VSF Projects Ltd

₹ 56.4 -5.00%

31 May - close price

vsfprojects.com BSE: 519331

About

Incorporated in 1992, VFS Projects Ltd is in the business of Construction and Infrastructure development and execution^[1]

Key Points

Business Overview:^[1]^[2]
Company’s core business is providing Engineering & Construction services for large projects across sectors like Power (Thermal, Solar), Transportation (Roads, Bridges etc.) Water (Irrigation and water supply) and Industrial Projects. Company executes Civil works with R&B, PWD Dept with Karnataka State. It has constructed many National Highways, State Highways, Flyovers & Bridges, execution of Infrastructure projects on Turnkey basis

Website BSE

Market Cap ₹ 92.8 Cr.
Current Price ₹ 56.4
High / Low ₹ 82.7 / 25.4
Stock P/E
Book Value ₹ 30.6
Dividend Yield 0.00 %
ROCE -0.30 %
ROE -0.56 %
Face Value ₹ 10.0

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -39.6% over past five years.
Company has a low return on equity of -0.76% over last 3 years.
Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	1	0	0	1	0	0	1	1	0	0	0	0	0
	1	0	0	0	0	0	1	0	0	0	0	0	-0
Operating Profit	0	0	0	0	-0	0	0	0	-0	-0	-0	-0	0
OPM %	26%	15%	18%	34%	-433%	26%	19%	34%	-62%				141%
	0	0	0	0	0	0	0	0	0	0	0	0	36
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	-0	0	0	0	0	0	0	0	0
Profit before tax	0	0	0	0	-0	0	0	0	-0	-0	-0	-0	36
Tax %	-21%	0%	0%	50%	4%	38%	12%	50%	-7%	4%	-11%	14%	-0%
	0	0	0	0	-0	0	0	0	-0	-0	-0	-0	36
EPS in Rs	0.12	0.01	0.03	0.05	-0.16	0.03	0.05	0.05	-0.10	-0.13	-0.13	-0.04	21.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	19	22	4	9	1	0	3	1	2	2	2	0
	18	20	3	8	1	0	10	1	1	2	2	0
Operating Profit	2	2	1	1	0	-0	-7	0	0	0	0	-0
OPM %	10%	10%	23%	14%	17%		-250%	27%	17%	7%	7%	-59%
	0	-0	0	0	-0	-0	0	0	0	0	0	36
Interest	0	1	1	1	0	1	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	1	1	0	1	-1	-1	-7	0	0	-0	0	35
Tax %	33%	23%	283%	56%	13%	7%	0%	-67%	-45%	-700%	83%	0%
	1	1	-0	0	-0	-1	-7	0	0	-0	0	35
EPS in Rs	0.57	0.61	-0.07	0.16	-0.32	-0.63	-4.95	0.03	0.10	-0.05	0.01	21.55
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-37%
5 Years:	-40%
3 Years:	-50%
TTM:	-87%

Compounded Profit Growth
10 Years:	%
5 Years:	15%
3 Years:	%
TTM:	-1600%

Stock Price CAGR
10 Years:	27%
5 Years:	59%
3 Years:	117%
1 Year:	56%

Return on Equity
10 Years:	-6%
5 Years:	0%
3 Years:	-1%
Last Year:	-1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	6	6	6	6	6	6	6	6	6	6	7	7
Reserves	23	24	24	24	18	17	-6	-6	-6	-6	-3	44
	16	16	16	16	2	16	15	16	16	16	15	32
	12	41	42	49	63	50	50	50	50	50	49	10
Total Liabilities	56	86	88	95	90	89	66	66	66	66	67	91
	28	28	28	27	27	26	64	64	64	64	63	63
CWIP	0	0	0	0	0	0	0	0	0	0	2	21
Investments	0	54	54	54	54	54	0	0	0	0	0	0
	29	5	7	14	9	9	2	2	2	2	2	7
Total Assets	56	86	88	95	90	89	66	66	66	66	67	91

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-4	54	0	-1	-0	-0	1	-0	-0	-0	-1	-4
	-17	-55	-0	0	0	0	0	0	0	0	-2	-19
	21	1	0	0	0	0	-1	0	0	0	2	27
Net Cash Flow	-1	0	-0	0	0	-0	-0	0	-0	-0	0	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	279	25	355	480	2,092		1	3	2	2	0	0
Inventory Days					0		0	0	0	0	0
Days Payable
Cash Conversion Cycle	279	25	355	480	2,092		1	3	2	2	0	0
Working Capital Days	290	-190	-905	-396	-4,400		-3,081	-6,647	-4,669	-4,911	-4,758	-9,905
ROCE %	5%	4%	1%	2%	-0%	-1%	-26%	1%	1%	-0%	0%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	43.23%	43.23%	43.23%	43.23%	43.23%	43.23%	43.23%	43.08%	43.39%	43.39%	43.38%	43.38%
	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.33%	3.33%	3.33%	3.33%
	53.04%	53.04%	53.04%	53.04%	53.04%	53.04%	53.04%	53.18%	53.29%	53.29%	53.28%	53.29%
No. of Shareholders	8,199	8,234	8,230	8,264	8,286	8,272	8,272	8,238	8,277	8,254	8,262	8,301

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	42.54%	43.23%	43.23%	43.23%	43.23%	43.23%	43.08%	43.38%
	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.33%
	53.73%	53.04%	53.04%	53.04%	53.04%	53.04%	53.18%	53.29%
No. of Shareholders	8,218	8,205	8,194	8,191	8,188	8,264	8,238	8,301

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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VSF Projects Ltd

VSF Projects Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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