Ganesh Housing Corporation Ltd

Ganesh Housing Corporation Ltd

₹ 792 0.69%
24 Apr 3:04 p.m.
About

Ganesh Housing Corporation Limited (earlier known as Ganesh Housing Finance Corporation Limited) is a part of the Ganesh Group founded in 1991. GHCL has built a strong presence in and around Ahmedabad. GHCL has developed and sold over 22 million sq. ft. of real estate space, with another 2.5 million sq. ft. currently under development. [1]

Key Points

Business Highlights
The company has one of the largest developable land banks in Ahmedabad of 500 acres. This landbank offers a development potential of 36-40 mn sq. ft. [1]
GHCL specializes in the residential sector, with a focus on the mid and higher-income segment of the market. It has entered the commercial, retail, and township formats of the industry. [2]

  • Market Cap 6,601 Cr.
  • Current Price 792
  • High / Low 917 / 310
  • Stock P/E 27.5
  • Book Value 120
  • Dividend Yield 0.30 %
  • ROCE 16.0 %
  • ROE 10.0 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 234 to 130 days.

Cons

  • Stock is trading at 6.54 times its book value
  • Company has a low return on equity of 1.91% over last 3 years.

* 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: Construction Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
0 3 8 8 0 109 29 6 18 199 26 119 181
5 1 6 7 6 79 10 8 8 69 27 33 44
Operating Profit -4 3 1 1 -5 30 19 -2 9 130 -1 85 138
OPM % -1,381% 84% 17% 16% -1,687% 27% 64% -31% 52% 65% -4% 72% 76%
10 0 0 0 -0 0 0 0 1 1 1 0 0
Interest 11 11 9 7 5 5 3 2 2 1 0 0 0
Depreciation 0 0 0 0 1 1 1 1 1 1 1 2 2
Profit before tax -7 -8 -8 -6 -11 24 15 -5 7 129 -2 84 136
Tax % -90% 19% 37% 22% 27% 30% 37% 15% 8% 38% 94% 30% 25%
-12 -7 -5 -4 -8 17 10 -4 7 80 -0 59 101
EPS in Rs -2.52 -1.37 -0.92 -0.83 -1.53 2.04 1.14 -0.47 0.82 9.55 -0.01 7.04 12.17
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
170 154 177 184 197 177 207 95 1 4 124 251 525
93 61 70 90 87 64 80 26 25 14 97 95 173
Operating Profit 78 93 107 93 110 112 128 68 -24 -10 27 156 352
OPM % 46% 60% 60% 51% 56% 64% 62% 72% -1,828% -252% 22% 62% 67%
9 13 4 3 1 2 -1 5 2 10 1 1 2
Interest 47 52 54 53 53 52 57 53 47 44 25 8 2
Depreciation 3 2 2 3 3 3 3 2 2 2 2 3 5
Profit before tax 37 51 55 40 56 59 67 19 -71 -46 0 147 347
Tax % 17% 16% 24% 21% 28% 36% 42% 40% 11% -2% 89% 37%
31 43 42 32 40 38 39 11 -63 -47 0 92 240
EPS in Rs 6.24 8.79 8.49 6.47 8.21 7.79 7.94 2.27 -12.85 -9.53 0.00 11.03 28.75
Dividend Payout % 13% 11% 20% 27% 16% 26% 23% 22% 0% 0% 0% 22%
Compounded Sales Growth
10 Years: 5%
5 Years: 4%
3 Years: 478%
TTM: 226%
Compounded Profit Growth
10 Years: 8%
5 Years: 18%
3 Years: 51%
TTM: 716%
Stock Price CAGR
10 Years: 27%
5 Years: 67%
3 Years: 130%
1 Year: 145%
Return on Equity
10 Years: 3%
5 Years: 0%
3 Years: 2%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 33 33 33 33 33 49 49 49 49 49 83 83 83
Reserves 545 583 616 638 679 688 718 718 652 605 788 880 919
275 305 301 283 291 357 429 378 322 282 99 4 122
63 60 79 80 90 91 76 54 55 45 125 207 243
Total Liabilities 916 981 1,028 1,033 1,092 1,186 1,272 1,199 1,078 981 1,096 1,174 1,367
62 60 54 212 212 210 208 208 206 191 192 192 214
CWIP 1 1 0 0 2 0 0 0 2 0 0 21 61
Investments 137 193 193 193 193 205 203 205 205 228 227 298 525
715 727 782 628 685 770 860 786 664 562 677 663 567
Total Assets 916 981 1,028 1,033 1,092 1,186 1,272 1,199 1,078 981 1,096 1,174 1,367

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
81 46 152 51 140 194 -42 56 49 -12 -150 169
-50 -14 -66 8 -119 -130 -40 77 74 68 137 136
-123 -14 -98 -46 -10 -65 79 -136 -135 -58 9 -103
Net Cash Flow -92 18 -12 12 11 -1 -2 -3 -13 -2 -4 201

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 408 481 381 353 183 123 214 480 23,276 0 337 130
Inventory Days 138 73
Days Payable 469 251
Cash Conversion Cycle 77 481 381 353 183 123 36 480 23,276 0 337 130
Working Capital Days 1,117 187 106 785 907 992 1,186 2,318 124,221 40,135 1,544 366
ROCE % 10% 12% 11% 10% 11% 11% 11% 6% -2% -0% 3% 16%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.54% 56.54% 56.54% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06%
0.97% 0.97% 1.02% 0.67% 0.66% 0.79% 0.70% 0.72% 0.72% 0.92% 0.87% 0.89%
0.00% 0.00% 0.01% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.05% 0.07% 0.04%
42.49% 42.49% 42.44% 26.27% 26.27% 26.14% 26.24% 26.22% 26.22% 25.96% 26.00% 26.02%
No. of Shareholders 16,98915,25214,47715,34913,99414,01613,44813,29812,76015,46415,34220,744

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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