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Simplex Projects Ltd. Stock Analysis

Small Cap
Evaluated by 177 users | BSE: 532877 | NSE: SIMPLEX |
Construction - Real Estate
Simplex Projects (SPL) was incorporated in the year 1990 as a public limited company. The registered office of the company at Calcutta controls project sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company. The company has...

Analysis of Financial Track Record

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.
Value Creation
 Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Capital Employed 14.16%14.68%11.7%5.7%5.8%6.18%1%-3.86%4.54%0.89%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 294557626441427548383398482256
Y-o-Y Gr. Rt.-89.5%12.4%-29.6%-3.1%28.3%-30.1%3.9%21%-46.8%
Adjusted EPS (Rs.) 16.623.0325.643.8646.31-28.71-65.693.861.69
Y-o-Y Gr. Rt.-38.7%11.3%-85%3.6%57.8%-555%NANA-56.2%
Book Value per Share (Rs.) 117.09141.25168.22170.91174.19168.19148.1793.9990.1194.93
Adjusted Net Profit 19.92932.34.958-36.2-82.84.92.1
Net Op. Cash Flow (Rs. Cr.) -3.887.4-76.5-39.5-36.446.37.6-68.927.735.4
Debt to Cash Flow from Ops -24.581.94-4.41-8.71-11.089.0160.62-8.5821.8916.09
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Simplex Projects Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -1.5%-9.7%-12.6%-46.8%
Adjusted EPS -22.4%-15.8%NA-56.2%
Book Value per Share -2.3-11.4-13.85.4
Share Price -20% -13.1% -34.4% -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Equity (%) 15.1418.2216.572.272.323.69-18.15-54.254.191.82
Operating Profit Margin (%) 12.2210.9711.9811.8912.6410.558.392.759.786.35
Net Profit Margin (%) 6.785.215.161.11.181.45-9.44-20.791.010.83
Debt to Equity 0.670.951.591.61.841.972.4655.344.77
Working Capital Days 2662024219451,1019841,5471,5761,3122,487
Cash Conversion Cycle 1851402976888377341,1351,1891,0772,066
Entity Percentage Holding
Promoters 56.26%
Non-Institutions 43.74%
Pledged *62.4262.4262.4262.4262.4262.4262.4262.4229.9729.97
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Simplex Projects's performance infers:

Simplex Projects earnings have declined by -15.8%, whereas share price has depreciated -13.1% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Simplex Projects share prices over the last 10 years. Here is what we found out:

Simplex Projects share price has depreciated -28.4% annually over the past ten years.

Simplex Projects (SPL) was incorporated in the year 1990 as a public limited company. The registered office of the company at Calcutta controls project sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company. The company has procured a fleet of costruction equipment over this period.

Simplex Projects has complete access to technical collaborations with International construction giants for

Simplex Projects (SPL) was incorporated in the year 1990 as a public limited company. The registered office of the company at Calcutta controls project sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company. The company has procured a fleet of costruction equipment over this period.

Simplex Projects has complete access to technical collaborations with International construction giants for advanced techniques and research facilities in construction. Having constructed over 70 Road and Rail-over-Bridges, over half a million square feet of residential and commercial buildings, power plants to chemical factories, multiplexes to shopping malls.

The company remains versatile in a range of activities ranging from ground engineering to electro-mechanical design, fabrication and installation. At Simplex Projects, they possess some of the best engineering skills and that led them to have in their fold many 'First time in India' credits in the field of civil and mechanical construction. The company also has the second largest fleet of piling rigs in eastern part of the country, besides several other top class construction equipments and machineries.

Today, Simplex Projects offers a perfect blend of engineering skill and latest technologies for the infrastructure growth. It got listed in the Bombay and National Stock Exchange in 2007 at Rs 180 and the stock prices reached its peak at Rs 480.

