Prataap Snacks Ltd. (PSL) is one of the top six Indian snack food companies in terms of revenues in 2016, and among the fastest growing companies in the Indian organized snack market. Of the net proceeds from fresh issue, around Rs. 130mn will be utilized to repayment/pre-payment in full or part of certain borrowings availed by it; Rs. 670mn will be used to fund the capital expenditure requirements; around 294mn would be invested in the fully owned subsidiary company and Rs. 400mn will be utilized for...
towns and low unit packs. The company is among top six players in the Rs220bn organizedsnackssegmentwithYELLOWDIAMONDbrandandmarketleadership in Rings and Puff segment which has competition from PepsiCo, ITC, Parle, Haldiram's and DFM foods. PSL has immense growth potential as it has market...
SBI Life Insurance is the largest private insurer in terms of NBP generated with 20.04%marketshareandhasanAUMofRs977bn.ThecompanyisridingonULIP business(71%APEmix)whichhaslowerregulatoryrisk,lowercapitalrequirement andlongtermopexbenefit,butalsohaslowermarginsandishighlydependenton capitalmarketperformance.SBILifeisincreasinglyfocusingtoimproveprotection business share which is high margin and have moderate opex. Hence,we believe Operating RoEV to remain stable at 23% currently and improve post overrun margins to ~18% by FY19 from currently 15%. At the upper band of Rs700, the...
SBI Life Insurance Company Ltd (SBI Life) is India's largest private life insurer, in terms of New Business Premium generated in each fiscal year, since Fiscal 2010. SBI Life was established as a joint venture between the State Bank and BNPPC in 2001. As of March 31, 2017, State Bank was India's largest commercial bank in terms of deposits, advances and number of branches. Following its recent merger with certain of its associate banks and a non-affiliate bank, with effect from April 1, 2017, State Bank had 24,017 branches and 195 international offices in 36 countries and more than 420 million customers. As of July 31, 2017, SBI Life had a comprehensive product portfolio of 37 individual and group products (of which eight products are group products), including a range of...
SBI Life Insurance Company Ltd. (SBI Life) was formed as a Joint Venture between the State Bank of India and BNPPC in 2001. State Bank of India was India's largest commercial Bank in terms of deposits, advances and number of branches, as of March 31, 2017. BNPPC, an Insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. SBI Life is India's largest private life insurer, in terms of New Business Premium generated in each fiscal year, since FY10. Between FY15 and FY17, its New Business Premium increased at a CAGR of ~35%, which is the highest...
Prataap Snacks is one of the top snack food companies in India and with 27% revenue CAGR between FY13-FY17, it is also one of the fastest growing companies in its sector. It has three product lines i.e. Extruded Snacks, Chips and Namkeen and has brands such as Chulbule and Yellow Diamond. It has 3 manufacturing facilities, 218 distributor..
SBI Life Insurance is a JV between State Bank of India (SBI-70%), and BNP Paribas Cardiff (26%). The insurer's new business premium grew 35% from FY15 to FY17; it has a leadership position with 20% market share in New Business Premium (NBP) in FY17. Outlook & Valuation: We believe the Indian Life Insurance industry is in a phase of hi..
Incorporated in 2000, SBI Life Insurance Company Limited is India based private life insurer. SBI Life Insurance is a joint venture between the State Bank and BNP Paribas Cardif. SBI owns 70.1% of the life insurer. BNP Paribas owns a 26% stake with KKR and Temasek holding the rest. BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas is in top 10 global financial institutions in terms of revenue. As of July 31, 2017, the company had a comprehensive product portfolio of 37 individual and group products (of which eight products are group products), including a...
The Company will not receive any proceeds of the Offer for Sale by the Selling Shareholder. The objects of the Offer are to achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges. The listing of Equity Shares will enhance...
At the higher price band of Rs. 661 per share, SLIC's share is valued at a FY17 Price/Indian Embedded Value (P/IEV) multiple of 4.2x, which is at a premium to its only listed peer ICICI Prudential Life Insurance Company Ltd. (trading at a P/IEV of 3.8x). Below are few key observations of the issue: As per Swiss Re report, the protection gap in India stood at 92% (i.e. USD 8.5tn) in 2014, which was much higher compared to other Asian countries. This means that for USD 100 of insurance protection...
ICICI Lombard General Insurance Co. Ltd. (ILGI) is the largest privatesector non-life insurer in India based on gross direct premium income and company has maintained this position 2004. Company offers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. The distribution channels are direct sales, individual agents, bank partners, other corporate agents, brokers, and online which help it to reach to customers in 618 out of 716 districts across India. Company was farmed...
Incorporated in 2000, ICICI Lombard General Insurance Company Ltd founded as a joint venture with ICICI Bank Limited, is engaged in providing various general insurance products and services in India. It mainly offers fire, engineering, hull, aviation, motor, casualty, health, travel, energy, personal accident, marine, liability, home, rural, and credit insurance products and services. It also provides reinsurance, insurance claims management, and investment management services. It was the largest private sector non life insurer in India based on Gross Direct Premium Income (GDPI) in fiscal year 2017. The company provides services to conglomerates, small and medium enterprises, state and...
The Company will not receive any proceeds from the Offer for Sale by the Selling Shareholder. The objects of the Offer are to achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges. The listing of the Equity Shares will enhance the ICICI...
ICICI Lombard General Insurance Company Ltd. (ILGI) is the largest private sector non-life insurer in India based on gross direct premium income (GDPI) in FY17, a position which it has maintained since FY04....
ICICI Lombard is the largest non-life private sector insurer in India. It is a JV between ICICI Bank and Fairfax Financial Holdings Ltd of Canada. Backed by strong parentage, and under penetration of non-life insurance business in India, the company has been on a strong growth path with its Gross Direct Premium Income growing by 26.7% ove..
Capacite Infraprojects Ltd (CIL) is construction company mainly focused on residential, commercial and institutional building segment. CIL provide end-to-end construction services for residential, mutli-level car parks, corporate office and buildings for educational, hospitality and...
