Macrotech Developers Ltd - Stock Valuation and Financial Performance

BSE: 543287 | NSE: LODHA | Construction - Real Estate | Large Cap

Macrotech Developers Share Price

1,133.75 -18.15 -1.58%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Macrotech Developers

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Macrotech Developers stock performance -

mw4me loader
P/E Ratio (SA):
84.68
Market Cap:
1,14,551.4 Cr.
52-wk low:
390.3
52-wk high:
1,277.5

Is Macrotech Developers Ltd an attractive stock to invest in?

1. Is Macrotech Developers Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Macrotech Developers Ltd is a average quality company.

2. Is Macrotech Developers Ltd undervalued or overvalued?

The key valuation ratios of Macrotech Developers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Macrotech Developers Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Macrotech Developers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Macrotech Developers:

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.
Macrotech Developers 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 % 5.7%10.7%8%5.2%5.3%8.3%6.4%4.4%6.7%6.7%-
Value Creation
Index
-0.5-0.1-0.3-0.5-0.5-0.4-0.6-0.7-0.4-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4574,6656,7955,8657,4439,5168,1155,9268,3538,7359,034
Sales YoY Gr.-921.2%45.7%-13.7%26.9%27.9%-14.7%-27%41%4.6%-
Adj EPS 07.89.34.66.215.79.94.112.111.513.6
YoY Gr.-19375%18.7%-50.7%36.6%152.2%-37.3%-58.8%197.5%-5.2%-
BVPS (₹) 8.829.139.948.55840.349.352.1121.5124.9160.8
Adj Net
Profit
2.95907003614931,2447803221,1631,1041,352
Cash Flow from Ops. -181-8616571,9208359482,0003,8181,9611,108-
Debt/CF from Ops. -21.1-11.717.36.51917.98.54.15.59.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 38.8%3.3%2.5%4.6%
Adj EPS 87.5%12.9%5.2%-5.2%
BVPS34.2%16.6%36.3%2.7%
Share Price - - - 188.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.434.922.59.811.128.819.67.213.98.99.5
Op. Profit
Mgn %
6.822.224.519.51825.922.320.310.520.924.1
Net Profit
Mgn %
0.612.610.36.26.613.19.65.413.912.615
Debt to
Equity
5.63.73.23.33.55.34.33.80.90.9-
Working Cap
Days
2,4449011,1261,4481,2691,1421,4371,9651,4521,469765
Cash Conv.
Cycle
7645817599308948051,1261,5131,0811,071223

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.85

Return on Equity has declined versus last 3 years average to 9.50%

Sales growth has been subdued in last 3 years 2.48%

Net Profit has been subdued in last 3 years 5.15%

Sales growth is not so good in last 4 quarters at 2.94%

Latest Financials - Macrotech Developers Ltd.

Standalone Consolidated
TTM EPS (₹) 13.6 16.4
TTM Sales (₹ Cr.) 9,034 9,553
BVPS (₹.) 160.8 164.4
Reserves (₹ Cr.) 14,996 15,355
P/BV 7.16 7.01
PE 84.68 70.36
From the Market
52 Week Low / High (₹) 390.32 / 1277.45
All Time Low / High (₹) 210.57 / 1277.45
Market Cap (₹ Cr.) 1,14,551
Equity (₹ Cr.) 994.5
Face Value (₹) 10
Industry PE 76.3

Management X-Ray of Macrotech Developers:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *32.9932.9932.990.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Macrotech Developers

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
Sales4574,6656,7955,8657,4439,5168,1155,9268,3538,735
Operating Expenses 4463,6855,1474,7786,1067,0996,3054,7227,4766,911
Manufacturing Costs5374,7405,9555,4494,7866,0383,8712,8674,6698,462
Material Costs-158-1,623-1,309-1,2725592321,7621,270890-2,707
Employee Cost 15148179216295214280283344411
Other Costs 514203223854666163923031,572745
Operating Profit 119801,6481,0871,3372,4161,8091,2048781,824
Operating Profit Margin (%) 2.5%21.0%24.3%18.5%18.0%25.4%22.3%20.3%10.5%20.9%
Other Income 3174384064935862754353361,179273
Interest 325479571640697676786855402601
Depreciation 2693764193851512436956124
Exceptional Items 000000-560-4600-1,177
Profit Before Tax 18701,1075218411,8646551561,599194
Tax 1031841920032065122234465-111
Profit After Tax -95526883215211,2124331221,134305
PAT Margin (%) -2.0%11.8%10.1%5.5%7.0%12.7%5.3%2.1%13.6%3.5%
Adjusted EPS (₹)-0.17.39.14.16.615.35.51.511.83.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%32%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 6772,7003,5203,8425,0213,6214,3374,55412,13712,464
Share Capital 118608608113396396396396482482
Reserves 5592,0922,9123,7294,6253,2253,9414,15911,65511,982
Minority Interest0000000000
Debt3,81010,01611,30912,53915,84516,98216,88815,74710,6829,951
Long Term Debt1290891691544864511,2922,0681,574
Short Term Debt3,8099,72611,22012,37015,69016,49616,43714,4558,6148,377
Trade Payables901,3191,7392,0111,5621,6691,6731,3061,3892,270
Others Liabilities 7539,6138,79210,1597,73713,10811,52014,25513,35415,440
Total Liabilities 5,32923,64825,36128,55130,16535,37934,41835,86237,56240,125

