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SECTOR: REALTY REPORTING DATE: 14TH AUGUST, 2017

MVL LTD www.mvl.in

www.mvl.in MVL Ltd NSE Code - MVL TABLE 1 - MARKET DATA (STANDALONE) (AS ON 6TH AUGUST, 2017)

Sector - Realty NSE Market Price (`) 0.50 NSE Market Cap. (₹ Cr.) 32.46

Face Value (`) 1.00 Equity (` Cr.) 60.12

Business Group – N.A. 52 week High/Low (₹) 0.7/0.25 Net worth (₹ Cr.)* 165.51

Year of Incorporation - 2006 TTM P/E (TTM) N.A. Traded Volume (Shares) 18,513

TTM P/BV 0.20 Traded Volume (lacs) 0.09

Registered Office - Source - Capitaline, TTM - Trailing Twelve Months, N.A. – Not Applicable, * As on 30th September 2016

1201, B, 12th Floor, COMPANY BACKGROUND

Hemkunt Chamber 89, Nehru place, MVL Limited is engaged in the business of real estate builders and developers. The

Company operates in residential, commercial, township and retail sectors. The

Company's residential projects include initiative for both middle-income groups and

lower-middle-income groups. In addition to its project, MVL Coral in Bhiwadi, the

Company has also taken initiative in the field of affordable housing with its budget

homes project, MVL IndiHomes. Its other residential complex in Bhiwadi is The Palms,

targeting the mobile middle-income group. In the Township segment, the Company is

focused on launching its project in Yamunanagar, MVL Rivercity, which intends to offer

a mix of plots, villas, independent floors, group housing and a star hotel cum club, a mall,

as well as a commercial center. In the commercial segment, the Company offers office

spaces in Gurgaon that include information technology (IT) park, MVL iPark, as well as

an office project, MVL IBC

New Delhi – 110 019

Company Website:

www.mvl.in

Revenue and Profit Performance

The revenue of the Company decreased from ₹ 5.70 crores

to ₹ 1.69 crores from quarter ending Sep’15 to quarter

ending Sep’16. The Company made a profit of ₹ 1.12 crores

in quarter ending Sep’16 vis-a-vis making a profit of ₹ 0.02

crores in quarter ending Sep’15.

Source- Money Control

Performance vis-à-vis Market

TABLE 2- Returns

1-m 3-m 6-m 12-m

MVL Ltd -9.09% -20.00% -9.09% 25.00%

Nifty 2.46% 6.53% 14.22% 16.37%

NIFTY REALTY 2.63% 5.42% 46.88% 37.23%

Source- Capitaline/NSE

-

0.50

1.00

1.50

2.00

Aug16

Sep16

Oct16

Nov16

Dec16

Jan17

Feb17

Mar17

Apr17

May17

Jun17

Jul 17

MVL Ltd NIFTY NIFTY REALTY

1.690.20

5.70

1.12-4.04 0.02

-5

0

5

10

Sep'16 Mar'16 Sep'15

Quarterly revenue and Profit (₹ CRORE)

Revenue Profit

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SECTOR: REALTY REPORTING DATE: 14TH AUGUST, 2017

MVL LTD www.mvl.in

www.mvl.in

TABLE 3 - FINANCIALS

(₹ Cr.) Sep’16 Mar’16 Sep’15 % Change

Sep ’16 vs Mar’16 Mar’16 vs Sep’15

Net Worth 165.51 165.80 170.48 -0.17% -2.75%

Current Assets 442.58 433.64 393.07 2.06% 10.32%

Non-Current Assets 70.35 78.45 104.87 -10.32% -25.19%

Total Assets 512.93 512.09 497.94 0.16% 2.84%

Investments 1.05 1.08 1.71 -3.04% -36.76%

Finance Cost 0.04 0.01 0.02 300.00% -50.00%

Long Term Liabilities 65.23 63.55 87.60 2.64% -27.45%

Current Liabilities 282.19 282.74 239.86 -0.20% 17.88%

Turnover 0.84 0.10 4.44 740.00% -97.75%

Profit After Tax (PAT) 1.12 -4.04 0.02 N.A. N.A

EPS (₹) 0.02 -0.07 - N.A. N.A.

