MEP Infrastructure Developers Ltd

MEP Infrast. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

MEP Infrastructure Developers Ltd

₹ 11.8 -1.26%
21 Sep - close price
mepinfra.com BSE: 539126 NSE : MEP
About

MEP Infrastructure Developers Ltd is engaged in the business of construction, operation, and maintenance of road infrastructure in India, with a focus on serving the Central and State road authorities. [1]

Key Points

Services
BOT & HAM: In the Build-Operate-Transfer (BOT) space, the Co. is handling Operations, Maintenance, and Toll Collection of the road assets. Under the Hybrid Annuity Model, 60% of the total project cost is contributed by the developer, and the balance of 40% is invested by the Government during the construction period in five equal installments linked to project milestones.
OMT Services: The Co’s OMT activities include road maintenance and property management, renewal and engineering improvement, and incident management amongst others.
Toll Management: The Co. specializes in toll management and also possesses the required expertise in the installation of electronic toll and cash collection systems, communication networks, and intelligent transportation systems. [1]

Website BSE NSE
  • Market Cap ₹ 217 Cr.
  • Current Price ₹ 11.8
  • High / Low ₹ 21.3 / 9.50
  • Stock P/E
  • Book Value ₹ 14.9
  • Dividend Yield 0.00 %
  • ROCE -14.4 %
  • ROE -38.8 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.79 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.09%
  • The company has delivered a poor sales growth of -47.4% over past five years.
  • Company has a low return on equity of -27.1% over last 3 years.
  • Contingent liabilities of Rs.111 Cr.
  • Promoters have pledged 92.0% of their holding.
  • Debtor days have increased from 60.0 to 107 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: Infrastructure Developers & Operators Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
42 94 108 123 80 35 46 33 16 8 16 20 16
53 104 118 140 66 32 26 62 44 16 13 80 31
Operating Profit -11 -10 -10 -17 15 2 21 -29 -28 -9 3 -60 -15
OPM % -27% -11% -9% -14% 19% 7% 44% -91% -179% -113% 19% -300% -90%
8 6 6 -91 13 8 5 47 1 3 5 4 3
Interest 16 17 15 14 12 10 8 12 11 9 9 13 9
Depreciation 15 8 8 11 25 20 20 18 3 2 2 1 1
Profit before tax -35 -30 -28 -132 -9 -20 -2 -13 -42 -17 -3 -70 -22
Tax % 1% 1% 1% 0% -21% 3% -6% -5% -0% -0% -4% 0% 8%
-34 -29 -27 -131 -11 -19 -2 -14 -42 -17 -3 -70 -20
EPS in Rs -1.87 -1.60 -1.49 -7.15 -0.58 -1.05 -0.09 -0.75 -2.28 -0.91 -0.17 -3.80 -1.09
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
723 912 487 907 695 781 1,477 1,869 1,370 367 194 60 60
690 858 465 866 75 163 1,257 1,649 1,467 414 185 154 140
Operating Profit 33 54 22 41 621 617 220 220 -98 -47 9 -94 -81
OPM % 5% 6% 4% 4% 89% 79% 15% 12% -7% -13% 5% -158% -135%
52 2 12 25 45 29 14 13 34 -71 72 13 15
Interest 54 28 27 35 56 61 52 64 70 63 43 42 39
Depreciation 1 2 3 6 565 559 118 122 52 43 82 8 7
Profit before tax 30 26 4 25 44 27 64 47 -185 -224 -44 -131 -111
Tax % 39% 35% 42% 36% 31% 34% 37% 36% 24% 1% -5% 0%
18 16 2 16 30 18 40 30 -141 -222 -46 -131 -110
EPS in Rs 1.81 1.65 0.24 1.45 1.86 1.09 2.47 1.64 -7.67 -12.11 -2.48 -7.16 -5.97
Dividend Payout % 0% 0% 0% 0% 11% 23% 12% 18% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -24%
5 Years: -47%
3 Years: -65%
TTM: -54%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 2%
TTM: 9%
Stock Price CAGR
10 Years: %
5 Years: -25%
3 Years: -7%
1 Year: -13%
Return on Equity
10 Years: -7%
5 Years: -17%
3 Years: -27%
Last Year: -39%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
100 100 100 111 163 163 163 183 183 183 183 183
Reserves 97 113 118 147 425 438 475 634 487 265 220 90
328 182 221 395 443 390 363 399 419 341 288 272
402 25 38 207 567 882 1,029 1,327 1,765 1,907 1,074 1,091
Total Liabilities 927 420 476 861 1,598 1,873 2,030 2,544 2,855 2,696 1,766 1,635
10 12 15 11 344 157 73 43 93 88 36 18
CWIP 0 0 0 0 0 1 0 0 0 0 0 0
Investments 29 32 71 210 522 670 779 819 853 853 841 424
889 377 391 640 732 1,045 1,178 1,682 1,909 1,755 890 1,194
Total Assets 927 420 476 861 1,598 1,873 2,030 2,544 2,855 2,696 1,766 1,635

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-245 241 11 -9 85 84 281 -120 189 103 -152 6
59 -12 -24 -159 -388 39 -205 -16 -107 45 248 12
201 -250 14 157 308 -116 -80 129 -83 -152 -97 -16
Net Cash Flow 15 -21 1 -11 5 7 -4 -6 -1 -5 -1 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 2 10 17 16 0 17 22 15 14 66 7 107
Inventory Days
Days Payable
Cash Conversion Cycle 2 10 17 16 0 17 22 15 14 66 7 107
Working Capital Days 117 14 55 32 -105 -47 -0 19 -69 -408 -633 -1,920
ROCE % 25% 12% 8% 11% 12% 9% 12% 10% -10% -7% -8% -14%

Shareholding Pattern

Numbers in percentages

1 Recently
Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
61.71% 61.71% 62.04% 61.98% 61.98% 58.25% 58.16% 57.90% 44.00% 43.46% 42.36% 41.27%
3.89% 3.71% 3.71% 3.73% 3.71% 3.89% 4.11% 3.83% 4.33% 4.05% 4.00% 3.95%
7.42% 7.42% 7.42% 7.42% 7.42% 7.81% 5.90% 5.30% 5.25% 5.17% 5.14% 5.60%
26.98% 27.16% 26.83% 26.87% 26.89% 30.05% 31.83% 32.97% 46.41% 47.32% 48.50% 49.17%
No. of Shareholders 16,42517,65818,99221,44921,64823,59825,61426,08228,39627,80527,81528,089

* 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.

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