Financial Performance For FY24, the company reported a total income of ₹2.96 Cr, a decline from ₹3.43 Cr in FY23, likely due to fluctuations in investment returns. Total expenses remained stable at ₹2.03 Cr, compared to ₹2.02 Cr in the previous year, indicating controlled operational costs despite lower income. However, on a consolidated basis, the company faced a significant loss of ₹9.27 Cr, primarily driven by its ₹10.20 Cr share in the losses of associates, which heavily impacted the overall financial performance. Operational Highlights Camac operates as a Type-1 NBFC, meaning it does not accept deposits or engage in direct customer interactions, thus avoiding the typical credit risks associated with lending institutions. Its income primarily stems from investments rather than traditional financing activities. Camac has proposed amendments to its Memorandum of Association (MOA) and Articles of Association (AOA) to align with its investment-focused business model and adhere to regulatory requirements. These changes aim to accurately reflect its current operations and ensure compliance with the Companies Act, 2013, and Reserve Bank of India (RBI) guidelines. Challenges and Strategic Outlook The company's revenue decline, driven by a drop in total income and significant losses from associate companies, presents a major challenge. To address this, the company should focus on **portfolio optimization**, particularly by mitigating risks associated with its associates. Its conservative strategy, centered on safe investments such as NCDs, mutual funds, and listed equities, reflects a prudent approach suited for volatile markets. Additionally, recent amendments to the MOA and AOA signal an effort to restructure for greater operational clarity and efficiency, a positive indicator for investors seeking transparency and strong corporate governance.

Camac Commercial announced its FY24 results

Financial Developments: On a consolidated basis, UCL reported a total comprehensive income of ₹354.12 Cr, with a consolidated net worth of ₹2,022.90 Cr, showcasing its strong capital reserves and solid financial health. USFBL, its banking arm, saw significant growth, with its loan portfolio increasing by 31.11% to ₹18,299 Cr and deposits rising by 27.44% to ₹17,473 Cr, reflecting robust expansion in both assets and liabilities. The bank's net profit grew by 23% to ₹497.63 Cr, while asset quality improved, with gross NPAs dropping to 2.51% and net NPAs to a minimal 0.03%. Additionally, USFBL maintained operational efficiency with a cost-to-income ratio of 56.4%, and its CRAR of 22.6% underscores a strong capital buffer to handle future risks. Operational Developments:The bank continued its aggressive branch expansion, operating 888 branches across 26 states and Union Territories, with a significant focus on rural and semi-urban areas. A large portion of these are micro-banking branches, serving underserved communities. USFBL’s core strategy centers on financial inclusion, targeting over 45 lakh customers, particularly women entrepreneurs, low-medium income households, and MSMEs. Notably, 60% of its gross loan portfolio comes from financially underserved regions, especially in states like Bihar, Uttar Pradesh, and Jharkhand.&nbsp;Diversification in retail loans gained momentum, with non-microfinance lending growing to 38.18%, driven by MSME loans, housing finance, and commercial vehicle/construction equipment loans. The housing loan portfolio grew by 30% to ₹677 Cr, and MSME lending surged by 66.68%, reflecting the bank's long-term growth strategy in these sectors. Outlook and Strategy: USFBL focused on building a more granular deposit base, with an emphasis on retail deposits. As a result, CASA and retail term deposits grew to 66.11% of total deposits. The bank also continued diversifying its asset portfolio by increasing non-microfinance lending, which helps reduce concentration risk in the micro-banking segment. Strong credit monitoring and governance frameworks are reflected in industry awards and a notable reduction in NPAs, underscoring the bank's commitment to robust risk management practices as it expands its loan book.

