Aptech Ltd
Aptech Ltd. is a pioneer in the non-formal education and training business in the country with a significant global presence.
It was established in 1986 and has 800 centers. It has a presence in diverse sectors ranging from IT training, media & entertainment, retail & aviation, beauty & wellness, banking & finance, and pre-school segment amongst others. It has successfully trained students, professionals, universities & corporates through its two main streams of business - Individual Training and Enterprise Business Group [1]
- Market Cap ₹ 943 Cr.
- Current Price ₹ 228
- High / Low ₹ 448 / 196
- Stock P/E 19.1
- Book Value ₹ 50.7
- Dividend Yield 2.19 %
- ROCE 23.2 %
- ROE 26.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 20.75% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 83.51%
Cons
- Stock is trading at 4.49 times its book value
- The company has delivered a poor sales growth of 1.28% over past five years.
- Tax rate seems low
- Company has a low return on equity of 11.23% for last 3 years.
* 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: Computer Education Industry: Computers - Education
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
191 | 174 | 172 | 177 | 170 | 162 | 212 | 228 | 207 | 158 | 89 | 226 | |
170 | 150 | 142 | 146 | 145 | 142 | 183 | 200 | 177 | 132 | 74 | 185 | |
Operating Profit | 21 | 24 | 29 | 31 | 25 | 20 | 29 | 28 | 29 | 26 | 15 | 41 |
OPM % | 11% | 14% | 17% | 18% | 15% | 13% | 14% | 12% | 14% | 16% | 17% | 18% |
39 | 62 | 19 | 13 | 5 | 4 | 4 | 21 | 4 | 5 | 7 | 11 | |
Interest | 3 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 2 | 0 |
Depreciation | 13 | 10 | 9 | 8 | 10 | 10 | 11 | 11 | 11 | 9 | 8 | 8 |
Profit before tax | 43 | 76 | 39 | 36 | 19 | 13 | 23 | 37 | 22 | 21 | 12 | 43 |
Tax % | 1% | 1% | 19% | 16% | 18% | 21% | 15% | 10% | 19% | 36% | -1% | -14% |
Net Profit | 45 | 76 | 31 | 30 | 16 | 10 | 19 | 33 | 18 | 14 | 12 | 49 |
EPS in Rs | 9.22 | 15.58 | 6.42 | 7.46 | 3.92 | 2.55 | 4.84 | 8.24 | 4.57 | 3.36 | 3.01 | 11.96 |
Dividend Payout % | 27% | 19% | 62% | 60% | 83% | 39% | 62% | 42% | 77% | 134% | 75% | 42% |
Compounded Sales Growth | |
---|---|
10 Years: | 3% |
5 Years: | 1% |
3 Years: | 3% |
TTM: | 155% |
Compounded Profit Growth | |
---|---|
10 Years: | -4% |
5 Years: | 21% |
3 Years: | 40% |
TTM: | 303% |
Stock Price CAGR | |
---|---|
10 Years: | 12% |
5 Years: | 3% |
3 Years: | 16% |
1 Year: | -5% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 9% |
3 Years: | 11% |
Last Year: | 26% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
49 | 49 | 49 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 41 | 41 | |
Reserves | 226 | 284 | 292 | 185 | 183 | 189 | 202 | 239 | 239 | 219 | 125 | 169 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28 | 1 | 0 | |
55 | 43 | 54 | 43 | 37 | 31 | 45 | 45 | 52 | 54 | 55 | 101 | |
Total Liabilities | 330 | 375 | 395 | 268 | 260 | 260 | 286 | 324 | 330 | 341 | 221 | 311 |
106 | 98 | 95 | 32 | 32 | 29 | 33 | 28 | 28 | 29 | 17 | 19 | |
CWIP | 1 | 3 | 3 | 1 | 2 | 3 | 3 | 3 | 2 | 1 | 1 | 0 |
Investments | 118 | 113 | 111 | 111 | 111 | 111 | 127 | 138 | 132 | 132 | 24 | 23 |
104 | 162 | 186 | 123 | 115 | 116 | 124 | 155 | 168 | 180 | 179 | 269 | |
Total Assets | 330 | 375 | 395 | 268 | 260 | 260 | 286 | 324 | 330 | 341 | 221 | 311 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
37 | 13 | 25 | 11 | 17 | 14 | 29 | 12 | 14 | -10 | 41 | 45 | |
7 | -42 | -24 | 46 | -21 | -14 | -24 | 2 | 0 | 22 | -6 | -1 | |
-36 | 0 | -0 | -60 | -1 | -0 | -0 | -14 | -17 | -18 | -24 | -6 | |
Net Cash Flow | 8 | -29 | 1 | -4 | -4 | 1 | 5 | -0 | -3 | -6 | 11 | 38 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 37 | 50 | 56 | 68 | 72 | 91 | 72 | 99 | 122 | 171 | 96 | 118 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 37 | 50 | 56 | 68 | 72 | 91 | 72 | 99 | 122 | 171 | 96 | 118 |
Working Capital Days | -36 | -6 | -22 | 12 | 18 | 37 | 37 | 68 | 85 | 188 | 153 | 80 |
ROCE % | 19% | 25% | 9% | 13% | 9% | 6% | 10% | 8% | 8% | 8% | 6% | 23% |
Documents
Announcements
- Intimation Of Schedule Of Call/ Meeting With Investor / Analyst Under Regulation 30 Of The SEBI (LODR) Regulations 2015. 13 Jun
- Intimation Of Schedule Of Call/Meeting With An Investor / Analyst Under Regulation 30 Of The SEBI (LODR) Regulations 2015 3 Jun
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 31 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - Annual Secretarial Compliance Report for the year ended March 31, 2022 issued by M/s S G & Associates, Practicing Company Secretaries.
- Intimation Of Schedule Of Call/ Meeting With Investors / Analysts Under Regulation 30 Of The SEBI (LODR) Regulations 2015 23 May
Annual reports
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Individual Training (Retail Business)- (73% of the Revenue)
Catering to individual students through a network of branded franchise centers offering in-classroom learning programs that provide skills for pre-job, job-oriented, and after-job requirements. The Company offers its training programs directed at different verticals and target customer segments through 6 retail brands. Its learning centers are present in nearly 40 countries worldwide, with a leadership position in many markets. [1]
The system-wide collection from students for the franchise business in the Retail segment was Rs. 425 Cr in FY19 and went up to Rs. 465 Cr in FY20. (Domestic Retail was 75% and for International Retail was 25%) [2]
The Company operates through the franchise-based business model. Its asset-light nature, scalability, and replicability are the main reason for the choice. [3]