ARSS Infrastructure Projects Ltd

₹ 20.8 5.25%

28 Sep 10:15 a.m.

arssgroup.in BSE: 533163 NSE - BE : ARSSINFRA

About

Incorporated in 2000, ARSS Infrastructure Projects Ltd is in the business of project execution for various civil and infrastructure projects

Key Points

Business Overview:^[1]
Company is engaged in construction activities
with expertise in railway construction projects, including earthworks, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks, etc., and other construction segments such as development and construction of roads, highways, bridges, irrigation projects, EPC activities for railways

Website BSE NSE - BE

Market Cap ₹ 47.4 Cr.
Current Price ₹ 20.8
High / Low ₹ 28.2 / 16.4
Stock P/E
Book Value ₹ -52.3
Dividend Yield 0.00 %
ROCE 0.58 %
ROE %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company's working capital requirements have reduced from 182 days to 136 days

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -7.18% over past five years.
Contingent liabilities of Rs.196 Cr.

* 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

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	41	48	67	92	59	54	52	123	72	66	107	157	73
	39	57	122	102	81	73	54	203	74	70	109	159	90
Operating Profit	3	-9	-55	-10	-22	-19	-2	-80	-2	-4	-2	-1	-17
OPM %	7%	-19%	-82%	-11%	-37%	-35%	-3%	-65%	-2%	-5%	-2%	-1%	-23%
	4	7	7	16	2	5	5	5	2	8	3	5	1
Interest	1	1	1	0	0	1	0	1	0	0	0	0	0
Depreciation	5	5	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	0	-8	-49	6	-20	-15	3	-77	0	4	1	3	-16
Tax %	-185%	9%	-1%	10%	-3%	-5%	13%	-1%	530%	13%	97%	18%	-3%
	1	-7	-49	5	-20	-16	3	-78	-0	3	0	2	-16
EPS in Rs	0.49	-3.11	-21.55	2.18	-9.00	-6.83	1.20	-34.09	-0.19	1.51	0.01	1.05	-7.12
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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
	1,166	761	883	639	613	837	584	459	289	248	289	403	403
	1,004	660	682	438	427	1,071	522	449	318	318	411	411	427
Operating Profit	162	100	200	201	186	-234	62	10	-29	-69	-122	-8	-24
OPM %	14%	13%	23%	31%	30%	-28%	11%	2%	-10%	-28%	-42%	-2%	-6%
	14	9	-1	8	21	12	-76	25	65	32	16	18	17
Interest	162	134	163	167	165	81	41	29	5	2	2	1	0
Depreciation	38	36	35	37	36	33	24	22	21	11	1	1	1
Profit before tax	-24	-60	1	5	6	-336	-79	-17	10	-51	-108	8	-8
Tax %	-24%	-8%	-16%	-13%	19%	1%	30%	33%	19%	-4%	-2%	29%
	-30	-65	2	6	5	-332	-55	-11	8	-53	-111	5	-10
EPS in Rs	-19.95	-43.51	1.13	4.19	3.38	-223.41	-24.09	-4.93	3.51	-23.16	-48.72	2.38	-4.55
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-6%
5 Years:	-7%
3 Years:	12%
TTM:	34%

Compounded Profit Growth
10 Years:	8%
5 Years:	-32%
3 Years:	30%
TTM:	89%

Stock Price CAGR
10 Years:	0%
5 Years:	-4%
3 Years:	16%
1 Year:	-6%

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
	15	30	30	30	30	15	23	23	23	23	23	23
Reserves	404	339	341	347	352	22	19	8	16	-36	-147	-142
	1,117	1,379	1,588	1,697	1,864	1,703	1,681	1,690	1,645	1,628	1,627	1,625
	356	327	311	236	173	105	85	114	86	79	93	93
Total Liabilities	1,892	2,060	2,255	2,295	2,404	1,845	1,809	1,835	1,771	1,694	1,596	1,600
	429	391	336	277	266	207	87	63	41	32	35	37
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	54	43	44	46	39	42	42	45	56	33	32	32
	1,410	1,626	1,874	1,972	2,099	1,597	1,680	1,726	1,673	1,629	1,528	1,531
Total Assets	1,892	2,060	2,255	2,295	2,404	1,845	1,809	1,835	1,771	1,694	1,596	1,600

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
	-68	117	128	133	188	-150	21	692	-37	-8	-2	8
	5	-0	17	29	-18	26	15	7	-12	19	-4	-3
	10	-119	-163	-167	-165	122	12	-686	-8	-2	0	0
Net Cash Flow	-54	-2	-18	-5	5	-2	49	13	-58	8	-6	4

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	100	112	98	138	161	36	32	59	18	33	13	11
Inventory Days	833	829	813	1,648	1,565	34	161	173	501	60	94	205
Days Payable	0	108	155	247	154	28	130	139	213	72	74	164
Cash Conversion Cycle	934	833	756	1,539	1,572	41	63	93	305	21	33	51
Working Capital Days	275	576	391	474	459	236	96	130	251	236	175	136
ROCE %	10%	5%	9%	9%	8%	-13%	3%	1%	-2%	-4%	-7%	1%

Shareholding Pattern

Numbers in percentages

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%
	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%
No. of Shareholders	16,728	16,358	16,171	16,174	16,072	16,244	16,923	16,889	16,682	16,366	15,898	15,791

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Jun 2023
	18.36%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%
	0.58%	0.41%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%
	81.06%	52.89%	52.89%	53.29%	53.30%	53.30%	53.30%	53.30%
No. of Shareholders	21,152	19,303	17,428	16,817	16,171	16,923	15,898	15,791

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Rating update
19 Nov 2013 from crisil