PTC India Ltd

PTC India is principally engaged in trading of power.

Pros:
Stock is trading at 0.71 times its book value
Stock is providing a good dividend yield of 5.20%.
Company has been maintaining a healthy dividend payout of 33.06%
Cons:
Promoter holding is low: 16.22%
Company has a low return on equity of 9.26% for last 3 years.

Peer Comparison Sector: Trading // Industry: Trading

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
3,043 3,644 4,050 3,112 3,269 2,966 3,488 2,700 2,162 3,387 4,535 2,922
2,939 3,571 3,959 3,058 3,179 2,877 3,395 2,614 2,068 3,293 4,403 2,830
Operating Profit 105 73 91 54 90 89 94 86 93 95 132 93
OPM % 3% 2% 2% 2% 3% 3% 3% 3% 4% 3% 3% 3%
Other Income -23 40 102 21 76 43 125 18 18 32 65 13
Interest 1 31 47 13 45 35 53 16 13 31 56 25
Depreciation 1 1 1 0 1 1 1 1 1 1 1 1
Profit before tax 79 82 145 62 121 96 165 87 98 94 141 79
Tax % 50% 31% 22% 31% 35% 32% 21% 32% 34% 35% 32% 35%
Net Profit 40 56 113 43 79 65 131 59 64 61 96 51
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
3,706 3,844 6,442 7,679 8,908 7,613 8,866 11,414 13,018 12,476 14,075 18,189 13,006
3,676 3,825 6,416 7,614 8,765 7,467 8,694 11,097 12,744 12,207 13,764 17,825 12,594
Operating Profit 30 19 26 64 142 146 172 317 274 268 311 364 412
OPM % 1% 0% 0% 1% 2% 2% 2% 3% 2% 2% 2% 2% 3%
Other Income 19 43 98 74 62 51 12 59 37 184 238 203 127
Interest 3 2 4 1 2 27 2 7 5 105 137 120 125
Depreciation 1 1 6 6 5 4 4 4 4 4 3 3 3
Profit before tax 46 59 113 132 197 166 178 364 301 344 409 445 412
Tax % 23% 17% 20% 29% 30% 27% 28% 31% 33% 32% 29% 28%
Net Profit 35 49 91 94 139 120 129 251 203 234 291 319 273
EPS in Rs 2.17 1.97 3.73 3.00 4.45 3.84 4.08 8.22 6.61 7.92 9.83 10.78
Dividend Payout % 43% 47% 30% 38% 32% 37% 37% 24% 32% 32% 31% 37%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:16.82%
5 Years:15.46%
3 Years:11.79%
TTM:4.69%
Compounded Profit Growth
10 Years:22.55%
5 Years:19.93%
3 Years:12.08%
TTM:-18.21%
Return on Equity
10 Years:7.67%
5 Years:9.33%
3 Years:9.26%
Last Year:10.05%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
150 227 227 295 295 295 296 296 296 296 296 296 296
Reserves 116 1,252 1,309 1,802 1,885 1,955 2,030 2,212 2,343 2,590 2,779 2,924 2,921
Borrowings 0 0 0 0 0 0 0 0 0 734 721 689 1,064
229 226 310 399 633 1,363 1,198 1,209 1,741 2,820 3,061 2,549 3,641
Total Liabilities 494 1,706 1,847 2,496 2,813 3,613 3,524 3,717 4,380 6,440 6,856 6,458 7,922
17 52 47 42 38 34 33 30 27 25 25 23 23
CWIP 1 1 1 1 0 0 0 0 0 0 0 0 0
Investments 211 1,326 799 876 1,053 824 924 960 1,454 1,369 2,268 1,746 1,598
266 326 1,000 1,577 1,722 2,755 2,567 2,727 2,899 5,046 4,563 4,688 6,302
Total Assets 494 1,706 1,847 2,496 2,813 3,613 3,524 3,717 4,380 6,440 6,856 6,458 7,922

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
10 17 -88 -74 -147 -853 452 234 258 -181 941 -299
-4 -1,115 616 -12 156 585 -94 -334 -142 323 -704 655
-17 1,174 -27 455 -42 -77 -50 -54 -66 -230 -230 -243
Net Cash Flow -11 76 502 369 -33 -345 308 -154 50 -88 7 114

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 15% 6% 7% 6% 9% 7% 8% 15% 13% 14% 14% 15%
Debtor Days 16 17 20 25 40 124 88 67 71 108 85 66
Inventory Turnover 367.31 296.71 1,246.77