DigiSpice Technologies Ltd

About

Founded in 2000, Digispice Technologies Limited (DTL) is primarily engaged in the Information and Communication Technology business providing Value Added Services, and Mobile Content services to the domestic /International Telecom Operators and the development and sale of telecom-related software. In addition to this, DTL is the corporate agent of IRCTC for booking railway tickets, air tickets, hotels and provides other travel needs through its platform and it also provides financial technologies and other related services.

Key Points

Business Overview [1]
The Company’s business activities fall into two primary segments, Digital Financial Services & Digital Technology Services.

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  • Market Cap 894 Cr.
  • Current Price 38.9
  • High / Low 115 / 10.2
  • Stock P/E
  • Book Value 9.54
  • Dividend Yield 0.00 %
  • ROCE -1.94 %
  • ROE -3.01 %
  • Face Value 3.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 130.16 to 99.07 days.

Cons

  • Stock is trading at 4.08 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -6.16% over past five years.
  • Company has a low return on equity of -1.37% for last 3 years.
  • Earnings include an other income of Rs.16.05 Cr.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
35.83 47.73 37.71 32.27 26.98 24.34 29.89 31.04 28.07 22.23 21.38 29.21
39.76 49.22 38.68 36.28 28.79 29.33 33.28 32.50 29.79 28.42 24.16 29.17
Operating Profit -3.93 -1.49 -0.97 -4.01 -1.81 -4.99 -3.39 -1.46 -1.72 -6.19 -2.78 0.04
OPM % -10.97% -3.12% -2.57% -12.43% -6.71% -20.50% -11.34% -4.70% -6.13% -27.85% -13.00% 0.14%
Other Income 0.74 7.56 2.85 2.07 0.14 -62.24 2.96 2.90 5.83 6.98 1.37 1.87
Interest 0.45 0.56 0.58 0.70 0.72 0.49 0.36 0.27 0.22 0.39 0.24 0.25
Depreciation 2.30 2.26 2.18 2.02 2.20 2.79 1.88 1.26 1.00 3.37 0.64 0.62
Profit before tax -5.94 3.25 -0.88 -4.66 -4.59 -70.51 -2.67 -0.09 2.89 -2.97 -2.29 1.04
Tax % -14.98% -185.23% 12.50% 12.23% 19.39% 0.40% -7.87% -133.33% 0.00% -28.96% -3.49% 0.00%
Net Profit -6.83 9.27 -0.78 -4.08 -3.69 -70.23 -2.88 -0.21 2.89 -3.84 -2.37 1.04
EPS in Rs -0.30 0.41 -0.03 -0.18 -0.16 -3.08 -0.13 -0.01 0.13 -0.17 -0.10 0.05

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,040 945 1,008 710 68 0 153 155 144 157 121 111 101
939 884 1,057 664 93 19 102 167 165 161 133 124 112
Operating Profit 101 61 -49 45 -25 -19 51 -12 -21 -4 -11 -13 -11
OPM % 10% 6% -5% 6% -36% 33% -8% -14% -3% -9% -11% -11%
Other Income 8 36 13 34 32 -312 -41 -68 -37 17 -57 19 16
Interest 1 1 2 1 0 0 0 0 2 2 3 1 1
Depreciation 1 2 9 8 5 6 71 7 9 9 9 8 6
Profit before tax 107 93 -47 70 2 -337 -61 -88 -69 2 -81 -3 -1
Tax % 34% 16% -1% 11% -91% 0% 0% 0% -1% -262% 2% -42%
Net Profit 71 78 -47 63 5 -337 -61 -88 -69 8 -79 -4 -2
EPS in Rs 9.45 3.28 -1.99 2.63 0.20 -14.77 -2.66 -3.84 -3.04 0.35 -3.46 -0.18 -0.09
Dividend Payout % 16% 46% -75% 57% 75% 0% 0% 0% 0% 114% 0% 0%
Compounded Sales Growth
10 Years: -19%
5 Years: -6%
3 Years: -8%
TTM: -10%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 20%
TTM: 75%
Stock Price CAGR
10 Years: -8%
5 Years: 21%
3 Years: 49%
1 Year: 246%
Return on Equity
10 Years: %
5 Years: -4%
3 Years: -1%
Last Year: -3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
22 71 71 71 68 68 54 54 61 61 61 61 61
Reserves 112 609 532 563 534 198 112 54 239 251 160 157 158
Borrowings 0 0 0 0 0 0 0 0 17 24 14 13 8
282 224 205 216 11 10 6 24 50 74 71 51 45
Total Liabilities 416 905 808 850 614 276 186 133 366 409 306 282 272
8 11 101 93 72 67 21 54 42 40 33 23 25
CWIP 0 39 7 7 7 7 0 0 4 0 0 2 1
Investments 22 269 225 194 183 95 113 9 134 136 83 83 116
386 585 475 557 352 107 52 70 186 233 190 174 131
Total Assets 416 905 808 850 614 276 186 133 366 409 306 282 272

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
87 8 -27 71 -36 -10 -33 6 -11 -11 2 0
-52 -29 60 -14 73 9 37 -9 15 2 18 4
-5 -7 -35 -32 -71 -0 -0 -0 10 1 -25 1
Net Cash Flow 30 -28 -3 25 -34 -1 4 -3 14 -8 -4 5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 37 50 34 33 83 0 7 93 158 134 99
Inventory Days 57 26 19 34 0 0 0
Days Payable 116 75 63 93 36
Cash Conversion Cycle -22 1 -10 -27 83 -36 7 93 158 134 99
Working Capital Days -7 92 78 95 1,440 18 2 61 95 106 7
ROCE % 102% 21% -7% 12% 0% -0% 1% -4% -10% 1% -3% -2%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
74.36 74.36 74.35 74.35 74.35 74.35 74.35 74.35 74.35 74.19 74.09 73.97
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
25.64 25.64 25.65 25.65 25.65 25.65 25.65 25.65 25.65 25.81 25.91 26.02

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