Alpine Housing Development Corporation Ltd

₹ 155 -2.48%

25 Apr 4:01 p.m.

About

Incorporated in 1992, Alpine Housing Development Corporation Ltd is in the business of Property development, Construction and Railway Concrete Sleepers SG & Grey Iron Castings^[1]

Key Points

Projects Undertaken:^[1]^[2]
a) Alpine Vistula
b) Alpine Tulip
c) Alpine Apartments
d) Alpine Park
e) Alpine View
f) Alpine Arch
g) Alpine Court
h) Alpine Regency
i) Alpine Place
j) Alpine Point
k) Alpine Annexe
l) Alpine Kensington
m) Alpine Fiesta
n) Alpine Pyramid
o) Alpine Viva
p) Alpine Eco

Website BSE

Market Cap ₹ 269 Cr.
Current Price ₹ 155
High / Low ₹ 201 / 99.5
Stock P/E 72.4
Book Value ₹ 44.7
Dividend Yield 0.00 %
ROCE 4.64 %
ROE 3.24 %
Face Value ₹ 10.0

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Pros

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

Cons

Stock is trading at 3.47 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of 9.53% over past five years.
Company has a low return on equity of 3.40% over last 3 years.
Company might be capitalizing the interest cost
Company has high debtors of 271 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.

Peer comparison

Sector: Construction Industry: Construction

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	15.28	7.79	10.94	16.23	10.52	11.67	10.07	8.69	18.36	16.45	13.45	12.27
	13.36	6.45	9.34	14.59	9.45	10.81	9.19	7.13	15.92	15.17	11.61	10.61
Operating Profit	1.92	1.34	1.60	1.64	1.07	0.86	0.88	1.56	2.44	1.28	1.84	1.66
OPM %	12.57%	17.20%	14.63%	10.10%	10.17%	7.37%	8.74%	17.95%	13.29%	7.78%	13.68%	13.53%
	-0.01	0.00	-0.01	0.00	0.00	-0.03	-0.01	0.00	0.00	0.00	0.00	0.00
Interest	0.51	0.52	0.71	0.71	0.61	0.57	0.56	0.59	0.45	0.49	0.53	0.47
Depreciation	0.18	0.14	0.14	0.14	0.14	0.19	0.19	0.19	0.19	0.14	0.17	0.31
Profit before tax	1.22	0.68	0.74	0.79	0.32	0.07	0.12	0.78	1.80	0.65	1.14	0.88
Tax %	23.77%	13.24%	18.92%	15.19%	28.12%	-42.86%	-16.67%	16.67%	17.78%	4.62%	24.56%	14.77%
	0.93	0.58	0.60	0.67	0.23	0.10	0.14	0.65	1.48	0.62	0.86	0.75
EPS in Rs	0.54	0.33	0.35	0.39	0.13	0.06	0.08	0.38	0.85	0.36	0.50	0.43
Raw PDF

Profit & Loss

Figures in Rs. Crores

	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
	18.65	30.72	39.19	16.41	23.99	27.70	30.25	30.96	40.54	42.16	44.89	47.68	60.53
	16.39	28.81	36.78	14.51	18.48	23.01	25.37	25.17	34.50	36.38	39.85	43.06	53.31
Operating Profit	2.26	1.91	2.41	1.90	5.51	4.69	4.88	5.79	6.04	5.78	5.04	4.62	7.22
OPM %	12.12%	6.22%	6.15%	11.58%	22.97%	16.93%	16.13%	18.70%	14.90%	13.71%	11.23%	9.69%	11.93%
	0.85	1.37	1.06	1.27	1.18	1.04	1.43	1.21	1.33	0.98	0.60	1.08	0.00
Interest	0.99	0.88	0.67	0.54	0.62	1.15	1.85	2.44	2.71	2.63	2.55	2.17	1.94
Depreciation	1.02	1.01	1.10	1.10	0.84	0.86	0.71	0.80	0.79	0.70	0.56	0.75	0.81
Profit before tax	1.10	1.39	1.70	1.53	5.23	3.72	3.75	3.76	3.87	3.43	2.53	2.78	4.47
Tax %	20.00%	19.42%	12.35%	6.54%	22.56%	18.55%	16.53%	21.54%	14.99%	16.91%	17.79%	14.39%
	0.88	1.12	1.49	1.44	4.05	3.03	3.13	2.96	3.29	2.84	2.08	2.38	3.71
EPS in Rs	0.51	0.64	0.86	0.83	2.34	1.75	1.81	1.71	1.90	1.64	1.20	1.37	2.14
Dividend Payout %	0.00%	58.04%	43.62%	45.14%	19.24%	21.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	4%
5 Years:	10%
3 Years:	6%
TTM:	48%

