RPP Infra Projects Ltd

RPP Infra Projects Ltd

₹ 119 3.22%
19 Apr - close price
About

RPP Infra Projects Limited, incorporated in 1995, is engaged in construction across multiple infrastructure verticals like roads, buildings, industrial structures, power, irrigation and waste management. [1]

Key Points

Business overview
Company is in EPC business with diversified presence in highways, roads & bridges, civil construction (water management), irrigation, mass & affordable housing, and power projects. It has successfully executed 200+ civil construction projects till date across various segments in the southern states, such as Karnataka, Tamil Nadu, Telangana and Andhra Pradesh. [1]

  • Market Cap 450 Cr.
  • Current Price 119
  • High / Low 161 / 41.0
  • Stock P/E 7.55
  • Book Value 109
  • Dividend Yield 0.00 %
  • ROCE 12.8 %
  • ROE 7.63 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.09 times its book value
  • Debtor days have improved from 91.9 to 66.0 days.
  • Company's working capital requirements have reduced from 123 days to 89.9 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -0.41%
  • Company has a low return on equity of 5.12% over last 3 years.
  • Contingent liabilities of Rs.433 Cr.
  • Promoters have pledged 30.9% of their holding.
  • Earnings include an other income of Rs.41.6 Cr.

* 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
198 124 173 226 278 233 256 246 306 243 372 326
187 113 164 212 294 223 249 236 294 230 344 315
Operating Profit 10 11 10 14 -16 10 7 11 11 13 28 11
OPM % 5% 9% 6% 6% -6% 4% 3% 4% 4% 6% 8% 3%
6 2 7 1 4 2 3 6 15 6 6 15
Interest 5 5 6 6 -3 3 4 5 2 3 3 3
Depreciation 1 2 2 2 3 2 2 2 3 2 2 2
Profit before tax 10 6 9 7 -11 6 4 10 21 15 29 21
Tax % 25% 47% 23% 36% 16% 44% 52% 27% 24% 29% 41% 22%
8 3 7 5 -9 4 2 8 16 10 17 16
EPS in Rs 2.02 0.89 1.76 1.25 -2.57 0.98 0.47 2.05 4.31 2.81 4.49 4.25
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
266 260 240 266 314 366 499 581 600 513 802 1,040 1,247
224 220 204 230 268 318 434 519 544 477 776 996 1,183
Operating Profit 42 40 36 36 46 48 65 62 56 36 25 44 64
OPM % 16% 15% 15% 13% 15% 13% 13% 11% 9% 7% 3% 4% 5%
4 3 6 10 5 4 6 9 8 11 14 24 42
Interest 10 17 17 17 20 17 19 24 23 19 20 17 11
Depreciation 8 10 8 7 5 5 7 6 7 6 8 9 9
Profit before tax 28 16 18 21 26 30 45 40 34 22 11 42 86
Tax % 20% 29% 23% 22% 27% 25% 74% 42% 46% 30% 52% 31%
23 11 14 17 19 23 12 23 18 16 5 29 60
EPS in Rs 6.24 3.14 3.86 4.58 5.30 6.30 3.21 6.47 5.02 4.10 1.46 7.80 15.86
Dividend Payout % 5% 10% 8% 7% 6% 5% 10% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 15%
5 Years: 16%
3 Years: 20%
TTM: 23%
Compounded Profit Growth
10 Years: 9%
5 Years: 18%
3 Years: 14%
TTM: 1579%
Stock Price CAGR
10 Years: 8%
5 Years: 6%
3 Years: 40%
1 Year: 186%
Return on Equity
10 Years: 7%
5 Years: 6%
3 Years: 5%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 23 23 23 23 23 23 23 23 23 24 37 37 38
Reserves 86 97 133 148 164 186 197 219 239 256 300 325 375
92 100 97 110 81 98 145 129 97 113 94 79 88
95 63 54 137 124 178 162 235 230 241 331 338 335
Total Liabilities 296 283 306 418 392 484 527 605 589 634 762 780 836
53 48 47 39 26 29 31 52 48 47 62 67 67
CWIP 0 1 3 3 4 4 0 6 4 4 3 2 2
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
242 234 256 375 362 451 496 546 536 582 697 710 767
Total Assets 296 283 306 418 392 484 527 605 589 634 762 780 836

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 -2 18 19 37 34 70 -29 58 52 33 38
-31 -5 0 1 5 -7 -3 -31 1 -3 -17 -12
40 -6 -20 -18 -31 -12 -16 16 -55 7 9 -30
Net Cash Flow -3 -13 -2 2 11 15 52 -44 3 55 25 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 146 151 142 259 195 237 88 108 100 111 99 66
Inventory Days 4 3 4 10 15 16 40 55 57 34 36 19
Days Payable 255 175 116 729 392 503 187 354 270 390 234 119
Cash Conversion Cycle -105 -21 30 -460 -182 -250 -59 -190 -113 -245 -99 -34
Working Capital Days 140 200 265 250 218 209 123 156 144 161 118 90
ROCE % 16% 15% 12% 16% 16% 19% 18% 15% 11% 8% 13%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
55.30% 55.30% 55.30% 55.25% 51.29% 51.29% 51.29% 51.29% 51.29% 51.29% 51.29% 50.88%
2.82% 1.54% 0.14% 0.23% 0.53% 0.26% 0.06% 0.06% 0.06% 0.39% 0.79% 0.84%
1.69% 1.68% 1.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.02% 0.00% 0.00% 0.00% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
40.17% 41.48% 42.87% 44.52% 48.16% 48.46% 48.65% 48.65% 48.65% 48.32% 47.93% 48.29%
No. of Shareholders 6,64111,72924,77624,48825,21424,58324,15323,59624,48623,43724,04520,944

* 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.

Click on the line-items to see the names of individual entities.

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