Fixed Assets

Gross Block221,3521,5631,6722,8062,8762,8983,0613,1483,364
Accumulated Depreciation151244918981,2581,3851,6001,7571,7971,654
Net Fixed Assets71,2281,0727731,5481,4911,2971,3041,3511,710
CWIP 1483289100666600
Investments 2,0901,9181,6792,5879259821,0581,682612380
Inventories1,06614,73516,05917,38021,50527,15525,37126,67925,90928,603
Trade Receivables149740467317711408731628511728
Cash Equivalents 1233301922031742631162561,0211,700
Others Assets1,8814,6155,6037,1895,2965,0755,8395,3078,1577,004
Total Assets 5,32923,64825,36128,55130,16535,37934,41835,86237,56240,125

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -181-8616571,9208359482,0003,8181,9611,108
PBT 18701,1075218411,8646551561,599194
Adjustment 931,1141,5311,7272,0972,2792,6022,4561,6302,650
Changes in Working Capital -270-2691-1723-39-1702-2973-12031120-1123-1532
Tax Paid -5-154-259-288-401-221-5387-145-204
Cash Flow From Investing Activity -453945-165-1,472330276-14784-1,6241,690
Capex -2-137-71-42-36-80-142-44-75
Net Investments -1,079391162-928-473-61965-44215672
Others 629691-256-501839417-1,098125-1,7951,093
Cash Flow From Financing Activity 667-206-638-449-1,155-1,145-1,985-3,808-202-1,857
Net Proceeds from Shares 000000006,34510
Net Proceeds from Borrowing 0000000000
Interest Paid -290-1,265-1,490-1,643-2,353-2,283-2,213-2,009-1,600-1,206
Dividend Paid 0000000000
Others 9571,0598521,1931,1991,139228-1,799-4,948-662
Net Cash Flow 33-122-146-11080-13194134940
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-1.3938.5326.389.3512.3531.1612.23.0414.322.57
ROCE (%)8.1215.6712.177.438.3512.57.034.979.423.54
Asset Turnover Ratio0.10.320.280.220.250.290.230.170.230.22
PAT to CFO Conversion(x)N/A-1.560.955.981.60.784.6231.31.733.63
Working Capital Days
Receivable Days110353224252126422526
Inventory Days7686188271,0409539331,1811,6031,1491,139
Payable Days-305-158-426-5381,1672,546346428552-247

Macrotech Developers Ltd Stock News

Macrotech Developers Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Macrotech Developers on 28-Mar-2024 16:01 is ₹1,133.8.
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 Macrotech Developers stood at ₹1,14,551.4.
The latest P/E ratio of Macrotech Developers as of 28-Mar-2024 16:01 is 84.68.
The latest P/B ratio of Macrotech Developers as of 28-Mar-2024 16:01 is 7.16.
The 52-week high of Macrotech Developers is ₹1,277.5 and the 52-week low is ₹390.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Macrotech Developers is ₹9,034 ( Cr.) .

About Macrotech Developers Ltd

Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020. Currently, it has residential projects in the MMR and Pune. In 2019, it forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte. (ESR), a subsidiary of ESR Cayman, an Asia Pacific focused logistics real estate platform. It also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.

The company’s customer-centric business model focuses on designing and developing its ‘branded products’ to address consumer needs across locations and price points. Its core competency lies in professionally managing the real estate value chain as it has in-house capabilities to deliver a project from conceptualization to completion. It has a strong focus on de-risking projects and improving its return on investment with fast turnaround time from acquisition to launch to completion.

The company’s brands include “Lodha”, “CASA by Lodha” and “Crown - Lodha Quality Homes” for its affordable and mid-income housing projects, the “Lodha” and “Lodha Luxury” brands for its premium and luxury housing projects, and the “iThink”, “Lodha Excelus” and “Lodha Supremus” brands for its office spaces. Its inhouse sales team is supported by a distribution network of multiple channels across India as well as key non-resident Indian (NRI) markets, such as the Gulf Cooperation Council, United Kingdom, Singapore and the United States. The company’s large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road).

