Arvind SmartSpaces Ltd

₹ 214 8.10%
18 Aug - close price
About

Arvind Smarspaces Ltd was incorporated as "Arvind Infrastructure Limited" in 2008 in Ahmedabad as a wholly-owned subsidiary of Arvind Limited. The company was incorporated with the objective of doing a real estate/infrastructure development business.
Arvind Smartspaces is the real estate arm of the Lalbhai Group, a $2 billion dollar conglomerate. ASL is currently executing 9 projects through its own land, JVs and Joint Development model. ASL has also successfully executed 9 projects to date. [1]

Key Points

Product Offerings
Its residential projects comprising villas, apartments and plots are targeted towards middle income and high-income customers. The company’s existing integrated townships comprise amenities with villas, apartments, retail, commercial and recreational areas. It also undertakes commercial and industrial projects on a selective basis. They mainly operate in three cities of India - Ahmedabad, Bengaluru & Pune. [1]

  • Market Cap 907 Cr.
  • Current Price 214
  • High / Low 258 / 112
  • Stock P/E 30.8
  • Book Value 96.0
  • Dividend Yield 0.00 %
  • ROCE 11.8 %
  • ROE 7.04 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.1% over past five years.
  • Company has a low return on equity of 7.96% for last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -5.58%

* 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: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
36.55 33.39 94.24 135.31 10.54 29.77 44.45 64.49 26.95 25.72 42.94 161.13 60.26
26.22 22.18 55.10 107.36 8.38 20.70 30.01 49.54 18.73 18.92 30.93 139.88 49.49
Operating Profit 10.33 11.21 39.14 27.95 2.16 9.07 14.44 14.95 8.22 6.80 12.01 21.25 10.77
OPM % 28.26% 33.57% 41.53% 20.66% 20.49% 30.47% 32.49% 23.18% 30.50% 26.44% 27.97% 13.19% 17.87%
0.26 1.09 0.30 0.56 0.23 0.31 0.23 1.12 1.25 1.94 2.00 2.50 1.77
Interest 5.33 6.70 6.06 6.25 6.85 6.90 6.73 6.39 6.18 5.02 4.37 1.27 1.62
Depreciation 0.29 0.29 0.27 0.25 0.28 0.35 0.25 0.25 0.29 0.32 0.33 0.56 0.58
Profit before tax 4.97 5.31 33.11 22.01 -4.74 2.13 7.69 9.43 3.00 3.40 9.31 21.92 10.34
Tax % 44.67% 46.14% 37.06% 33.21% -4.22% 6.57% 30.69% 29.37% 24.33% 30.88% 36.31% 35.04% 28.43%
Net Profit 2.56 2.57 19.45 14.73 -4.83 1.97 5.04 6.57 2.50 2.69 5.92 13.95 7.24
EPS in Rs 0.72 0.72 5.47 4.14 -1.36 0.55 1.42 1.85 0.70 0.76 1.40 3.29 1.71

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
87 115 159 198 262 299 149 257 290
62 80 114 137 194 211 109 208 239
Operating Profit 25 35 44 61 68 89 41 49 51
OPM % 29% 31% 28% 31% 26% 30% 27% 19% 18%
0 2 1 4 2 2 2 7 8
Interest 8 9 12 15 21 24 27 17 12
Depreciation 0 1 1 1 1 1 1 2 2
Profit before tax 17 27 32 48 48 65 14 38 45
Tax % 39% 38% 33% 35% 35% 37% 38% 34%
Net Profit 11 17 20 30 31 39 9 25 30
EPS in Rs 10.56 6.66 7.14 9.47 8.70 11.06 2.46 5.90 7.16
Dividend Payout % 0% 0% 0% 0% 17% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: -1%
TTM: 75%
Compounded Profit Growth
10 Years: %
5 Years: 4%
3 Years: -7%
TTM: 86%
Stock Price CAGR
10 Years: %
5 Years: 10%
3 Years: 34%
1 Year: 75%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 8%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
10 26 28 32 35 36 36 42
Reserves 116 118 166 263 219 253 262 365
31 92 93 161 171 218 189 30
105 120 145 140 352 291 439 698
Total Liabilities 262 355 433 596 777 798 926 1,136
3 10 10 10 10 9 9 43
CWIP 0 0 11 12 14 20 39 13
Investments 0 0 2 2 2 1 1 0
259 345 410 572 752 767 876 1,080
Total Assets 262 355 433 596 777 798 926 1,136

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
56 27 -19 -147 12 -16 91 161
-1 -1 1 -1 -0 -7 -42 29
23 -20 27 141 -11 21 -19 -74
Net Cash Flow 78 6 10 -7 0 -1 30 116

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 29 207 93 215 2 1 6 2
Inventory Days 8,524 9,212
Days Payable 4,159 873
Cash Conversion Cycle 4,395 207 93 215 8,341 1 6 2
Working Capital Days 449 461 568 730 328 441 955 307
ROCE % 18% 17% 17% 16% 19% 8% 12%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
59.06 59.06 59.06 59.06 59.06 58.66 58.66 56.88 56.88 54.34 53.82 53.82
0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.05 0.05 0.03 0.07 0.03
5.81 5.50 5.44 5.23 4.39 3.73 1.65 0.31 0.01 9.51 9.50 9.50
35.10 35.41 35.47 35.68 36.51 37.57 39.66 42.76 43.06 36.11 36.60 36.64

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