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BSE: 543990 | NSE: SIGNATURE | Construction - Real Estate | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Signatureglobal (India) Ltd is a below average quality company.
The key valuation ratios of Signatureglobal (India) Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Signatureglobal (India) Ltd is likely to Rise-somewhat 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.
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 5% | 6.1% | 3% | -0.8% | - |
| Value Creation Index ⓘ | -0.6 | NA | NA | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 214 | 242 | 343 | 862 | 862 |
| Sales YoY Gr. | - | 13.1% | 41.4% | 151.5% | - |
| Adj EPS ⓘ | -0.2 | -3.7 | -5.2 | -7.2 | -8 |
| YoY Gr. | - | NA | NA | NA | - |
| BVPS (₹) ⓘ | 8.2 | -0.5 | -6 | 22.6 | 61.5 |
| Adj Net Profit ⓘ | -2 | -42.1 | -59.4 | -89.3 | -113 |
| Cash Flow from Ops. ⓘ | 123 | 30.3 | 69 | 37.2 | - |
| Debt/CF from Ops. ⓘ | 7.7 | 33 | 12.8 | 16 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 59% | 151.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | 40.3% | NA | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | -2.1 | -95.7 | 162 | -83.4 | -19.1 |
| Op. Profit Mgn % ⓘ | 1.7 | -3.9 | -8.1 | 0.4 | -1.7 |
| Net Profit Mgn % ⓘ | -0.9 | -17.4 | -17.3 | -10.4 | -13.1 |
| Debt to Equity ⓘ | 10.2 | -193.1 | -13 | 2.1 | - |
| Working Cap Days ⓘ | 0 | 1,936 | 1,651 | 680 | 280 |
| Cash Conv. Cycle ⓘ | 0 | 634 | 686 | 290 | 89 |
Sales growth is growing at healthy rate in last 3 years 59.03%
Sales growth is good in last 4 quarters at 43.81%
Return on Equity is Poor
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -8 | -4.6 |
| TTM Sales (₹ Cr.) | 862 | 1,554 |
| BVPS (₹.) ⓘ | 61.5 | 42 |
| Reserves (₹ Cr.) ⓘ | 850 | 577 |
| P/BV ⓘ | 20.48 | 29.94 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 444.10 / 1438.00 |
| All Time Low / High (₹) | 444.10 / 1438.00 |
| Market Cap (₹ Cr.) | 17,682 |
| Equity (₹ Cr.) | 14.1 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 83.8 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Sales | 214 | 242 | 343 | 862 |
| Operating Expenses ⓘ | 211 | 252 | 385 | 894 |
| Manufacturing Costs | 0 | 0 | 2 | 6 |
| Material Costs | 158 | 196 | 288 | 729 |
| Employee Cost | 23 | 29 | 47 | 71 |
| Other Costs ⓘ | 29 | 28 | 47 | 87 |
| Operating Profit ⓘ | 4 | -10 | -42 | -31 |
| Operating Profit Margin (%) | 1.7% | -3.9% | -12.4% | -3.6% |
| Other Income ⓘ | 76 | 159 | 98 | 68 |
| Interest ⓘ | 78 | 149 | 124 | 118 |
| Depreciation ⓘ | 7 | 11 | 17 | 20 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -6 | -10 | -85 | -102 |
| Tax ⓘ | -4 | -3 | -16 | 11 |
| Profit After Tax | -2 | -8 | -70 | -113 |
| PAT Margin (%) | -0.9% | -3.1% | -20.3% | -13.1% |
| Adjusted EPS (₹) | -0.2 | -0.7 | -6.1 | -9.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 93 | -5 | -68 | 282 | ||||||
| Share Capital ⓘ | 6 | 6 | 11 | 12 | ||||||
| Reserves ⓘ | 88 | -11 | -79 | 270 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 739 | 828 | 644 | 402 | ||||||
| Long Term Debt | 474 | 689 | 570 | 326 | ||||||
| Short Term Debt | 265 | 139 | 73 | 76 | ||||||
| Trade Payables | 75 | 116 | 238 | 279 | ||||||
| Others Liabilities ⓘ | 472 | 850 | 1,146 | 1,076 | ||||||
| Total Liabilities ⓘ | 1,379 | 1,790 | 1,960 | 2,039 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 34 | 91 | 123 | 137 | ||||||
| Accumulated Depreciation | 16 | 31 | 52 | 73 | ||||||
| Net Fixed Assetsⓘ | 18 | 60 | 71 | 64 | ||||||
| CWIP ⓘ | 2 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 151 | 151 | 149 | 156 | ||||||
| Inventories | 251 | 554 | 815 | 776 | ||||||
| Trade Receivables | 109 | 112 | 132 | 169 | ||||||
| Cash Equivalents | 112 | 103 | 56 | 172 | ||||||
| Others Assetsⓘ | 737 | 810 | 738 | 701 | ||||||
| Total Assets ⓘ | 1,379 | 1,790 | 1,960 | 2,039 | ||||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 123 | 30 | 69 | 37 |
| PBT ⓘ | -6 | -10 | -85 | -102 |
| Adjustment ⓘ | 11 | 3 | 61 | 106 |
| Changes in Working Capital ⓘ | 131 | 31 | 93 | 43 |
| Tax Paid ⓘ | -13 | 6 | 1 | -10 |
| Cash Flow From Investing Activity ⓘ | -125 | -26 | 210 | 158 |
| Capex | -17 | -46 | -89 | -13 |
| Net Investments | -15 | 5 | 11 | -4 |
