Advait Infratech Ltd

Advait Infratech Ltd

₹ 1,954 -0.51%
12 Jul - close price
About

Advait Infratech Ltd is engaged in the business of providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also it operates with various verticals such as Turnkey Telecommunication Projects, Installation of the Power Transmission, Sub Station and Telecom Products, etc [1]

Key Points

Products & Services
Manufactured Products: Aluminium Clad Steel Wires, Emergency Restoration System, Stringing tools, OPGW and Optical Fibre Cables.
Traded products: Insulators, Earthing Solutions, Towers, Bird Diverters, GIS substation, Carbon Core Conductors.
Services: Live Line OPGW Installation, trading end to end, Liaising, Marketing and Transportation, Optical Fibre and FOTE.
The company has expanded its product portfolio by manufacturing OPGW (Optical Fibre Ground Wire) and OFC Cables. [1]

Revenue Mix
Sale of goods: 76% in FY21 82% in FY20
Supply of Service: 24% in FY21 vs 18% in FY20 [2]

Clients
The clients of the co. are in Central and States Transmission Companies, major EPC companies of India and Overseas, Private Power/Transmission Utilities etc. [3]

JV
Advait Infratech Ltd has made a joint venture agreement with the Council of Scientific and Industrial Research (CSIR), New Delhi for the transfer of CSIR-SERC technology on the “Emergency Retrieval System”. [4]

Expansion
The co. was approved for setting up a new manufacturing plant for power transmission lines. The outlay of the project is approved for Rs. 2 crores and the start of production is expected from June 2021. [5]
The co. is also planning to set up a new factory for Stringing Tools, Joint Box and ERS Manufacturing and assembly utility, the plant will produce Tools, Joint Box Locally. [4]

Loan
Advait Infratech Ltd has executed a Loan Agreement in November 2021 with the State Bank of India for availing Fund Based & Non-Fund Based Credit Facility, the fund will be used for establishing a new plant for ACS. [6]

Listing of Equity shares in FY21
The Co came up with an initial public issue of 13.5 lac equity shares of Rs. 51 each aggregating to the total of Rs. 6.88 Cr and the shares of the company have been listed on the SME platform of BSE on 28th September 2020. [4]

  • Market Cap 1,995 Cr.
  • Current Price 1,954
  • High / Low 2,045 / 345
  • Stock P/E 93.5
  • Book Value 73.0
  • Dividend Yield 0.00 %
  • ROCE 40.0 %
  • ROE 34.0 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 47.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.1%
  • Debtor days have improved from 120 to 70.2 days.
  • Company's median sales growth is 41.0% of last 10 years

Cons

  • Stock is trading at 26.8 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

* 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

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
27.94 25.35 40.65 27.24 47.98 72.51 59.71
23.89 19.95 34.48 23.83 39.89 60.37 48.75
Operating Profit 4.05 5.40 6.17 3.41 8.09 12.14 10.96
OPM % 14.50% 21.30% 15.18% 12.52% 16.86% 16.74% 18.36%
0.36 -0.06 0.52 0.20 0.34 0.71 1.24
Interest 0.59 0.73 0.99 1.12 1.37 2.09 2.00
Depreciation 0.65 0.33 0.72 0.37 0.41 0.44 0.53
Profit before tax 3.17 4.28 4.98 2.12 6.65 10.32 9.67
Tax % 23.34% 23.13% 24.70% 31.13% 24.96% 25.10% 25.96%
2.44 3.30 3.75 1.46 4.98 7.73 7.16
EPS in Rs 2.39 3.24 3.68 1.43 4.88 7.58 7.02
Raw PDF

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
6 39 11 11 29 43 28 40 58 72 102 207
5 44 14 10 23 36 24 35 52 62 84 173
Operating Profit 1 -5 -3 1 6 7 4 5 6 10 17 35
OPM % 12% -13% -31% 12% 21% 16% 15% 13% 11% 13% 17% 17%
0 9 5 1 1 2 0 2 1 1 1 2
Interest 0 0 0 0 0 0 0 1 1 1 2 7
Depreciation 0 0 0 0 0 0 0 0 0 0 3 2
Profit before tax 1 4 2 2 7 9 4 6 7 10 14 29
Tax % 28% 32% 32% 32% 33% 26% 27% 27% 27% 26% 26% 26%
1 3 1 1 4 6 3 4 5 7 10 21
EPS in Rs 3.80 5.85 4.73 6.99 9.80 20.91
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 13% 11% 7% 0% 0%
Compounded Sales Growth
10 Years: 18%
5 Years: 49%
3 Years: 53%
TTM: 104%
Compounded Profit Growth
10 Years: 24%
5 Years: 48%
3 Years: 64%
TTM: 112%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 307%
1 Year: 394%
Return on Equity
10 Years: 26%
5 Years: 24%
3 Years: 26%
Last Year: 34%

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 0 0 0 0 0 0 4 4 5 5 10 10
Reserves 1 4 5 6 10 17 16 20 30 36 41 64
0 0 2 0 1 1 1 2 0 6 13 38
1 7 6 8 12 16 16 14 16 23 43 53
Total Liabilities 2 11 12 14 23 33 37 41 51 71 108 165
0 1 1 1 2 2 2 2 2 3 18 27
CWIP 0 0 0 0 0 0 0 0 0 13 1 1
Investments 0 1 1 4 9 15 11 11 11 11 11 12
1 10 10 9 12 16 23 28 38 44 78 125
Total Assets 2 11 12 14 23 33 37 41 51 71 108 165

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
0 0 0 0 0 0 0 2 -1 7 13 -9
0 0 0 0 0 0 0 0 0 -14 -6 -7
0 0 0 0 0 0 0 -0 5 4 2 18
Net Cash Flow 0 0 0 0 0 0 1 2 4 -3 9 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 30 44 160 73 104 98 133 93 115 129 161 70
Inventory Days 0 0 97 12 7 14 30 30 44 58 61
Days Payable 285 169 153 139 195 134 148 194 132
Cash Conversion Cycle 30 44 160 -115 -54 -48 8 -72 10 25 24 -1
Working Capital Days 13 33 204 88 43 24 61 38 63 55 48 73
ROCE % 70% 152% 37% 28% 79% 63% 23% 27% 23% 25% 29% 40%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Dec 2023Mar 2024Jul 2024
73.52% 73.52% 73.52% 73.52% 73.52% 73.53% 73.53% 73.53% 73.53% 69.44%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01%
26.48% 26.48% 26.48% 26.48% 26.48% 26.46% 26.48% 26.48% 26.48% 30.54%
No. of Shareholders 3681951792902995084,1656,32511,92616,925

* 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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