Noida Toll Bridge Company Ltd

About [ edit ]

Noida Toll Bridge Company Ltd was promoted by IL&FS Ltd as a special purpose vehicle for teh implementation of Delhi Noida bridge project on a Build, Own, Operate and Transfer (BOOT) basis.
The Delhi Noida bridge (commonly known as the DND Flyway) was opened to traffic in 2001. It is an eight lane, 7.5 km tolled facility across the Yamuna River, connecting Noida to South Delhi. #

Key Points [ edit ]
  • Market Cap 118 Cr.
  • Current Price 6.35
  • High / Low 8.49 / 2.30
  • Stock P/E
  • Book Value 17.7
  • Dividend Yield 0.00 %
  • ROCE -6.99 %
  • ROE -8.26 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.36 times its book value
  • Debtor days have improved from 126.00 to 88.26 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -27.51% over past five years.
  • Promoter holding is low: 26.37%
  • Company has a low return on equity of -10.20% for last 3 years.
  • Earnings include an other income of Rs.4.46 Cr.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Jun 2018 Sep 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
39.00 4.60 4.83 5.64 6.20 6.47 6.78 5.24 0.97 1.94 3.72
14.41 6.67 6.35 6.79 5.76 4.69 3.64 3.80 1.81 2.83 3.09
Operating Profit 24.59 -2.07 -1.52 -1.15 0.44 1.78 3.14 1.44 -0.84 -0.89 0.63
OPM % 63.05% -45.00% -31.47% -20.39% 7.10% 27.51% 46.31% 27.48% -86.60% -45.88% 16.94%
Other Income 1.67 0.07 0.01 0.23 0.07 0.66 0.16 3.96 0.17 0.15 0.18
Interest 23.25 1.86 2.19 1.97 2.10 -2.08 0.01 0.01 0.00 0.00 0.00
Depreciation 0.33 10.82 11.14 9.79 11.89 9.23 10.52 10.34 10.46 10.56 10.54
Profit before tax 2.68 -14.68 -14.84 -12.68 -13.48 -4.71 -7.23 -4.95 -11.13 -11.30 -9.73
Tax % 2.99% 45.84% 91.31% -5.60% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit 2.60 -7.95 -1.30 -13.39 -13.48 -4.71 -7.23 -4.95 -11.13 -11.29 -9.73
EPS in Rs -0.43 -0.07 -0.72 -0.72 -0.25 -0.39 -0.27 -0.60 -0.61 -0.52
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
80 85 86 95 108 118 123 130 87 16 20 25 12
21 24 24 27 34 32 37 37 43 26 25 18 12
Operating Profit 58 61 61 68 73 86 87 93 44 -9 -5 7 0
OPM % 73% 72% 72% 72% 68% 73% 70% 71% 51% -58% -24% 27% 3%
Other Income 1 2 3 6 7 6 8 3 3 1 0 5 4
Interest 15 17 17 16 13 9 8 3 6 7 8 0 0
Depreciation 5 5 5 5 2 2 2 32 38 42 43 42 42
Profit before tax 40 40 43 54 66 81 84 61 3 -57 -56 -30 -37
Tax % 16% 32% 12% 15% 36% 34% 5% -60% 34% -1% 36% 0%
Net Profit 34 27 37 46 42 54 80 98 2 -58 -36 -30 -37
EPS in Rs 1.80 1.47 2.01 2.45 2.25 2.90 4.28 5.24 0.12 -3.11 -1.93 -1.63 -2.00
Dividend Payout % 0% 0% 25% 41% 44% 86% 70% 57% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:-12%
5 Years:-28%
3 Years:-34%
TTM:-53%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:4%
Stock Price CAGR
10 Years:-13%
5 Years:-24%
3 Years:-21%
1 Year:84%
Return on Equity
10 Years:5%
5 Years:-1%
3 Years:-10%
Last Year:-8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
186 186 186 186 186 186 186 186 186 186 186 186 186
Reserves 204 232 258 282 302 302 314 322 290 232 197 166 144
Borrowings 198 169 139 109 77 25 0 42 55 62 68 65 18
37 37 44 68 107 137 157 84 61 76 64 63 112
Total Liabilities 626 624 627 645 672 649 658 634 593 557 515 481 460
591 585 581 577 576 574 572 553 518 497 466 424 403
CWIP 0 0 0 0 0 0 0 0 21 9 0 0 0
Investments 19 22 24 35 52 6 0 22 0 0 0 0 0
16 16 22 32 44 69 85 59 54 50 49 57 57
Total Assets 626 624 627 645 672 649 658 634 593 557 515 481 460

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
50 51 61 72 70 75 69 71 33 -3 1 10
-3 1 -1 -0 -1 -0 -1 -13 -32 2 0 0
-34 -46 -58 -57 -55 -116 -78 -38 -27 0 -0 -0
Net Cash Flow 13 6 2 15 13 -41 -10 21 -26 -1 1 10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 8% 10% 10% 11% 13% 16% 18% 12% 2% -10% -10% -7%
Debtor Days 4 26 16 4 6 4 4 10 22 162 128 88
Inventory Turnover 5.10 4.86 5.31 7.08 4.98 4.42 5.52 6.04 2.55 2.16 1.26 0.77

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
26.37 26.37 26.37 26.37 26.37 26.37 26.37 26.37 26.37 26.37 26.37 26.37
0.68 0.68 0.44 0.16 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4.10 4.17 4.08 4.09 4.08 4.08 4.08 4.08 4.08 4.08 4.08 4.08
5.37 5.37 5.37 5.37 5.37 5.37 5.37 5.37 5.37 5.37 5.37 5.37
63.49 63.41 63.74 64.02 64.07 64.18 64.18 64.18 64.18 64.18 64.18 64.18

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