Source - Money Control/ Stock Exchange filing; N.A. – Not Applicable

AUDIT QUALIFICATIONS

Audit Qualifications in FY 2015-16, FY 2014-15 & FY 2013-14

Basis for Qualified Opinion FY 2015-16:

“A] Note No. 39 in respect of non-provision of interest with retrospective effect from 01.04.2014 (vide Board Resolution dated

17.02.2015) on loans from banks and financial institutions declared as Non-Performing Account (NPA). As a result of non-

provision of said interest of ₹ 40.97 Cr (previous year ₹ 32.39 Cr) payable during the year on the said NPA Accounts: -

• Revenue from operation has been understated by ₹ 18.99 Cr- (previous year ₹ 26.15 Cr) arising out of percentage of completion (POC) method of accounting, due to non-capitalization of interest directly attributable to project work-in-progress.

• Loss from operation has been understated by ₹ 21.98 Cr (previous year ₹ 6.25 Cr)

B] Note No. 40 regarding non-provision of advances to group companies considered doubtful of recovery and the lonee

companies do not have the capacity / net-worth to repay the principal / or the interest charged thereon.”

Management Response for FY 2015-16:

“A] The Board is of the opinion that the loan account with the banks and financial institutions which are NPA, are under advanced

stage of settlement with these lenders. The lending banks and financial institutions are not providing for interest since the date

of NPA on principles of prudence. Following the same principle and the expectations to get interest waivers on settlement, the

Company has also not provided for such interest in books of accounts.

B] The said advances to the group companies were given in lieu of loss suffered by these companies on account of guarantees

provided to the lenders on our behalf. However, these advances are recoverable/ adjustable and that no provision is necessary

at this stage. The Board is of the view that the Company is hopeful for their recovery during the ensuing year, so no provision

has been created.”

Basis for Qualified Opinion FY 2014-15:

“1. Note No. 37 in respect of non-availability of confirmations in respect of some debit and/or credit balances. In the absence of

such confirmations, any provision to be made for the adverse variation in carrying amounts of these balances, are not quantified,

as well as the quantum of adjustment if any, required to be made remain unascertained.

2. Note No. 38 in respect of non-provision of penal interest on loans declared as NPA. Liability for penal interest payable has also

not been quantified on account of uncertainty and discretionary nature of penal interest, if any payable.

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SECTOR: REALTY REPORTING DATE: 14TH AUGUST, 2017

MVL LTD www.mvl.in

www.mvl.in 3. Note No. 39 in respect of non-provision of interest with retrospective effect from 01.04.2014 vide Board Resolution dated

17.02.2015 on loans from banks and financial institutions declared as Non-Performing Account (NPA). As a result of non-

provision of said interest of ₹ 32.39 Cr payable on NPA Account as per last agreed terms : -

• Revenue from operation has been understated by ₹ 26.15 Cr arising out of percentage of completion (POC) method of

accounting, due to non-capitalization of interest directly attributable to project work-in-progress.

• Loss from operation has been understated by ₹ 6.25 Cr on account of non-provision of interest of ₹ 32.39 Cr and short

booking of sales by ₹ 26.14 Cr.

4. Note No. 40 regarding non-provision of advance to an associate company considered doubtful of recovery and non-provision

of interest on the said loan.”

Management Response for FY 2014-15

“1. The Board is of the view that the company has its own internal audit system to monitor the reconciliations periodically; hence

confirmations of all outstanding balances at the year end are not taken.

2. The Banks & Financial Institutions are not providing interest on NPA Loans as per prudential norms of Reserve Bank of India.

These loans are under settlement/restructuring with the Banks/Financial Institutions. Therefore, the Board is of the opinion that

interest and penal interest will be booked after such settlement/ restructuring only. The Board has decided to follow uniform

policy on this matter w.e.f. 1st April, 2014.

3. The Board is of the opinion that as a result of non provision of said interest of ₹ 32.39 Cr. payable on NPA Account as per last

agreed terms : -

a) Revenue from operation has been understated by ₹ 26.15 Cr. arising out of percentage of completion (POC) method

of accounting, due to non-capitalization of interest directly attributable to project work-in-progress.

b) Loss from operation has been understated by ₹ 6.25 Cr. on account of non provision of interest of Rs.32.39 Cr. and

short booking of sales by ₹ 26.15.

