EROS INTERNATIONAL MEDIA - Details Analysis for Long Term Portfolio

EROS INTERNATIONAL MEDIA 
- Details Analysis for Long Term Portfolio
Sector: Services / Media | Industry: Recreational Services
Financial Data Source - https://www.valueresearchonline.com/

6M Average Volume: 521,040	P/B: 2.11	MARKET CAP: 3317.65
52-Week Range: 237.20 - 643.95	Dividend Yield: 0.00%	P/E: 12.54
TTM EPS:  28.31	Book Value:  168.11	Face Value:  10

About Company -

EROS MEDIA are part of the Eros International Group and the leading global company in the Indian film entertainment industry, and They co-produce, acquire and distribute Indian language films in multiple formats worldwide including; theatrical, television syndication & digital platforms.

EROS success is built on the relationships we have cultivated over the past 35 years with leading talent, production companies, exhibitors and other key participants in our industry. Leveraging these relationships, we have aggregated rights to over 1,100 films in our library, plus an additional 700 films for which we hold digital rights only.

The group has a distribution network that spans over 50 countries, with offices in India, UK, USA, Dubai, Australia, Fiji, Isle of Man and Singapore.

In 2006, Eros International Plc, the holding company of the Eros Group, became the first Indian media company to list on the Alternative Investment Market (AIM) of the London Stock Exchange

EROS distribution capabilities enable them to target a majority of the 1.2 billion people in India, our primary market for Hindi language films. We have distribution offices in Mumbai, Delhi, Punjab, Mysore and Chennai.

News & Upcoming Releases -

• Shares of Eros International Media have tanked 19% on 26 Oct 2015  due the news that “Eros International under Wells Fargo’s scanner, stock downgraded.”
  
  According to Economic Times reports, Eros International, a Bollywood film producer and distributor, has come under attack of a leading Wall Street bank, Wells Fargo
• Acquired 51% stake with effect from 2008 in TAMIL FILMS: AYNGARAN
• Ayngaran is an established player in Tamil content and distribution business
• Presence in other select regional language film markets
• Eros International & NextGen Films to co-produce psychological thriller PHOBIA featuring Radhika Apte
• Eros International to release Salim Ahamed’s upcoming Malayalam film Pathemari
• Eros International acquires Punjabi film – Diljit Dosanjh starrer Mukhtiar Chadha
• BAJIRAO MASTANI to be release on 18 Dec 2015 (Ranveer Singh, Deepika Padukone, Priyanka Chopra)
• SHIVAAY to be released on 22 Jan 2016 ( Ajay Devgan, Sayesha)
• SARKAR 3 - Upcoming Releases ( Amitabh Bachchan, Abhishek Bachchan)
• AAKHEN 2 - Upcoming Releases (Abhishek Bachchan)

Annual Ratios (%)
	1-Year	3-Years	5-Years
Growth
Revenue	25.25	14.62	17.27
Net Profit	27.80	18.32	24.49
EPS	23.01	18.34	18.36
Book Value	21.74	20.60	36.93
Average
Operating Margin	26.02	25.39	25.09
Net Margin	17.12	16.12	16.03
Return on Networth	18.46	17.77	19.89
Return on Investment	20.08	19.32	20.50

Interim Growth Ratios (%)
	QoQ	YoY	YTD
Quarterly
Revenue	5.22	95.65	5.22
Operating Profit	15.13	58.69	15.13
Net Profit	22.51	76.68	22.51
EPS	3.06	48.08	3.06
TTM
Revenue	16.25	38.86	16.25
Operating Profit	9.79	26.88	9.79
Net Profit	11.13	36.49	11.13
EPS	7.00	240.78	7.00

