BSE: 531381 | NSE: ARIHANT | Construction - Real Estate | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Arihant Foundations & Housing Ltd is a below average quality company.
The key valuation ratios of Arihant Foundations & Housing Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Arihant Foundations & Housing Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.3% | 3.4% | 1.4% | 5% | 4.4% | 4.6% | 3.6% | 3.9% | 3.7% | 7% | - |
| Value Creation Index ⓘ | -0.8 | -0.8 | -0.9 | -0.7 | -0.7 | -0.7 | -0.7 | -0.7 | -0.7 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 64.4 | 52.9 | 57.5 | 54.7 | 39.3 | 63 | 17.2 | 31.4 | 48.4 | 39.2 | 63 |
| Sales YoY Gr. | - | -17.9% | 8.8% | -4.8% | -28.2% | 60.2% | -72.7% | 82.4% | 54.1% | -18.9% | - |
| Adj EPS ⓘ | 3.5 | 1.2 | -4.9 | 1.7 | 0.5 | -6.8 | -5.8 | 0.4 | 0.5 | 1.4 | 1.7 |
| YoY Gr. | - | -65.7% | -510.8% | NA | -69.6% | -1433.3% | NA | NA | 28.2% | 170% | - |
| BVPS (₹) ⓘ | 192.9 | 155.5 | 150.6 | 174.2 | 174.9 | 177.3 | 178.8 | 179.3 | 194.2 | 195.5 | 197.2 |
| Adj Net Profit ⓘ | 3 | 1 | -4.2 | 1.4 | 0.4 | -5.9 | -5 | 0.3 | 0.4 | 1.2 | 1 |
| Cash Flow from Ops. ⓘ | -16.7 | -24.5 | 14.8 | 3.7 | 25.1 | -40.1 | 9.9 | -12.5 | 59.1 | -16.2 | - |
| Debt/CF from Ops. ⓘ | -6.2 | -5.6 | 7.6 | 37.5 | 5.3 | -3.3 | 12.4 | -8.1 | 1.8 | -8.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -5.4% | -0% | 31.6% | -18.9% | ||||
| Adj EPS ⓘ | -10% | 21.5% | NA | 170% | ||||
| BVPSⓘ | 0.2% | 2.3% | 3% | 0.7% | ||||
| Share Price | 15.3% | 32.7% | 97.8% | 270.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.8 | 0.8 | -3.2 | 0.9 | 0.3 | -3.9 | -3.3 | 0.2 | 0.3 | 0.7 | 0.9 |
| Op. Profit Mgn % ⓘ | 11.7 | 11.9 | -5.5 | 8 | 1.4 | -4 | -6 | -1.8 | 9.3 | 24.5 | 7 |
| Net Profit Mgn % ⓘ | 4.7 | 2 | -7.4 | 2.6 | 1.1 | -9.3 | -28.9 | 1.1 | 0.9 | 3 | 2.3 |
| Debt to Equity ⓘ | 0.6 | 1 | 0.9 | 0.9 | 0.9 | 0.9 | 0.8 | 0.7 | 0.6 | 0.8 | - |
| Working Cap Days ⓘ | 1,851 | 1,953 | 1,841 | 2,344 | 3,062 | 1,880 | 6,919 | 3,756 | 2,473 | 3,229 | 1,199 |
| Cash Conv. Cycle ⓘ | 695 | 734 | 608 | 530 | 959 | 764 | 2,722 | 1,175 | 366 | -246 | 353 |
Return on Equity has increased versus last 3 years average to 0.90%
Sales growth is growing at healthy rate in last 3 years 31.63%
Debt to equity has declined versus last 3 years average to 0.82
Sales growth is good in last 4 quarters at 143.01%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.7 | 17 |
| TTM Sales (₹ Cr.) | 63.4 | 92.2 |
| BVPS (₹.) ⓘ | 197.2 | 221.7 |
| Reserves (₹ Cr.) ⓘ | 161 | 182 |
| P/BV ⓘ | 0.69 | 0.61 |
| PE ⓘ | 78.74 | 7.97 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 35.20 / 144.50 |
| All Time Low / High (₹) | 3.77 / 685.50 |
| Market Cap (₹ Cr.) | 117 |
| Equity (₹ Cr.) | 8.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 81.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 64 | 66 | 72 | 55 | 39 | 63 | 17 | 31 | 48 | 39 |
| Operating Expenses ⓘ | 57 | 58 | 76 | 50 | 39 | 66 | 18 | 32 | 44 | 30 |
| Manufacturing Costs | 23 | 18 | 9 | 13 | 13 | 9 | 7 | 6 | 13 | 17 |
| Material Costs | 27 | 31 | 55 | 22 | 16 | 45 | -1 | 12 | 22 | -2 |
| Employee Cost | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 4 |
| Other Costs ⓘ | 5 | 7 | 10 | 13 | 7 | 9 | 10 | 10 | 7 | 11 |
| Operating Profit ⓘ | 7 | 8 | -4 | 4 | 1 | -3 | -1 | -1 | 4 | 10 |
| Operating Profit Margin (%) | 11.5% | 11.8% | -5.6% | 7.9% | 1.4% | -4.0% | -6.0% | -1.8% | 9.3% | 24.5% |
| Other Income ⓘ | 5 | 7 | 12 | 18 | 20 | 32 | 25 | 16 | 11 | 19 |
| Interest ⓘ | 8 | 13 | 14 | 19 | 17 | 27 | 22 | 14 | 13 | 27 |
