ITI Ltd - Stock Valuation and Financial Performance

BSE: 523610 | NSE: ITI | Telecommunication - Equipment | Mid Cap

ITI Share Price

262.80 -5.50 -2.05%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on ITI

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

ITI stock performance -

mw4me loader
P/E Ratio (CD):
0.00
Market Cap:
25,252.1 Cr.
52-wk low:
89.6
52-wk high:
384.4

Is ITI Ltd an attractive stock to invest in?

1. Is ITI Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that ITI Ltd is a below average quality company.

2. Is ITI Ltd undervalued or overvalued?

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

3. Is ITI Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of ITI 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 ITI:

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.
ITI Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%16.4%13.1%5.8%7.4%3.3%6.2%-5.1%-
Value Creation
Index
NANANA0.20.0-0.6-0.5-0.8-0.5-1.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 0001,5281,4751,6682,0592,3621,8611,3951,438
Sales YoY Gr.-NANANA-3.5%13.1%23.4%14.7%-21.2%-25%-
Adj EPS 0004.8311.60.11.3-3.8-4.2
YoY Gr.-NANANA-36.3%-66%52.4%-93.6%1170%-399.2%-
BVPS (₹) 000-22.3-10.7-6.225.126.227.223.921
Adj Net
Profit
00026623192.51459.4119-360-402
Cash Flow from Ops. 000-347-11323.8-19994.1-437-294-
Debt/CF from Ops. 000-3.4-10.952.8-6.115.6-3.7-6.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA-1.1%-12.2%-25%
Adj EPS NA-204.6%-234.3%-399.2%
BVPSNANA-1.6%-12.1%
Share Price 31.6% 21.4% 33.8% 187.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
00024.216.75.370.44.7-14.5-18.6
Op. Profit
Mgn %
000-6.95.5-67.12.25.8-11-10.5
Net Profit
Mgn %
00017.415.65.67.10.46.4-25.8-27.9
Debt to
Equity
000-0.9-1.5-2.30.50.60.60.8-
Working Cap
Days
00008188547497741,1591,662730
Cash Conv.
Cycle
0000129216128118191378-57

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.83

Return on Equity is Poor

Sales growth has been subdued in last 3 years -12.16%

Sales growth is not so good in last 4 quarters at -2.98%

Latest Financials - ITI Ltd.

Standalone Consolidated
TTM EPS (₹) -4.2 -4.2
TTM Sales (₹ Cr.) 1,438 1,438
BVPS (₹.) 20.6 21
Reserves (₹ Cr.) 1,018 1,053
P/BV 12.76 12.54
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 89.60 / 384.35
All Time Low / High (₹) 6.50 / 384.35
Market Cap (₹ Cr.) 25,252
Equity (₹ Cr.) 960.9
Face Value (₹) 10
Industry PE 31.4

Management X-Ray of ITI:

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

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,5281,4751,6682,0592,3621,8611,395
Operating Expenses 1,6331,3941,7691,9132,3111,7521,549
Manufacturing Costs7115818241,1681,534764846
Material Costs587557594467436721405
Employee Cost 301226204231290222229
Other Costs 353014647514570
Operating Profit -10581-10014651109-154
Operating Profit Margin (%) -6.9%5.5%-6.0%7.1%2.2%5.8%-11.0%
Other Income 54132734518416125553
Interest 153153115141160192210
Depreciation 17253742425149
Exceptional Items 0000000
Profit Before Tax 266231931469119-360
Tax 0000000
Profit After Tax 266231931469119-360
PAT Margin (%) 17.4%15.6%5.5%7.1%0.4%6.4%-25.8%
Adjusted EPS (₹)4.83.01.01.60.11.3-3.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 1,1001,5281,7782,3202,4442,5362,267
Share Capital 560760897925934934950
Reserves 5407688811,3951,5111,6031,318
Minority Interest0000000
Debt1,1791,2261,2591,2161,4641,5521,756
Long Term Debt300300300180300240180
Short Term Debt8799269591,0361,1641,3121,576
Trade Payables1,9762,2621,8052,1831,8851,6901,377
Others Liabilities 1,2982,0292,1572,0023,1193,7964,092
Total Liabilities 5,5537,0456,9987,7218,9139,5759,491

Fixed Assets

Gross Block2,4972,6272,7062,7472,7962,8732,945
Accumulated Depreciation184380121161212261
Net Fixed Assets2,4792,5842,6272,6252,6352,6612,684
CWIP 102149165189169150139
Investments 41384038363535
Inventories142156149173194193250
Trade Receivables2,1963,0802,6572,7612,5522,7302,429
Cash Equivalents 166325204245548306215
Others Assets4287131,1571,6892,7803,4993,740
Total Assets 5,5537,0456,9987,7218,9139,5759,491

