PBA Infrastructure Ltd - Stock Valuation and Financial Performance

BSE: 532676 | NSE: PBAINFRA | Engineering - Construction | Small Cap

PBA Infrastructure Share Price

18.40 -0.13 -0.70%
as on 04-Oct'24 16:01

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PBA Infrastructure stock performance -

mw4me loader
P/E Ratio (SA):
17.06
Market Cap:
24.8 Cr.
52-wk low:
7.7
52-wk high:
26.5

Is PBA Infrastructure Ltd an attractive stock to invest in?

1. Is PBA Infrastructure Ltd a good quality company?

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

2. Is PBA Infrastructure Ltd undervalued or overvalued?

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

3. Is PBA Infrastructure Ltd a good buy now?

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

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.
PBA Infrastructure 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 % 9.4%6.1%4.8%1.4%1.3%2.1%0.4%0.4%0.7%-36.7%-
Value Creation
Index
-0.3-0.6-0.7-0.9-0.9-0.9-1.0-1.0-1.0NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 29317110988.911385.144.418.81.211.265
Sales YoY Gr.--41.7%-36.2%-18.3%27.1%-24.7%-47.8%-57.6%-93.7%845.8%-
Adj EPS -2-14-18.4-20.5-30.24.62.51.3-0-99.31.1
YoY Gr.-NANANANANA-44.5%-50%-101.6%NA-
BVPS (₹) 86.772.754.232.32.57.710.211.311.1-88.5-88.1
Adj Net
Profit
-2.7-18.9-24.8-27.7-40.86.23.41.70-1341
Cash Flow from Ops. 14.5-21.3-55.216.4-4.33.50.97.623.8-2.3-
Debt/CF from Ops. 16-13.5-6.823.6-104.4123.3495.556.916.9-174.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -30.4%-37.1%-36.9%845.8%
Adj EPS NANA-439.3%NA
BVPS-200.2%-303.6%-305.7%-894.2%
Share Price -0.1% 36.1% 20.8% 114.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-2.3-17.5-29-47.4-173.389.428.411.8-0.1256.7-1.2
Op. Profit
Mgn %
1313.817.21142.60.920-2078.5-805.5-1.8
Net Profit
Mgn %
-0.9-11.1-22.8-31.2-36.17.37.79.1-1.8-12012.3
Debt to
Equity
22.95.18.8131.341.93228.326.8-3.4-
Working Cap
Days
4879031,5331,8731,4301,8333,3797,9151,20,93710,263265
Cash Conv.
Cycle
1873277089416177401,3003,03753,0024,290-667

Recent Performance Summary

Sales growth is good in last 4 quarters at 1411.88%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -36.89%

Net Profit has been subdued in last 3 years -439.34%

Latest Financials - PBA Infrastructure Ltd.

Standalone Consolidated
TTM EPS (₹) 1.1 -
TTM Sales (₹ Cr.) 64.8 -
BVPS (₹.) -88.1 -
Reserves (₹ Cr.) -132 -
P/BV -0.21 -
PE 17.06 -
From the Market
52 Week Low / High (₹) 7.65 / 26.48
All Time Low / High (₹) 3.90 / 198.65
Market Cap (₹ Cr.) 24.8
Equity (₹ Cr.) 13.5
Face Value (₹) 10
Industry PE 37.2

Management X-Ray of PBA Infrastructure:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *64.4964.4964.4964.4964.4964.4964.4964.4964.4964.49
* Pledged shares as % of Promoter's holding (%)

