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Indo Thai Securities Limited (533676) Press Release Analysis

Corporate Events

Neutral

Indo Thai Securities Limited to Report First Ha...

2022-11-02 12:34:00

Indo Thai Securities Limited announced that they will report first half, 2023 results on Nov 10, 2022

Neutral

Indo Thai Securities Limited, Board Meeting, No...

2022-11-02 12:34:00

Indo Thai Securities Limited, Board Meeting, Nov 10, 2022, at 16:00 Indian Standard Time. Agenda: To consider and approve the Standalone and C...

Positive

Indo Thai Securities Limited, 1.00 (INR), Cash ...

2022-09-08 21:22:00

Indo Thai Securities Limited, 1.00 (INR), Cash Dividend, Sep-22-2022

Neutral

Indo Thai Securities Limited - Shareholder/Analyst Call

2022-09-08 14:35:00

AGM

Neutral

Indo Thai Securities Limited, Annual General Me...

2022-09-08 14:35:00

Indo Thai Securities Limited, Annual General Meeting, Sep 30, 2022, at 17:00 Indian Standard Time. Agenda: To consider and adopt the Audited F...

Negative

Indo Thai Securities Limited Announces Changes ...

2022-09-02 13:06:00

Indo Thai Securities Limited approved the resignation of Mr. Sanjay Kushwah from the post of Company Secretary cum Compliance Officer of the C...

Neutral

Indo Thai Securities Ltd. to Report Q1, 2023 Re...

2022-08-06 07:11:00

Indo Thai Securities Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022

Neutral

Indo Thai Securities Ltd., Board Meeting, Aug 12, 2022

2022-08-06 07:11:00

Indo Thai Securities Ltd., Board Meeting, Aug 12, 2022, at 16:00 Indian Standard Time. Agenda: To consider the standalone and consolidated Una...

Positive

Indo Thai Securities Ltd. Recommends A Final Di...

2022-05-18 12:37:00

Indo Thai Securities Ltd. at its board meeting held on May 18, 2022 considered and recommended, subject to the approval of Shareholders, a div...

Neutral

Indo Thai Securities Ltd., Board Meeting, May 18, 2022

2022-05-10 12:41:00

Indo Thai Securities Ltd., Board Meeting, May 18, 2022, at 16:30 Indian Standard Time. Agenda: To consider and approve the Standalone and Cons...

Neutral

Indo Thai Securities Ltd. to Report Q4, 2022 Re...

2022-05-10 12:41:00

Indo Thai Securities Ltd. announced that they will report Q4, 2022 results at 4:30 PM, Indian Standard Time on May 18, 2022

Neutral

Indo Thai Securities Limited to Report Q3, 2022...

2022-02-03 07:07:00

Indo Thai Securities Limited announced that they will report Q3, 2022 results on Feb 11, 2022

Neutral

Indo Thai Securities Limited, Board Meeting, Fe...

2022-02-03 07:07:00

Indo Thai Securities Limited, Board Meeting, Feb 11, 2022, at 10:30 Indian Standard Time. Agenda: To consider and approve Standalone and Conso...

Positive

Indo Thai Securities Limited Incorporates Subsi...

2022-01-03 12:41:00

Indo Thai Securities Limited has incorporated a subsidiary in the name of Femto Green Hydrogen Limited. Femto Green Hydrogen Limited is develo...

Neutral

Indo Thai Securities Limited to Report First Half, 2023 Results on Nov 10, 2022

2022-11-02 12:34:00

Indo Thai Securities Limited announced that they will report first half, 2023 results on Nov 10, 2022

Neutral

Indo Thai Securities Limited, Board Meeting, Nov 10, 2022

2022-11-02 12:34:00

Indo Thai Securities Limited, Board Meeting, Nov 10, 2022, at 16:00 Indian Standard Time. Agenda: To consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the second quarter and half year ended on 30 September 2022; and to discuss any other incidental & ancillary matters.

Positive

Indo Thai Securities Limited, 1.00 (INR), Cash Dividend, Sep-22-2022

2022-09-08 21:22:00

Indo Thai Securities Limited, 1.00 (INR), Cash Dividend, Sep-22-2022

Neutral

Indo Thai Securities Limited - Shareholder/Analyst Call

2022-09-08 14:35:00

AGM

Neutral

Indo Thai Securities Limited, Annual General Meeting, Sep 30, 2022

2022-09-08 14:35:00

Indo Thai Securities Limited, Annual General Meeting, Sep 30, 2022, at 17:00 Indian Standard Time. Agenda: To consider and adopt the Audited Financial Statements (including the Audited Consolidated Financial Statements) of the Company for the financial year ended 31st March, 2022 together with the Reports of the Board of Directors (the Board) and Auditors thereon; to declare a final dividend of INR 1/- per equity share of INR 10/- each (i.e. at the rate of 10% on the face value) for the financial year ended on 31 March, 2022; to appoint a Director in place of Mr. Rajendra Bandi , who retires by rotation and being eligible, seeks re-appointment; and to consider other matters.

Negative

Indo Thai Securities Limited Announces Changes of Company Secretary and Compliance Officer

2022-09-02 13:06:00

Indo Thai Securities Limited approved the resignation of Mr. Sanjay Kushwah from the post of Company Secretary cum Compliance Officer of the Company with effect from 03 September, 2022 (last day of working will be 24 September, 2022) and approved the appointment of Ms. Shruti Sikarwar as the Company Secretary cum Compliance Officer of the Company with effect from 03 September, 2022. Ms. Shruti Sikarwar has over 2 years of experience as Post Qualified Company Secretary in Listed Companies in legal, compliance departments, and regulatory sectors with proficiency in Listing Compliance, SEBI LODR, Company Law, Corporate Governance and Legal Drafting.

Neutral

Indo Thai Securities Ltd. to Report Q1, 2023 Results on Aug 12, 2022

2022-08-06 07:11:00

Indo Thai Securities Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022

Neutral

Indo Thai Securities Ltd., Board Meeting, Aug 12, 2022

2022-08-06 07:11:00

Indo Thai Securities Ltd., Board Meeting, Aug 12, 2022, at 16:00 Indian Standard Time. Agenda: To consider the standalone and consolidated Unaudited Financial Results of the Company for the first quarter ended on 30 June 2022; and to consider the Other incidental & ancillary matters.

