Qualitative Aspect of Geo

Sr No. Questions

1 What does the company do?

Who are the promoters? What

2
are their background?

3 What do they manufacture?

How many plants they have and

4
where are they located?

Are they running plants in full

5
capacity?

What kind of raw material is

6
required?

Who are company's client or

7
end users?

8 Who are their competitors?

Who are the major shareholders

9
of the company?

Do they plan to launch any new

10
products?

Do they plan to expand in

11
different countries?

12 What is the revenue mix?

Which product sells the most?

Do they operate under heavy

13
regulated environment?
 Who are their bankers,
14
auditors?

How many employees do they

15 have? Does the company has
labor issue?

What are the entry barriers for

16 new participants to enter the
industry?

Is the company manufacturing

products that can be easily
17
replicated in a country with
cheap labors?

Does the company has too many

18
subsidiaries?
 Qualitative Aspect of Geojit Financial Services Ltd

Geojit financial services ltd. Is engaged in the business of share broking and related services in India for the last 25
including online broking for equities, derivatives and currency futures, financial product distribution, portfolio m
operations through joint ventures in UAE&Saudi Arbia. They provide the interim dividened. In FY 2019-2020 mark
2.49. Company is almost debt free. Also the company has been maintaining a healthy dividend payout of 81

C J George, BNP Paribas, Kerla State Industrial Development Corporation Ltd- BNP Paribas acquire the hig
opportunity.

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investment needs of clients

ICICI Securities, MCX India, Angel Broking, BSE Ltd, Dhanni Services Ltd, Dolat Investment, 5

Promoters(62.22%), FII/FPI(1.32%), Others(25.27%

The company has plan to launches global investment to allow its customer to inve

yes, plan to expand in US market.

online broking for equities, portfolio management services, financial product servic

financial products (mutual fund, general insurance, loan, IPOs)

Digital finance
Bankers:- Axis Bank Ltd., BNP Paribas, Federal Bank, HDFC Bank Ltd.,ICICI Bank Ltd., IDBI Bank Ltd., Indusind

Auditors:- BSR&ASSOCIATES LLP

2718 total employess across all its locations.

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According to sources and reviews, it can be easily replicated and

The company has subsidiaries- Geojit Loans & Services Limited

Sr No. Questions

1 Gross Profit Margin

2 Revenue Growth

3 EPS

4 Debt Level

5 Inventory

6 Sales Vs Recievable

7 Cash Flow from Operations

7 Cash Flow from Operations

8 Return on Equity

9 Business Diversity

10 Subsidiary
The average Gross Profit margin for the last five years (2016-2020) is 83.46% which is above the average of top 8 st
for the last five years. Also, the current GP margin of Geojit financial Services Ltd is 83.46%. The company has d
years.

The revenue is not line with the GP from 2016 to 2020. In the last five years, the gross profit has decreased overs
increase in revenue expect 2019 and 2020. Though the rate of decrease in GP is line with the rate of decreas

400 25%
20% Revenu
300 growth
15%
10% GP
200 Sales
5% Growth
GP
100 0%
-5%2017 2018 2019 2020
0 -10%
2016 2017 2018 2019 2020 -15%
-20%

The company's EPS is in line with Net Profit. In the last five years (2016-2020) when NP increased, EPS also increas
EPS increased along with the increase in NP as well as EPS decreases when NP decreases du

The company has higher debt in 2020 than in 2019 which means the company has raised its debt. Therefore the finan
risk increased. But the EPS has also decreased due to a decrease in net profit. The company is highly leveraged in 20
debt free.

--------------

In the last 5 years, the sales have decreased at a CAGR of -6.79% whereas Account Receivable has decreased from R
except 2016. Also, the account receivables are cleared in 91 days in 2020 than 161days in 2016. Therefore the credit
and very less percentage of sales is in credit basis.

The performance of cash flow from operations for the company and revenue generation is not very smooth during y
has been increasing in 2017 to 2019 whereas cash flow from operations increases only in 2017 and 2020 but went ne
flow from operations was showing an inflow in 2020.
 The performance of cash flow from operations for the company and revenue generation is not very smooth during y
has been increasing in 2017 to 2019 whereas cash flow from operations increases only in 2017 and 2020 but went ne
flow from operations was showing an inflow in 2020.

From 2017 to 2018 the ROE has increased from 265.22% to 334.78%. But in the year 2020, the return on equity by
peers but less from its past ROE. The company has a low return on equity over three years. Also in the past 3 years (
been in line, i.e. ROE increases, debt increases, and ROE decreases, debt decreases except 2019. The return on

launches global investment to allow its customer to invest in US market, internet trad

Geojit stock and shares limited(GSSL)

tative aspect of Geojit Financial Services Ltd.