Utkarsh Coreinvest Ltd. announced its FY24 results

Financial Performance The company reported a consolidated gross income of ₹18,198 Cr, reflecting a 33.44% increase from ₹13,637 Cr in the previous fiscal year. Profit after tax rose 4% to ₹3,327 Cr, up from ₹2,947 Cr. The loan book expanded by 35%, reaching ₹1,57,761 Cr by the end of FY24. Tata Capital achieved a major milestone with disbursements exceeding ₹1 lakh Cr, totaling ₹1,05,244 Cr, marking a 40% year-over-year growth. Consolidated net interest margin (NIM) and other revenues grew 22.64% to ₹8,630 Cr, driven by a larger loan portfolio. In terms of asset quality, gross NPA declined to 1.47% from 1.71%, while net NPA decreased to 0.38% from 0.40%, with a healthy provision coverage ratio of 74.12%. Operational Developments The company expanded its branch network to 723 from 438, with 92% located in non-metro areas, driving its customer base growth to 4.5 million from 3.3 million the previous year. Retail and SME loans accounted for over 85% of the loan book, contributing to a diversified portfolio, with retail loans reaching ₹1,00,051 Cr and SME loans at ₹37,293 Cr. Tata Capital strengthened its digital-first approach, with 97% of customers onboarded digitally and 92% of collections handled through digital channels. Investments in AI and automation enhanced services such as chat-based customer support and marketing automation. Key product initiatives included the launch of education loans for domestic and international students and a loan origination system tailored for SMEs. Additionally, the merger of Tata Capital Financial Services Limited (TCFSL) and Tata Capital Cleantech Limited (TCCL) into Tata Capital Limited consolidated operations, improving efficiency and capital strength.

