RKEC Projects Ltd - Stock Valuation and Financial Performance

BSE: 0 | NSE: RKEC | Engineering - Construction | Small Cap

BSE Share Price
Not Listed

DeciZen - make an informed investing decision on RKEC Projects

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

1. Quality

2. Valuation

Undervalued

3. Price Trend

Semi Strong

RKEC Projects stock performance -

mw4me loader
P/E Ratio (SA):
14.11
Market Cap:
221.4 Cr.
52-wk low:
0
52-wk high:
0

Is RKEC Projects Ltd an attractive stock to invest in?

1. Is RKEC Projects Ltd a good quality company?

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

2. Is RKEC Projects Ltd undervalued or overvalued?

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

3. Is RKEC Projects Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of RKEC Projects 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 RKEC Projects:

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.
RKEC Projects 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 12.4%11.6%18.9%45.8%36.8%25.9%30.3%11.4%7.5%11.5%-
Value Creation
Index
-0.1-0.20.42.31.60.91.2-0.2-0.5-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 57.370.8113197240244298202209300300
Sales YoY Gr.-23.7%58.9%75.2%21.5%1.8%22.1%-32.1%3.1%43.8%-
Adj EPS 1.72.13.36.18.51016.55.32.65.16.5
YoY Gr.-18.4%62.1%83.2%38.9%17.9%65.1%-67.9%-50.7%93.1%-
BVPS (₹) 21.323.226.518.831.24050.155.456.861.968.4
Adj Net
Profit
1.723.211.820.42439.712.76.312.116
Cash Flow from Ops. 1.9-9.624.719.5-247.339.1-35.912.316.3-
Debt/CF from Ops. 10.9-1.10.60-0.66.81.8-3.111.57.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 20.2%4.6%0.2%43.8%
Adj EPS 12.6%-9.9%-32.6%93.1%
BVPS12.6%14.7%7.4%9%
Share Price - 7.8% 17.6% 32.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
8.49.313.438.236.828.236.710.14.78.510
Op. Profit
Mgn %
16.613.311.614.516.218.924.117.314.218.418
Net Profit
Mgn %
2.92.82.968.59.913.36.3345.2
Debt to
Equity
10.50.600.20.50.60.810.80.3
Working Cap
Days
233176181143149215240439441324495
Cash Conv.
Cycle
-4638659294114112287375271207

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 10.00%

Debt to equity has declined versus last 3 years average to 0.78

Sales growth has been subdued in last 3 years 0.23%

Net Profit has been subdued in last 3 years -32.62%

Sales growth is not so good in last 4 quarters at 1.35%

Latest Financials - RKEC Projects Ltd.

Standalone Consolidated
TTM EPS (₹) 6.5 6.1
TTM Sales (₹ Cr.) 300 269
BVPS (₹.) 68.4 68
Reserves (₹ Cr.) 140 139
P/BV 1.35 1.36
PE 14.11 15.09
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 221
Equity (₹ Cr.) 24
Face Value (₹) 10
Industry PE 42.4

Management X-Ray of RKEC Projects:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *30.6130.6130.610.0036.8736.8736.8764.4759.9259.92
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of RKEC Projects

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
Sales5771113197240244298202209300
Operating Expenses 4861100169201198226167179245
Manufacturing Costs00058719188676785
Material Costs18284595106851107788125
Employee Cost 55813151318141718
Other Costs 252846388109616
Operating Profit 1091329394672353055
Operating Profit Margin (%) 16.6%13.3%11.6%14.5%16.2%18.9%24.0%17.3%14.2%18.4%
Other Income 1113113324
Interest 43584916171927
Depreciation 4433344445
Exceptional Items -100000-13000
Profit Before Tax 2352033354117927
Tax 11271210115315
Profit After Tax 1231320243013612
PAT Margin (%) 1.9%2.8%2.8%6.6%8.5%9.9%10.2%6.3%3.0%4.0%
Adjusted EPS (₹)0.61.01.76.78.510.112.65.32.65.1
Dividend Payout Ratio (%)0%0%0%22%24%20%0%23%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 212226367596120133136149
Share Capital 10101019242424242424
Reserves 11131617517296109112125
Minority Interest0000000000
Debt1810150154865107137111
Long Term Debt200012464943
Short Term Debt16101501447611018868
Trade Payables14101929417594674874
Others Liabilities 15135147181442513651
Total Liabilities 6755111112149234321357358385

