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10/9/12




www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan
Merger Report of HDFC-CBOP by Atmakuri Rammohan




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10/9/12           Merger Report of HDFC-CBOP by Atmakuri Rammohan




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10/9/12           Merger Report of HDFC-CBOP by Atmakuri Rammohan




                   On the net interest margin front, HDFC Bank has a net interest margin of 4.3% while CBOP has an
                   NIM of 3.6%. The current and savings account (CASA) stands at 50.9% and 24.5% for HDFC Bank

                   and CBOP, respectively.
                   Talking about the NPAs, HDFC Bank has a very low NPA of 0.4% as against 1.69% for CBoP.

                   The capital adequacy for HDFC Bank stands at 13.8% as against 11.5% for CBoP. Analysts say the
                   merger will create a strong banking entity.




                           The earnings of HDFC bank in 2007is rs11414500000

                           The earnings of CBoP in 2007 is 1213800000

                           Number of shares of HDFC bank in 2007 is 319389608

                           Number of shares of CBoP in 2007 is1698989540

                           EPS of HDFC Bank in 2007 is rs 35.74 per share

                           EPS of CBoP in 2007 is rs 0.72 per share

                           The swap ratio for the merger is 1 share of HDFC bank for every 29 shares held by CBoP

                           Exchange Ratio=1 share of HDFC/29 shares of CBoP=0.03448

                           The total number of shares in the merged entity=319389608+(0.03448*1698989540)
                           =377975454 shares

                           EPS12=(11414500000+1213800000)/ 377975454=33.41




                   From the EPS analysis we can say that the target company CBoP gains and the acquiring company HDFC
                   losses. So there may be some synergy loss for the HDFC bank. In pre merger the EPS of CBoP is 0.72. After
                   Merger the EPS raise to 1.15 that is almost 160% for the Pre merger EPS. In pre merger the HDFC EPS is
                   35.74 per share. After merger the EPS for HDFC is falls to 33.41 per share. That’s why the share holders of
                   the HDFC bank do not have the interest for merging of CBoP in HDFC bank. The share holders of CBoP were
                   happier for this merger. Because of this merger proposal the share value of the CBoP has increased on that
                   day and the share price of the HDFC Bank has decreased.




www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan                                                    20/29
10/9/12           Merger Report of HDFC-CBOP by Atmakuri Rammohan




                                                                                  ------------------- in Rs. Cr. -------------------
                                                          Mar '08                 Mar '09                     Mar '10
                                                          12 mths                 12 mths                     12 mths



                   Total Share Capital                    354.43                  425.38                      457.74
                   Equity Share Capital                   354.43                  425.38                      457.74
                   Share Application Money                0                       400.92                      0
                   Preference Share Capital               0                       0                           0
                   Reserves                               11,142.80               14,226.43                   21,064.75
                   Revaluation Reserves                   0                       0                           0
                   Net Worth                              11,497.23               15,052.73                   21,522.49
                   Deposits                               100,768.60              142,811.58                  167,404.44
                   Borrowings                             4,478.86                2,685.84                    12,915.69
                                                          105,247.46              145,497.42                  180,320.13
                   Other Liabilities & Provisions         16,431.91               22,720.62                   20,615.94
                                                          133,176.60              183,270.77                  222,458.56


                   Cash & Balances with RBI                           12,553.18                 13,527.21                15,483.28

                   Balance with Banks, Money at
                   Call                                                2,225.16                  3,979.41                14,459.11
                   Advances                                           63,426.90                 98,883.05              125,830.59
                   Investments                                        49,393.54                 58,817.55                58,607.62
                   Gross Block                                         2,386.99                  3,956.63                 4,707.97
                   Accumulated Depreciation                            1,211.86                  2,249.90                 2,585.16
                   Net Block                                           1,175.13                  1,706.73                 2,122.81




www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan                                                          21/29
10/9/12            Merger Report of HDFC-CBOP by Atmakuri Rammohan




                    Capital Work In Progress                                    0                    0                    0
                    Other Assets                                       4,402.69               6,356.83              5,955.15
    4                                                                133,176.60             183,270.78            222,458.56

