MEP Infrastructure Developers Ltd

MEP Infrastructure Developers 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 is expected to give good quarter
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Contingent liabilities of Rs.6735.66 Cr.
Promoters have pledged 58.14% of their holding

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
507.91 461.07 447.39 388.99 431.61 380.08 409.08 756.62 776.24 825.34 575.24 718.93
113.15 110.01 112.34 87.90 130.01 198.72 223.24 496.62 530.68 546.86 293.72 478.47
Operating Profit 394.76 351.06 335.05 301.09 301.60 181.36 185.84 260.00 245.56 278.48 281.52 240.46
OPM % 77.72% 76.14% 74.89% 77.40% 69.88% 47.72% 45.43% 34.36% 31.63% 33.74% 48.94% 33.45%
Other Income 19.92 74.30 122.73 17.70 29.57 41.65 29.01 14.60 35.08 15.42 -13.16 14.42
Interest 158.24 124.61 126.75 121.27 120.46 115.90 114.15 120.84 118.72 117.33 116.15 114.07
Depreciation 268.48 246.07 233.17 192.96 195.81 90.78 77.96 127.04 123.14 127.32 148.72 116.18
Profit before tax -12.04 54.68 97.86 4.56 14.90 16.33 22.74 26.72 38.78 49.25 3.49 24.63
Tax % 63.79% 38.59% 36.11% 36.84% 34.43% 27.92% 50.92% 31.62% 35.38% 39.49% 187.97% 61.27%
Net Profit -8.20 33.52 62.42 0.95 12.04 12.97 6.55 24.86 26.59 26.21 0.66 13.10
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 TTM
328 449 1,080 1,280 1,198 2,009 1,905 1,729 2,322 2,896
323 372 731 915 886 1,565 374 440 1,449 1,850
Operating Profit 5 77 349 365 312 444 1,531 1,289 873 1,046
OPM % 2% 17% 32% 29% 26% 22% 80% 75% 38% 36%
Other Income 1 14 56 22 42 32 71 244 125 52
Interest 5 130 377 376 380 404 642 493 470 466
Depreciation 0 39 95 99 130 180 1,012 868 419 515
Profit before tax 0 -77 -66 -88 -156 -107 -52 172 109 116
Tax % 359% -6% 19% -5% 15% -7% 30% 37% 35%
Net Profit -1 -76 -48 -93 -129 -115 -37 109 71 67
EPS in Rs 0.00 6.70 4.37
Dividend Payout % -0% -0% -0% -0% -0% -0% -9% 4% 7%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:12.65%
3 Years:4.95%
TTM:46.44%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:17.97%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:273.04%

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 Sep 2018
11 11 100 100 100 111 163 163 163 183
Reserves 86 10 -38 -131 -188 -338 -275 -170 -103 53
Borrowings 128 3,275 3,150 3,089 3,220 3,336 3,053 2,958 3,032 2,486
4 67 153 378 475 833 2,878 1,979 1,879 2,371
Total Liabilities 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 4,970 5,093
2 2,254 2,207 2,151 2,364 2,156 3,588 2,465 2,479 2,387
CWIP 0 0 0 0 6 16 7 28 27 25
Investments 0 94 3 3 1 32 22 166 240 278
228 1,015 1,155 1,282 1,238 1,738 2,202 2,270 2,225 2,403
Total Assets 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 4,970 5,093

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

Ratios Consolidated / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 3% 10% 9% 7% 10% 20% 17% 19%
Debtor Days 32 23 2 11 9 5 0 7 14
Inventory Turnover