Tata Capital announced its FY24 result

The upcoming&nbsp;&nbsp;NSE IPO (National Stock Exchange)&nbsp;is one of the most anticipated public offerings in recent times, creating significant buzz among investors. With the National Stock Exchange securing approvals from the Securities and Exchange Board of India (SEBI) and shareholder approval for issuing bonus shares in a 4:1 ratio, the interest in the company’s unlisted shares has surged dramatically. The NSE has been a cornerstone of India's financial infrastructure since its inception. Over the years, it has revolutionized the way trading is conducted in the country, introducing electronic trading and bringing transparency to the market. The exchange has been prepared meticulously, ensuring that all regulatory and financial prerequisites are met. Company Overview: The Backbone of India's Financial Markets Founded in 1992, the NSE has transformed into a vital institution in India's financial landscape. It introduced fully automated, electronic trading, making stock trading more transparent and efficient. The exchange operates multiple market segments, including equity, derivatives, currency, and debt, serving investors of all sizes—ranging from retail traders to large financial institutions. Over the years, the NSE has consistently maintained its position as the leading exchange in India, with trading volumes far surpassing its competitors. Its robust infrastructure and commitment to innovation have allowed it to cater to the growing demands of India’s rapidly expanding economy. Today, NSE is not only synonymous with market efficiency but also represents a highly profitable entity with significant growth potential. NSE Revenue Segmentation The NSE generates revenue from numerous key segments, with derivatives trading being the biggest contributor. NSE India dominates the derivatives marketplace, holding 100% market share in this phase in the country. NSE is the most important exchange globally for derivatives trading. Over 90% of NSE’s total revenue comes from this phase, which highlights its critical position in the exchange's business. Another vital revenue stream for NSE comes from providing services to numerous market participants like agents, investors, and institutional investors. Through its platform, these participants can trade numerous securities, together with stocks, bonds, derivatives, and exchange-traded price range (ETFs). NSE additionally earns revenue from presenting colocation services. These services offer trading participants with physical proximity to the exchange’s servers, letting them execute trades at quicker speeds. This is important for high-frequency and aggressive traders and institutional clients who rely on speed to capitalize on market moves. <div class="se-component se-image-container __se__float-justify"><figure style="width: 752px;"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdzBRR3ZeHugDD7ZzwRl5gChY2RASHazx9Fpqtc_nI57Br2Td-XIbcooWcSlrCEuoxcIvdjpZ5JugzZk_KIq0FkxNwFeYWI7RrvdOYvkVpQ0DrMnUUSRBE3A5w-qBlO3-Fzll-w510HGVVVJFfKyLhKNAU?key=wZcErIU4LKRmLy-sD1Gd4w" alt="" data-proportion="true" data-size="752px,505px" data-align="justify" data-file-name="AD_4nXdzBRR3ZeHugDD7ZzwRl5gChY2RASHazx9Fpqtc_nI57Br2Td-XIbcooWcSlrCEuoxcIvdjpZ5JugzZk_KIq0FkxNwFeYWI7RrvdOYvkVpQ0DrMnUUSRBE3A5w-qBlO3-Fzll-w510HGVVVJFfKyLhKNAU?key=wZcErIU4LKRmLy-sD1Gd4w" data-file-size="0" origin-size="752,505" data-origin="752px,505px" style="margin-left: 0px; margin-top: 0px; width: 752px; height: 505px;"></figure></div> NSE&nbsp; Unlisted Share Price Trends As of these days, <a target="_blank" href="https://www.planify.in/research-report/national-stock-exchange/">NSE unlisted shares</a> are trading at about ₹6,200 per share, an extensive jump from ₹3,200 lower back in February. This growth may be attributed to multiple elements, including confined supply and strong demand, specifically from high net-worth individuals (HNIs), family offices, and institutional investors trying to capitalize on the long-term potential of this blue-chip enterprise. The market excitement around the NSE pre-IPO shares are well-based, specifically with the IPO on the horizon. Experts predict that after the issuance of bonus shares, the price per share could drop to around ₹1,200-₹1,400.