Canarys Automations Ltd - Stock Valuation and Financial Performance

BSE: 0 | NSE: CANARYS | IT - Software | Small Cap

BSE Share Price
Not Listed

DeciZen - make an informed investing decision on Canarys Automations

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

Semi Strong

Canarys Automations stock performance -

mw4me loader
P/E Ratio (SA):
27.39
Market Cap:
240.2 Cr.
52-wk low:
0
52-wk high:
0

Is Canarys Automations Ltd an attractive stock to invest in?

1. Is Canarys Automations Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Canarys Automations Ltd is a average quality company.

2. Is Canarys Automations Ltd undervalued or overvalued?

The key valuation ratios of Canarys Automations Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Canarys Automations Ltd a good buy now?

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

10 Year X-Ray of Canarys Automations:

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.
Canarys Automations Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 25.5%42.1%56.6%22.4%-
Value Creation
Index
0.82.03.00.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 25.251.873.774.574
Sales YoY Gr.-105.7%42.3%1%-
Adj EPS 0.61.12.21.51.6
YoY Gr.-87.7%108.4%-31.4%-
BVPS (₹) 1.92.74.812.412.4
Adj Net
Profit
2.24.49.18.69
Cash Flow from Ops. -1.82.1-5.3-15.1-
Debt/CF from Ops. 00.5-0.8-0.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA43.6%1%
Adj EPS NANA39%-31.4%
BVPSNANA88.8%159.2%
Share Price - - - 0.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
17.730.644.417.312.5
Op. Profit
Mgn %
13.21217.214.9NAN
Net Profit
Mgn %
8.68.412.311.511.8
Debt to
Equity
00.10.20.1-
Working Cap
Days
01902223030
Cash Conv.
Cycle
049591560

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 43.55%

Net Profit is growing at healthy rate in last 3 years 38.98%

Return on Equity has declined versus last 3 years average to 12.50%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials - Canarys Automations Ltd.

Standalone Consolidated
TTM EPS (₹) 1.6 1.4
TTM Sales (₹ Cr.) 74.5 75
BVPS (₹.) 12.4 12.4
Reserves (₹ Cr.) 59 58
P/BV 3.44 3.44
PE 27.39 30.04
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 240
Equity (₹ Cr.) 11.2
Face Value (₹) 2
Industry PE 33.7

Management X-Ray of Canarys Automations:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Canarys Automations

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24
Sales25527474
Operating Expenses 22466163
Manufacturing Costs2032
Material Costs6191917
Employee Cost 12202832
Other Costs 171112
Operating Profit 361311
Operating Profit Margin (%) 13.2%11.8%17.0%14.9%
Other Income 0011
Interest 0000
Depreciation 0000
Exceptional Items 0000
Profit Before Tax 361312
Tax 1133
Profit After Tax 2499
PAT Margin (%) 8.7%8.3%12.7%11.8%
Adjusted EPS (₹)0.60.92.31.6
Dividend Payout Ratio (%)0%11%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 12162573
Share Capital 79914
Reserves 571659
Minority Interest0000
Debt0144
Long Term Debt0000
Short Term Debt0144
Trade Payables4191814
Others Liabilities 37611
Total Liabilities 204353102

Fixed Assets

Gross Block4533
Accumulated Depreciation3422
Net Fixed Assets1111
CWIP 0002
Investments 1022
Inventories1531
Trade Receivables11264264
Cash Equivalents 42123
Others Assets2959
Total Assets 204353102

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity -22-5-15
PBT 261312
Adjustment 1100
Changes in Working Capital -4-3-15-24
Tax Paid -1-1-3-3
Cash Flow From Investing Activity -10-1-2
Capex 000-2
Net Investments -10-11
Others 0100
Cash Flow From Financing Activity 51239
Net Proceeds from Shares 6001
Net Proceeds from Borrowing 0000
Interest Paid 0000
Dividend Paid 0-1-10
Others 01338
Net Cash Flow 23-423
PARTICULARSMar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)30.9447.7661.3819.59
ROCE (%)25.4942.156.6222.43
Asset Turnover Ratio1.281.641.530.96
PAT to CFO Conversion(x)-10.5-0.56-1.67
Working Capital Days
Receivable Days153130169261
Inventory Days1520189
Payable Days234225352335

Canarys Automations Ltd Stock News

Canarys Automations Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Canarys Automations on 01-Jan-1970 05:30 is ₹0.00.
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 01-Jan-1970 05:30 the market cap of Canarys Automations stood at ₹240.2.
The latest P/E ratio of Canarys Automations as of 01-Jan-1970 05:30 is 27.39.
The latest P/B ratio of Canarys Automations as of 01-Jan-1970 05:30 is 3.44.
The 52-week high of Canarys Automations is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Canarys Automations is ₹74.49 ( Cr.) .

