VSF Projects Ltd

₹ 71.6 -3.83%

19 Apr - 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 ₹ 47.1 Cr.
Current Price ₹ 71.6
High / Low ₹ 80.0 / 40.0
Stock P/E
Book Value ₹ 4.64
Dividend Yield 0.00 %
ROCE 0.35 %
ROE 0.53 %
Face Value ₹ 10.0

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Pros

Cons

Stock is trading at 15.4 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of 3.26% 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: Construction Industry: Construction

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Detailed Comparison with:

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
	0.45	0.73	0.47	0.50	0.62	0.06	0.31	0.63	0.62	0.21	-0.00	-0.00	-0.00
	0.39	0.54	0.40	0.41	0.41	0.32	0.23	0.51	0.41	0.34	0.23	0.16	0.05
Operating Profit	0.06	0.19	0.07	0.09	0.21	-0.26	0.08	0.12	0.21	-0.13	-0.23	-0.16	-0.05
OPM %	13.33%	26.03%	14.89%	18.00%	33.87%	-433.33%	25.81%	19.05%	33.87%	-61.90%
	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Interest	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Depreciation	0.05	0.05	0.05	0.05	0.05	-0.03	-0.00	0.04	0.05	0.02	-0.00	0.03	0.02
Profit before tax	0.01	0.14	0.02	0.04	0.16	-0.23	0.08	0.08	0.16	-0.15	-0.23	-0.19	-0.07
Tax %	-100.00%	-21.43%	-0.00%	-0.00%	50.00%	4.35%	37.50%	12.50%	50.00%	-6.67%	4.35%	-10.53%	14.29%
	0.03	0.17	0.02	0.05	0.07	-0.23	0.05	0.07	0.07	-0.16	-0.22	-0.21	-0.06
EPS in Rs	0.05	0.29	0.03	0.09	0.12	-0.39	0.09	0.12	0.12	-0.24	-0.33	-0.32	-0.09
Raw PDF

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
	18.16	19.42	22.30	4.47	9.14	1.26	-0.00	2.74	1.24	1.74	1.65	1.63	0.21
	16.48	17.52	20.15	3.46	7.84	1.04	0.22	9.60	0.91	1.44	1.54	1.51	0.78
Operating Profit	1.68	1.90	2.15	1.01	1.30	0.22	-0.22	-6.86	0.33	0.30	0.11	0.12	-0.57
OPM %	9.25%	9.78%	9.64%	22.60%	14.22%	17.46%		-250.36%	26.61%	17.24%	6.67%	7.36%	-271.43%
	0.07	0.02	-0.12	-0.00	0.12	-0.05	-0.04	-0.00	0.02	-0.00	-0.00	-0.00	0.00
Interest	0.14	0.41	0.56	0.52	0.53	0.47	0.51	0.22	0.12	-0.00	-0.00	-0.00	0.00
Depreciation	0.25	0.26	0.30	0.43	0.34	0.24	0.23	0.21	0.20	0.19	0.12	0.06	0.07
Profit before tax	1.36	1.25	1.17	0.06	0.55	-0.54	-1.00	-7.29	0.03	0.11	-0.01	0.06	-0.64
Tax %	31.62%	32.80%	23.08%	283.33%	56.36%	12.96%	7.00%	0.27%	-66.67%	-45.45%	-700.00%	83.33%
	0.93	0.84	0.90	-0.10	0.24	-0.47	-0.93	-7.27	0.05	0.15	-0.08	0.01	-0.65
EPS in Rs	1.58	1.43	1.53	-0.17	0.41	-0.80	-1.58	-12.39	0.09	0.26	-0.14	0.02	-0.98
Dividend Payout %	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%

Compounded Sales Growth
10 Years:	-22%
5 Years:	%
3 Years:	10%
TTM:	-87%

Compounded Profit Growth
10 Years:	-36%
5 Years:	15%
3 Years:	-42%
TTM:	-1525%

Stock Price CAGR
10 Years:	25%
5 Years:	55%
3 Years:	103%
1 Year:	49%

Return on Equity
10 Years:	-5%
5 Years:	-50%
3 Years:	3%
Last Year:	1%

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	5.87	5.87	5.87	5.87	5.87	5.87	5.87	5.87	5.87	5.87	5.87	6.58	6.58
Reserves	4.97	23.01	23.92	23.81	24.06	18.29	17.36	-5.72	-5.67	-5.52	-5.60	-3.11	-3.53
	11.17	15.50	16.03	15.95	15.74	2.22	16.38	15.28	15.65	15.65	15.65	14.93	22.78
	9.53	11.94	40.59	42.45	49.47	63.38	49.72	50.49	49.99	49.57	49.65	48.83	50.61
Total Liabilities	31.54	56.32	86.41	88.08	95.14	89.76	89.33	65.92	65.84	65.57	65.57	67.23	76.44
	10.71	27.78	28.16	27.73	27.07	26.69	26.36	64.06	63.84	63.65	63.53	63.48	63.45
CWIP	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	1.58	9.33
Investments	0.01	0.01	53.72	53.72	53.72	53.72	53.72	-0.00	-0.00	-0.00	-0.00	-0.00	0.07
	20.82	28.53	4.53	6.63	14.35	9.35	9.25	1.86	2.00	1.92	2.04	2.17	3.59
Total Assets	31.54	56.32	86.41	88.08	95.14	89.76	89.33	65.92	65.84	65.57	65.57	67.23	76.44

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
	-3.01	-3.75	53.82	0.20	-0.53	-0.24	-0.45	1.28	-0.24	-0.02	-0.02	-0.88
	-5.81	-17.33	-54.51	-0.22	0.27	0.14	0.11	-0.00	0.04	-0.00	-0.00	-1.59
	9.33	20.57	0.69	-0.00	0.38	0.10	0.29	-1.32	0.25	-0.00	-0.00	2.47
Net Cash Flow	0.51	-0.51	-0.00	-0.02	0.12	-0.00	-0.05	-0.04	0.05	-0.02	-0.02	-0.00

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	151.95	279.11	24.88	355.20	480.01	2,091.51		1.33	2.94	2.10	2.21	-0.00
Inventory Days						-0.00		-0.00	-0.00	-0.00	-0.00	-0.00
Days Payable
Cash Conversion Cycle	151.95	279.11	24.88	355.20	480.01	2,091.51		1.33	2.94	2.10	2.21	-0.00
Working Capital Days	209.03	289.63	-189.54	-904.74	-395.75	-4,400.28		-3,081.19	-6,646.53	-4,669.48	-4,910.91	-4,758.44
ROCE %	8.90%	5.00%	4.10%	1.27%	2.48%	-0.06%	-1.36%	-25.69%	0.96%	0.69%	-0.06%	0.35%

Shareholding Pattern

Numbers in percentages

1 Recently

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	43.23%	43.23%	43.23%	43.23%	43.23%	43.23%	43.23%	43.23%	43.08%	43.39%	43.39%	43.38%
	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.73%	3.33%	3.33%	3.33%
	53.04%	53.04%	53.04%	53.04%	53.04%	53.04%	53.04%	53.04%	53.18%	53.29%	53.29%	53.28%
No. of Shareholders	8,188	8,199	8,234	8,230	8,264	8,286	8,272	8,272	8,238	8,277	8,254	8,262

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Dec 2023
	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%	53.28%
No. of Shareholders	8,218	8,205	8,194	8,191	8,188	8,264	8,238	8,262

* 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

Annual reports