&nbsp; What Makes the NSE IPO So Anticipated? The NSE's IPO is greater than just some other listings on the platform. It’s an opportunity&nbsp; for investors to own a piece of the group that has ruled India’s financial markets for over&nbsp; a long time. The NSE share price is predicted to reflect the robust fundamentals of the company, with analysts predicting the IPO price to exceed ₹1,600&nbsp; post-bonus. ﻿NSE's dominance within the equity and derivatives segments offers it a solid revenue base, and the exchange keeps growing in trading volumes, in particular inside the F&amp;O segment. NSE’s position because the dominant exchange in India and its technological management should allow it to command a premium over its competitors once it goes public. For long-term investors, NSE’s IPO represents an opportunity to invest into a commercial enterprise that has not most effectively grown its revenue but has also played a key function inside the economic improvement of India. NSE Competitive Landscape across various Products for year 2023​<div class="se-component se-image-container __se__float- __se__float-center" style="width: 75%; min-width: 100%"><figure style="width: 75%;"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfPR5MIBf_o2LHUH7AFc6Uj5lAGajO7NsQg3o4-Q0aXPEVrlXu1R2jyg_WikH-Hm7qiDi5_4MVoI3hbsmkmGzn9nK3Nb8nHcg3ff6YZv8gPXCgHz8jMqntpvkMPVau7yVxfVLZDEsL5pOVVw88WgT-2_BY?key=wZcErIU4LKRmLy-sD1Gd4w" alt="" data-proportion="true" data-align="center" data-file-name="AD_4nXfPR5MIBf_o2LHUH7AFc6Uj5lAGajO7NsQg3o4-Q0aXPEVrlXu1R2jyg_WikH-Hm7qiDi5_4MVoI3hbsmkmGzn9nK3Nb8nHcg3ff6YZv8gPXCgHz8jMqntpvkMPVau7yVxfVLZDEsL5pOVVw88WgT-2_BY?key=wZcErIU4LKRmLy-sD1Gd4w" data-file-size="0" data-origin="," data-size="75%," data-rotate="" data-percentage="75," origin-size="1168,694" style="margin-left: 0px; margin-top: 0px; width: 100%;"></figure></div> ​Financial Performance and Investor Appeal The NSE has shown impressive financial performance through the years. With a strong revenue stream from transaction fees, listing fees, and data services, the exchange has maintained a healthy profit margin. The growing <a href="https://www.planify.in/research-report/national-stock-exchange/">NSE Share Price</a> is a reflection of this sturdy financial health. Additionally, the exchange's strategic investments in generation and infrastructure have placed it well for future growth. HNIs and institutional investors are specially bullish at the NSE stock for its capability to deliver steady returns over a 5-10-yr horizon. The exchange’s strong fundamentals, endured increase in trading volumes, and its dominant role within the market make it a surprisingly sought-after investment, specifically within the run-as much as its IPO. <div class="se-component se-image-container __se__float-justify"><figure style="width: 752px;"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdhg_XPMRiK6zlL_Eq3mzo-UU2cdsyT-qCx0on1Oiu4D9f43Hyw7e3Nxq4rss44Uitsesf6IRf5XbXbqoXfnwRfqQ0_vvmOG9hquUxpVPMcqj42FzNgR4WbBjTGmEM0Uj2IVlo_53vcRM7uJiOKECDh_zp6?key=wZcErIU4LKRmLy-sD1Gd4w" alt="" data-proportion="true" data-size="752px,574px" data-align="justify" data-file-name="AD_4nXdhg_XPMRiK6zlL_Eq3mzo-UU2cdsyT-qCx0on1Oiu4D9f43Hyw7e3Nxq4rss44Uitsesf6IRf5XbXbqoXfnwRfqQ0_vvmOG9hquUxpVPMcqj42FzNgR4WbBjTGmEM0Uj2IVlo_53vcRM7uJiOKECDh_zp6?key=wZcErIU4LKRmLy-sD1Gd4w" data-file-size="0" origin-size="752,574" data-origin="752px,574px" style="margin-left: 0px; margin-top: 0px; width: 752px; height: 574px;"></figure></div> The Bonus Share Issuance: A Boost for Investors The upcoming 4:1 bonus share issuance is any other key driving force of interest. With SEBI’s nod of approval and subsequent shareholder backing, the bonus shares are expected to in addition growth liquidity and make the stocks greater accessible to a much broader investors. Market participants accept as true with that post-bonus, the decreased share price will create extra buying opportunities, using demand even better. Once the bonus stocks are distributed, and the company acts towards its IPO, analysts estimate that the NSE IPO price ought to exceed ₹1,600 per share, reflecting the robust fundamentals and increase in demand. Risks and Considerations Despite the positive&nbsp; outlook, there are some risks related to the NSE Pre IPO phase. The&nbsp; litigation on the colocation case and uncertainty based on regulatory stance at the futures and options segment are key risks to the pricing today. However, NSE’s function as a dominant exchange versus its listed counterpart can reinforce the case for it to trade at a top class to peers. Conclusion The NSE's upcoming IPO provides a sizable opportunity for long-term investors, with the National Stock Exchange poised for consistent growth in the Indian financial markets. While the recent surge within the NSE share price and interest in unlisted shares indicates sturdy demand, investors want to remain cautious and remember the long-term fundamentals of the company. As the IPO date processes, there might be greater readability on pricing and demand, but for now, the important takeaway is that NSE’s stock is in high demand for a good cause. The company's dominant position, growing trading volumes, and bonus share issuance make it a compelling preference for the ones seeking to invest in one of India’s foremost economic establishments.&nbsp;

