maverick
09-01-2008, 08:12 AM
Sumedha Fiscal Services-Playing The Broking Card
BSE 530419; CMP Rs 22
-Sumedha Fiscal Services is a member stock broker of the NSE-Capital Market and FNO segments.
-At Rs 14 crore of market capitalisation, Sumedha is perhaps the cheapest broking outfit quoting on the BSE.
-Sumedha had marginal profits of Rs 85 lakh in FY07, and has exceeded that figure in the First Half of FY08 with after tax profits of Rs 85 lakh.
-At present, apart from its Calcutta office, the firm runs 8 other branch offices across the length and breadth of the country.
-The Promoters who happen to be Chartered Accountants, hold 53 per cent of the Rs 6.6 crore Equity, with another 7 shareholding 16 per cent of the Equity.
-Equity ownership is concenterated in a few hands, and stock supply is likely to come in from small shareholders.
-Sumedha Fiscal came onto the Dividend list in FY07 with a 5 per cent dividend pay-out and with better business growth should raise this pay-out in FY08.
-Sumedha Fiscal is currently empanelled with most of the FIs, MFs, Banks and Corporate Groups which implies the scalability of business and growth in the coming years.
-With increased focus on arranging corporate finance, IPO management and Advisory Services, the corporate seems willing to broaden the Revenue stream.
-Almondz Securities, JRG, Khandwala, LKP Merchant and larger brokers like MOST and Edelweiss are getting rich valuation on the bourses, reflecting strong business conditions.
-There seems little reason to believe that Sumedha will not be able to scale up and grow its business in the coming years and from a price of Rs 22, there would seem to be little downside but for a major reversal in the Equity markets.
BSE 530419; CMP Rs 22
-Sumedha Fiscal Services is a member stock broker of the NSE-Capital Market and FNO segments.
-At Rs 14 crore of market capitalisation, Sumedha is perhaps the cheapest broking outfit quoting on the BSE.
-Sumedha had marginal profits of Rs 85 lakh in FY07, and has exceeded that figure in the First Half of FY08 with after tax profits of Rs 85 lakh.
-At present, apart from its Calcutta office, the firm runs 8 other branch offices across the length and breadth of the country.
-The Promoters who happen to be Chartered Accountants, hold 53 per cent of the Rs 6.6 crore Equity, with another 7 shareholding 16 per cent of the Equity.
-Equity ownership is concenterated in a few hands, and stock supply is likely to come in from small shareholders.
-Sumedha Fiscal came onto the Dividend list in FY07 with a 5 per cent dividend pay-out and with better business growth should raise this pay-out in FY08.
-Sumedha Fiscal is currently empanelled with most of the FIs, MFs, Banks and Corporate Groups which implies the scalability of business and growth in the coming years.
-With increased focus on arranging corporate finance, IPO management and Advisory Services, the corporate seems willing to broaden the Revenue stream.
-Almondz Securities, JRG, Khandwala, LKP Merchant and larger brokers like MOST and Edelweiss are getting rich valuation on the bourses, reflecting strong business conditions.
-There seems little reason to believe that Sumedha will not be able to scale up and grow its business in the coming years and from a price of Rs 22, there would seem to be little downside but for a major reversal in the Equity markets.