2016 2017 2018

NP 44 61 77
EPS 1.61 2.38 3.09
Debt 706 818 851
Equity 23 23 23

2016 2017 2018

Debt 706 818 851
Equity 23 23 23

2016 2017 2018

Sales 245 273 334
Accounts Recievables 108 146 137
Account Receivable Days 161 195 150

400
350
300
250
200 Cash flow from
150 operations
100 Revenue
50
0
400
350
300
250
200 Cash flow from
150 operations
100 Revenue
50
0
-502016 2017 2018 2019 2020

2016 2017 2018

Return on equity 191.30% 265.22% 334.78%
Debt 706 818 851
2019 2020
29 50
0.97 1.97
906 908
23 23

2019 2020
906 908
23 23

2019 2020
307 305 CAGR
131 76
156 91
 2019 2020 grwoth (2017 to 2019)
126.09% 217.39% 26%
906 908
-6.79%
 Geojit Financia
2016 2017 2018 2019 2020
Sales 306.37 309.77 367.95 305.76 271.96
COGS 45.19 49.13 65.8 52.7 46.13
GP 261.18 260.64 302.15 253.06 225.83
GP MARGIN 85.25% 84.14% 82.12% 82.76% 83.04%

ICICI
Sales 1,724.94 1,727.02 1,861.01 1,404.23 1,124.58
COGS 105.99 122.59 161.69 128.75 101.5
GP MARGIN 93.86% 92.90% 91.31% 90.83% 90.97%

MCX
Sales 503.11 398.59 351.86 376.34 351.84
COGS 89.54 81.89 72.35 71.39 0
GP MARGIN 82.20% 79.46% 79.44% 81.03% 100.00%

Angel Broking
Sales 742.78 762.65 753.66 471.41 381.31
COGS 268.05 257.11 255.74 0 0
GP MARGIN 63.91% 66.29% 66.07% 100.00% 100.00%

5paisa Capital
Sales 19.3 19.29 11.89 1.26 1.82
COGS 0.01 0.01 0 0.29 0.95
GP MARGIN 99.95% 99.95% 100.00% 76.98% 47.80%

Dolat Investment
Sales 259.99 197.26 140.33 110.14 73.99
COGS 0 0 0 0 0
GP MARGIN 100.00% 100.00% 100.00% 100.00% 100.00%

Dhanni services Ltd 2016 2017 2018 2019 2020

Sales 397 413 980 1,993 2,915
COGS 49.3 11.37 160.15 0 29.41
GP 347.7 401.63 819.85 1993 2885.59
GP margin 87.58% 97.25% 83.66% 100.00% 98.99%

BSE LTD
Sales 635 572 676 652 609
COGS 250.17 241.53 279.46 294.47 326.23
GP 384.83 330.47 396.54 357.53 282.77
GP margin 60.60% 57.77% 58.66% 54.84% 46.43%
Geojit Financial Services
Average Industry Average 2017
312.362 84.15% Revenue growth 1%
GP Growth 0%

83.46%

1,568.36

91.97%

396.348

84.43%

622.362

79.25%

10.712

84.94%

156.342

100.00%

1339.6

93.50%

628.8

55.66%
2018 2019 2020
19% -17% -11%
16% -16% -11%
 400

2016 2017 2018 2019 2020 200

Sales 306.37 309.77 367.95 305.76 271.96 0
GP Err:509 Err:509 Err:509 Err:509 Err:509 2016 2017 2018
2017 2018 2019 2020
Revenue growth 1% 19% -17% -11%
20%
GP Growth 0% 16% -16%
10%
0%
2017 2018 2019
-10%
-20%
00
00 Sales
GP
0
2016 2017 2018 2019 2020

20%
10%
Revenue growth
0% GP Growth
2017 2018 2019 2020
-10%
-20%
 GEOGIT FINANCIAL SERVICES
2016 2017 2018 2019 2020
NP 44 61 77 29 50
EPS 1.61 2.38 3.09 0.97 1.97

Debt 706 818 851 906 908

Equity 23 23 23 23 23

Sales 245 273 334 307 305

AR 108 146 137 131 76
AR DAYS 161 195 150 156 91
2016 2017 2018 2019 2020
Cash flow from operations 47 112 58 -24 136
Revenue 306.37 309.77 367.95 305.76 271.96

Return on equity 191.30% 265.22% 334.78% 126.09% 217.39%

Debt 706 818 851 906 908
Equity 23 23 23 23 23
NP 44 61 77 29 50
400
350
300
250
200 Cash flow from
operations
150 Revenue
100
50
0
-502016 2017 2018 2019 2020