Shriram Properties Ltd

Shriram Properties Ltd

₹ 124 -2.05%
04 Mar 4:01 p.m.
About

Shriram Properties is a part of Shriram Group.
They are one of the leading residential real estate development companies in South India primarily focused on the mid-market and affordable housing categories.

They are also present in plotted development, mid-market premium, luxury housing as well as commercial & office space categories in our core markets.

They commenced operations in Bengaluru in the year 2000 and have since expanded their presence to other cities in South India, i.e., Chennai, Coimbatore and Visakhapatnam. In addition, they also have presence in Kolkata in East India, where they are developing a large mixed-use project. [1]

Key Points

Part of Shriram group
Shriram Properties is part of the Shriram Group, which is a prominent business group with four decades of operating history in India and a well-recognized brand in the retail financial services sector and several other industries. [1]

  • Market Cap 2,120 Cr.
  • Current Price 124
  • High / Low 141 / 53.0
  • Stock P/E 30.1
  • Book Value 73.2
  • Dividend Yield 0.00 %
  • ROCE 10.1 %
  • ROE 5.61 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 23.4% CAGR over last 5 years
  • Debtor days have improved from 81.8 to 42.6 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding is low: 28.0%
  • Tax rate seems low
  • Company has a low return on equity of 0.11% over last 3 years.
  • Earnings include an other income of Rs.132 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.

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
141 138 42 76 110 205 122 259 176 118 135 206 221
149 134 58 83 82 141 110 229 175 126 104 177 202
Operating Profit -8 4 -16 -7 28 64 13 30 1 -8 31 29 19
OPM % -6% 3% -37% -9% 26% 31% 10% 12% 0% -7% 23% 14% 9%
27 19 19 18 20 32 33 17 46 54 28 25 24
Interest 27 34 30 34 30 26 26 27 23 31 33 26 28
Depreciation 2 1 2 1 1 2 2 2 2 2 2 2 2
Profit before tax -11 -12 -29 -24 17 68 17 18 22 14 24 26 14
Tax % -95% 73% -29% 4% 23% 5% 40% -8% -1% -15% 32% 22% -34%
-21 -3 -37 -23 13 65 10 20 22 16 17 20 18
EPS in Rs -1.43 -0.22 -3.03 -1.57 0.78 3.82 0.52 1.15 1.32 0.90 0.98 1.19 1.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
368 650 572 432 433 674 680
367 652 582 415 358 631 608
Operating Profit 1 -2 -10 17 74 43 72
OPM % 0% -0% -2% 4% 17% 6% 11%
408 203 63 73 87 142 132
Interest 94 113 128 129 122 106 118
Depreciation 2 5 6 7 7 8 9
Profit before tax 312 83 -82 -45 33 72 78
Tax % -10% 41% -6% -51% 45% 5%
343 49 -86 -68 18 68 71
EPS in Rs 23.15 3.39 -5.80 -4.60 0.58 3.88 4.16
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 6%
TTM: -11%
Compounded Profit Growth
10 Years: %
5 Years: 23%
3 Years: 40%
TTM: -39%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 90%
Return on Equity
10 Years: %
5 Years: -3%
3 Years: 0%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 148 148 148 148 170 170 170
Reserves 790 832 756 690 963 1,030 1,076
Preference Capital 0 0 0 0 0 0
807 846 739 727 545 644 654
1,540 1,528 1,759 1,719 1,950 1,791 2,132
Total Liabilities 3,285 3,353 3,403 3,284 3,628 3,634 4,032
30 60 81 76 82 81 82
CWIP 0 8 0 0 0 0 0
Investments 346 296 99 36 39 121 140
2,909 2,989 3,223 3,172 3,507 3,432 3,811
Total Assets 3,285 3,353 3,403 3,284 3,628 3,634 4,032

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-297 -179 129 146 124 5
203 172 100 9 30 -30
122 -7 -227 -119 -100 -9
Net Cash Flow 28 -14 2 36 54 -33

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 156 121 105 112 91 43
Inventory Days 7,272 7,584 10,012 4,839
Days Payable 520 511 716 303
Cash Conversion Cycle 156 6,873 7,178 9,409 91 4,579
Working Capital Days 978 581 699 899 994 715
ROCE % 4% 2% 5% 10% 10%

Shareholding Pattern

Numbers in percentages

36 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
27.98% 28.00% 28.00% 28.00% 28.00% 28.00% 27.99% 27.99% 27.99%
6.86% 6.25% 5.02% 5.03% 4.69% 4.45% 4.51% 5.44% 6.67%
10.71% 44.16% 43.32% 9.37% 9.44% 8.74% 6.43% 4.05% 3.60%
54.46% 21.59% 23.65% 57.59% 57.87% 58.80% 61.05% 62.52% 61.72%
No. of Shareholders 77,80976,65177,97570,76569,21967,57467,96673,71875,395

* 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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Documents

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