| Others ⓘ | -94 | 15 | 287 | 175 |
| Cash Flow From Financing Activityⓘ | 108 | -42 | -322 | -72 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 194 | 180 | -51 | 59 |
| Interest Paid ⓘ | -95 | -94 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | -201 | -128 |
| Others ⓘ | 9 | -128 | -69 | -3 |
| Net Cash Flow ⓘ | 106 | -38 | -43 | 123 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -2.12 | N/A | N/A | -105.09 | ||||||
| ROCE (%) | 6.87 | N/A | N/A | 1.94 | ||||||
| Asset Turnover Ratio | 0.16 | 0.15 | 0.18 | 0.43 | ||||||
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | Working Capital Days | |||||
| Receivable Days | 185 | 166 | 130 | 64 | ||||||
| Inventory Days | 427 | 606 | 729 | 337 | ||||||
| Payable Days | 174 | 179 | 225 | 129 | ||||||
The company was originally incorporated as a private limited company under the Companies Act, 1956, in the name of ‘Ridisha Marketing Private Limited’ and was granted a certificate of incorporation dated March 28, 2000, by the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (RoC). The name of the company was changed to ‘Signatureglobal (India) Private Limited’ pursuant to a special resolution passed by its Shareholders on January 6, 2014, and a fresh certificate of incorporation pursuant to change of name dated January 20, 2014, was issued by the RoC. The company was converted from a private limited company to a public limited company pursuant to a special resolution passed by its Shareholders on February 14, 2022, and the name of the company was changed to ‘Signatureglobal (India) Limited’. A fresh certificate of incorporation dated March 10, 2022, consequent upon change of name and upon conversion to a public limited company was granted by the RoC.
The company is the largest real estate development company in the National Capital Region of Delhi (Delhi NCR) in the affordable and lower mid segment housing in terms of units supplied (in the below Rs 8 million price category) between 2020 and the three months ended March 31, 2023, with a market share of 19%. It commenced operations in 2014 through its Subsidiary, Signature Builders, with the launch of its Solera project on 6.13 acres of land in Gurugram, Haryana. The company has strategically focused on the Affordable Housing (AH) segment (below Rs 4 million price category) and the Middle Income Housing (MH) segment (between Rs 4 million to Rs 2.5 million private category) through GoI and state government policies. The company has adopted an integrated real estate development model, with in-house capabilities and resources to execute projects from inception to completion which enables it to offer its projects at competitive prices. Among its core strengths is its ability to efficiently turnaround projects on land that it tie-up and it has typically launched projects within a period of 18 months from the date of acquisition of the land. Its high asset turnover has enabled it to generate positive cash flows in a relatively short period of time to support further developments.
In addition, going forward the company will also develop some of its Forthcoming Projects under the Haryana Group Housing Policy (HGHP) and New Integrated Licensing Policy (NILP) combining them with the provisions of Transit Oriented Development Policy (TODP) and Transfer of Development Rights Policy (TDRP), which it will enable it to achieve higher FAR, hence higher developable area as well as higher density to target the MH segment. The TODP aims to encourage development around metro corridors for which extra FAR and higher density has been allowed. The TDRP provides industry participants with FAR in lieu of land which goes into public use, and such FAR can be loaded by developers on to their projects along with an increased density.
Business area of the company
Incorporated in 2000, Signatureglobal (India) is a real estate development company. The company operates in the National Capital Region of Delhi (Delhi NCR) focussed on offering affordable and mid-segment housing in terms of units supplied.
Awards and Accreditations
Major events and milestones
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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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