NESCO Ltd

NESCO Ltd

₹ 820 2.68%
22 Apr 11:30 a.m.
About

NESCO is engaged in the businesses of Licencing premises in IT park buildings and providing related services, licencing premises for exhibitions and providing services to the organisers, manufacturing of machines and capital equipment, and providing hospitality and catering services.(Source : 202003 Annual Report Page No:74)

Key Points

Business segments
1. IT Parks division:[1] Licensed premises in IT park buildings to large MNCs like HSBC, KPMG, BlackRock etc. Towers 3 and 4 span across 62'301 sq.m and 103'379 sq.m out of which 82% and 97% are currently rented out (FY23). This division has grown from 28 crs. in FY13 to 295 cr. in FY23

  • Market Cap 5,776 Cr.
  • Current Price 820
  • High / Low 934 / 533
  • Stock P/E 16.8
  • Book Value 298
  • Dividend Yield 0.56 %
  • ROCE 21.8 %
  • ROE 16.7 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 24.1 to 15.1 days.

Cons

  • Company has a low return on equity of 13.8% over last 3 years.
  • Dividend payout has been low at 11.4% of profits over last 3 years

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
82 75 73 81 93 91 103 143 143 157 137 175 178
30 28 27 30 32 28 37 42 61 58 50 66 64
Operating Profit 53 48 46 50 61 63 67 101 82 99 86 109 114
OPM % 64% 63% 63% 62% 65% 69% 65% 71% 57% 63% 63% 62% 64%
18 10 13 10 10 12 8 16 19 20 25 23 27
Interest 2 3 2 2 2 3 3 5 3 2 3 5 6
Depreciation 6 6 6 7 7 8 8 8 8 9 14 14 14
Profit before tax 63 49 50 51 61 64 63 104 90 109 94 112 121
Tax % 22% 19% 16% 13% 20% 16% 15% 22% 22% 22% 19% 22% 23%
49 40 42 44 49 54 54 82 70 85 76 88 94
EPS in Rs 6.94 5.64 6.00 6.25 7.01 7.60 7.63 11.63 9.95 12.05 10.80 12.46 13.31
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
128 143 161 194 261 306 304 360 432 291 337 546 646
43 43 51 56 73 92 88 128 153 105 117 178 238
Operating Profit 85 101 110 138 189 214 216 233 278 186 221 368 408
OPM % 66% 70% 68% 71% 72% 70% 71% 65% 64% 64% 65% 67% 63%
17 19 18 28 33 43 36 32 42 65 43 44 94
Interest 1 1 0 0 4 5 6 5 6 8 9 12 15
Depreciation 3 6 11 7 7 8 11 12 22 26 28 33 52
Profit before tax 97 114 117 160 211 244 235 248 292 216 227 367 436
Tax % 30% 28% 31% 30% 32% 30% 25% 27% 20% 20% 16% 21%
67 82 81 112 144 169 177 180 234 172 189 291 343
EPS in Rs 9.55 11.59 11.49 15.83 20.45 24.03 25.08 25.57 33.18 24.48 26.85 41.25 48.62
Dividend Payout % 6% 6% 9% 8% 8% 9% 9% 10% 9% 12% 11% 11%
Compounded Sales Growth
10 Years: 14%
5 Years: 12%
3 Years: 8%
TTM: 35%
Compounded Profit Growth
10 Years: 14%
5 Years: 12%
3 Years: 9%
TTM: 32%
Stock Price CAGR
10 Years: 16%
5 Years: 10%
3 Years: 18%
1 Year: 49%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 14%
Last Year: 17%

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 Sep 2023
Equity Capital 14 14 14 14 14 14 14 14 14 14 14 14 14
Reserves 276 352 425 526 667 837 995 1,154 1,341 1,512 1,681 1,950 2,083
0 0 0 0 0 0 0 0 0 0 1 0 0
91 81 122 137 159 181 170 178 252 293 273 298 356
Total Liabilities 381 447 561 676 840 1,032 1,179 1,346 1,607 1,819 1,969 2,263 2,453
44 158 160 159 165 188 229 213 776 759 846 804 780
CWIP 104 4 5 100 143 262 357 509 2 51 82 86 96
Investments 210 258 368 384 442 482 499 531 672 810 847 1,161 1,354
23 26 28 33 90 99 94 93 157 199 194 212 223
Total Assets 381 447 561 676 840 1,032 1,179 1,346 1,607 1,819 1,969 2,263 2,453

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
73 55 117 103 137 152 143 171 208 139 164 297
-78 -51 -107 -91 -110 -153 -123 -155 -157 -142 -142 -265
0 -6 -8 -11 -25 -0 -19 -20 -47 -0 -21 -24
Net Cash Flow -6 -2 2 0 1 -1 2 -3 4 -3 1 8

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 23 25 25 20 20 13 16 18 14 37 20 15
Inventory Days 131 158 184 313 139 158 107 119
Days Payable 235 253 312 519 166 227 125 147
Cash Conversion Cycle -81 -70 -102 20 20 -193 16 -8 14 -32 2 -12
Working Capital Days -103 -48 -55 -39 -18 -23 -112 -53 -37 -55 2 3
ROCE % 36% 35% 25% 29% 35% 32% 26% 23% 24% 16% 15% 22%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54%
2.14% 2.18% 2.18% 1.99% 1.98% 2.10% 2.37% 2.30% 2.09% 2.79% 3.02% 3.50%
5.31% 4.99% 4.80% 4.83% 4.73% 4.30% 3.95% 3.91% 3.81% 4.07% 4.14% 3.99%
24.02% 24.30% 24.49% 24.64% 24.76% 25.07% 25.14% 25.24% 25.55% 24.60% 24.29% 23.97%
No. of Shareholders 43,01440,72237,54536,63036,71136,12735,98737,63137,52536,25145,87146,796

* 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.

Click on the line-items to see the names of individual entities.

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