Gammon Infrastructure Projects Ltd

About [ edit ]

Gammon Infrastructure Projects Limited is an infrastructure project development company. The Company is engaged in construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subway.

  • Market Cap 71.5 Cr.
  • Current Price 0.80
  • High / Low 1.15 / 0.20
  • Stock P/E
  • Book Value 3.23
  • Dividend Yield 0.00 %
  • ROCE 6.28 %
  • ROE -346 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Stock is trading at 0.25 times its book value
  • Debtor days have improved from 120.50 to 61.55 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -7.47% over past five years.
  • Promoter holding is low: 20.60%
  • Company has a low return on equity of -115.95% for last 3 years.
  • Contingent liabilities of Rs.5304.11 Cr.
  • Promoters have pledged 100.00% of their holding.
  • Earnings include an other income of Rs.336.19 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -19.00%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
229 124 113 123 136 97 95 70 105 44 48 70
100 55 61 60 121 42 39 38 60 31 32 43
Operating Profit 129 69 52 63 15 55 56 32 46 13 15 27
OPM % 56% 56% 46% 51% 11% 57% 59% 46% 43% 30% 32% 38%
Other Income -12 4 4 8 -10 6 4 10 328 4 2 2
Interest 65 87 88 92 94 95 99 72 117 62 64 65
Depreciation 54 27 27 27 27 31 32 32 31 22 22 22
Profit before tax -2 -41 -60 -48 -116 -64 -71 -62 225 -67 -68 -58
Tax % -790% 34% 23% 31% 11% -6% -6% -6% 1% -0% 1% -8%
Net Profit -15 -27 -46 -21 -82 -54 -62 -51 235 -58 -59 -56
EPS in Rs -0.16 -0.29 -0.49 -0.22 -0.88 -0.58 -0.66 -0.54 2.50 -0.62 -0.62 -0.59
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Dec 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
190 328 336 423 690 454 542 1,577 663 625 497 368 267
78 192 135 259 223 177 200 996 423 381 298 179 166
Operating Profit 112 136 201 164 467 277 342 581 240 243 198 189 101
OPM % 59% 42% 60% 39% 68% 61% 63% 37% 36% 39% 40% 51% 38%
Other Income 23 12 10 59 8 6 -28 -7 25 14 7 347 336
Interest 51 57 100 156 297 219 207 644 309 340 361 383 308
Depreciation 43 50 85 78 161 120 168 100 50 87 109 126 98
Profit before tax 40 40 26 -11 17 -55 -61 -170 -94 -170 -265 27 31
Tax % 14% 27% 18% -110% -42% -2% 35% -24% -29% -9% 21% 46%
Net Profit 33 26 17 -25 15 -56 -40 -205 -104 -146 -156 67 63
EPS in Rs 0.34 0.23 -0.34 0.20 -0.77 -0.43 -2.18 -1.10 -1.55 -1.65 0.71 0.67
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:1%
5 Years:-7%
3 Years:-18%
TTM:-33%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-17%
Stock Price CAGR
10 Years:-27%
5 Years:-31%
3 Years:-36%
1 Year:167%
Return on Equity
10 Years:-30%
5 Years:-64%
3 Years:-116%
Last Year:-346%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Dec 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
144 146 147 147 148 148 188 189 189 189 189 189 189
Reserves 481 508 545 598 565 523 763 568 464 319 165 232 115
Borrowings 1,336 1,923 2,755 3,628 4,018 4,127 3,907 2,513 2,675 3,142 1,636 474 461
139 198 287 408 519 707 4,697 1,453 1,555 1,964 2,852 2,988 3,064
Total Liabilities 2,101 2,775 3,734 4,781 5,251 5,505 9,555 4,724 4,883 5,614 4,843 3,884 3,830
537 752 1,350 2,029 2,603 2,495 6,229 2,242 2,197 2,869 2,076 2,138 2,093
CWIP 1,200 1,754 1,898 2,163 2,057 2,457 2,653 585 809 1,009 1,025 89 89
Investments 6 6 4 1 4 24 34 86 184 45 45 490 490
357 263 481 588 586 528 639 1,811 1,693 1,690 1,697 1,166 1,157
Total Assets 2,101 2,775 3,734 4,781 5,251 5,505 9,555 4,724 4,883 5,614 4,843 3,884 3,830

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Dec 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
123 116 201 240 361 408 416 256 416 374 278 363
-470 -654 -864 -1,003 -609 -409 -382 118 -441 -48 -60 -18
308 429 691 846 85 20 -71 -349 -21 -306 -257 -347
Net Cash Flow -39 -108 28 83 -163 18 -37 25 -46 20 -39 -3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Dec 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 5% 4% 4% 4% 7% 4% 4% 13% 6% 5% 4% 6%
Debtor Days 84 56 33 29 20 14 13 15 197 108 192 62
Inventory Turnover 0.00 0.00 0.00 0.07 0.06 0.82 0.74 2.73 3.77 2.85 4.39 1.97

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
38.54 20.60 20.60 20.60 20.60 20.60 20.60 20.60 20.60 20.60 20.60 20.60
1.45 1.09 1.09 1.09 1.09 1.09 1.09 1.09 1.09 1.09 1.09 1.09
11.15 26.81 22.48 19.96 19.96 18.44 18.44 18.51 18.43 17.17 17.17 17.17
48.86 51.50 55.83 58.35 58.35 59.87 59.87 59.80 59.88 61.14 61.14 61.14

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