Ramky Infrastructure Ltd

Ramky Infrastructure Ltd

₹ 638 -2.65%
26 Feb - close price
About

Ramky Infrastructure Limited is a flagship company of the Ramky Group. The Co is engaged in the business of construction, infrastructure development and management. [1]

Key Points

Business Segments
EPC Business: The Co operates the EPC business in the following sectors: Water and Waste Water projects such as water treatment plants etc, Roads & Bridges projects such as highways, bridges, expressways, etc, Building Construction such as commercial, residential, public, institutional/corporate buildings, etc, and Irrigation projects such as cross drainage work, barrages, etc.
Developer Business: The Co’s development projects are usually undertaken on a PPP basis with the government and are typically awarded after qualifying through a competitive bidding process. The Co’s developer business segment includes Industrial Parks, Transportation, Integrated Townships, and Energy. [1]

  • Market Cap 4,418 Cr.
  • Current Price 638
  • High / Low 1,009 / 260
  • Stock P/E 13.6
  • Book Value 163
  • Dividend Yield 0.00 %
  • ROCE 26.5 %
  • ROE 26.6 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 26.1% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 1.83% over past five years.
  • Contingent liabilities of Rs.2,493 Cr.
  • Promoters have pledged 25.1% of their holding.

* 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
296 254 221 238 376 464 326 316 391 441 532 534 419
270 227 165 337 278 372 257 258 307 350 388 378 343
Operating Profit 26 28 56 -99 97 92 69 58 84 91 144 156 76
OPM % 9% 11% 25% -42% 26% 20% 21% 18% 21% 21% 27% 29% 18%
15 44 21 147 16 51 20 35 29 13 22 29 21
Interest 19 17 18 16 47 15 16 18 18 19 17 18 19
Depreciation 4 4 4 4 5 5 6 6 7 7 8 9 9
Profit before tax 19 50 55 27 62 122 67 69 88 77 142 158 70
Tax % 10% 4% 4% 31% 28% 98% 26% 28% 24% 38% 25% 23% 31%
17 48 53 19 45 2 49 50 67 48 106 121 48
EPS in Rs 2.41 6.92 7.61 2.72 6.46 0.31 7.12 7.23 9.67 6.97 15.38 17.56 6.92
Raw PDF

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
3,094 3,039 1,755 1,080 1,828 1,525 1,346 1,477 1,254 912 1,298 1,474 1,926
2,771 2,769 2,160 1,436 1,906 1,425 1,376 1,339 1,216 854 1,152 1,172 1,458
Operating Profit 323 270 -405 -357 -77 99 -30 138 38 58 146 302 468
OPM % 10% 9% -23% -33% -4% 7% -2% 9% 3% 6% 11% 20% 24%
37 32 22 25 394 246 317 75 89 97 235 97 85
Interest 118 170 195 271 243 204 145 132 90 75 96 72 73
Depreciation 29 42 46 64 52 47 40 34 26 18 18 27 33
Profit before tax 213 91 -623 -666 21 95 103 47 11 61 267 301 447
Tax % 33% 34% 31% 33% 27% 40% 37% 12% 75% 12% 56% 29%
144 60 -432 -445 15 57 65 41 3 54 118 214 324
EPS in Rs 25.12 10.48 -75.55 -77.88 2.69 10.00 11.36 6.89 0.40 7.80 17.11 30.99 46.83
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -7%
5 Years: 2%
3 Years: 6%
TTM: 29%
Compounded Profit Growth
10 Years: 14%
5 Years: 26%
3 Years: 329%
TTM: 92%
Stock Price CAGR
10 Years: 34%
5 Years: 44%
3 Years: 101%
1 Year: 124%
Return on Equity
10 Years: -6%
5 Years: 17%
3 Years: 19%
Last Year: 27%

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 57 57 57 57 57 57 57 60 69 69 69 69 69
Reserves 910 970 538 151 167 224 290 355 443 497 617 831 1,059
953 1,121 1,408 1,565 1,644 1,334 993 982 747 647 599 594 511
1,982 2,048 1,764 1,693 1,519 1,647 1,239 963 978 927 847 899 1,065
Total Liabilities 3,903 4,197 3,767 3,467 3,387 3,262 2,579 2,359 2,237 2,140 2,132 2,393 2,704
412 405 377 263 211 165 122 86 61 48 74 144 174
CWIP 0 0 7 5 0 0 0 0 0 0 13 3 0
Investments 359 406 419 404 459 487 513 386 389 397 405 413 416
3,132 3,385 2,964 2,794 2,716 2,609 1,944 1,887 1,786 1,696 1,640 1,834 2,114
Total Assets 3,903 4,197 3,767 3,467 3,387 3,262 2,579 2,359 2,237 2,140 2,132 2,393 2,704

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
-12 30 -48 170 105 348 441 26 73 214 228 204
-174 -62 -22 33 65 87 35 115 66 -30 -67 -135
159 45 85 -234 -132 -494 -495 -133 -137 -190 -158 -77
Net Cash Flow -27 13 15 -31 38 -59 -19 8 1 -6 3 -7

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 201 179 196 221 169 245 175 97 107 126 119 130
Inventory Days 334 2,413 741
Days Payable 483 2,982 1,313
Cash Conversion Cycle 52 179 196 -349 -404 245 175 97 107 126 119 130
Working Capital Days 111 127 151 58 70 -19 55 39 72 64 70 97
ROCE % 19% 13% -21% -20% 15% 14% 17% 18% 8% 11% 29% 26%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
69.83% 69.83% 69.83% 69.83% 69.83% 69.83% 69.83% 69.83% 69.83% 69.83% 69.81% 69.81%
0.00% 0.01% 0.02% 0.05% 0.14% 0.12% 0.12% 0.12% 0.07% 0.07% 0.60% 0.56%
0.13% 0.13% 0.13% 0.13% 0.12% 0.00% 0.13% 0.13% 0.13% 0.13% 0.38% 0.43%
30.04% 30.03% 30.02% 30.00% 29.91% 30.06% 29.91% 29.92% 29.97% 29.97% 29.23% 29.21%
No. of Shareholders 18,89118,20117,42418,07719,49819,10818,28717,58916,75816,08516,36616,984

* 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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