Ajmera Realty & Infra India Ltd

About

Incorporated in 1985, Ajmera Realty and Infra Limited (ARIIL) is in the business of providing residential and rented commercial properties. The company has a presence in the cities like Mumbai, Bengaluru, Ahmedabad in India as well as in foreign countries such as Bahrain and UK [1]

Key Points

Domestic Projects
Mumbai: Ajmera i-Land, Ajmera Greenfinity, Ajmera Sikova, Bhakti Park, Other Localities [1] (Shanti, Yogi, Manish, Vijay and Shastri Nagar)
Bengaluru: Ajmera Lugaano, Ajmera Infinity, Stone Park [2]
Ahmedabad: Casa Vyoma, Enigma [3]

Read More
  • Market Cap 1,001 Cr.
  • Current Price 282
  • High / Low 430 / 97.0
  • Stock P/E 23.8
  • Book Value 193
  • Dividend Yield 0.50 %
  • ROCE 6.48 %
  • ROE 4.63 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.87% over past five years.
  • Company has a low return on equity of 7.41% for last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 188.77 days.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
109 134 95 106 49 94 40 108 121 79 135 98
69 88 62 69 32 76 27 80 91 54 101 75
Operating Profit 40 45 33 37 17 18 13 28 30 25 33 23
OPM % 36% 34% 35% 35% 34% 19% 32% 26% 25% 32% 25% 24%
Other Income 2 3 1 0 1 4 1 2 2 1 1 2
Interest 18 13 19 23 9 14 10 17 21 9 19 9
Depreciation 1 1 0 0 0 1 0 0 0 0 0 0
Profit before tax 23 34 14 14 8 7 3 12 10 16 14 15
Tax % 19% 18% 26% 13% 19% 40% 24% 26% 24% 20% 26% 23%
Net Profit 19 28 10 12 6 4 2 8 8 12 10 11
EPS in Rs 5.32 7.82 2.89 3.35 1.81 1.15 0.59 2.17 2.23 3.52 2.89 3.22

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
45 172 208 80 78 165 316 277 370 382 344 347 433
30 128 168 59 56 119 233 170 231 254 240 251 321
Operating Profit 15 43 40 21 23 45 83 107 138 127 105 95 112
OPM % 32% 25% 19% 27% 29% 27% 26% 39% 37% 33% 30% 28% 26%
Other Income 1 0 8 9 10 7 9 14 17 19 6 5 5
Interest 1 16 2 4 4 17 31 36 46 50 66 58 59
Depreciation 0 0 3 6 6 2 2 2 3 2 2 2 2
Profit before tax 14 27 44 20 23 33 59 83 106 94 43 41 56
Tax % 18% 9% 5% 18% 25% 20% 22% 21% 21% 19% 23% 23%
Net Profit 12 23 39 15 16 26 42 65 82 75 33 30 42
EPS in Rs 3.29 6.61 10.91 4.37 4.57 7.24 11.95 18.37 23.19 21.20 9.22 8.51 11.86
Dividend Payout % 33% 21% 16% 34% 33% 23% 21% 16% 14% 16% 15% 16%
Compounded Sales Growth
10 Years: 7%
5 Years: 2%
3 Years: -2%
TTM: 49%
Compounded Profit Growth
10 Years: 3%
5 Years: -7%
3 Years: -28%
TTM: 107%
Stock Price CAGR
10 Years: 10%
5 Years: 13%
3 Years: 24%
1 Year: 180%
Return on Equity
10 Years: 9%
5 Years: 10%
3 Years: 7%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
35 35 35 35 35 35 35 35 35 35 35 35 35
Reserves 302 319 366 351 361 380 414 469 527 576 603 629 651
Borrowings 132 129 192 255 333 268 334 445 515 863 968 776 672
191 86 162 239 357 492 478 466 458 406 365 457 435
Total Liabilities 660 570 755 880 1,086 1,176 1,261 1,416 1,536 1,880 1,972 1,897 1,794
138 183 240 123 119 74 72 70 69 71 76 98 102
CWIP 0 0 2 0 0 0 0 0 0 0 0 0 0
Investments 0 0 1 3 9 39 39 22 24 86 67 50 22
522 386 512 754 958 1,063 1,150 1,325 1,443 1,722 1,829 1,749 1,670
Total Assets 660 570 755 880 1,086 1,176 1,261 1,416 1,536 1,880 1,972 1,897 1,794

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
104 41 -24 -21 -71 -68 119 59 -116 -345 -18 201
-99 -25 -44 -20 -4 -10 -9 14 -4 -5 11 -9
7 -22 71 56 67 59 -98 -69 109 363 -1 -175
Net Cash Flow 12 -6 3 15 -8 -19 11 5 -11 12 -7 17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 92 14 73 72 96 41 54 171 176 184 223 189
Inventory Days 2,155 18,071 14,006
Days Payable 170 842 1,090
Cash Conversion Cycle 92 1,999 73 72 96 41 54 17,400 13,093 184 223 189
Working Capital Days 2,544 473 552 2,701 3,452 1,405 861 1,095 976 1,166 1,293 1,105
ROCE % 4% 9% 8% 4% 4% 7% 12% 14% 15% 11% 7% 6%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
67.46 70.22 74.99 74.99 74.99 67.95 67.95 67.95 69.73 69.73 69.73 69.73
0.00 0.02 0.02 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.08 0.05
0.31 0.23 0.25 0.27 0.09 0.21 0.13 0.00 0.00 0.00 0.01 0.00
32.23 29.53 24.73 24.71 24.89 31.85 31.93 32.05 30.26 30.26 30.18 30.22

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