Aplab Ltd

₹ 115 -0.58%

25 Apr 9:20 a.m.

About

Incorporated in 1962, APLAB Limited is engaged in the manufacturing & marketing of professional electronic equipment business.

Key Points

Product & Services:^[1]
a) Test and Measurement Instruments (T&M)
b) Power Conversion & Controls (PCC)
c) Power Supply Equipment (PE) and Ups System
d) Banking and Retail Automation (BA)
e) Cable Fault Locating Instruments (CFS)
f) High Power DC System
g) Design & Manufacturing Services
h) Power Energy Saver
i) Laboratory Instruments
j) Recently, the company has also diversified into Solar Power Equipment business.

Website BSE

Market Cap ₹ 128 Cr.
Current Price ₹ 115
High / Low ₹ 127 / 27.0
Stock P/E 19.4
Book Value ₹ 7.31
Dividend Yield 0.00 %
ROCE 21.6 %
ROE %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company's working capital requirements have reduced from 90.9 days to 54.2 days

Cons

Stock is trading at 15.8 times its book value
The company has delivered a poor sales growth of -3.35% over past five years.
Tax rate seems low
Company has high debtors of 188 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: Electronics Industry: Electronics - Components

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Detailed Comparison with:

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
	14.68	20.38	9.10	10.95	14.85	16.46	10.89	10.56	11.54	18.49	9.11	10.88	11.93
	13.55	18.84	8.86	12.27	12.95	10.97	12.12	11.49	10.54	11.27	8.34	9.34	11.43
Operating Profit	1.13	1.54	0.24	-1.32	1.90	5.49	-1.23	-0.93	1.00	7.22	0.77	1.54	0.50
OPM %	7.70%	7.56%	2.64%	-12.05%	12.79%	33.35%	-11.29%	-8.81%	8.67%	39.05%	8.45%	14.15%	4.19%
	0.05	1.16	0.05	0.09	0.11	-1.34	-1.44	0.07	-0.41	0.06	0.06	0.06	0.05
Interest	1.58	1.49	1.55	1.29	1.13	0.70	0.67	0.66	0.75	0.93	0.67	1.35	0.33
Depreciation	0.07	0.10	0.10	0.10	0.09	0.08	0.12	0.12	0.12	0.08	0.14	0.11	0.08
Profit before tax	-0.47	1.11	-1.36	-2.62	0.79	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.14	0.14
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-0.47	1.11	-1.35	-2.62	0.78	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.14	0.14
EPS in Rs	-0.47	1.11	-1.35	-2.62	0.78	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.13	0.13
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
	95.63	71.53	94.86	74.18	70.89	72.04	61.03	53.19	51.47	53.02	51.36	51.48	50.41
	84.82	66.40	82.20	76.93	76.44	74.36	65.02	55.68	47.45	47.75	44.42	45.27	40.38
Operating Profit	10.81	5.13	12.66	-2.75	-5.55	-2.32	-3.99	-2.49	4.02	5.27	6.94	6.21	10.03
OPM %	11.30%	7.17%	13.35%	-3.71%	-7.83%	-3.22%	-6.54%	-4.68%	7.81%	9.94%	13.51%	12.06%	19.90%
	1.07	2.27	0.93	0.71	0.82	1.55	0.38	18.50	3.42	1.32	-1.08	-1.72	0.23
Interest	8.84	8.96	10.22	10.63	11.24	11.21	10.82	8.06	6.21	6.60	5.31	3.84	3.28
Depreciation	2.32	2.14	2.78	1.76	1.62	1.56	1.44	1.29	1.02	0.38	0.38	0.45	0.41
Profit before tax	0.72	-3.70	0.59	-14.43	-17.59	-13.54	-15.87	6.66	0.21	-0.39	0.17	0.20	6.57
Tax %	0.00%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	18.77%	0.00%	0.00%	0.00%	0.00%
	0.72	-3.67	0.59	-14.43	-17.59	-13.54	-15.87	5.41	0.21	-0.39	0.17	0.20	6.57
EPS in Rs	0.72	-3.67	0.59	-14.43	-17.59	-13.54	-15.87	5.41	0.21	-0.39	0.17	0.20	6.55
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-3%
5 Years:	-3%
3 Years:	0%
TTM:	2%