Compounded Profit Growth
10 Years:	6%
5 Years:	-4%
3 Years:	-11%
TTM:	223%

Stock Price CAGR
10 Years:	32%
5 Years:	60%
3 Years:	123%
1 Year:	42%

Return on Equity
10 Years:	4%
5 Years:	4%
3 Years:	3%
Last Year:	3%

Balance Sheet

Figures in Rs. Crores

	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	6.50	6.50	6.50	6.50	12.99	12.99	12.99	17.32	17.32	17.32	17.32	17.32	17.32
Reserves	45.71	46.07	46.80	47.45	44.01	47.04	49.39	48.02	51.32	54.16	56.24	58.62	60.10
	59.22	55.70	26.23	38.87	41.20	52.96	67.99	59.48	44.44	41.35	44.19	21.56	20.96
	20.13	16.90	40.73	42.00	62.41	61.50	59.71	66.12	71.75	53.43	39.97	48.11	40.23
Total Liabilities	131.56	125.17	120.26	134.82	160.61	174.49	190.08	190.94	184.83	166.26	157.72	145.61	138.61
	9.90	8.93	14.72	14.48	14.82	14.20	12.52	12.21	11.92	11.43	11.22	10.68	11.47
CWIP	0.75	0.75	0.77	0.87	0.02	0.02	0.00	0.00	0.00	0.07	0.00	0.00	0.00
Investments	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.11	0.13	0.15
	120.87	115.45	104.73	119.43	145.73	160.23	177.52	178.69	172.87	154.72	146.39	134.80	126.99
Total Assets	131.56	125.17	120.26	134.82	160.61	174.49	190.08	190.94	184.83	166.26	157.72	145.61	138.61

Cash Flows

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-12.08	2.63	37.12	-12.22	0.96	-14.50	-14.67	9.90	14.42	4.29	-1.95	20.84
	-0.04	0.01	-6.90	-0.78	-0.21	-0.21	1.15	-0.03	-0.91	-0.05	0.17	0.13
	12.40	-3.17	-30.08	12.94	2.90	11.62	14.94	-8.84	-15.04	-4.17	1.60	-22.39
Net Cash Flow	0.28	-0.53	0.14	-0.07	3.64	-3.08	1.42	1.03	-1.53	0.06	-0.18	-1.41

Ratios

Figures in Rs. Crores

	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	686.36	341.59	135.61	468.43	193.23	186.45	178.58	154.32	180.70	229.25	260.76	271.30
Inventory Days		4,077.82	1,072.76				7,426.49	7,694.28	2,267.13	2,170.96	1,501.80	1,028.80
Days Payable		363.68	210.69				364.37	308.40	130.79	39.94	37.26	38.13
Cash Conversion Cycle	686.36	4,055.73	997.68	468.43	193.23	186.45	7,240.70	7,540.21	2,317.04	2,360.27	1,725.30	1,261.97
Working Capital Days	1,899.57	1,148.23	570.74	1,673.31	1,192.53	1,263.27	1,373.00	1,263.47	874.69	831.81	768.13	586.62
ROCE %	1.91%	2.29%	2.80%	2.40%	6.25%	4.62%	4.50%	4.87%	5.69%	5.39%	4.41%	4.64%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	73.72%	73.69%	73.69%	73.69%	73.69%	73.69%	73.69%	73.69%	73.66%	73.85%	73.86%	73.86%
	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%
	26.07%	26.10%	26.10%	26.10%	26.10%	26.10%	26.11%	26.11%	26.13%	25.94%	25.93%	25.93%
No. of Shareholders	3,588	3,646	3,607	3,689	3,831	3,971	3,849	3,801	3,870	3,879	3,983	4,003

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	73.60%	73.25%	73.54%	73.75%	73.77%	73.69%	73.69%	73.86%
	0.44%	0.44%	0.44%	0.22%	0.22%	0.21%	0.21%	0.21%
	25.97%	26.31%	26.02%	26.03%	26.01%	26.10%	26.11%	25.93%
No. of Shareholders	4,098	4,076	4,217	4,182	4,111	3,689	3,801	4,003

* 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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Alpine Housing Development Corporation Ltd

Alpine Housing Development Corporation Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports