Route Mobile Ltd

₹ 1,569 -0.61%

21 Sep - close price

About

Route Mobile is a Cloud Communication Platform provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). Their product portfolio includes smart solutions in Messaging, Voice, Email, and SMS Filtering, Analytics & Monetization. It was incorporated in 2004. It was listed in September, 2020. The promoters have over 2 decades of experience in the software and the communications sector. ^[1] ^[2] ^[3]

Key Points

Business Segments
Enterprise: Provides cloud based communication platform to enterprises to enable digital communication through multiple channels including RCS, A2P / P2A messaging, 2Way Messaging, etc,.
Mobile Operator: Main service offerings in this segment include SMS analytics, firewall, filtering, monetization and CPaaS and hubbing solutions
Business Process Outsourcing: They provide client support, technical support, booking and collection services ^[1]

Website BSE NSE

Market Cap ₹ 9,823 Cr.
Current Price ₹ 1,569
High / Low ₹ 1,760 / 1,131
Stock P/E 109
Book Value ₹ 180
Dividend Yield 0.70 %
ROCE 9.84 %
ROE 7.98 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 53.7% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 80.5%

Cons

Stock is trading at 8.70 times its book value
Company has a low return on equity of 6.81% over last 3 years.
Earnings include an other income of Rs.91.4 Cr.
Working capital days have increased from 195 days to 338 days

* 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: IT - Software Industry: Computers - Software - Medium / Small

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	101	93	91	91	58	86	90	100	133	142	132	129	146
	91	89	85	81	57	78	87	98	127	137	124	119	135
Operating Profit	10	5	6	9	2	8	3	2	6	4	8	10	11
OPM %	10%	5%	7%	10%	3%	9%	4%	2%	4%	3%	6%	8%	8%
	2	2	4	3	5	3	23	5	28	10	44	16	21
Interest	1	1	0	0	0	1	0	1	1	1	1	0	1
Depreciation	2	3	3	3	3	4	4	4	4	4	4	4	4
Profit before tax	10	4	7	9	3	6	22	3	29	10	48	22	28
Tax %	26%	24%	26%	24%	25%	26%	4%	94%	10%	26%	18%	26%	19%
	7	3	5	7	2	4	21	0	26	8	39	17	23
EPS in Rs	1.43	0.48	0.95	1.21	0.41	0.74	3.33	0.02	4.16	1.24	6.30	2.67	3.64
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	16	38	77	105	188	168	195	374	407	376	334	536	550
	14	25	65	90	144	133	175	359	392	346	319	499	515
Operating Profit	2	12	12	15	45	36	20	15	14	30	15	37	34
OPM %	14%	33%	15%	14%	24%	21%	10%	4%	4%	8%	4%	7%	6%
	0	0	1	2	4	40	4	4	5	12	35	90	91
Interest	0	0	1	1	1	1	1	2	3	2	2	2	2
Depreciation	0	1	2	3	3	5	6	5	6	10	15	15	15
Profit before tax	2	12	10	14	45	70	18	13	10	30	33	110	109
Tax %	35%	33%	29%	37%	35%	27%	38%	30%	25%	25%	17%	18%
	1	8	7	9	29	52	11	9	8	22	28	90	86
EPS in Rs	5.25	38.35	36.40	42.80	14.62	10.32	2.19	1.79	1.51	3.87	4.40	14.39	13.85
Dividend Payout %	19%	26%	0%	0%	75%	0%	69%	84%	99%	52%	113%	76%

Compounded Sales Growth
10 Years:	%
5 Years:	22%
3 Years:	10%
TTM:	35%

Compounded Profit Growth
10 Years:	%
5 Years:	54%
3 Years:	77%
TTM:	70%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	31%
1 Year:	13%

Return on Equity
10 Years:	%
5 Years:	7%
3 Years:	7%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	2	2	2	2	20	50	50	50	50	58	63	62
Reserves	1	6	17	24	8	30	34	34	24	287	1,162	1,064
	0	0	2	6	0	18	25	21	41	12	15	13
	4	9	6	14	55	26	50	117	209	233	88	131
Total Liabilities	7	17	28	45	84	124	159	221	324	589	1,328	1,271
	5	8	6	6	10	17	14	11	13	37	60	54
CWIP	0	0	0	0	0	0	0	2	0	1	0	1
Investments	0	0	0	0	1	14	24	35	38	49	55	53
	1	9	21	39	74	92	122	173	273	502	1,213	1,162
Total Assets	7	17	28	45	84	124	159	221	324	589	1,328	1,271

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	6	6	68	-25	-25	25	39	94	-177	-6
	-5	-5	-35	26	9	-9	-11	-202	-593	169
	-0	0	-33	14	-2	-15	-9	215	830	-209
Net Cash Flow	0	2	1	16	-18	1	19	106	61	-46

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	0	6	25	58	31	51	99	94	100	95	122	109
Inventory Days	1	1	0	0	0	0	0	0	0	0	0	0
Days Payable	63	11
Cash Conversion Cycle	-62	-3	25	58	31	51	99	94	100	95	122	109
Working Capital Days	-73	-71	13	28	-68	4	69	20	-18	-74	320	338
ROCE %		207%		54%	154%	112%	18%	13%	23%	13%	5%	10%

Shareholding Pattern

Numbers in percentages

6 Recently

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	66.33%	65.75%	65.35%	65.35%	65.12%	59.98%	59.82%	59.82%	58.56%	58.43%	58.32%	58.32%
	10.34%	15.70%	15.94%	15.61%	15.05%	19.80%	20.15%	19.94%	21.32%	21.11%	20.30%	21.34%
	13.42%	8.22%	5.77%	6.02%	5.89%	6.65%	5.80%	7.03%	7.18%	7.21%	8.15%	6.81%
	9.91%	10.30%	12.94%	13.02%	13.94%	13.56%	13.95%	13.21%	12.94%	13.23%	13.25%	13.53%
	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	52,730	57,660	98,073	1,14,929	1,60,758	1,89,007	2,09,626	2,22,152	2,22,094	2,21,230	2,18,991	2,10,491

	Mar 2021	Mar 2022	Mar 2023	Jun 2023
	65.35%	59.82%	58.32%	58.32%
	15.94%	20.15%	20.30%	21.34%
	5.77%	5.80%	8.15%	6.81%
	12.94%	13.95%	13.25%	13.53%
	0.00%	0.27%	0.00%	0.00%
No. of Shareholders	98,073	2,09,626	2,18,991	2,10,491

* 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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