Positive

Indo Thai Securities Ltd. Recommends A Final Dividend for the Financial Year Ended on March 31, 2022

2022-05-18 12:37:00

Indo Thai Securities Ltd. at its board meeting held on May 18, 2022 considered and recommended, subject to the approval of Shareholders, a dividend, for the financial year ended on March 31, 2022, @ 10% (i. e. INR 1 per Equity Share) on the face value of INR 10 per Equity Share.

Neutral

Indo Thai Securities Ltd., Board Meeting, May 18, 2022

2022-05-10 12:41:00

Indo Thai Securities Ltd., Board Meeting, May 18, 2022, at 16:30 Indian Standard Time. Agenda: To consider and approve the Standalone and Consolidated Audited Financial Results of the Company for the fourth quarter and year ended on 31 March, 2022; to consider and recommend dividend,if any, for the financial year ending on 31 March, 2022 on equity shares of the Company; to transact other incidental and ancillary matters.

Neutral

Indo Thai Securities Ltd. to Report Q4, 2022 Results on May 18, 2022

2022-05-10 12:41:00

Indo Thai Securities Ltd. announced that they will report Q4, 2022 results at 4:30 PM, Indian Standard Time on May 18, 2022

Neutral

Indo Thai Securities Limited to Report Q3, 2022 Results on Feb 11, 2022

2022-02-03 07:07:00

Indo Thai Securities Limited announced that they will report Q3, 2022 results on Feb 11, 2022

Neutral

Indo Thai Securities Limited, Board Meeting, Feb 11, 2022

2022-02-03 07:07:00

Indo Thai Securities Limited, Board Meeting, Feb 11, 2022, at 10:30 Indian Standard Time. Agenda: To consider and approve Standalone and Consolidated Unaudited Financial Results of the Company for the 3rd quarter ended on 31st December, 2021; and Other incidental & ancillary matters.

Positive

Indo Thai Securities Limited Incorporates Subsidiary in the Name of Femto Green Hydrogen Limited

2022-01-03 12:41:00

Indo Thai Securities Limited has incorporated a subsidiary in the name of Femto Green Hydrogen Limited. Femto Green Hydrogen Limited is developing a kind of revolutionary de-carbonization technique aiming to aid eradication and reduction of Global warming caused due to various means of surface transport. This pioneering technique is based on Femto particles (Millionth part of Nano). Mission of the Company’s to combat emission of hazardous green house gases from various sources of fossil fuels. The said technology does not require physical intervention or alteration of any process. It does not involve changes in mechanism’s either. Both these remarkable features make it very niche and unique.

Fundamental Summary

Indo Thai's financial results from Q1 demonstrated decent performance, but will likely only help Indo Thai remain on par with its peers. This typically translates into the stock performing on par with market performance for the upcoming quarter. Therefore, they earned a total score of 62 out of 100 and a HOLD recommendation.

Indo Thai reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported revenue was INR 101.32 million compared to INR 64.22 million a year ago. Net income was INR 69.03 million compared to INR 35.86 million a year ago. Basic earnings per share from continuing operations was INR 6.94 compared to INR 3.58 a year ago. Diluted earnings per share from continuing operations was INR 6.94 compared to INR 3.58 a year ago.For the six months, revenue was INR 57.99 million compared to INR 151.25 million a year ago. Net income was INR 7.74 million compared to INR 101.82 million a year ago. Basic earnings per share from continuing operations was INR 0.79 compared to INR 10.18 a year ago. Diluted earnings per share from continuing operations was INR 0.79 compared to INR 10.18 a year ago.

Sector Overview

Indo Thai is included in the Capital Markets according to GICS (global industry classification standard). The Capital Markets industry is part of the Financials sector. It includes companies that engage in Diversified Capital Markets, Investment Banking & Brokerage, Asset Management & Custody Banks. Indo Thai's industry and sector affiliation are expected to positively boost their relative likelihood to overperform the market looking forward, as they should benefit significantly from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Price to Book 6.1 13.4% 53
Equity 642.6M -1.9% 94
Total Revenues 189.0M -16.4% 96
Parameter Value Change Score
Return on Equity 16.2 -8.1% 45
* All values are TTM

The below chart reflects Indo Thai's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Indo Thai's peer average final assessment score stands on 69, Indo Thai's score is 62.

  •  533676
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Nalwa Sons Investments Limited 12.3B 56 77 67
Hold
65
65 0 1
Monarch Networth Capital Limited 12.0B 52 71 68
Underperform
55
55 1 1
Dolat Algotech Limited 11.9B 82 45 76
Hold
71
71 2 1
UGRO Capital Limited 11.4B 82 70 68
Hold
78
78 3 1
Geojit Financial Services Limited 11.3B 74 83 65
Buy
79
79 4 1
PNB Gilts Ltd. 11.3B 68 82 55
Hold
68
68 5 1
BF Investment Limited 10.9B 64 64 66
Hold
63
63 6 1
Centrum Capital Limited 10.7B 85 64 88
Buy
81
81 7 1
5paisa Capital Limited 9.6B 85 58 81
Hold
76
76 8 1
Dhunseri Ventures Limited 9.1B 91 76 58
Buy
85
85 9 1
Kalyani Investment Company Limited 8.2B 75 71 85
Hold
77
77 10 1
Arihant Capital Markets Limited 7.0B 87 80 66
Buy
86
86 11 1
Summit Securities Limited 6.9B 44 62 87
Underperform
51
51 12 1
Nahar Capital and Financial Services Limited 5.6B 70 54 67
Hold
63
63 13 1
Jindal Poly Investment and Finance Company Limited 5.3B 60 44 81
Underperform
55
55 14 1
The Investment Trust of India Limited 5.0B 55 84 65
Hold
66
66 15 1
Mahanivesh (India) Limited 4.5B 58 40 71
Underperform
46
46 16 1
Dhunseri Investments Limited 4.5B 46 72 76
Underperform
54
54 17 1
Kiran Vyapar Limited 4.0B 82 79 58
Buy
80
80 18 1
Swiss Military Consumer Goods Limited 3.7B 42 64 78
Underperform
50
50 19 1
Aditya Birla Money Limited 3.5B 88 81 75
Strong Buy
88
88 20 1
Jindal Photo Limited 3.5B 77 57 75
Hold
73
73 21 1
SIL Investments Limited 3.3B 64 55 81
Hold
61
61 22 1
Prime Securities Limited 3.2B 58 76 53
Underperform
58
58 23 1
Industrial & Prudential Investment Company Limited 3.2B 89 68 87
Buy
85
85 24 1
Jaykay Enterprises Limited 3.0B 58 58 76
Hold
61
61 25 1
Systematix Corporate Services Limited 3.0B 77 93 75
Buy
86
86 26 1
Master Trust Limited 2.7B 78 64 50
Hold
70
70 27 1
STEL Holdings Limited 2.6B 80 55 45
Hold
67
67 28 1
IL&FS Investment Managers Limited 2.4B 73 57 79
Hold
69
69 29 1
ABans Enterprises Limited 2.4B 52 78 76
Hold
62
62 30 1
Quest Capital Markets Limited 2.1B 96 48 74
Hold
78
78 31 1
Almondz Global Securities Limited 2.0B 87 50 68
Hold
73
73 32 1
Industrial Investment Trust Limited 2.0B 74 62 71
Hold
70
70 33 1
Shardul Securities Limited 1.9B 59 61 81
Underperform
60
60 34 1
Emkay Global Financial Services Limited 1.8B 82 90 70
Strong Buy
88
88 35 1
Avonmore Capital & Management Services Limited 1.7B 69 79 70
Hold
73
73 36 1
Bombay Oxygen Investments Limited 1.7B 84 57 94
Hold
77
77 37 1
RSD Finance Limited 1.3B 78 49 54
Hold
65
65 38 1
Indbank Merchant Banking Services Limited 1.1B 54 73 53
Hold
62
62 39 1
LKP Finance Limited 1.1B 89 49 74
Hold
73
73 40 1
Welspun Investments and Commercials Limited 1.1B 83 60 50
Hold
72
72 41 1
LKP Securities Limited 1.1B 85 89 84
Strong Buy
92
92 42 1
Greencrest Financial Services Limited 994.2M 61 63 67
Hold
61
61 43 1
McDowell Holdings Limited 969.0M 73 57 51
Hold
63
63 44 1
DB (International) Stock Brokers Limited 899.5M 84 55 67
Hold
68
68 45 1
Shriram Asset Management Company Limited 881.7M 62 71 84
Hold
69
69 46 1
Global Capital Markets Limited 697.0M 55 50 80
Underperform
52
52 47 1
NCL Research & Financial Services Limited 556.6M 66 85 92
Strong Buy
87
87 48 1
Intellivate Capital Ventures Limited 500.4M 73 70 79
Buy
80
80 49 1
GCM Securities Limited 476.8M 48 85 76
Hold
65
65 50 1
Pioneer Investcorp Limited 466.7M 73 65 64
Hold
72
72 51 1
Wallfort Financial Services Ltd. 457.2M 71 46 63
Hold
61
61 52 1
Yamini Investments Company Limited 441.6M 46 54 59
Underperform
45
45 53 1
HB Stockholdings Limited 420.4M 75 66 67
Hold
71
71 54 1
Pro Fin Capital Services Ltd. 398.5M 81 43 63
Hold
62
62 55 1
HB Portfolio Limited 378.9M 64 47 88
Underperform
60
60 56 1
Cni Research Limited 311.1M 97 59 60
Hold
77
77 57 1
Odyssey Corporation Limited 291.9M 79 76 88
Buy
86
86 58 1
Monotype India Limited 225.0M 62 64 49
Underperform
52
52 59 1
Stampede Capital Limited 209.0M 37 69 82
Underperform
53
53 60 1
BFL Asset Finvest Limited 207.6M 70 58 66
Hold
63
63 61 1
Onelife Capital Advisors Limited 181.7M 78 67 51
Hold
65
65 62 1
AF Enterprises Limited 171.1M 72 82 63
Hold
75
75 63 1
Esaar (India) Limited 148.2M 69 62 69
Hold
71
71 64 1
Cubical Financial Services Limited 117.3M 60 57 99
Hold
71
71 65 1
Goenka Business & Finance Limited 109.2M 62 89 50
Hold
66
66 66 1
Alka Securities Limited 85.4M 91 86 61
Strong Buy
90
90 67 1
Gemstone Investments Limited 75.5M 82 96 85
Strong Buy
98
98 68 1
Confidence Finance and Trading Limited 73.9M 68 68 76
Hold
76
76 69 1
Essar Securities Limited 72.9M 79 50 88
Hold
74
74 70 1
Jackson Investments Limited 55.2M 43 72 77
Underperform
58
58 71 1
Mathew Easow Research Securities Limited 38.5M 59 55 60
Underperform
51
51 72 1
Pilani Investment and Industries Corporation Limited 21.2B 59 66 71
Underperform
59
59 73 1
VLS Finance Limited 5.2B 79 70 64
Hold
75
75 74 1
Consolidated Finvest & Holdings Limited 4.4B 69 55 59
Hold
63
63 75 1
N.B.I. Industrial Finance Company Limited 4.2B 50 80 68
Underperform
59
59 76 1
Wealth First Portfolio Managers Limited 3.1B 85 50 66
Hold
72
72 77 1
Inventure Growth & Securities Limited 2.4B 87 49 91
Hold
76
76 78 1
BLB Limited 1.1B 90 78 67
Strong Buy
87
87 79 1
Steel City Securities Limited 910.2M 66 60 68
Hold
64
64 80 1

Macro Environment

Neutral
60

Typically, the stock market in India will react to recent economic events, as well as be influenced by the sentiment in other major economies around the world, such as the United States, European Union, and China. Our assessment is that these two events may influence global market sentiment. On the negative side we have the tensions between taiwan and china, and on the positive side we have the end of COVID-19 pandemic.