About Canarys Automations Ltd

Canarys Automations was originally incorporated as a private limited company under the Companies Act, 1956 in the name and style of ‘Canarys Automations Private Limited’ pursuant to certificate of incorporation dated July 1, 1991 issued by the RoC, Bengaluru, Karnataka. The company became a deemed public limited company under Section 43A of the Companies Act, 1956 and the word ‘private’ was deleted with effect from June 22, 1992. The company became a private limited company, pursuant to Section 43A (2A) of Companies Act, 1956 with effect from June 20, 2000. Subsequently, the company was converted into public limited company pursuant to special resolution passed in the EGM held on August 01, 2006, and consequently, the name of the company was changed to ‘Canarys Automations Limited’ and a fresh certificate of incorporation consequent upon conversion from private company to public company was issued by RoC, Bengaluru, Karnataka on September 21, 2006. Subsequently, the company was converted into private limited company pursuant to the approval of its shareholders at an EGM held on November 16, 2007, and Consequently, the name of the company was changed to ‘Canarys Automations Private Limited’ and a fresh certificate of incorporation consequent upon conversion from public company to private company was issued by RoC, Bengaluru, Karnataka on November 27, 2007. Subsequently, the company was converted into public limited company pursuant special resolution passed by the shareholders at the EGM held on May 19, 2023, and consequently, the name of the company was changed to ‘Canarys Automations Limited’ and a fresh certificate of incorporation consequent upon conversion from private company to public company was issued by RoC, Bengaluru, Karnataka on June 27, 2023.

Canarys Automations is a leading IT solutions provider with many years of existence in the industry. Its expertise lies in enabling digital transformation for businesses through its comprehensive range of software solutions in the space of Digitalization, Modernization, Automation and Intelligence. The company’s business operates across two verticals. (i) Technology solutions: Its technology solution offerings include multiple array of consulting solutions in Digitalization, Modernization, Cloudification, Automation, Transformation and Intelligence. Technology expertise includes DevOps Consulting (Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions using SAP, MS Dynamics 365, RPA, Digital Applications and Mobility Solutions. (ii) Water Resource Management Solution: It offers automation solutions to modernize irrigation water conservation, and improve water use efficiency, Turnkey flood risk assessment and mitigation, cloud based water utilisation process automation for water sharing in rivers and canals and SCADA gate control systems.

The company understands the evolving demands of the digital landscape, and it is dedicated to helping organizations harness the power of technology to drive growth and success. Its solutions span across various industry sectors, BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance and more. With a strong focus on digital transformation, it empowers businesses to optimize their operations, enhance customer experiences, and stay ahead of the competition. The company’s commitment to excellence has been recognized and rewarded by various customers, alliance partners and OEM’s.

Business area of the company

The company is a leading IT solutions provider. Its expertise lies in enabling digital transformation for businesses through its comprehensive range of software solutions in the space of Digitalization, Modernization, Automation and Intelligence. Its business operates across two verticals viz., Technology solutions and Water Resource Management Solutions.

Solutions and services of the company

Technology solutions

  • Digitization solution
  • Modernization
  • Cloudification
  • Automation
  • Transformation 
  • Intelligence solution

Water resource management solutions

Awards, accreditations or recognition 

  • 1999: Certificate of Recognition- from ESSC Hewlett Packard- ISO-Delivering Chanakya Metrics Tool.
  • 2017: DevOps partner of the year award from Microsoft.
  • 2018: DevOps partner of the year award from Microsoft.
  • 2022: Win Karnataka Innovation Leadership Award.
  • 2022: Recognition from Microsoft for delivering innovative customer solutions and services based on Microsoft technologies.
  • 2022: Certificate of Appreciation from Ministry of Finance for Prompt Payment of GST.
  • 2023: Won Award-CEO Highest Quality from World Quality Congress & Awards.
  • 2023: Most Innovative DevOps Company.
  • 2023: Leader in DevOps Solutions.
  • 2023: Best DevOps Solution Provider.
  • 2023: ISO 9001:2015 Certification.

History and milestones 

  • 1991: Incorporation of the company as ‘Canarys Automations Private Limited’ under the Companies Act, 1956.
  • 1992: Obtained funding from CanBank Financial Services Limited, Trustee of Canbank Venture Capital Fund.
  • 1996: Entered into Partnership with large Multinational Software Company having Bengaluru Operations.2002: Incorporated the Canarys Corp., wholly owned subsidiary company in USA.
  • 2002: Won a Contract from large Indian Software Company.
  • 2004: ISO Certification Successfully Accredited.
  • 2005: Entered in Partnership with a Large US Based Product Company.
  • 2010: Foray into Hydrology and Meteorology Business.
  • 2012: WRDO (Water Resources Development Organization) Works Over the Years.
  • 2020: Incorporated a Canarys APAC Pte Ltd, a foreign wholly owned-subsidiary of the Companyin Singapore.2020: National Hydrology Projects secured for Real Time Data Acquisition Systems in West Bengal, Madhya Pradesh, Orissa, Punjab states, create nationwide recognition for Canarys in Hydro-Met business.
  • 2021: Increased the revenue of the Company from Rs 18 crore in financial year 2019-20 to Rs 25 crore in financial year 2020-21.
  • 2022:  Increased the revenue of the company from Rs 25 crore in financial year 2020-21 to Rs 50 crore in financial year 2021-22.
  • 2022: Entered into partnership with SAP.
  • 2023: Increased the revenue of the company from Rs 50 crore in financial year 2021-22 to Rs 74.51 crore in financial year 2022-23.

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