    Go BackComment
             Contingent Liabilities                                  582,835.94             396,594.31            466,236.24
    Link
             Bills for collection                                     17,092.85              17,939.62             20,940.13
    Embed    Book Value (Rs)                                             324.38                 344.44               470.19
    Zoom
     22                        of 23
    Readcast
          Like  11 HDFC
                   Particulars                                                          31-Mar-08   31-Mar-09     31-Mar-10
          Tw eet
                    I. INCOME
    0
          Share     Interest earned                                                      1011500    1,633,226      1,617,290
                    Other income                                                          228315      329,060        380,761
                    Total                                                                1239815    1,962,286      1,998,051
                    II. EXPENDITURE
                    Interest expended                                                     488712      891,110        778,630

                    Operating expenses                                                    374562      553,281        576,448
                    Provisions and contingencies [includes provision                      217523      293,402        348,103
                    for income tax and fringe benefit tax of
                    Rs. 382,73 lacs (previous year: Rs. 313,38 lacs)]
                    Total                                                                1080797    1,737,793      1,703,181
                    III. PROFIT
                    Net profit for the year                                               159018      224,494        294,870
                    Profit brought forward                                                193203      257,463        345,557

                    Transfer from investment fluctuation reserve
                    Total                                                                 352221      481,957        640,427
                    IV. APPROPRIATIONS
                    Transfer to Statutory Reserve                                          39755         56,123       73,718
                    Proposed dividend                                                      30127         42,538       54,929
                    Tax (including cess) on dividend                                        5120          7,229        9,123
                    Cess on dividend pertaining to previous year paid
                    during the year                                                            6            59            93

                    Transfer to General Reserve                                            15902         22,449       29,487
                    Transfer to Capital Reserve                                     -                     9,387       19,946
                    Transfer to investment fluctuation reserve                              3850         -1,386         -149
                    Balance carried over to Balance Sheet                                 257461      345,557        453,279
                    Total                                                                 352221      481,957        640,427
                    V. EARNINGS PER EQUITY SHARE
                    (Face value Rs. 10/- per share) 18 Rs. Rs.



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                 p.Basic                                                                46.22        52.85           67.56
                   Diluted                                                              45.59        52.59           66.87




                                                                                Mar ' 08        Mar ' 09     Mar ‘10
                   EPS                                                          44.87           52.77        64.42
                   DPS                                                          8.5             10           12
                   Operating margin (%)                                         30.78           19.87        24.36
                   Gross profit margin (%)                                      28.58           18.05        22.39

                   Net profit margin (%)                                        12.82           11.35        14.76
                   ROCE                                                         5.20            5.96         4.96




                   Post Merger results are satisfactory but merger is took in Long term prospective, Following are
                   few more benefits to HDFC


                             Access CBoP’s branches of CBoP and an increased presence in National Capital Region states
                             170 of to 394 branches lie in the North, concentrated in the southern and northern (NCR,
                             55), Punjab (78), Haryana (28); 150 of its branches are situated in the South, mainly in
                             Kerala (91).
                             Greater access to the North (Punjab and Haryana) as well as the South (particularly Kerala),
                             thereby strengthening its presence in those regions.
                             CBoP’s strong SME relationships will complement HDFC bias towards highly rated
                             corporates thus expanding HDFC’s base.
                             The creation of India’s 7th largest bank, just behind public giants like Bank of Ba roda, Bank
                             of India.
                             Induction of a strong and capable management team with extensive industry experience
                             and proven capabilities.
                             Due to an influx of 394 branches from CBoP, there will be a significant increase in the
                             number of branches for HDFC.




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    Merger Report of HDFC-CBOP by Atmakuri
    Rammohan
    In this report , complete overview of merger between HDFC&CBOP and effects of pre and post merger on
    HDFC
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    kartikdoshi4u

    http://www.scribd.com/rammohan_atm/d/...

    reply03 / 15 / 2012

    patelnayan22

    hiiii sir,,,,, I am a MBA student, si i wants to this report.,, sir if u arrange so i m very much thankfull to u... my emil
    ID mukti_hi@yahoo.com

    reply03 / 02 / 2012

    sandipbhavsar12

    hye sir i m sandip bhavsar, and i want this report for my study purpose so please arrange it in my email id :
    sandipbhavsar214@yahoo.com

    reply02 / 27 / 2012

    jerrynini

    sir m in a urgent need for ur report to submit my project report so plz mail me ur report as soon as possible plz
    sir................... nitin.mittal1325@gmail.com

    reply06 / 12 / 2011




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Merger report of hdfc cbop by atmakuri rammohan