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -347-11324-19994-437-294
PBT 266231931469119-360
Adjustment -167-472769412711206
Changes in Working Capital -451-295-345-439-42-568-139
Tax Paid 4-101000
Cash Flow From Investing Activity -75-93-126-73-30417846
Capex -76-97-128-62-3-57-44
Net Investments 03-2-27-31323085
Others 124161255
Cash Flow From Financing Activity 468364-19285198247241
Net Proceeds from Shares 80337557410872187
Net Proceeds from Borrowing 0000000
Interest Paid -153-153-106-141-160-192-210
Dividend Paid 0000000
Others 54018032352250368264
Net Cash Flow 45158-12113-12-12-6
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)00016.520.44.77-14.98
ROCE (%)0159.0231.6713.344.547.65-3.55
Asset Turnover Ratio0.280.240.240.280.280.20.15
PAT to CFO Conversion(x)-1.3-0.490.26-1.3610.44-3.67N/A
Working Capital Days
Receivable Days518649628480411518675
Inventory Days34373329283858
Payable Days1,2281,3881,2491,5571,7039051,383

ITI Ltd Stock News

ITI Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of ITI on 12-Apr-2024 16:59 is ₹262.8.
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 12-Apr-2024 16:59 the market cap of ITI stood at ₹25,252.1.
The latest P/E ratio of ITI as of 12-Apr-2024 16:59 is 0.00.
The latest P/B ratio of ITI as of 12-Apr-2024 16:59 is 12.76.
The 52-week high of ITI is ₹384.4 and the 52-week low is ₹89.60.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ITI is ₹1,438 ( Cr.) .

About ITI Ltd

ITI Limited is a public sector undertaking in the telecommunications technology segment established as a departmental factory in 1948. The company has a diverse suite of products including manufactured products like Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box, Defence products like multi-capacity encryption units, Bulk encryption Units (BEU), Terminal End Secrecy Devices (TESD), Passive infrastructure products such as Optical Fiber Cable, HDPE duct, Antenna, diversified products such as smart energy meters, smart cards, solar panels, mini personal computers.

Besides offering the telecom turnkey solutions and customized support, ITI has a dedicated Network System Unit for executing turnkey projects for installation and commissioning of telecommunication networks. The company intends to upgrade and invest in the technology, through the acquisition of technology from strategic partners with a specific focus on high growth industry segments. The company operates a data center at Bengaluru and currently expanding the same to offer cloud based services to government institutions/departments, banks etc.

The company is manufacturing a diverse range of Information and Communication Technology (ICT) products/solutions to hone its competitive edge in the convergence market by deploying its rich telecom expertise and vast infrastructure. Company is diversifying towards IOT, Smart city, other allied telecom products and services including turnkey project execution to offer solutions in diversified fields. Encryption Products are the company's forte. Extensive in-house R&D work is devoted towards design and development of encryption solutions to Indian Defence forces.

Business area of the company

The company is primarily engaged in the business of manufacture, sale and servicing of telecommunication equipments and rendering other associated / ancillary services.

Products and services offered by the company

Products

  • Smart energy meters
  • GPON OLT and ONT
  • PCM multiplexers
  • Electronic push button telephones
  • Ruggedized telephones for defence forces
  • Smart cards and banking cards
  • Hand held terminals for smart card authentication
  • Set top boxes, Wi-Fi equipment
  • Multiple types of encryption devices for defence
  • Solar power module
  • Switched mode power supply system
  • Internet of things (IOT) products
  • Radio modems
  • AN Rack hardware
  • Mini personal computers
  • Bank automation products
  • Optical Fiber Cable
  • HDPE pipe

Traded Products

  • Optical transport network products, like, DWDM
  • Managed leased line network (MLLN) products
  • Signalling Transfer Point (STP) network products
  • IP/MPLS routers and switches
  • Network management system solution
  • Microwave and satellite communication equipment
  • Next generation network equipment
  • IT products and solutions

Services

  • Installation, Commissioning and Maintenance services for Telecom and other supplied equipment
  • Contract manufacturing services
  • Component screening services
  • Data Centre hosting services etc

Awards

FY 2017-18

  • A Certificate of Appreciation was awarded to ITI Limited in recognition of its significant contribution as ‘best performing equipment supply partners’ to achieve BharatNet Phase I target for connecting over one lakh Gram Panchayats.
  • ITI Raebareli plant has been conferred with the National Safety Awards for the Performance Year 2015 for Outstanding Performance in Safety at industrial establishments for maintaining consistent safety standards.
  • ITI Limited was awarded Indywood Built in India Excellence Awards 2017 in the category of Public Sector - Telecommunications at Ramoji Film City, Hyderabad on December 4, 2017. The award was presented to ITI Limited in recognition of efforts made by the organization to boost the concept of ‘Make in India’ towards the development of telecommunication sector. Indywood Built In India Excellence Awards 2017 was organized as a part of Project Indywood, a $10 Billion Project to be initiated by a consortium of 2000 Indian Corporate and Multi-Millionaires.
  • ITI Limited received India’s Best HR Leaders in PSUs Award from ASIA PACIFIC HRM CONGRESS, TIMES ASCENT hosted by World HRD Congress, Times ASCENT group on September 19, 2017.
  • ITI Limited was honoured with Pride of Karnataka Awards 2017 for Corporate Excellence.
  • ITI was conferred with ‘NIPM LIFE TIME ACHIEVEMENT AWARD 2017’ for Government Administration by National Institute of Personnel Management (NIPM), Palghat Group, Kerala Chapter at the ‘NIPM AWARD NITE 2018’ held at Lead College of Management, Dhoni, Palakkad on January 20, 2018.

FY 2018-19

  • ITI Limited has won ‘India’s Best Company’ Award for the year 2018. ITI was presented the award based on Berkshire Media’s survey and analysis of company’s performance. The IBC Corporate Awards 2019 ceremony was held on March 8, 2019 at The Leela Hotel, Mumbai.
  • ITI Limited received ‘CEO with HR Orientation’ and Shri Shashi Prakash Gupta, Director (HR), ITI Limited received ‘Pride of HR Professional in PSU’ award by World HRD Congress (WHRD) at the 27th Edition of the Congress held on February 15 and 16, 2019.
  • ITI Limited received Best PSU Award in Digital PSU Category by ‘Governance Now’ at 6th PSU Awards held on January 17, 2019 at The Imperial, New Delhi.
  • Outstanding Safety Performance ‘Suraksha Puraskar Award’ was conferred on ITI Palakkad Plant by National Safety Council, Kerala Chapter. ITI Palakkad Plant has won the award for achieving the lowest frequency rate of accidents in the category ‘large size engineering industries’ in industrial safety.
  • ITI Limited has received Certificate of Compliance for Master Card production at Palakkad Plant from Master Card Certification Body, New York. ITI Limited has now become the first Public Sector Unit in the country certified for RuPay and MasterCard production and is the ‘Certified Vendor’ under the Master Card Global Vendor Certification Program.
  • ITI Limited has earned a position in the Top 50 in Fortune India’s ‘The Next 500’ ranking for the year 2019. It figures at 39th rank on the Fortune India’s list.
  • ITI Limited has won Indywood Excellence Award 2018. Shri K Alagesan, CMD, ITI Limited received the award from Shri Mohammed Ibrahim Al Qahtani at Indywood Film Carnival 2018 organized at Hitex, Convention Center, Hyderabad on December 4, 2018.
  • ITI Palakkad Plant received a Certificate of Merit in appreciation of efforts in pollution control and initiatives in environment protection in 2018 in the category of Engineering & Electronic Industries.
  • ITI Limited has won Digital PSU Award for the year 2018.
  • ITI Bangalore Plant and ITI Rae Bareli Plant have won the prestigious National Safety Awards for the performance year 2016 as Winner for excellent performance in Industrial Safety based on Accident Free Year and as Runner Up for outstanding performance in Industrial Safety in achieving Lowest Average Frequency Rate and in achieving Accident Free Year respectively

FY 2019-20

  • ITI Limited bagged the prestigious ‘Company of the Year - PSU award at the second edition of CNBC-AWAAZ CEO AWARDS 2019. Shri R M Agarwal, Chairman & Managing Director, ITI Limited and Shri Shashi Prakash Gupta, DirectorHuman Resource received the prestigious award from Shri Bhupesh Baghel, Chief Minister, Chhattisgarh at the grand ceremony held in Raipur on February 7, 2020.
  • Sustainable HR Leadership Award was conferred to Shri Shashi Prakash Gupta, Director (HR), ITI Limited by World HRD Congress. The award ceremony was held on February 16, 2020 at Taj Lands End, Mumbai.
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