Vakrangee Ltd

Vakrangee is engaged in providing diverse solutions, activities in e-governance and e-commerce sector, including bullion and jewellery, through its Vakrangee Kendra (on B2B and B2C basis) with special competencies in handling massive, multi-state, and e-governance enrollment projects, data digitization.

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 51.80%
Cons:
The company has delivered a poor growth of -5.90% over past five years.
Earnings include an other income of Rs.83.12 Cr.

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Converts

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
943.52 967.84 1,125.94 1,288.23 1,505.17 1,750.46 1,835.45 996.26 283.59 82.46 87.46 110.61
717.81 738.36 868.56 1,029.62 1,223.62 1,405.75 1,740.14 989.34 300.17 99.36 89.99 113.67
Operating Profit 225.71 229.48 257.38 258.61 281.55 344.71 95.31 6.92 -16.58 -16.90 -2.53 -3.06
OPM % 23.92% 23.71% 22.86% 20.07% 18.71% 19.69% 5.19% 0.69% -5.85% -20.49% -2.89% -2.77%
Other Income 1.57 2.68 5.15 4.25 5.33 9.57 14.68 16.92 21.63 21.21 20.14 20.14
Interest 13.37 13.19 9.65 5.86 0.61 1.05 0.35 0.00 0.00 0.00 0.00 0.00
Depreciation 19.81 18.95 13.10 0.79 0.68 0.79 1.90 1.83 1.82 2.06 3.00 3.50
Profit before tax 194.10 200.02 239.78 256.21 285.59 352.44 107.74 22.01 3.23 2.25 14.61 13.58
Tax % 34.80% 34.79% 39.39% 35.05% 34.01% 32.82% 34.09% 41.34% 74.30% 56.44% 62.70% 52.65%
Net Profit 126.56 130.44 145.33 166.40 188.46 236.75 71.02 12.90 0.83 0.99 5.46 6.43
EPS in Rs 1.20 1.23 1.38 1.57 1.78 2.24 0.67 0.12 0.01 0.01 0.05 0.06
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
223.90 294.31 409.35 852.34 1,352.15 1,555.78 1,965.39 2,775.37 3,168.61 3,948.95 6,379.31 1,449.77 564.12
122.17 181.91 331.25 714.75 1,114.18 1,171.96 1,410.44 2,057.56 2,358.08 3,022.63 5,399.14 1,478.87 603.19
Operating Profit 101.73 112.40 78.10 137.59 237.97 383.82 554.95 717.81 810.53 926.32 980.17 -29.10 -39.07
OPM % 45.44% 38.19% 19.08% 16.14% 17.60% 24.67% 28.24% 25.86% 25.58% 23.46% 15.36% -2.01% -6.93%
Other Income 2.04 -48.92 0.55 0.36 4.23 7.42 9.21 9.56 12.03 16.12 33.83 79.91 83.12
Interest 0.04 3.19 5.86 17.91 55.25 85.84 77.88 74.92 56.20 49.79 7.87 0.00 0.00
Depreciation 29.33 53.18 40.61 53.30 87.40 156.94 180.32 164.35 163.53 72.96 4.16 8.71 10.38
Profit before tax 74.40 7.11 32.18 66.74 99.55 148.46 305.96 488.10 602.83 819.69 1,001.97 42.10 33.67
Tax % 32.89% 37.69% 25.02% 27.96% 32.18% 26.39% 34.96% 34.32% 35.04% 36.20% 33.87% 52.04%
Net Profit 49.93 4.43 24.13 48.08 67.51 109.27 199.00 320.57 391.58 522.95 662.62 20.18 13.71
EPS in Rs 0.57 0.05 0.26 0.50 0.07 1.07 1.96 3.16 3.70 4.94 6.26 0.19 0.13
Dividend Payout % 8.57% 48.31% 13.99% 9.86% 7.41% 9.20% 6.33% 3.93% 16.89% 20.24% 3.99% 131.17%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:17.29%
5 Years:-5.90%
3 Years:-22.94%
TTM:-90.73%
Compounded Profit Growth
10 Years:-9.30%
5 Years:-37.27%
3 Years:-63.29%
TTM:-97.31%
Return on Equity
10 Years:21.57%
5 Years:21.52%
3 Years:17.81%
Last Year:0.75%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
21.40 21.40 22.50 23.71 25.02 50.25 50.35 50.35 52.92 52.92 105.88 105.88
Reserves 249.61 247.34 274.14 323.92 389.06 465.29 652.46 931.18 1,561.08 2,007.58 2,476.37 2,480.67
Borrowings 1.45 22.45 49.00 152.89 451.71 526.18 477.07 400.16 319.77 144.02 0.00 0.00
77.27 49.93 121.75 162.38 229.63 317.52 548.24 655.90 178.18 62.98 393.90 107.39
Total Liabilities 349.73 341.12 467.39 662.90 1,095.42 1,359.24 1,728.12 2,037.59 2,111.95 2,267.50 2,976.15 2,693.94
239.84 215.78 230.79 214.92 487.11 418.37 434.98 271.90 131.72 28.71 89.75 142.80
CWIP 0.00 0.00 0.00 0.00 0.08 0.00 48.11 10.09 0.00 0.00 3.15 13.36
Investments 52.15 52.16 53.12 60.06 58.37 11.67 3.76 2.81 2.80 19.81 56.95 31.63
57.74 73.18 183.48 387.92 549.86 929.20 1,241.27 1,752.79 1,977.43 2,218.98 2,826.30 2,506.15
Total Assets 349.73 341.12 467.39 662.90 1,095.42 1,359.24 1,728.12 2,037.59 2,111.95 2,267.50 2,976.15 2,693.94

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
149.19 14.94 13.22 -40.29 205.29 80.01 233.02 -7.17 271.50 679.65 499.90 -690.15
-196.12 -28.77 -56.37 -42.98 -353.79 -36.10 -231.60 5.17 -25.08 39.18 -96.70 40.43
45.93 13.53 42.91 96.58 156.97 -38.66 -3.43 9.57 -96.10 -141.55 -134.06 -31.91
Net Cash Flow -1.00 -0.30 -0.24 13.31 8.47 5.25 -2.01 7.56 150.32 577.28 269.14 -681.63

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 32.66% 21.16% 11.99% 20.26% 22.60% 24.52% 34.56% 43.89% 39.66% 41.72% 42.19% 1.56%
Debtor Days 62.68 52.76 126.84 114.68 120.19 155.16 147.08 160.66 100.12 77.61 73.04 322.81
Inventory Turnover 8.92 37.64 37.49 196.85 602.29 132.69 26.12 21.01 10.60 8.72 27.84 136.38