Capital First (Delisted) share price
BSE: 532938
Capital First Limited · Formerly Future Capital Holdings · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Feb 2008
Last traded ₹587.20 on 27 Dec 2018
Delisted on 19 Feb 2019.
Last announcements
The company's own last announcements before its shares stopped trading, routine notices left out.
Dec 2018
20 Dec · Suspension of Trading
Members of the Exchange are hereby informed that the trading in Equity Shares of Capital First Limited shall be suspended w.e.f. December 28, 2018 (i.e. closing hours of trading on December 27, 2018) on account of Composite Scheme of Amalgamation of Capital First Limited with IDFC Bank Limited
Results for the quarter to Sep 2018
Standalone: the listed company alone, without its subsidiaries. ₹ crore.
- RevenueRevenue from operations. Money earned from selling the company's goods and services in the period. Revenue from operations in the glossary
- ₹1,107 Cr+31.2% on a year ago · +13.8% on the quarter beforeChange on a year ago and on the quarter before. The change against the same quarter a year before: (this quarter's figure less that quarter's) divided by that quarter's, times 100. The change on the quarter before is the same sum against the quarter just before, taken as this quarter's results restate it where the company restated it: this quarter's year to date less this quarter. Left out where either figure is a loss, where the restatement covers two or more earlier quarters without saying which, or across a change of basis named under the table, on the lines it affects.
- Operating profitOperating profit before depreciation (EBITDA). Revenue less operating expenses: what the business earns from its operations before depreciation, interest and tax. Operating profit before depreciation (EBITDA) in the glossary
- ₹600 Cr+44.8% on a year ago · +8.5% on the quarter before
- Net profitNet profit. What is left of revenue and other income after every cost, interest and tax. Net profit in the glossary
- ₹86 Cr+21.5% on a year ago · −3.3% on the quarter before
- Earnings per shareEarnings per share. Profit belonging to shareholders divided by the number of shares, restated for later splits and bonuses so they do not break the line. Earnings per share in the glossary
- ₹8.70+19.8% on a year ago · −3.3% on the quarter beforeChange on a year ago and on the quarter before. The change against the same quarter a year before: (this quarter's figure less that quarter's) divided by that quarter's, times 100. The change on the quarter before is the same sum against the quarter just before, taken as this quarter's results restate it where the company restated it: this quarter's year to date less this quarter. Left out where either figure is a loss, on the quarter before wherever the profit of that quarter was restated, and across a change of basis named under the table, on the lines it affects.
- Operating margin
- 54.2%
- Net margin
- 7.8%
From revenue to net profit, ₹ crore
- Revenue1,107
- Employee costs−113
- Other expenses−395
- Operating profit600
- Depreciation−12
- Other income+5.5
- Finance costs−460
- Profit before tax133
- Tax−47
- Net profit86
Capital First results by quarter
Standalone: the listed company alone, without its subsidiaries. Latest quarter to Sep 2018. Results for the quarter to Dec 2018 were due by 14 Feb 2019, 45 days after it ends. Every company's dates are on the results calendar.
Revenue and net profit by quarter, ₹ crore
- Revenue
- Net profit
Peak revenue ₹1,107 Cr, quarter to Sep 2018; lowest ₹486 Cr, quarter to Dec 2015
Operating and net margin by quarter, per cent
- Operating margin
- Net margin
| ₹ crore | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018Q1 | Sep 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 275 | 308 | 324 | 344 | 376 | 379 | 388 | 427 | 486 | – | 601 | 668 | 717 | 729 | 784 | 844 | 939 | 1,027 | 973 | 1,107 |
| Operating expenses. What the business spent to run itself in the period, materials, staff and other costs, before depreciation, interest and tax. Operating expenses in the glossary | 88 | 96 | 102 | 110 | 127 | 133 | 146 | 157 | 191 | – | 266 | 304 | 329 | 352 | 403 | 430 | 483 | 536 | 420 | 507 |
| Materials and goods boughtCost of materials and goods. Raw materials used and goods bought for resale in the period, adjusted for the change in stock held. Cost of materials and goods in the glossary | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0 | 0 |
