PSP Projects Ltd

PSP Projects Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

PSP Projects Ltd

₹ 687 -1.20%
26 Apr 12:37 p.m.
pspprojects.com BSE: 540544 NSE : PSPPROJECT
About

PSP Projects Limited is a construction company incorporated in August 2008 offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. The principal promoter, Mr. Prahalad S. Patel has over three decades of experience in the construction industry. [1]
It is also engaged in the real estate development of two mid-scale projects in the USA through its subsidiaries [2]

Key Points

Fast Growing construction company
PSP Projects is the second Fastest Growing Construction Company in Small Category in India[1]
As on Sept 2022, It has completed 196 Projects to date, establishing a strong relationship with reputed clientele, and has demonstrated a track record of timely completion of projects which has helped it to secure repeat orders from its existing customers consisting of large pharmaceutical, dairy, and public sector entities. [2]

In December 2021, Commissioned Precast facility in Gujarat with the objective to provide Sustainable Building Solutions and Technological Upgradation.[2]

Website BSE NSE
  • Market Cap ₹ 2,473 Cr.
  • Current Price ₹ 687
  • High / Low ₹ 846 / 598
  • Stock P/E 16.0
  • Book Value ₹ 241
  • Dividend Yield 0.35 %
  • ROCE 24.8 %
  • ROE 18.1 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company's median sales growth is 33.3% of last 10 years

Cons

  • Contingent liabilities of Rs.827 Cr.
  • Promoter holding has decreased over last 3 years: -7.97%

* 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: Construction 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
390 501 317 390 486 555 345 357 497 727 510 607 697
343 439 278 336 412 467 298 318 436 650 445 533 625
Operating Profit 47 62 39 55 74 88 47 39 62 78 65 74 71
OPM % 12% 12% 12% 14% 15% 16% 14% 11% 12% 11% 13% 12% 10%
1 4 4 5 8 5 6 8 6 7 6 6 7
Interest 3 5 3 4 10 9 6 7 10 9 9 12 15
Depreciation 6 7 5 7 9 10 9 9 10 12 12 14 19
Profit before tax 39 55 34 49 63 74 38 31 48 63 49 53 44
Tax % 28% 25% 27% 25% 25% 27% 26% 26% 27% 26% 26% 26% 26%
28 41 25 37 47 54 28 23 35 46 37 39 33
EPS in Rs 7.76 11.30 6.97 10.16 13.03 14.95 7.91 6.37 9.81 12.86 10.20 10.95 9.03
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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
179 257 210 280 455 401 730 1,044 1,499 1,241 1,749 1,927 2,541
163 235 194 258 415 335 628 895 1,308 1,106 1,492 1,699 2,253
Operating Profit 15 22 17 22 39 66 102 149 191 135 257 228 287
OPM % 9% 9% 8% 8% 9% 16% 14% 14% 13% 11% 15% 12% 11%
2 4 4 7 10 13 18 23 25 14 21 24 25
Interest 2 4 2 2 3 8 9 9 15 15 26 32 46
Depreciation 3 4 4 5 7 8 11 24 27 26 32 40 57
Profit before tax 12 18 15 21 39 64 100 139 174 109 219 180 209
Tax % 33% 33% 35% 34% 36% 35% 36% 35% 26% 26% 26% 26%
8 12 10 14 25 42 64 90 129 81 162 133 155
EPS in Rs 104.38 153.12 125.88 175.62 78.53 14.45 17.88 25.07 35.91 22.44 45.11 36.95 43.04
Dividend Payout % 0% 7% 16% 5% 19% 17% 28% 20% 14% 18% 11% 7%
Compounded Sales Growth
10 Years: 22%
5 Years: 21%
3 Years: 9%
TTM: 45%
Compounded Profit Growth
10 Years: 27%
5 Years: 16%
3 Years: 1%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: 8%
3 Years: 18%
1 Year: 2%
Return on Equity
10 Years: 25%
5 Years: 23%
3 Years: 20%
Last Year: 18%

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 1 1 1 1 3 29 36 36 36 36 36 36 36
Reserves 14 26 34 46 63 78 267 335 421 502 649 764 831
26 15 26 33 45 68 22 26 75 81 100 145 400
51 59 75 106 117 140 260 333 427 371 482 811 800
Total Liabilities 92 101 136 186 229 315 584 731 959 990 1,267 1,756 2,067
18 18 19 33 52 51 77 103 108 116 207 240 311
CWIP 0 0 0 0 0 0 2 0 0 42 0 18 12
Investments 0 3 9 13 18 22 20 4 4 1 1 1 1
74 79 109 140 158 242 486 623 847 832 1,059 1,498 1,743
Total Assets 92 101 136 186 229 315 584 731 959 990 1,267 1,756 2,067

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
16 26 20 30 41 13 70 28 19 71 120 43
-22 2 -41 -26 -43 -19 -122 -34 -11 5 -140 -48
9 -14 9 4 3 17 81 -22 -2 -2 -8 12
Net Cash Flow 3 15 -12 8 0 11 29 -28 6 74 -28 6

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 39 17 24 31 8 49 58 50 55 65 65 82
Inventory Days 8 7 7 12 8 9 45 66 66 82 59 96
Days Payable 115 132 183 175 133 199 164 140 148 237 188 232
Cash Conversion Cycle -68 -108 -152 -132 -117 -142 -60 -24 -27 -89 -64 -54
Working Capital Days -42 -44 -71 -97 -63 -55 -44 -8 16 27 30 42
ROCE % 47% 53% 34% 33% 44% 50% 44% 41% 41% 22% 35% 25%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.19% 69.88% 70.16% 70.20% 70.39% 70.45% 67.54% 67.59% 66.22% 66.22% 66.22% 66.22%
1.29% 1.27% 1.71% 1.78% 1.89% 1.97% 2.27% 2.47% 4.20% 4.23% 3.30% 2.31%
3.97% 4.95% 5.72% 4.77% 4.82% 4.40% 4.15% 4.51% 5.33% 5.35% 5.01% 4.53%
20.55% 23.89% 22.41% 23.24% 22.90% 23.18% 26.03% 25.43% 24.26% 24.20% 25.48% 26.94%
No. of Shareholders 19,32522,64528,32435,12335,28536,75036,92136,25236,91142,34648,54145,772

* 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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