Kolte Patil Developers Ltd

About

Business Overview
Company is in real estate business (Residential & Commercial) with dominant presence in the Pune and growing presence in Mumbai and Bengaluru.

Company markets its projects under two brands:
'Kolte-Patil’ (addressing the mid-income segment)
‘24K’ (addressing the premium luxury segment).
[1]

Key Points

Market Presence
Co. has delivered more than 20 Million Sq. Ft. of area across Pune, Bengaluru and Mumbai.
[1]

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  • Market Cap 2,195 Cr.
  • Current Price 290
  • High / Low 360 / 180
  • Stock P/E 24.2
  • Book Value 124
  • Dividend Yield 0.00 %
  • ROCE 4.17 %
  • ROE -0.61 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of -1.70% over past five years.
  • Company has a low return on equity of 5.30% for last 3 years.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
72 195 586 192 130 222 141 65 190 296 197 304
80 119 391 160 127 218 153 74 145 257 135 251
Operating Profit -8 77 195 32 3 4 -13 -10 46 39 62 53
OPM % -11% 39% 33% 17% 2% 2% -9% -15% 24% 13% 32% 17%
Other Income 4 3 30 3 4 9 3 3 4 6 4 6
Interest 21 32 23 22 22 13 19 19 18 14 18 12
Depreciation 4 4 5 5 5 3 3 4 3 2 2 3
Profit before tax -28 44 197 9 -20 -3 -32 -29 29 28 46 44
Tax % 22% 23% 34% 261% 27% 31% 12% 21% 14% 23% 33% 53%
Net Profit -13 40 116 -14 -13 -16 -27 -22 22 21 30 18
EPS in Rs -1.70 5.29 15.28 -1.84 -1.72 -2.17 -3.56 -2.88 2.96 2.74 3.88 2.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
148 203 249 727 764 697 754 964 1,403 866 1,130 692 987
89 118 182 535 543 492 555 726 1,100 619 896 629 788
Operating Profit 58 85 68 192 221 204 198 238 303 247 234 62 200
OPM % 40% 42% 27% 26% 29% 29% 26% 25% 22% 29% 21% 9% 20%
Other Income 5 6 10 37 15 12 17 10 14 11 47 17 20
Interest 8 7 26 36 46 44 84 86 99 92 80 70 62
Depreciation 2 2 2 6 7 10 15 15 15 15 17 12 10
Profit before tax 54 82 50 186 183 162 116 147 203 151 184 -3 148
Tax % 30% 36% 28% 34% 36% 37% 46% 42% 24% 34% 46% -22%
Net Profit 30 48 34 107 92 65 59 87 121 75 72 -6 91
EPS in Rs 4.00 6.32 4.50 14.18 12.15 8.62 7.77 11.51 16.03 9.95 9.55 -0.73 11.91
Dividend Payout % 38% 26% 36% 25% 25% 23% 19% 14% 12% 24% -0% -0%
Compounded Sales Growth
10 Years: 13%
5 Years: -2%
3 Years: -21%
TTM: 77%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 216%
Stock Price CAGR
10 Years: 24%
5 Years: 25%
3 Years: 8%
1 Year: 37%
Return on Equity
10 Years: 8%
5 Years: 8%
3 Years: 5%
Last Year: -1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
75 76 76 76 76 76 76 76 76 76 76 76 76
Reserves 599 624 632 695 730 766 707 800 908 764 829 818 865
Borrowings 161 175 226 173 337 378 791 762 690 807 747 678 553
373 440 557 558 730 846 1,198 1,225 988 1,980 2,078 2,329 2,424
Total Liabilities 1,208 1,314 1,491 1,501 1,873 2,066 2,771 2,862 2,662 3,627 3,730 3,901 3,919
59 59 55 133 112 119 135 127 118 104 294 286 279
CWIP 3 4 1 5 15 11 2 2 -0 0 1 0 -0
Investments 82 78 73 8 15 6 3 4 0 3 1 18 26
1,064 1,173 1,362 1,356 1,730 1,930 2,632 2,728 2,544 3,520 3,434 3,598 3,614
Total Assets 1,208 1,314 1,491 1,501 1,873 2,066 2,771 2,862 2,662 3,627 3,730 3,901 3,919

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-192 177 15 208 -117 34 36 143 230 67 335 324
246 -48 3 -46 -37 0 -137 38 38 16 -69 -155
-123 -120 -13 -97 98 -53 119 -171 -254 -119 -227 -137
Net Cash Flow -69 10 5 66 -56 -19 18 10 13 -36 39 32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 135 67 65 38 41 53 71 67 48 45 20 17
Inventory Days 1,374 2,106
Days Payable 143 214
Cash Conversion Cycle 135 67 65 38 41 53 71 67 48 45 1,251 1,910
Working Capital Days 1,909 1,420 1,237 370 430 581 729 528 364 455 302 388
ROCE % 8% 10% 8% 22% 22% 17% 14% 15% 18% 15% 16% 4%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
74.53 74.53 74.63 74.63 74.63 74.63 74.63 74.45 74.45 74.45 74.45 74.45
13.94 14.36 14.22 13.94 14.45 14.47 14.53 14.18 14.22 9.85 5.26 1.58
0.04 0.06 0.12 0.30 0.06 0.14 0.13 0.00 0.01 0.05 0.05 2.58
11.50 11.06 11.03 11.13 10.86 10.75 10.71 11.37 11.33 15.65 20.24 21.40

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