Noida Toll Bridge Company Ltd - Stock Valuation and Financial Performance

BSE: 532481 | NSE: NOIDATOLL | Engineering - Construction | Small Cap

Noida Toll Bridge Share Price

7.41 -0.38 -4.88%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Noida Toll Bridge

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Noida Toll Bridge Company stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
138 Cr.
52-wk low:
5.7
52-wk high:
15.6

Is Noida Toll Bridge Company Ltd an attractive stock to invest in?

1. Is Noida Toll Bridge Company Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Noida Toll Bridge Company Ltd is a average quality company.

2. Is Noida Toll Bridge Company Ltd undervalued or overvalued?

The key valuation ratios of Noida Toll Bridge Company Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Noida Toll Bridge Company Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Noida Toll Bridge Company Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Noida Toll Bridge:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Noida Toll Bridge Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 10.8%16.5%18.2%0.9%-10.4%-6.5%-7.1%-10.1%-11.6%-11%-
Value Creation
Index
-0.20.20.3-0.9-1.7-1.5-1.5-1.7-1.8-1.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 11912312982.116.320.424.712.916.123.715
Sales YoY Gr.-3%4.9%-36.4%-80.2%25.1%21.3%-47.6%24.8%47%-
Adj EPS 2.84.35.20-3.1-1.9-1.7-2.2-2.2-1.9-2
YoY Gr.-54%20.8%-99.2%-7850%NANANANANA-
BVPS (₹) 26.32727.425.722.620.71916.814.612.711.3
Adj Net
Profit
51.879.796.20.7-57.8-35.9-31.1-40.5-41.5-35.3-36
Cash Flow from Ops. 74.968.371.233.8-3.70.710.3-12.523.8-
Debt/CF from Ops. 0.30.30.61.6-16.6936.5-67.427.22.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -16.4%7.8%-1.3%47%
Adj EPS -195.8%NANANA
BVPS-7.8%-10.9%-12.6%-13%
Share Price -11.1% 6% 4.5% 9.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
10.616.1190.2-12.9-8.9-8.4-12.1-14.2-13.9-16.4
Op. Profit
Mgn %
73.871.472.154.1-56.9-2525.45.8-3.912.1-4
Net Profit
Mgn %
43.464.874.60.9-355-176.4-125.8-312.9-257-148.7-237
Debt to
Equity
0.100.10.10.20.20.20.20.30.3-
Working Cap
Days
1441951401651,1088546721,3071,076670651
Cash Conv.
Cycle
-105171601075620519460-766

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years -1.33%

Sales growth is not so good in last 4 quarters at -38.64%

Latest Financials - Noida Toll Bridge Company Ltd.

Standalone Consolidated
TTM EPS (₹) -2 -2
TTM Sales (₹ Cr.) 15.4 15.4
BVPS (₹.) 11.3 11.3
Reserves (₹ Cr.) 24 24
P/BV 0.66 0.66
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 5.71 / 15.60
All Time Low / High (₹) 2.42 / 85.05
Market Cap (₹ Cr.) 138
Equity (₹ Cr.) 186.2
Face Value (₹) 10
Industry PE 43.2

Management X-Ray of Noida Toll Bridge:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Noida Toll Bridge

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales11912312982162025131624
Operating Expenses 31353638262518121721
Manufacturing Costs1621192013118667
Material Costs0000000000
Employee Cost 3333111111
Other Costs 1312141512141061013
Operating Profit 88889344-9-561-13
Operating Profit Margin (%) 73.8%71.3%72.1%53.3%-56.9%-25.0%25.4%5.8%-3.9%12.1%
Other Income 5833105113
Interest 9836780000
Depreciation 223238424342424241
Exceptional Items 0000000000
Profit Before Tax 8285613-57-56-31-40-41-35
Tax 274-3711-200000
Profit After Tax 5581982-58-36-31-40-41-35
PAT Margin (%) 45.9%65.7%75.6%2.0%-354.0%-176.0%-125.0%-312.0%-257.0%-148.0%
Adjusted EPS (₹)2.94.35.20.1-3.1-1.9-1.7-2.2-2.2-1.9
Dividend Payout Ratio (%)85%69%57%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 489503510478420384353313271236
Share Capital 186186186186186186186186186186
Reserves 3033163242922341981671278550
Minority Interest0000000000
Debt2003945521819191919
Long Term Debt20039453500000
Short Term Debt0001171819191919
Trade Payables0003386522
Others Liabilities 137151806581106102106110125
Total Liabilities 646654629591557516481444402382

Fixed Assets

Gross Block616616627630650662662662663663
Accumulated Depreciation424475112153196238280322363
Net Fixed Assets574572553518497466424382341300
CWIP 00021900000
Investments 60220000000
Inventories0001110000
Trade Receivables11477761181
Cash Equivalents 1063122313131541
Others Assets55742043403938383840
Total Assets 646654629591557516481444402382