Compounded Profit Growth
10 Years:	10%
5 Years:	17%
3 Years:	41%
TTM:	308%

Stock Price CAGR
10 Years:	17%
5 Years:	79%
3 Years:	123%
1 Year:	287%

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

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	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	10.00	10.00	11.09
Reserves	21.62	21.26	21.84	7.02	-10.57	-23.03	-37.54	-31.64	-31.38	-31.08	-30.76	-29.81	-2.98
	61.33	70.34	74.85	72.78	71.71	66.30	70.28	70.20	71.36	71.71	47.62	50.24	27.90
	31.55	35.03	48.83	42.05	65.49	70.61	68.55	59.67	48.54	43.90	39.54	45.08	43.44
Total Liabilities	119.50	131.63	150.52	126.85	131.63	118.88	106.29	103.23	93.52	89.53	66.40	75.51	79.45
	25.34	59.13	57.68	55.04	53.33	51.61	16.78	4.26	3.70	3.47	6.54	7.37	7.12
CWIP	0.00	1.64	0.00	0.00	0.00	0.35	0.82	2.35	3.59	3.88	1.08	0.00	0.01
Investments	2.32	2.26	2.26	0.07	0.07	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
	91.84	68.60	90.58	71.74	78.23	66.90	88.67	96.60	86.21	82.16	58.76	68.12	72.30
Total Assets	119.50	131.63	150.52	126.85	131.63	118.88	106.29	103.23	93.52	89.53	66.40	75.51	79.45

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
	-4.53	-12.31	-9.37	-3.64	-5.70	4.45	-27.50	2.32	-23.38	-1.02	18.73	-2.99
	-1.71	-3.15	0.20	2.68	0.07	-0.42	-1.57	20.69	31.67	-0.25	-0.38	0.02
	6.26	16.00	6.53	-1.67	12.05	-7.16	30.06	-23.37	-8.33	0.35	-19.10	2.62
Net Cash Flow	0.02	0.54	-2.64	-2.63	6.43	-3.13	0.99	-0.36	-0.03	-0.92	-0.75	-0.35

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	75.57	67.76	109.66	90.00	102.77	88.92	36.42	131.89	134.24	104.71	124.51	188.03
Inventory Days	361.36	484.26	288.61	275.19	152.39	102.72	168.84	184.91	301.69	243.23	300.66	285.14
Days Payable	138.72	154.91	198.46	103.01	192.21	18.98	156.27	152.70	164.50	167.18	129.08	194.05
Cash Conversion Cycle	298.21	397.12	199.81	262.18	62.95	172.66	48.99	164.11	271.42	180.76	296.09	279.12
Working Capital Days	150.38	158.59	104.54	136.44	-56.89	-126.67	165.25	205.04	177.07	173.62	44.84	54.17
ROCE %	11.60%	5.47%	11.00%	-4.08%	-8.40%	-4.91%	-11.74%	-8.51%	7.41%	13.71%	18.98%	21.64%

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
	49.06%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	59.29%	63.28%	63.28%	63.28%	63.28%
	0.00%	0.00%	0.00%	0.00%	0.00%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.05%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	50.90%	40.69%	40.69%	40.69%	40.69%	39.25%	40.70%	40.69%	36.70%	36.69%	36.71%	36.69%
No. of Shareholders	4,125	4,328	4,452	4,517	4,456	4,549	4,745	4,536	4,381	4,536	4,560	4,875

	Dec 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	59.29%	58.96%	58.97%	58.97%	58.54%	49.06%	59.29%	59.29%	63.28%
	0.02%	0.05%	0.11%	0.11%	0.11%	0.05%	0.02%	0.02%	0.02%
	40.70%	41.00%	40.92%	40.92%	41.35%	50.90%	40.69%	40.69%	36.69%
No. of Shareholders	4,745	4,083	3,937	3,875	3,831	3,902	4,517	4,536	4,875

* 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.

Click on the line-items to see the names of individual entities.

Aplab Ltd

Aplab Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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