| Employee costsEmployee costs. Salaries, wages, bonuses and other benefits paid to staff in the period. Employee costs in the glossary | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 67 | 75 | 86 | 88 | 117 | 113 |
| Other expensesOther expenses. Every operating cost besides materials and staff: power, rent, freight, repairs, marketing and the like. Other expenses in the glossary | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 336 | 355 | 397 | 448 | 303 | 395 |
| Operating profit before depreciation | 186 | 212 | 222 | 234 | 250 | 246 | 243 | 270 | 296 | – | 336 | 364 | 389 | 377 | 381 | 414 | 456 | 491 | 553 | 600 |
| Operating margin | 67.9% | 68.8% | 68.5% | 68.1% | 66.4% | 64.8% | 62.4% | 63.2% | 60.8% | – | 55.8% | 54.5% | 54.2% | 51.7% | 48.6% | 49.1% | 48.5% | 47.8% | 56.8% | 54.2% |
| Depreciation and amortisationDepreciation and amortisation. The part of the cost of plant, buildings and other long-lived assets charged against each year they are used. Depreciation and amortisation in the glossary | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 3 | 3 | – | 3 | 5 | 4 | 5 | 6 | 7 | 6 | 9 | 6 | 12 |
| Other incomeOther income. Income from outside the main business, such as interest on deposits, dividends received and gains on investments. Other income in the glossary | 0 | – | 2 | – | – | – | – | – | 1 | – | 5 | – | 0 | 5 | 11 | 10 | 5 | 9 | 9 | 6 |
| Finance costsFinance costs. Interest and the other costs of borrowing in the period. Finance costs in the glossary | 168 | 173 | 189 | 192 | 204 | 198 | 193 | 207 | 230 | – | 268 | 288 | 300 | 271 | 294 | 311 | 328 | 361 | 414 | 460 |
| Profit before one-off items and taxProfit before one-off items and tax. Profit before tax as it would be without the one-off items below it, as the company states it. Profit before one-off items and tax in the glossary | 17 | 38 | 33 | 40 | 43 | 45 | 47 | 60 | 64 | – | 70 | 72 | 85 | 106 | 92 | 107 | 126 | 130 | 141 | 133 |
| One-off itemsExceptional items. Gains or losses the company reports separately because they are not expected to recur, such as selling a business or writing down an asset. Exceptional items in the glossary | −2 | −1 | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 29 | 0 | 0 |
| Profit before tax | 15 | 37 | 33 | 40 | 43 | 45 | 47 | 60 | 64 | – | 70 | 72 | 85 | 106 | 92 | 107 | 126 | 159 | 141 | 133 |
| 6 | −7 | 11 | 14 | 15 | 10 | 16 | 21 | 22 | – | 24 | 25 | 29 | 37 | 32 | 36 | 45 | 45 | 52 | 47 | |
| Tax rateEffective tax rate. Tax charged as a percentage of profit before tax. Effective tax rate in the glossary | 38.4% | −19.3% | 32.9% | 34.9% | 34.2% | 21.6% | 34.6% | 34.1% | 34.6% | – | 35.1% | 34.9% | 34.5% | 34.6% | 34.3% | 33.6% | 35.5% | 28.1% | 37.0% | 35.4% |
| Net profit | 9 | 44 | 22 | 26 | 28 | 36 | 31 | 40 | 42 | – | 45 | 47 | 56 | 69 | 60 | 71 | 81 | 115 | 89 | 86 |
| Other comprehensive incomeOther comprehensive income. Gains and losses booked straight to net worth rather than through profit, such as changes in the value of some investments, pension plans and currency translation. Other comprehensive income in the glossary | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | −12 | −11 |
| Total comprehensive incomeTotal comprehensive income. Net profit plus other comprehensive income. Total comprehensive income in the glossary | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 77 | 75 |
| Net margin | 3.4% | 14.3% | 6.8% | 7.5% | 7.6% | 9.4% | 8.0% | 9.3% | 8.6% | – | 7.5% | 7.0% | 7.8% | 9.5% | 7.7% | 8.4% | 8.7% | 11.2% | 9.2% | 7.8% |
| Earnings per share | ₹1.32 | ₹6.16 | ₹2.66 | ₹3.12 | ₹3.43 | ₹4.25 | ₹3.41 | ₹4.36 | ₹4.59 | – | ₹4.95 | ₹5.08 | ₹5.97 | ₹7.11 | ₹6.18 | ₹7.26 | ₹8.24 | ₹11.57 | ₹9.00 | ₹8.70 |
| Diluted earnings per shareDiluted earnings per share. Earnings per share counting the shares that options, warrants and convertible bonds already granted would add, on today's share count after splits and bonuses. Diluted earnings per share in the glossary | ₹1.32 | ₹6.14 | ₹2.65 | ₹3.08 | ₹3.31 | ₹4.06 | ₹3.23 | ₹4.14 | ₹4.36 | – | ₹4.67 | ₹4.76 | ₹5.59 | ₹6.68 | ₹5.81 | ₹6.80 | ₹7.79 | ₹11.11 | ₹8.56 | ₹8.30 |
Earnings per share in rupees, restated for later splits and bonuses. No results on record for the quarter to Mar 2016.
