About Talwalkars Better Value Fitness Ltd.
Talwalkars Better Value Fitness Ltd., incorporated in the year 2003, is a Mid Cap company (having a market cap of Rs 901.99 Crore) operating in Miscellaneous sector.
Talwalkars Better Value Fitness Ltd. key Products/Revenue Segments include Sale of services which contributed Rs 256.77 Crore to Sales Value (99.86 % of Total Sales) and Health Equipment & Fitness Accessories which contributed Rs .34 Crore to Sales Value (0.13 % of Total Sales)for the year ending 31-Mar-2017.
For the quarter ended 30-09-2017, the company has reported a Consolidated sales of Rs 97.16 Crore, up 71.26 % from last quarter Sales of Rs 56.73 Crore and up 6.08 % from last year same quarter Sales of Rs 91.59 Crore Company has reported net profit after tax of Rs 36.23 Crore in latest quarter.
The company’s top management includes Dr.Avinash Phadke, Mr.Abhijeet Patil, Mr.Anant Gawande, Mr.Dinesh Afzulpurkar, Mr.Girish Talwalkar, Mr.Harsha Bhatkal, Mr.Madhukar Talwalkar, Mr.Manohar Bhide, Mr.Mohan Jayakar, Mr.Prashant Talwalkar, Mr.Raman Maroo, Mr.Vinayak Gawande, Mrs.Mrunalini Deshmukh. Company has M K Dandekar & Co. as its auditoRs As on 30-09-2017, the company has a total of 29,704,856 shares outstanding.
Talwalkars Better value Fitness - Updates
1)Talwalkars Better Value Fitness Limited ('TBVF') has incorporated a Wholly Owned Subsidiary Company in Srilanka, "PWG Fitness (Pvt.) Ltd.", which is registered with the Registrar of Companies, at Srilanka.
2) Talwalkars Better Value Fitness inks JV with Mickey Mehta’s 360 Wellness
Talwalkar Better Value Fitness will hold 51 percent stake in the joint venture while Mickey Mehta’s 360 degree Wellness Temple will hold 49 percent shareholding.
Talwalkars Better Value Fitness inks JV with Mickey Mehta’s 360 Wellness
3)Talwalkars partners with Snap Fitness for international foray
The fitness chain will operate in Singapore, Malaysia, Vietnam, Thailand, Sri Lanka and Bangladesh, through its Singapore subsidiary, the company said.
Talwalkars partners with Snap Fitness for international foray
4) Talwalkars Better Value Fitness Ltd commences construction of first leisure club in Wakad, Pune
Talwalkars Better Value Fitness Ltd has announced the commencement of the construction of our first leisure club in Wakad, Pune.
This leisure club will bring international standard facilities to its members in partnership with the leading international brands. Facilities are likely to include are swimming, badminton, squash, tennis, table tennis along with restaurants, banquet facilities etc. The Company is optimistic that this will be the first of many clubs that is intended to fill the huge demand - supply gap of sports and leisure club facilities across India.
Ms. Hazel Geary, the COO of this venture, deputed by David Lloyd Leisure is spearheading the club project. She has been located in India since April, 2016 and is responsible for overseeing the design, construction and operation of the first club in Pune and is also identifying additional opportunities across India.
5) Other growth stories : India is getting fat. This gym chain wants to get huge
India is getting fat. This gym chain wants to get huge
Outlook & Valuation
Religare Securities has given buy rating with a target of Rs 346 for one-year horizon.
Religare expects Talwalkars's revenue and PAT to grow by 12.8% and 17.6% respectively over
FY17-20E, likely to be driven by robust outlook of fitness industry and company's efforts
towards steady gym additions and improving share of value added services. Increasing
focus on adopting the franchise route would ensure lower CAPEX and better free cash flow
generation. Higher contribution from value added services and cost rationalization
initiatives would result in steady improvement in EBITDA margins. Further, the company is
awaiting final approval from NCLT for demerger of its core gyming and lifestyle businesses.
This news (which is expected shortly) would be a key trigger for re-rating in valuations.
While we have downgraded our EPS estimates for FY18E & FY19E on the back of lower than
expected revenue growth in H1FY18, we have incorporated projections for FY20E. Based
on this, we maintain a BUY on the stock with target price of Rs 346.
Ventura Securities has initiated buy rating with a target of Rs 728 for two-year horizon.
Ventura Securities has initiated buy rating with a target of Rs 728.The broking firm sees potential upside of 173 percent over next 24 months.
Fitness industry offers a huge opportunity and the company is the market leader and twice as large as the next best peer, said broking firm.
According to firm, the demerger will bring superior return to the gym company, which is leading to a sharp re-rating.Gym company is expected to grow its revenues/EBITDA/net profit at 19 percent / 21.6 percent / 25.8 percent CAGR over FY17-20, while lifestyle company is expected to grow its revenues/EBITDA/net profit at 11.2 percent / 12.8 percent / 11.3 percent CAGR over FY17-20, it added.There is significant scope for further re-rating to the company given its dominant position and underpenetrated market.
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