PTC India Ltd

About

PTC India is principally engaged in trading of power.

  • Market Cap 2,910 Cr.
  • Current Price 98.3
  • High / Low 113 / 44.6
  • Stock P/E 6.09
  • Book Value 149
  • Dividend Yield 7.63 %
  • ROCE 10.3 %
  • ROE 10.7 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.66 times its book value
  • Stock is providing a good dividend yield of 7.63%.
  • Company has been maintaining a healthy dividend payout of 40.54%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.41% over past five years.
  • Promoter holding is low: 16.22%
  • Company has a low return on equity of 10.27% for last 3 years.
  • Contingent liabilities of Rs.1081.30 Cr.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
5,028 3,304 3,034 5,411 5,225 3,829 3,635 4,631 6,005 3,794 3,917 4,958
4,441 2,855 2,588 4,947 4,658 3,416 3,257 4,227 5,487 3,387 3,552 4,549
Operating Profit 587 449 446 464 567 413 377 404 517 407 364 409
OPM % 12% 14% 15% 9% 11% 11% 10% 9% 9% 11% 9% 8%
Other Income 68 6 24 4 10 6 4 11 7 2 -11 2
Interest 336 305 315 303 295 281 276 248 234 225 215 203
Depreciation 24 24 24 25 25 25 25 25 25 25 25 25
Profit before tax 294 126 129 140 257 112 80 142 266 158 113 183
Tax % 33% 28% 43% 33% 22% 43% 40% 29% 27% 28% 56% 26%
Net Profit 181 76 61 88 186 48 45 91 182 107 69 120
EPS in Rs 6.10 2.55 2.07 2.97 6.28 1.64 1.54 3.07 6.17 3.61 2.32 4.06

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
7,706 9,109 8,021 9,120 12,003 13,838 13,447 15,311 12,766 15,155 18,101 18,346 18,673
7,662 8,865 7,641 8,671 11,171 12,836 12,333 13,918 11,612 13,201 16,275 16,646 16,976
Operating Profit 43 245 380 449 831 1,002 1,114 1,393 1,154 1,954 1,826 1,699 1,698
OPM % 1% 3% 5% 5% 7% 7% 8% 9% 9% 13% 10% 9% 9%
Other Income 144 62 78 15 48 6 154 203 147 130 23 8 -1
Interest 13 47 95 108 228 422 633 802 946 1,243 1,159 928 877
Depreciation 6 10 9 8 9 8 10 21 97 97 100 100 100
Profit before tax 169 250 354 348 642 577 624 772 258 744 589 679 720
Tax % 29% 29% 27% 30% 30% 32% 35% 34% 36% 34% 31% 33%
Net Profit 107 166 204 198 361 256 323 415 200 425 368 449 478
EPS in Rs 5.63 6.92 6.70 12.19 8.66 10.90 14.01 6.75 14.37 12.42 15.16 16.16
Dividend Payout % 33% 27% 22% 24% 16% 25% 23% 21% 59% 28% 44% 49%
Compounded Sales Growth
10 Years:7%
5 Years:6%
3 Years:13%
TTM:8%
Compounded Profit Growth
10 Years:11%
5 Years:8%
3 Years:32%
TTM:29%
Stock Price CAGR
10 Years:4%
5 Years:5%
3 Years:14%
1 Year:107%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:10%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
295 295 295 296 296 296 296 296 296 296 296 296
Reserves 1,839 2,049 2,206 2,338 2,613 2,786 3,255 3,559 3,423 3,666 3,891 4,124
Borrowings 311 570 760 1,587 3,895 5,110 7,724 9,999 12,353 13,320 11,408 11,479
553 1,176 1,852 1,750 1,871 2,477 3,507 4,245 3,181 3,996 5,514 4,769
Total Liabilities 2,998 4,091 5,112 5,971 8,675 10,670 14,782 18,098 19,253 21,278 21,109 20,668
77 68 60 55 54 49 387 2,155 2,061 1,967 1,884 1,787
CWIP 1 0 0 1 1 0 0 0 0 0 0 0
Investments 810 1,057 762 982 866 1,293 1,102 974 400 291 564 972
2,110 2,965 4,290 4,934 7,754 9,328 13,293 14,970 16,792 19,020 18,662 17,909
Total Assets 2,998 4,091 5,112 5,971 8,675 10,670 14,782 18,098 19,253 21,278 21,109 20,668

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-509 -614 -1,152 -370 -1,849 -497 -1,281 111 -1,438 -108 3,294 2,108
-40 155 599 -94 -396 -160 87 -1,374 249 244 -414 -505
742 608 -67 652 2,012 709 1,124 1,353 1,278 -408 -2,570 -1,085
Net Cash Flow 194 150 -620 188 -233 52 -70 91 89 -272 309 518

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 25 40 118 86 64 67 101 78 95 118 141 123
Inventory Days 0 0 2 1 0 0 0 0 0 0 0
Days Payable 62 48
Cash Conversion Cycle 25 40 58 39 64 67 101 78 95 118 141 123
Working Capital Days 22 16 70 45 39 43 51 21 55 76 67 96
ROCE % 8% 11% 14% 12% 16% 14% 13% 12% 8% 12% 11% 10%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
16.22 16.22 16.22 16.22 16.22 16.22 16.22 16.22 16.22 16.22 16.22 16.22
32.60 37.52 38.00 36.22 35.71 36.04 35.32 28.41 26.15 28.70 31.95 34.29
25.02 23.95 22.96 22.63 20.67 20.04 19.03 17.74 15.48 12.88 12.54 10.06
0.01 0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03
26.15 22.30 22.81 24.92 27.38 27.67 29.41 37.61 42.13 42.18 39.26 39.40

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