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BSE: 0 | NSE: ARHAM | Consumer Durables - Electronics | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Arham Technologies Ltd is a below average quality company.
The key valuation ratios of Arham Technologies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Arham Technologies Ltd is likely to Rise 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 % ⓘ | 10.4% | 22.4% | 25.1% | 18.6% | - |
| Value Creation Index ⓘ | -0.3 | 0.6 | 0.8 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 13.8 | 22.8 | 36.5 | 48.4 | 48 |
| Sales YoY Gr. | - | 65.1% | 60.3% | 32.8% | - |
| Adj EPS ⓘ | 0.9 | 3.3 | 4.9 | 4.2 | 4.2 |
| YoY Gr. | - | 262.6% | 48.2% | -14.1% | - |
| BVPS (₹) ⓘ | 3.4 | 6.7 | 11.5 | 22.5 | 22.5 |
| Adj Net Profit ⓘ | 0.6 | 2 | 3 | 3.6 | 4 |
| Cash Flow from Ops. ⓘ | 0 | -1.4 | -3.6 | -4.2 | - |
| Debt/CF from Ops. ⓘ | -533.3 | -6.2 | -2.9 | -2.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 52.1% | 32.8% | ||||
| Adj EPS ⓘ | NA | NA | 66.5% | -14.1% | ||||
| BVPSⓘ | NA | NA | 88.5% | 94.9% | ||||
| Share Price | - | - | - | 431.1% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 27.2 | 65.8 | 53.7 | 27.1 | 18.7 |
| Op. Profit Mgn % ⓘ | 11.9 | 15.8 | 13.4 | 12.7 | NAN |
| Net Profit Mgn % ⓘ | 4.1 | 9 | 8.3 | 7.3 | 7.3 |
| Debt to Equity ⓘ | 3.5 | 2.1 | 1.5 | 0.6 | - |
| Working Cap Days ⓘ | 0 | 142 | 164 | 177 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 126 | 133 | 142 | 0 |
Sales growth is growing at healthy rate in last 3 years 52.05%
Net Profit is growing at healthy rate in last 3 years 66.50%
Debt to equity has declined versus last 3 years average to 0.63
Return on Equity has declined versus last 3 years average to 18.70%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.2 | - |
| TTM Sales (₹ Cr.) | 48.4 | - |
| BVPS (₹.) ⓘ | 22.5 | - |
| Reserves (₹ Cr.) ⓘ | 11 | - |
| P/BV ⓘ | 13.65 | - |
| PE ⓘ | 73.14 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 260 |
| Equity (₹ Cr.) | 8.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 134.9 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Sales | 14 | 23 | 36 | 48 |
| Operating Expenses ⓘ | 12 | 19 | 32 | 42 |
| Manufacturing Costs | 0 | 0 | 0 | 1 |
| Material Costs | 12 | 18 | 30 | 40 |
| Employee Cost | 0 | 0 | 1 | 1 |
| Other Costs ⓘ | 0 | 1 | 1 | 1 |
| Operating Profit ⓘ | 2 | 4 | 5 | 6 |
| Operating Profit Margin (%) | 11.9% | 15.8% | 13.4% | 12.7% |
| Other Income ⓘ | 0 | 0 | 1 | 0 |
| Interest ⓘ | 1 | 1 | 1 | 1 |
| Depreciation ⓘ | 1 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 3 | 4 | 5 |
| Tax ⓘ | 0 | 1 | 1 | 1 |
| Profit After Tax | 1 | 2 | 3 | 4 |
| PAT Margin (%) | 4.1% | 9.0% | 8.3% | 7.3% |
| Adjusted EPS (₹) | 0.9 | 3.3 | 4.9 | 4.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2 | 4 | 7 | 19 | ||||||
| Share Capital ⓘ | 2 | 2 | 2 | 8 | ||||||
| Reserves ⓘ | 0 | 2 | 5 | 11 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 7 | 8 | 10 | 12 | ||||||
| Long Term Debt | 3 | 2 | 4 | 4 | ||||||
| Short Term Debt | 4 | 6 | 6 | 8 | ||||||
| Trade Payables | 0 | 1 | 4 | 1 | ||||||
| Others Liabilities ⓘ | 0 | 3 | 2 | 2 | ||||||
| Total Liabilities ⓘ | 10 | 15 | 23 | 34 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 4 | 5 | 3 | 4 | ||||||
| Accumulated Depreciation | 1 | 1 | 1 | 1 | ||||||
| Net Fixed Assetsⓘ | 4 | 3 | 2 | 3 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 4 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 3 | 8 | 10 | 13 | ||||||
| Trade Receivables | 2 | 3 | 10 | 10 | ||||||
| Cash Equivalents | 0 | 0 | 0 | 1 | ||||||
| Others Assetsⓘ | 1 | 0 | 1 | 3 | ||||||
| Total Assets ⓘ | 10 | 15 | 23 | 34 | ||||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | -1 | -4 | -4 |
| PBT ⓘ | 1 | 2 | 3 | 4 |
| Adjustment ⓘ | 1 | 1 | 0 | 0 |
| Changes in Working Capital ⓘ | -2 | -5 | -7 | -8 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | 1 | -5 |
| Capex | 0 | 0 | 0 | -5 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 2 | 0 |
