BPL Ltd - Stock Valuation and Financial Performance

BSE: 500074 | NSE: BPL | Electronics - Components | Small Cap

BPL Share Price

98.46 -1.31 -1.31%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on BPL

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

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

BPL stock performance -

mw4me loader
P/E Ratio (SA):
30.44
Market Cap:
482.2 Cr.
52-wk low:
54.2
52-wk high:
127.5

Is BPL Ltd an attractive stock to invest in?

1. Is BPL Ltd a good quality company?

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

2. Is BPL Ltd undervalued or overvalued?

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

3. Is BPL Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of BPL 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 BPL:

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.
BPL 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 % -43.1%0.9%-7.1%8%-0.2%1%2.6%-11.6%8.4%3.2%-
Value Creation
Index
-4.1-0.9-1.5-0.4-1.0-0.9-0.8-1.8-0.4-0.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 45.823.940.493.912414094.643.838.252.266
Sales YoY Gr.--47.9%68.9%132.7%32.3%12.9%-32.6%-53.7%-12.7%36.7%-
Adj EPS -26.80.4-3.73-0.40.10.6-4.42.71.23.2
YoY Gr.-NA-936.4%NA-112.5%NA625%-856.9%NA-56.2%-
BVPS (₹) 14.41614.232.233.733.934.730.433.848.251
Adj Net
Profit
-1312.2-1814.5-1.80.42.8-21.5135.716
Cash Flow from Ops. 7-121-20.1-60.13.7-6.58.41.3-0.46.4-
Debt/CF from Ops. 00-0.3-0.41.7-1.41.49.9-25.70.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 1.5%-15.9%-18%36.7%
Adj EPS NANA26%-56.2%
BVPS14.4%7.4%11.5%42.6%
Share Price 20% 30.4% 64.3% 58.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-43.20.9-7.47.3-1.10.21.7-13.58.32.86.5
Op. Profit
Mgn %
-18.12.6-2.1-23.58.22.2-17.35.20.212.524.8
Net Profit
Mgn %
-285.79-44.615.5-1.50.33-49.133.910.824.1
Debt to
Equity
0000.200.10.10.10.10-
Working Cap
Days
4011,4311,5848797346749792,0551,820939267
Cash Conv.
Cycle
466838982313733414011683-219

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 6.50%

Net Profit is growing at healthy rate in last 3 years 25.99%

Sales growth is good in last 4 quarters at 44.46%

Sales growth has been subdued in last 3 years -17.96%

Latest Financials - BPL Ltd.

Standalone Consolidated
TTM EPS (₹) 3.2 3.1
TTM Sales (₹ Cr.) 65.7 65.7
BVPS (₹.) 51 51
Reserves (₹ Cr.) 201 201
P/BV 1.93 1.93
PE 30.44 31.57
From the Market
52 Week Low / High (₹) 54.20 / 127.50
All Time Low / High (₹) 7.99 / 636.00
Market Cap (₹ Cr.) 482
Equity (₹ Cr.) 49
Face Value (₹) 10
Industry PE 89.6

Management X-Ray of BPL:

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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales4624409412414095443852
Operating Expenses 542341116114137111413846
Manufacturing Costs2111222223
Material Costs321329699311483282529
Employee Cost 9345688667
Other Costs 125741131418657
Operating Profit -81-1-22103-16206
Operating Profit Margin (%) -18.2%2.6%-2.1%-23.5%8.2%2.2%-17.3%5.2%0.2%12.4%
Other Income 1471680153211110
Interest 0014223221
Depreciation 1201001222
Exceptional Items 0000000000
Profit Before Tax 461453234-17-1813
Tax 1320230153-2121-57
Profit After Tax -1276-853714-21136
PAT Margin (%) -277.0%23.3%-20.9%56.5%5.9%0.7%4.0%-49.1%33.9%10.9%
Adjusted EPS (₹)-26.01.1-1.710.91.50.20.8-4.42.71.2
Dividend Payout Ratio (%)0%0%0%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 240248239157165166170149165236
Share Capital 21821821849494949494949
Reserves 212921109116117121100116187
Minority Interest0000000000
Debt00724691213102
Long Term Debt0074002200
Short Term Debt0002069910102
Trade Payables111011131316141146
Others Liabilities -51-61-2137145148132155151156
Total Liabilities 199197255332329339327327331399

Fixed Assets

Gross Block72717165595976764145
Accumulated Depreciation58595958535454562223
Net Fixed Assets15121276522201922
CWIP 0000040000
Investments 13621215858585856175240
Inventories2252014148664
Trade Receivables31161161191910161314
Cash Equivalents 343131241212
Others Assets404299222230234228227118118
Total Assets 199197255332329339327327331399

