Sadbhav Infrastructure Projects Ltd

Sadbhav Infrastructure Projects Ltd

₹ 6.78 4.31%
24 Apr 2:55 p.m.
About

Incorporated in 2007, Sadbhav Infrastructure Project Ltd deals in Build Operat and Transfer (BOT)/ Annuity Projects and its related
activities[1]

Key Points

Business Overview:[1][2]
SIPL is a subsidiary of SEL and an asset holding company for road and other Infrastructure BOT projects. It does development, operation and maintenance of road infrastructure assets. SIPL undertakes infrastructure development projects through Special Purpose Vehicles (SPVs) as per concession agreements

  • Market Cap 239 Cr.
  • Current Price 6.78
  • High / Low 9.31 / 3.50
  • Stock P/E 1.31
  • Book Value -10.3
  • Dividend Yield 0.00 %
  • ROCE 12.3 %
  • ROE 172 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -18.3% over past five years.
  • Company has a low return on equity of -22.6% over last 3 years.
  • Contingent liabilities of Rs.413 Cr.
  • Promoters have pledged 98.2% of their holding.
  • Working capital days have increased from 459 days to 748 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.

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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
337 406 195 225 198 345 320 163 185 157 240 161 204
206 332 120 160 105 390 223 75 85 64 135 74 123
Operating Profit 131 73 75 65 92 -45 97 88 100 93 105 87 80
OPM % 39% 18% 39% 29% 47% -13% 30% 54% 54% 59% 44% 54% 39%
85 137 30 78 94 521 -62 -227 4 151 15 -250 -80
Interest 222 232 227 223 130 270 220 208 228 -109 111 121 101
Depreciation 37 21 20 21 21 36 24 24 15 24 25 25 26
Profit before tax -43 -43 -141 -101 35 170 -209 -371 -138 329 -15 -309 -127
Tax % -33% -38% 6% -2% -14% -3% -4% 3% 1% -5% -40% 4% 3%
-56 -59 -133 -104 40 175 -218 -358 -137 345 -21 -296 -123
EPS in Rs -1.60 -1.68 -3.78 -2.94 1.14 4.98 -6.18 -10.17 -3.89 9.71 -0.66 -8.52 -3.53
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
176 287 371 511 1,971 1,348 2,262 3,548 2,270 1,281 962 825 762
83 120 129 227 1,320 479 1,218 2,500 1,414 899 775 446 396
Operating Profit 93 167 242 284 651 869 1,044 1,048 856 382 187 379 365
OPM % 53% 58% 65% 56% 33% 64% 46% 30% 38% 30% 19% 46% 48%
23 31 22 40 99 56 60 236 1,815 372 723 -131 -164
Interest 72 195 355 526 977 1,056 1,141 1,175 1,276 877 850 547 224
Depreciation 22 50 92 142 136 221 261 296 293 117 98 86 100
Profit before tax 23 -47 -184 -343 -363 -352 -297 -187 1,103 -240 -38 -386 -122
Tax % 57% -11% -7% -1% 3% -2% -14% -32% 7% -16% 43% 5%
8 -59 -196 -346 -353 -360 -338 -248 1,029 -278 -21 -365 -95
EPS in Rs 4.05 -17.56 -59.96 -11.04 -9.67 -10.03 -9.34 -6.96 29.35 -7.90 -0.60 -10.65 -3.00
Dividend Payout % 0% -0% 0% 0% 0% 0% -5% -7% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 11%
5 Years: -18%
3 Years: -29%
TTM: -25%
Compounded Profit Growth
10 Years: 12%
5 Years: 17%
3 Years: 29%
TTM: 521%
Stock Price CAGR
10 Years: %
5 Years: -40%
3 Years: -30%
1 Year: 73%
Return on Equity
10 Years: %
5 Years: %
3 Years: -23%
Last Year: 172%

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 24 26 26 311 352 352 352 352 352 352 352 352 352
Reserves 820 943 792 470 103 -281 -618 -901 114 -165 -123 -517 -714
Preference Capital 2 2 2 0 0 0 0 0 0 0 0 0
2,816 3,703 4,996 6,342 8,022 8,320 8,719 9,853 5,912 6,303 5,150 4,072 3,974
332 713 2,808 2,765 1,760 2,043 3,112 3,673 2,919 3,253 3,538 3,793 3,133
Total Liabilities 3,993 5,385 8,622 9,888 10,237 10,435 11,566 12,978 9,297 9,743 8,918 7,699 6,745
747 3,125 7,049 7,185 8,137 9,541 9,292 9,233 4,031 3,942 219 189 172
CWIP 2,622 1,666 777 1,938 1,579 183 289 93 96 96 0 0 0
Investments 17 9 105 8 26 56 42 98 724 726 176 122 41
608 584 691 756 495 655 1,943 3,553 4,446 4,979 8,523 7,388 6,532
Total Assets 3,993 5,385 8,622 9,888 10,237 10,435 11,566 12,978 9,297 9,743 8,918 7,699 6,745

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
107 134 325 264 749 777 603 192 285 769 -195 1,643
-1,458 -904 -939 -1,096 -1,145 -258 -98 -201 253 85 1,087 -191
1,423 698 615 947 315 -556 -500 25 -554 -813 -869 -1,528
Net Cash Flow 72 -72 0 116 -80 -37 5 17 -16 42 23 -75

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 1 1 14 10 1 0 0 3 5 11 5 12
Inventory Days
Days Payable
Cash Conversion Cycle 1 1 14 10 1 0 0 3 5 11 5 12
Working Capital Days -110 17 -343 -246 -71 -83 6 -84 12 14 616 748
ROCE % 3% 3% 3% 2% 7% 8% 10% 10% 11% 9% 16% 12%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34% 70.34%
2.29% 0.25% 0.27% 0.30% 0.30% 0.11% 0.11% 0.06% 0.06% 0.06% 0.06% 0.06%
8.23% 3.06% 2.99% 2.70% 2.49% 1.93% 1.08% 0.66% 0.66% 0.66% 0.66% 0.66%
19.14% 26.35% 26.41% 26.66% 26.87% 27.63% 28.47% 28.94% 28.93% 28.93% 28.93% 28.93%
No. of Shareholders 23,02136,22737,57440,64941,26743,40944,61743,99442,97942,22742,11145,496

* 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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