Business area of the company

The company is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.

Awards and Accreditations

  • 2014: The Global Leadership in Real Estate Award’ in the NDTV Property Awards.
  • 2014: The Most Trusted Real Estate Brand in the Country’ by the Brand Trust Report.
  • 2014: Ranked as one of India’s Best Companies to Work for, 2014’ by Great Places to Work.
  • 2014: India’s Most Admired Builders’ by the Construction World Architect & Builder (CWAB).
  • 2015: Special Recognition Award’ in the ET Best Realty Brands (BRB) Awards.
  • 2015: Ranked as one of India’s Best Companies to Work for, 2015 by Great Places to Work.
  • 2016 ‘Best Private Township’ in the BW Business World Smart Cities Awards.
  • 2016: Certificate of recognition for ‘Iconic Upcoming Project- World One Worli’ as the Times Realty Icon 2016 by Optimal Media Solutions.
  • 2017: Best ‘Social Media Integrated Campaign’ for the World Towers at the National Awards for Marketing Excellence by Times Network.
  • 2017: Most Respected Real Estate Brand – India’ by 2017 Grohe Hurun.
  • 2017: Scroll of Honour award for ‘Marketing Firm of the Year – India’ by CREDAI.
  • 2018: Lodha Altamount recognised as one of the ‘Best Residential Project under Ultra-Luxury Segment’ in the West Zone of India by CNBC Awaaz Real Estate Awards 2017-18.
  • 2019: Best Activation Campaign Store Launch for Lodha Xperia Mall by the Activation Venue Forum.
  • 2020: Certificate of recognition for ‘Top Developer of the Year’ as the Times Real Estate Icons, West India 2020 by Optimal Media Solutions.

Major events and milestones

  • 2005: Launched Lodha Paradise in Thane.
  • 2006: Start of acquisition of land for Palava city.
  • 2006: Macrotec Constructions Private Limited (our erstwhile Subsidiary) won the bid for Apollo Textile Mills in an auction from National Textile Corporation for Bellissimo, Primero & Excelus projects.
  • 2008: Investment of Rs 16,400 million from Deutsche Bank in Cowtown Infotech Services Private Limited.
  • 2008: Investment from ICICI Ventures in Lodha Elevation Buildcon Private Limited in respect of ‘iThink Thane’.
  • 2010: Launch of Phase I of Palava City.
  • 2011: Acquisition of Wadala land parcel through auction process conducted by Mumbai Metropolitan Region Development Authority.
  • 2011: Launch of World One project in Lower Parel, Mumbai.
  • 2012: Exit of Deutsche Bank from Cowtown Infotech Services Private Limited.
  • 2012: Launch of New Cuffe Parade project in Wadala, Mumbai.
  • 2013: Launch of South Mumbai’s largest landscape, ‘The Park’ in Worli.
  • 2013: Acquisition of Washington House for Lodha Altamount project from the US Government.
  • 2014: Expansion into UK with acquisition of two development sites in Central London, including Canadian High Commission.
  • 2015: Successful closure of international bond offering of 12% $200 million due in 2020 by its Subsidiary, Lodha Developers International Limited.
  • 2015: Launched Lodha Luxury collection for super high-end residential.
  • 2015: Acquisition of 87 acre land from Clariant Chemicals in Thane.
  • 2016: Launch of Amara in Thane.
  • 2017: Exit of HDFC Venture Fund and Tramos Limited from Shreeniwas Cotton Mills Limited.
  • 2017: Exit of ICICI Ventures (iThink Thane in Lodha Elevation Buildcon Private Limited).
  • 2017: Launch of Lincoln Square project in London.
  • 2018: Follow-on fund raising of $125 million on 12% USD Bonds due in 2020.
  • 2018: Development finance tied up for both the London properties.
  • 2018: Acquisition of five acres of land parcel in Jogeshwari.
  • 2018: Launch of Seamont project in Walkeshwar, Mumbai.
  • 2018: Launch of Upper Thane project in Thane.
  • 2019: Joint Venture with ESR Mumbai 3 Pte. Limited for developing an industrial park at Palava.
  • 2019: Sale of NCP commercial tower 1 for a total consideration of Rs 10,550 million through sale of shares of subsidiary company to Varde Group, Singapore.
  • 2020: Repaid the bond of $325 million and raised the fresh bond of $225 million due 2023 by subsidiary, Lodha Developers International Limited.
  • 2020: Launch of ‘Lodha Crown’ in Thane.
  • 2021: Launch of ‘Lodha Villa Royale’ in Thane.


Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.