CG-VAK Software & Exports Ltd

CG-VAK Software and Exports Limited primarily engages in the development of computer software. The company offers outsourced software product development services, including product life cycle, product maintenance, product migration, product testing, and technical writing/documentation.

Pros:
Company is virtually debt free.
Promoter's stake has increased
Company has been maintaining a healthy dividend payout of 39.55%
Cons:
The company has delivered a poor growth of 10.41% over past five years.
Company has a low return on equity of 8.71% for last 3 years.

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Medium / Small

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
2.77 2.65 3.18 3.02 3.43 3.38 3.55 3.89 5.38 5.28 5.00 4.69
2.51 2.46 2.84 3.12 2.98 2.90 3.42 3.49 3.57 3.66 4.04 4.14
Operating Profit 0.26 0.19 0.34 -0.10 0.45 0.48 0.13 0.40 1.81 1.62 0.96 0.55
OPM % 9.39% 7.17% 10.69% -3.31% 13.12% 14.20% 3.66% 10.28% 33.64% 30.68% 19.20% 11.73%
Other Income 0.03 0.03 0.05 -0.02 0.04 0.14 0.05 0.14 0.07 0.07 0.02 0.06
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
Depreciation 0.07 0.07 0.08 0.06 0.06 0.07 0.07 0.08 0.08 0.08 0.09 0.09
Profit before tax 0.22 0.15 0.31 -0.18 0.43 0.55 0.11 0.46 1.80 1.61 0.89 0.52
Tax % 31.82% 33.33% 29.03% 27.78% 32.56% 47.27% 0.00% 10.87% 26.67% 27.33% 26.97% 38.46%
Net Profit 0.15 0.10 0.22 -0.12 0.28 0.29 0.12 0.42 1.32 1.17 0.64 0.32
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
5.38 6.05 7.23 5.94 6.33 6.60 8.69 8.95 10.54 10.04 11.62 14.26 20.35
4.87 5.91 6.88 6.02 6.08 7.20 7.05 7.90 8.89 8.78 10.68 12.65 15.41
Operating Profit 0.51 0.14 0.35 -0.08 0.25 -0.60 1.64 1.05 1.65 1.26 0.94 1.61 4.94
OPM % 9.48% 2.31% 4.84% -1.35% 3.95% -9.09% 18.87% 11.73% 15.65% 12.55% 8.09% 11.29% 24.28%
Other Income 0.17 0.13 0.71 0.26 0.66 0.14 0.28 0.36 0.23 0.25 0.09 0.35 0.22
Interest 0.31 0.36 0.35 0.23 0.23 0.31 0.27 0.14 0.10 0.10 0.19 0.12 0.00
Depreciation 0.27 0.36 0.49 0.64 0.58 0.62 0.63 0.49 0.54 0.23 0.28 0.28 0.34
Profit before tax 0.10 -0.45 0.22 -0.69 0.10 -1.39 1.02 0.78 1.24 1.18 0.56 1.56 4.82
Tax % 70.00% -20.00% 13.64% 4.35% -10.00% 11.51% -0.98% 16.67% 24.19% 31.36% 30.36% 28.21%
Net Profit 0.03 -0.54 0.19 -0.66 0.11 -1.23 1.03 0.65 0.94 0.81 0.39 1.11 3.45
EPS in Rs 0.06 0.00 0.38 0.00 0.22 0.00 1.94 1.20 1.76 1.49 0.77 2.20
Dividend Payout % 0.00% -0.00% 0.00% -0.00% 0.00% -0.00% 24.51% 38.85% 26.86% 31.17% 64.74% 22.75%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.95%
5 Years:10.41%
3 Years:10.60%
TTM:42.81%
Compounded Profit Growth
10 Years:%
5 Years:1.69%
3 Years:6.01%
TTM:210.81%
Return on Equity
10 Years:4.22%
5 Years:9.34%
3 Years:8.71%
Last Year:11.91%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05 5.05
Reserves 3.57 3.10 3.27 2.56 2.65 1.42 2.15 2.50 3.11 3.60 3.96 4.74 7.88
Borrowings 2.64 2.63 2.10 1.85 1.59 1.84 0.67 0.40 0.18 0.07 0.02 0.00 1.00
0.54 0.70 1.07 1.10 1.05 0.89 1.39 1.34 1.60 1.21 1.10 2.08 1.85
Total Liabilities 11.80 11.48 11.49 10.56 10.34 9.20 9.26 9.29 9.94 9.93 10.13 11.87 15.78
2.11 2.64 3.26 3.32 2.95 2.67 2.24 1.95 1.83 1.90 1.88 1.86 2.99
CWIP 0.39 0.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.65 3.67 3.31 3.81 4.61
5.99 5.28 4.92 3.93 4.08 3.22 3.71 4.03 4.46 4.36 4.94 6.20 8.18
Total Assets 11.80 11.48 11.49 10.56 10.34 9.20 9.26 9.29 9.94 9.93 10.13 11.87 15.78

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
0.44 0.66 1.55 1.04 0.22 0.25 1.54 0.74 0.83 1.47 1.20 3.03
-0.60 -0.76 -0.86 -0.70 -0.21 -0.35 -0.09 -0.12 -0.74 -0.29 0.15 -3.21
0.24 0.04 -0.37 -0.34 -0.16 -0.17 -1.18 -0.45 -0.28 -0.87 -0.36 -0.32
Net Cash Flow 0.08 -0.06 0.32 0.00 -0.15 -0.27 0.27 0.17 -0.20 0.32 0.98 -0.50

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 3.96% -0.64% 5.47% -4.63% 3.52% -12.27% 15.95% 11.63% 16.45% 15.01% 8.45% 18.07%
Debtor Days 242.20 185.82 120.66 86.64 104.94 85.17 76.02 99.10 112.20 88.34 58.74 26.36
Inventory Turnover