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Top 5 Companies With Negative Net Worth

By Saikat Mitra | 6/28/2013 9:00 PM Friday

A couple of weeks ago, we had looked at the top 5 companies with the highest net worth. Of course, there is a flip side to this too. A company’s net worth runs into negatives if its accumulated losses exceed the shareholders’ equity, if it is debt-ridden to the extent that its liabilities exceed its assets, or when the value of its assets depletes massively. This implies a weak financial position that can be turned around only by consistent profits over the coming years.

The following is a list of 5 companies with the highest negative net worth as of March 31, 2013.

Company NameNet Worth As Of FY13 (Rs/Cr)YTD Return (%)
Kingfisher Airlines -5,635.50 -261.25
Tata Teleservices (Maharashtra) -1,133.98 -90.24
Southern Petrochemicals Industries -1,044.91 -57.89
Jet Airways (India) -539.45 -32.01
LML -478.91 -38.6
Source: Dion Insight

Kingfisher Airlines: It would come as no surprise to see the troubled Kingfisher Airlines (KFA) topping our list of companies with negative net worth. KFA has been reporting losses consistently over the past 9 years. It has a huge debt pile-up of around Rs 8000 crore on its books, which is a matter of serious concern.

As of March 31, 2013, the company had a negative net worth of Rs 5635 crore. In this calendar year, the scrip has depreciated by a humongous 261.25%.

Tata Teleservices (Maharashtra): Tata Teleservices Maharashtra (TTML) spearheads the Tata group's presence in the telecom circles of Maharashtra (including Mumbai) and Goa. The company also has a significant pull in the GSM space through a joint venture with NTT DOCOMO of Japan in November 2008, and offers differentiated products and services in Mumbai, Maharashtra and Goa under the brand name Tata DOCOMO.

At present, the company has a negative net worth of Rs 1133.98 crore and the stock price has depreciated by 90.24% on a YTD basis.

Southern Petrochemicals Industries: Southern Petrochemical Industries Corporation was incorporated in 1969 and is headquartered in Chennai. It engages in the manufacture and sale of fertilisers primarily in India.
The company offers urea, a nitrogenous chemical fertiliser that is used in the processing of cotton and textile mills, as cattle feed and is also a raw material for chemical products, dyes, and pharmaceuticals. It provides tissue culture plants and hybrid seeds. It also operates a semiconductor assembly and test facility, which offers integrated circuits packing solutions.

For FY13, the company’s net worth is in the red at Rs 1044.91 crore. The stock has a negative return of 57.89%.

Jet Airways (India): Jet Airways (India) was founded in 1993 and is based in Mumbai. The company provides
passenger and cargo air transportation services and also leases aircrafts. It operates flights to 76 destinations in India and internationally. As of June 20, 2012, Jet operated a fleet of 103 aircrafts comprising 10 Boeing 777-300 ER aircrafts, 12 Airbus A330-200 aircrafts, 61 next generation Boeing 737-700/800/900 aircrafts, and 20 modern ATR 72-500 turboprop aircrafts.

This is the second company from the aviation sector that has featured in this list, and has a negative net worth of Rs 539 crore. The scrip has fallen by 32.01% on a YTD basis.

LML: LML Ltd. was incorporated in 1972 and is based in Kanpur. It engages in the manufacture and sale of motorised two-wheelers in India and offers mopeds, motorcycles, and scooters. The company also exports its products to regions like the United States, the European Union, Africa, Latin America and Asia.

For FY13, the company’s net worth stands in the red, down by Rs 478 crore. Its stock has yielded a negative return of 38.60%.

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New TDS norms for PF withdrawals from June 1

New TDS norms for PF withdrawals from June 1

There will be no tax deduction for provident fund (PF) withdrawals of up to Rs 50000 from June 1. The government has increased threshold limit of PF withdrawal for deduction of Tax Deducted at Source (TDS) from existing Rs 30000 to Rs 50000. 

Overnight Digest – Stocks to look out for on June 1

Overnight Digest – Stocks to look out for on June 1

The stocks which could witness significant movement on June 1 are Sanofi India Ltd., SBI, ONGC Ltd., Maruti Suzuki India Ltd., Torrent Power/NTPC.

Uflex banking on innovation to boost its margins

Uflex banking on innovation to boost its margins

Uflex Limited- India's largest global flexible packaging solution company  is all set to grow at a steady rate and improve its footprints in global markets by adopting a strategy, which will allow the company to be closer to its customers and hence service them better. 

Investors remain inattentive towards Infibeam's positive nos

Investors remain inattentive towards Infibeam's positive nos

The stock of Infibeam, India’s first ever listed ecommerce company have dropped 3.5 per cent despite of positive results, for the first time. The company has posted net profits after series of net losses since FY2012. Company’s IPO proceeds have amounted to nearly Rs 450 crores while IPO expenses have come in at Rs 33.83 crores.

Grindwell Norton soars 14% on 1:1 bonus issue

Grindwell Norton soars 14% on 1:1 bonus issue

Grindwell Norton, a subsidiary of Compagnie de Saint-Gobain has recommended bonus equity shares in the ratio of 1:1, i.e. one equity share of Rs 5 each for every equity share of Rs 5 each held by the shareholders.

Indices recover from lower ends

Indices recover from lower ends

After starting on a positive note, the Indian markets witnessed some sell-off on the higher side. However indices have recouped these losses on closing buzz. Although they ended negatively, the Sensex bounced back by 100 points and the Nifty by 30 points. On Tuesday’s session, the Sensex closed lower by 57 points at 26667 and the Nifty by 18 points at 8160. The indices traded lower by 0.22 percent each.

Sensex dips after a strong 5 day rally

Sensex dips after a strong 5 day rally

After rallying for 5 days, the bear has been successful in restraining the bull.The RBI bi monthly policy is expected to be declared on June 7 and if RBI does not come up with a prospective rate cut , then the markets are expected to be choppy in the near future.

Bata India sees drop in Q4 numbers

Bata India sees drop in Q4 numbers

Bata, synonymous to Indian footware, has posted its Q4 results wherein the company has seen a drop in its revenues and third consecutive drop in the net profits. Overall FMCG companies have seen weakness due to weak macro growth, muted rural and urban demand and pricing bottlenecks amid competition.

Aurobindo Pharma’s net profit sparkles in Q4FY16

Aurobindo Pharma’s net profit sparkles in Q4FY16

Aurobindo Pharma has declared its Q4FY16 results on May 30. The company’s revenue has increased by 18.49 per cent to Rs 3747 crore in Q4FY16 as compared to same period in previous financial year. 

Vrooming on Indian roads

Vrooming on Indian roads

Indian automobile mobility market grew by 5% in 4QFY16. Heavy commercial vehicles (HCV) by 22.4% while light commercial vehicles (LCV) by 12.9%. On the tractor side, there has been a turnaround, with demand picking on anticipation of monsoon to 9.9%. Passenger cars grew 5-6% in 4Q while 3 wheeler saw a decline of 3.3%.

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Sushant Somani May 31 03:51PM
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Sushant Somani May 31 03:51PM
yes bank
Shashi Sanadya May 31 03:23PM
Buy pnb major short covering to happen as the stock has found its Base.
Subash Palanivelu May 31 03:11PM
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