Avantel Ltd

Avantel Ltd

₹ 110 -2.66%
21 Feb - close price
About

Avantel Limited is engaged in the business of designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications for its customers majorly from the aerospace and defence sectors. [1]

Key Points

Services
SATCOM: The Co develops customized solutions for INSAT based Mobile satellite services with advanced technologies for Military applications. It has developed a unique, real time and cost effective solution for position determination and location transmission of the rolling stock for Indian railways.
Wireless: The Co develops radar subsystems in the frequency band of 30MHz and 53 MHz, software controlled radios in V/UHF frequency band for voice and data communication for military applications, and building blocks of the radios which includes RF Front-end units,Synthesizers etc.
Software: The Co develops Embedded Systems, provides Electronic Design Services, Visual Simulation & GIS Services, Application Development and also creates Multimedia Solutions. [1]

  • Market Cap 2,670 Cr.
  • Current Price 110
  • High / Low 140 / 24.2
  • Stock P/E 50.5
  • Book Value 5.58
  • Dividend Yield 0.06 %
  • ROCE 37.1 %
  • ROE 30.7 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%

Cons

  • Stock is trading at 19.7 times its book value
  • Working capital days have increased from 151 days to 224 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.

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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
25 29 14 15 29 47 27 36 39 52 69 54 59
18 22 9 10 21 37 19 26 27 33 54 29 34
Operating Profit 7 7 5 5 8 10 8 11 12 19 15 26 25
OPM % 28% 26% 34% 33% 28% 21% 29% 29% 31% 36% 22% 47% 42%
0 0 0 0 0 1 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 1 1 2 2 1 2 1
Depreciation 1 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 6 7 4 4 7 9 6 8 9 16 12 23 23
Tax % 18% 15% 18% 18% 18% 21% 18% 18% 19% 35% 28% 27% 25%
5 6 3 4 6 7 5 7 8 11 9 17 17
EPS in Rs 0.20 0.23 0.13 0.14 0.23 0.29 0.21 0.28 0.31 0.43 0.36 0.69 0.70
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
26 43 13 25 25 34 52 51 52 78 105 154 235
20 33 11 21 21 30 40 36 37 56 77 105 150
Operating Profit 6 10 2 4 4 4 11 14 15 22 28 49 84
OPM % 24% 24% 15% 16% 16% 11% 22% 28% 30% 29% 26% 32% 36%
0 0 0 1 0 1 15 1 1 1 1 0 1
Interest 0 1 1 2 2 2 1 1 1 2 2 5 5
Depreciation 1 1 2 2 2 2 2 2 3 3 4 5 6
Profit before tax 5 8 -1 1 1 1 24 12 13 18 24 40 74
Tax % 16% 20% 10% 26% 9% 16% 28% 23% 17% 17% 19% 25%
4 7 -1 1 1 1 17 10 11 15 19 30 53
EPS in Rs 0.15 0.24 -0.04 0.04 0.02 0.04 0.71 0.39 0.44 0.63 0.79 1.23 2.18
Dividend Payout % 23% 17% 0% 68% 69% 92% 9% 21% 15% 11% 8% 5%
Compounded Sales Growth
10 Years: 14%
5 Years: 24%
3 Years: 44%
TTM: 58%
Compounded Profit Growth
10 Years: 17%
5 Years: 36%
3 Years: 41%
TTM: 100%
Stock Price CAGR
10 Years: 64%
5 Years: 95%
3 Years: 148%
1 Year: 306%
Return on Equity
10 Years: 22%
5 Years: 27%
3 Years: 28%
Last Year: 31%

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 4 4 4 4 4 4 4 4 4 4 4 16 16
Reserves 14 19 17 16 16 17 33 39 48 62 80 96 119
3 4 11 9 9 10 0 0 0 3 16 30 20
4 5 3 3 3 3 6 4 15 17 11 12 28
Total Liabilities 25 33 34 32 32 34 43 47 67 87 110 154 183
9 16 15 14 13 13 12 12 14 16 25 26 27
CWIP 3 0 0 0 0 0 0 0 0 1 7 9 12
Investments 0 0 0 0 0 0 0 0 0 0 5 12 13
14 17 18 18 19 21 31 36 53 70 73 108 132
Total Assets 25 33 34 32 32 34 43 47 67 87 110 154 183

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
6 8 -2 4 4 2 9 4 3 45 -30 4
-4 -6 -1 0 -1 -2 4 -1 0 -42 20 -13
-3 -1 2 -4 -2 -0 -12 -4 -3 -3 9 8
Net Cash Flow -0 1 -1 0 0 -0 1 -0 0 0 -1 0

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 100 99 121 67 61 105 63 139 208 62 126 94
Inventory Days 284 22 459 551 190 122 62 139 34 130 257
Days Payable 39 5 20 14 12 38 4 43 4 5 17
Cash Conversion Cycle 346 116 121 505 597 282 147 197 305 91 251 334
Working Capital Days 132 80 387 191 204 172 101 154 217 24 206 224
ROCE % 25% 38% 0% 9% 9% 9% 29% 33% 29% 33% 30% 37%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
40.36% 40.36% 40.14% 40.14% 40.14% 40.14% 40.14% 40.14% 40.14% 40.10% 40.10% 40.10%
0.00% 0.00% 0.39% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.01% 0.01%
59.64% 59.64% 59.47% 59.86% 59.86% 59.86% 59.86% 59.87% 59.86% 59.88% 59.89% 59.89%
No. of Shareholders 6,4106,9187,8877,9768,00411,58913,60916,12116,42821,61447,13582,759

* 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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