4. The said loan was agreed to be provided to related company during financial year 2013-14, to clear their urgent liabilities

towards Banks/ Financial Institutions. The Board is of the view that the Company is hopeful for their recovery during the ensuing

year, so no provision has been created.”

Basis for Qualified Opinion FY 2013-14:

Note No. 37 regarding non availability of confirmations in respect of some of the debit and/or credit balances of trade

receivables, trade payable, loans, advances, bank account and deposits. In the absence of such confirmations, any provision to

be made for the adverse variation in carrying amounts of these balances, are not quantified, as well as the quantum of

adjustment if any, required to be made remain unascertained.

Management Response for FY 2013-14

The Board explains that the company has its own internal audit system to monitor the reconciliations periodically, hence

confirmations of all outstanding balances at the year end are not taken.

Response Comment

Frequency of Qualifications Audit Qualifications in FY 15/16, FY 14/15

and FY 13/14

Have the auditors made any adverse remark in last 3 years? No

Are the material accounts audited by the Principal Auditors? Yes -

Do the financial statements include material unaudited financial statements? No -

Source- Annual Reports

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MVL LTD www.mvl.in

www.mvl.in TABLE 4: BOARD PROFILE (AS PER ANNUAL REPORT 2015-16)

Regulatory Norms Company

% of Independent Directors on the Board 50% 50%

% of Promoter Directors on the Board - 16.67%

Number of Women Directors on the Board At least 1 1

Classification of Chairman of the Board - No Chairman*

Is the post of Chairman and MD/CEO held by the same person? - No

Average attendance of Directors in the Board meetings (%) - 65.56%

*The Company has stated in its Annual Report-Corporate Governance Report that “The present strength of the Board of Directors of the Company is six which

including Chairman.” However, the Company not disclosed the name of the said Chairman.

Composition of Board: As per Regulation 17(1)(b) of the Listing Regulations, 2015, the Company should have at least 50%

Independent Directors as the Company has no Chairman of the Board. The Company has 50% of Independent Directors as per

Annual Report 2015-16 and hence, it meets the regulatory requirements.

Board Diversity: The Company has 6 directors out of which 5 are male and 1 is female.

TABLE 5 - FINANCIAL RATIOS

Ratios Sep’16 Mar’16 Sep’15

% Change

Sep ’16 vs

Mar’16

Mar’16 vs

Sep’15

Turn

ove

r

Rat

ios

Inventory Turnover 0.01 0.00 0.04 738.30% -98.37%

Debtors Turnover 0.00 0.00 0.02 739.63% -97.74%

Fixed asset Turnover 0.01 0.00 0.04 836.64% -96.99%

Current Asset Turnover 0.00 0.00 0.01 723.04% -97.96%

Ret

urn

Rat

ios Operating Profit Margin -78.57% -4,210.00% 6.76% N.A. N.A.

Net Profit Margin 133.33% -4,040.00% 0.45% N.A. N.A.

Return on Assets (ROA) 0.22% N.A. 0.00% N.A. N.A.

Return on Equity (ROE) 0.68% N.A. 0.01% N.A. N.A.

Return on Capital Employed (ROCE) 0.49% N.A. 0.01% N.A. N.A.

Liq

uid

ity

Rat

ios

Current Ratio 1.57 1.53 1.64 2.26% -6.41%

Quick Ratio 1.07 1.03 1.21 3.16% -14.75%

Cash Ratio 0.17 0.14 0.16 21.18% -9.69%

Working Capital Turnover ratio 0.01 N.A. 0.00 N.A. N.A.

Solv

en

cy

Rat

ios Debt to equity ratio 1.55 1.55 1.51 0.15% 2.70%

Interest Coverage Ratio N.A. N.A. 15.00 N.A. N.A.

Trad

ing

Rat

ios

Market Cap / Sales 28.63 210.40 6.09 -86.39% 3,353.52%

Market Cap/ Net Worth 0.15 0.13 0.16 14.50% -20.02%

Market Cap/PAT 21.47 N.A. 1,352.50 N.A. N.A.

