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×

bharat nidhi Limited

9,900.00
-4.81 %
Scrip Name
BHARAT NIDHI
ISIN No.
INE286F01016
PAN No.
AAACB0195J
Face Value
10
No. of Outstanding Shares
2,897,244
Market Capitalization
2,868.27 Crore

BHARAT NIDHI LIMITED UNLISTED SHARE


ABOUT BHARAT NIDHI LIMITED


BHARAT NIDHI LIMITED was first established in 1942 as Bharat Bank Limited and carried out the banking activities. Later in 1951, the company closed all its banking activities and changed its name to Bharat Nidhi Limited. The company then worked as a distributor of newspapers and periodicals in Delhi & NCR. But now, apart from the distribution of newspapers and periodicals, the company is also engaged in investing its surplus funds in debt-based mutual funds, banks, and financial institution's fixed deposits and other safe avenues from time to time.


The company holds a contract with Bennett Coleman and Company Limited to distribute their newspapers and magazines. Bharat Nidhi Limited is also a major shareholder of Bennett Coleman and Company Limited.


Since 2002 the company is also registered as an NBFC (Non-Banking Finance Company) with the Reserve Bank of India (RBI). However, in 2014, the company has voluntarily made an effort to surrender its Certificate of Registration as NBFC.


The stock of Bharat Nidhi Limited was listed on the Calcutta Stock exchange, but later it delisted itself from the exchange by introducing a buyback offer. Now the company has been shifted to the Dissemination Board (DB) of the National Stock Exchange (NSE).


INCORPORATION DETAILS


CIN

U51396DL1942PLC000644

Registration Date

21 September 1942

Category/Sub-category of the Company

Company Limited by Shares (NBFC)

Address of the Registered office and contact details

First Floor, Express Building, 9-10,

Bahadur Shah Zafar Marg, New Delhi – 110 002

Telephone No. : 011-43562982

E-mail id: bharatnidhi1@gmail.com

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

M/s. Skyline Financial Services Private Limited

D-153A, Okhla Industrial Area, Phase-I,

New Delhi – 110 020,

Telephone No. : 011-40450193-197; 26812682-83

Email : admin@skylinerta.com

PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Distribution of Newspapers and Magazines inDelhi& NCR

99611519

91.82%

 

BOARD OF DIRECTORS

Mr. B. Chintamani Rao

Mr. Bhagat Ram Goyal

Mr. Nityanand Singh

Mr. Sanket Kumar Aggarwal (Chief Financial Officer)

 

PARTICULARS OF ASSOCIATE COMPANIES

Name of the Company

% of shares held

Matrix Merchandise Limited

23.90%

Vasuki Properties Limited

49.99%

Bennett, Coleman & Company Limited

24.41%

Bennett Property Holdings Company Limited

24.41%

Mahavir Finance Limited

20%

 

 

BHARAT NIDHI LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

2897244

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE286F01016

PAN No.

AAACB0195J

Lot Size:

10 Shares

Last Trading Price:

Rs.15000

Market Cap

Rs. 4345.87 Crore

 

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

M/s. Matrix Merchandise Limited

600000

20.69

2

Mr. Vineet Jain

590000

20.34

3

M/s. Sanmati Properties Limited

471588

16.26

4

M/s. Ashoka Marketing Limited

300000

10.34

5

M/s. Mahavir Finance Limited

200000

6.9

6

M/s. ArthUdyogLimited

57974

2

7

M/s. TM Investments Limited

37744

1.3

8

Others

639938

22.17


Total

2897244

100

 

INDUSTRY OUTLOOK


Print Media mainly comprises of newspapers and magazines. The print industry in India is highly segmented due to a larger number of regional languages. However, English publications are experiencing growth from tier 2 and tier 3 cities as the education and income levels are increasing in smaller cities.


As digital media is expanding its limits, the newspaper industry in most of the countries is struggling. But India is one of the few countries, where print media is still growing in all aspects including circulation, readership, and sales. ‘DainikJagran’ is the most popular daily newspaper in India. Among English newspapers, ‘The Times of India’  has the highest readership. Further, newspapers worldwide cost high as compared to India.


COVID-19 has been impacting the business operation of this industry ever since the nationwide lockdown was imposed from the last week of March 2020. The primary impact has been felt by way of decline in the demand for print publications i.e. Newspapers and Magazines on account of supply chain disruption and unavailability of personnel etc.


The decline in demand has had a pronounced impact on the revenues of the Companies working in the print media industry for the half-year ended September 2020 whereby sales of print publications fell by almost 50% when compared to the average sales trends that prevailed during the year ended March 31, 2020.


Earnings on deployed surplus funds have declined in this period of Covid-19 and may further decline incoming period of time in line with the economic slowdown and overall conditions of the economy, though the impact cannot be quantified as of now.


