AJR Infra & Tolling Ltd

₹ 0.70 0.00%

03 Oct 2023

ajrinfra.in BSE: 532959 NSE - BZ : AJRINFRA

About

Incorporated in 2011, AJR Infra And Tolling Ltd develops infrastructure projects on a Public-Private Partnership basis^[1]

Key Points

Business Overview:^[1]
AJRITL is an infrastructure project development company incorporated by Gammon India Limited, to participate in development of infrastructure projects on a public private partnership (PPP) basis. It has investments across various sectors viz. Roads & Expressways, Ports, HydroPower, Urban infrastructure, Airports, Special Economic Zones, Water and Wastewater management, Railways, Power Transmission lines, and Agricultural Infrastructure

Website BSE NSE - BZ

Market Cap ₹ 65.9 Cr.
Current Price ₹ 0.70
High / Low ₹ 0.81 / 0.50
Stock P/E
Book Value ₹ -26.3
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 2.00

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Pros

Company is expected to give good quarter

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -32.0% over past five years.
Promoter holding is low: 20.6%
Contingent liabilities of Rs.1,769 Cr.
Promoters have pledged 100% of their holding.
Earnings include an other income of Rs.25.2 Cr.
Company has high debtors of 182 days.
Company's cost of borrowing seems high

* 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: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	70	81	62	63	41	12	12	12	16	51	12	13	17
	43	50	34	50	35	8	8	8	9	76	5	8	26
Operating Profit	27	31	28	13	6	4	4	4	7	-25	7	5	-9
OPM %	38%	39%	45%	20%	15%	31%	31%	34%	42%	-48%	57%	40%	-52%
	2	4	16	3	4	-692	-1,272	2	2	8	5	5	7
Interest	65	65	66	69	64	62	66	70	71	73	75	79	81
Depreciation	22	22	22	22	15	12	13	13	13	12	13	13	13
Profit before tax	-58	-52	-44	-76	-69	-763	-1,347	-76	-76	-102	-76	-81	-96
Tax %	-8%	-53%	-4%	-3%	-2%	-0%	-0%	-1%	-1%	-2%	-1%	-1%	-1%
	-63	-79	-46	-77	-70	-764	-1,348	-77	-76	-104	-77	-82	-96
EPS in Rs	-0.59	-0.64	-0.40	-0.73	-0.65	-8.02	-14.22	-0.71	-0.71	-0.98	-0.71	-0.76	-0.91
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Dec 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	423	690	454	542	1,577	663	625	497	368	242	178	91	94
	193	222	175	199	996	423	380	298	179	155	102	101	115
Operating Profit	230	468	279	343	581	240	245	199	189	87	76	-10	-21
OPM %	54%	68%	62%	63%	37%	36%	39%	40%	51%	36%	43%	-11%	-23%
	-7	7	4	-30	-7	25	13	6	347	12	-695	-1,260	25
Interest	156	297	219	207	644	309	340	361	383	255	261	281	308
Depreciation	78	161	120	168	100	50	87	109	126	89	71	51	51
Profit before tax	-11	17	-55	-61	-170	-94	-170	-265	27	-245	-951	-1,601	-355
Tax %	-110%	-42%	-2%	35%	-24%	-29%	-9%	21%	46%	-13%	-1%	-0%
	-22	25	-56	-40	-204	-122	-186	-210	15	-277	-957	-1,605	-359
EPS in Rs	-0.34	0.20	-0.77	-0.43	-2.18	-1.10	-1.55	-1.65	0.71	-2.48	-9.80	-16.62	-3.36
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-18%
5 Years:	-32%
3 Years:	-37%
TTM:	79%

Compounded Profit Growth
10 Years:	%
5 Years:	-29%
3 Years:	4%
TTM:	4%

Stock Price CAGR
10 Years:	-23%
5 Years:	1%
3 Years:	3%
1 Year:	-18%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Dec 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	147	148	148	188	189	189	189	189	189	189	189	189	189
Reserves	598	565	523	763	568	464	319	165	232	-1	-924	-2,528	-2,666
	3,628	4,018	4,127	3,907	2,513	2,675	3,142	1,636	518	615	20	174	203
	408	519	707	4,697	1,453	1,554	1,964	2,852	2,936	2,969	3,198	3,470	3,592
Total Liabilities	4,781	5,251	5,505	9,555	4,724	4,883	5,614	4,843	3,875	3,772	2,483	1,305	1,318
	2,029	2,603	2,495	6,229	2,242	2,197	2,869	2,076	1,151	1,067	722	565	607
CWIP	2,163	2,057	2,457	2,653	585	809	1,009	1,025	1,077	1,075	159	67	0
Investments	1	4	24	34	86	184	45	45	490	490	602	319	315
	588	586	528	639	1,811	1,693	1,690	1,697	1,157	1,140	1,000	354	396
Total Assets	4,781	5,251	5,505	9,555	4,724	4,883	5,614	4,843	3,875	3,772	2,483	1,305	1,318

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Dec 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	240	361	408	416	256	416	374	278	363	100	53	79
	-1,003	-609	-409	-382	118	-441	-48	-60	-20	8	18	-26
	846	85	20	-71	-349	-21	-306	-257	-347	-97	-87	-51
Net Cash Flow	83	-163	18	-37	25	-46	20	-39	-4	11	-16	2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Dec 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	29	20	14	13	15	197	108	192	62	82	97	182
Inventory Days										112	7	360
Days Payable										4,095	6,010	951
Cash Conversion Cycle	29	20	14	13	15	197	108	192	62	-3,901	-5,905	-409
Working Capital Days	-451	-186	-516	-436	-62	71	-470	-1,429	-2,393	-3,845	-6,441	-13,773
ROCE %	4%	7%	3%	4%	13%	6%	5%	4%	6%	1%

Shareholding Pattern

Numbers in percentages

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%
	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%	10.21%
	7.17%	7.17%	7.17%	7.17%	7.17%	7.17%	7.18%	7.18%	17.96%	7.18%	7.18%	7.18%
	62.02%	62.02%	62.02%	62.02%	62.02%	62.02%	62.02%	62.01%	51.24%	62.01%	62.01%	62.01%
No. of Shareholders	80,832	93,690	96,927	1,02,686	1,27,800	1,25,241	1,24,247	1,22,551	1,20,873	1,20,176	1,19,247	1,19,130

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Dec 2023
	58.44%	38.54%	20.60%	20.60%	20.60%	20.60%	20.60%	20.60%
	5.52%	1.45%	1.09%	1.09%	10.21%	10.21%	10.21%	10.21%
	14.36%	11.15%	19.96%	18.43%	7.17%	7.17%	17.96%	7.18%
	21.68%	48.86%	58.35%	59.88%	62.02%	62.02%	51.24%	62.01%
No. of Shareholders	51,067	66,822	70,188	70,702	80,832	1,27,800	1,20,873	1,19,130

* 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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AJR Infra & Tolling Ltd

AJR Infra & Tolling Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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