Kavveri Telecom Products Ltd

Kavveri Telecom Products Ltd

₹ 11.6 -4.92%
28 Mar - close price
About

Incorporated in 1996, Kavveri Telecom Products Limited is engaged in design, development and manufacture of Radio Frequency products and antennae for telecom, defense and space applications in India and abroad.

Key Points

Product Profile:[1]
a) Antennas: Base Station Antennas, Microwave Antennas, Broadband In-building Antennas & other customized design Antennas.
b) RF Components: Co-Location Interference Filters, Duplexers, Combiners, Diplexers, Triplexers
c) Capacity Enhancers: Tower Mount Amplifier, Tower Mount Booster, MCPA
d) Coverage Products: Multi-band Antennas, Power Splitters, Couplers, Repeaters
e) Coverage Solutions: Microcell Based Solutions, Neutral Host BOL Solutions, Repeater Based Solutions
f) RF line products: Feeder Cables, Connectors, Installation products

  • Market Cap 23.3 Cr.
  • Current Price 11.6
  • High / Low 18.0 / 4.40
  • Stock P/E 0.73
  • Book Value 28.4
  • Dividend Yield 0.00 %
  • ROCE 25.0 %
  • ROE 103 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.41 times its book value
  • Company has delivered good profit growth of 25.5% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of -28.1% over past five years.
  • Promoter holding is low: 15.1%
  • Company has a low return on equity of -1.70% over last 3 years.
  • Contingent liabilities of Rs.272 Cr.
  • Promoters have pledged 34.5% of their holding.
  • Earnings include an other income of Rs.240 Cr.
  • Company has high debtors of 219 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

Consolidated Figures in Rs. Crores / View Standalone

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
1.24 0.59 0.48 0.99 2.45 3.00 1.52 0.75 0.99 0.36 0.38 0.50 0.74
1.02 1.26 0.93 1.55 2.01 2.34 1.62 0.68 0.76 207.30 0.52 0.82 0.98
Operating Profit 0.22 -0.67 -0.45 -0.56 0.44 0.66 -0.10 0.07 0.23 -206.94 -0.14 -0.32 -0.24
OPM % 17.74% -113.56% -93.75% -56.57% 17.96% 22.00% -6.58% 9.33% 23.23% -57,483.33% -36.84% -64.00% -32.43%
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 239.54 0.00 0.00 0.00
Interest 3.31 3.55 3.31 3.48 3.38 3.32 0.00 0.01 0.00 0.01 0.01 0.00 0.00
Depreciation 0.82 0.36 0.52 0.52 0.52 0.51 0.52 0.52 0.52 -1.35 0.05 0.05 0.06
Profit before tax -3.91 -4.58 -4.28 -4.56 -3.46 -3.17 -0.62 -0.46 -0.29 33.94 -0.20 -0.37 -0.30
Tax % -10.49% 9.39% 3.04% -14.25% 3.76% -70.03% -27.42% 0.00% 0.00% 2.62% 0.00% 0.00% 0.00%
-4.32 -4.15 -4.15 -5.21 -3.33 -5.39 -0.79 -0.46 -0.29 33.05 -0.20 -0.37 -0.30
EPS in Rs -2.15 -2.06 -2.06 -2.59 -1.65 -2.68 -0.39 -0.23 -0.14 16.42 -0.10 -0.18 -0.15
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
454 239 170 52 41 25 15 6 5 4 6 3 2
384 256 177 39 35 24 27 7 5 6 7 209 210
Operating Profit 71 -17 -7 13 5 1 -12 -1 -1 -2 -1 -206 -208
OPM % 16% -7% -4% 25% 13% 4% -84% -18% -12% -41% -20% -7,317% -10,487%
18 17 11 -2 4 6 1 -3 1 1 1 239 240
Interest 15 24 24 27 25 20 20 13 13 13 14 0 0
Depreciation 9 12 15 20 20 18 16 4 3 3 2 0 -1
Profit before tax 64 -35 -35 -37 -35 -31 -47 -21 -16 -17 -15 32 33
Tax % 25% -22% -8% -3% -0% -0% 37% 104% -8% 3% -17% 3%
48 -43 -38 -38 -35 -32 -30 1 -18 -16 -18 31 32
EPS in Rs 23.89 -20.82 -18.75 -18.79 -17.52 -15.66 -14.77 0.38 -8.78 -8.16 -8.99 15.65 15.99
Dividend Payout % 17% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -36%
5 Years: -28%
3 Years: -15%
TTM: -68%
Compounded Profit Growth
10 Years: 11%
5 Years: 26%
3 Years: 57%
TTM: 564%
Stock Price CAGR
10 Years: -2%
5 Years: 18%
3 Years: 84%
1 Year: 155%
Return on Equity
10 Years: -27%
5 Years: -11%
3 Years: -2%
Last Year: 103%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 20 20 20 20 20 20 20 20 20 20 20 20 20
Reserves 286 188 151 93 58 33 3 18 -4 9 -8 32 37
152 214 193 237 278 295 267 230 235 207 210 0 4
159 176 234 235 276 295 201 85 104 49 53 27 26
Total Liabilities 617 599 598 585 632 643 491 353 355 285 275 79 87
180 225 231 237 218 200 182 26 23 7 5 2 2
CWIP 82 35 16 1 1 1 1 1 1 1 1 0 0
Investments 0 5 6 6 6 6 6 0 0 0 0 21 21
355 334 345 342 407 437 303 326 331 277 269 56 64
Total Assets 617 599 598 585 632 643 491 353 355 285 275 79 87

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
69 -46 104 -2 -28 17 15 -26 30 -11 24 -19
-92 -11 -2 -11 3 0 2 1 -21 19 -6 43
27 51 -101 14 23 -13 -16 24 -9 -11 -18 -24
Net Cash Flow 4 -6 1 2 -2 4 1 -1 0 -3 -0 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 140 140 155 558 950 1,343 2,627 3,468 4,293 3,432 3,244 219
Inventory Days 88 166 248 4,106 2,509 5,761 13,846 13,885 19,047 9,302 7,075 358
Days Payable 57 177 393 5,907 4,637 9,806 14,524 6,137 8,482 2,110 1,837 2,292
Cash Conversion Cycle 171 130 10 -1,243 -1,178 -2,703 1,949 11,217 14,857 10,624 8,481 -1,715
Working Capital Days 162 233 107 294 706 713 2,469 11,022 10,624 12,706 8,428 -36
ROCE % 20% -3% -3% -0% -3% -4% -9% -1% -1% -1% -1% 25%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
15.14% 15.14% 15.14% 15.14% 16.13% 15.68% 15.68% 15.14% 15.14% 15.14% 15.14% 15.14%
14.54% 14.54% 13.52% 9.59% 9.57% 9.57% 13.98% 13.99% 13.98% 13.98% 13.98% 13.01%
13.79% 13.79% 13.79% 13.79% 13.79% 13.79% 9.38% 6.49% 4.91% 4.91% 4.91% 0.02%
56.53% 56.53% 57.55% 61.48% 60.50% 60.95% 60.95% 64.38% 65.98% 65.98% 65.98% 71.84%
No. of Shareholders 4,8674,8676,5888,3318,6208,5468,6079,63710,50610,45411,92213,584

* 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.

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

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