i expect can fin to report 34-36 cr. of PAT in q2 ,q1 was 32 cr. so if we extrapolate it to q3 and q4 PAT can be 36 and 38 cr. so fy16 PAT may be @140cr and EPS will be 53-54 rs. range.

some assumption for thesis

1) LAP growth and CP funding will help improve NIM
2) 5-7 % qoq growth in loan assets
3) no bad surprises on asset quality
4) Bank rate cut will be mildly positive as borrowing from banks are declining.

haven't got anything from NHB about risk weight on small housing loans yet, but whenever it will come (as NHB follows RBI with lag) it will be positive and may be big positive as canfin may not have to infuse additional capital till FY18 (figures crossed for this one)
disc: hold and biased

If one assumes HFC ( low cost) to be valued on PE basis rather than PB, this looks even more undervalued.
With FY 16 expected to be bumper year due to above known discussed reasons, I estimate FY 16 EPS to be around 45 Rs, So for a steady business growing @ min 30 %, we can assign 30 PE, so it comes as around 1400, if one discounts FY 17 EPS as some analyst do in brokerage reports , fy 17 eps estimates is coming closer to 60, so it can be seen closer to 1800. I am aware this are lofty estimation, but its possible, we don't know what Mr. M decides, as it did with Gruh/Repco. They are valued on PE basis not p/b.

On p/b it looks fairly valued now, but can still grow@ 30/35 %, which is rare these days for any financials with NIL NPA.

@ayushmit, Catmaran fund has further raised its stake during last Quarter from 3.1 % to 3.6 %

Disc : invested and views are biased

Good to see a thread on Excel Industries. Have been going over the numbers for this co over the last 1-2 days. Just started with the research at my end.

Significant number of warrants were issued to promoter group company at issue price of 69/- on 24/09/2015 (face value 5 bucks, premium 64 bucks) - shouldn't this be a negative?

Gagan

I have a question after reading the annual report 2014-15.

Why TreeHouse need to invest in associate companies JT Infrastructure Private Limited & Mehta Treehouse Infrastructure Private Limited??

The Company has entered into a joint venture agreement with Jayshree Builders (‘JB’) to construct and rent a school building. As part of the arrangement, the Company and JB have agreed to equally contribute to the share capital of Mehta Treehouse Infrastructure Private Limited, a company in which both Treehouse Education & Accessories Limited and JB have equal share holding. The Company has a 50% interest in the assets, liabilities, expenses and income of Mehta Treehouse Infrastructure Private Limited, a company incorporated in India. The operations have not yet commenced.

I could not find any information about these companies. Can anyone throw some light on this?

@richdreamz,
please send me a mail to chaitanya.jasty@gmail.com along with your mobile number, so that i can share you the details.
I received a private mail from you, but i don't know how to send private message to you alone.