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 4.31%.
Promoter's stake has increased
Company has been maintaining a healthy dividend payout of 78.96%
Cons:
The company has delivered a poor growth of -8.41% over past five years.
Company has a low return on equity of 13.55% for last 3 years.
Earnings include an other income of Rs.1185.40 Cr.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
1,418 1,453 1,496 1,530 1,605 1,593 1,659 1,696 1,673 1,697 1,720 1,733
748 792 807 824 836 812 869 899 885 931 950 912
Operating Profit 670 661 689 706 770 782 790 798 788 766 770 822
OPM % 47% 45% 46% 46% 48% 49% 48% 47% 47% 45% 45% 47%
Other Income 324 293 305 322 346 344 346 343 349 333 259 244
Interest -157 -176 -306 -148 -23 -92 -62 12 -29 -88 -100 -119
Depreciation 295 288 288 293 297 295 300 293 292 277 270 265
Profit before tax 856 842 1,013 882 842 923 897 835 874 910 859 920
Tax % 16% 10% 24% 30% 29% 28% 29% 30% 31% 30% 30% 30%
Net Profit 718 756 774 620 597 664 638 585 606 638 600 648
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
705 5,051 7,039 8,508 9,452 10,272 10,827 11,668 5,558 6,085 6,621 6,823
447 3,540 4,620 5,379 5,918 6,467 6,427 6,664 3,070 3,260 3,377 3,678
Operating Profit 258 1,510 2,418 3,129 3,534 3,805 4,400 5,004 2,488 2,825 3,244 3,145
OPM % 37% 30% 34% 37% 37% 37% 41% 43% 45% 46% 49% 46%
Other Income 1 127 90 118 145 340 449 522 1,679 1,960 1,512 1,185
Interest 34 114 354 433 407 394 400 290 33 39 46 -335
Depreciation 163 1,237 1,762 2,019 2,144 2,220 2,126 2,185 1,155 1,166 1,180 1,104
Profit before tax 62 285 393 795 1,128 1,531 2,323 3,052 2,979 3,580 3,529 3,562
Tax % 34% 32% 36% 31% 34% 35% 35% 35% 25% 23% 29%
Net Profit 40 195 253 551 749 1,002 1,518 1,992 2,247 2,747 2,494 2,492
EPS in Rs 3.88 7.29 6.89 10.53 14.85 13.48
Dividend Payout % 0% 0% 0% 0% 0% 104% 55% 105% 25% 108% 104%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:25.10%
5 Years:-8.41%
3 Years:-17.21%
TTM:4.11%
Compounded Profit Growth
10 Years:51.51%
5 Years:22.38%
3 Years:13.23%
TTM:0.32%
Return on Equity
10 Years:8.36%
5 Years:11.71%
3 Years:13.55%
Last Year:15.84%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
0 540 581 581 581 1,889 1,889 1,894 1,897 1,850 1,850 1,850
Reserves 10,255 9,811 13,047 13,414 13,943 15,304 16,149 15,126 16,401 13,650 15,115 13,165
Borrowings 3,135 2,584 4,291 4,264 3,159 3,523 3,342 2,582 0 278 0 0
2,676 7,792 4,594 5,031 5,952 7,173 7,415 7,676 2,528 5,307 2,838 2,749
Total Liabilities 16,066 20,728 22,512 23,289 23,635 27,888 28,795 27,278 20,826 21,085 19,802 17,764
11,539 16,231 17,575 17,667 16,720 16,324 15,320 14,812 6,063 5,794 5,595 5,523
CWIP 402 953 365 288 186 172 153 226 70 58 110 142
Investments 3,193 287 395 246 336 3,891 7,480 5,882 10,059 11,172 12,327 10,163
932 3,256 4,177 5,089 6,393 7,501 5,842 6,358 4,634 4,060 1,770 1,936
Total Assets 16,066 20,728 22,512 23,289 23,635 27,888 28,795 27,278 20,826 21,085 19,802 17,764

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
133 451 2,912 2,872 3,199 3,651 3,952 3,990 1,912 2,866 3,469
-5,103 -3,040 -3,882 -2,971 -2,014 -5,794 -2,340 -937 1,548 -237 -1,855
5,118 2,650 1,443 -570 -1,151 2,223 -1,500 -3,188 -1,453 -2,671 -3,555
Net Cash Flow 148 61 472 -669 34 80 112 -136 2,007 -42 -1,940

Ratios Consolidated / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 3% 5% 7% 8% 10% 12% 15% 14% 18% 23%
Debtor Days 44 29 47 30 26 30 10 11 13 18 15
Inventory Turnover