SPML Infra Ltd - Stock Valuation and Financial Performance

BSE: 500402 | NSE: SPMLINFRA | Engineering - Construction | Small Cap

SPML Infra Share Price

129.80 -5.50 -4.07%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on SPML Infra

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

SPML Infra stock performance -

mw4me loader
P/E Ratio (SA):
48.39
Market Cap:
662.7 Cr.
52-wk low:
16.8
52-wk high:
140.5

Is SPML Infra Ltd an attractive stock to invest in?

1. Is SPML Infra Ltd a good quality company?

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

2. Is SPML Infra Ltd undervalued or overvalued?

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

3. Is SPML Infra Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of SPML Infra Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of SPML Infra:

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.
SPML Infra 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 % 11.2%13.1%12.7%11.1%11.3%8.9%6.8%3%1.9%1.7%-
Value Creation
Index
-0.2-0.1-0.1-0.2-0.2-0.4-0.5-0.8-0.9-0.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1851,3771,4071,7011,3561,4338246158538781,318
Sales YoY Gr.-16.3%2.2%20.9%-20.3%5.7%-42.5%-25.3%38.6%2.9%-
Adj EPS 1.44.33.6-19.912.14.93.26-0.22.8
YoY Gr.-219.1%-16.4%-127.8%NA21.2%-59.8%-35.1%91.8%-102.7%-
BVPS (₹) 123.4126.6130.2106.7118.6103.3105.274.575.372.871.8
Adj Net
Profit
515.913.3-3.736.444.217.811.623.8-0.714
Cash Flow from Ops. -79.5148255-18313694.1-133-27229.373.5-
Debt/CF from Ops. -6.94.22.8-5.29.413.9-11.1-6.759.423.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -3.3%-8.3%2.1%2.9%
Adj EPS -178.8%-143.8%-132.1%-102.7%
BVPS-5.7%-9.3%-11.5%-3.2%
Share Price 12.9% 34% 136.6% 626.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1.13.52.8-0.98.810.84.63.57.9-0.23.9
Op. Profit
Mgn %
6.71011.710.114.911.48.66.74.34.43.3
Net Profit
Mgn %
0.41.21-0.22.73.12.21.92.8-0.11
Debt to
Equity
1.21.31.52.42.93.53.86.65.34.9-
Working Cap
Days
4334384643885475761,0141,323931939213
Cash Conv.
Cycle
664-34-76-118-87-1292163853577

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 3.90%

Debt to equity has declined versus last 3 years average to 4.88

Sales growth is good in last 4 quarters at 107.49%

Sales growth has been subdued in last 3 years 2.12%

Net Profit has been subdued in last 3 years -132.07%

Latest Financials - SPML Infra Ltd.

Standalone Consolidated
TTM EPS (₹) 2.8 3.2
TTM Sales (₹ Cr.) 1,318 1,321
BVPS (₹.) 71.8 69.3
Reserves (₹ Cr.) 342 330
P/BV 1.89 1.95
PE 48.39 42.51
From the Market
52 Week Low / High (₹) 16.75 / 140.50
All Time Low / High (₹) 3.05 / 599.00
Market Cap (₹ Cr.) 663
Equity (₹ Cr.) 9.8
Face Value (₹) 2
Industry PE 42.7

Management X-Ray of SPML Infra:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *92.0892.0873.4638.7736.5736.5936.5910.2110.2110.21
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of SPML Infra

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
Sales1,1851,3771,4071,7011,3561,433824615853878
Operating Expenses 1,1061,2431,2441,5291,1541,270775591836842
Manufacturing Costs324261289353398331252318545710
Material Costs6388758501,01163883239117021159
Employee Cost 42505351484942262826
Other Costs 1015752114695890775347
Operating Profit 7913416417220216449241736
Operating Profit Margin (%) 6.7%9.7%11.6%10.1%14.9%11.4%5.9%3.9%2.0%4.1%
Other Income 846952425660105431719
Interest 147172187205196153147682150
Depreciation 10131210846543
Exceptional Items 0000000000
Profit Before Tax 51717-155672-693
Tax 044-31218-1-6-11
Profit After Tax 514131435020102
PAT Margin (%) 0.4%1.0%0.9%0.1%3.2%3.5%0.3%-0.1%1.2%0.2%
Adjusted EPS (₹)1.33.83.60.411.813.50.7-0.12.50.5
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 453465478392436379386274332349
Share Capital 888888884328
Reserves 445457470384427371378266289322
Minority Interest0000000000
Debt4785906839201,2661,2911,4661,7811,7141,676
Long Term Debt4468121182714663651631610593
Short Term Debt4345215627395526288151,1501,1041,083
Trade Payables417619701609568658484264303324
Others Liabilities 58448035529736528325177105164
Total Liabilities 1,9332,1542,2172,2182,6362,6112,5882,3962,4542,514

Fixed Assets

Gross Block168168170234235237241240239234
Accumulated Depreciation86100112122130133138143145144
Net Fixed Assets826859112106104103979490
CWIP 3000000000
Investments 22223525119917716212810310399
Inventories38364040395563719092
Trade Receivables3535766181523483173391,1351,1141,111
Cash Equivalents 798991109859233584121
Others Assets1,1551,1501,1581,6061,8811,8821,9239321,0111,101
Total Assets 1,9332,1542,2172,2182,6362,6112,5882,3962,4542,514