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 7-121-20-604-78106
PBT 461453234-17-1813
Adjustment -4-3-12-52-11124-7-6
Changes in Working Capital 7-125-22-62-8-1124-2-1-1
Tax Paid 0000000000
Cash Flow From Investing Activity 10122145715-4-11044
Capex 106135614-4-1200-4
Net Investments 000000000-1
Others 011600000049
Cash Flow From Financing Activity -210614-2020-1-4-10
Net Proceeds from Shares -21000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 00-1-3-2-2-2-2-2-1
Dividend Paid 0000000000
Others 00717-18331-2-9
Net Cash Flow -41-111-1-9-30-10
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-95.077.5-11.4446.744.560.562.24-13.488.252.85
ROCE (%)1.462.36.1326.7314.063.21-8.220.985.577.06
Asset Turnover Ratio0.240.130.190.330.380.420.290.130.120.14
PAT to CFO Conversion(x)N/A-20.17N/A-1.130.57-72N/A01
Working Capital Days
Receivable Days8282996623730375610613794
Inventory Days37282945493641565536
Payable Days1052811326451466516411168

BPL Ltd Stock News

BPL Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of BPL on 12-Apr-2024 16:59 is ₹98.46.
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 BPL stood at ₹482.2.
The latest P/E ratio of BPL as of 12-Apr-2024 16:59 is 30.44.
The latest P/B ratio of BPL as of 12-Apr-2024 16:59 is 1.93.
The 52-week high of BPL is ₹127.5 and the 52-week low is ₹54.20.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of BPL is ₹65.70 ( Cr.) .

About BPL Ltd

Incorporated in 1963 as a private limited concern under the name British Physical Laboratories India, the company is popularly known as BPL. The company was established as a single product company manufacturing high precision hermetically sealed panel meters for defence applications.

Within a span of five years, BPL has exemplified the quest for excellence in the world of medical products becoming the country’s foremost in manufacturing electro-cardiographs. With the increasing nationwide infrastructure development in power and telecommunication, BPL ventured into this field with its Power Line Communications Carrier (PLCC) and continues to be a leader in this field. With the advent of televisions in India, BPL used its manufacturing strengths and strong technical tie up with Sanyo of Japan to launch the BPL brand televisions in the Indian market. With relentless commitment to quality, consistent dedication to customer satisfaction and unparalleled standards of service, BPL is recognized as a benchmark for new age technology, superior quality, digital concepts and personalized service that has ensured loyal customers and nationwide acclaim in the industry.

The company operates subsidiaries namely BPL Display Devices, Bharat Energy Ventures, and BPL Securities.

BPL established its image as a reliable and strong brand in the consumer durables market, a reputation that it still enjoys. In India, BPL has its footprint across the country through a distribution network comprising of over 7000 channel partners.

Products

  • Mobile Products
  • Landline Phones
  • Home Theatre
  • Television
  • Household products that includes products for home lighting, home UPS, gas tables and cooking hubs.
  • Medical systems, which includes healthcare products caters various segments such as cardiology, patient monitoring systems, imaging, gynaecology, oxyenators, nebulisers and welch allyn range.
  • Enterprise communication products include communication solutions, digital switches, mini EPABX systems, DKX series of telephone systems and convex voice processing system.
  • Energy communications equipments
  • Other products include engineering design and tool room, moulding shop, PCB and GSM modules.

Milestones

  • 1963: British Physical Laboratories India -- a private limited established for the manufacture of hermetically sealed panel meters in collaboration with BPL (Instruments), UK.
  • 1967: Commencement of manufacture of electrocardiographs in technical collaboration with Fukuda Electric Co, Japan.
  • 1971: Commencement the manufacture of Power Line Carrier Communication Equipment.
  • 1972: The company formed technical collaboration with Nihon Kohden Kogyo Company, Japan for patient monitoring systems.
  • 1975: The company established an independent marketing and sales department.
  • 1979: BPL collaborated with Gestetner of the UK to manufacture of plain paper copiers.
  • 1982: BPL forayed into consumer electronics.
  • 1984: It started manufacturing of EPABX and telephone instruments.
  • 1985: BPL received industrial license for manufacture of VCRs in collaboration with Sanyo.
  • 1989: The company diversified into home appliance business in collaboration with Sanyo.
  • 1994: It started manufacturing of kitchen appliances.
  • 1995: The company commenced of mobile telephony services in Mumbai, Maharashtra, Tamilnadu and Kerala.
  • 1996: BPL took over Uptron's CPT unit from BIFR.
  • 1997: It diversified into the manufacture and distribution of batteries (dry cells and alkaline).
  • 2000: The company formed strategic alliance with Slovenian Manufacturing Company for off-shore manufacturing in Europe.
  • 2001: BPL set up state-of-the-art design and development centre for systems and embedded software solutions at BPL Telecom.
  • 2005: The company entered into a JV with Sanyo for CTV manufacture and distribution.

Future Plans

BPL’s R&D facility is continuously working on developing new products in order to cater domestic and international consumers.

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