BSE: 519331 | NSE: | Engineering - Construction | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that VSF Projects Ltd is a below average quality company.
The key valuation ratios of VSF Projects 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 Weak which suggest that the price of VSF Projects Ltd is likely to Fall 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.1% | 0.6% | 1.4% | -0.3% | -1.7% | -25.9% | 0.7% | 1% | -0.5% | 0.1% | - |
| Value Creation Index ⓘ | -0.8 | -1.0 | -0.9 | -1.0 | -1.1 | NA | -1.0 | -0.9 | NA | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 22.3 | 4.5 | 9.1 | 1.3 | 0 | 2.7 | 1.2 | 1.7 | 1.7 | 1.6 | 0 |
| Sales YoY Gr. | - | -80% | 104.5% | -86.2% | -100% | NA | -54.7% | 40.3% | -5.2% | -1.2% | - |
| Adj EPS ⓘ | 1.7 | -0.2 | 0.5 | -0.7 | -1.5 | -12.4 | 0.1 | 0.3 | -0.1 | 0 | -1 |
| YoY Gr. | - | -110.1% | NA | -257.5% | NA | NA | NA | 420% | -153.9% | NA | - |
| BVPS (₹) ⓘ | 17.9 | 17.7 | 18.1 | 8.3 | 6.7 | -97.2 | -32.5 | -32.3 | -32.4 | -24 | -24.8 |
| Adj Net Profit ⓘ | 1 | -0.1 | 0.3 | -0.4 | -0.9 | -7.3 | 0 | 0.2 | -0.1 | 0 | -1 |
| Cash Flow from Ops. ⓘ | 53.8 | 0.2 | -0.5 | -0.2 | -0.5 | 1.3 | -0.2 | 0 | 0 | -0.9 | - |
| Debt/CF from Ops. ⓘ | 0.3 | 80.7 | -29.6 | -9.4 | -36.2 | 11.9 | -64.6 | -727.7 | -711.2 | -17 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -25.2% | NA | 9.5% | -1.2% | ||||
| Adj EPS ⓘ | -38.9% | NA | -26.3% | NA | ||||
| BVPSⓘ | -203.3% | -229% | NA | NA | ||||
| Share Price | 25.6% | 56.1% | 105.6% | 28.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 3.4 | -0.3 | 0.9 | -1.6 | -3.8 | -62.2 | 18.3 | 55.6 | -25.8 | 0.8 | 4 |
| Op. Profit Mgn % ⓘ | 9.6 | 22.8 | 14.2 | 17.4 | 0 | -250.9 | 26.2 | 17.1 | 6.5 | 7.7 | -62.5 |
| Net Profit Mgn % ⓘ | 4.4 | -2.3 | 3 | -34.5 | 0 | -265.4 | 2.6 | 8.8 | -4.9 | 0.9 | -307.1 |
| Debt to Equity ⓘ | 1.5 | 1.5 | 1.5 | 0.5 | 4.2 | -0.3 | -0.8 | -0.8 | -0.8 | -0.9 | - |
| Working Cap Days ⓘ | 268 | 449 | 415 | 3,401 | 0 | 737 | 555 | 393 | 419 | 452 | 225 |
| Cash Conv. Cycle ⓘ | 130 | 137 | 236 | 1,708 | 0 | -3,007 | -8,009 | -5,124 | -4,989 | -5,553 | -2,220 |
No data to display
Return on Equity has declined versus last 3 years average to 4.00%
Sales growth has been subdued in last 3 years 9.54%
Sales growth is not so good in last 4 quarters at -12.50%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1 | -0.2 |
| TTM Sales (₹ Cr.) | 0.2 | 1.3 |
| BVPS (₹.) ⓘ | -24.8 | 0 |
| Reserves (₹ Cr.) ⓘ | -23 | 5 |
| P/BV ⓘ | -2.98 | 0.00 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 40.00 / 80.00 |
| All Time Low / High (₹) | 5.60 / 117.80 |
| Market Cap (₹ Cr.) | 48.6 |
| Equity (₹ Cr.) | 6.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 41.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 22.30 | 4.47 | 9.14 | 1.26 | 0 | 2.74 | 1.24 | 1.74 | 1.65 | 1.63 |
| Operating Expenses ⓘ | 20.15 | 3.45 | 7.84 | 1.09 | 0.29 | 9.61 | 0.92 | 1.44 | 1.54 | 1.51 |
| Manufacturing Costs | 18.99 | 1.18 | 5.74 | 0 | 0.02 | 0.22 | 0.08 | 0.11 | 0.07 | 0.01 |
| Material Costs | 0.34 | 1.38 | 1.32 | 0.08 | 0 | 1.31 | 0.30 | 0.71 | 0.85 | 0.56 |
| Employee Cost | 0.25 | 0.36 | 0.26 | 0.41 | 0.04 | 0.26 | 0.26 | 0.35 | 0.32 | 0.44 |
| Other Costs ⓘ | 0.58 | 0.53 | 0.52 | 0.60 | 0.23 | 7.82 | 0.28 | 0.28 | 0.30 | 0.49 |
| Operating Profit ⓘ | 2.15 | 1.02 | 1.30 | 0.17 | -0.29 | -6.87 | 0.32 | 0.30 | 0.11 | 0.13 |
| Operating Profit Margin (%) | 9.6% | 22.8% | 14.2% | 13.2% | - | -250.0% | 26.2% | 17.1% | 6.5% | 7.7% |
| Other Income ⓘ | 0 | 0 | 0.17 | 0 | 0.03 | 0 | 0.02 | 0 | 0 | 0 |
| Interest ⓘ | 0.56 | 0.52 | 0.53 | 0.47 | 0.51 | 0.22 | 0.12 | 0 | 0 | 0 |
| Depreciation ⓘ | 0.30 | 0.43 | 0.34 | 0.24 | 0.23 | 0.21 | 0.20 | 0.19 | 0.12 | 0.06 |
| Exceptional Items ⓘ | -0.12 | 0 | -0.05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1.17 | 0.07 | 0.56 | -0.54 | -1 | -7.30 | 0.03 | 0.10 | -0.01 | 0.06 |
| Tax ⓘ | 0.27 | 0.17 | 0.32 | -0.07 | -0.07 | -0.02 | -0.02 | -0.05 | 0.07 | 0.05 |
| Profit After Tax | 0.90 | -0.10 | 0.24 | -0.47 | -0.93 | -7.27 | 0.05 | 0.15 | -0.08 | 0.01 |
| PAT Margin (%) | 4.1% | -2.3% | 2.6% | -37.4% | - | -265.0% | 3.8% | 8.8% | -4.9% | 0.9% |
| Adjusted EPS (₹) | 1.5 | -0.2 | 0.4 | -0.8 | -1.6 | -12.4 | 0.1 | 0.3 | -0.1 | 0.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 29.79 | 29.68 | 29.92 | 24.16 | 23.23 | 0.15 | 0.20 | 0.35 | 0.27 | 3.47 |
| Share Capital ⓘ | 5.87 | 5.87 | 5.87 | 5.87 | 5.87 | 5.87 | 5.87 | 5.87 | 5.87 | 6.58 |
| Reserves ⓘ | 23.92 | 23.81 | 24.06 | 18.29 | 17.36 | -5.72 | -5.67 | -5.52 | -5.60 | -3.11 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 15.15 | 15.15 | 15.54 | 2.22 | 16.38 | 15.28 | 15.65 | 15.65 | 15.65 | 14.93 |
| Long Term Debt | 13.38 | 13.38 | 13.72 | 0.47 | 14.38 | 14.31 | 14.57 | 15.65 | 15.65 | 14.93 |
| Short Term Debt | 1.77 | 1.78 | 1.81 | 1.75 | 2 | 0.97 | 1.07 | 0 | 0 | 0 |
| Trade Payables | 0.34 | 1.73 | 2.24 | 2.30 | 21.46 | 21.46 | 21.11 | 20.42 | 19.99 | 20.08 |
| Others Liabilities ⓘ | 41.04 | 41.51 | 47.45 | 61.07 | 28.26 | 29.02 | 28.87 | 29.06 | 29.60 | 28.65 |
| Total Liabilities ⓘ | 86.32 | 88.08 | 95.14 | 89.76 | 89.33 | 65.90 | 65.82 | 65.49 | 65.50 | 67.14 |
Fixed Assets | ||||||||||
| Gross Block | 29.62 | 29.62 | 28.55 | 26.93 | 26.74 | 64.65 | 64.58 | 64.58 | 64.58 | 64.59 |
| Accumulated Depreciation | 1.46 | 1.89 | 1.48 | 0.24 | 0.38 | 0.59 | 0.74 | 0.93 | 1.05 | 1.11 |
| Net Fixed Assetsⓘ | 28.16 | 27.73 | 27.07 | 26.69 | 26.36 | 64.06 | 63.84 | 63.65 | 63.53 | 63.48 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.58 |
| Investmentsⓘ | 53.72 | 53.72 | 53.72 | 53.72 | 53.72 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 1.52 | 4.35 | 12.02 | 7.22 | 7.18 | 0.01 | 0.01 | 0.01 | 0.01 | 0 |
