ARSHIYA INTERNATIONAL
FTWZs to Add Growth
COMPANY PROFILE
Arshiya International, India’s first company which provides Free Trade Warehousing Zone (FTWZ), and is also engaged in providing end-to-end logistics and supply chain solutions to customers across the world. The company's offices are located at Singapore, Australia, Dubai, Qatar, Oman and the United States.
The company offers solutions in areas of innovative technology, business process outsourcing, supply chain, demand chain and financial flow management services. It operates its business activities through its subsidiaries namely Arshiya Hong Kong, Cyberlog Technologies International Pte and Genco (India).
Arshiya’s biggest achievement is developing India’s first Free Trade Warehousing Zone (FTWZ) at Panvel, Mumbai spanning across 165 acres. Very soon it would roll out the second FTWZ at Khurja, near Delhi followed by Chennai with plans afoot for two more at South & East. A real boon for Importers, Exporters and Value adders, FTWZs are deemed foreign territory where Warehousing, Trading and Value Optimizing can be performed with the help of Arshiya’s state-of-the-art Infrastructure and expert personnel. This will also enable India to compete with its cost and skill arbitrage in regional hubbing and also process cargo in and out of India more efficiently – thereby improving logistics connectivity of India.
Under logistics and transportation Solutions, Arshiya International provides services such as air and ocean transportation, customhouse brokerage, global logistics management and logistics consulting services. The company offers solutions in areas of plant construction and relocation, mining, power generation, upstream oil and gas projects and government projects. Under this it caters to companies such as Larsen & Toubro, Jindal Stainless, Bombay Dyeing & Mfg, Vedanta, Bhushan Steel & Strips, Mahindra & Mahindra, Hindalco Industries and KEC International, among others.
Unique Advantages of FTWZ
INVESTMENT RATIONALE
Arshiya International is the company which has set up successful FTWZs business in India. India Inc. has not reaped full benefit of FTWZ and that is the key growth prospects for Arshiya. The company has delivered 52% and 28% CAGR growth in operating profit and net profit respectively. Further we expect the company will continue reporting such high growth going forward on back of
· Adding new warehouse facility across its FTWZ location in Panvel and Khurja will ramp up volumes
· Reduction in Rail maintenance down time to 1 day from the current 5 days as well as adding revenue by commencing operation at Khurja Rail maintenance terminal
· Currently the company possesses clients like CISCO, L&T, GE India, BHEL, Hypercity, Henkel, etc which are the long-term service contracts. The management expects to add more clients as well as for value added services. The company is focusing more to provide Value added service to customers, which ensures long-term earning visibility
| Price Information | Company Size | Key Market Ratio | |||||
| Latest Date | 16-Oct-12 | Market Cap(Rs Crore) | 786 | Latest EPS (Rs) | 22.4 | ||
| Latest Price (Rs) | 134 | EV (Rs Crore) | 3008 | Latest CEPS (Rs) | 28.64 | ||
| Previous Close (Rs) | 137 | Latest no. of shares | 58829472 | Price/TTM CEPS(x) | 4.66 | ||
| 1 Day Price Var% | -2.55 | Share holding pattern | TTM PE (x) | 5.96 | |||
| 1 Year Price Var% | -8.53 | Promoter No of shares | 26234710 | Price/BV(x) | 0.9 | ||
| 52 Week High (Rs) | 178 | Promoter % | 44.6 | EV/TTM EBIDTA(x) | 9.32 | ||
| 52 Week Low (Rs) | 112 | FII No of Shares | 7581539 | EV/TTM Sales(x) | 2.57 | ||
| Beta | 1.1 | FII % | 12.9 | Dividend Yield% | 1.05 | ||
| Face Value (Rs) | 2 | Total No of Shares | 58829472 | MCap/TTM Sales(x) | 0.67 | ||
| Industry PE | 14.31 | Free Float % | 55.4 | Latest Book Value (Rs) | 148.62 | ||
| Financial Highlights (Consolidated) | (Rs. in Crore) | Quarter on Quarter (Consolidated) | (Rs. in Crore) | |||||||||
| Description | 201203 | 201103 | 201003 | 200903 | 200803 | Particulars | 201206 | 201203 | Q on Q Var% | 201106 | Y on Y Var% | |
| Equity Paid Up | 11.77 | 11.77 | 11.75 | 11.75 | 11.4 | |||||||
| Reserve | 854 | 733 | 657 | 583 | 489 | Net Sales | 342 | 312 |
9.4
| 223 |
53.6
| |
| Total Debt | 2099 | 1269 | 572 | 130 | 2 | Total Expenditure | 248 | 232 |
6.9
| 168 |
47.9
| |
| Gross Block | 1575 | 676 | 266 | 137 | 35 | PBIDT (Excl OI) | 93 | 81 |
15.4
| 55 |
71.2
| |
| Net Sales | 1057 | 822 | 526 | 503 | 401 | PAT | 35 | 31 |
12.2
| 24 |
46.5
| |
| PBIDT | 279 | 162 | 128 | 86 | 58 | PBIDTM% (Excl OI) | 27.3 | 25.9 |
5.8
| 24.5 |
11.5
| |
| PAT | 121 | 82 | 98 | 66 | 45 | PBIDTM% | 29.5 | 24.5 |
20.5
| 24.7 |
19.6
| |
| Dividend % | 70 | 60 | 50 | 40 | 40 | PATM% | 10.1 | 9.9 |
2.8
| 10.6 |
-4.5
| |
| Adj. EPS(Rs) | 20.5 | 13.9 | 16.7 | 11.2 | 8.0 | Adj. EPS(Rs) | 5.9 | 5.3 |
12.0
| 4.0 |
46.3
| |
| Adj. Book Value(Rs) | 143 | 123 | 114 | 101 | 88 | |||||||
| Peer Group Comparison (Consolidated) | (Rs. in Crore) | ||||||||
Company Name
|
Year End
|
Net Sales
|
PBIDT
|
PAT
|
Adj. EPS(Rs)
|
PBIDTM%
|
PATM%
|
ROCE%
|
ROE%
|
Allcargo Logistics
|
201203
|
4271
|
574
|
298
|
21.9
|
13.4
|
7.0
|
22.7
|
22.3
|
Arshiya Internatl.
|
201203
|
1057
|
279
|
121
|
20.5
|
26.4
|
11.4
|
9.4
|
15.5
|
Gateway Distriparks
|
201203
|
821
|
264
|
136
|
12.2
|
32.2
|
16.5
|
23.7
|
18.9
|
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