| Depreciation ⓘ | 1 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 2 | -8 | 2 | 2 | 2 | 2 | 1 | 2 | 2 |
| Tax ⓘ | 1 | 0 | -3 | 1 | 2 | 1 | 1 | 0 | 0 | 0 |
| Profit After Tax | 2 | 1 | -5 | 1 | 0 | 1 | 2 | 0 | 1 | 1 |
| PAT Margin (%) | 2.6% | 1.9% | -7.3% | 2.6% | 1.1% | 2.3% | 8.8% | 1.5% | 2.2% | 2.9% |
| Adjusted EPS (₹) | 1.9 | 1.5 | -6.1 | 1.7 | 0.5 | 1.7 | 1.8 | 0.6 | 1.2 | 1.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 166 | 167 | 162 | 150 | 150 | 152 | 154 | 154 | 167 | 168 |
| Share Capital ⓘ | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves ⓘ | 157 | 159 | 153 | 141 | 142 | 144 | 145 | 146 | 158 | 160 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 77 | 145 | 123 | 125 | 99 | 110 | 102 | 74 | 64 | 106 |
| Long Term Debt | 77 | 145 | 123 | 125 | 99 | 110 | 102 | 74 | 64 | 106 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 31 | 30 | 25 | 57 | 26 | 23 | 28 | 47 | 69 | 82 |
| Others Liabilities ⓘ | 114 | 76 | 91 | 33 | 87 | 64 | 72 | 77 | 86 | 75 |
| Total Liabilities ⓘ | 388 | 419 | 401 | 364 | 363 | 349 | 356 | 353 | 387 | 431 |
Fixed Assets | ||||||||||
| Gross Block | 18 | 18 | 18 | 18 | 18 | 16 | 14 | 13 | 15 | 15 |
| Accumulated Depreciation | 4 | 5 | 7 | 7 | 8 | 8 | 7 | 7 | 7 | 7 |
| Net Fixed Assetsⓘ | 14 | 13 | 12 | 11 | 10 | 8 | 7 | 7 | 8 | 8 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 17 | 20 | 19 | 12 | 24 | 12 | 11 | 23 | 40 | 41 |
| Inventories | 92 | 108 | 80 | 81 | 76 | 88 | 99 | 90 | 77 | 90 |
| Trade Receivables | 89 | 44 | 67 | 72 | 76 | 77 | 80 | 39 | 41 | 42 |
| Cash Equivalents | 10 | 26 | 5 | 3 | 7 | 2 | 14 | 3 | 4 | 23 |
| Others Assetsⓘ | 166 | 208 | 218 | 185 | 170 | 162 | 146 | 192 | 217 | 227 |
| Total Assets ⓘ | 388 | 419 | 401 | 364 | 363 | 349 | 356 | 353 | 387 | 431 |
| PARTICULARS | Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -17 | -31 | 19 | 4 | 25 | -40 | 10 | -12 | 59 | -16 |
| PBT ⓘ | 2 | 2 | -8 | 2 | 2 | 2 | 2 | 1 | 2 | 2 |
| Adjustment ⓘ | 3 | 7 | 4 | 0 | -2 | -2 | -8 | -9 | 8 | -1 |
| Changes in Working Capital ⓘ | -20 | -39 | 23 | 1 | 33 | -39 | 17 | -2 | 46 | -17 |
| Tax Paid ⓘ | -3 | 0 | 0 | 0 | -8 | -1 | 0 | -2 | 4 | 0 |
| Cash Flow From Investing Activity ⓘ | 4 | 4 | 12 | 25 | 1 | 41 | 25 | 2 | -9 | 19 |
| Capex | -1 | 0 | 0 | 0 | 0 | 12 | 9 | 0 | -1 | 0 |
| Net Investments | 0 | -3 | 1 | 9 | -12 | 12 | 2 | -12 | -18 | -1 |
| Others ⓘ | 5 | 7 | 12 | 17 | 13 | 18 | 14 | 14 | 9 | 19 |
| Cash Flow From Financing Activityⓘ | 13 | 42 | -51 | -31 | -22 | -7 | -23 | -1 | -49 | 15 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | -25 | 11 | -8 | 7 | -27 | -8 |
| Interest Paid ⓘ | -8 | -13 | -14 | -14 | -12 | -21 | -15 | -5 | -7 | -18 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 22 | 55 | -37 | -17 | 16 | 4 | 0 | -3 | -16 | 41 |
| Net Cash Flow ⓘ | 1 | 15 | -20 | -2 | 5 | -5 | 12 | -11 | 1 | 17 |
| PARTICULARS | Sep'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.01 | 0.77 | -3.17 | 0.93 | 0.29 | 0.97 | 0.99 | 0.31 | 0.66 | 0.69 |
| ROCE (%) | 4 | 4.72 | 1.95 | 7.24 | 6.86 | 10.25 | 8.47 | 5.67 | 5.66 | 9.96 |
| Asset Turnover Ratio | 0.18 | 0.16 | 0.18 | 0.14 | 0.11 | 0.18 | 0.05 | 0.09 | 0.13 | 0.1 |
| PAT to CFO Conversion(x) | -8.5 | -31 | N/A | 4 | N/A | -40 | 5 | N/A | 59 | -16 | Working Capital Days |
| Receivable Days | 427 | 367 | 283 | 465 | 687 | 443 | 1,665 | 691 | 302 | 385 |
| Inventory Days | 465 | 552 | 477 | 535 | 727 | 475 | 1,990 | 1,100 | 628 | 777 |
| Payable Days | 384 | 361 | 184 | 678 | 938 | 200 | -9,840 | 1,125 | 953 | 0 |
