Bombay Dyeing Research Report By NVS Wealth Managers

MONUMENTAL PROFIT OF Rs. 1,253 Crs. IN Q4FY2019…

 We at NVS had recommended Bombay Dyeing and Manufacturing Co. Ltd. (BD), the Flagship Company of the famous Wadia Group headed by Mr. Nusli Wadia as a strong investment candidate at then prevailing price of Rs. 105. Stock touched a high of Rs. 149 in March 2019 thus registering a gain of over 42% in a span of less than 3 months. For full report visit our website:

Jeena Scriptech's @gauravparikh is super bullish about #bombaydyeing https://t.co/wRlLUKcIzg #investing #stockstowatch pic.twitter.com/IWQxahjU5P

— Outlook Business (@OutlookBusiness) May 2, 2019

BOMBAY DYEING TO CNBC-TV18
Sold 65-67% of Inventory at Dadar Project
Have Clocked Revenue Of `3,000 Cr From Sale Of Land Project
Debt At Around `3,500 Cr Currently
Have 8mn Sq.Ft Developable FSI

Imp to watch next few qtrs, when this revenue will be recognized https://t.co/sRyzZJe8QE

— Mangalam Maloo (@blitzkreigm) February 6, 2019

 BD A TREMENDEOUS HIGH CONVICTION VALUE PLAY

Bombay Realty (100% subsidiary) recently received Occupancy Certificate for two of its iconic multi storey residential towers – One ICC and Two ICC. Deliveries of the flats at these projects are in full swing leading to generation of strong sales volume, cash flows and profit during Q4FY2019. These projects are expected to offer crystal clear financial visibility over next 3 – 4 quarters. Additionally, NO GST BURDEN has provided an impetus for further booking of flats in these projects.
BD has netted a stupendous PAT of Rs. 1,253 Crs. in Q4FY2019 and commands a Market Capitalization of meagre Rs. 2,189 Crs. (just USD 312 Million). BD represents a rare Company where the Quarterly PAT is almost equal to 2/3 of the Company’s Market Capitalization.

During the quarter, #BombayDyeing's revenue from the real estate segment was Rs 2,353.75 crore, compared with Rs 405.78 crore a year ago https://t.co/fEIvXjYe3j

— Firstpost (@firstpost) May 2, 2019

BD IS ONE OF THE MOST ATTRACTIVE REAL ESTATE STORY IN INDIA

 ONCE IN A LIFE TIME QUARTERLY PROFIT

BD Topline for Q4FY2019 was up by 265% to Rs. 2,791 Crs. (Rs. 765 Crs.), EBITDA surged by 489% to Rs. 1,390 Crs. (Rs. 236 Crs.) and PAT soared to Rs. 1,253 Crs. (Rs. 11 Crs.)

For the full year FY2019 the Consolidated Topline was up by 63% to Rs. 4,470 Crs. (Rs. 2,744 Crs.), EBITDA almost trebled to Rs. 1,750 Crs. (Rs. 632 Crs.) and PAT zommed to Rs. 1,230 Crs. (Rs. 35 Crs.).

Bombay Realty contributed handsomely to the overall growth of the Company along with Polyester Staple Fibre and ‘Home & You’ business showing signs of revival and being breakeven on EBIT levels.
BD rewarded its shareholders with a dividend of 75% in FY2019 (Rs. 1.5 per Equity share of FV Rs. 2 each) against 50% in FY2018.

We believe that the overall slowdown in the Uber Luxury Segment of Real Estate Sector is already reflected in the deep discounted value of the BD Shares. However in our opinion BD with its huge embedded value, premium land parcels at ICC and WIC, likely launch of two Commercial towers, mammoth land bank of the Wadia Group, additional FSI under the new DP 2034 plan, MAHARERA and revenue visibility of over next 1 – 3 – 5 – 7 – 10 years would prove to be a notable exception to the slowdown in the Real Estate Segment.

THIS COLOSSAL PROFIT OF RS. 1,253 CRS. HAS SET THE BALL ROLLING FOR FURTHER UNLOCKING OF VALUE FROM THE PRIME LAND PARCEL OF BD REAL ESTATE DIVISION

BOMBAY REALTY IS STAGED TO BECOME THE SINGLE LARGEST REVENUE AND PROFIT GENERATING DIVISION OF THE COMPANY
WE ARE PROUD TO STATE THAT RS. 1,253 CRS. OF QUARTERLY PAT HAS VALIDATED BD AS NVS TOP RECOMMENDATIONS IN INDIAN EQUITY SPACE.