The revenue sources for this industry come from mainly two sources, one is advertising and the second is circulation. Advertising expenditure in India fell by 20% to Rs. 54,151 crores in FY 2020, as companies cut down on spending amid nationwide lockdown. In 2021 advertising expenditure in India is expected to rise by 26% to reach Rs. 68,325 crores, whereas spending on advertising in print media is projected to grow faster at 35% to Rs. 16,100 Crores.

 

KEY FINANCIALS OF BHARAT NIDHI LIMITED (In Rs. Lakhs)

 

Particulars

2020

2019

2018

2017

Revenue from Operations

4,599.10

4,988.88

5,617.89

5,829.62

EBITDA

-267.56

-83.20

-41.58

-12.17

Finance Cost

6.40

5.27

5.33

5.19

Depreciation

0.31

0.30

0.92

1.22

Other Income

8,383.67

2,915.32

1,370.33

835.24

Profit Before Tax, exceptional items and

share of profit from associates

8,109.40

2,826.56

1,322.51

816.66

Exceptional items

-0.11

41.85

97.79

0.10

Total Tax

675.34

341.33

107.37

0.47

Profit After Tax before share of profit from associates

7,433.94

2,527.07

1,312.93

816.29

Share of profit from associates

-6,340.82

40,502.46

24,192.50

23,077.74

Profit after tax (PAT)

1,093.12

43,029.53

25,505.43

23,894.03

PAT margin

8.42%

544.39%

364.98%

358.51%

EPS

37.54

1,473.49

873.4

818.22



BALANCE SHEET OF BHARAT NIDHI LIMITED(In Rs. Lakhs)

Particulars

2020

2019

ASSETS



NON CURRENT ASSETS



Tangible assets

0.53

0.22

Non Current Investments

3,53,979.07

3,59,638.33

Tax assets

4.50

6.22

Long Term Loans and Advances

474.17

358.87

Other Non Current Assets

0.00

1,633.84

TOTAL NON CURRENT ASSETS

3,54,458.27

3,61,637.48

CURRENT ASSETS



Current Investments

0.00

885.61

Trade receivables

123.86

115.97

Cash and Cash equivalents

11,156.53

5,006.13

Short tern loans and advances

92.18

50.23

Other current assets

528.56

274.94

TOTAL CURRENT ASSETS

11,901.13

6,332.87

TOTAL ASSETS

3,66,359.40

3,67,970.34

EQUITY AND LIABILITIES



EQUITY



Share Capital

290.07

292.03

Reserves and Surplus

3,65,882.03

3,67,519.84

TOTAL EQUITY

3,66,172.10

3,67,811.86

LIABILITIES



NON CURRENT LIABILITIES



Other Long Term Liabilities

82.26

80.58

Long Term Provisions

17.45

21.72

TOTAL NON CURRENT LIABILITIES

99.71

102.30

CURRENT LIABILITIES



Trade Payables

61.80

28.21

Other Current Liabilities

25.49

27.59

Short Term Provisions

0.30

0.38

TOTAL CURRENT LIABILITIES

87.60

56.18

TOTAL LIABILITIES

187.30

158.48

TOTAL EQUITY AND LIABILITIES

3,66,359.40

3,67,970.34

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

0.6

0.6

0.6

 

PERFORMANCE OF THE COMPANY

In FY 2020, the company sold 12,02,72,886 copies of newspapers amounting to a total of Rs. 4,105.31 lakhs and 1,59,544 copies of magazines amounting to a total of Rs. 117.39 lakhs.

Revenue from Operations of the company in FY 2020 was Rs. 4,599.10 lakhs as against the revenue from operations of Rs. 4,988.88 lakhs in FY 2019, registered a decline of 8% in FY 2020.


If just talking about the company’s primary business that is distributing the newspapers and periodicals, the company’s EBITDA turned from a loss of Rs. 83.20 lakhs in FY 2019 to a loss of Rs. 267.56 lakhs in FY 2020. But if we include the investment income of the company the company’s EBITDA in FY 2020 was Rs. 8,116.11 lakhs as against Rs. 2,832.12 lakhs in FY 2019, increased by 186.57%. This clearly states that the company is now focusing more on its investments rather than on its primary business.


Other Income which mainly consists of income from different investments increased from Rs. 2,915.32 lakhs in FY 2019 to Rs. 8,383.67 lakhs in FY 2020. It has been increased by 188%.


Profit after Tax of the company fell by around 97% from Rs. 43,029.53 lakhs in FY 2019 to Rs. 1,093.12 lakhs in FY 2020. The main reason for this sharp fall can be attributed to the share of profit /loss from associates. Two companies in which Bharat Nidhi Limited holds a major stake, namely, Bennett Coleman & Company Limited and Bennett Property Holdings Company Limited gave a loss of Rs. 1,560.92 lakhs and Rs. 4,812.25 lakhs respectively.


Bharat Nidhi Limited does not have any long-term or short-term borrowings.


Book value per equity share of the company as of 31st March 2020 was Rs.12,638.64.2

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