Activities  and services offered by the company:

  • Piling and Foundation Work
  • Soil Investigation and recommendation
  • Soil Densification work - sand piles, stone columns, dynamic compaction.
  • Sheet Piling
  • Heavy RCC and pre-stressed concrete foundation works
  • Basement Structures
  • Pile foundation - cast-in-situ driven
  • Bored, precast and steel
  • Car Parking Systems.
  • Bridges and Flyovers/reinforced and pre-stressed Industrial Structures
  • Long Span Structure-steel & prestressed concrete
  • Multistoried Buildings
  • Townships, Group Housing Design & Construction
  • Commercial buildings Complexes
  • Water, Waste and Sewage Treatment Plants

Milestones:

  • 1992- Started first commercial operations.
  • 1994- Merger of soil & foundation engineers strengthening the base.
  • 1997-Completed housing project for CGEWHO using ‘Tunnel Shutter’ technology for the first time in India-a project value of INR 210mn.
  • 2001- Foray into parking. First project completed on BOT with the Kolkata municipal corporation.
  • 2003- Award of project from Konkan Railways. A Rs.650 mn project with 13 RoBs across Jharkhand.
  • 2004-Turnover crossing Rs500 million.
  • 2006- Completion of Taratalla Flyover and Trial run for the Underground automated parking another first in the country.
  • 2007-Listing in the BSE/NSE(stock exchange).-Opening of new market.

The ongoing projects of the company include:

Construction of 560 M length ROB at Mithapur, Patna for Eastern Railway for Rs150 million. (Multiple Span 39.1 Mtrs.)

12 nos. ROBs varying from 500 to 750 mtrs. long (total 12,000 M length) at various locations in and around Ranchi and Dhanbad in the state of Jharkhand for Konkan Railway Corpn. Ltd. Approximate value of the job is Rs.650 million.

Bhutan - Construction of Thimphuchu Bridge on Thimbu Babesa Expressway for Royal Govt. of Bhutan, Dept. of Bridges Job value Rs.52.9 million approx - 50% work completed.

Construction of ROB work at Patna for apprx. Rs.86 million, main client being IRCON and contractor being Nagarjuna Construction Co. Ltd. on back to back basis. (Total length 2500 mtrs. (70 multiple span).

For NBCC a central government body for the construction of a hospital in the city of Thoubal, Manipur. The job value is Rs 220 million only.For NBCC a central government body for the Construction of the New Market Complex in the Imphal city, Manipur. The job value is Rs 90 million only.

The company is installing about 4000 nos (800000 RM approx) of 500, 550 & 600 mm dia pile works Cast in Situ Driven Pile for their housing project in Kolkata. Godrej Properties, Mumbai

Differen divisions of the company :

Turnkey Construction

  • Large span and/or high-rise commercial
  • industrial and specialty building Projects
  • Structural engineering, design & construction management
  • On lumpsum and cost plus basis Design & Build
  • Automated design and estimation processes
  • Large team of trained workforce for executing complex structures
  • Mobile, site-based ready mix concrete
  • manufacturing facilities

Structural Engineering

  • Analysis and design of elements and systems
  • Automated analysis, design and drafting
  • Customized design solutions
  • Understanding and advising clients
  • Structural management

Design and Construction Management

  • Design management and co-ordination
  • System selection for fast-track construction
  • Planning of activities, costs and time schedules
  • Quality and Safety Management
  • Management Information System.

Achievements/ recognition :

  • Construction of Fully Automated Multi level Car Parking System on Double Curvature for the First Time in the World (1st Phase).
  • Construction of the first housing complex using Aarding 'Tunnel Shuttering' technology in the country.
  • Construction of Basement using Top Down Construction Technique for the First Time in India (project under construction).
  • Construction of 2000 mm dia pile foundation for the first time in India.
  • Construction of the largest Two-Tier Overhead Tank of 6000 M³ Capacity in India.
  • Construction of Rail Over Bridge (ROB) with 50 mts. span P. S. C Girder over live and running electrified section of rail-track for the first time in India.
  • Construction of Fully Automated Underground Multilevel Car Parking Systems for the First Time in India (2nd Phase).
  • In the year 2003 they got award of project from Konkan Railways.A Rs.650 mn project with 13 RoBs across Jharkhand
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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