Coforge Ltd

Coforge Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Coforge Ltd

₹ 5,210 0.34%
25 Apr - close price
coforge.com BSE: 532541 NSE : COFORGE
About

Coforge is an IT services company providing end-to-end software solutions and services. .
It is among the top-20 Indian software exporters. Prominent global customers include British Airways, the ING group, SEI Investments, Sabre, and SITA. Over the years, Coforge has set up subsidiaries in the US, Singapore, Australia, UK, Germany and Thailand, mainly to market and mobilise projects for the software division. The company has business partnerships with large IT companies across the world.

Key Points

Acquisition of NIIT Tech
The co. was formerly known as NIIT Technologies Ltd. and was incorporated in April 2003. In May 2019, NIIT and its founder's family members sold their stakes totaling 30.2% in Coforge to Hulst B.V. In August 2019, Hulst made an open offer and acquired a ~40% stake from the public, increasing its total stake in Coforge to 70.05. [1]

Website BSE NSE
  • Market Cap ₹ 32,212 Cr.
  • Current Price ₹ 5,210
  • High / Low ₹ 6,847 / 4,055
  • Stock P/E 32.6
  • Book Value ₹ 452
  • Dividend Yield 1.23 %
  • ROCE 33.6 %
  • ROE 32.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 28.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%
  • Company has been maintaining a healthy dividend payout of 45.1%

Cons

  • Stock is trading at 11.5 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.749 Cr.
  • Debtor days have increased from 54.4 to 67.6 days.

* 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: IT - Software Industry: Computers - Software - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
612 615 737 812 880 884 972 1,044 1,088 1,127 1,140 1,219 1,265
534 559 673 704 744 766 878 932 934 1,032 1,072 1,109 1,092
Operating Profit 78 56 64 108 136 119 94 112 154 94 68 110 173
OPM % 13% 9% 9% 13% 15% 13% 10% 11% 14% 8% 6% 9% 14%
7 16 147 73 82 98 99 70 159 208 197 36 308
Interest 2 1 9 13 15 15 14 16 16 13 14 18 19
Depreciation 24 24 22 21 21 21 28 27 24 30 30 31 32
Profit before tax 59 47 180 147 182 181 151 139 274 259 221 97 429
Tax % 17% 20% 5% 14% 9% 1% 11% 16% 12% 7% 5% 21% 4%
49 38 172 126 166 180 135 117 240 241 211 77 410
EPS in Rs 8.09 6.25 28.33 20.84 27.30 29.60 22.10 19.19 39.25 39.48 34.54 12.46 66.39
Raw PDF
Upcoming result date: 2 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
827 1,108 1,308 1,346 1,484 1,595 1,646 1,999 2,231 2,412 3,313 4,230 4,751
666 872 1,067 1,115 1,220 1,315 1,396 1,698 1,929 2,131 2,887 3,775 4,306
Operating Profit 162 236 241 231 265 280 250 301 302 281 427 456 445
OPM % 20% 21% 18% 17% 18% 18% 15% 15% 14% 12% 13% 11% 9%
30 33 74 8 45 11 115 153 284 104 400 534 749
Interest 2 3 3 5 7 4 7 5 8 6 52 59 64
Depreciation 24 40 42 67 82 91 82 78 90 96 84 109 124
Profit before tax 166 226 271 168 221 197 276 370 487 283 692 822 1,007
Tax % 32% 26% 23% 12% 13% 16% 18% 19% 13% 15% 7% 11%
113 168 208 148 192 165 226 299 422 240 644 732 939
EPS in Rs 18.97 27.87 34.33 24.18 31.33 26.87 36.81 48.39 67.61 39.59 105.82 119.91 152.87
Dividend Payout % 42% 30% 26% 39% 32% 47% 41% 0% 46% 33% 49% 53%
Compounded Sales Growth
10 Years: 14%
5 Years: 21%
3 Years: 24%
TTM: 19%
Compounded Profit Growth
10 Years: 17%
5 Years: 28%
3 Years: 31%
TTM: 47%
Stock Price CAGR
10 Years: 29%
5 Years: 32%
3 Years: 22%
1 Year: 29%
Return on Equity
10 Years: 21%
5 Years: 24%
3 Years: 26%
Last Year: 32%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 60 60 61 61 61 61 62 62 62 61 61 61 62
Reserves 577 708 868 959 1,162 1,278 1,412 1,642 1,913 1,744 2,145 2,554 2,728
8 9 26 28 13 28 22 13 6 16 353 395 649
206 239 267 407 301 246 289 269 365 428 682 768 674
Total Liabilities 850 1,016 1,221 1,455 1,537 1,614 1,785 1,986 2,346 2,250 3,241 3,778 4,112
265 274 271 376 524 494 464 426 412 383 394 436 457
CWIP 0 28 116 116 1 0 1 1 0 0 9 2 1
Investments 166 198 163 234 409 584 744 866 837 855 1,834 1,834 2,170
418 516 671 729 603 535 576 693 1,097 1,012 1,005 1,507 1,484
Total Assets 850 1,016 1,221 1,455 1,537 1,614 1,785 1,986 2,346 2,250 3,241 3,778 4,112

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
127 154 55 242 404 240 202 196 228 485 389 76
-66 -94 -34 -187 -263 -222 -119 -46 206 -4 -731 414
-41 -46 -26 -61 -81 -65 -75 -103 -133 -494 2 -413
Net Cash Flow 20 14 -5 -6 61 -47 9 46 301 -13 -340 77

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 103 105 120 120 62 48 56 58 66 49 47 68
Inventory Days 15 11 35
Days Payable 334 187 556
Cash Conversion Cycle 103 -215 -55 -401 62 48 56 58 66 49 47 68
Working Capital Days 40 64 91 55 47 44 36 40 35 7 -3 21
ROCE % 27% 32% 31% 18% 20% 17% 20% 23% 22% 15% 34% 34%

Shareholding Pattern

Numbers in percentages

19 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
55.73% 50.18% 49.97% 40.09% 40.09% 40.06% 39.99% 30.16% 26.63% 0.00% 0.00% 0.00%
19.42% 20.67% 19.12% 22.40% 21.87% 21.02% 21.30% 25.40% 24.78% 34.37% 34.04% 35.00%
14.93% 18.64% 20.29% 25.68% 25.88% 26.45% 26.73% 32.20% 37.20% 54.28% 55.02% 54.29%
9.92% 10.50% 10.62% 11.83% 12.16% 12.47% 11.97% 12.23% 11.39% 11.35% 10.95% 10.69%
No. of Shareholders 68,97594,5611,04,2501,42,0491,50,3081,63,7791,53,3931,46,6851,33,6461,23,3301,17,8441,26,739

* 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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