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -80148255-18313694-133-2722973
PBT 51717-155672-11393
Adjustment 1781561711191467760433058
Changes in Working Capital -280075-293-8511-190-208-1129
Tax Paid 17-26-8-721-62-561-16
Cash Flow From Investing Activity -76-3211148-5781513-24
Capex -3-1-111-1-2-12-14
Net Investments 2108-132-663116-35
Others -75-11-51021731612-17
Cash Flow From Financing Activity 148-135-27082-199-9867276-41-71
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -13-164560-33-48-12-1128-2
Interest Paid -135-150-189-155-191-126-108-49-22-48
Dividend Paid 0000000000
Others 29531-1271772676187336-47-21
Net Cash Flow -89-1311-14-912191-21
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)1.073.012.780.3310.4412.20.63-0.123.50.67
ROCE (%)15.7618.1317.9316.1616.3912.98.323.141.442.54
Asset Turnover Ratio0.670.670.640.770.560.550.320.250.350.35
PAT to CFO Conversion(x)-1610.5719.62-1833.161.88-66.5INF2.936.5
Working Capital Days
Receivable Days125123155836785145437481462
Inventory Days1210109111226403538
Payable Days1151772842363362695338044901,953

SPML Infra Ltd Stock News

SPML Infra Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of SPML Infra on 28-Mar-2024 16:01 is ₹129.8.
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 28-Mar-2024 16:01 the market cap of SPML Infra stood at ₹662.7.
The latest P/E ratio of SPML Infra as of 28-Mar-2024 16:01 is 48.39.
The latest P/B ratio of SPML Infra as of 28-Mar-2024 16:01 is 1.89.
The 52-week high of SPML Infra is ₹140.5 and the 52-week low is ₹16.75.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SPML Infra is ₹1,318 ( Cr.) .

About SPML Infra Ltd

Subhash Projects and Marketing (SPML) is a leading infrastructure development company with over 25 years experience in the public as well as private sector. SPML was incorporated in 1981 and listed as a public limited company in August 1983. It has offices in Kolkata, Delhi, Mumbai, Bangalore, Chennai, Jaipur, Patna and Guwahati. In 2010 the company changed its name from Subhash Projects & Marketing Ltd. to SPML Infra Ltd.

SPML is a single source solution provider for various multi disciplinary engineering and infrastructure services from conceptualization to maintenance in Water, Power, Environment and Infrastructure projects.

Having established it’s leadership in the contracting business, SPML has proven business capabilities in the Water, Energy, Environment and Infrastructure domain, on a Public Private Partnership (PPP) & Build-Own-Operate-Transfer (BOOT) basis. SPML Group is developing infrastructure projects with projected investments worth Rs.150 billion; $3.7 billion.

Product and Services offered by the company:

EPC 

  • Water SBU
  • Power SBU
  • Infrastructure SBU
  • Environment SBU

PPP / BOOT 

  • Water
  • Energy
  • Infrastructure
  • Environment

Other Businesses  Technology & Manufacturing

Clientele:

Ahmedabad Urban Development Authority, Government of Puducherry, Madhya Pradesh Road Development Corporation (MPRDC), Andhra Pradesh Transmission Corporation, Gujarat Water Supply & Sewerage Board, IRCON International Limited and many more.

Subsidiaries of the company:

  • SPML Wter Infra limited
  • SPML Energy limited
  • SPML Urban Enviro limited
  • SPML Infrastructure limited
  • SPML Technologies limited
  • SPML Industries limited

Achievements/ recognition:

  • 2013 - EPC World Awards 2013 for Urban Infrastructure Development - EPC World Media Group
    Construction Week India Awards 2013 for Water Project of the Year - ITP Publishing Group
    Construction Week India Awards 2013 for Corporate Social Responsibility - ITP Publishing Group
    GMR-IGI Airport Awards 2013 -GMR-KPMG Awards
  • 2012 - Aqua Excellence Awards 2012 for Outstanding Contribution Towards Cause of Water – Aqua Foundation
    Construction Week India Award 2012 for Water Project of the Year – ITP Publishing Group
    Infrastructure Excellence Award 2012 for Water & Sanitation - Network 18
    Corporate Excellence Award for Outstanding Marketing - Amity University 2012
  • 2011 - Most Admired Infrastructure Company in Water and Urban Infrastructure - KPMG Infrastructure Today Awards 2011
  • Excellence in Project Management in Hydro Power Sector (SHP) from ENERTIA Publication as part of their Annual ENERTIA Awards 2008. The award is in the category for sustainable Energy & Power, for the development and efficient operation of the 20 MW (10 MW x 2) Kabini Hydro Power Project, the 2nd largest private sector mini hydel scheme in the Karnataka.
  • Economic Times 500 (Year 2008) – one of most respected business publication’s ET Survey of 500 biggest organizations in India ranks SPML at 338, a clear jump of 46 positions from the previous year standing of 384
  • Ranked at 312 amongst India’s 1000 corporate giants based on Net Sales- by eminent financial magazine “Business Standard” Year 2008
  • SPML - awarded as the Number One fastest growing construction companies in India in ‘large category’ , the award was presented by Dr. T. Subbarami Reddy,  Union Minister for States (Mines) - 30.10.2007, Ceremony of “Fifth Construction World – NICMAR Award 2007
  • One of the top 500 companies in India - “Dun & Bradstreet” & “The Financial Express” – Year 2007
  • Promoters - Ranked at 217 amongst top Billionaires of the country by eminent financial magazine “Business Standard” - Year 2007
  • The Government of Karnataka, Department of Energy and Karnataka Renewable Energy Development Limited certified  Subhash Kabini Power Corporation Ltd (a subsidiary of SPML) and awarded second for highest capacity installation in small hydro power projects for/during the period 1996-2004
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