| Cash Equivalents | 0.05 | 0.03 | 0.16 | 0.09 | 0.04 | 0 | 0.05 | 0.03 | 0 | 0.01 |
| Others Assetsⓘ | 2.88 | 2.25 | 2.17 | 2.03 | 2.03 | 1.84 | 1.92 | 1.81 | 1.96 | 2.07 |
| Total Assets ⓘ | 86.32 | 88.08 | 95.14 | 89.76 | 89.33 | 65.90 | 65.82 | 65.49 | 65.50 | 67.14 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 53.82 | 0.20 | -0.53 | -0.24 | -0.45 | 1.28 | -0.24 | -0.02 | -0.02 | -0.88 |
| PBT ⓘ | 1.29 | 0.07 | 0.56 | -0.54 | -1 | -7.30 | 0.03 | 0.10 | -0.01 | 0.06 |
| Adjustment ⓘ | 0.30 | 0.43 | 0.39 | 0.24 | 0.71 | 7.61 | 0.30 | 0.19 | 0.12 | 0.06 |
| Changes in Working Capital ⓘ | 52.48 | -0.04 | -1.39 | 0.23 | -0.16 | 0.97 | -0.57 | -0.32 | -0.11 | -0.99 |
| Tax Paid ⓘ | -0.25 | -0.26 | -0.08 | -0.16 | 0 | 0 | 0 | 0 | -0.02 | -0.01 |
| Cash Flow From Investing Activity ⓘ | -54.51 | -0.22 | 0.27 | 0.14 | 0.11 | 0 | 0.04 | 0 | 0 | -1.59 |
| Capex | -0.80 | 0 | 0.27 | 0.14 | 0.11 | 0 | 0.04 | 0 | 0 | -0.01 |
| Net Investments | -53.71 | -0.22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.58 |
| Cash Flow From Financing Activityⓘ | 0.69 | 0 | 0.38 | 0.10 | 0.29 | -1.32 | 0.25 | 0 | 0 | 2.47 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.19 |
| Net Proceeds from Borrowing ⓘ | 0.68 | 0 | 0.35 | 0.10 | 0.55 | -0.07 | 1.33 | 1.07 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | -0.51 | -0.22 | -0.12 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0.01 | 0.04 | 0 | 0.25 | -1.04 | -0.97 | -1.07 | 0 | -0.71 |
| Net Cash Flow ⓘ | 0 | -0.02 | 0.12 | 0 | -0.05 | -0.04 | 0.05 | -0.02 | -0.02 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9 | -0.97 | 2.28 | -6.06 | -21.07 | 0 | 0 | 0 | 0 | 0 |
| ROCE (%) | 6.7 | 2.24 | 4.1 | -0.44 | -3.57 | 0 | 0 | 0 | 0 | 0 |
| Asset Turnover Ratio | 0.31 | 0.05 | 0.1 | 0.01 | 0 | 0.04 | 0.02 | 0.03 | 0.03 | 0.02 |
| PAT to CFO Conversion(x) | 59.8 | N/A | -2.21 | N/A | N/A | N/A | -4.8 | -0.13 | N/A | -88 | Working Capital Days |
| Receivable Days | 134 | 240 | 327 | 2,791 | 0 | 479 | 2 | 1 | 1 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 251 | 274 | 550 | 0 | 0 | 5,969 | 0 | 0 | 8,712 | 0 |
VSF Projects was incorporated as Vijaya Shrimp Farms & Exports. It got its present name on November 26, 2008. The company is promoted by B N Murthy, C R Peddineni, G Venkateswar Rao, and G S Ramachandra Rao.
The company has set up an aqua culture farm at Ankalapatur village, in Nellore district of Andhra Pradesh to cultivate black tiger variety (P Mondon) as a 100% export oriented unit. The farm has 64 ponds in total. An in-house hatchery for captive consumption with an installed capacity of 40 million seed per annum is also included in the project.
The hatchery started commercial operation in June 1995.
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Here is the summary:
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