• Consolidated

	TTM	Mar-15	Mar-14	Mar-13	Mar-12	Mar-11	Mar-10
Income Statement							R Cr
Operating Revenue	1,652.16	1,421.17	1,134.66	1,067.95	943.88	706.97	640.88
Other Income	26.29	21.23	10.04	17.64	27.12	12.10	16.34
Total Income	1,678.45	1,442.40	1,144.70	1,085.59	971.00	719.07	657.22
Total Expenditure	1,273.93	1,072.59	834.91	841.68	730.95	550.38	527.85
Operating Profit	404.52	369.81	309.79	243.91	240.05	168.69	129.38
Interest	37.49	39.77	37.80	20.46	21.80	12.99	12.74
PBDT	367.03	330.04	271.99	223.45	218.25	155.70	116.64
Depreciation	6.63	6.89	5.02	6.45	6.00	3.82	4.39
PBT & Exceptional Items	360.40	323.15	266.97	217.00	212.25	151.88	112.24
Exceptional Items	-	-	-	-	-	-	-
Profit before Tax	360.40	323.15	266.97	217.00	212.25	151.88	112.24
Provision for Tax	85.91	76.15	73.70	61.19	63.14	33.67	29.63
Profit after Tax	274.49	247.00	193.27	155.81	149.11	118.21	82.62
Minority Interest	-9.92	0.06	6.42	-1.28	-1.27	-0.98	-0.50
Share of Associate	-	-	-	-	-	-	-
Consolidated Profit	264.57	247.06	199.69	154.53	147.84	117.23	82.11
Liabilities							R Cr
Share Capital	92.50	92.50	91.97	91.92	91.74	91.41	71.41
Total Reserves	1,389.71	1,380.21	1,110.81	890.68	740.97	573.53	164.80
Shareholder's Funds	1,482.21	1,482.21	1,208.62	986.49	834.61	670.48	237.54
Minority Interest	1.20	1.20	1.27	7.69	6.41	5.14	4.17
Total Debt	95.33	491.46	433.23	403.23	448.14	275.01	217.83
Other Non Current Liabilities	3.22	-135.93	-127.06	-112.02	-224.39	-176.24	49.81
Current Liabilities	1,429.69	1,429.69	677.37	517.42	626.95	590.92	495.92
Total Liabilities	1,581.96	1,581.96	1,310.87	1,131.92	962.54	706.65	459.54
Assets							R Cr
Net Block	1,214.13	1,214.13	1,040.83	792.27	528.78	331.99	271.97
Non Current Investments	-	-	8.00	8.00	8.00	8.00	8.00
Other Non-Current Assets	1,159.98	1,159.98	731.50	524.35	470.99	476.25	0.28
Current Investments	-	-	-	0.20	43.50	147.47	-
Cash and Bank	169.68	169.68	154.36	172.50	300.36	143.54	107.24
Other Current Assets	724.84	724.84	258.74	305.49	340.09	258.06	617.77
Net Current	-535.17	-535.17	-264.27	-39.23	57.00	-41.85	229.09
Total Assets	1,581.96	3,268.63	2,193.43	1,802.81	1,691.72	1,365.31	1,005.26
Cash Flow							R Cr
From Operations	-	933.34	871.71	647.92	405.64	426.70	329.72
From Investing Activities	-	-1,078.74	-785.77	-673.65	-682.21	-543.10	-256.41
From Finance Activities	-	32.77	6.80	-63.64	159.40	333.35	-2.18
Net Inflow/Outflow	-	-112.63	92.74	-89.37	-117.17	216.95	71.13
Key Ratios
Adjusted EPS (Rs)	28.31	26.71	21.71	16.81	16.12	12.82	11.50
Adjusted Book Value (Rs)	168.11	159.21	130.78	106.90	90.77	72.74	33.08
Dividend per Share (Rs)	-	0.00	0.00	1.50	0.00	0.00	0.00
Cash Flow per Share (Rs)	-	100.90	94.78	70.49	44.22	46.68	46.17
Debt to Equity	0.06	0.33	0.36	0.41	0.54	0.41	0.92
Current Ratio	0.63	0.63	0.61	0.92	1.09	0.93	1.46
ROCE (%)	-	20.08	20.11	17.77	21.01	23.54	30.29
RONW (%)	20.40	18.46	17.69	17.17	19.91	26.24	41.91
Operating Margin (%)	24.48	26.02	27.30	22.84	25.43	23.86	20.19
Net Margin (%)	16.35	17.12	16.88	14.35	15.36	16.44	12.57
Revenue Growth (%)	38.86	25.25	6.25	13.14	33.51	10.31	2.29
Net Profit Growth (%)	36.49	27.80	24.04	4.49	26.14	43.08	10.57
EPS Growth (%)	240.78	23.01	29.15	4.32	25.66	11.52	12.01
Book Value Growth (%)	-	22.44	22.41	18.00	25.23	181.51	49.42
Market Cues
Close Price (Rs)	371.40	401.00	169.20	172.85	180.35	136.45	-
High Price (Rs)	643.95	484.00	194.90	230.05	276.95	213.95	-
Low Price (Rs)	237.20	158.00	106.75	153.00	136.60	124.30	-
Market Cap (Rs Cr)	3,317.65	3,709.71	1,546.94	1,591.14	1,661.87	1,269.68	0.00
Price / Earnings	12.54	15.02	7.75	10.30	11.24	10.83	0.00
Price / Book Value	2.11	2.52	1.29	1.62	2.00	1.91	0.00
Dividend Yield (%)	0.00	0.00	0.00	0.87	0.00	0.00	-

TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.

• Standalone

	TTM	Mar-15	Mar-14	Mar-13	Mar-12	Mar-11	Mar-10
Income Statement							R Cr
Operating Revenue	1,126.22	1,071.70	857.12	925.31	802.00	477.66	534.57
Other Income	21.62	20.38	7.23	19.14	26.99	11.87	17.43
Total Income	1,147.84	1,092.08	864.35	944.45	828.99	489.53	551.99
Total Expenditure	921.89	847.78	636.68	739.12	631.75	373.32	458.77
Operating Profit	225.95	244.30	227.67	205.33	197.24	116.21	93.22
Interest	37.53	39.81	37.77	20.62	20.43	12.05	10.92
PBDT	188.42	204.49	189.90	184.71	176.81	104.16	82.30
Depreciation	6.39	6.62	4.76	5.69	4.23	1.70	2.00
PBT & Exceptional Items	182.03	197.87	185.14	179.02	172.58	102.46	80.30
Exceptional Items	-	-	-	-	-	-	-
Profit before Tax	182.03	197.87	185.14	179.02	172.58	102.46	80.30
Provision for Tax	73.49	73.68	71.47	61.93	62.79	32.90	28.74
Profit after Tax	108.54	124.19	113.67	117.09	109.79	69.56	51.56
Liabilities							R Cr
Share Capital	92.50	92.50	91.97	91.92	91.74	91.41	71.41
Total Reserves	936.95	927.45	795.20	680.30	576.18	460.94	90.78
Shareholder's Funds	1,029.45	1,029.45	893.01	776.11	669.82	557.89	163.53
Total Debt	95.33	471.71	433.64	403.12	365.87	170.01	169.34
Other Non Current Liabilities	3.14	-118.72	-128.40	-115.14	-148.05	-77.32	48.53
Current Liabilities	742.62	742.62	479.32	414.10	508.91	457.16	343.53
Total Liabilities	1,127.92	1,127.92	993.06	908.46	783.97	582.21	332.87
Assets							R Cr
Net Block	864.71	864.71	714.11	609.66	434.79	256.26	202.89
Non Current Investments	20.43	20.43	20.42	20.41	20.41	20.41	20.41
Other Non-Current Assets	918.12	918.12	573.41	478.67	436.61	471.93	0.28
Current Investments	-	-	-	0.20	43.50	147.47	-
Cash and Bank	38.54	38.54	151.45	170.44	298.96	93.59	100.62
Other Current Assets	283.26	283.26	218.18	198.81	162.28	118.08	400.74
Net Current	-420.82	-420.82	-109.69	-44.65	-4.17	-98.02	157.82
Total Assets	1,127.92	2,125.06	1,677.57	1,478.19	1,396.55	1,107.74	724.93
Cash Flow							R Cr
From Operations	-	762.62	544.59	415.57	353.60	286.01	242.60
From Investing Activities	-	-890.70	-460.27	-524.49	-593.62	-435.36	-216.09
From Finance Activities	-	13.28	6.77	18.75	183.50	313.91	41.64
Net Inflow/Outflow	-	-114.80	91.09	-90.17	-56.52	164.56	68.16
Key Ratios
Adjusted EPS (Rs)	11.61	13.43	12.36	12.74	11.97	7.61	7.22
Adjusted Book Value (Rs)	113.83	110.26	96.46	84.01	72.81	60.43	22.71
Dividend per Share (Rs)	-	0.00	0.00	1.50	0.00	0.00	0.00
Cash Flow per Share (Rs)	-	82.45	59.21	45.21	38.54	31.29	33.97
Debt to Equity	0.09	0.46	0.49	0.52	0.55	0.31	1.04
Current Ratio	0.43	0.43	0.77	0.89	0.99	0.79	1.46
ROCE (%)	-	16.81	17.79	18.03	21.89	21.59	32.26
RONW (%)	11.29	13.02	13.70	16.26	17.99	19.47	37.80
Operating Margin (%)	20.06	22.80	26.56	22.19	24.59	24.33	17.44
Net Margin (%)	9.46	11.37	13.15	12.40	13.24	14.21	9.34
Revenue Growth (%)	22.84	25.04	-7.37	15.38	67.90	-10.65	11.65
Net Profit Growth (%)	-7.81	9.25	-2.92	6.65	57.83	34.91	7.64
EPS Growth (%)	83.09	8.63	-2.97	6.44	57.27	5.39	7.63
Book Value Growth (%)	-	14.97	14.89	15.62	20.92	240.56	46.61
Market Cues
Close Price (Rs)	371.40	401.00	169.20	172.85	180.35	136.45	-
High Price (Rs)	643.95	484.00	194.90	230.05	276.95	213.95	-
Low Price (Rs)	237.20	158.00	106.75	153.00	136.60	124.30	-
Market Cap (Rs Cr)	3,317.65	3,709.71	1,546.94	1,591.14	1,661.87	1,269.68	0.00
Price / Earnings	30.57	29.87	13.61	13.59	15.14	18.25	0.00
Price / Book Value	3.12	3.64	1.74	2.06	2.49	2.30	0.00
Dividend Yield (%)	0.00	0.00	0.00	0.87	0.00	0.00	-

TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.

Technical Analysis - 


Monthly Chart -

 
Weekly Chart -

Daily Chart -

UPL - Multi-frame Study - Long Term Bullish

UPL - Multi-frame Study - Long Term Bullish

UPL MONTHLY -

 Look at Classical Cup & Handle Breakout with High Volume and RSI 60 Level Cross simultaneously.


UPL WEEKLY -

Higher High & Higher Low pattern
Price Reversed back to Accumulation Zone and Testing Support Trend line
Reversal Candlestick Pattern - Hammer at Bottom
Reverse Divergence or Hidden Divergence with RSI 40 level Touch (Good R:R Entry)

UPL DAILY -

Wait for BUY for Longer Term Investment....

Daily Price chart not showing Reversal Signal to upside as of now.
Moving Avg are negative, Lower Low & Higher Low formation on Daily price movement
Wait for Descending traingle Breakout with Volume or RSI 60 Cross confirmation

Reliance Industry Ltd - Technical Study for Mid Term Perspective

Reliance Industry Technical Study for Mid Term Perspective

RIL Monthly Chart -

RIL Weekly Chart -

RIL Daily Chart -

RIL Hourly Chart -

ADANI PORT & SEZ Multiframe Technical Visuals

ADANI PORT & SEZ

Technical Multi time frame Visuals -

Monthly Chart -

Weekly Chart -

Daily Chart -

We should have this stock in our long term portfolio

JYOTHY LAB - Detailed Technical Analysis Study

JYOTHY LABORATORIES LIMITED                                    Date: 18 July 2015

CMP 306.45

Fundamental Snaps -

Sector - FMCG,                                 Industry - Cosmetics & Toiletries

6M Average Volume: 171,518	P/B: 7.38	PE: 45.73
52-Week Range:  175.20 - 314.90	Dividend Yield: 1.31%	Market CAP: 5539.32
TTM EPS:  6.69	Book Value:  41.48	Face Value:  1