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  • 3. Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 3/29
  • 4. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 4/29
  • 5. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 5/29
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  • 7. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 7/29
  • 8. Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 8/29
  • 9. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 9/29
  • 10. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 10/29
  • 11. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 11/29
  • 12. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 12/29
  • 13. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 13/29
  • 14. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 14/29
  • 15. Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 15/29
  • 16. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 16/29
  • 17. Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 17/29
  • 18. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 18/29
  • 19. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 19/29
  • 20. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan On the net interest margin front, HDFC Bank has a net interest margin of 4.3% while CBOP has an NIM of 3.6%. The current and savings account (CASA) stands at 50.9% and 24.5% for HDFC Bank and CBOP, respectively. Talking about the NPAs, HDFC Bank has a very low NPA of 0.4% as against 1.69% for CBoP. The capital adequacy for HDFC Bank stands at 13.8% as against 11.5% for CBoP. Analysts say the merger will create a strong banking entity. The earnings of HDFC bank in 2007is rs11414500000 The earnings of CBoP in 2007 is 1213800000 Number of shares of HDFC bank in 2007 is 319389608 Number of shares of CBoP in 2007 is1698989540 EPS of HDFC Bank in 2007 is rs 35.74 per share EPS of CBoP in 2007 is rs 0.72 per share The swap ratio for the merger is 1 share of HDFC bank for every 29 shares held by CBoP Exchange Ratio=1 share of HDFC/29 shares of CBoP=0.03448 The total number of shares in the merged entity=319389608+(0.03448*1698989540) =377975454 shares EPS12=(11414500000+1213800000)/ 377975454=33.41 From the EPS analysis we can say that the target company CBoP gains and the acquiring company HDFC losses. So there may be some synergy loss for the HDFC bank. In pre merger the EPS of CBoP is 0.72. After Merger the EPS raise to 1.15 that is almost 160% for the Pre merger EPS. In pre merger the HDFC EPS is 35.74 per share. After merger the EPS for HDFC is falls to 33.41 per share. That’s why the share holders of the HDFC bank do not have the interest for merging of CBoP in HDFC bank. The share holders of CBoP were happier for this merger. Because of this merger proposal the share value of the CBoP has increased on that day and the share price of the HDFC Bank has decreased. www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 20/29
  • 21. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan ------------------- in Rs. Cr. ------------------- Mar '08 Mar '09 Mar '10 12 mths 12 mths 12 mths Total Share Capital 354.43 425.38 457.74 Equity Share Capital 354.43 425.38 457.74 Share Application Money 0 400.92 0 Preference Share Capital 0 0 0 Reserves 11,142.80 14,226.43 21,064.75 Revaluation Reserves 0 0 0 Net Worth 11,497.23 15,052.73 21,522.49 Deposits 100,768.60 142,811.58 167,404.44 Borrowings 4,478.86 2,685.84 12,915.69 105,247.46 145,497.42 180,320.13 Other Liabilities & Provisions 16,431.91 22,720.62 20,615.94 133,176.60 183,270.77 222,458.56 Cash & Balances with RBI 12,553.18 13,527.21 15,483.28 Balance with Banks, Money at Call 2,225.16 3,979.41 14,459.11 Advances 63,426.90 98,883.05 125,830.59 Investments 49,393.54 58,817.55 58,607.62 Gross Block 2,386.99 3,956.63 4,707.97 Accumulated Depreciation 1,211.86 2,249.90 2,585.16 Net Block 1,175.13 1,706.73 2,122.81 www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 21/29
  • 22. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan Capital Work In Progress 0 0 0 Other Assets 4,402.69 6,356.83 5,955.15 4 133,176.60 183,270.78 222,458.56 Go BackComment Contingent Liabilities 582,835.94 396,594.31 466,236.24 Link Bills for collection 17,092.85 17,939.62 20,940.13 Embed Book Value (Rs) 324.38 344.44 470.19 Zoom 22 of 23 Readcast Like 11 HDFC Particulars 31-Mar-08 31-Mar-09 31-Mar-10 Tw eet I. INCOME 0 Share Interest earned 1011500 1,633,226 1,617,290 Other income 228315 329,060 380,761 Total 1239815 1,962,286 1,998,051 II. EXPENDITURE Interest expended 488712 891,110 778,630 Operating expenses 374562 553,281 576,448 Provisions and contingencies [includes provision 217523 293,402 348,103 for income tax and fringe benefit tax of Rs. 382,73 