Arihant Foundations & Housing was incorporated in the year 1995. Since then the company has changed the skyline of Chennai, with passion for unique architectural concepts and offers citizens a sophisticated work environment with modern standard of living.
The company has an excellent track record of over 25 years in the construction industry, creating a winning collaboration with leading developers like Unitech and Foreign investors such as JP Morgan and Samsara Cap. It has partnered with global industry leaders for construction such as Larsen and Turbo, Consolidated Construction Consortium and Simplex Projects. Arihant also has alliances with international players for architecture and landscaping - Architects Team 3, Taib Landscape Studio, PDAA Landscape Designers, CPG Consultants. With development of over six million sq.ft across residential and commercial space and another sixteen million sq.ft of forthcoming projects in the next four years, the company is still transforming lives through innovative change
Arihant Foundations and Housing is a public limited company listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) where it enjoys the trust of retail, high net worth and institutional investors thanks to its one of the best dividend paying track-record in the real estate sector.
Arihant's properties such as Arihant Trade Centre, Arihant Ocean Tower, Arihant Majestic Towers and Arihant Vaikunt, are the prestigious landmarks of Chennai today. Arihant Trade Centre won the 'Project of the Year' award of Government of Maharashtra in 1995. Arihant Majestic Towers is one of the largest residential complexes in Tamil Nadu, while Arihant Ocean Tower is one of the tallest residential complexes in Chennai. Arihant develops customized IT parks since late nineties and caters to the plug & play building needs of the booming IT and ITeS industry. It has created world class IT parks with built-in intelligence, aesthetic designs and landscaped surroundings for leading high-tech organizations like Verizon, Syntel, Hutch, HCL Technologies, Sterling Infotech, Ajuba Solutions, etc. Arihant E-Park and Arihant Technopolis showcase the Arihant e-dge and competency in designing high-performance technology workspaces.
Arihant has been among the first few to bring in the concept of multi-storey buildings in Chennai. It plans to consolidate and remain focused on the lucrative southern markets -- Chennai, Coimbatore, Madurai, Vijayawada and Hyderabad.
The company has completed more than 3500 residential units and plans to develop sixteen million sq ft within the next four years catering to the high and exclusive villa segments as well as the middle and upper middle segments. With extensive networking and sourcing capabilities, it ensures better project management and control. There is constant tracking of consumer trends and buying patterns to create new business opportunities.
Business areas of the company:
Arihant caters to building segments such as villas, apartments, IT parks, hotels, shopping malls, multiplexes, developed plots and commercial buildings. It has a great ability to serve a diverse range of clients from individual home buyers to commercial clients to multi-unit investors.
Partners:
• JPMorgan - In a 50:50 SPV for a 45 acres villa development project on GST
• Unitech - In a 50:50 SPV for a 45 acres joint development on OMR
• Samsara - In an SPV for a 4.7 million sq ft of mixed development in Vijaywada, Andhra Pradesh
Clients:
Verizon, Dupont, Malaysian Airlines, NSE, HCL, Vodafone, ICICI, Sterling Groups
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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