﻿The upcoming NSE IPO (National Stock Exchange) is one of the most anticipated public offerings, developing substantial buzz among investors. With the National Stock Exchange securing approvals from the Securities and Exchange Board of India (SEBI)

National Stock Exchange edging closer to its much-anticipated IPO

​<a target="_blank" href="https://www.planify.in/research-report/indofil-industries-limited/">Indofil Industries Ltd.</a>, a prominent player in the agrochemicals and specialty chemicals industry, presents a compelling investment case due to its significant holdings in Godfrey Philips India Ltd. and Modi Rubber Ltd. This analysis explores the company's intrinsic value and potential undervaluation. Key Investment Holdings:<ol type="1"><li>Godfrey Philips India Ltd.: Indofil Industries holds 65,45,020 shares of Godfrey Philips India Ltd. (CMP: ₹8235/share). The value of this holding stands at approximately ₹5389.8 crore.</li><li>Modi Rubber Ltd.&nbsp;&nbsp; &nbsp; &nbsp;Additionally, the company holds 2,15,311 shares of Modi Rubber Ltd., valued at ₹143/share, amounting to around ₹3.02 crore.</li></ol><ul><li>As of May 23, 2024, the total listed investment value of Indofil’s holdings in these two companies is ₹5392.9 crore.&nbsp;Outstanding Shares and Intrinsic Value Per Share.&nbsp;Indofil Industries has 2.29 crore outstanding shares. The intrinsic value of Indofil Industries per share comes out to approximately ₹2349/share, by only considering the investment value in Godfrey Philips and Modi Rubber.</li><li>However, the company is currently trading at ₹1340/share, which reflects a significant discount of 43% from its intrinsic value. </li><li>Broader Financials: Asset Value and Market Cap:For FY23, Indofil Industries’ total assets stood at ₹4132.56 crore, while the company’s current market capitalization is around ₹3076 crore. This translates to a further 26% discount in market valuation based on its asset base.</li><li>Valuation Estimate: Combining Investment and Core Business:&nbsp;Indofil’s considerable stake in Godfrey Philips is worth ₹5400 crore, and when combined with its FY23 profitability (a PAT of ₹241 crore), applying a 20x multiple to earnings gives an estimated valuation of ₹12,000 crore. Based on this valuation, the expected price per share of Indofil Industries could be as high as ₹5200/share, showcasing significant upside potential compared to the current trading price of ₹1340/share.</li><li>Conclusion: A Strong Investment Opportunity:&nbsp;Indofil Industries Ltd. is evidently trading at a substantial discount, both in terms of its intrinsic value based on investment holdings and its core asset value. With an expected target price of up to ₹5200/share, investors seeking value in the market should seriously consider the stock, particularly given the combination of its strategic investments and the potential for growth in its core business.</li><li>This discrepancy between the company’s market price and its intrinsic value presents a compelling opportunity for value investors seeking long-term gains.</li></ul>

