Bharti Infratel Ltd

Bharti Infratel Limited is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is providing a good dividend yield of 5.13%.
Company has been maintaining a healthy dividend payout of 86.51%
Cons:
Stock is trading at 3.22 times its book value
Promoter's stake has decreased
The company has delivered a poor growth of 8.21% over past five years.
Company has a low return on equity of 11.05% for last 3 years.
Earnings include an other income of Rs.1227.60 Cr.

Peer Comparison Sector: Telecomm Equipment & Infra Services // Industry: Transmisson Line Towers / Equipment

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
1,453 1,496 1,530 1,605 1,593 1,658 1,695 1,672 1,696 1,719 1,732 1,675
792 807 824 836 812 868 898 884 930 947 910 921
Operating Profit 661 689 706 770 782 789 797 788 765 772 823 754
OPM % 45% 46% 46% 48% 49% 48% 47% 47% 45% 45% 47% 45%
Other Income 967 19 18 19 1,025 15 20 20 1,162 20 26 19
Interest -176 -306 -148 -23 -92 -62 12 -29 -88 -100 -119 -82
Depreciation 288 288 293 297 295 300 293 292 277 270 264 253
Profit before tax 1,516 726 578 515 1,603 567 512 545 1,739 622 703 601
Tax % 3% 26% 36% 37% 13% 36% 38% 39% 13% 35% 33% 35%
Net Profit 1,477 535 368 325 1,398 364 317 335 1,518 403 469 389
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
0 705 4,249 3,091 3,780 4,158 4,460 4,999 5,389 5,558 6,085 6,618 6,822
0 442 2,782 1,910 2,339 2,523 2,713 2,922 2,995 3,070 3,260 3,375 3,708
Operating Profit -0 264 1,467 1,181 1,441 1,636 1,747 2,077 2,394 2,488 2,825 3,243 3,114
OPM % 37% 35% 38% 38% 39% 39% 42% 44% 45% 46% 49% 46%
Other Income 0 1 160 148 89 111 684 530 1,995 572 1,716 1,210 1,228
Interest 0 34 47 65 36 1 1 9 -6 33 39 46 -388
Depreciation 0 163 1,145 852 979 1,059 1,109 1,101 1,122 1,155 1,166 1,180 1,064
Profit before tax -0 67 436 412 515 687 1,322 1,497 3,274 1,872 3,336 3,227 3,665
Tax % -0% 34% 32% 35% 30% 35% 24% 27% 17% 29% 19% 25%
Net Profit -0 44 295 269 359 449 1,010 1,090 2,725 1,327 2,705 2,414 2,779
EPS in Rs 5.35 5.77 14.39 5.68 14.62 13.05
Dividend Payout % -0% 0% 0% 0% 0% 0% 103% 76% 76% 43% 109% 107%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:25.10%
5 Years:8.21%
3 Years:7.09%
TTM:3.08%
Compounded Profit Growth
10 Years:49.80%
5 Years:21.28%
3 Years:-0.55%
TTM:15.12%
Return on Equity
10 Years:7.51%
5 Years:10.64%
3 Years:11.05%
Last Year:14.70%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
0 0 540 581 581 581 1,889 1,889 1,894 1,897 1,850 1,850 1,850
Reserves -0 10,262 9,918 13,455 13,771 14,154 15,784 15,859 16,070 17,033 14,388 15,876 13,815
Borrowings 0 3,135 900 480 0 0 0 0 0 0 278 0 6
0 2,668 6,461 2,884 3,866 3,344 4,357 4,740 4,363 2,375 5,091 2,601 2,414
Total Liabilities 0 16,066 17,820 17,400 18,218 18,079 22,029 22,489 22,326 21,305 21,606 20,326 18,084
0 11,539 14,077 8,060 8,060 7,286 7,112 6,686 6,470 6,063 5,791 5,589 5,325
CWIP 0 402 428 194 158 66 77 52 68 70 58 100 104
Investments 0 3,193 287 6,356 6,017 6,072 9,694 13,043 11,924 10,486 11,666 12,830 10,842
0 932 3,028 2,790 3,982 4,654 5,146 2,708 3,864 4,686 4,091 1,808 1,813
Total Assets 0 16,066 17,820 17,400 18,218 18,079 22,029 22,489 22,326 21,305 21,606 20,326 18,084

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
0 133 -47 2,441 1,459 1,322 2,243 1,816 1,721 1,980 1,915 2,471
0 -5,103 -1,131 -1,431 -1,481 -1,309 -4,831 -1,114 1,076 1,476 718 -843
0 5,118 1,043 -362 -635 0 2,648 -658 -2,838 -1,453 -2,671 -3,568
Net Cash Flow 0 148 -134 647 -656 14 59 44 -41 2,003 -38 -1,940

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 2% 4% 4% 4% 5% 8% 8% 17% 8% 16% 20%
Debtor Days 44 15 45 34 21 17 20 23 13 18 15
Inventory Turnover