Coforge Ltd
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 ₹ 27,248 Cr.
- Current Price ₹ 4,460
- High / Low ₹ 4,513 / 3,210
- Stock P/E 37.3
- Book Value ₹ 505
- Dividend Yield 1.43 %
- ROCE 31.6 %
- ROE 25.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 21.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 40.5%
- Company's working capital requirements have reduced from 29.2 days to 15.2 days
Cons
- Stock is trading at 8.84 times its book value
- Promoter holding has decreased over last quarter: -9.83%
* 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: IT - Software Industry: Computers - Software - Medium / Small
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,576 | 2,021 | 2,305 | 2,372 | 2,688 | 2,802 | 2,991 | 3,676 | 4,184 | 4,663 | 6,432 | 8,015 | |
1,306 | 1,688 | 1,950 | 2,036 | 2,214 | 2,322 | 2,489 | 3,026 | 3,459 | 3,882 | 5,330 | 6,734 | |
Operating Profit | 271 | 333 | 355 | 337 | 474 | 480 | 502 | 650 | 725 | 781 | 1,102 | 1,281 |
OPM % | 17% | 16% | 15% | 14% | 18% | 17% | 17% | 18% | 17% | 17% | 17% | 16% |
30 | 23 | 30 | -64 | 20 | 4 | 38 | 46 | 59 | 13 | 52 | 10 | |
Interest | 4 | 5 | 4 | 6 | 8 | 6 | 9 | 9 | 16 | 14 | 65 | 81 |
Depreciation | 36 | 57 | 62 | 92 | 121 | 128 | 127 | 125 | 173 | 184 | 227 | 258 |
Profit before tax | 260 | 293 | 318 | 176 | 365 | 351 | 404 | 562 | 595 | 596 | 862 | 951 |
Tax % | 24% | 26% | 25% | 31% | 21% | 22% | 24% | 25% | 21% | 22% | 17% | 22% |
Net Profit | 196 | 218 | 238 | 122 | 287 | 272 | 309 | 422 | 468 | 466 | 715 | 745 |
EPS in Rs | 33.08 | 35.40 | 37.98 | 18.69 | 44.13 | 40.76 | 45.59 | 65.28 | 71.05 | 75.19 | 108.65 | 113.58 |
Dividend Payout % | 24% | 24% | 24% | 51% | 23% | 31% | 33% | -0% | 44% | 17% | 48% | 56% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 22% |
3 Years: | 24% |
TTM: | 25% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 21% |
3 Years: | 18% |
TTM: | 10% |
Stock Price CAGR | |
---|---|
10 Years: | 33% |
5 Years: | 33% |
3 Years: | 45% |
1 Year: | 21% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 22% |
3 Years: | 23% |
Last Year: | 25% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
60 | 60 | 61 | 61 | 61 | 61 | 62 | 62 | 62 | 61 | 61 | 61 | |
Reserves | 850 | 1,034 | 1,263 | 1,296 | 1,511 | 1,625 | 1,712 | 2,010 | 2,334 | 2,406 | 2,672 | 3,021 |
52 | 10 | 9 | 9 | 10 | 25 | 22 | 14 | 35 | 83 | 490 | 562 | |
365 | 435 | 468 | 611 | 702 | 695 | 828 | 748 | 968 | 935 | 1,655 | 2,039 | |
Total Liabilities | 1,326 | 1,539 | 1,801 | 1,977 | 2,285 | 2,407 | 2,624 | 2,834 | 3,400 | 3,484 | 4,878 | 5,683 |
423 | 438 | 453 | 558 | 903 | 848 | 879 | 819 | 1,079 | 1,021 | 2,067 | 2,312 | |
CWIP | 0 | 28 | 129 | 120 | 17 | -0 | 1 | 1 | 0 | 0 | 17 | 5 |
Investments | 55 | 82 | 55 | 55 | 75 | 316 | 365 | 365 | 14 | 12 | -0 | -0 |
848 | 991 | 1,164 | 1,243 | 1,291 | 1,244 | 1,379 | 1,649 | 2,307 | 2,451 | 2,794 | 3,367 | |
Total Assets | 1,326 | 1,539 | 1,801 | 1,977 | 2,285 | 2,407 | 2,624 | 2,834 | 3,400 | 3,484 | 4,878 | 5,683 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
164 | 235 | 145 | 258 | 360 | 472 | 382 | 453 | 297 | 762 | 766 | 950 | |
-87 | -107 | -78 | -184 | -223 | -343 | -248 | -237 | 136 | -86 | -963 | -272 | |
-17 | -91 | -53 | -66 | -73 | -67 | -74 | -106 | -133 | -696 | -156 | -558 | |
Net Cash Flow | 61 | 37 | 14 | 7 | 64 | 62 | 60 | 109 | 300 | -20 | -353 | 121 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 77 | 82 | 89 | 93 | 80 | 61 | 71 | 58 | 75 | 84 | 79 | 73 |
Inventory Days | 13 | 12 | ||||||||||
Days Payable | 519 | 361 | ||||||||||
Cash Conversion Cycle | 77 | -424 | -260 | 93 | 80 | 61 | 71 | 58 | 75 | 84 | 79 | 73 |
Working Capital Days | 50 | 57 | 70 | 48 | 64 | 38 | 30 | 37 | 38 | 36 | 37 | 15 |
ROCE % | 30% | 28% | 26% | 19% | 25% | 23% | 23% | 30% | 27% | 25% | 32% | 32% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
25 May - Press Release- Coforge Achieves Salesforce Summit (Platinum) Level Partnership
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 24 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
23 May - Press Release - Coforge recognized with the Duck Creek Standard of Excellence Award at Formation ''23
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Announcement under Regulation 30 (LODR)-Newspaper Publication
18 May - Newspaper advertisement for Transfer of Equity Shares of the Company to Investor Education and Protection Fund (IEPF) Authority
- Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 15 May
Annual reports
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Financial Year 2022
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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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Concalls
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Feb 2022TranscriptPPT
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Oct 2021TranscriptPPT
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Aug 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Oct 2018TranscriptPPT
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May 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Nov 2017TranscriptPPT
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Aug 2017TranscriptPPT
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Jun 2016TranscriptNotesPPT
Acquisition of NIIT Tech
The co. was formerly known as NIIT Technologies Ltd. and was incorporated in April 2003. In May 2019, NIIT and its founder's family members sold their stakes totaling 30.2% in Coforge to Hulst B.V. In August 2019, Hulst made an open offer and acquired a ~40% stake from the public, increasing its total stake in Coforge to 70.05. [1]