Reliance Infrastructure Ltd

Reliance Infrastructure Ltd

₹ 209 2.87%
14 Jun - close price
About

Reliance Infrastructure Ltd. is one of the largest infrastructure companies engaged in developing infrastructure projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads, metro rail and airport in the infrastructure space and the defence sector. The Co. is also a leading utility Company having a presence across the value chain of power businesses i.e. generation, transmission, distribution and power trading. [1]

Key Points

Business Segments
Energy: The Co. is engaged in the Generation, Transmission, Distribution and Trading of power. It has a total power generation capacity of 441 MV. The Co. also has 3 active 3 transmission projects. The Co. through BSES Delhi Discom is also engaged in the distribution of power. The Co. is also involved in the trading of surplus power. [1][2]

  • Market Cap 8,278 Cr.
  • Current Price 209
  • High / Low 308 / 135
  • Stock P/E
  • Book Value 221
  • Dividend Yield 0.00 %
  • ROCE 6.99 %
  • ROE -12.6 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.95 times its book value
  • Debtor days have improved from 48.8 to 28.2 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.26% over past five years.
  • Promoter holding is low: 16.5%
  • Company has a low return on equity of -6.54% over last 3 years.
  • Contingent liabilities of Rs.8,489 Cr.
  • Earnings include an other income of Rs.1,157 Cr.
  • Company's cost of borrowing seems high

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
4,179 4,336 5,713 4,202 4,160 6,172 6,229 4,111 4,186 5,565 7,171 4,638 4,686
4,214 4,380 5,167 3,994 4,051 5,838 5,463 3,816 4,349 5,431 6,495 4,113 4,369
Operating Profit -35 -44 547 208 109 334 766 294 -162 134 676 525 317
OPM % -1% -1% 10% 5% 3% 5% 12% 7% -4% 2% 9% 11% 7%
4,277 790 47 724 308 652 213 673 -1,395 313 203 424 616
Interest 702 513 516 504 527 527 567 657 643 571 610 578 552
Depreciation 324 315 308 330 331 350 365 368 366 371 387 379 366
Profit before tax 3,216 -83 -230 98 -442 109 47 -57 -2,565 -495 -118 -7 15
Tax % -0% -6% -5% 6% -0% 3% -6% -14% 0% 0% -5% -228% 136%
3,230 -85 -267 72 -588 71 -25 -127 -2,484 -567 -182 -301 -98
EPS in Rs 61.26 -3.62 -11.64 -4.77 -17.95 -3.28 -6.17 -9.31 -76.90 -19.13 -7.42 -10.63 -5.57
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
22,485 19,151 16,185 26,952 25,229 18,728 19,731 19,990 17,735 19,689 22,303 22,067
19,506 16,340 14,389 22,435 20,455 15,545 24,242 18,607 17,471 17,832 20,972 20,016
Operating Profit 2,979 2,811 1,796 4,518 4,774 3,183 -4,511 1,383 264 1,857 1,331 2,051
OPM % 13% 15% 11% 17% 19% 17% -23% 7% 1% 9% 6% 9%
1,421 1,260 2,768 2,563 3,438 4,281 7,206 3,221 6,754 830 45 1,157
Interest 1,687 1,696 2,347 5,026 5,581 5,204 2,581 2,400 2,727 2,060 2,393 2,310
Depreciation 551 534 833 1,544 1,688 1,254 1,292 1,389 1,352 1,283 1,448 1,503
Profit before tax 2,161 1,841 1,384 511 943 1,006 -1,178 815 2,939 -656 -2,466 -605
Tax % 9% 15% 5% 44% -15% -15% 20% -6% -6% -3% -0% -7%
2,253 1,920 1,725 693 1,394 1,214 -2,323 908 3,116 -868 -2,564 -1,148
EPS in Rs 85.43 72.77 68.45 28.88 54.19 47.74 -92.28 29.32 42.79 -37.98 -91.57 -40.61
Dividend Payout % 9% 10% 12% 29% 17% 20% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 1%
5 Years: 2%
3 Years: 8%
TTM: -1%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -1468%
Stock Price CAGR
10 Years: -12%
5 Years: 30%
3 Years: 30%
1 Year: 38%
Return on Equity
10 Years: 4%
5 Years: 0%
3 Years: -7%
Last Year: -13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 263 263 263 263 263 263 263 263 263 263 352 396
Reserves 25,858 26,328 26,711 21,389 23,084 23,417 13,913 9,529 10,597 12,007 8,942 8,351
21,976 24,289 25,770 30,550 25,814 25,441 17,772 17,147 13,907 12,718 11,510 9,741
18,399 18,048 18,103 48,567 49,121 50,711 36,247 37,921 37,226 37,415 40,096 40,692
Total Liabilities 66,496 68,928 70,847 100,769 98,282 99,832 68,194 64,861 61,994 62,403 60,899 59,181
11,316 10,301 17,697 32,887 36,567 39,393 24,948 23,253 19,505 19,002 19,756 18,042
CWIP 9,941 10,789 5,081 4,971 2,360 3,005 2,592 2,529 2,025 2,198 1,015 1,018
Investments 12,968 18,280 17,618 13,200 13,143 13,092 6,742 1,394 1,769 4,700 4,338 4,029
32,271 29,557 30,451 49,712 46,212 44,342 33,911 37,683 38,696 36,503 35,791 36,092
Total Assets 66,496 68,928 70,847 100,769 98,282 99,832 68,194 64,861 61,994 62,403 60,899 59,181

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,636 4,412 3,290 10,296 8,678 8,153 684 2,875 1,436 3,799 3,458 4,097
-7,696 -5,936 -1,726 -5,690 -75 -805 2,759 -808 18 -502 -1,333 -448
4,163 1,721 -1,707 -4,704 -8,452 -7,428 -3,334 -1,979 -1,531 -2,942 -2,242 -3,648
Net Cash Flow -897 197 -143 -98 152 -80 109 87 -77 356 -117 2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 61 95 124 76 82 106 83 90 81 76 42 28
Inventory Days
Days Payable
Cash Conversion Cycle 61 95 124 76 82 106 83 90 81 76 42 28
Working Capital Days 79 78 110 -85 -111 -309 -261 -276 -219 -242 -279 -274
ROCE % 7% 6% 6% 11% 10% 12% 18% 11% 19% 5% 9%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
4.98% 4.98% 4.98% 4.98% 4.98% 4.98% 4.56% 18.67% 18.65% 16.56% 16.50% 16.50%
2.14% 1.32% 1.33% 1.43% 2.10% 3.05% 11.94% 12.30% 12.92% 12.14% 12.69% 11.77%
5.06% 5.07% 5.06% 4.98% 4.99% 4.96% 3.84% 3.13% 3.06% 2.85% 2.64% 2.16%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
87.62% 88.43% 88.43% 88.42% 87.74% 86.81% 79.49% 65.74% 65.22% 68.33% 68.03% 69.42%
0.17% 0.17% 0.17% 0.17% 0.17% 0.17% 0.16% 0.13% 0.13% 0.11% 0.11% 0.11%
No. of Shareholders 8,41,2448,08,8007,66,5037,68,8717,64,1767,62,5457,26,4657,15,0067,06,9686,94,3136,59,1686,65,729

* 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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