Highest Book Value Per Share – Top 10 Companies

The book value per share is defined as a financial measure that represents a per share assessment of the minimum value of a company's equity. This value is determined by relating the original value of a firm's common stock adjusted for any outflow (dividends and stock buybacks) and inflow (retained earnings) modifiers to the amount of shares outstanding. The formula for calculating book value per share is total shareholder’s equity/number of shares. As a practice of ours we have used a methodology. We have considered companies with equity capital of more than Rs 50 crore and net worth of more than Rs 100 crore. After this we came up with the list of the top 10 companies mentioned in the table below in descending order. All the figures are based on FY12 consolidated numbers.

Grasim Industries:  Grasim Industries was incorporated in the year 1947, just after India gained its independence. It originally started off as a textile manufacturer. The company has since then diversified into several fields which include Viscose staple fibre, cements and chemicals. The Aditya Birla Group is among the top 10 cement producers globally. The Grasim and Graveira range of suitings are well known among the Indian population. The company has the highest book value per share which stood at Rs 1856.58. The net worth of the company as of FY12 stands at Rs 17026 crore. On an YTD basis the scrip has garnered a return of 31.03%.

Reliance Infrastructure:  Reliance Infrastructure is promoted by the Reliance ADAG group. It is India’s one of the leading utility companies having presence in across the value chain of power business i.e. generation, transmission, distribution, EPC and trading. It is the largest infrastructure company by developing projects in all high growth areas in infrastructure sector i.e. roads, highways, metro rails, airports and speciality real estate. The company has book value of Rs 917.56 per share. The net worth stands at Rs 24134.66 crore. On an YTD basis the company has given a return of 36.19%.

Oil India:Oil India engages in the exploration, development, and production of crude oil and natural gas in India and internationally. The company has exploration and production projects primarily in India, Libya, Gabon, Iran, Nigeria, and Sudan. It holds 156890 square kilometers of acreage covering 78 blocks. It owns and operates 13 drilling rigs and 14 work-over rigs. In its portfolio it also owns and operates 1,432 kilometers of cross-country crude oil pipelines and owns 10 crude oil pumping stations and 17 repeater stations in the states of Assam, West Bengal, and Bihar states. The company has a net worth of Rs 17739 crore and the book value per share stands at Rs 737.76. On an YTD basis the stock has given a negative return of 34.61%.

Bharat Electronics:Bharat Electronics is engaged in manufacturing and supply of electronic products primarily to defense services in India. It serves customers primarily in army, navy, air force, coast guard, defense PSUs, paramilitary, ministry of home affairs, ministry of rural development, and others. It also exports its products to various countries. The company was founded in 1954 and is based in Bengaluru, India. On an YTD basis the company have given a negative return of 11.58%. The net worth of the company stands at Rs 5901 crore at the end of FY12 on a consolidated basis. The book value per share of the company stands at Rs 737.74.

Aditya Birla Nuvo:Aditya Birla Nuvo is a USD 4.5 billion conglomerate by revenue size. It is part of Aditya Birla Group. The company has presence across segments like Financial Services, Telecom, Fashion & Lifestyle, IT-ITeS and Manufacturing businesses. It provides viscose filament yarn products under Ray One name; and garments under Louis Philippe, Van Heusen, Allen Solly, Esprit, Peter England, and The Collective names, as well as engages in apparel retail through Planet Fashion stores. The book value per share at the end of FY12 stands at Rs 662.13 and the net worth stood at Rs 7516.50 crore. The stock has performed better in the current calendar year garnering a return of 31.89%.

JSW Steel:Incorporated in the year 1994 the company engages in the manufacture, trade, and sale of iron and steel products in India and internationally. The company offers steel products, including hot rolled, cold rolled, galvanized, galvalume, pre-painted galvanized, and pre-painted galvalume products, as well as TMT rebars, wire rods and special steel bars, and rounds and blooms. It also has interests in coal and iron ore mining assets in Chile, the United States, and Mozambique, as well as engages in generating power. The company was formerly known as Jindal Vijayanagar Steel and changed its name to JSW Steel in June 2005. The book value per share at the end of FY12 stands at Rs 579.64 and the net worth stood at Rs 16470 crore. The stock has performed better in the current calendar year garnering a return of 30.83%.

Reliance Industries:Reliance Industries, engages in exploration, development, and production of crude oil and natural gas in India and internationally. The company also offers refining products, including liquefied petroleum gas (LPG), propylene, kerosene oil, diesel, sulphur, and petroleum coke. The company offers textile products. In addition, the company operates retail outlets comprising reliance retail, food and grocery specialty stores, hypermarkets, and wholesale stores. Further, it engages in the retail of transportation fuels, convenience shopping, auto LPG, petroleum, and lubricant products, as well as offers fleet management services, highway hospitality services, and vehicle care services. The company has book value of Rs 556.24 per share. The net worth stands at Rs 165705 crore. On an YTD basis the performance of the scrip remained almost flat yielding a return of 9.10%.

Infosys:Infosys was started in 1981 by seven people with USD 250. Today, they are considered as a global leader in consulting, technology and outsourcing with revenues of USD 7.126 billion. Infosys provides business consulting, technology, engineering and outsourcing services to clients in over 30 countries. Infosys has a global footprint with 66 offices and 69 development centers in US, India, China, Australia, Japan, Middle East, UK, Germany, France, Switzerland, Netherlands, Poland, Canada and many other countries. Infosys and its subsidiaries have 153761 employees as on September 30, 2012. The book value per share at the end of FY12 stands at Rs 547.76 and the net worth stood at Rs 31332 crore. The stock has underperformed in the current calendar year garnering a negative return of 16.25%.

Maruti Suzuki India:Maruti Suzuki India manufactures, purchases, and sells motor vehicles and spare parts primarily in India and internationally. It offers 15 brands and approximately 150 variants, primarily including passenger cars, vans, utility vehicles, sedans, SUVs, MUVs, and life utility vehicles. It has brands like Maruti 800 brand, Alto, Alto K10, A-star, Estilo, WagonR, Ritz, Swift, Swift DZire, SX4, to name a few in its portfolio. It operates through a sales network of 1100 outlets 801 cities and 2,958 service points in 1,408 cities in India. The book value per share at the end of FY12 stands at Rs 542.37 and the net worth stood at Rs 15674 crore. The stock has performed well in the current calendar year garnering a return of 59.38%.

Larsen & Toubro:Larsen & Toubro is a technology, engineering, construction and manufacturing company. It is one of the largest companies in India's private sector. It has an international presence, with a global spread of offices. The company's businesses are supported by a wide marketing and distribution network, and have established a reputation for strong customer support. The book value per share at the end of FY12 stands at Rs 531.54 and the net worth stood at Rs 61274 crore. The stock has performed well in the current calendar year garnering a return of 55.04%.