Orbis Financial Corporation Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹100
- Market Cap
- ₹1,247.54 Cr
- ISIN
- INE155K01013
- Face Value
- ₹100
- P/E Ratio
- 8.83
- EPS
- 11.32
- P/B Ratio
- 1.65
- Book Value
- 60.6
- Debt / Equity Ratio
- 0
Key Financials
Profit & Loss
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 424.2 | 296.7 | 154.2 | 66.6 | 33.7 | 15.9 |
| Growth % | 43.0% | 92% | 132% | 97% | 112% | 0 |
| Operating Expenses | 175.8 | 133.6 | 94.2 | 56.0 | 20.2 | 11.6 |
| Growth % | 31.6% | 42% | 68% | 178% | 74% | 0 |
| Operating Profit | 248.5 | 163.1 | 60.0 | 10.6 | 13.6 | 4.4 |
| Op. Profit Margin % | 58.6% | 55.0% | 38.9% | 15.9% | 40.2% | 27.4% |
| Other Income | 7.2 | 3.1 | 36.9 | 20.0 | 10.2 | 6.5 |
| Finance Costs | 64.8 | 42.3 | 30.3 | 9.9 | 6.5 | 1.3 |
| Depreciation | 3.6 | 2.0 | 1.3 | 1.2 | 0.9 | 0.6 |
| Profit Before Tax | 187.2 | 121.9 | 65.2 | 19.5 | 16.3 | 9.0 |
| Tax | 45.9 | 32.3 | 17.4 | 3.6 | 4.8 | 1.8 |
| Tax % | 24.5% | 27% | 27% | 18% | 29% | 20% |
| Profit After Tax | 141.3 | 89.6 | 47.8 | 15.9 | 11.6 | 7.2 |
| Growth % | 57.7% | 87.3% | 200.6% | 37.6% | 60.3% | 0 |
| PAT % | 33.3% | 30% | 31% | 24% | 34% | 45% |
| Diluted EPS | 11.3 | 8.34 | 5.03 | 1.8 | 1.7 | 0 |
Company Financials
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Equity Capital | 121.8 | 113.6 | 94.3 | 87.6 | 65.5 | 65.5 |
| Reserves | 566.5 | 315.4 | 128.7 | 67.44 | 13.95 | 2.03 |
| Total Equity | 688.2 | 429.0 | 223.0 | 155.1 | 79.45 | 67.53 |
| Total NC Liabilities | 11.0 | 14.0 | 2.0 | 1.77 | 2.87 | 1.53 |
| Total Current Liabilities | 4285.5 | 4597.2 | 3699.3 | 2144.6 | 410.8 | 261.2 |
| Equity + Liabilities | 4984.7 | 5040.2 | 3924.4 | 2301.4 | 493.1 | 330.3 |
| Fixed Assets (incl. WIP) | 12.8 | 26.2 | 14.5 | 13.64 | 14.01 | 12.61 |
| Other Non Current Assets | 91.9 | 356.0 | 695.6 | 678.2 | 21.5 | 21.3 |
| Total NC Assets | 104.7 | 382.1 | 710.1 | 691.81 | 35.46 | 33.88 |
| Trade Receivables | 49.5 | 29.8 | 8.8 | 12.54 | 9.49 | 3.89 |
| Cash & Cash Equivalents | 599.8 | 4143.4 | 3178.2 | 883.77 | 195.09 | 108.19 |
| Other Current Assets | 4230.8 | 484.8 | 27.3 | 713.3 | 253.1 | 184.3 |
| Total Current Assets | 4880.0 | 4658.1 | 3214.3 | 1609.64 | 457.65 | 296.37 |
| Total Assets | 4984.7 | 5040.2 | 3924.4 | 2301.5 | 493.1 | 330.3 |
Shareholding Pattern
- Atul Gupta
- 23.3%
- Arpit Khandelwal
- 19.8%
- Multi-Act Private Equity Investment Trust
- 8.1%
- Plutus Wealth Management LLP
- 8.1%
- Orbis Foundation
- 6.1%
- Others
- 34.6%
Strengths & Weaknesses
Strengths
- High Number of Institutional Clients: As of Sep’23, the company catered to 310 FPIs, 312 FDIs, 321 PMS, 112 AIFs, and 2,121 HNI/NRIs and corporates.
- Health Net-Worth: Orbis’ net worth increased to ~₹429 Cr, as of Mar’23, from ₹79 Cr in Mar’20.
- Fund Raise: Orbis raised ₹102 Cr in 2023 from seasoned investor Ashish Kacholia. In a previous funding round, they successfully secured ₹111 Cr.
- Healthy Profitability: As on Mar’23, Profit After Tax (PAT) increased ~87% to ~₹121 Cr.
- High Clearing Volume: In the clearing business particularly in equity derivatives, the overall volumes cleared by Orbis increased at 58% CAGR in the past two years to ~₹32 Lakh Cr in FY23
Weaknesses
- Concentrated Income: the revenue profile remains characterized by limited diversification, with treasury/interest income accounting for 65% of Net Operating Income (NOI) in FY23, followed by the custodial fee at 29% of NOI.
- Volatility: Orbis' operations are tied to the inherently volatile capital markets, making its revenue and profitability susceptible to market fluctuations.
About Orbis Financial Corporation Ltd
Orbis, incorporated in 2005, promoted by Mr. Atul Gupta, who held approximately a 23% stake as of March 31, 2023. The company serves as a capital market intermediary, offering custodial, fund accounting, professional clearing, depository services, share transfer, FPI registration, and trustee services to a diverse range of clients, including FPI, PMS, FDI, DII, and AIFs.
Board of Directors
- ATUL GUPTA - Chairman and WTD
- SHYAM AGARWAL - MD & CEO
- PRANAY KOTHARI - Independent Director
- S.A.R. ACHARYA - Independent Director
- RUP CHAND JAIN - Director
- MANASI GUPTA - Director
Senior Management
- Atul Gupta - Chairman
- Shyam Agarwal - MD & CEO
- Ashu Agarwal - CFO