this is golden chance. No chance of loss. If you have any doubt Feel free to ask me.

Date: 22-Apr-05

 

Disclaimer: Views expressed in the above articles are independent views of the writer only and they don't express the company's official policy, decisions or views. The article has been reproduced here for the sole purpose of public knowledge and information. Morarka Finance Limited doesn't take any responsibility for the views expressed above.

IndianStockNews Article

10 small cap stocks where stock market punters are bullish

Below given are the companies where operators and punters have set their eyes on.Some targets would get acheived and some operators would loose their shirts.

They have only spoken of targets and i have mixed those with my fundamental check.Hope you guys would like it.

Morarka Finance Limited

BSE Code:511549

Story:Morarka Finance is a holding company of Sugar giant called Dwarikesh Sugar. The former one holds 18.69% of the equity of the later one. There are many investment companies in India floated by the promoters where an investment company into the main company indirectly holds the holding. The most talked about company is TATA Sons, which holds stakes in almost all the TATA group companies and TATA family in turn holds TATA Sons.

Vedanta is a holding company of Sterlite group, which is listed on London Stock Exchange.The current market value of shares held by Morarka finance is Rs.14 crs and the 70% value is Rs.11 crs, on the other hand the current market capital is only Rs 5 crs.Even if we give a higher discount of 50%, a value of Rs.7 crs can be very easily assigned to the company.

And we must not forget here is that Dwarikesh is expected to make a bumper profit in going ahead because of high sugar prices. In that case, the valuations of Morarka will go up much more.Punters expect morarka to move 30-40% in the coming few months.

Published on: July 7, 2008
Source: http://www.indianstocksnews.com

 



Disclaimer: Views expressed in the above article are independent views of the writer only and they don't express the company's official policy, decisions or views. The article has been reproduced here for the sole purpose of public knowledge and information. Morarka Finance Limited doesn't take any responsibility for the views expressed above.

Developments at MFL

Developments at MFL: Morarka Finance Fixes Book Closure for AGM

Morarka Finance Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 12, 2013 to September 27, 2013 (both days inclusive) for the purpose of Annual General Meeting (AGM) of the Company.

Source: Moneycontrol.com
Date: 4th-Jun-2013

Developments at MFL: Auditors Report for March 31, 2013

Morarka Finance Ltd has submitted to BSE a Copy of the Auditors Report for the period ended March 31, 2013.

Source: Moneycontrol.com
Date: 30th-May-2013

Developments at MFL: Resignation of Director

Morarka Finance Ltd has informed BSE that Mr. K. P. Medhekar, Director of the Company, has resigned due to personal reason from the Company with effect from October 03, 2011.

Source: Moneycontrol.com
Date: 3rd-Oct-2011


Developments at MFL: Appointment of Director

Morarka Finance Ltd has informed BSE that Mr. Vijay S. Banka has been appointed as an Additional Director of the Company w.e.f. September 29, 2011 as per the decision taken in the Board Meeting of the Company held on September 29, 2011.

Source: Moneycontrol.com
Date: 30th-Sep-2011

Developments at MFL: Outcome of Annual General Meeting

Morarka Finance Ltd has informed BSE that the members at the 26th Annual General Meeting (AGM) of the Company held on September 29, 2011, inter alia, have taken the following decisions:

1. Adoption of Directors Report together with the Audited Balance sheet as on March 31, 2011 and the Profit and Loss account for the year ended on that date and the Auditors report thereon.

2. Re-appointment of Shri K. P. Medhekar as a Director of the Company.

3. Re-appointment of Shri S. Nevatia as a Director of the Company.

4. Re-appointment of M/s. D. P. Agarwal and Co. as Statutory Auditors to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company.

Source: Moneycontrol.com
Date: 29th-Sep-2011

Morarka Finance net profit rises 1650.00% in the March 2010 quarter


Net profit of Morarka Finance rose 1650.00% to Rs. 0.35 crore in the quarter ended March 2010 as against Rs. 0.02 crore during the previous quarter ended March 2009. Sales rose 3500.00% to Rs. 0.36 crore in the quarter ended March 2010 as against Rs. 0.01 crore during the previous quarter ended March 2009.

For the audited full year, net profit rose 250.00% to Rs. 0.28 crore in the year ended March 2010 as against Rs. 0.08 crore during the previous year ended March 2009. Sales rose 116.67% to Rs. 0.39 crore in the year ended March 2010 as against Rs. 0.18 crore during the previous year ended March 2009.

Source: NDTV Profit
URL: http://profit.ndtv.com/news/show/morarka-finance-net-profit-rises-1650-00-in-the-march-2010-quarter-59875

IF YOU ARE AN INVESTOR

Basic stock market tip

One mistake that most novices make when the stock market prices are high is that these prices would continue to rise. However, this is a wrong view, since the stock market can fluctuate greatly at any time.

Think out of the box

Another thing that you should do in order to be more successful in the stock market is to take the opportunities that other investors give to you. If everyone else is selling their stocks, go out and buy some of theirs. If everyone is buying, sell some of yours.

Diversify your investments

Another recommended step from many stock market tips that you could get to follow is to diversify your investments. Some companies may get to face hard times, and your investments on them may go downhill. That is why it is really recommended that you diversify your investment portfolio.

Allowing your stock to grow

Another stock market tip that you should follow is that you need to allow time for your stocks to grow. When you buy stocks, don’t expect it to rise in value the next day. The value of good stocks usually grows slowly. You should always be patient and wait for the stock to grow in value.

Buy when prices are low

One of the best stock market tips and one that the successful people have followed is to buy stocks when their prices are low and wait until the prices rise. You should try to fix up a reasonable and practical income target.

Curtsey

stockmarketsoup.com

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