Smartlink Holdings Ltd

Smartlink Holdings Ltd

₹ 197 -7.22%
24 Apr - close price
About

Smartlink Group has been in the Networking
Products business for 3+ decades and is involved in sourcing, manufacturing, sales, marketing, and support. Smartlink Holdings Ltd. They are now an NBFC with assets which includes investment in the two subsidiary companies.[1]

Key Points

Restructuring
The company was in networking products business for 3+ decades and involved in sourcing, manufacturing, sales, marketing & support, etc. It restructured its operations by splitting its operations in two independent subsidiaries i.e. Digisol Systems Ltd and Synergra EMS Ltd.[1]
Post the restructuring, the income of Smartlink holdings is mainly from investments and rent income from immovable properties.[2]

  • Market Cap 197 Cr.
  • Current Price 197
  • High / Low 227 / 145
  • Stock P/E 1,790
  • Book Value 183
  • Dividend Yield 0.00 %
  • ROCE 1.57 %
  • ROE 0.91 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.08 times its book value
  • Company is expected to give good quarter
  • Promoter holding has increased by 0.89% over last quarter.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 4.08% over last 3 years.
  • Contingent liabilities of Rs.66.4 Cr.
  • Debtor days have increased from 71.4 to 90.2 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: Finance Industry: Finance & Investments

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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
21.62 12.91 15.73 18.26 17.77 27.74 28.61 46.80 37.67 49.98 38.42 51.82 40.17
17.97 12.79 14.88 15.10 16.25 23.70 27.94 45.28 36.10 48.48 38.70 49.18 40.60
Operating Profit 3.65 0.12 0.85 3.16 1.52 4.04 0.67 1.52 1.57 1.50 -0.28 2.64 -0.43
OPM % 16.88% 0.93% 5.40% 17.31% 8.55% 14.56% 2.34% 3.25% 4.17% 3.00% -0.73% 5.09% -1.07%
0.41 1.81 0.04 0.17 0.20 0.52 0.65 0.08 21.21 0.26 0.26 0.02 0.25
Interest 0.26 0.15 0.14 0.20 0.20 0.18 0.11 0.57 0.48 0.56 0.61 0.56 0.50
Depreciation 0.67 0.56 0.57 0.61 0.61 0.60 0.67 0.76 0.78 0.78 0.85 0.87 0.87
Profit before tax 3.13 1.22 0.18 2.52 0.91 3.78 0.54 0.27 21.52 0.42 -1.48 1.23 -1.55
Tax % -1.92% -163.11% -33.33% -9.92% -79.12% -50.26% 96.30% 129.63% 18.63% -330.95% 16.22% 32.52% 21.29%
3.18 3.21 0.24 2.77 1.63 5.69 0.01 -0.08 17.51 1.81 -1.24 0.83 -1.21
EPS in Rs 2.44 2.42 0.28 2.80 1.65 5.68 0.03 -0.02 17.54 1.73 -1.24 0.83 -1.21
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
320 67 70 118 150 104 99 108 75 70 80 163 180
290 45 573 153 176 108 97 105 81 60 70 158 177
Operating Profit 31 22 -503 -34 -26 -4 2 3 -6 11 10 5 3
OPM % 10% 33% -724% -29% -17% -4% 2% 2% -7% 15% 12% 3% 2%
13 5 975 36 23 2 0 1 -4 2 1 22 1
Interest 1 0 0 0 0 0 0 1 3 1 1 2 2
Depreciation 8 6 4 4 4 2 2 2 3 3 2 3 3
Profit before tax 36 21 468 -2 -6 -5 0 1 -15 9 7 23 -1
Tax % 28% 23% 22% 2% 66% -103% 1,373% 368% 3% -13% -40% 15%
26 16 367 -2 -2 -10 -3 -2 -14 10 10 19 0
EPS in Rs 9.71 5.30 122.17 -0.66 -0.67 -4.31 -1.43 -1.37 -10.51 7.80 10.42 19.29 0.11
Dividend Payout % 21% 38% 26% -305% -300% -46% -140% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 3%
5 Years: 11%
3 Years: 29%
TTM: 28%
Compounded Profit Growth
10 Years: 8%
5 Years: 20%
3 Years: 29%
TTM: -98%
Stock Price CAGR
10 Years: 15%
5 Years: 18%
3 Years: 32%
1 Year: 31%
Return on Equity
10 Years: %
5 Years: 1%
3 Years: 4%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6 6 6 6 6 5 5 3 3 3 2 2 2
Reserves 205 163 418 409 400 320 312 243 180 191 163 182 181
0 0 0 0 0 1 4 20 27 24 25 34 27
66 38 25 31 28 21 21 19 19 13 19 44 44
Total Liabilities 278 207 449 446 434 346 341 285 229 230 209 262 254
60 38 31 29 26 22 21 20 34 30 31 33 32
CWIP 1 0 0 0 0 0 0 0 2 2 2 0 0
Investments 104 88 159 268 281 259 273 209 161 165 110 123 114
112 81 259 149 127 65 47 55 32 33 66 106 108
Total Assets 278 207 449 446 434 346 341 285 229 230 209 262 254

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
34 10 -162 -17 -40 -34 -9 -22 74 3 42 -26
-32 6 274 21 47 115 14 72 -17 -0 -4 21
-8 -9 -112 -7 -7 -81 -2 -52 -58 -3 -38 5
Net Cash Flow -6 8 1 -4 0 -0 3 -3 -1 0 0 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 67 198 82 77 71 52 50 50 38 45 79 90
Inventory Days 56 573 263 60 82 163 88 89 77 66 105 95
Days Payable 71 586 97 77 52 75 87 72 87 76 90 106
Cash Conversion Cycle 51 185 248 61 101 140 51 66 28 36 93 80
Working Capital Days 53 155 203 69 92 106 68 84 45 54 103 100
ROCE % 19% -2% -3% -5% 0% 1% -3% 5% 4% 2%

Shareholding Pattern

Numbers in percentages

20 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.89% 69.89% 69.89% 69.89% 69.89% 69.89% 69.89% 71.33% 71.33% 71.51% 71.90% 72.79%
0.00% 0.00% 0.00% 0.33% 0.00% 0.10% 0.00% 0.18% 0.01% 0.00% 0.08% 0.00%
30.11% 30.11% 30.11% 29.78% 30.11% 30.01% 30.12% 28.49% 28.66% 28.48% 28.03% 27.21%
No. of Shareholders 11,74212,39412,63513,61314,27814,02813,61313,09312,68812,40212,21712,025

* 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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