Coforge Ltd

About [ edit ]

Coforge is an IT services company providing end-to-end software solutions and services. .
It is among the top-20 Indian software exporters. Prominent global customers include British Airways, the ING group, SEI Investments, Sabre, and SITA. Over the years, Coforge has set up subsidiaries in the US, Singapore, Australia, UK, Germany and Thailand, mainly to market and mobilise projects for the software division. The company has business partnerships with large IT companies across the world.

  • Market Cap 20,812 Cr.
  • Current Price 3,430
  • High / Low 3,545 / 1,302
  • Stock P/E 44.4
  • Book Value 407
  • Dividend Yield 0.90 %
  • ROCE 25.7 %
  • ROE 19.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 20.31%

Cons

  • Stock is trading at 8.43 times its book value
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
825 907 972 972 963 1,038 1,073 1,109 1,057 1,154 1,191 1,262
693 743 790 801 824 847 879 911 888 955 989 1,052
Operating Profit 132 164 181 172 138 192 195 198 170 199 202 210
OPM % 16% 18% 19% 18% 14% 18% 18% 18% 16% 17% 17% 17%
Other Income 22 23 2 2 26 10 15 9 -10 4 5 16
Interest 2 2 2 3 3 4 3 5 4 4 3 3
Depreciation 31 32 31 30 40 45 45 43 46 46 46 45
Profit before tax 120 153 150 140 122 153 162 159 109 152 157 178
Tax % 25% 24% 30% 21% 26% 18% 21% 22% 24% 20% 21% 23%
Net Profit 86 112 100 106 88 120 123 114 80 121 122 133
EPS in Rs 13.95 18.16 16.26 17.08 14.17 19.15 19.73 18.18 13.20 19.93 20.14 21.95

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
914 1,232 1,576 2,021 2,305 2,372 2,688 2,802 2,991 3,676 4,184 4,663
742 994 1,306 1,689 1,951 2,043 2,216 2,322 2,490 3,026 3,468 3,883
Operating Profit 171 238 270 333 354 330 472 480 501 650 716 780
OPM % 19% 19% 17% 16% 15% 14% 18% 17% 17% 18% 17% 17%
Other Income 8 14 30 23 30 -57 22 4 39 46 68 15
Interest 2 2 4 5 4 6 8 6 9 9 16 14
Depreciation 36 31 36 57 62 92 121 128 127 125 173 184
Profit before tax 142 218 260 293 318 176 365 351 404 562 595 596
Tax % 10% 15% 24% 26% 25% 31% 21% 22% 24% 25% 21% 22%
Net Profit 126 182 197 213 231 114 270 250 280 403 444 456
EPS in Rs 21.50 30.75 33.08 35.40 37.98 18.69 44.13 40.76 45.59 65.28 71.05 75.19
Dividend Payout % 33% 24% 24% 24% 24% 51% 23% 31% 33% 0% 44% 17%
Compounded Sales Growth
10 Years:14%
5 Years:12%
3 Years:16%
TTM:11%
Compounded Profit Growth
10 Years:10%
5 Years:12%
3 Years:19%
TTM:6%
Stock Price CAGR
10 Years:34%
5 Years:49%
3 Years:49%
1 Year:150%
Return on Equity
10 Years:18%
5 Years:19%
3 Years:20%
Last Year:19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
59 59 60 60 61 61 61 61 62 62 62 61
Reserves 521 693 850 1,034 1,263 1,296 1,511 1,625 1,712 2,010 2,334 2,406
Borrowings 22 12 52 10 9 9 10 25 22 14 35 0
223 250 365 435 468 611 702 695 828 748 968 1,047
Total Liabilities 824 1,014 1,326 1,539 1,801 1,977 2,285 2,407 2,624 2,834 3,400 3,513
185 189 423 438 453 558 903 848 879 819 1,079 1,021
CWIP 129 137 0 28 129 120 17 0 1 1 0 0
Investments 47 44 55 82 55 55 75 316 365 365 14 12
464 643 848 991 1,164 1,243 1,291 1,244 1,379 1,649 2,307 2,480
Total Assets 824 1,014 1,326 1,539 1,801 1,977 2,285 2,407 2,624 2,834 3,400 3,513

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
138 55 164 235 145 258 360 472 382 453 297 762
-92 -35 -87 -107 -78 -184 -223 -343 -248 -237 136 -235
-61 -55 -17 -91 -53 -66 -73 -67 -74 -106 -133 -553
Net Cash Flow -16 -35 61 37 14 7 64 62 60 109 300 -26

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 28% 32% 30% 28% 26% 19% 25% 23% 23% 30% 27% 26%
Debtor Days 74 81 77 82 89 93 80 61 71 58 75 70
Inventory Turnover 38.64 279.21 82.98 51.81 38.59 16.00 12.67 108.33 167.33 312.00

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
30.65 30.62 30.58 30.51 33.91 70.04 70.11 70.10 70.32 70.28 63.99 63.99
40.73 41.07 37.77 40.61 35.26 14.89 13.39 14.49 13.99 13.15 14.44 14.62
15.31 15.06 18.22 16.05 17.36 6.11 7.55 6.80 6.39 7.59 12.21 11.85
0.13 0.15 0.15 0.15 0.15 0.15 0.15 0.00 0.00 0.00 0.00 0.00
13.18 13.11 13.29 12.69 13.32 8.80 8.80 8.61 9.30 8.99 9.36 9.54

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