Detailed Technical Analysis -

Long Term View - Bullish

Medium Term View - Sideways

Short Term View - Bullish

Monthly Chart -

v  Very Nice Higher High & Higher Low price structure on Monthly Chart

v  Long Term Breakout observed in Aug 2012, till now it continue to maintain the bullish structure

v  3rd Hidden Positive Divergence recently on May Month which is extreme bullish view for Longer term

v  Must have this stock in the portfolio for longer term.

v  Current July Month is ongoing and stock price is near at Resistance level

v  Accumulate this at every fall with Stop loss of 235

Weekly Chart -

  v  On weekly chart, Circled area located was the Smart money entry area. Hidden Divergence indicates the Smart money did investment.

v  What is Hidden Positive Divergence ( few also called as False Divergence) -

o    Hidden Divergence is opposite of simple Positive Divergence. So let's understand simple divergence.
o    When price breaks the last swing low (Lower Low formation) but RSI didn't break its last swing low (Higher Low Formation) is called positive Divergence.
o    So Hidden Positive Divergence is exactly opposite of Simple divergence. When Price makes higher low (didn't break previous swing low) and RSI made higher high formation (Breaks its previous low) is called Hidden Positive Divergence.

v  As per Elliott wave, Complete upmove is in the ascending channel and looks like complex correction.

v  Complex correction will have 2 or 3 complex patterns and hence marking them as ABC - X - ABC - X -ABC

v  Currently price is in the 2nd complex pattern and Wave 'B' is ongoing.

v  if last high of 314.90 breaks in next 3 weeks then we can consider Wave 'B' is completed and Currently price is in Wave 'c'

v  Currently price is at 306.45, hence high possibility that price will breach last high in coming days.

v  So, There is high probability that price is in the C wave.

v  But Before that lets drill down more  details of ongoing Wave 'B' in daily chart below.

Daily Chart - 

v  On Daily Chart, Price looks to be near to resistance and on verge to breakout its Resistance.

v  RSI is above 60.

v  we have missed the ideal Entry where 235 is marked or RSI 40 level and smart money entry area.

v  Anyhow what's now - we will try to figure out -

v  as per Elliott wave, Wave is B is ongoing on Higher Degree and Internal of B is either lat or Complex pattern.

v  Wave 'w-x-y' is completed as of now and currently it is either 'x' wave of 'B' or C wave of Higher degree. This will after few days.

v  Currently, Volume is not supporting to the last leg of upside at all.

v  If breakout happen above 315 with Higher volume then it confirms then Wave C is ongoing.

v  The last leg downside or wave 'y' has took 62 days and hence breakout has to happen before 10th August 2015, then only it will confirms that Wave 'B' is completed and Wave 'C' is ongoing.

v  If low volume and breakout not sustain then it will indicate that another last leg downside is pending as 'z' wave of wave 'B'.

Finally, My Take would be -
If we don't want to miss this rally (or future rally) and do the step wise investment with prudent money management rules as mentioned below-
1) On breakout with higer volume - Invest 1/3 of the capital above 315                1-1) If breakout not sustained then add 1/3 more near 320-325 level                1-2) and last 1/3 amount on retest level of 315 again.
                                                ORIf breakout and breakout not sustained
2) add second 1/3 amount at level 290-260 level
3) third 1/3 amount again again on next breakout 315 level
 Then Hold complete amount for target of C wave  -

ü  1st target is 365

ü  2nd target will be 444

ü  with Stop Loss 235

Happy Investing!!!

Yogi :-)