Market Cap/EBITDA N.A. N.A. 90.17 N.A. N.A.

Source - Money Control; N.A. – Not Applicable

TABLE 6 - TRADING VOLUME

Jun’17 Dec’16 Jun’16

% Change

Jun’ 17 Vs

Dec’ 16

Dec’ 16 Vs

Jun’ 16

Trading Volume (shares) (avg. of 1 qtr) 3,50,355 3,63,135 1,07,577 -3.52% 237.56%

Trading Volume (shares) (high in 1 qtr) 25,29,857 16,74,559 3,38,733 51.08% 394.36%

Trading Volume (shares) (low in 1 qtr) 3,068 3,020 4,284 1.59% -29.51%

Ratio - High/low trading volume 824.59 554.49 79.07 48.71% 601.27%

Ratio - High/average trading volume 7.22 4.61 3.15 56.59% 46.45%

Source – Capital Line

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MVL LTD www.mvl.in

www.mvl.in

TABLE 7 (A): OWNERSHIP & MANAGEMENT RISKS

Jun’17 Dec’16 Jun’16 Comments

Shar

eho

ldin

g (%

)

Promoter shareholding 55.59 55.59 55.99 • No new equity shares were issued during

the period from June 16 to June 17.

• There was no change in the promoter

shareholding during the said period.

• No major change was observed in the

shareholding pattern during the said

period.

• The promoters have pledged/

encumbered 30.62% of their

shareholding.

Public - Institutional

shareholding 4.83 4.86 4.86

Public - Others shareholding 39.58 39.55 39.55

Non-Promoter Non-Public

Shareholding 0.00 0.00 0.00

Source – NSE

MAJOR SHAREHOLDERS (AS ON 30th JUNE, 2017)

S. No. Promoters Shareholding S. No. Public Shareholders Shareholding

1 MVL Credit Holdings & Leasing Ltd 21.26% 1 Dena Bank-Constitunet Brances 4.71%

2 Media Magnetic Cassettes Ltd 10.04% 2 Religare Finvest Ltd 2.73%

3 Risbro Technical Equipment’s Pvt Ltd 7.68% 3 Karvy financial Services Ltd 2.04%

4 Anukul Rishi 4.45% 4 Aarken Advisors Pvt Ltd 1.97%

5 Media Holdings Pvt Ltd 4.00% 5 Noesis Industries Ltd 1.80%

Source – NSE

TABLE 7 (B): OWNERSHIP & MANAGEMENT RISKS

Market Activity of Promoters The promoters have not sold/bought any shares in last one year.

Preferential issue to promoters No preferential issue of shares was made to the promoters in last year

Preferential issue to others No preferential issue of shares was made to other shareholders during last year.

GDRs issued by the Company The Company did not issue any GDRs in FY 15-16.

Issue of ESOPs/Issue of shares other

than Preferential allotment

The Company not disclosed if it has an Employee Stock Option Plan and if it has

issued any shares to the employees under its ESOP Scheme in FY 15-16

Source - Annual Report 2015-16

TABLE 8: PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Sr. No. Name and Description of main products / services % to Total turnover of the Company

1 Real Estate 100%

Source - Annual Report 2015-16

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MVL LTD www.mvl.in

www.mvl.in Glossary

Equity: The equity shares capital of the Company

Net Worth: The amount by which the Assets exceeds the liabilities excluding shareholders’ funds of the Company

Turnover: The revenue earned from the operations of the Company

EPS: Earning Per Share is net profit earned by the Company per share

𝐸𝑃𝑆 =Profit After Tax

Number of outstanding shares

P/E ratio: It is the ratio of the Company’s share price to earnings per share of the Company

𝑃/𝐸 𝑟𝑎𝑡𝑖𝑜 =Price of each share

Earnings per share

Current Assets: Cash and other assets that are expected to be converted to cash in one year

Fixed Assets: assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land,

buildings, and equipment

Total Assets: Current Assets + Fixed Assets

Investments: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in

the future.

Finance Cost: The Financing Cost (FC), also known as the Cost of Finances (COF), is the cost and interest and other charges

incurred during the year in relation to borrowed money.

Long Term Liabilities: Long-term liabilities are liabilities with a maturity period of over one year.