10 years at a glance
Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.
Revenue, net profit and borrowings, ₹ crore
- Revenue
- Net profit
- Borrowings
Operating and net margin, per cent
- Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs. Operating margin in the glossary
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
The years either side of a change of basis do not compare. From the year to Mar 2010, the company's revenue for that year, ₹55 Cr, differs from its quarters added, ₹82 Cr.
Results for the year to Mar 2018
Standalone: the listed company alone, without its subsidiaries. ₹ crore.
From revenue to net profit
- Revenue3,593
- Employee costs−316
- Other expenses−1,536
- Operating profit1,741
- Depreciation−28
- Other income+35
- One-off items+29
- Finance costs−1,294
- Profit before tax484
- Tax−157
- Net profit327
Profit and loss
Standalone, ₹ crore, years to March. No results on record for the year to Mar 2016. The last column is the twelve months to Sep 2018, the latest four quarters added.
| ₹ crore | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Sep 2018Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 132 | 55 | 239 | 702 | 798 | 1,079 | 1,424 | – | 2,716 | 3,593 | 4,045 |
| – | – | – | – | 252 | 349 | 472 | – | 1,250 | 1,852 | 1,947 | |
| Employee costs | – | – | – | – | – | – | – | – | – | 316 | 404 |
| Other expenses | – | – | – | – | – | – | – | – | – | 1,536 | 1,543 |
| Operating profit before depreciation | – | – | – | – | 546 | 730 | 952 | – | 1,466 | 1,741 | 2,099 |
| Operating margin | – | – | – | – | 68.4% | 67.7% | 66.9% | – | 54.0% | 48.5% | 51.9% |
| Employee costs, % of revenueEmployee costs, % of revenue. Salaries, wages and other staff costs divided by revenue, times 100. Employee costs, % of revenue in the glossary | – | – | – | – | – | – | – | – | – | 8.8% | 10.0% |
| Other expenses, % of revenueOther expenses, % of revenue. Operating costs besides materials and staff divided by revenue, times 100; with the two above and the operating margin it makes 100. Other expenses, % of revenue in the glossary | – | – | – | – | – | – | – | – | – | 42.7% | 38.1% |
| Depreciation and amortisation | – | – | – | – | 6 | 6 | 10 | – | 17 | 28 | 34 |
| Operating profit after depreciationOperating profit after depreciation (EBIT). Operating profit before depreciation, less depreciation and amortisation. Operating profit after depreciation (EBIT) in the glossary | – | – | – | – | 541 | 724 | 942 | – | 1,450 | 1,713 | 2,064 |
| Other income | 3 | 1 | 25 | 1 | 2 | 1 | 2 | – | 11 | 35 | 29 |
| Finance costs | 27 | 9 | 106 | 396 | 488 | 650 | 783 | – | 1,128 | 1,294 | 1,562 |
| Profit before one-off items and tax | 10 | 21 | 75 | 135 | 54 | 75 | 161 | – | 332 | 455 | 531 |
| One-off items | – | – | – | – | 24 | −34 | – | – | – | 29 | – |
| Profit before tax | 10 | 21 | 75 | 135 | 78 | 41 | 161 | – | 332 | 484 | 560 |
| 1 | 3 | 20 | 43 | 9 | 4 | 49 | – | 115 | 157 | 189 | |
| Net profit | 9 | 17 | 55 | 92 | 70 | 37 | 112 | – | 217 | 327 | 371 |
| Net margin | 7.0% | 31.3% | 23.2% | 13.1% | 8.7% | 3.4% | 7.9% | – | 8.0% | 9.1% | 9.2% |
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2013, Mar 2014, Mar 2015 and Mar 2017 they do not, so they are left blank. Operating expenses, operating profit before depreciation and operating profit after depreciation are left blank for the years to Mar 2009, Mar 2010, Mar 2011 and Mar 2012: the statement does not state its depreciation, which operating profit is worked out from, so operating profit is not given.
Ratios
Standalone, years to March.
