Presentation on IPO of IFAD Autos Ltd.

Presentation on
Initial Public Offering
of
IFAD AUTOS LIMITED
28 January 2015
1
Contents
Introduction & Background
Board & Management
Products & Services
Major Competitors & Market Share
Financial Performance
Behavior Analysis of newly listed shares
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Introduction & Background
IFAD Autos Limited is an importer & seller of Automobiles (Vehicles) in
Bangladesh
The Company was incorporated in February 1988 as Private Limited
company
It converted into Public Limited company in September 2011
There are 25 authorized Distributors of IFAD Autos Limited for selling its
products
Besides, IFAD Autos Ltd. sells its products directly to Corporate
Customers
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Board & Management
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Board of Directors:
Name (% of shareholding)*
Designation
Age
Qualification
Experience
Chairman
64 Years
B.A
42 Years
Taskeen Ahmed (7.34)
Managing Director
34 Years
BBA(IUB)
13 Years
Tanveer Ahmed (7.34)
Director
35 Years
Bachelor of
Architecture, USA
14 Years
Nilufar Ahmed (8.15)
Director
57 Years
MA (DU)
26 Years
Tashfeen Ahmed (6.52)
Director
28 Years
MBA, USA
4 Years
Iftekhar Ahmed Tipu (33.42)
*shareholding percentage has been calculated based on post IPO paid up capital.
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Critical Observation:
The BOD holds 62.77% of the total Post IPO capital
IFAD Autos is absolutely a FAMILY business
The BOD consists of Mr. Tipu, his spouse and three sons.
Only 21,250,000 (22.5%) ordinary shares will be floating for general investors
Out of floating shares, 10% of the said shares are hold by Asset Management
Companies in the name of mutual funds
Total Number of shareholders of IFAD Autos before IPO was 33
Approximately 1.006 Crore ordinary shares will be free from lock-in on 01 Oct 2015
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Top five salaried employees:
Sl.
Name
Designation
Salary/annum
01. Abu Sayeed Ahmed, FCA
Chief Financial Officer
12,00,000
02. Uttiya Bakshi Abir
Director, Administration & Corporate Sales
11,90,700
03. Arif Masud Chowdhury
Assistant Director, Sales
11,24,550
04. Golam Saklaen Miah
Deputy General Manager, Finance
9,89,400
05. Golam Mostafa
General Manager, Recovery
8,04,000
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Products & Services
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Products Line
Importing,
Ashok Leyland’
Marketing &
AC Buses & Deluxe Buses
Body Building
of
Goods & Dump Trucks
Prime Movers
Products are SOLELY sold in Local market
No SINGLE customer provides 10% or more revenue
So business is NOT dependent on any single client rather retail market
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Market Share & Major Competitors
12%
IFAD Autos Ltd.
10%
38%
Nitol Motors Ltd.
Runner Motors Ltd.
40%
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Others
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Financial Performance
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Net Asset Value (NAV) per share with revaluation reserve as on 30 Jun 14
Tk. 44.12
NAV per share without revaluation reserve as on 30 Jun 14 Tk. 27.29
Weighted average EPS for the last five years (Jun 09-Jun 13) is Tk. 3.83
EPS for the year ended on 30 Jun 14 is Tk. 5.16
Half yearly EPS is yet to be disclosed. Hopefully on first trading day, it will be
disclosed.
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Behavior Analysis of Newly
Listed shares
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Price behavior on opening day
Date
Trading Code
Openp
Closep
Price Change
Dsex Index
Index Change
CNATEX
Offer
Price
10
21-Jan-15
21.1
22
0.90
4,783.21
-73.74
19-Jan-15
NFML
10
44.9
42.5
(2.40)
4,867.08
-50.29
4-Dec-14
HFL
35
60.1
56.1
(4.00)
4,961.85
-30.15
18-Nov-14
KBPPWBIL
10
47
76.6
29.60
4,898.82
-18.61
2-Nov-14
WMSHIPYARD
35
50
62.7
12.70
5,105.22
-68.01
29-Sep-14
SAIFPOWER
30
60.1
71.4
11.30
5,050.35
-21.85
22-Sep-14
RSRMSTEEL
40
70
77.3
7.30
4,924.53
11.29
*Green fill cell indicates upward trend of price whereas light red fill cell indicates downward trend of price.
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Price behavior in 5 trading days since trading day
DATE
27-Jan-15
26-Jan-15
25-Jan-15
22-Jan-15
21-Jan-15
Company Name
CNATEX
CNATEX
CNATEX
CNATEX
CNATEX
OPENP
24.30
26.50
24.60
22.10
21.10
CLOSEP
24.00
24.70
26.10
26.20
22.00
Price Change
(0.70)
(1.40)
(0.10)
4.20
DSEX Index
4,757.10
4,708.33
4,716.76
4,797.96
4,783.21
Index Change
48.77
-8.43
-81.19
14.74
-73.74
25-Jan-15
22-Jan-15
21-Jan-15
20-Jan-15
19-Jan-15
NFML
NFML
NFML
NFML
NFML
37.00
34.00
37.30
42.50
44.90
34.50
37.00
34.40
38.50
42.50
(2.50)
2.60
(4.10)
(4.00)
4,716.76
4,797.96
4,783.21
4,856.95
4,867.08
-81.19
14.74
-73.74
-10.14
-50.29
10-Dec-14
9-Dec-14
8-Dec-14
7-Dec-14
4-Dec-14
HFL
HFL
HFL
HFL
HFL
51.00
53.90
56.80
55.00
60.10
46.60
50.40
53.70
55.90
56.10
(3.80)
(3.30)
(2.20)
(0.20)
4,943.73
4,944.03
4,930.82
4,930.37
4,961.85
-0.31
13.21
0.45
-31.48
-30.15
24-Nov-14
23-Nov-14
20-Nov-14
19-Nov-14
18-Nov-14
KBPPWBIL
KBPPWBIL
KBPPWBIL
KBPPWBIL
KBPPWBIL
51.50
59.00
56.20
78.10
47.00
53.50
52.80
58.80
63.80
76.60
0.70
(6.00)
(5.00)
(12.80)
4,768.90
4,838.11
4,899.61
4,926.24
4,898.82
-69.21
-61.50
-26.63
27.42
-18.61
*Green fill cell indicates upward trend of price whereas light red fill cell indicates downward trend of price.
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DATE
Company Name
OPENP
CLOSEP
Price Change
DSEX Index
Index Change
9-Nov-14
WMSHIPYARD
83.00
91.30
9.20
4,938.65
-86.45
6-Nov-14
WMSHIPYARD
75.00
82.10
9.40
5,025.10
7.88
5-Nov-14
WMSHIPYARD
66.50
72.70
5.40
5,017.22
-47.92
3-Nov-14
WMSHIPYARD
66.00
67.30
4.60
5,065.14
-40.08
2-Nov-14
WMSHIPYARD
50.00
62.70
5,105.22
-68.01
12-Oct-14
SAIFPOWER
63.50
59.40
(2.10)
5,334.04
96.32
2-Oct-14
SAIFPOWER
56.20
61.50
4.20
5,237.72
84.45
1-Oct-14
SAIFPOWER
64.60
57.30
(7.20)
5,153.27
78.96
30-Sep-14
SAIFPOWER
68.00
64.50
(6.90)
5,074.31
23.96
29-Sep-14
SAIFPOWER
60.10
71.40
5,050.35
-21.85
28-Sep-14
RSRMSTEEL
84.90
78.00
(6.90)
5,072.20
45.27
25-Sep-14
RSRMSTEEL
88.00
84.90
(1.20)
5,026.93
47.20
24-Sep-14
RSRMSTEEL
74.80
86.10
11.30
4,979.72
12.61
23-Sep-14
RSRMSTEEL
77.30
74.80
(2.50)
4,967.11
42.59
22-Sep-14
RSRMSTEEL
70.00
77.30
4,924.53
11.29
*Green fill cell indicates upward trend of price whereas light red fill indicates downward trend of price.
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Price Change of newly listed companies since listing
First Trading Date
Name of Shares
First Day's CLOSEP
CLOSEP on 28 Jan 15
Price Change
21-Jan-15
CNATEX
22.00
25.20
3.20
19-Jan-15
NFML
42.50
32.30
(10.20)
4-Dec-14
HFL
56.10
31.70
(24.40)
18-Nov-14
KBPPWBIL
76.60
28.70
(47.90)
2-Nov-14
WMSHIPYARD
62.70
49.60
(13.10)
29-Sep-14
SAIFPOWER
71.40
68.80
(2.60)
22-Sep-14
RSRMSTEEL
77.30
55.00
(22.30)
*Green fill cell indicates upward trend of price whereas light red fill indicates downward trend of price.
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2015 Prime Finance Capital Management Limited. All rights reserved
Disclaimer:
This Document has been prepared and issued by Prime Finance Capital Management Limited on the basis of the public
information available in the market, internally developed data and other sources believed to be reliable. Whilst all
reasonable care has been taken to ensure that the facts & information stated in the Document are accurate as on the date
mentioned herein. Neither Prime Finance Capital Management Limited nor any of its director, shareholder, and member
of the management or employee represents or warrants expressly or impliedly that the information or data of the sources
used in the Document are genuine, accurate, complete, authentic and correct. Moreover, none of the director or
shareholder, and member of the management or employee in any way is responsible about the genuineness, accuracy,
completeness, authenticity and correctness of the contents of the sources that are publicly available to prepare the
Document. It does not solicit any action based on the materials contained herein and should not be construed as an offer or
solicitation to buy sell or subscribe to any security. If any person takes any action relying on this Document, shall be
responsible solely by himself/herself/themselves for the consequences thereof and any claim or demand for such
consequences shall be rejected by Prime Finance Capital Management Limited or by any court of law.
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Thank You
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