PSP Projects Ltd

PSP Projects Limited operates as a construction company. The Company offers industrial, institutional, government, and residential projects construction, as well as allied services including planning, designing, and post-construction activities.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company is expected to give good quarter
Company has good consistent profit growth of 39.32% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 37.56%
Company has been maintaining a healthy dividend payout of 21.46%
Cons:

Peer Comparison Sector: Construction // Industry: Construction

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
86 78 75 162 156 140 171 264 235 210 261 338
74 66 66 128 136 121 144 227 202 181 224 288
Operating Profit 12 11 9 33 20 19 27 36 33 29 37 50
OPM % 14% 14% 13% 21% 13% 13% 16% 14% 14% 14% 14% 15%
Other Income 3 2 5 3 4 5 3 6 6 5 5 7
Interest 2 2 2 2 1 2 2 3 1 2 2 3
Depreciation 2 2 2 2 2 2 3 4 5 6 6 7
Profit before tax 11 10 10 33 21 20 25 35 33 27 33 46
Tax % 33% 37% 29% 37% 35% 35% 38% 34% 36% 34% 35% 34%
Net Profit 8 6 7 21 14 13 15 23 21 18 21 30
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
179 257 210 280 455 401 730 1,044
163 235 194 258 415 335 628 895
Operating Profit 15 22 17 22 39 66 101 149
OPM % 9% 9% 8% 8% 9% 16% 14% 14%
Other Income 2 4 4 7 10 13 18 23
Interest 2 4 2 2 3 8 9 9
Depreciation 3 4 4 5 7 8 11 24
Profit before tax 12 18 15 21 39 64 100 139
Tax % 33% 33% 35% 34% 36% 35% 36%
Net Profit 8 12 10 14 25 42 64 90
EPS in Rs 17.88
Dividend Payout % 0% 7% 16% 5% 19% 17% 28%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:23.19%
3 Years:37.55%
TTM:43.05%
Compounded Profit Growth
10 Years:%
5 Years:39.32%
3 Years:66.67%
TTM:40.20%
Return on Equity
10 Years:%
5 Years:36.86%
3 Years:37.56%
Last Year:31.39%

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
1 1 1 1 3 29 36 36
Reserves 14 26 34 46 63 78 267 335
Borrowings 26 15 26 33 45 68 22 25
51 59 75 106 117 140 261 334
Total Liabilities 92 101 136 186 229 315 585 731
18 18 19 33 52 51 77 103
CWIP 0 0 0 0 0 0 2 0
Investments 0 3 9 13 18 22 23 4
74 79 109 140 158 242 484 623
Total Assets 92 101 136 186 229 315 585 731

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
16 26 20 30 41 13 72
-22 2 -41 -26 -43 -19 -123
9 -14 9 4 3 17 81
Net Cash Flow 3 15 -12 8 0 11 29

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 53% 34% 33% 44% 50% 43%
Debtor Days 39 17 24 31 8 49 58
Inventory Turnover 157.82 123.41 97.04 110.23 113.21 39.89