A Deep Dive into Indofil Industries Ltd.: Intrinsic Value Analysis

Kotak Mahindra Asset Management Company Ltd (KMAMC), acting as the investment manager for Kotak Mahindra Mutual Fund, is offering to sell up to 19,73,000 unlisted equity shares&nbsp;of Chennai Super Kings Cricket Ltd. held by the Kotak Equity Savings Fund. Interested and eligible investors are invited to submit their expressions of interest or bids by sending an email to csk@kotak.com by September 30, 2024. The bids will be valid for 30 days from the bid closure date. Bidders are required to provide specific information in their submission, including the bid price in INR per share, the number of shares they wish to purchase (with a minimum quantity of 10,000 and in multiples of 1,000), and contact information. Additionally, bidders must declare their eligibility, the accuracy and legality of the provided information, their compliance with all applicable laws and regulations, and their agreement to cooperate with any regulatory inquiries. KMAMC reserves the right to reject any bid if it is incomplete, ambiguous, or if any provided information is found to be false or misleading. The document also outlines the KMAMC's authority to reject bids, amend procedures, and maintain the confidentiality of the received bids. Employees of KMAMC and their relatives are not eligible to participate in the bidding process.

Kotak Mahindra Mutual Fund Offers Shares of Chennai Super Kings for Sale

​﻿﻿HDFC Bank, one among India's biggest private region banks, is getting ready for a milestone with the initial public offering (IPO) of its non-banking financial arm, HDB Financial Services. The HDB Financial Services IPO is predicted to raise between $9 to $10 billion (₹78,000–87,000 crore), making it one of the largest IPOs within the Indian economic sector. Scheduled for late 2024, this IPO will considerably impact HDFC Bank's capital base and the broader NBFC panorama.​ ​Company Background and Valuation ﻿HDB Financial Services is the financial institution in the non-banking financial company (NBFC) sector. With a net worth of around ~₹13,300 crore from the June quarter FY24. The expected valuation translates to an estimated 4.5X-5x price to book value. Current Market Performance of HDB Financial Services As of now, HDB Financial Services holds a sizable presence in India’s NBFC space, providing a range of financial products along with loans for personal, commercial business, and asset financing. Its unlisted shares have attracted enormous interest from investors. The HDB financial services share price&nbsp;within the unlisted market is presently ₹1,260 per share, with a face value of ₹10 per share. Investors are keen at the <a target="_blank" href="https://www.planify.in/research-report/hdb-financial-services-limited/">HDB unlisted share price</a>, spotting the surge in growth main up to the IPO. The HDB financial IPO price is expected to be an essential part to determine the success of the IPO. HDFC Bank's strategic move to list HDB Financial Services&nbsp;aligns with the Reserve Bank of India's (RBI) policies, which mandate that all "Upper Layer" NBFCs have to be listed on mainboard within three years of being notified. This listing is not just a regulatory requirement but additionally a strategic step to liberate value for shareholders. ​<div class="se-component se-image-container __se__float- __se__float-center" style="min-width: 100%; width: 75%"><figure style="width: 75%;"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfJwxqJ9ERW7HSE9cyGXP9Wt41bIyEvLHCFe1Tbv_uvKERcmYdv-Vd3CZBXvo3JHyjzQ_FZMOrLmPk6H3eTxf4OlsUkaE0LxUSXmRcw9NY8Mti-15gH7iE5CYX38qLwmp9dkJr7cEOz1fG2ON1iZS_-Dmr6?key=7w2yYroEN9eZls0jKzvdFw" alt="" data-proportion="true" data-size="75%," data-align="center" data-file-name="AD_4nXfJwxqJ9ERW7HSE9cyGXP9Wt41bIyEvLHCFe1Tbv_uvKERcmYdv-Vd3CZBXvo3JHyjzQ_FZMOrLmPk6H3eTxf4OlsUkaE0LxUSXmRcw9NY8Mti-15gH7iE5CYX38qLwmp9dkJr7cEOz1fG2ON1iZS_-Dmr6?key=7w2yYroEN9eZls0jKzvdFw" data-file-size="0" origin-size="975,555" data-origin="942px,536px" data-rotate="" data-percentage="75," style="margin-left: 0px; margin-top: 0px; width: 100%;"></figure></div>​ HDB Financial Services: Financial Performance <a target="_blank" href="https://www.planify.in/article/hdb-financial-services-a-comprehensive-overview/">HDB Financial Services</a> has steady growth in its Assets Under Management (AUM), reflecting its capability to expand its loan portfolio and diversify its assets. AUM is an important indicator of an NBFC's scale, representing the overall marketplace value of assets managed on behalf of customers. The upward push in AUM underscores HDBFS's growing consumer base and strong market presence. HDB executed a 28.75% growth in AUM, signifying the excessive level of trust customers have in their services and products. Additionally, HDB Financial Services holds top-tier credit score ratings, with CARE AAA and CRISIL AAA for long-term debt and centers, and an A1 score for short-term debt and Commercial Papers. <div style="margin-left:0pt"><table><tbody><tr><td>Financials (in ₹ Cr.)</td><td>FY22</td><td>FY23</td><td>FY24</td></tr><tr><td>Revenue</td><td>5,522</td><td>7,573</td><td>8,318</td></tr><tr><td>Profit after Tax (PAT)</td><td>1,011</td><td>1,959</td><td>2,460</td></tr><tr><td>EBITDA</td><td>1,446</td><td>2,739</td><td>3,449</td></tr><tr><td>AUM</td><td>61,444</td><td>70,084</td><td>83,989</td></tr><tr><td>EPS( ₹)</td><td>12</td><td>24</td><td>31</td></tr></tbody></table></div>

International and Domestic Bankers Involved HDFC Bank has shortlisted several leading financial institutions to manage the <a target="_blank" href="https://www.planify.in/article/hdfc-sets-stage-for-hdb-financial-services-ipo-listing-nbfc-arm-ahead/">HDB Financial Services IPO</a>. Prominent international banks such as Morgan Stanley, Bank of America, Nomura, and UBS Securities have been chosen to lead the IPO process. On the domestic front, ICICI Securities, Axis Capital, and IIFL will be involved in the offering. Once the final bankers are appointed, the company is expected to file the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) within a month. Pre-IPO Preparations This will help the bank meet its capital requirements and pursue in addition increase opportunities, specifically after its current merger with HDFC Ltd. Moreover, the IPO comes at a time when non-banking financial companies in India are experiencing a big boom, pushed with the aid of rising demand for credit scores from underserved segments like small companies and individuals. The IPO will offer HDB Financial Services with the capital required to increase its lending operations and diversify its product services. Conclusion The upcoming IPO of HDB Financial Services could be a landmark event in the financial market. With its strong financials, market position, and strong support from HDFC Bank, the company is well-prepared for the IPO. Investors are keenly expecting the pricing and allotment details, mainly for high-demand classes like institutional investors. For those considering investing in HDB Financial Services, the IPO represents an opportunity to tap into a growing NBFC that has already shown significant potential in the Indian financial market. As the company heads towards a possible ₹9-10 billion listing, market participants will be eager to see how the HDB financial IPO price compares to the unlisted price and what growth opportunities lie ahead post-listing.

HDFC Bank Sets Sights on $9-10 Billion HDB Financial Services IPO in 2024

Lotte India FY24 Results Update:<ul><li>Revenue and Profitability- The company's revenue grew by 13.6%, rising from Rs. 599 cr. in FY23 to Rs. 680 cr. in FY24, driven by increase in sale of choco pie and candies. This led to a significant 1,868.4% increase in profits, from a loss of Rs. 1 cr. in FY23 to profit of Rs. 22 cr. in FY24, which in turn boosted the EPS from Rs. (-1) in FY23 to Rs. 16 in FY24.</li><li>Financial Position- The company's total asset base decreased slightly by 0.8%, from Rs. 886 cr. in FY23 to Rs. 879 cr. in FY24, mainly due to a decrease in cash and cash equivalents owing to reduced deposits with less than 3 months maturity. On the other hand, total equity grew from Rs. 640 cr. in FY23 to Rs. 662 cr. in FY24, driven by an increase in retained earnings driven by higher net profit.</li><li>Future Prospects- Despite challenges in the FMCG industry due to unpredictable weather affecting agricultural output in FY23-24, the company remains optimistic about its future growth. To expand its consumer base and boost consumption, it has introduced new products, Choco Burst and Orange Pie. Additionally, the company has increased its manufacturing capacity to further grow its Choco Pie segment. The company is planning to expand production capacity for its popular Coffy Bite and Coconut Punch candy brands in the near future. </li></ul>Lotte India &amp; Havmor Merger: The Board of Directors, in their meeting on July 29, 2024, approved the merger of Havmor Ice Cream Private Limited (Transferor) with Lotte India Corporation Limited (Transferee), subject to shareholder and National Company Law Tribunal (NCLT) approval. The merger is expected to boost business synergies by optimizing the supply chain, improving operations, reducing costs, and simplifying statutory and regulatory compliance. The company has submitted the necessary application to the NCLT for this purpose. Notice of Scheme of Arrangement Between Havmor Ice Cream Private Limited and Lotte India Corporation Limited:<ul><li>Notice is hereby given that a Meeting of the Equity Shareholders of the Lotte India Corporation Limited (Transferee Company) will be held for the purpose of their considering, and if thought fit, approving, with or without modification, the proposed Scheme of Arrangement between the Havmor Ice Cream Private Limited (“Transferor Company”) and the Transferee Company and their respective Shareholders and Creditors (“Scheme”) on October 12, 2024 at 02.00 P.M. (IST) at 22b, 2nd Floor, Commerce House – 4, Beside Shell Petrol Pump, Prahaladnagar, Ahmedabad, Gujarat – 380015, registered office of the Company (deemed venue) (“Meeting”). •The Equity Shareholders shall have the facility and option of voting on the resolution for approval of the Scheme by casting their votes (a) through e-voting system available at the Meeting to be held virtually on October 12, 2024 at 02.00 P.M. (IST) till the conclusion of the Meeting (“E-voting at the Meeting”); or (b) by remote electronic voting (“Remote e-voting”) during the period as stated below: </li></ul> <table><tbody><tr><td colspan="2">Remote e-voting period</td></tr><tr><td>Commencement of voting</td><td>Wednesday, October 09, 2024 at 09:00 A.M. (IST)</td></tr><tr><td>End of voting</td><td>Friday, October 11, 2024 at 05:00 P.M. (IST)</td></tr></tbody></table>

Lotte India Corporation Limited FY24 result update and notice of scheme of arrangement between Havmor Ice Cream Private Limited and Lotte India Corporation Limited

Financial Performance:Total revenue of <a href="https://www.planify.in/research-report/incred-holdings-share-price/">Incred Holdings</a> increased to Rs.4.9 Cr from Rs.1.1 Cr in the previous year. The company reported a loss of Rs.4.8 Cr after tax, compared to Rs.1 Cr in the last year. As a holding company, it has seen a 21% growth in its asset base to Rs.3,009 Cr in FY24. Operational Development:In FY24, the company raised ₹500 crores through a preferential issue by issuing 37,037,037 equity shares at ₹135 per share. During the year, employees exercised 9,545,137 stock options under the Employee Stock Option Scheme. On September 13, 2023, Mr. Gaurav Trehan resigned as a Non-Executive Director and was succeeded by Mr. Anil Nagu. Additionally, Ms. Nikita Shetty was appointed as the Company Secretary and Compliance Officer, replacing Mr. Gajendra Thakur. The company also appointed Deloitte Haskins &amp; Sells as the new Statutory Auditor, replacing S.R. Batliboi &amp; Associates LLP, in alignment with the auditors of other group companies.

Incred Holdings announced its FY24 results

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