D-Link India Ltd

About

D-Link (India) is primarily engaged in the business of marketing and distribution of Networking products.

  • Market Cap 530 Cr.
  • Current Price 149
  • High / Low 169 / 92.2
  • Stock P/E 14.0
  • Book Value 75.0
  • Dividend Yield 1.21 %
  • ROCE 16.5 %
  • ROE 12.3 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 0.14% over past five years.
  • Company has a low return on equity of 13.63% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
176.17 175.70 184.79 187.59 191.47 197.08 163.94 125.33 184.24 204.38 212.60 162.69
163.50 162.34 172.99 176.24 178.27 185.14 158.07 122.59 171.39 191.61 199.08 151.17
Operating Profit 12.67 13.36 11.80 11.35 13.20 11.94 5.87 2.74 12.85 12.77 13.52 11.52
OPM % 7.19% 7.60% 6.39% 6.05% 6.89% 6.06% 3.58% 2.19% 6.97% 6.25% 6.36% 7.08%
Other Income 0.52 0.37 0.33 2.44 1.31 1.83 8.03 1.39 1.80 2.09 1.56 1.36
Interest 0.01 0.04 0.04 0.15 0.14 0.19 0.23 0.22 0.20 0.27 0.18 0.15
Depreciation 0.32 0.32 0.31 1.40 1.47 1.45 1.42 1.38 1.37 1.37 1.33 1.32
Profit before tax 12.86 13.37 11.78 12.24 12.90 12.13 12.25 2.53 13.08 13.22 13.57 11.41
Tax % 35.07% 33.28% 41.26% 34.97% 23.10% 30.34% 27.35% 25.30% 25.31% 25.64% 27.27% 25.42%
Net Profit 8.35 8.93 6.91 7.96 9.91 8.45 8.90 1.89 9.77 9.82 9.87 8.52
EPS in Rs 2.35 2.52 1.95 2.24 2.79 2.38 2.51 0.53 2.75 2.77 2.78 2.40

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
641 721 707 644 716 740 727 764
607 683 681 625 670 698 685 713
Operating Profit 34 38 25 18 46 42 42 51
OPM % 5% 5% 4% 3% 6% 6% 6% 7%
Other Income 2 1 2 3 -3 14 7 7
Interest 0 0 1 1 0 1 1 1
Depreciation 2 2 2 1 1 6 5 5
Profit before tax 33 38 25 19 41 50 42 51
Tax % 34% 35% 34% 33% 36% 29% 26%
Net Profit 22 24 17 13 26 35 31 38
EPS in Rs 6.16 6.87 4.70 3.57 7.45 9.92 8.83 10.70
Dividend Payout % 11% 10% 11% 14% 13% 15% 20%
Compounded Sales Growth
10 Years:%
5 Years:0%
3 Years:4%
TTM:13%
Compounded Profit Growth
10 Years:%
5 Years:5%
3 Years:35%
TTM:47%
Stock Price CAGR
10 Years:22%
5 Years:11%
3 Years:26%
1 Year:47%
Return on Equity
10 Years:%
5 Years:12%
3 Years:14%
Last Year:12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7 7 7 7 7 7 7
Reserves 128 149 167 178 203 231 259
Borrowings 2 0 11 0 0 10 7
126 177 80 123 132 129 158
Total Liabilities 263 333 265 309 342 377 431
35 35 34 33 32 42 38
CWIP 0 0 0 0 0 0 0
Investments 0 5 0 4 7 22 49
228 293 231 272 303 313 345
Total Assets 263 333 265 309 342 377 431

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2 19 -18 34 3 28 75
-1 -5 4 -6 -6 -19 -58
-3 -6 -4 -3 -2 -11 -8
Net Cash Flow -2 8 -18 25 -5 -2 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 81 87 76 98 95 86 89
Inventory Days 56 62 40 43 52 61 56
Days Payable 82 102 46 80 75 75 92
Cash Conversion Cycle 54 47 70 61 71 72 53
Working Capital Days 56 52 73 68 75 79 61
ROCE % 25% 15% 11% 23% 20% 16%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
51.02 51.02 51.02 51.02 51.02 51.02 51.02 51.02 51.02 51.02 51.02 51.02
0.31 0.31 0.13 0.13 0.00 0.00 0.06 0.06 0.00 0.00 0.00 0.00
2.70 2.49 0.81 0.66 0.72 0.66 0.69 0.62 0.01 0.01 0.00 0.00
45.97 46.18 48.04 48.20 48.26 48.32 48.23 48.30 48.97 48.97 48.98 48.98

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