Noida Toll Bridge Company Ltd

₹ 12.5 -1.96%

06 Dec - close price

ntbcl.com BSE: 532481 NSE - BE : NOIDATOLL

About

Incorporated in 1996, Noida Toll Bridge Company Ltd is set up to develop, establish, construct, operate and maintain a project relating to the construction of the Delhi
Noida Toll Bridge^[1]

Key Points

Business Overview:^[1]^[2]
a) NTBCL is promoted by Infrastructure Leasing and Financial Services Ltd as a special purpose vehicle to develop, construct, operate, and maintain the DND Flyway on a Build Own Operate Transfer basis
b) Operation and Maintenance of the
facility is a part of the Company’s day
to day functioning and is handled in-
house

Website BSE NSE - BE

Market Cap ₹ 232 Cr.
Current Price ₹ 12.5
High / Low ₹ 15.6 / 5.71
Stock P/E
Book Value ₹ 11.7
Dividend Yield 0.00 %
ROCE -11.0 %
ROE -13.8 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.07 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 7.82% over past five years.
Promoter holding is low: 26.4%
Company has a low return on equity of -13.2% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.3.25 Cr.

* 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: Infrastructure Developers & Operators Industry: Construction

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	1.94	3.72	6.31	1.12	6.85	2.17	5.99	6.35	6.32	6.52	4.54	3.24	3.54
	2.83	3.09	3.98	2.16	4.73	3.89	5.66	4.89	5.13	5.21	5.48	3.02	3.96
Operating Profit	-0.89	0.63	2.33	-1.04	2.12	-1.72	0.33	1.46	1.19	1.31	-0.94	0.22	-0.42
OPM %	-45.88%	16.94%	36.93%	-92.86%	30.95%	-79.26%	5.51%	22.99%	18.83%	20.09%	-20.70%	6.79%	-11.86%
	0.15	0.18	0.18	0.16	0.20	0.23	0.51	0.16	1.58	0.66	0.70	0.52	1.37
Interest	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.01	0.00
Depreciation	10.56	10.54	10.31	10.42	10.52	10.50	10.46	10.43	10.55	10.38	9.84	9.93	9.82
Profit before tax	-11.30	-9.73	-7.80	-11.30	-8.21	-12.00	-9.63	-8.82	-7.79	-8.42	-10.08	-9.20	-8.87
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-11.29	-9.73	-7.80	-11.30	-8.22	-12.00	-9.63	-8.83	-7.79	-8.43	-10.09	-9.19	-8.87
EPS in Rs	-0.61	-0.52	-0.42	-0.61	-0.44	-0.65	-0.51	-0.47	-0.42	-0.45	-0.54	-0.49	-0.48
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	95	108	118	123	130	87	16	20	25	13	16	24	18
	27	34	32	37	37	42	26	25	18	12	16	21	18
Operating Profit	68	73	86	87	93	45	-9	-5	7	1	-0	3	0
OPM %	72%	68%	73%	70%	71%	52%	-58%	-24%	27%	10%	-2%	13%	1%
	6	7	6	8	3	2	1	0	5	1	1	3	3
Interest	16	13	9	8	3	6	7	8	0	0	0	0	0
Depreciation	5	2	2	2	32	38	42	43	42	42	42	41	40
Profit before tax	54	66	81	84	61	3	-57	-56	-30	-40	-41	-35	-37
Tax %	15%	36%	34%	5%	-60%	34%	-1%	36%	0%	0%	0%	0%
	46	42	54	80	98	2	-58	-36	-30	-40	-41	-35	-37
EPS in Rs	2.45	2.25	2.90	4.28	5.24	0.12	-3.11	-1.93	-1.63	-2.14	-2.22	-1.89	-1.96
Dividend Payout %	41%	44%	86%	70%	57%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-14%
5 Years:	8%
3 Years:	-1%
TTM:	-14%

Compounded Profit Growth
10 Years:	%
5 Years:	7%
3 Years:	-6%
TTM:	4%

Stock Price CAGR
10 Years:	-5%
5 Years:	9%
3 Years:	23%
1 Year:	56%

Return on Equity
10 Years:	0%
5 Years:	-11%
3 Years:	-13%
Last Year:	-14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	186	186	186	186	186	186	186	186	186	186	186	186	186
Reserves	282	302	302	314	322	290	232	197	166	126	85	50	32
	109	77	25	0	42	55	62	68	67	67	67	67	67
	68	107	137	157	84	61	76	64	62	65	66	80	77
Total Liabilities	645	672	649	658	634	593	557	515	481	444	404	383	362
	577	576	574	572	553	518	497	466	424	382	341	300	280
CWIP	0	0	0	0	0	21	9	0	0	0	0	0	0
Investments	35	52	6	0	22	0	0	0	0	0	0	0	0
	32	44	69	85	59	54	50	49	57	62	62	83	82
Total Assets	645	672	649	658	634	593	557	515	481	444	404	383	362

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	72	70	75	69	71	33	-3	1	10	-1	3	24
	-0	-1	-0	-1	-13	-32	2	0	-9	-0	-2	-24
	-57	-55	-116	-78	-38	-27	0	-0	-0	-0	-0	-0
Net Cash Flow	15	13	-41	-10	21	-26	-1	1	1	-2	1	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	4	6	4	4	10	22	162	128	88	304	185	15
Inventory Days
Days Payable
Cash Conversion Cycle	4	6	4	4	10	22	162	128	88	304	185	15
Working Capital Days	-267	-350	-169	-181	-119	-57	-482	-1,040	-804	-909	-775	-650
ROCE %	11%	13%	16%	18%	12%	2%	-10%	-10%	-7%	-10%	-11%	-11%

Shareholding Pattern

Numbers in percentages

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%
	4.08%	4.08%	3.28%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	0.95%
	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%
	64.18%	64.18%	64.99%	66.60%	66.60%	66.60%	66.60%	66.60%	66.60%	66.60%	66.59%	67.31%
No. of Shareholders	62,121	60,579	60,619	59,894	60,525	61,484	62,735	61,110	59,563	59,129	57,632	57,727

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%	26.37%
	4.33%	0.68%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%
	4.36%	4.10%	4.08%	4.08%	4.08%	1.66%	1.66%	0.95%
	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%	5.37%
	59.57%	63.49%	64.07%	64.18%	64.18%	66.60%	66.60%	67.31%
No. of Shareholders	82,975	73,446	67,403	64,105	60,579	61,484	59,129	57,727

* 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.

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Noida Toll Bridge Company Ltd

Noida Toll Bridge Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports