PSP Projects Ltd

₹ 599 0.40%
18 Aug - 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]
It has completed 153 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]

  • Market Cap 2,158 Cr.
  • Current Price 599
  • High / Low 672 / 405
  • Stock P/E 13.0
  • Book Value 190
  • Dividend Yield 0.67 %
  • ROCE 35.0 %
  • ROE 26.6 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 31.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.6%
  • Company's median sales growth is 40.9% of last 10 years

Cons

* 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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
307 313 423 456 107 243 390 501 317 390 486 555 345
265 269 369 406 106 219 343 439 278 336 412 467 298
Operating Profit 43 43 54 51 1 25 47 62 39 55 74 88 47
OPM % 14% 14% 13% 11% 1% 10% 12% 12% 12% 14% 15% 16% 14%
5 7 6 7 5 5 1 4 4 5 8 5 6
Interest 3 4 4 4 3 4 3 5 3 4 10 9 6
Depreciation 6 6 7 8 6 6 6 7 5 7 9 10 9
Profit before tax 39 40 49 46 -3 19 39 55 34 49 63 74 38
Tax % 35% 19% 25% 26% 25% 22% 28% 25% 27% 25% 25% 27% 26%
Net Profit 26 33 37 34 -2 14 28 41 25 37 47 54 28
EPS in Rs 7.09 9.09 10.21 9.52 -0.62 4.00 7.76 11.30 6.97 10.16 13.03 14.95 7.91

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 1,777
121 163 235 194 258 415 335 628 895 1,308 1,106 1,492 1,513
Operating Profit 6 15 22 17 22 39 66 102 149 191 135 257 264
OPM % 5% 9% 9% 8% 8% 9% 16% 14% 14% 13% 11% 15% 15%
1 2 4 4 7 10 13 18 23 25 14 21 23
Interest 1 2 4 2 2 3 8 9 9 15 15 26 29
Depreciation 1 3 4 4 5 7 8 11 24 27 26 32 35
Profit before tax 5 12 18 15 21 39 64 100 139 174 109 219 223
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 81 162 166
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 46.05
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: 22%
Compounded Profit Growth
10 Years: 35%
5 Years: 31%
3 Years: 22%
TTM: 51%
Stock Price CAGR
10 Years: %
5 Years: 14%
3 Years: 6%
1 Year: 42%
Return on Equity
10 Years: 27%
5 Years: 26%
3 Years: 25%
Last Year: 27%

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

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 135 115 132 183 175 133 199 164 140 148 240 188
Cash Conversion Cycle -89 -68 -108 -152 -132 -117 -142 -60 -24 -27 -92 -64
Working Capital Days -43 -42 -44 -71 -97 -63 -55 -44 -8 16 24 30
ROCE % 47% 53% 34% 33% 44% 50% 44% 41% 41% 22% 35%

Shareholding Pattern

Numbers in percentages

5 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
73.68 73.68 73.82 73.96 74.16 74.19 74.19 74.19 69.88 70.16 70.20 70.39
1.20 1.21 1.27 1.27 1.27 1.27 1.29 1.29 1.27 1.71 1.78 1.89
6.72 6.44 5.74 5.82 5.82 5.41 5.52 3.97 4.95 5.72 4.77 4.82
18.40 18.67 19.17 18.94 18.75 19.13 19.00 20.55 23.89 22.41 23.24 22.90

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