Sobha Ltd

About [ edit ]

Sobha is a leading real estate developer engaged in the business of construction, development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities.

  • Market Cap 4,518 Cr.
  • Current Price 477
  • High / Low 548 / 172
  • Stock P/E 47.5
  • Book Value 252
  • Dividend Yield 1.47 %
  • ROCE 21.4 %
  • ROE 12.1 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 25.51%

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 10.54% for last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -3.95%

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
770 598 659 788 1,398 1,177 784 883 910 350 522 684
633 467 518 629 1,154 949 526 597 656 157 368 506
Operating Profit 136 131 140 159 244 228 257 287 254 193 154 179
OPM % 18% 22% 21% 20% 17% 19% 33% 32% 28% 55% 29% 26%
Other Income 20 12 18 20 24 16 20 18 18 9 24 12
Interest 52 54 53 53 76 84 167 170 172 178 135 138
Depreciation 14 15 15 16 16 18 18 18 19 19 20 21
Profit before tax 91 74 89 110 176 142 93 116 81 5 23 32
Tax % 28% 29% 31% 36% 35% 36% 28% 37% 38% -22% 29% 33%
Net Profit 65 53 61 70 113 91 67 73 51 7 16 22
EPS in Rs 6.90 5.55 6.47 7.36 11.95 9.55 7.06 7.72 5.35 0.70 1.71 2.28

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
932 1,079 1,394 1,408 1,865 2,173 2,441 1,943 2,229 2,783 3,442 3,754 2,466
653 833 1,034 941 1,316 1,571 1,823 1,499 1,809 2,263 2,769 2,639 1,686
Operating Profit 279 246 360 467 549 603 617 444 420 520 673 1,115 780
OPM % 30% 23% 26% 33% 29% 28% 25% 23% 19% 19% 20% 30% 32%
Other Income 15 4 5 6 5 10 15 36 52 50 73 72 63
Interest 107 52 86 117 170 173 188 164 150 198 236 682 623
Depreciation 36 32 28 39 59 69 72 60 64 54 62 72 78
Profit before tax 150 166 251 318 324 370 372 257 258 317 448 433 142
Tax % 27% 17% 27% 34% 33% 37% 34% 46% 38% 32% 34% 35%
Net Profit 108 134 181 206 217 235 238 138 161 217 297 282 95
EPS in Rs 14.78 13.67 18.49 21.00 22.15 23.97 24.27 14.08 16.69 22.87 31.31 29.70 10.04
Dividend Payout % 7% 18% 16% 24% 32% 29% 29% 14% 15% 31% 22% 24%
Compounded Sales Growth
10 Years:13%
5 Years:9%
3 Years:19%
TTM:-42%
Compounded Profit Growth
10 Years:8%
5 Years:3%
3 Years:21%
TTM:-72%
Stock Price CAGR
10 Years:6%
5 Years:10%
3 Years:-4%
1 Year:177%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:11%
Last Year:12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
73 98 98 98 98 98 98 98 96 95 95 95 95
Reserves 1,014 1,606 1,753 1,902 2,039 2,193 2,334 2,467 2,548 2,675 2,134 2,336 2,294
Borrowings 1,932 1,474 1,242 1,241 1,379 1,404 2,059 2,180 2,222 2,331 2,604 3,131 3,116
637 682 802 997 1,344 1,814 1,666 3,317 4,027 3,924 5,907 5,448 5,470
Total Liabilities 3,656 3,860 3,895 4,237 4,860 5,509 6,157 8,062 8,893 9,025 10,740 11,010 10,974
173 143 137 284 330 335 315 373 595 610 678 919 841
CWIP 52 63 65 1 -0 41 52 45 1 -0 -0 -0 -0
Investments 3 3 4 0 0 0 0 229 0 112 113 114 114
3,429 3,651 3,689 3,952 4,529 5,134 5,789 7,415 8,298 8,302 9,949 9,976 10,018
Total Assets 3,656 3,860 3,895 4,237 4,860 5,509 6,157 8,062 8,893 9,025 10,740 11,010 10,974

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
183 332 402 486 254 395 -216 388 354 353 206 262
-40 -12 -27 -211 -129 -126 -60 -245 2 -129 -61 -274
-150 -259 -435 -251 -109 -246 337 -133 -345 -243 -86 -84
Net Cash Flow -7 61 -60 24 16 23 61 11 10 -18 58 -97

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 7% 11% 14% 15% 15% 14% 9% 8% 10% 14% 21%
Debtor Days 144 150 28 29 32 41 26 47 37 43 35 35
Inventory Turnover -0.31 0.03 0.12 -0.26 -0.05 -0.15 -0.03 -0.12 -0.11 0.08 0.01 0.00

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
55.94 55.94 55.97 55.97 51.75 51.75 51.75 51.78 51.90 51.99 51.99 51.99
30.27 28.34 26.95 24.61 26.98 26.63 25.90 23.37 19.48 17.16 15.97 18.08
8.47 10.16 11.67 13.67 15.56 17.03 16.81 15.49 10.94 11.42 13.33 12.47
5.32 5.56 5.41 5.75 5.70 4.59 5.54 9.35 17.68 19.43 18.71 17.47

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