CCIL - Country Club India Ltd is one of the fastest growing entertainment and leisure conglomerate in India. A Multi-Million dollar entity, CCIL is a pioneer in the concept of family clubbing in the country.
CCIL has established 205 properties of which 50 are owned and 155 are franchised properties.Presently it has 172 plus affiliations plus a global gateway via Country Vacations and RCI affiliation of 4000 resorts for its esteemed members.
CCIL has established 205 properties of which 50 are owned and 155 are franchised properties.Presently it has 172 plus affiliations plus a global gateway via Country Vacations and RCI affiliation of 4000 resorts for its esteemed members.
Some Financial Figures:
Market Cap - 130.93;
Book Value - 85.50;
Price/Book - 0.20; Div(%) - 20.00; Div Yield (%) - 2.37
Face Value - 2.00;
Reserves - Rs. 646.47 Cr
Networth - Rs. 667.98 Cr
Total No. of outstanding shares – 7,74,24,735
Promoters’ Holding – 3,10,66,705 (40.13%)
General Public Holding – 75,03,221 (9.69%)
Total Debt / Equity Ratio – 0.13
Around 30% of holding is with Institutions.
During the year 07-08 the Company has issued and allotted 4,32,912 Equity Shares of Rs. 10/- each on October 20, 2007 at a price of Rs. 515 per share (Rs. 105 after Stock split) upon partial conversion of Foreign Currency Convertible Bonds FCCB) of USD 5 Millions.
To augment the long-terms resources to the Company, the Company had raised funds by way of issue of Global Depository Receipts (GDRs), convertible warrants and equity shares through qualified institution placement mechanism. During 07-08, the Company has issued and allotted 6,00,000 warrants to the promoters and outsiders at a price of Rs. 600/- per warrant (Rs. 120 after Stock Split) convertible into equal number of Equity Shares of Rs. 10/- each. These warrants are due for conversion.
In the month of January, 2008 the Company has issued and allotted 18, 80,322 Equity Shares of Rs. 10/- each at a price of Rs. 770/- per Equity Share (Rs. 154 after Stock Split) to Qualified Institutional Buyers Also, the Company has issued 2, 21, 57, 065 Global Depository Receipts (GDRs) aggregating an amount of USD86.90 million representing 44, 31, 413 underlying Equity Shares of Rs. 10/- each issued at a price of Rs. 770/- per Equity Share in the month of January, 2008. These GDRs are trading at Luxemburg Stock Exchange, London. As on date 1, 71, 27, 065 GDRs are outstanding. In order to increase the liquidity of the shares, decrease the volatility and broad base the small investors, company came out with stock split of Equity Share of Rs. 10/- each into 5 equity shares of Rs. 2/- each fully paid-up.
Face Value - 2.00;
Reserves - Rs. 646.47 Cr
Networth - Rs. 667.98 Cr
Total No. of outstanding shares – 7,74,24,735
Promoters’ Holding – 3,10,66,705 (40.13%)
General Public Holding – 75,03,221 (9.69%)
Total Debt / Equity Ratio – 0.13
Around 30% of holding is with Institutions.
During the year 07-08 the Company has issued and allotted 4,32,912 Equity Shares of Rs. 10/- each on October 20, 2007 at a price of Rs. 515 per share (Rs. 105 after Stock split) upon partial conversion of Foreign Currency Convertible Bonds FCCB) of USD 5 Millions.
To augment the long-terms resources to the Company, the Company had raised funds by way of issue of Global Depository Receipts (GDRs), convertible warrants and equity shares through qualified institution placement mechanism. During 07-08, the Company has issued and allotted 6,00,000 warrants to the promoters and outsiders at a price of Rs. 600/- per warrant (Rs. 120 after Stock Split) convertible into equal number of Equity Shares of Rs. 10/- each. These warrants are due for conversion.
In the month of January, 2008 the Company has issued and allotted 18, 80,322 Equity Shares of Rs. 10/- each at a price of Rs. 770/- per Equity Share (Rs. 154 after Stock Split) to Qualified Institutional Buyers Also, the Company has issued 2, 21, 57, 065 Global Depository Receipts (GDRs) aggregating an amount of USD86.90 million representing 44, 31, 413 underlying Equity Shares of Rs. 10/- each issued at a price of Rs. 770/- per Equity Share in the month of January, 2008. These GDRs are trading at Luxemburg Stock Exchange, London. As on date 1, 71, 27, 065 GDRs are outstanding. In order to increase the liquidity of the shares, decrease the volatility and broad base the small investors, company came out with stock split of Equity Share of Rs. 10/- each into 5 equity shares of Rs. 2/- each fully paid-up.
For the year 07-08, Company's sales is Rs. 306 Cr & Net profit is Rs. 65 Cr.For the 9 months ending Dec'08, Company has achieved sales of Rs. 242 Cr & Net Profit of Rs. 20 Crore, last two quarters being unfavourable due to slow down. Still, EPS is around Rs 4.
Recent Acquisitions:
M/s. CHANAKYAPURI RESORTS PRIVATE LIMITED in Kolkata
M/s. ARTS AND ENTERTAINMENTS PRIVATE LIMITED in Cochin
M/s. JADE RESORTS PRIVATE LIMITED in MGR District
M/s. KOLET RESORT CLUB PRIVATE LIMITED in Ahmedabad
M/s. BRIGHT RESORTS PRIVATE LIMITED in Kearla
Acquisition of Property having 102 rooms in Dubai
Concerns:
This is into Hotels & leisure industry which is facing severe slowdown due to the economic crisis.
There is some amount of FCCB, which is still outstanding in the books of the company, this amount is close to about Rs 80 crore. However, at the same time, the company was holding about Rs 300 crore as cash in the books of the company as on March 31, 2008. They would have spent some cash for acquisition.
There is some amount of FCCB, which is still outstanding in the books of the company, this amount is close to about Rs 80 crore. However, at the same time, the company was holding about Rs 300 crore as cash in the books of the company as on March 31, 2008. They would have spent some cash for acquisition.
Positives:
The concept of FAMILY CLUB is catching up with Indians. And with burgeoning Middle class population & improving living standard, this industry will witness tremendous growth. The comforting and heartening factor here is that promoters of the company have been doing a creeping acquisition. The shareholding pattern of March has not been filed till date. Looking at various disclosure statements made by the promoter–the promoters have acquired close to 4.5% to 5% between December and middle of March, which I think is a big positive.
We have commonwealth games in India next year & this event will see the rerating of this industry.
So at the current price the risk reward is extremely favourable in favour of the later.
So considering all those factors, I think from Rs 16 one can expect a huge upside.
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