CARE Ratings looks to strengthen its presence in the SME sector by opening additional 30-40 SME outlets, says company MD and CEO DR Dogra.
The sale of credit rating agency Credit Analysis and Research ( CARE Ratings ) is likely to be revived, as investors such as IDBI Bank , Canara Bank and Franklin Templeton are seeking to exit their stake in the company, CNBC-TV18 reported earlier this month.
DR Dogra, MD and CEO at Care Ratings says he is unaware of any ongoing talks between investors and prospective buyers. However, the company is looking at inorganic growth opportunities to boost growth, he says.
Meanwhile, the ratings agency looks to strengthen its presence in the SME sector by opening additional 30-40 SME outlets, says Dogra.
The company has been growing historically at 30-40 percent. In addition, it has seen operating income growth of over 17 percent in H1FY15, he adds.
Below is the verbatim transcript of the interview:
Q: In the past, you have said that you are unaware of any talks that ongoing between investors as well as possible stake sales but has anything changed since then ? Are you aware of whether investors are seeking an exit?
A: The possible secondary sale transaction between a seller and a prospective buyer is between these two guys and company will not have any idea on this till this is announced to the market. So far, we don't have any such news with us to give you but certainly if you are a shareholder in a company and if you find that opportunity is right for you at this point of time you can make an entry into the company or you can go and sell your stocks. So, that should apply even to our shareholders.
Q: That point is taken but are you aware of any prospective buyers that are currently doing due diligence of the company?
A: Not really.
CARE stock price
On December 22, 2014, at 14:12 hrs Credit Analysis and Research was quoting at Rs 1463.95, down Rs 5.95, or 0.4 percent. The 52-week high of the share was Rs 1588.95 and the 52-week low was Rs 680.00.
The company's trailing 12-month (TTM) EPS was at Rs 51.15 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 28.62. The latest book value of the company is Rs 167.01 per share. At current value, the price-to-book value of the company is 8.77.
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