Positive end of COVID-19 pandemic

The World Health Organization issued six policy briefs outlining essential steps governments could take to stop the pandemic. The briefings, which are based on evidence and experience from the previous 32 months, provide guidance on how to save lives, protect health systems, and minimize social and economic disruption.

Negative tensions between taiwan and china

The tensions between Taiwan and China have spiked following Nancy Pelosi's visit to Taipei. China staged war games near Taiwan to express its anger at what it saw as stepped-up U.S. support for the island Beijing views as sovereign Chinese territory. Because Taiwan produces the majority of the world's semiconductors, which are used in every electronic device today, a war between China and Taiwan might be catastrophic for the global economy.

Besides the events we mentioned, there are also specific events related to the Diversified Financials industry of which Indo Thai Securities Limited is a part. As a result, we believe that the rising interest rate is a positive event that will continue to support the industry in the future, whereas the rising inflation may cloud the sector's shares.

Positive rising interest rate

From a historical point of view, the finance sector functions well when interest rates are rising, mainly due to the increase in loan repayments from lenders. Also, insurers often reinvest policyholder premiums into bond instruments, allowing them to profit when Treasury yields increase.

Negative rising inflation

The sudden increase in inflation is generally regarded as the most painful since it takes companies several quarters to pass on higher input costs to consumers. Historically, companies traded in the Diversified Financials industry have been hit by high inflation times due to increased operating expenses and decreased revenues.

In considering the current macro environment and the risks that might affect Indo Thai Securities Limited stock, we came to the conclusion that recent events aren't likely to affect the company's performance in the short term, and thus rated Indo Thai Securities Limited macro environment with the score of 60.

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Indo Thai's stock is now priced above its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the near, medium, and long-term. In particular, many institutional investors keep close watch of the 200-day moving average. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Indo Thai's stock doesn't strongly signal being overbought or oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 73.

Bullish 73
Close Price 315.15
52W Low 118.55
52W High 472.25
5D MA 298.94
50D MA 206.58
200D MA 246.33
MACD 29.44
RSI 38.2
STOCH 100.0

Balance Sheet Analysis

All in all, looking at the balance sheet, Indo Thai's financial health appears good. Indo Thai's balance sheet neither stood out as being particularly strong or weak relative to its peers. Indo Thai produced great equity metrics for this filing, demonstrating management's skill in increasing shareholder value. Indo Thai's equity was reported as 642.6M, which represents a -1.9% change from the last report. Companies in the same sector and market capitalization will usually be affected by up to 2.0 percent by this parameter. These equity changes appear exceptionally balanced and impressive objectively compared to their peers. The company's equity movement component, therefore, received a grade of 94. Also, Indo Thai's management was effective in improving its cash and cash equivalents metrics, which now sit at 500.8M. This represents nan% change from the last reporting period. This performance is significantly more impressive than its peers and competitors. It suggests that their stock price has room to grow to reflect its actual intrinsic value. The company's cash and cash equivalents movement, therefore, received a grade of 85. That said, one metric, Book Value Factors, stood out as particularly concerning. Indo Thai's price to book ratio (P/B) was reported as 6.1 and represents 13.4% change from the previous report. This characteristic can affect companies in the same industry and market capitalization by up to 14.9%. Their book value factor metrics are even more concerning when compared to their peers. Consequently, their book value factors movement received a grade of 53. Therefore, their balance sheet earned a grade of 71.

Parameter Value Change Score
Price to Book 6.1 13.4% 53
Equity 642.6M -1.9% 94
* All values are TTM

The below chart describes Indo Thai's performance as reflected on its balance sheet with respect to its peers. While Indo Thai received a balance sheet score of 71, the average of its peers stands on 73.