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Analyst's Notes

Key Ratios of PBA Infrastructure

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
Sales292.55170.57108.7788.89112.9685.0844.4018.821.1811.16
Operating Expenses 254.59147.0290.2581.55108.4982.8844.0215.0526.19101.73
Manufacturing Costs113.7087.7860.4438.5769.4748.3625.117.7600
Material Costs118.5941.7711.9126.9330.2423.5811.701.114.7997.40
Employee Cost 12.107.845.716.835.756.334.973.443.112.72
Other Costs 10.219.6312.189.223.024.622.252.7518.291.61
Operating Profit 37.9623.5418.537.344.472.190.383.77-25.01-90.57
Operating Profit Margin (%) 13.0%13.8%17.0%8.3%4.0%2.6%0.9%20.0%-2,118.3%-811.0%
Other Income 2.433.826.503.296.1712.254.431.257.742.07
Interest 35.1841.4545.043647.492.841.030.510.730.03
Depreciation 8.604.835.184.414.834.824.824.824.344.34
Exceptional Items 0000001.961.5324.54-35.40
Profit Before Tax -3.39-18.92-25.19-29.77-41.686.780.921.222.20-128.29
Tax -0.65-0.04-0.25-0.36-0.870.59-2.51-0.492.376.19
Profit After Tax -2.74-18.87-24.94-29.41-40.806.183.431.71-0.17-134.48
PAT Margin (%) -0.9%-11.1%-22.9%-33.1%-36.1%7.3%7.7%9.1%-14.4%-1,205.3%
Adjusted EPS (₹)-2.0-14.0-18.5-21.8-30.24.62.51.3-0.1-99.6
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 117.0398.1673.2243.643.4110.4313.7115.2115.04-119.44
Share Capital 13.5013.5013.5013.5013.5013.5013.5013.5013.5013.50
Reserves 103.5384.6659.7230.14-10.09-3.070.211.711.54-132.94
Minority Interest0000000000
Debt231.90283.90375.88385.71447.62436.65438.17430.55402.30401.94
Long Term Debt90.89111.59126.7847.7039.6352.3551.5149.7248.8848.52
Short Term Debt141172.31249.09338.01407.98384.30386.66380.83353.42353.42
Trade Payables73.8965.4159.3531.4140.6921.3419.5710.5012.7513.03
Others Liabilities 96.9199.6260.4159.5641.6224.0122.4422.0519.7819
Total Liabilities 519.73547.09568.85520.32533.34492.42493.90478.30449.87314.52

Fixed Assets

Gross Block160.69158.51156.68147.23147.27147.40147.40147.40143.23139.10
Accumulated Depreciation78.0282.8588.0388.5793.5098.32103.14107.95108.61109.86
Net Fixed Assets82.6775.6668.6558.6653.7749.0844.2639.4434.6129.24
CWIP 0000000000
Investments 15.9515.9815.9815.9828.6828.6828.6828.6828.6828.68
Inventories9496.46118.73121.73129.12147.94160.31168.23173.7385.09
Trade Receivables130.46149.35217.25105.6999.2532.0314.751.521.584.63
Cash Equivalents 18.2414.4611.436.385.075.827.687.407.088.72
Others Assets178.42195.17136.82211.90217.46228.89238.22233.04204.18158.16
Total Assets 519.73547.09568.85520.32533.34492.42493.90478.30449.87314.52

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 14.47-21.31-55.1916.35-4.293.540.887.5623.80-2.30
PBT -3.39-18.92-25.19-29.94-40.827.610.781.01-24.71-92.88
Adjustment 40.8041.4546.8341.2251.11-3.495.375.031.913.67
Changes in Working Capital -22.93-43.85-76.835.07-12.832.42-4.991.823.2844.55
Tax Paid 0000-1.75-3.01-0.27-0.2806.96
Cash Flow From Investing Activity -11.665.637.0510.41-10.5712.16-1.780.527.691.94
Capex -0.402.181.643.130.020001.490.33
Net Investments 0000-12.70-0.120000
Others -11.273.455.417.282.1112.28-1.780.526.201.61
Cash Flow From Financing Activity -13.1714.1848.89-25.9814.56-13.510.81-8.03-28.980.39
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -6.6920.7015.19-79.09-8.0612.72-0.84-1.79-0.840.36
Interest Paid -33.40-37.82-43.09-35.81-47.35-2.54-0.72-0.41-0.730.03
Dividend Paid 0000000000
Others 26.9231.3176.7988.9269.97-23.692.36-5.84-27.410
Net Cash Flow -10.36-1.500.750.78-0.302.19-0.090.052.510.03
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-2.32-17.54-29.11-50.34-173.4589.3628.411.83-1.12N/A
ROCE (%)9.356.134.751.421.322.140.430.390.68N/A
Asset Turnover Ratio0.570.320.190.160.210.170.090.0400.03
PAT to CFO Conversion(x)N/AN/AN/AN/AN/A0.570.264.42N/AN/A
Working Capital Days
Receivable Days169299615663331282192158479102
Inventory Days1172043614944055941,2673,18604,234
Payable Days2136091,9116154354806384,93188648

