Sadbhav Engineering Ltd

Sadbhav Engineering Ltd

₹ 31.0 4.91%
19 Apr - close price
About

Incorporated in 1988, Sadbhav Engineering
Ltd is an EPC contractor of road construction, mining and irrigation[1]

Key Points

Business Overview:[1]
SEL, part of the Sadhbhav Group in Ahmedabad, focuses on infrastructure development. Their services span canals, irrigation, roads, bridges, and mining, covering civil, electrical, and mechanical contracting. They operate on BOT, BOLT, and BOOT models and undertake EPC contracts with subsidiaries

  • Market Cap 532 Cr.
  • Current Price 31.0
  • High / Low 40.4 / 9.85
  • Stock P/E
  • Book Value 7.34
  • Dividend Yield 0.00 %
  • ROCE 4.85 %
  • ROE -60.2 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 4.23 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.57%
  • The company has delivered a poor sales growth of -18.6% over past five years.
  • Company has a low return on equity of -32.8% over last 3 years.
  • Contingent liabilities of Rs.169 Cr.
  • Promoters have pledged 80.4% of their holding.
  • Debtor days have increased from 55.9 to 79.2 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: Construction Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
696 623 398 337 517 657 500 418 432 426 711 438 301
491 478 294 241 368 1,352 412 274 401 641 558 332 245
Operating Profit 205 146 104 95 149 -696 88 144 31 -216 153 107 56
OPM % 29% 23% 26% 28% 29% -106% 18% 35% 7% -51% 22% 24% 19%
93 131 29 107 87 533 -19 -266 76 240 19 -225 -70
Interest 265 266 253 258 165 300 261 221 258 -79 143 151 140
Depreciation 61 43 40 40 37 49 36 36 25 34 33 32 32
Profit before tax -27 -32 -160 -96 33 -512 -228 -378 -176 69 -4 -302 -186
Tax % -51% 61% 6% 0% -17% -2% -4% 1% 2% -15% -333% 3% 2%
-41 -12 -150 -96 39 -522 -238 -373 -173 79 -16 -293 -183
EPS in Rs -1.42 0.24 -6.39 -3.76 1.54 -33.62 -10.05 -15.12 -7.70 -1.45 -0.60 -12.25 -8.57
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
2,866 2,160 2,733 3,447 4,066 4,498 4,975 5,240 3,487 2,243 1,908 1,777 1,876
2,450 1,829 2,290 2,861 3,064 3,302 3,493 3,759 2,342 1,645 2,255 1,729 1,776
Operating Profit 417 331 443 586 1,002 1,196 1,481 1,481 1,145 598 -348 48 100
OPM % 15% 15% 16% 17% 25% 27% 30% 28% 33% 27% -18% 3% 5%
26 163 152 56 107 154 114 319 1,873 377 755 31 -36
Interest 156 304 452 617 1,075 1,191 1,313 1,329 1,411 1,003 975 661 356
Depreciation 86 171 130 223 233 321 358 392 401 211 167 131 130
Profit before tax 200 18 12 -198 -199 -162 -76 79 1,206 -239 -735 -713 -422
Tax % 40% 237% -118% -17% -11% -6% -50% 168% 8% 1% 1% 2%
117 -30 26 -235 -221 -172 -114 -54 1,106 -237 -728 -699 -413
EPS in Rs 8.13 0.50 2.93 -10.23 -6.02 -3.15 -0.18 1.23 46.21 -9.03 -42.18 -34.34 -22.87
Dividend Payout % 7% 121% 24% -7% -12% -24% -555% 81% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -2%
5 Years: -19%
3 Years: -20%
TTM: -7%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -17%
TTM: 87%
Stock Price CAGR
10 Years: -13%
5 Years: -33%
3 Years: -20%
1 Year: 204%
Return on Equity
10 Years: -15%
5 Years: -24%
3 Years: -33%
Last Year: -60%

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 15 15 15 17 17 17 17 17 17 17 17 17 17
Reserves 1,158 1,195 1,235 1,520 992 889 874 818 1,584 1,428 784 158 109
3,487 4,564 5,572 6,963 9,001 10,080 10,056 11,143 6,768 7,103 6,159 5,151 4,507
912 872 1,049 3,433 2,748 2,804 3,913 4,024 3,839 3,842 3,968 4,377 3,842
Total Liabilities 5,573 6,646 7,871 11,933 12,759 13,790 14,860 16,002 12,207 12,390 10,928 9,704 8,475
1,252 3,204 5,292 7,721 8,730 10,057 9,792 9,727 4,461 4,234 411 318 254
CWIP 2,611 1,636 775 2,010 1,579 190 291 96 99 100 4 4 4
Investments 40 33 128 31 33 60 48 105 730 730 177 122 1
1,670 1,774 1,675 2,171 2,418 3,484 4,727 6,074 6,917 7,327 10,336 9,260 8,215
Total Assets 5,573 6,646 7,871 11,933 12,759 13,790 14,860 16,002 12,207 12,390 10,928 9,704 8,475

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
605 212 786 385 787 366 1,274 245 597 1,184 -3,095 1,788
-2,031 -1,097 -1,441 -1,357 -1,676 -220 -94 -4 1,311 118 5,252 32
1,483 753 706 1,037 810 -186 -1,126 -226 -1,947 -1,288 -2,107 -1,870
Net Cash Flow 56 -132 52 64 -79 -41 53 15 -38 14 49 -50

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 88 120 77 72 73 129 102 76 13 27 62 79
Inventory Days 98 139 158 106 54 53 55 85 142 148 187 98
Days Payable 368 481 375 235 150 243 236 283 703 946 1,170 2,018
Cash Conversion Cycle -182 -222 -140 -57 -23 -60 -79 -122 -549 -772 -922 -1,841
Working Capital Days 62 103 42 58 29 84 106 41 123 241 484 521
ROCE % 9% 5% 5% 5% 9% 9% 11% 12% 11% 8% 5% 5%

Shareholding Pattern

Numbers in percentages

40 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
44.89% 44.86% 44.86% 44.63% 40.57% 38.57% 37.69% 37.69% 37.69% 37.69% 37.79% 36.22%
4.39% 4.39% 4.23% 3.37% 2.92% 0.96% 0.15% 0.10% 0.10% 0.10% 0.10% 0.30%
22.17% 15.60% 14.73% 14.50% 13.84% 12.96% 10.95% 10.88% 10.88% 10.82% 9.20% 8.92%
28.55% 35.16% 36.18% 37.51% 42.67% 47.52% 51.22% 51.32% 51.31% 51.39% 52.90% 54.57%
No. of Shareholders 42,06562,63365,56266,40570,54571,06472,13770,64968,54266,60961,44264,398

* 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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