  •  533676
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Nalwa Sons Investments Limited 12.3B 65.0 80.0 71.0 66.0 46.0 56 0 1
Monarch Networth Capital Limited 12.0B 66.0 69.0 48.0 63.0 47.0 52 1 1
Dolat Algotech Limited 11.9B 93.0 62.0 72.0 72.0 77.0 82 2 1
UGRO Capital Limited 11.4B 97.0 38.0 38.0 93.0 84.0 82 3 1
Geojit Financial Services Limited 11.3B 81.0 52.0 49.0 58.0 79.0 74 4 1
PNB Gilts Ltd. 11.3B 84.0 54.0 57.0 79.0 66.0 68 5 1
BF Investment Limited 10.9B 44.0 71.0 71.0 65.0 67.0 64 6 1
Centrum Capital Limited 10.7B 84.0 48.0 66.0 82.0 82.0 85 7 1
5paisa Capital Limited 9.6B 88.0 44.0 40.0 91.0 88.0 85 8 1
Dhunseri Ventures Limited 9.1B 88.0 51.0 65.0 62.0 91.0 91 9 1
Kalyani Investment Company Limited 8.2B 41.0 40.0 70.0 64.0 86.0 75 10 1
Arihant Capital Markets Limited 7.0B 78.0 54.0 66.0 57.0 88.0 87 11 1
Summit Securities Limited 6.9B 81.0 40.0 59.0 47.0 42.0 44 12 1
Nahar Capital and Financial Services Limited 5.6B 76.0 65.0 83.0 40.0 71.0 70 13 1
Jindal Poly Investment and Finance Company Limited 5.3B 81.0 51.0 69.0 54.0 62.0 60 14 1
The Investment Trust of India Limited 5.0B 56.0 71.0 41.0 62.0 60.0 55 15 1
Mahanivesh (India) Limited 4.5B 74.0 76.0 71.0 58.0 51.0 58 16 1
Dhunseri Investments Limited 4.5B 44.0 53.0 61.0 72.0 45.0 46 17 1
Kiran Vyapar Limited 4.0B 57.0 83.0 87.0 47.0 88.0 82 18 1
Swiss Military Consumer Goods Limited 3.7B 46.0 53.0 47.0 63.0 43.0 42 19 1
Aditya Birla Money Limited 3.5B 88.0 49.0 46.0 90.0 89.0 88 20 1
Jindal Photo Limited 3.5B 51.0 76.0 72.0 51.0 80.0 77 21 1
SIL Investments Limited 3.3B 40.0 85.0 70.0 81.0 61.0 64 22 1
Prime Securities Limited 3.2B 49.0 86.0 57.0 55.0 50.0 58 23 1
Industrial & Prudential Investment Company Limited 3.2B 77.0 58.0 66.0 81.0 87.0 89 24 1
Jaykay Enterprises Limited 3.0B 61.0 47.0 78.0 58.0 53.0 58 25 1
Systematix Corporate Services Limited 3.0B 60.0 88.0 51.0 82.0 88.0 77 26 1
Master Trust Limited 2.7B 58.0 90.0 47.0 76.0 90.0 78 27 1
STEL Holdings Limited 2.6B 53.0 91.0 49.0 74.0 94.0 80 28 1
IL&FS Investment Managers Limited 2.4B 52.0 63.0 69.0 84.0 73.0 73 29 1
ABans Enterprises Limited 2.4B 84.0 39.0 45.0 94.0 50.0 52 30 1
Quest Capital Markets Limited 2.1B 71.0 88.0 76.0 80.0 94.0 96 31 1
Almondz Global Securities Limited 2.0B 77.0 68.0 85.0 78.0 90.0 87 32 1
Industrial Investment Trust Limited 2.0B 69.0 71.0 46.0 56.0 80.0 74 33 1
Shardul Securities Limited 1.9B 50.0 68.0 72.0 62.0 60.0 59 34 1
Emkay Global Financial Services Limited 1.8B 82.0 50.0 48.0 56.0 88.0 82 35 1
Avonmore Capital & Management Services Limited 1.7B 56.0 79.0 55.0 68.0 80.0 69 36 1
Bombay Oxygen Investments Limited 1.7B 56.0 60.0 92.0 82.0 78.0 84 37 1
RSD Finance Limited 1.3B 60.0 76.0 91.0 41.0 84.0 78 38 1
Indbank Merchant Banking Services Limited 1.1B 44.0 81.0 74.0 66.0 49.0 54 39 1
LKP Finance Limited 1.1B 87.0 54.0 66.0 88.0 84.0 89 40 1
Welspun Investments and Commercials Limited 1.1B 37.0 97.0 81.0 39.0 98.0 83 41 1
LKP Securities Limited 1.1B 66.0 59.0 44.0 79.0 91.0 85 42 1
Greencrest Financial Services Limited 994.2M 55.0 81.0 79.0 65.0 51.0 61 43 1
McDowell Holdings Limited 969.0M 71.0 94.0 42.0 38.0 89.0 73 44 1
DB (International) Stock Brokers Limited 899.5M 92.0 49.0 73.0 69.0 80.0 84 45 1
Shriram Asset Management Company Limited 881.7M 51.0 58.0 70.0 61.0 65.0 62 46 1
Global Capital Markets Limited 697.0M 48.0 79.0 71.0 78.0 53.0 55 47 1
NCL Research & Financial Services Limited 556.6M 66.0 51.0 82.0 97.0 66.0 66 48 1
Intellivate Capital Ventures Limited 500.4M 64.0 64.0 93.0 90.0 72.0 73 49 1
GCM Securities Limited 476.8M 65.0 51.0 54.0 60.0 66.0 48 50 1
Pioneer Investcorp Limited 466.7M 48.0 80.0 49.0 67.0 83.0 73 51 1
Wallfort Financial Services Ltd. 457.2M 68.0 60.0 81.0 71.0 69.0 71 52 1
Yamini Investments Company Limited 441.6M 70.0 50.0 54.0 79.0 41.0 46 53 1
HB Stockholdings Limited 420.4M 80.0 63.0 92.0 59.0 65.0 75 54 1
Pro Fin Capital Services Ltd. 398.5M 66.0 79.0 75.0 41.0 89.0 81 55 1
HB Portfolio Limited 378.9M 54.0 63.0 63.0 68.0 66.0 64 56 1
Cni Research Limited 311.1M 71.0 86.0 97.0 42.0 85.0 97 57 1
Odyssey Corporation Limited 291.9M 71.0 53.0 95.0 41.0 99.0 79 58 1
Monotype India Limited 225.0M 71.0 57.0 62.0 86.0 41.0 62 59 1
Stampede Capital Limited 209.0M 40.0 45.0 62.0 95.0 37.0 37 60 1
BFL Asset Finvest Limited 207.6M 85.0 71.0 54.0 59.0 75.0 70 61 1
Onelife Capital Advisors Limited 181.7M 70.0 55.0 89.0 85.0 67.0 78 62 1
AF Enterprises Limited 171.1M 56.0 93.0 41.0 72.0 85.0 72 63 1
Esaar (India) Limited 148.2M 70.0 56.0 95.0 90.0 56.0 69 64 1
Cubical Financial Services Limited 117.3M 67.0 68.0 53.0 42.0 71.0 60 65 1
Goenka Business & Finance Limited 109.2M 79.0 70.0 47.0 61.0 52.0 62 66 1
Alka Securities Limited 85.4M 86.0 93.0 66.0 68.0 90.0 91 67 1
Gemstone Investments Limited 75.5M 72.0 59.0 93.0 95.0 62.0 82 68 1
Confidence Finance and Trading Limited 73.9M 67.0 70.0 43.0 79.0 79.0 68 69 1
Essar Securities Limited 72.9M 68.0 61.0 87.0 87.0 82.0 79 70 1
Jackson Investments Limited 55.2M 63.0 61.0 44.0 42.0 55.0 43 71 1
Mathew Easow Research Securities Limited 38.5M 73.0 54.0 52.0 74.0 44.0 59 72 1
Pilani Investment and Industries Corporation Limited 21.2B 59.0 82.0 83.0 64.0 51.0 59 73 1
VLS Finance Limited 5.2B 79.0 72.0 89.0 71.0 69.0 79 74 1
Consolidated Finvest & Holdings Limited 4.4B 76.0 69.0 75.0 79.0 61.0 69 75 1
N.B.I. Industrial Finance Company Limited 4.2B 99.0 42.0 60.0 57.0 43.0 50 76 1
Wealth First Portfolio Managers Limited 3.1B 79.0 79.0 79.0 48.0 93.0 85 77 1
Inventure Growth & Securities Limited 2.4B 62.0 69.0 94.0 72.0 93.0 87 78 1
BLB Limited 1.1B 83.0 85.0 65.0 58.0 91.0 90 79 1
Steel City Securities Limited 910.2M 67.0 68.0 71.0 66.0 65.0 66 80 1

Income Statement Analysis

Indo Thai's income statement factors had several troubling metrics this period. In this filing, Indo Thai reported a return on equity (ROE) ratio of 16.2, which represents a growth of -8.1%. This metric might have a 15.5 percent impact on companies in the same industry and with the same market capitalization. The company's return factor metrics return on equity and return on assets are even more concerning when compared to their peers. Its return factors (ROA & ROE) components, therefore, received a grade of 45. However, one encouraging metric, Revenue Efficiency, stood out. Indo Thai did an excellent job managing its revenue efficiency this past period. Indo Thai's revenue efficiency is 189.0M according to the metrics in the current filing, which represents a -16.4% change from the previous report. This parameter often affects companies in the same industry and market capitalization by up to 5.6%. Their industry-leading revenue efficiency makes a strong case for upward pressure on its's stock price. Consequently, their revenue efficiency received a grade of 96. Because of these weaknesses, their income statement received an overall score of 59.

Parameter Value Change Score
Total Revenues 189.0M -16.4% 96
Return on Equity 16.2 -8.1% 45
* All values are TTM

The below chart describes Indo Thai's performance as reflected on its income statement with respect to its peers. While Indo Thai received a income statement score of 59 , the average of its peers stands on 65.

  •  533676
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Nalwa Sons Investments Limited 12.3B 79.0 79.0 70.0 77 0 1
Monarch Networth Capital Limited 12.0B 60.0 70.0 74.0 71 1 1
Dolat Algotech Limited 11.9B 49.0 44.0 45.0 45 2 1
UGRO Capital Limited 11.4B 95.0 77.0 50.0 70 3 1
Geojit Financial Services Limited 11.3B 81.0 78.0 84.0 83 4 1
PNB Gilts Ltd. 11.3B 92.0 81.0 77.0 82 5 1
BF Investment Limited 10.9B 54.0 65.0 65.0 64 6 1
Centrum Capital Limited 10.7B 43.0 66.0 69.0 64 7 1
5paisa Capital Limited 9.6B 90.0 59.0 50.0 58 8 1
Dhunseri Ventures Limited 9.1B 89.0 79.0 62.0 76 9 1
Kalyani Investment Company Limited 8.2B 92.0 75.0 51.0 71 10 1
Arihant Capital Markets Limited 7.0B 82.0 76.0 80.0 80 11 1
Summit Securities Limited 6.9B 88.0 63.0 52.0 62 12 1
Nahar Capital and Financial Services Limited 5.6B 94.0 57.0 52.0 54 13 1
Jindal Poly Investment and Finance Company Limited 5.3B 41.0 69.0 45.0 44 14 1
The Investment Trust of India Limited 5.0B 84.0 80.0 85.0 84 15 1
Mahanivesh (India) Limited 4.5B 37.0 43.0 40.0 40 16 1
Dhunseri Investments Limited 4.5B 58.0 73.0 73.0 72 17 1
Kiran Vyapar Limited 4.0B 49.0 79.0 81.0 79 18 1
Swiss Military Consumer Goods Limited 3.7B 43.0 69.0 63.0 64 19 1
Aditya Birla Money Limited 3.5B 82.0 79.0 77.0 81 20 1
Jindal Photo Limited 3.5B 63.0 58.0 51.0 57 21 1
SIL Investments Limited 3.3B 38.0 69.0 43.0 55 22 1
Prime Securities Limited 3.2B 60.0 71.0 84.0 76 23 1
Industrial & Prudential Investment Company Limited 3.2B 47.0 77.0 61.0 68 24 1
Jaykay Enterprises Limited 3.0B 37.0 63.0 66.0 58 25 1
Systematix Corporate Services Limited 3.0B 45.0 76.0 97.0 93 26 1
Master Trust Limited 2.7B 70.0 72.0 60.0 64 27 1
STEL Holdings Limited 2.6B 91.0 61.0 51.0 55 28 1
IL&FS Investment Managers Limited 2.4B 53.0 57.0 55.0 57 29 1
ABans Enterprises Limited 2.4B 94.0 74.0 61.0 78 30 1
Quest Capital Markets Limited 2.1B 54.0 62.0 47.0 48 31 1
Almondz Global Securities Limited 2.0B 84.0 57.0 49.0 50 32 1
Industrial Investment Trust Limited 2.0B 56.0 58.0 67.0 62 33 1
Shardul Securities Limited 1.9B 56.0 63.0 62.0 61 34 1
Emkay Global Financial Services Limited 1.8B 92.0 83.0 91.0 90 35 1
Avonmore Capital & Management Services Limited 1.7B 81.0 75.0 66.0 79 36 1
Bombay Oxygen Investments Limited 1.7B 41.0 70.0 46.0 57 37 1
RSD Finance Limited 1.3B 55.0 56.0 56.0 49 38 1
Indbank Merchant Banking Services Limited 1.1B 94.0 63.0 77.0 73 39 1
LKP Finance Limited 1.1B 43.0 56.0 47.0 49 40 1
Welspun Investments and Commercials Limited 1.1B 67.0 73.0 55.0 60 41 1
LKP Securities Limited 1.1B 74.0 84.0 92.0 89 42 1
Greencrest Financial Services Limited 994.2M 84.0 68.0 66.0 63 43 1
McDowell Holdings Limited 969.0M 98.0 65.0 51.0 57 44 1
DB (International) Stock Brokers Limited 899.5M 47.0 61.0 48.0 55 45 1
Shriram Asset Management Company Limited 881.7M 56.0 69.0 77.0 71 46 1
Global Capital Markets Limited 697.0M 40.0 53.0 50.0 50 47 1
NCL Research & Financial Services Limited 556.6M 69.0 90.0 48.0 85 48 1
Intellivate Capital Ventures Limited 500.4M 87.0 63.0 83.0 70 49 1
GCM Securities Limited 476.8M 97.0 73.0 59.0 85 50 1
Pioneer Investcorp Limited 466.7M 82.0 63.0 57.0 65 51 1
Wallfort Financial Services Ltd. 457.2M 95.0 46.0 43.0 46 52 1
Yamini Investments Company Limited 441.6M 95.0 59.0 38.0 54 53 1
HB Stockholdings Limited 420.4M 82.0 56.0 72.0 66 54 1
Pro Fin Capital Services Ltd. 398.5M 40.0 48.0 43.0 43 55 1
HB Portfolio Limited 378.9M 44.0 46.0 50.0 47 56 1
Cni Research Limited 311.1M 37.0 71.0 72.0 59 57 1
Odyssey Corporation Limited 291.9M 90.0 56.0 96.0 76 58 1
Monotype India Limited 225.0M 39.0 64.0 65.0 64 59 1
Stampede Capital Limited 209.0M 97.0 67.0 71.0 69 60 1
BFL Asset Finvest Limited 207.6M 41.0 37.0 95.0 58 61 1
Onelife Capital Advisors Limited 181.7M 66.0 70.0 71.0 67 62 1
AF Enterprises Limited 171.1M 53.0 74.0 79.0 82 63 1
Esaar (India) Limited 148.2M 57.0 63.0 73.0 62 64 1
Cubical Financial Services Limited 117.3M 38.0 69.0 38.0 57 65 1
Goenka Business & Finance Limited 109.2M 43.0 95.0 41.0 89 66 1
Alka Securities Limited 85.4M 94.0 82.0 92.0 86 67 1
Gemstone Investments Limited 75.5M 85.0 93.0 55.0 96 68 1
Confidence Finance and Trading Limited 73.9M 89.0 60.0 70.0 68 69 1
Essar Securities Limited 72.9M 52.0 50.0 84.0 50 70 1
Jackson Investments Limited 55.2M 97.0 61.0 94.0 72 71 1
Mathew Easow Research Securities Limited 38.5M 47.0 61.0 82.0 55 72 1
Pilani Investment and Industries Corporation Limited 21.2B 51.0 70.0 63.0 66 73 1
VLS Finance Limited 5.2B 57.0 76.0 61.0 70 74 1
Consolidated Finvest & Holdings Limited 4.4B 38.0 65.0 46.0 55 75 1
N.B.I. Industrial Finance Company Limited 4.2B 51.0 76.0 83.0 80 76 1
Wealth First Portfolio Managers Limited 3.1B 69.0 47.0 61.0 50 77 1
Inventure Growth & Securities Limited 2.4B 69.0 58.0 52.0 49 78 1
BLB Limited 1.1B 76.0 75.0 88.0 78 79 1
Steel City Securities Limited 910.2M 49.0 64.0 61.0 60 80 1

Cash Flow Analysis

Indo Thai's most recent cash flow report was not encouraging. Indo Thai's management was ineffective in materially improving CapEx, which now sits at -14.9M and represents a nan% change from the previous report. This performance is all the more uninspiring relative to their peers and competitors. Its CapEx movement, therefore, received a grade of 43. Also, Indo Thai's produced underwhelming cash flow numbers in this filing. Net cash flow was reported as -42.5M, which is a nan% change from the last report. Their net cash flow momentum should be a cause for concern and could bring negative momentum for Indo Thai's stock price going forward. Hence, their net cash flow earned a score of 48. However, one encouraging metric, Free Cash flow, stood out. Indo Thai's published free cash flow numbers were substantial and reflected management's focus on a healthy change strategy. Indo Thai recorded free cash flow of 3.4, which represents a nan% change from the previous report. This parameter could affect companies in the same industry and market capitalization by up to 7.6%. These free cash flow numbers show that management has executed well while generating cash flow and encouraging growth. Consequently, their free cash flow movement received a grade of 92. Its cash flow, therefore, earned a score of 56.

Parameter Value Change Score
* All values are TTM

The below chart describes Indo Thai's performance as reflected on its cash flow with respect to its peers. While Indo Thai received a cash flow score of 56, the average of its peers stands on 66.

  •  533676
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Nalwa Sons Investments Limited 12.3B 72.0 65.0 68.0 64.0 67 0 1
Monarch Networth Capital Limited 12.0B 69.0 64.0 63.0 69.0 68 1 1
Dolat Algotech Limited 11.9B 65.0 72.0 71.0 76.0 76 2 1
UGRO Capital Limited 11.4B 70.0 67.0 67.0 63.0 68 3 1
Geojit Financial Services Limited 11.3B 76.0 54.0 56.0 65.0 65 4 1
PNB Gilts Ltd. 11.3B 69.0 59.0 68.0 50.0 55 5 1
BF Investment Limited 10.9B 70.0 63.0 68.0 65.0 66 6 1
Centrum Capital Limited 10.7B 67.0 67.0 67.0 90.0 88 7 1
5paisa Capital Limited 9.6B 66.0 67.0 67.0 82.0 81 8 1
Dhunseri Ventures Limited 9.1B 69.0 67.0 94.0 46.0 58 9 1
Kalyani Investment Company Limited 8.2B 82.0 53.0 69.0 93.0 85 10 1
Arihant Capital Markets Limited 7.0B 67.0 67.0 47.0 65.0 66 11 1
Summit Securities Limited 6.9B 85.0 51.0 96.0 71.0 87 12 1
Nahar Capital and Financial Services Limited 5.6B 63.0 84.0 95.0 46.0 67 13 1
Jindal Poly Investment and Finance Company Limited 5.3B 81.0 66.0 98.0 52.0 81 14 1
The Investment Trust of India Limited 5.0B 64.0 71.0 69.0 62.0 65 15 1
Mahanivesh (India) Limited 4.5B 73.0 56.0 68.0 74.0 71 16 1
Dhunseri Investments Limited 4.5B 74.0 66.0 68.0 76.0 76 17 1
Kiran Vyapar Limited 4.0B 61.0 71.0 40.0 82.0 58 18 1
Swiss Military Consumer Goods Limited 3.7B 73.0 63.0 57.0 77.0 78 19 1
Aditya Birla Money Limited 3.5B 53.0 85.0 81.0 69.0 75 20 1
Jindal Photo Limited 3.5B 63.0 68.0 59.0 83.0 75 21 1
SIL Investments Limited 3.3B 79.0 54.0 41.0 95.0 81 22 1
Prime Securities Limited 3.2B 72.0 64.0 70.0 48.0 53 23 1
Industrial & Prudential Investment Company Limited 3.2B 59.0 77.0 67.0 88.0 87 24 1
Jaykay Enterprises Limited 3.0B 74.0 55.0 95.0 87.0 76 25 1
Systematix Corporate Services Limited 3.0B 83.0 46.0 65.0 68.0 75 26 1
Master Trust Limited 2.7B 71.0 66.0 46.0 50.0 50 27 1
STEL Holdings Limited 2.6B 54.0 84.0 68.0 40.0 45 28 1
IL&FS Investment Managers Limited 2.4B 58.0 74.0 85.0 85.0 79 29 1
ABans Enterprises Limited 2.4B 45.0 89.0 91.0 87.0 76 30 1
Quest Capital Markets Limited 2.1B 65.0 72.0 63.0 78.0 74 31 1
Almondz Global Securities Limited 2.0B 78.0 38.0 52.0 74.0 68 32 1
Industrial Investment Trust Limited 2.0B 67.0 72.0 59.0 71.0 71 33 1
Shardul Securities Limited 1.9B 68.0 65.0 76.0 84.0 81 34 1
Emkay Global Financial Services Limited 1.8B 61.0 72.0 91.0 65.0 70 35 1
Avonmore Capital & Management Services Limited 1.7B 66.0 71.0 65.0 66.0 70 36 1
Bombay Oxygen Investments Limited 1.7B 52.0 82.0 90.0 94.0 94 37 1
RSD Finance Limited 1.3B 51.0 66.0 68.0 61.0 54 38 1
Indbank Merchant Banking Services Limited 1.1B 75.0 61.0 53.0 52.0 53 39 1
LKP Finance Limited 1.1B 63.0 72.0 67.0 72.0 74 40 1
Welspun Investments and Commercials Limited 1.1B 63.0 80.0 68.0 38.0 50 41 1
LKP Securities Limited 1.1B 62.0 78.0 67.0 82.0 84 42 1
Greencrest Financial Services Limited 994.2M 68.0 68.0 69.0 67.0 67 43 1
McDowell Holdings Limited 969.0M 86.0 44.0 66.0 37.0 51 44 1
DB (International) Stock Brokers Limited 899.5M 60.0 81.0 68.0 65.0 67 45 1
Shriram Asset Management Company Limited 881.7M 66.0 67.0 81.0 84.0 84 46 1
Global Capital Markets Limited 697.0M 71.0 60.0 60.0 89.0 80 47 1
NCL Research & Financial Services Limited 556.6M 71.0 69.0 66.0 90.0 92 48 1
Intellivate Capital Ventures Limited 500.4M 66.0 71.0 62.0 83.0 79 49 1
GCM Securities Limited 476.8M 69.0 70.0 60.0 79.0 76 50 1
Pioneer Investcorp Limited 466.7M 80.0 56.0 71.0 62.0 64 51 1
Wallfort Financial Services Ltd. 457.2M 66.0 71.0 63.0 65.0 63 52 1
Yamini Investments Company Limited 441.6M 66.0 71.0 63.0 58.0 59 53 1
HB Stockholdings Limited 420.4M 70.0 66.0 59.0 60.0 67 54 1
Pro Fin Capital Services Ltd. 398.5M 70.0 71.0 66.0 51.0 63 55 1
HB Portfolio Limited 378.9M 73.0 63.0 56.0 91.0 88 56 1
Cni Research Limited 311.1M 69.0 69.0 64.0 62.0 60 57 1
Odyssey Corporation Limited 291.9M 70.0 69.0 69.0 98.0 88 58 1
Monotype India Limited 225.0M 67.0 69.0 65.0 46.0 49 59 1
Stampede Capital Limited 209.0M 66.0 71.0 63.0 97.0 82 60 1
BFL Asset Finvest Limited 207.6M 61.0 71.0 65.0 64.0 66 61 1
Onelife Capital Advisors Limited 181.7M 69.0 69.0 64.0 51.0 51 62 1
AF Enterprises Limited 171.1M 66.0 71.0 65.0 51.0 63 63 1
Esaar (India) Limited 148.2M 69.0 71.0 66.0 68.0 69 64 1
Cubical Financial Services Limited 117.3M 71.0 69.0 66.0 98.0 99 65 1
Goenka Business & Finance Limited 109.2M 69.0 70.0 60.0 51.0 50 66 1
Alka Securities Limited 85.4M 83.0 54.0 86.0 42.0 61 67 1
Gemstone Investments Limited 75.5M 70.0 69.0 70.0 85.0 85 68 1
Confidence Finance and Trading Limited 73.9M 69.0 71.0 66.0 76.0 76 69 1
Essar Securities Limited 72.9M 71.0 69.0 66.0 86.0 88 70 1
Jackson Investments Limited 55.2M 66.0 71.0 62.0 81.0 77 71 1
Mathew Easow Research Securities Limited 38.5M 69.0 69.0 64.0 63.0 60 72 1
Pilani Investment and Industries Corporation Limited 21.2B 66.0 71.0 66.0 67.0 71 73 1
VLS Finance Limited 5.2B 68.0 69.0 60.0 66.0 64 74 1
Consolidated Finvest & Holdings Limited 4.4B 48.0 89.0 77.0 42.0 59 75 1
N.B.I. Industrial Finance Company Limited 4.2B 78.0 42.0 68.0 59.0 68 76 1
Wealth First Portfolio Managers Limited 3.1B 60.0 81.0 68.0 72.0 66 77 1
Inventure Growth & Securities Limited 2.4B 85.0 46.0 93.0 73.0 91 78 1
BLB Limited 1.1B 85.0 45.0 84.0 66.0 67 79 1
Steel City Securities Limited 910.2M 59.0 72.0 62.0 73.0 68 80 1

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