PBA Infrastructure Ltd Stock News

PBA Infrastructure Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of PBA Infrastructure on 04-Oct-2024 16:01 is ₹18.40.
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 04-Oct-2024 16:01 the market cap of PBA Infrastructure stood at ₹24.84.
The latest P/E ratio of PBA Infrastructure as of 04-Oct-2024 16:01 is 17.06.
The latest P/B ratio of PBA Infrastructure as of 04-Oct-2024 16:01 is -0.21.
The 52-week high of PBA Infrastructure is ₹26.48 and the 52-week low is ₹7.65.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PBA Infrastructure is ₹64.75 ( Cr.) .

About PBA Infrastructure Ltd

PBA Infrastructure was incorporated on July 31, 1974 as Prakash Building Associates Limited under Companies Act, 1956. The name of the company was changed to PBA Infrastructure Ltd. with effect from March 28, 2001.

The Company is engaged in execution of civil engineering projects and specializes in construction of Highways, Dams, Runways and heavy RCC structures, Bridges and other infrastructure projects.

PBA Infrastructure was promoted by Mr. Roshanlal Wadhawan, Mr. Shadilal Chopra and Mrs. Vimal Wadhawan the year 1974.  Mr. Ramalal Wadhawan, son of Mr Roshanlal Wadhawan joined the company in the year 1991 as a Managing Director.  Presently he is the Chairman and the Managing Director of PBA.  His leadership led to improved systems of projects and financial management, investments in the most modern fleet of machineries/equipments for mega projects and a relentless pursuit of excellence in the quality of project construction and engineering. He took initiatives to drive the company towards professionalism. He is exercising overall control and supervision over various activities of the company, under the overall policy guidelines of Board of Directors.

Ongoing projects of the company:

  • Construction of Segment of Lucknow bypass coneecting NH-25 and Nh-28 via NH-56 passing through Lucknow city in the state of Uttar Pradesh (50% in JV with Atlanta Ltd.) Location - Lucknow U.P.
  • Construction of Four laning of national highway Bye-pass (Srinagar Package NS/30/J&K) Location Srinagar - J&K.
  • Widening and Construction of AGLR from  Sakinaka to EEH Excluding Asalpha Missing Link
  • Improvement to the Existing road construction of Missing link, Const. of Underpass at Saiwadi Junction for the corridor from Junction of WEH and NS Phadke Marg to Gokhale Bridge (E), and from Tipusultan Chowk to Sant Namdeo Chowk.
  • Construction of Roads in Multi Model International Hub Airport at Nagpur (MIHAN) Project Complex. (50% JV with Sadbhav Engg. Ltd.) and many more.

Milestones:

  • 1976-Awarded Reclamation work of Bandra Kurla Complex for MMRDA by Municipal Corporation of Greater Mumbai and also Reclamation work for CIDCO Ltd.
  • 1977- Construction of Kalwa – Kasheli Bridge for Maharashtra PWD.
  • 1978- Construction of Bhira Tunnel for irrigation Department of Government of Maharashtra.
  • 1979- Awarded the work of construction of 13C & 14C tunnel for Central Railways
  • 1982- Awarded prestigious Civil Works Contact of Panjrapur Filtration Plant by Municipal Corporation of Greater Mumbai.
  • 1983- Awarded the work of Construction of Store-yard at Panjrapur.
  • 1985- Successfully completed the Panjrapur Filtration Plant.
  • 1986- Awarded the work of Construction of School Building at Panvel worth Rs. 25.00 lacs.
  • 1987- Awarded the work of Construction of Core Units and other Services at Koparkhairane worth Rs. 516.00 lacks for CIDCO Ltd.   Also awarded the work of Construction of underground cable duct for MTNL worth Rs. 185 lacs.
  • 1988- Awarded the work of Strengthening of Main Runway 09/27 at Mumbai Airport by IAA, worth Rs. 260 lacs.
  • 1989- Awarded the work of “construction of Panjrapur Pumping Station by the Municipal Corporation of Greater Mumbai worth Rs. 765 lacs.
  • 1991- Awarded the work of “Concreting of City Roads” for Municipal Corporation of Greater Mumbai worth Rs. 223 lacks.  Also awarded the work of improvement to Nagpur-Umred-Kanpa Road Km3/400 to 73/400 for World Bank Project Division worth Rs. 2914 lacs.
  • 1993- Awarded the work of Resurfacing of Lucknow Airport and Strengthening of Ranchi Airport by National Airports Authority worth Rs. 289 lacs and Rs. 594 lacs respectively.
  • 1994- Successfully completed the work of Widening and Strengthening of Panvel-Mahad-Panjim Road worth Rs. 370 lacs. The work of Construction of Bypass outside Jalna City was awarded by Govt. of Maharashtra, Special Projects, PWD at a contract price of Rs. 1137 lacs.
  • 1995- Awarded the work of Construction of Addl.  Two lanes of Ring Road at Nagpur City worth Rs. 1190 lacs.
  • 1996- Awarded the work of Construction of Asphalt Pavement outside the Container gate complex by JNPT worth Rs.79 lacs.  The work of improvement to Roha-Kolad Road SH-60 also awarded by PWD worth Rs.128 lacs.
  • 1997-Awarded the work of improvements to Jalna Watur Partur Road Km.115 to Km.120 by the PWD worth Rs. 143 lacs.  Also awarded the work of improvement to Khultabad-Phulambri Road by PWD worth Rs.678 lacs. 
  • 1998- Improvement to Solapur-Dhule Road MSH-1 KM.140/00 TO 221/800 to National Highway standard was awarded by the Executive Engineer, Special Project Division, Beed at a Tendered Cost of Rs. 1160 lacs.
  • 1999- Awarded the work of Widening to Four Lanes of existing two lane of NH8A from Bhachau to Padana in Gujarat by NHAI in joint Venture with PC & EC. Also awarded the work of Construction of Mumbai-Pune Road worth Rs. 10515 lacs in joint venture with PC & EC by MSRDC.
  • 2001- Awarded the work of Lucknow Bypass by NHAI worth Rs. 15900 lacs in joint venture with Atlanta Infrastructure Ltd.  Also awarded the work of Udaipur-Mangalwar Section by NHAI worth Rs. 14900 lacs in joint venture with Sadbhav Engineering Co.
  • 2003- Awarded the work of Four Laning & Strengthening of existing two lane Km. 203.000 to Km. 233.600 of Madurai-Kanyakumari Section by NHAI worth Rs. 11025 lacs. This was the single major work awarded to the company in its individual capacity. The work of construction of four laning National Highway By-Pass Sringar (Package NS-30/J&K) by the Chief Engineer, PW (R&B) Deptt.  Srinagar worth Rs. 6066 lacs.  Work of Strengthening and paving of shoulders of SH 07- Viramgam – Dhrangadhra and Dhrangadhra – Halvad worth Rs. 10485 lacs was awarded by Govt. of Gujarat, State Road Project Circle, Gandhi Nagar in Joint Venture with Sadbhav Engineering Ltd.
  • 2004- Awarded the work of KSHIP Upgradation of Road from Bijapur to Krishna Bridge – World Bank aided Road Project by Project Director, KSHIP, Bangalore worth Rs. 5835 lacs.  Apart from the above, have been awarded 3 major road works by MMRDA for a total sum of Rs. 6700 lacs.
  • 2005- Successfully completed the prestigious Road Project namely Rehabilitation and up-grading of 4/6 lane divided carriage way Udaipur-Mangalwar Section by NHAI in joint venture with Sadbhav Engineering Co. at a completion cost of Rs.18500 lacs including escalation cost.
  • 2006- Successfully completed the work of NH-07 - Viramgam - Dhrangadhra (km 58/825 to km 104/263) and Dhrangadhra - Halvad (km 126/000 to km 151/500)
  • 2007- The work of KSHIP Upgradation of Road from Bijapur to Krishna Bride on Bijapur Lokapur Road (SH-65) Ch 0.00 to 48.10 in Karnataka was successfully completed. Project was aided by World Bank.

Achievements/ recognition:-

  • ISO 9001:2000
  • The Company is registered with Public Works Department (PWD), Government of Maharashtra in class 1A Category.
  • The Company is registered with Municipal Corporation of Greater Mumbai (MCGM) as AA Class in Civil Division.

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