Current Liabilities: A company's debts or obligations that are due within one year.

Inventory Turnover ratio: Inventory Turnover is a ratio showing how many times a company's inventory is sold and replaced

over a period.

𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Inventory

Debtors Turnover: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a business

can turn its accounts receivable into cash during a period

𝐷𝑒𝑏𝑡𝑜𝑟𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Accounts recievables

Fixed Asset Turnover: The fixed-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Fixed Assets

Current Asset Turnover: The current-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Current Assets

Operating Profit Margin: Operating margin is a measurement of what proportion of a Company’s revenue is left over after

paying for variable costs of production such as wages, raw materials etc. It can be calculated by dividing a Company’s operating

income (also known as “operating profit”) during a given period by its sales during the same period.

𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Operating profit

Sales Turnover

Net Profit Margin: Net profit margin is the percentage of revenue left after all expenses have been deducted from sales

𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Net profit

Sales Turnover

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www.mvl.in Return on Assets: ROA tells you what earnings were generated from invested capital (assets)

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 =Net profit

Total Assets

Return on equity/net worth: return on equity (ROE) is the amount of net income returned as a percentage of shareholders’

equity.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 =Net profit

Net worth

Return on Capital Employed: Return on capital employed (ROCE) is a financial ratio that measures a company's profitability

and the efficiency with which its capital is employed.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑑 =Net profit

Total Debt + Equity share capital

Current ratio: The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts

over the next 12 months. It compares a firm's current assets to its current liabilities.

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑟𝑎𝑡𝑖𝑜 =Current Assets

Current Liabilities

Quick ratio: The quick ratio is a measure of how well a Company can meet its short term financial liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories

Current Liabilities

Cash ratio: The ratio of the liquid assets of a Company to its current liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories − Account Recievables

Current Liabilities

Working Capital Turnover ratio: The working capital turnover ratio is also referred to as net sales to working capital. It indicates

a Company's effectiveness in using its working capital.

𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Current Assets − Current Liabilities

Debt to Equity ratio: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of

shareholders' equity and debt used to finance a company's assets.

𝐷𝑒𝑏𝑡 𝑡𝑜 𝐸𝑞𝑢𝑖𝑡𝑦 𝑟𝑎𝑡𝑖𝑜 =𝑆ℎ𝑜𝑟𝑡 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 + 𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡

𝑁𝑒𝑡 𝑊𝑜𝑟𝑡ℎ

Interest Coverage ratio: The Interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a

Company can pay interest on outstanding debt.

𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐶𝑜𝑣𝑒𝑟𝑎𝑔𝑒 𝑅𝑎𝑡𝑖𝑜 =𝐸𝑎𝑟𝑛𝑖𝑛𝑔 𝐵𝑒𝑓𝑜𝑟𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑇𝑎𝑥

𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝐶𝑜𝑠𝑡

Market Cap/Sales ratio: Market Cap/sales ratio, Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is

calculated by dividing the company's market cap by the revenue in the most recent year; or, equivalently, divide the per-

share stock price by the per-share revenue.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑆𝑎𝑙𝑒𝑠 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Market Cap/ Net Worth ratio: It is a valuation ratio calculated by dividing Company’s market cap to net worth.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ

Market Cap/ PAT ratio: It is a valuation ratio calculated by dividing Company’s market cap to net profit.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑃𝐴𝑇 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡

Market Cap/ EBITDA ratio: It is a valuation ratio calculated by dividing Company’s market cap to EBITDA.

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SECTOR: REALTY REPORTING DATE: 14TH AUGUST, 2017

MVL LTD www.mvl.in

www.mvl.in 𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝐸𝐵𝐼𝑇𝐷𝐴 𝑟𝑎𝑡𝑖𝑜 =

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝐸𝐵𝐼𝑇𝐷𝐴

Trading Volume (shares) (avg. of 1 year): Average number of shares/day traded in 1 year

Trading volume (shares) (high in 1 year): Highest number of shares/day traded in 1 year

Trading volume (shares) (minimum in 1 year): Lowest number of shares traded on any one day in 1 year

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SECTOR: REALTY REPORTING DATE: 14TH AUGUST, 2017

MVL LTD www.mvl.in

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Research Analyst: Aditi Chandani