This article in continuation to the previous post on Top Investment banks, brokerage companies of India. Here we have looked at few fundamentals of these companies mainly their revenues and profits. It should be noted that the comparison is not perfect because many of these firms have multiple business whereas others are just into investment banking or brokerage. In terms of ttm (trailing twelve months) revenues the standings are:
| Mkt Cap. | Sales | |
| India Infoline | 13.1 | 7.95 |
| Indiabulls Securities | 4.8 | 6.26 |
| Edelweiss Capital | 17.9 | 2.29 |
| Geojit Fin Serv | 4.9 | 1.79 |
| Emkay Global | 0.8 | 1.34 |
| Apollo Sindhoori | 2.9 | 1.14 |
| Future Capital | 9.9 | 1.00 |
| Motilal Oswal | 9.0 | 0.72 |
| JM Financial | 15.8 | 0.52 |
| Centrum Capital | 11.1 | 0.46 |
| IL & FS Investmart | 4.6 | 0.31 |
| Religare Enterprises Limited | 24.5 | 0.29 |
The table below shows the same companies in order of their ttm earnings.
| Sales | Profit | Margin | |
| Indiabulls Securities | 6.26 | 2.23 | 36% |
| India Infoline | 7.95 | 1.85 | 23% |
| Motilal Oswal | 0.72 | 0.44 | 60% |
| Edelweiss Capital | 2.29 | 0.26 | 11% |
| Geojit Fin Serv | 1.79 | 0.25 | 14% |
| JM Financial | 0.52 | 0.25 | 48% |
| Apollo Sindhoori | 1.14 | 0.15 | 13% |
| Emkay Global | 1.34 | 0.13 | 10% |
| Centrum Capital | 0.46 | 0.12 | 27% |
| IL & FS Investmart | 0.31 | 0.07 | 23% |
| Religare Enterprises Limited | 0.29 | -0.05 | -16% |
| Future Capital | 1.00 | -0.06 | -6% |
In comparison to their market value how these company fare is shown below.
| Price | EPS Rs. | P/E | |
| Indiabulls Securities | 19 | 8.8 | 2.2 |
| India Infoline | 46 | 6.5 | 7.1 |
| Motilal Oswal | 63 | 3.1 | 20.5 |
| Edelweiss Capital | 239 | 3.4 | 69.8 |
| Geojit Fin Serv | 24 | 1.2 | 19.8 |
| JM Financial | 21 | 0.3 | 0.0 |
| Apollo Sindhoori | 52 | 2.7 | 19.1 |
| Emkay Global | 32 | 5.5 | 5.8 |
| Centrum Capital | 1,625 | 17.9 | 91.1 |
| IL & FS Investmart | 65 | 1.0 | 62.7 |
| Religare Enterprises Limited | 321 | loss | |
| Future Capital | 157 | loss |
It is interesting to note that the highest valued firm in this category, Religare, has the least revenues of them and has reported loss in last quarter. However, being promoted by a well established group it is expected to grow fast and gain market share. This may be one reason why it is trading at high multiples.
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