PSP Projects Ltd

₹ 637 -0.15%
02 Dec - close price
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]

  • Market Cap 2,293 Cr.
  • Current Price 637
  • High / Low 684 / 447
  • Stock P/E 15.1
  • Book Value 199
  • Dividend Yield 0.79 %
  • ROCE 34.9 %
  • ROE 26.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 31.3% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.5%
  • Company's median sales growth is 40.9% of last 10 years

Cons

  • Promoter holding has decreased over last 3 years: -3.23%

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
313 423 456 107 243 390 501 317 390 486 555 345 357
269 369 406 106 219 343 439 278 336 412 467 298 318
Operating Profit 43 54 51 1 25 47 62 39 55 74 88 47 39
OPM % 14% 13% 11% 1% 10% 12% 12% 12% 14% 15% 16% 14% 11%
7 6 7 5 5 1 4 4 5 8 5 6 8
Interest 4 4 4 3 4 3 5 3 4 10 9 6 7
Depreciation 6 7 8 6 6 6 7 5 7 9 10 9 9
Profit before tax 40 49 46 -3 19 39 55 34 49 63 74 38 31
Tax % 19% 25% 26% 25% 22% 28% 25% 27% 25% 25% 27% 26% 26%
Net Profit 33 37 34 -2 14 28 41 25 37 47 54 28 23
EPS in Rs 9.09 10.21 9.52 -0.62 4.00 7.76 11.30 6.97 10.16 13.03 14.95 7.91 6.37
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
127 179 257 210 280 455 401 730 1,044 1,499 1,241 1,749 1,743
121 163 235 194 258 415 335 628 895 1,308 1,106 1,492 1,495
Operating Profit 6 15 22 17 22 39 66 102 149 191 135 257 248
OPM % 5% 9% 9% 8% 8% 9% 16% 14% 14% 13% 11% 15% 14%
1 2 4 4 7 10 13 18 23 25 14 21 27
Interest 1 2 4 2 2 3 8 9 9 15 15 26 32
Depreciation 1 3 4 4 5 7 8 11 24 27 26 32 37
Profit before tax 5 12 18 15 21 39 64 100 139 174 109 219 206
Tax % 33% 33% 33% 35% 34% 36% 35% 36% 35% 26% 26% 26%
Net Profit 4 8 12 10 14 25 42 64 90 129 81 162 152
EPS in Rs 56.40 104.38 153.12 125.88 175.62 78.53 14.45 17.88 25.07 35.91 22.44 45.11 42.26
Dividend Payout % 0% 0% 7% 16% 5% 19% 17% 28% 20% 14% 18% 11%
Compounded Sales Growth
10 Years: 26%
5 Years: 34%
3 Years: 19%
TTM: 9%
Compounded Profit Growth
10 Years: 34%
5 Years: 31%
3 Years: 21%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: 6%
3 Years: 10%
1 Year: 30%
Return on Equity
10 Years: 27%
5 Years: 26%
3 Years: 25%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
1 1 1 1 1 3 29 36 36 36 36 36 36
Reserves 6 14 26 34 46 63 78 267 335 421 502 649 682
15 26 15 26 33 45 68 22 26 75 81 100 158
31 51 59 75 106 117 140 260 333 427 371 482 540
Total Liabilities 52 92 101 136 186 229 315 584 731 959 990 1,267 1,416
13 18 18 19 33 52 51 77 103 108 116 207 199
CWIP 0 0 0 0 0 0 0 2 0 0 42 0 0
Investments 0 0 3 9 13 18 22 20 4 4 1 1 1
39 74 79 109 140 158 242 486 623 847 832 1,059 1,216
Total Assets 52 92 101 136 186 229 315 584 731 959 990 1,267 1,416

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 16 26 20 30 41 13 70 28 19 71 120
0 -22 2 -41 -26 -43 -19 -122 -34 -11 5 -140
0 9 -14 9 4 3 17 81 -22 -2 -2 -8
Net Cash Flow 0 3 15 -12 8 0 11 29 -28 6 74 -28

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 23 39 17 24 31 8 49 58 50 55 65 65
Inventory Days 24 8 7 7 12 8 9 45 66 66 82 59
Days Payable 135 115 132 183 175 133 199 164 140 148 237 188
Cash Conversion Cycle -89 -68 -108 -152 -132 -117 -142 -60 -24 -27 -89 -64
Working Capital Days -43 -42 -44 -71 -97 -63 -55 -44 -8 16 27 30
ROCE % 47% 53% 34% 33% 44% 50% 44% 41% 41% 22% 35%

Shareholding Pattern

Numbers in percentages

4 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
73.68 73.82 73.96 74.16 74.19 74.19 74.19 69.88 70.16 70.20 70.39 70.45
1.21 1.27 1.27 1.27 1.27 1.29 1.29 1.27 1.71 1.78 1.89 1.97
6.44 5.74 5.82 5.82 5.41 5.52 3.97 4.95 5.72 4.77 4.82 4.40
18.67 19.17 18.94 18.75 19.13 19.00 20.55 23.89 22.41 23.24 22.90 23.18

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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

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