lacs (previous year: Rs. 313,38 lacs)] Total 1080797 1,737,793 1,703,181 III. PROFIT Net profit for the year 159018 224,494 294,870 Profit brought forward 193203 257,463 345,557 Transfer from investment fluctuation reserve Total 352221 481,957 640,427 IV. APPROPRIATIONS Transfer to Statutory Reserve 39755 56,123 73,718 Proposed dividend 30127 42,538 54,929 Tax (including cess) on dividend 5120 7,229 9,123 Cess on dividend pertaining to previous year paid during the year 6 59 93 Transfer to General Reserve 15902 22,449 29,487 Transfer to Capital Reserve - 9,387 19,946 Transfer to investment fluctuation reserve 3850 -1,386 -149 Balance carried over to Balance Sheet 257461 345,557 453,279 Total 352221 481,957 640,427 V. EARNINGS PER EQUITY SHARE (Face value Rs. 10/- per share) 18 Rs. Rs. Search This Document Search www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 22/29
  • 23. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan Search Search History: Searching... Result 00 of 00 00 results for result for p.Basic 46.22 52.85 67.56 Diluted 45.59 52.59 66.87 Mar ' 08 Mar ' 09 Mar ‘10 EPS 44.87 52.77 64.42 DPS 8.5 10 12 Operating margin (%) 30.78 19.87 24.36 Gross profit margin (%) 28.58 18.05 22.39 Net profit margin (%) 12.82 11.35 14.76 ROCE 5.20 5.96 4.96 Post Merger results are satisfactory but merger is took in Long term prospective, Following are few more benefits to HDFC Access CBoP’s branches of CBoP and an increased presence in National Capital Region states 170 of to 394 branches lie in the North, concentrated in the southern and northern (NCR, 55), Punjab (78), Haryana (28); 150 of its branches are situated in the South, mainly in Kerala (91). Greater access to the North (Punjab and Haryana) as well as the South (particularly Kerala), thereby strengthening its presence in those regions. CBoP’s strong SME relationships will complement HDFC bias towards highly rated corporates thus expanding HDFC’s base. The creation of India’s 7th largest bank, just behind public giants like Bank of Ba roda, Bank of India. Induction of a strong and capable management team with extensive industry experience and proven capabilities. Due to an influx of 394 branches from CBoP, there will be a significant increase in the number of branches for HDFC. www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 23/29
  • 24. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan Merger Report of HDFC-CBOP by Atmakuri Rammohan In this report , complete overview of merger between HDFC&CBOP and effects of pre and post merger on HDFC Add To Collection 3.2K Reads 8 Readcasts 17 Embed Views Published by Ram Mohan Atmakuri Follow Search This Document Search TIP Press Ctrl-F⌘F to search anywhere in the document. Info and Rating Category: Research > Business & Economics Rating: Upload Date: 05/21/2011 Copyright: Attribution Non-commercial India Merger Tags: bank HDFC cbop Read online for free. Flag document for inapproriate content More From This User www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 24/29
  • 25. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan 3 p. Rogue Trader Movie... Ram Mohan Atmakuri 368 Reads 70 p. Report on Fundamental and Technical Analysis of ICICI BANK SHARE Ram Mohan Atmakuri 6197 Reads www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 25/29
  • 26. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan 6 p. Level 5 Management Book Review Ram Mohan Atmakuri 306 Reads Next Related 13 p. dfd-intro Kamaldeep Singh 190 Reads www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 26/29
  • 27. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan 20 p. Presentation1 hdfc& cbop pranav307 645 Reads 13 p. Hdfc rajnisinhagwl 1207 Reads Next Leave a Comment Submit Characters: 400 www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan 27/29
  • 28. 10/9/12 Merger Report of HDFC-CBOP by Atmakuri Rammohan kartikdoshi4u http://www.scribd.com/rammohan_atm/d/... reply03 / 15 / 2012 patelnayan22 hiiii sir,,,,, I am a MBA student, si i wants to this report.,, sir if u arrange so i m very much thankfull to u... my emil ID mukti_hi@yahoo.com reply03 / 02 / 2012 sandipbhavsar12 hye sir i m sandip bhavsar, and i want this report for my study purpose so please arrange it in my email id : sandipbhavsar214@yahoo.com reply02 / 27 / 2012 jerrynini sir m in a urgent need for ur report to submit my project report so plz mail me ur report as soon as possible plz sir................... nitin.mittal1325@gmail.com reply06 / 12 / 2011 Submit Characters: ... About About Scribd Blog Join our team! Contact Us Advertise with us Get started AdChoices Support www.scribd.com/doc/55934987/Merger-Report-of -HDFC-CBOP-by -Atmakuri-Rammohan
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