Max Estates Ltd
This is the real estate development arm of Max Group. Company is a leading Real Estate player in Delhi - NCR.[1]
- Market Cap ₹ 5,188 Cr.
- Current Price ₹ 352
- High / Low ₹ 380 / 243
- Stock P/E 184
- Book Value ₹ 85.1
- Dividend Yield 0.00 %
- ROCE 3.12 %
- ROE 3.07 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 4.14 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 1.04% over last 3 years.
- Earnings include an other income of Rs.49.6 Cr.
- Working capital days have increased from 818 days to 1,318 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.
Peer comparison
Sector: Realty Industry: Construction
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 37 | 11 | 19 | 39 | 49 | |
| 52 | 18 | 29 | 35 | 49 | |
| Operating Profit | -15 | -7 | -11 | 4 | 0 |
| OPM % | -40% | -63% | -57% | 9% | 0% |
| 1 | 2 | 11 | 10 | 50 | |
| Interest | 5 | 8 | 12 | 7 | 11 |
| Depreciation | 0 | 0 | 1 | 1 | 5 |
| Profit before tax | -19 | -12 | -12 | 5 | 33 |
| Tax % | 0% | 0% | 0% | 0% | 2% |
| -19 | -12 | -12 | 5 | 33 | |
| EPS in Rs | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 65% |
| TTM: | 26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 62% |
| TTM: | 452% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 1% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|
| Equity Capital | 68 | 78 | 78 | 78 | 0 | 147 |
| Reserves | 325 | 331 | 521 | 528 | 1,234 | 1,104 |
| 98 | 218 | 71 | 65 | 205 | 178 | |
| 60 | 16 | 18 | 18 | 32 | 30 | |
| Total Liabilities | 552 | 643 | 689 | 688 | 1,471 | 1,460 |
| 44 | 59 | 75 | 76 | 93 | 94 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 320 | 473 | 497 | 500 | 1,109 | 1,056 |
| 188 | 111 | 116 | 113 | 269 | 309 | |
| Total Assets | 552 | 643 | 689 | 688 | 1,471 | 1,460 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 9 | -24 | 6 | 6 | 1 | |
| -352 | -168 | -49 | 4 | -8 | |
| 346 | 243 | 45 | -13 | 8 | |
| Net Cash Flow | 3 | 51 | 2 | -2 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Debtor Days | 4 | 6 | 10 | 15 | 29 |
| Inventory Days | 469 | 1,933 | 754 | 265 | 62 |
| Days Payable | 363 | 337 | 167 | 62 | 313 |
| Cash Conversion Cycle | 109 | 1,601 | 597 | 219 | -221 |
| Working Capital Days | 1,235 | 1,388 | 721 | 414 | 1,318 |
| ROCE % | -1% | -0% | 2% | 3% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Earning Conference Call intimation for Q4 & FY 24.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
14 May - Copy of the newspaper publication for the postal ballot dated April 30, 2024.
- Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 14 May
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 13 May
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 2 May
Annual reports
Concalls
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
Max Group[1]
The company is a part of Max Group which has nurtured strong companies over the last 40 years like Max Life, Max asset services, Max health Insurance etc.