MEP Infrastructure Developers Ltd

MEP Infrastructure Developers Ltd is into the business of collection of toll and construction of roads along with other ancillary activities such as road repairs and maintenance of flyovers, roads and allied structures.

Pros:
Company has good consistent profit growth of 20.89% over 5 years
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Contingent liabilities of Rs.8941.65 Cr.
Promoters have pledged 47.03% of their holding

Peer Comparison Sector: Infrastructure Developers & Operators // Industry: Construction

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
447 389 432 380 409 757 776 825 575 719 695 614
112 88 130 199 223 497 531 547 294 478 536 497
Operating Profit 335 301 302 181 186 260 246 278 282 240 159 117
OPM % 75% 77% 70% 48% 45% 34% 32% 34% 49% 33% 23% 19%
Other Income 123 18 30 42 29 15 35 15 -13 14 74 78
Interest 127 121 120 116 114 121 119 117 116 114 117 109
Depreciation 233 193 196 91 78 127 123 127 149 116 102 70
Profit before tax 98 5 15 16 23 27 39 49 3 25 15 16
Tax % 36% 37% 34% 28% 51% 32% 35% 39% 188% 61% -14% 109%
Net Profit 62 1 12 13 7 25 27 26 1 13 16 7
EPS in Rs 3.84 0.06 0.74 0.80 0.40 1.53 1.64 1.43 0.04 0.72 0.87 0.30
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 TTM
328 449 1,080 1,280 1,198 2,009 1,905 1,729 2,322 2,815 2,604
323 372 731 915 886 1,565 374 440 1,449 1,855 1,805
Operating Profit 5 77 349 365 312 444 1,531 1,289 873 960 798
OPM % 2% 17% 32% 29% 26% 22% 80% 75% 38% 34% 31%
Other Income 1 14 56 22 42 32 71 244 125 94 153
Interest 5 130 377 376 380 404 642 493 470 464 456
Depreciation 0 39 95 99 130 180 1,012 868 419 494 437
Profit before tax 0 -77 -66 -88 -156 -107 -52 172 109 95 59
Tax % 359% -6% 19% -5% 15% -7% 30% 37% 35% 41%
Net Profit -1 -76 -48 -93 -129 -115 -37 109 71 56 37
EPS in Rs 0.00 6.70 4.37 3.07 1.93
Dividend Payout % -0% -0% -0% -0% -0% -0% -9% 4% 7% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:18.63%
3 Years:13.90%
TTM:-5.92%
Compounded Profit Growth
10 Years:%
5 Years:20.89%
3 Years:59.21%
TTM:-55.96%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:45.79%

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
11 11 100 100 100 111 163 163 163 183
Reserves 86 10 -38 -131 -188 -338 -275 -170 -103 82
Borrowings 128 3,275 3,150 3,089 3,220 3,336 3,053 2,958 3,032 2,768
4 67 153 378 475 833 2,878 1,979 2,190 2,509
Total Liabilities 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 5,282 5,542
2 2,254 2,207 2,151 2,364 2,156 3,588 2,465 2,479 2,082
CWIP 0 0 0 0 6 16 7 28 27 26
Investments 0 94 3 3 1 32 22 166 240 280
228 1,015 1,155 1,282 1,238 1,738 2,202 2,270 2,536 3,154
Total Assets 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 5,282 5,542

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
-151 -346 281 743 470 276 453 463 710 503
43 -2,666 108 -350 -48 -87 -73 -57 -373 -19
115 3,038 -375 -393 -396 -216 -374 -426 -338 -482
Net Cash Flow 7 26 14 -0 25 -27 6 -20 -1 2

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
ROCE % 3% 10% 9% 7% 10% 20% 17% 19% 19%
Debtor Days 32 23 2 11 9 5 0 7 14 11
Inventory Turnover 504.01