8/8/2019 Balance Sheet of India Bulls

1/3

providing Home Loans, Loans Against Property, Commercial vehicle Loans and

Commercial credit to prime corporate. The company boasts a net worth of about USD 1

billion with an asset book of over Rs. 17,000 Cr and has cumulatively disbursed over Rs.40,000 Cr to date. Amongst its financial services and banking peers, Indiabulls Financial

Services Ltd. ranks amongst the top few companies both in terms of net worth and capital

adequacy. The companys strength has been acknowledged and underlined by ratingagencies that have consistently accorded high ratings to it. Indiabulls Financial Services

Ltd is rated LAA by ICRA (an associate of Moodys Investors Service) and AA+ by

CARE Ratings. The company has also seen a healthy growth in terms of reach and istoday present in over 90 cities and towns, which it services through 140 branches.

Indiabulls Real Estate is one of India's largest listed developers currently developing 57

million square feet of residential and commercial real estate. IBREL has an additional

land bank in excess of 3,050 acres. IBREL's strategy is to be a focused regional player.

More than 90% of IBREL's portfolio by value is in the three major markets of Mumbai,NCR and Chennai. IBREL's has acquired land in excess of Rs. 3,000 crores through

government land auctions alone over the past five years. IBREL has delivered a record3.3 million SF developed space valued in excess of Rs. 7,000 crores (within 4 years of

inception). This would be fastest and largest delivery in value terms by any Indian real

estate developer in the same time period. IBREL's flagship 7 million SF high-endresidential and commercial development in Central Mumbai has won awards for the best

office property and has leading international and Indian firms as tenants.

Indiabulls Power is developing over 6,600 MW of power generating capacity acrossIndia. Execution on 5,400 MW of coal based thermal power at Nashik and Amravati inMaharashtra amounting to a capital expenditure of Rs. 28,000 crores is already in full

swing with land, water, coal and environmental clearances in place. Work is being

executed by leading Indian and international suppliers and contractors such as BHEL,L&T, ABB, Areva, Gammon, GDC, Kirloskar and Shapoorji Pallonji.

Indiabulls Securities is one of India's leading capital markets company providing

securities broking and advisory services. ISL also provides depository services, equity

research services and IPO distribution to its clients and offers commodities tradingthrough a separate company. These services are provided both through on-line and off-

line distribution channels. ISL is a pioneer of on-line securities trading in India. ISL's in-

house trading platform is one of the fastest and most efficient trading platforms in thecountry.

8/8/2019 Balance Sheet of India Bulls

2/3

(Rs crore)

Ratios

Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06

Per share ratios

Adjusted EPS (Rs) 8.03 7.16 14.63 7.67 4.63

Adjusted cash EPS (Rs) 8.26 7.43 14.87 7.73 4.65

Reported EPS (Rs) 8.27 6.88 14.71 7.72 4.63

Reported cash EPS (Rs) 8.51 7.15 14.95 7.79 4.65

Dividend per share 5.00 2.00 8.50 3.00 1.80

Operating profit per share (Rs) 29.94 47.66 37.69 16.10 10.84

Book value (excl rev res) per share (Rs) 130.83 120.26 115.88 54.35 61.36

Book value (incl rev res) per share (Rs.) 130.83 120.26 115.88 54.35 61.36

Net operating income per share (Rs) 45.85 70.22 52.31 19.22 13.20

Free reserves per share (Rs) 121.10 110.91 108.03 49.58 58.06

Profitability ratios

Operating margin (%) 65.30 67.87 72.05 83.77 82.12

Gross profit margin (%) 64.78 67.49 71.60 83.42 81.98

Net profit margin (%) 18.58 10.67 28.81 43.41 35.10

Adjusted cash margin (%) 18.56 11.45 29.11 43.46 35.23

Adjusted return on net worth (%) 6.13 5.95 12.62 14.10 7.55

Reported return on net worth (%) 6.32 5.72 12.69 14.21 7.55

Return on long term funds (%) 13.00 18.17 13.12 19.30 17.64

Leverage ratios

Long term debt / Equity 0.74 1.17 1.46 0.53 -

Total debt/equity 1.71 2.14 3.76 1.23 1.04

Owners fund as % of total source 36.85 31.84 20.99 44.78 48.97

Fixed assets turnover ratio 29.92 40.23 29.97 19.59 12.96

Liquidity ratios

Current ratio 10.15 20.32 12.17 13.23 24.57

Current ratio (inc. st loans) 1.97 2.07 1.73 1.66 1.32

Quick ratio 10.11 20.20 12.13 13.18 24.54Inventory turnover ratio - - - - -

Payout ratios

Dividend payout ratio (net profit) 71.00 35.54 68.88 46.27 44.61

Dividend payout ratio (cash profit) 69.01 34.20 67.78 45.86 44.43

Earning retention ratio 26.83 65.84 30.73 53.38 55.37

Cash earnings retention ratio 28.93 67.08 31.85 53.79 55.55

8/8/2019 Balance Sheet of India Bulls

3/3

Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06

Coverage ratios

Adjusted cash flow time total debt 26.32 31.23 28.24 5.74 13.74

Financial charges coverage ratio 1.74 1.27 2.48 4.59 2.70

Fin. charges cov.ratio (post tax) 1.51 1.21 2.01 3.40 2.16

Component ratios

Material cost component (% earnings) - - - - -

Selling cost Component 0.65 0.41 0.41 0.20 0.39

Exports as percent of total sales - - - - -

Import comp. in raw mat. consumed - - - - -

Long term assets / total Assets 0.08 0.14 0.02 0.31 0.31

Bonus component in equity capital (%) 24.82 30.33 30.35 41.97 48.01

Shareholding pattern - Indiabulls Financial Services Ltd.

Holder's Name No of Shares % Share Holding

Promoters 100555118 32.40%

ForeignInstitutions 115221988 37.13%

GeneralPublic 29509547 9.51%ForeignOthers 18882254 6.08%

OtherCompanies 17013806 5.48%

NBanksMutualFunds 11920585 3.84%Others 8253778 2.66%

ForeignOcb 7326080 2.36%

ForeignNRI 1530502 0.49%FinancialInstitutions 127970 0.04%