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 has reduced debt.
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 49.60% of their holding

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
461 447 389 432 380 409 757 776 825 575 719 695
110 112 88 130 199 223 497 531 547 294 478 536
Operating Profit 351 335 301 302 181 186 260 246 278 282 240 159
OPM % 76% 75% 77% 70% 48% 45% 34% 32% 34% 49% 33% 23%
Other Income 74 123 18 30 42 29 15 35 15 -13 14 74
Interest 125 127 121 120 116 114 121 119 117 116 114 117
Depreciation 246 233 193 196 91 78 127 123 127 149 116 102
Profit before tax 55 98 5 15 16 23 27 39 49 3 25 15
Tax % 39% 36% 37% 34% 28% 51% 32% 35% 39% 188% 61% -14%
Net Profit 34 62 1 12 13 7 25 27 26 1 13 16
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 2,815
323 372 731 915 886 1,565 374 440 1,449 1,855
Operating Profit 5 77 349 365 312 444 1,531 1,289 873 960
OPM % 2% 17% 32% 29% 26% 22% 80% 75% 38% 34%
Other Income 1 14 56 22 42 32 71 244 125 91
Interest 5 130 377 376 380 404 642 493 470 464
Depreciation 0 39 95 99 130 180 1,012 868 419 494
Profit before tax 0 -77 -66 -88 -156 -107 -52 172 109 92
Tax % 359% -6% 19% -5% 15% -7% 30% 37% 35%
Net Profit -1 -76 -48 -93 -129 -115 -37 109 71 56
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:21.23%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-20.71%
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 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 2,229
4 67 153 378 475 833 2,878 1,979 1,879 2,713
Total Liabilities 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 4,970 5,207
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 2,225 2,819
Total Assets 230 3,363 3,365 3,436 3,608 3,942 5,818 4,929 4,970 5,207

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 Figures in Rs. Crores / 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