| Cash Flow From Financing Activityⓘ | -1 | 2 | 2 | 10 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 12 |
| Net Proceeds from Borrowing ⓘ | -4 | 0 | 2 | 0 |
| Interest Paid ⓘ | -1 | -1 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 4 | 2 | 0 | -3 |
| Net Cash Flow ⓘ | -1 | 0 | 0 | 1 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 27.21 | 65.82 | 53.69 | 27.14 | ||||||
| ROCE (%) | 12.19 | 30.25 | 35.88 | 25.12 | ||||||
| Asset Turnover Ratio | 1.41 | 1.81 | 1.88 | 1.69 | ||||||
| PAT to CFO Conversion(x) | 0 | -0.5 | -1.33 | -1 | Working Capital Days | |||||
| Receivable Days | 49 | 38 | 66 | 78 | ||||||
| Inventory Days | 89 | 95 | 90 | 83 | ||||||
| Payable Days | 12 | 9 | 25 | 22 | ||||||
The company was originally incorporated as Private Limited Company in the name of “Arham Techonologies Private Limited” on December 27, 2013 under the provision of the Companies Act, 1956 bearing Corporate Identification Number issued by Registrar of Companies – Chhattisgarh. Subsequently, name of the company changed to “Arham Technologies Private Limited” vide fresh Certificate of Incorporation dated February 27, 2014 bearing Corporate Identification Number issued by Registrar of Companies – Chhattisgarh. Subsequently, the company was converted into Public Limited Company under the Companies Act, 2013 and the name of the Company was changed to “Arham Technologies Limited” vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated January 11, 2022 bearing Corporate Identification Number issued by Registrar of Companies – Chhattisgarh.
Arham Technologies is engaged in manufacturing of LED Smart Televisions, with different screen sizes under its brand ‘STARSHINE’. It also manufactures Fans, Air Coolers and Mixer Grinders through third party manufacturers under its brand ‘STARSHINE’. It has network of dealers and distributors across Chhattisgarh, Madhya Pradesh, Odisha, Vidarbha, Andhra Pradesh and parts of Uttar Pradesh. The company also serves under Original Equipment Manufacturer (OEM) business models for LED Televisions. Under the OEM model, it manufactures and supply products as per the requirements of its customers, who then further distribute these products under their own brands. With primary focus on quality, it has been catering to a number of regional brands in Central India. With serving Original Equipment Manufacturer (OEM), it has adopted a cost-effective pricing strategy which gives the clients an upper hand over other brands.
The company plans to add other products in its portfolio by way of white labelling, to be a part of bigger portfolio of products. However, it plans to keep its focus on sales of Smart Televisions by making schemes and offers centric to Televisions. It is also setting up a manufacturing facility for Fans at its existing locations which shall give better margin and control in supply chain, as it does not have to depend on other manufacturers for procurement. It is strategically located in Electronic Manufacturing Cluster, in new Smart City of Raipur, which is one of the very first smart cities of India. Chhattisgarh borders seven states i.e. Odisha, Andhra Pradesh, Telangana, Maharashtra, Madhya Pradesh Uttar Pradesh and Jharkhand which gives direct market access to these states. Inland port, also gives an advantage to the location, which brings down cost of import and exports as compared to busy ports like Nhava Sheva etc. Being located in central part of India, it enjoys many geographical advantages.
Business area of the company
The company is engaged in manufacturing of LED Smart Televisions. The company manufactures LED Televisions with different screen sizes under the brand 'STARSHINE'. The company also manufactures Fans, Air Coolers and Mixer Grinders through third-party manufacturers.
Key Milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
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.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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