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 75687134-4110-1224
PBT 8285613-57-56-31-40-41-35
Adjustment 11103544495142414138
Changes in Working Capital -1-923560-2321
Tax Paid -17-18-26-16-1-1-10-1-1
Cash Flow From Investing Activity 0-1-13-3230-90-2-24
Capex 0-1-13-32-3000-10
Net Investments 000000-9-1-1-26
Others 0000600012
Cash Flow From Financing Activity -116-78-38-27000000
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -7-6-2-6-6-10000
Dividend Paid -54-66-56-34000000
Others -54-52113700000
Net Cash Flow -41-1021-25011-110
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)11.216.319.260.33-12.85-8.93-8.42-12.14-14.19-13.9
ROCE (%)16.917.9411.81.6-9.89-10.26-7.11-10.11-11.55-11
Asset Turnover Ratio0.180.190.20.130.030.040.050.030.040.06
PAT to CFO Conversion(x)1.360.840.7217N/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days447241611299723621470
Inventory Days1112181381160
Payable Days0000000000

Noida Toll Bridge Company Ltd Stock News

Noida Toll Bridge Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Noida Toll Bridge on 28-Mar-2024 16:01 is ₹7.41.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Noida Toll Bridge stood at ₹138.0.
The latest P/E ratio of Noida Toll Bridge as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Noida Toll Bridge as of 28-Mar-2024 16:01 is 0.66.
The 52-week high of Noida Toll Bridge is ₹15.60 and the 52-week low is ₹5.71.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Noida Toll Bridge is ₹15.40 ( Cr.) .

About Noida Toll Bridge Company Ltd

The Noida Toll Bridge Company (NTBCL) has been promoted by Infrastructure Leasing and Financial Services Ltd. (IL&FS) as a special purpose vehicle (SPV) incorporated on April 8, 1996 in Uttar Pradesh under the Indian Companies Act,1956, as a public company limited by shares to develop construct, operate and maintain the DND Flyway on a Build Own Operate Transfer (BOOT) basis. NTBCL is a public listed company. 

DND Flyway grew out of a need to bridge the growing population of Delhi with its neighbours across the Yamuna. The Flyway, an outcome of innovative technical and financial engineering, has been built with due care for environmental concerns. The Citizens Committee was formed to oversee the requisite environmental safeguards during construction - a feature pointed out by the World Bank as being the first of its kind in the world. The project was commissioned on February 7, 2001, almost 4 months ahead of schedule and broadly within the budget.

The company’s principal business is operating the bridge, the revenues being generated mainly through the levy of toll charges on users of the bridge. The company has set up a 100% subsidiary, DND Flyway, for the implementation of development rights. Part of the surplus land on the Noida side has been transferred to the subsidiary.

The Company had issued 1,24,99,999 Global Depository Receipts (GDRs) (including the Green Shoe Option of 11,36,363 GDRs) each representing 5 underlying ordinary shares of Rs. 10 each), in March/April 2006. As on March 31, 2009, there were 6,52,019 GDRs outstanding, representing 32,60,095 underlying equity shares.The Company had filed a petition for a Scheme of Arrangement which included an amalgamation, with its wholly owned subsidiary, DND Flyway Limited, under Sections 391- 394 of the Companies Act, 1956.In 2007 the High Courts of Allahabad and Delhi have approved the Scheme of Amalgamation between the Company and its 100% subsidiary, DND Flyway.

In March and April 2006, the Company raised approximately $49.5 million through a placing of approximately 12.5 million GDRs (each GDR representing five Equity Shares) which were admitted to trading on AIM. The GDRs were issued under the terms of the deposit agreement dated March 21, 2006 between the Company and Deutsche Bank Trust Company Americas.  The GDRs constituted approximately 62.5 million Equity Shares and represented approximately 33.58% of the enlarged equity share capital of the Company at that time.

The Company convened a General Meeting of its GDR holders on April 6, 2009 at the registered office of the Company in Uttar Pradesh, India to seek approval from the GDR holders of the Company for the cancellation of the admission of the GDRs to trading on the AIM market of the London Stock Exchange plc.ITNL Toll Management Services Limited (ITMSL) was incorporated as a joint venture company with IL&FS Transportation Networks Limited, who have significant experience in operations and maintenance of toll road projects. The Company was set up to carry out O&M services for Noida Toll Bridge and other similar ventures on a pan- India basis. The O&M services of the bridge have been taken over by ITMSL.

Future plan

The Noida Toll Bridge Company proposes to establish an additional bridge across the river Yamuna as a toll bridge to serve the needs of the region. The Company proposes to use a technology for the bridge which involves a continuous box girder deck based design requiring less raw materials for construction.

Recent development

The company’s proposal for delisting its Global Depository Receipts (GDRs) from the Alternative Investment Market (AIM) of London Stock Exchange has been rejected by the share holders.

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