| Ratio | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growthRevenue growth. This year's revenue less last year's, divided by last year's, times 100; blank where last year's is not above nought. Revenue growth in the glossary | 153.1% | – | 331.5% | 194.3% | 13.7% | 35.2% | 32.0% | – | – | 32.3% |
| Operating profit growthOperating profit growth. This year's operating profit before depreciation less last year's, divided by last year's, times 100; blank where last year's is not above nought. Operating profit growth in the glossary | – | – | – | – | – | 33.6% | 30.4% | – | – | 18.8% |
| Net profit growthNet profit growth. This year's net profit less last year's, divided by last year's, times 100; blank where last year's is not above nought. Net profit growth in the glossary | 4.7% | – | 219.1% | 66.8% | −24.3% | −47.0% | 202.9% | – | – | 50.8% |
| Earnings per share growthEarnings per share growth. This year's earnings per share less last year's, on the same share count, divided by last year's, times 100; blank where last year's is not above nought. Earnings per share growth in the glossary | −11.4% | – | 215.0% | 65.5% | −26.3% | −50.4% | 159.2% | – | – | 43.5% |
| Interest coverInterest cover. Operating profit after depreciation divided by finance costs: how many times over the profit pays the interest bill. Interest cover in the glossary | – | – | – | – | 1.1 | 1.1 | 1.2 | – | 1.3 | 1.3 |
Revenue growth, net profit growth and earnings per share growth are left blank for the year to Mar 2010: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out.
Growth and returns over 3, 5 and 10 years
Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2018.
| Measure | 10 years | 5 years | 3 years |
|---|---|---|---|
| Revenue growth, yearly rateRevenue growth, yearly rate. 3 years: Revenue in the latest year ÷ revenue in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Revenue in the latest year ÷ revenue in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Revenue in the latest year ÷ revenue in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | – | 35.1% | 36.2% |
| Profit growth, yearly rateProfit growth, yearly rate. 3 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | – | 36.2% | 42.9% |
| Operating margin, averageOperating margin, average. 3 years: The plain average of the yearly operating profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly operating profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly operating profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 59.2% | 51.2% |
| Net margin, averageNet margin, average. 3 years: The plain average of the yearly net profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly net profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly net profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 12.4% | 7.1% | 8.5% |
| Interest cover, averageInterest cover, average. 3 years: The plain average of the yearly interest cover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly interest cover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly interest cover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 1.2 | 1.3 |
Accounting checks
Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.
| Check | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Effective tax ratePublished threshold 17.16 per cent | 5.48 | 16.74 | 26.50 | 31.77 | 11.05 | 9.55 | 30.56 | – | – | – |
A threshold marked as ours has no published figure; it is the line we read the check against.
Business segments
In the quarter to Sep 2018 the company reports one business segment, Financing Activities, which carries all its revenue.
Where the return came from
Yearly rates to Mar 2018, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −21.3% | +43.5% | −45.1% | 0.0% |
| 3 years | +15.5% | – | – | 0.0% |
| 5 years | +30.6% | – | – | 0.0% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E over 3 and 5 years are left empty: the earnings per share stated for one end does not match that year's profit and share count, and no share count is on record to work it out.
Capital First share price by year
Each calendar year to 2018.
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2018 | 587.20 | −15.3% | 845.60 | 450.45 |
| 2017 | 692.95 | +20.8% | 828.10 | 571.85 |
| 2016 | 573.65 | +38.2% | 766.85 | 353.15 |
| 2015 | 414.95 | +13.0% | 457.65 | 343.70 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 10 trading days to 27 Dec 2018, as traded on BSE.
| Date | Open | High | Low | Close | Average price | Volume |
|---|---|---|---|---|---|---|
| 27 Dec 2018 | 598.00 | 599.85 | 583.10 | 587.20 | 589.57 | 52,05,578 |
| 26 Dec 2018 | 593.80 | 597.35 | 580.00 | 592.45 | 588.16 | 16,26,028 |
| 24 Dec 2018 | 591.15 | 603.35 | 588.70 | 593.55 | 596.47 | 9,30,057 |
| 21 Dec 2018 | 608.50 | 612.60 | 590.00 | 593.05 | 597.66 | 13,59,566 |
| 20 Dec 2018 | 588.90 | 606.95 | 581.10 | 604.75 | 597.21 | 21,59,357 |
| 19 Dec 2018 | 584.20 | 600.45 | 563.45 | 591.40 | 584.02 | 37,21,954 |
| 18 Dec 2018 | 537.90 | 569.90 | 536.40 | 567.95 | 561.58 | 25,18,057 |
| 17 Dec 2018 | 535.10 | 548.00 | 535.10 | 540.85 | 542.93 | 5,28,877 |
| 14 Dec 2018 | 544.35 | 548.50 | 528.05 | 537.10 | 538.69 | 6,99,347 |
| 13 Dec 2018 | 524.00 | 554.30 | 521.05 | 545.15 | 539.39 | 16,87,517 |
Prices in ₹ per share as traded, not adjusted.
Company details
- BSE code
- 532938
- ISIN
- INE688I01017
- Former symbols
- CAPF, FCH
- Website
- www.capfirst.com
- CIN
- L29120MH2005PLC156795
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2005
- Registered office
- One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, Lower Parel (W), Mumbai 400013, Maharashtra
- Share registrar
- Link Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments