Vindhya Telelinks Ltd

Vindhya Telelinks is engaged in manufacturing and sale of Cables (comprising of telecommunications cables, other types of wires & cables, FRP rods/glass rovings etc.) and Turnkey Contracts & Services business.

Pros:
Stock is trading at 0.44 times its book value
Company has good consistent profit growth of 51.80% over 5 years
Market value of investments Rs.1513.07 Cr. is more than the Market Cap Rs.1042.21 Cr.
Cons:
Company has a low return on equity of 11.44% for last 3 years.
Earnings include an other income of Rs.123.81 Cr.
Company has high debtors of 210.72 days.

Peer Comparison Sector: Cables // Industry: Cables - Telephone

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Mar 2019 Jun 2019
405 602 419
338 512 355
Operating Profit 67 90 63
OPM % 17% 15% 15%
Other Income 31 51 49
Interest 14 22 22
Depreciation 3 5 5
Profit before tax 81 114 84
Tax % 23% 22% 16%
Net Profit 62 89 71
EPS in Rs 52.60 75.11 59.53
Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
223 266 213 206 260 354 459 685 1,016 998 1,343 2,095
220 271 200 202 263 331 407 582 846 869 1,165 1,756
Operating Profit 2 -5 13 4 -3 23 52 102 170 128 177 339
OPM % 1% -2% 6% 2% -1% 6% 11% 15% 17% 13% 13% 16%
Other Income 16 15 23 23 23 22 16 27 28 125 81 124
Interest 4 6 5 7 12 18 20 35 54 41 47 76
Depreciation 5 6 5 5 5 5 6 11 14 13 13 20
Profit before tax 9 -2 26 14 3 22 41 84 130 200 198 367
Tax % -2% -6% 1% 3% 38% 6% 16% 11% 31% 15% 23% 25%
Net Profit 10 -2 26 14 2 21 35 75 95 170 153 276
EPS in Rs 8.07 0.00 21.83 11.39 1.60 17.89 29.01 61.88 78.85 143.59 129.55 232.66
Dividend Payout % 0% -0% 0% 0% 0% 0% 7% 8% 7% 5% 8% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.93%
5 Years:35.49%
3 Years:27.28%
TTM:56.07%
Compounded Profit Growth
10 Years:57.03%
5 Years:51.80%
3 Years:41.42%
TTM:79.74%
Stock Price CAGR
10 Years:16.89%
5 Years:13.75%
3 Years:8.47%
1 Year:-38.40%
Return on Equity
10 Years:11.52%
5 Years:12.72%
3 Years:11.44%
Last Year:12.28%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
12 12 12 12 12 12 12 12 12 12 12 12
Reserves 230 228 254 267 269 290 322 389 479 1,673 2,084 2,381
Borrowings 15 40 54 52 98 114 163 310 326 276 471 832
36 36 40 54 76 107 175 224 271 465 626 1,052
Total Liabilities 293 315 360 385 455 523 672 935 1,087 2,425 3,192 4,277
45 47 50 52 49 46 59 74 86 72 85 129
CWIP 3 1 2 1 0 1 5 1 0 16 5 0
Investments 126 134 147 148 141 155 166 165 201 1,349 1,686 1,805
120 134 161 184 264 321 441 696 800 989 1,416 2,343
Total Assets 293 315 360 385 455 523 672 935 1,087 2,425 3,192 4,277

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-42 -19 -8 -0 -69 1 -5 -114 71 83 -122 -292
53 2 -4 12 25 -0 -32 -5 -36 -11 -25 5
-13 20 10 -7 38 4 34 118 -32 -72 147 287
Net Cash Flow -2 2 -2 4 -6 5 -3 -1 3 -1 0 -1

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 5% 1% 10% 6% 3% 10% 13% 19% 25% 17% 11% 15%
Debtor Days 58 97 183 186 252 202 219 192 142 170 196 211
Inventory Turnover 6.04 6.42 7.32 8.99 9.42 8.20 6.83 8.11 12.02 7.29 4.77 3.56