Fixed Assets

Gross Block17151232384737636471
Accumulated Depreciation000212427481217
Net Fixed Assets17151211142033555254
CWIP 000001023009
Investments 0000000000
Inventories11164832154572727392
Trade Receivables181519408282107169148161
Cash Equivalents 1742422183344376628
Others Assets3588194443251940
Total Assets 6755111112149234321357358385

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2-102519-24739-361216
PBT 2352033354117927
Adjustment 44886813131417
Changes in Working Capital -3-1613-4-51-24-4-62-8-13
Tax Paid -2-1-1-5-12-10-11-5-3-15
Cash Flow From Investing Activity 0-102-4-34-374-35
Capex -1-2-11-7-9-18-26-1-7
Net Investments 0000000000
Others 11113-25-1930-212
Cash Flow From Financing Activity -2-3-6-23252503015-41
Net Proceeds from Shares 00002100000
Net Proceeds from Borrowing 0-200102243-6
Interest Paid -2-1-5-8-4-5-11-12-12-14
Dividend Paid 0000-3-3-60-30
Others 000-1511331540-13-20
Net Cash Flow 0-1319-1-2-23-225-19
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)5.389.1313.2941.836.6928.2728.0210.094.678.52
ROCE (%)17.3117.0528.5374.1957.8737.2733.8615.9210.7219.94
Asset Turnover Ratio0.791.161.351.761.841.281.070.60.580.81
PAT to CFO Conversion(x)2-58.331.46-1.20.291.3-2.7721.33
Working Capital Days
Receivable Days16286555493123116249277188
Inventory Days527110474364571129127101
Payable Days37915511964641231511935732

RKEC Projects Ltd Stock News

RKEC Projects Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of RKEC Projects 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 RKEC Projects stood at ₹221.4.
The latest P/E ratio of RKEC Projects as of 01-Jan-1970 05:30 is 14.11.
The latest P/B ratio of RKEC Projects as of 01-Jan-1970 05:30 is 1.35.
The 52-week high of RKEC Projects is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of RKEC Projects is ₹299.8 ( Cr.) .

About RKEC Projects Ltd

RKEC Projects was originally incorporated on April 01, 2005 as ‘RKEC Projects Private Limited’ vide under the provisions of the Companies Act, 1956 with the Registrar of Companies, Andhra Pradesh, Hyderabad. The Company after its incorporation takeover the running business of a proprietorship firm of their Promoter Radhakrishna Garapati with effect from April 01, 2006 ‘RK Engineers & Contractors’. Further, the Company was converted into a Public Limited Company pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting of the Company held on October 31, 2016 and the name of company was changed to ‘RKEC Projects Limited’ vide a fresh Certificate of incorporation dated November 10, 2016, issued by the Registrar of Companies, Hyderabad.

They are a construction company primarily engaged in the business of Civil Construction such as construction of Highways, roads and bridges. During the last decade, they have undertaken and successfully completed many construction projects in India covering states of Andhra Pradesh, Tamil Nadu, Gujarat, Odisha, Rajasthan and Maharashtra. In addition to them, they have expanded their presence to three more states, Kerala, Uttar Pradesh and Manipur, with their ongoing projects. They have been able to achieve their targets by fusing tremendous engineering knowledge with groundbreaking skills, experienced team, binding an optimum mix of men, machine and materials across diverse projects.

Business area of the Company

Their core business is designing and undertaking construction projects such as Bridges, Ports, dams, high-rise structures, airports, cross water, roads, highways, Oil and gas Pipelines, complexes and environmental structures across India. They have attained good reputation among their clients because of the track record, experienced members and a proven strength on delivery norms across its all spectrum of services. They have entered into projects for diverse range of clients including Defence sector, Railways, Ports, Adani Port, Vedanta , IVRCL , Rashtriya Ispat Nigam and ESSAR.

Major events and milestones:

  • 2005-06: Incorporation of the Company in the name and style of ‘RKEC Projects Private Limited’.
  • 2006-07: The Company took over the running business of the proprietorship firm of one of the Promoter Radhakrishna Garapati being carried on under the name and style of ‘RK Engineers & Contractors’.
  • 2012-13: The Company has undertaken an extra business activity of ‘Facility Management’ which was subsequently closed down in the next financial year.
  • 2015-16: Conversion of Company from Private Limited to Public Limited.
  • 2015-16: Completed Construction of Second Liquid Chemical/POL Berth Off Pir Pau, Mumbai worth Rs 29.20 Crores.
  • 2016-17: Received a Major Project of Construction of Coastal Berth Project at Jawaharlal Nehru Port Trust worth Rs 143.32 Crores.
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