BHARAT
NIDHI LTD.
COMPLETE DETAILS :-
Valuation: Rs. 58000 To 80000 (Per Share)
Listing Status: Delhi Stock Exchange
Now
Listed In Calcutta stock Exchange
Promoters: Times Group
Shareholding Pattern: All these Shareholders are Times Group
Companies only having 74.05% holding.
T. M. Investment: 37744 eq., Arth Udyog Ltd: 57974 eq.
Investments: -
Quoted:
Hdfc Bank: 2869565 eq. of f.v 2 (300 cr)
Bonds: Rs. 3 cr.
Mutual Funds: 30 cr.
Unquoted:
Bennett Coleman & Co. Ltd: 70041600 eq. (24.41 %) of
Bennett
Bennett Property Holdings Co: Ltd 11673600 eq. f.v 10 (BPHCL
is also having a Huge Valuation)
Arth Udyog Ltd: 90000 eq. (18.36 %) Holding co of Bennett
Ashoka Marketing Ltd: 2000 eq. (13.33 %) Indirect Holding of
Bennett
T. M. Investment Ltd: 140000 eq. (14 %) Holding co of
Bennett
In short we are going to invest in
Bennett Coleman & Co. Ltd. (BCCL)

Bennett Coleman
& Co Ltd has an equity base of 286.96 Crores after bonus of 8:1. There
are only 12 shareholders of the co.
out of which 8 are corporate shareholders namely:
Name of the Shareholder No. of shares
Bharat Nidhi Ltd 70041600 24.41%
PNB Finance & Industries Ltd 52297848 18.22%
Jacranda Corporate Services Ltd
(100 Subsidiary of PNB Finance)
Camac Commercial Co. Ltd 38161548 13.29%
+-Arth Udyog Ltd 26719848 9.29%
Ashoka Viniyoga Ltd 51707916 18.02%
Sanmati Properties Ltd 27981000 9.75%
T.M. Investments Ltd 17093016 5.96%
Vinit Jain 1642248 0 .57%
Sameer Jain 7200 0.002%
Meera Jain 943200 0.365%
Trishla Jain 360000 0.125%
As per the media reports as on May 2008 the value of Bennett
Coleman & Co ltd has been done by a leading
merchant banker at more than $ 30 billion (120000 crores). Also
as per the DRHP of ENIL, which is a subsidiary of BCCL, the Net
Asset Value (N.A.V) of BCCL as on 2005 is Rs. 24,118.2 per share
before bonus (Please refer
to Page no. 120-121 of DRHP of ENIL).

(The copy of the statement of Sh. Vinit
Jain is enclosed)
The Honorable High Court of Bombay vide
its order dated October 14, 2011 has sanctioned the scheme of Arrangement between
the Company and Bennett Property Holdings Company Ltd. (BPHCL, a wholly owned
subsidiary of the Company up to the appointed date) for Demerger of the
Companies real estate business along with related assets and liabilities to
BPHCL with appointed date as April 01, 2011 and effective date as January 01,
2012. The shareholders of the Company were issued 1 share in BPHCL for every 6
shares held in the Company.
(The above extract has taken from the
Balance sheet of the BCCL Page No. 203)
Bennett Coleman & Co Ltd has a growth
history of 35% YoY basis with a EBITA
Margin of 35% and 85% of the total revenue is from advertisements.
The Bennett Coleman Co Ltd Has also increase the ESOP price
form Rs.446 to Rs. 546 in the Financial Year 2011-2012.
According to us the valuation of the operating company Bennett Coleman & Co Ltd can be arrived
only by segregating the past
performances and the future expected revenue growth.
For considering
the value of past performances we can
take the media report as the base to avoid any kind of debate on the valuation
as it has been done by one of the leading merchant bankers of the
world.
Based on the above facts and the holdings
of the Companies and their Investment in multiple businesses we have calculated
the value of the following Companies as given below.
Bharat Nidhi Ltd. Rs.58000 Per share
PNB Finance & Ind. Ltd. Rs. 39800 Per Share
Camac Commercial Co. Ltd. Rs. 105300 Per share
Basis of calculation of share Price:-
Value
of BCCL (70000 Crore) * Total % holding of the shareholder Company %
No of Shares of the Shareholder Company
The value of BCCL based on the statement
of Sh. Vinit Jain, copy of which is already enclosed.
For Example in case
of Bharat Nidhi Ltd.: 70000 crore
*24.41%
2948296
shares
The above price has
been calculated without the cross holdings of the Companies and the calculation
which we have given above only includes the direct holding. With the cross
holdings of the Companies the value of the shares becomes too much higher. For
Example:
Bharat Nidhi ltd holds:-
Company Name
No of shares % Holding
Bennett Coleman 70041600
24.41 %
T.M investment
140000
14 %
Arth Udyog
90000
18.36 %
Ashoka Marketing
2000 13.33 %
Bennett Property
11673600
Notes: T.M investment, Arth Udyog is direct holdings co. of
Bennett Coleman similar to Bharat Nidhi. We calculated only 70041600 eq shares
of Bennett in the valuation of Bharat Nidhi.
We can view some investments at
http://www.brandcapital.co.in/our-portfolio/equity-portfolio
BRANDS
There is a lot of valuation in ecommerce
business also. Prior the valuation of ecommerce business was not open but now a
days with the arrival of flipkart,snapdeal and other ecommerce business ideas
opened market place and huge valuations. Future of such these industries seems
very bright. We can check the ranking of times group at
Just enter the website name and check
ranking.
Report Pulished in TOI.
http://economictimes.indiatimes.com/news/news-by
-company/corporate-trends/bccl-
named-as-one-of-indias-local-dynamos-figures-alongside-
flipkart-and-indigo
-in-bcg-report/articleshow/43192718.cms
Thanks
& Regards
Manish Mittal
Director
Mittal Portfolios Pvt Ltd.
09215709100
mittalmanish2003@yahoo.com
info@mittalportfolios.com
Manish Mittal
Director
Mittal Portfolios Pvt Ltd.
09215709100
mittalmanish2003@yahoo.com
info@mittalportfolios.com
We are an Investor and traders of
Highly Valuable Antique Shares of different Companies. We can also try for these types of Antique Highly Valuable shares for the desired Investor and can provide the available quantity
to the desired Investors.
Please note that the Price and the
Quantity will be depend on the availability of shares in the Market.
NOTE:- All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )
Pl refer to SEBI circular
ReplyDeletehttp://www.sebi.gov.in/cms/sebi_data/attachdocs/1476076928746.pdf and CSE notice
http://www.cse-india.com/new_web/news/newsdetail.php?action=detail&tab=1&%20%20eventID=%201695
It appears from the above that now Bharat Nidhi and Benett Coleman have three months w.e.f. 10th October 2016 to either submit action plan of their intention to comply with listing or provide exist route to investors. Thereupon, concerned stock exchange has to ensure completion of process within 6 months. It indicates that by 10th July 2017, there should be some realistic price appearing in the market for Benett Coleman and other group companies holding their BCCL shares.