Majesco Ltd

About [ edit ]

Majesco is a provider of core platforms and technology solutions in Insurance (Life, Pensions and General) with 200+ global customers, operating in 8 geographies & 1/3rd of their customers use cloud based insurance (65 cloud customers) through it. # #

Key Points [ edit ]
  • Market Cap 275 Cr.
  • Current Price 96.2
  • High / Low 1,019 / 12.2
  • Stock P/E 10.8
  • Book Value 61.2
  • Dividend Yield 1,013 %
  • ROCE 8.95 %
  • ROE 6.93 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 1013.00%.
  • Company has delivered good profit growth of 47.64% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 56.25%

Cons

  • The company has delivered a poor sales growth of -5.20% over past five years.
  • Promoter holding is low: 14.78%
  • Company has a low return on equity of 2.03% for last 3 years.
  • Earnings include an other income of Rs.3280.56 Cr.
  • Promoter holding has decreased over last 3 years: -25.44%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2.27 4.68 2.50 2.48 2.52 2.57 2.58 2.57 2.42 2.12 4.97 0.00
2.66 8.83 4.18 3.92 3.68 2.70 3.44 1.38 1.87 3.34 3.85 10.56
Operating Profit -0.39 -4.15 -1.68 -1.44 -1.16 -0.13 -0.86 1.19 0.55 -1.22 1.12 -10.56
OPM % -17.18% -88.68% -67.20% -58.06% -46.03% -5.06% -33.33% 46.30% 22.73% -57.55% 22.54%
Other Income 5.57 8.39 7.50 4.67 21.06 2.91 2.13 0.74 1.20 3,238.01 35.94 5.41
Interest 0.07 0.06 0.07 0.07 0.08 0.09 0.08 0.09 0.06 0.00 0.00 0.00
Depreciation 0.21 0.36 0.18 0.18 0.15 0.16 0.16 0.15 0.18 0.18 0.15 0.15
Profit before tax 4.90 3.82 5.57 2.98 19.67 2.53 1.03 1.69 1.51 3,236.61 36.91 -5.30
Tax % 28.16% 38.74% 30.70% 17.45% 25.52% -175.10% 16.50% 11.24% 19.21% 22.42% 24.79% 45.66%
Net Profit 3.52 2.34 3.86 2.46 14.65 6.96 0.86 1.50 1.22 2,510.84 27.76 -2.88
EPS in Rs 1.25 0.83 1.36 0.87 5.16 2.45 0.30 0.52 0.42 840.25 9.70 -1.01

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0 0 12 16 9 10 10 10
0 0 19 27 7 15 11 20
Operating Profit 0 -0 -7 -11 2 -5 -1 -10
OPM % -53% -73% 21% -52% -9% -106%
Other Income 0 0 15 14 20 24 27 3,281
Interest 0 0 0 1 0 0 0 0
Depreciation 0 0 0 1 1 1 1 1
Profit before tax 0 -0 8 1 21 18 25 3,270
Tax % 0% 26% -45% 31% 30% 4% 22%
Net Profit 0 -0 6 1 14 12 24 2,537
EPS in Rs 2.69 0.55 5.10 4.29 8.35 886.12
Dividend Payout % 0% 0% 0% 0% 35% 24% 110%
Compounded Sales Growth
10 Years:%
5 Years:-5%
3 Years:2%
TTM:-7%
Compounded Profit Growth
10 Years:%
5 Years:48%
3 Years:114%
TTM:258%
Stock Price CAGR
10 Years:%
5 Years:-29%
3 Years:-41%
1 Year:-72%
Return on Equity
10 Years:%
5 Years:2%
3 Years:2%
Last Year:7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0 0 12 12 14 14 14 14
Reserves 0 -0 242 262 506 526 547 161
Borrowings 0 0 0 0 0 0 0 0
0 0 11 16 14 17 13 14
Total Liabilities 0 0 264 289 534 558 574 190
0 0 3 14 13 10 9 9
CWIP 0 0 0 2 0 0 9 18
Investments 0 0 166 174 473 482 543 142
0 0 95 100 48 66 13 22
Total Assets 0 0 264 289 534 558 574 190

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0 -0 -17 -7 -0 -6 -2 -741
0 0 14 4 -225 3 10 3,662
0 0 3 3 226 3 -9 -2,920
Net Cash Flow 0 0 0 -0 0 -0 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % -200% 4% 1% 1% -1% 0% 9%
Debtor Days 127 88 179 0 0 0
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
39.65 39.55 39.16 39.44 38.67 38.59 38.46 38.25 38.23 36.77 14.78 14.78
7.14 8.01 7.93 7.95 9.50 9.98 10.29 10.09 13.05 15.20 8.53 1.03
14.85 12.62 12.88 12.41 12.76 12.53 12.85 13.37 10.50 11.95 5.85 1.62
38.36 39.82 40.03 40.21 39.08 38.89 38.40 38.29 38.23 36.08 70.84 82.57

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