ITI Ltd

₹ 114 -0.35%
07 Dec - close price
About

ITI Limited is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services. The Company focuses on offering telephone communication services. [1]

Key Points

Turnkey Projects (~78% of revenues)[1]
Under this segment, the company is involved in various projects such as BharatNet, ASCON, Net for Spectrum, E-governance projects, FTTH Rollout for Bharti Airtel.[2]

  • Market Cap 10,816 Cr.
  • Current Price 114
  • High / Low 130 / 80.4
  • Stock P/E 166
  • Book Value 25.9
  • Dividend Yield 0.00 %
  • ROCE 7.83 %
  • ROE 4.92 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 4.40 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.02% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 4.10% over last 3 years.
  • Earnings include an other income of Rs.265 Cr.
  • Company has high debtors of 536 days.
  • Working capital days have increased from 102 days to 192 days

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
420 828 650 165 434 497 1,266 229 352 137 1,142 166 198
376 763 585 225 511 488 1,087 274 359 175 944 230 246
Operating Profit 43 65 65 -60 -78 9 179 -44 -7 -38 197 -64 -49
OPM % 10% 8% 10% -36% -18% 2% 14% -19% -2% -27% 17% -38% -25%
11 151 12 9 78 10 65 12 10 7 226 22 10
Interest 37 36 36 41 45 40 34 45 45 50 52 46 50
Depreciation 10 12 9 11 11 11 9 11 15 12 13 12 12
Profit before tax 7 168 32 -102 -56 -32 201 -88 -56 -93 357 -99 -100
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit 7 168 32 -102 -56 -32 201 -88 -56 -93 357 -99 -100
EPS in Rs 0.08 1.88 0.35 -1.11 -0.61 -0.34 2.16 -0.94 -0.60 -0.99 3.83 -1.06 -1.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,100 916 843 709 574 1,252 1,528 1,475 1,668 2,059 2,362 1,861 1,643
2,446 1,212 1,132 953 785 1,424 1,633 1,394 1,769 1,913 2,311 1,752 1,596
Operating Profit -346 -296 -289 -244 -210 -172 -105 81 -100 146 51 109 47
OPM % -16% -32% -34% -34% -37% -14% -7% 6% -6% 7% 2% 6% 3%
77 33 210 39 86 594 541 327 336 184 161 255 265
Interest 66 85 85 122 157 157 153 153 106 141 160 192 198
Depreciation 22 21 18 17 15 13 17 25 37 42 42 50 49
Profit before tax -358 -370 -182 -344 -297 251 266 231 93 147 11 121 65
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit -358 -370 -182 -344 -297 251 266 231 93 147 11 121 65
EPS in Rs -12.42 -12.84 -6.32 -11.95 -10.32 8.72 4.76 3.03 1.03 1.59 0.12 1.30 0.72
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: 4%
3 Years: 4%
TTM: -30%
Compounded Profit Growth
10 Years: 9%
5 Years: -15%
3 Years: 9%
TTM: 152%
Stock Price CAGR
10 Years: 17%
5 Years: -4%
3 Years: 10%
1 Year: 1%
Return on Equity
10 Years: 0%
5 Years: 6%
3 Years: 4%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
588 588 588 588 588 588 560 760 897 925 934 934 950
Reserves 1,219 825 584 231 -67 197 499 731 842 1,357 1,475 1,581 1,509
343 485 608 876 1,221 1,139 1,524 1,226 1,259 1,216 1,465 1,613 1,789
6,211 5,668 5,561 3,726 3,933 4,244 2,965 4,326 3,998 4,225 5,043 5,455 4,930
Total Liabilities 8,061 7,267 7,041 5,121 5,374 5,868 5,548 7,044 6,995 7,723 8,917 9,582 9,178
2,548 2,517 2,486 2,453 2,423 2,458 2,506 2,620 2,695 2,693 2,702 2,727 2,732
CWIP 7 2 1 21 33 92 102 149 165 189 169 154 154
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
5,506 4,748 4,554 2,647 2,917 3,318 2,939 4,274 4,135 4,841 6,046 6,701 6,291
Total Assets 8,061 7,267 7,041 5,121 5,374 5,868 5,548 7,044 6,995 7,723 8,917 9,582 9,178

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-374 -128 -179 -127 -149 -319 -347 -109 22 -197 96 -430
-6 -1 -3 -19 -10 -104 -75 -96 -124 -75 -306 177
177 57 178 161 398 273 468 364 -19 285 198 241
Net Cash Flow -204 -72 -4 15 239 -150 45 158 -121 13 -12 -12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 604 1,195 1,466 1,001 1,170 500 525 762 581 490 394 536
Inventory Days 25 171 206 341 247 75 110 126 114 167 196 118
Days Payable 546 2,195 3,006 5,345 3,637 1,021 1,228 1,482 1,109 1,500 1,578 1,067
Cash Conversion Cycle 83 -829 -1,334 -4,003 -2,220 -447 -594 -594 -414 -844 -988 -413
Working Capital Days -113 -168 -275 -321 -399 -364 -73 -1 64 66 49 192
ROCE % -13% -14% -15% -13% -8% 16% 19% 14% 7% 9% 5% 8%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
90.00 90.30 90.30 90.30 90.30 90.09 90.09 90.09 90.09 90.00 90.09 90.09
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.04 0.05 0.07
0.02 0.01 0.01 0.00 0.00 0.00 0.01 0.01 0.02 0.01 0.02 0.01
7.75 7.51 7.51 7.51 7.51 7.74 7.74 7.74 7.74 7.83 7.76 7.76
2.22 2.15 2.15 2.16 2.16 2.14 2.14 2.14 2.13 2.12 2.08 2.06

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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