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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Bharat Bijlee Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:24 pm

Market Cap 4,137 Cr.
Current Price 3,649
High / Low5,701/1,845
Stock P/E34.2
Book Value 1,956
Dividend Yield0.96 %
ROCE10.6 %
ROE8.01 %
Face Value 5.00
PEG Ratio1.78

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bharat Bijlee Ltd

Competitors of Bharat Bijlee Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Ujaas Energy Ltd 546 Cr. 27.127.1/1.8522.8 3.620.00 %1.55 %29.5 % 1.00
IMP Powers Ltd 4.84 Cr. 5.607.25/5.30 3120.00 %35.3 %% 10.0
Bharat Bijlee Ltd 4,137 Cr. 3,6495,701/1,84534.2 1,9560.96 %10.6 %8.01 % 5.00
Industry Average2,341.50 Cr1,227.2328.50757.210.32%15.82%18.76%5.33

All Competitor Stocks of Bharat Bijlee Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales222290288305323349277324388430441420424
Expenses198276266283298335255300355391409381385
Operating Profit24142223251522243339333839
OPM %11%5%8%7%8%4%8%7%8%9%7%9%9%
Other Income5105659777810710
Interest4456555567555
Depreciation3333333333334
Profit before tax23171819211621233137333740
Tax %32%24%24%26%25%27%24%25%24%27%24%24%25%
Net Profit16131414161216172327252830
EPS in Rs27.7623.0924.2125.4628.1320.5428.8929.9740.8647.5344.8249.3552.53

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales7175414856106386777749329297311,2661,4181,715
Expenses7035414916286186587378728586921,1791,2991,566
Operating Profit15-0-6-1820203761703987120149
OPM %2%-0%-1%-3%3%3%5%7%8%5%7%8%9%
Other Income77171818212768293027242935
Interest16151523231923202319242423
Depreciation10111112101098910121314
Profit before tax66-8-13-347187362693775111147
Tax %19%41%16%1%2%20%16%33%34%29%25%25%
Net Profit54-5-11-34714614246265683110
EPS in Rs94.96-8.62-19.98-60.2512.7225.51107.8873.4880.7246.0998.34147.25194.23
Dividend Payout %26%-29%0%0%0%0%2%17%15%11%30%27%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-109.26%-120.00%-209.09%120.59%100.00%335.71%-31.15%9.52%-43.48%115.38%48.21%
Change in YoY Net Profit Growth (%)0.00%-10.74%-89.09%329.68%-20.59%235.71%-366.86%40.67%-53.00%158.86%-67.17%

Bharat Bijlee Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:14%
5 Years:15%
3 Years:37%
TTM:6%
Compounded Profit Growth
10 Years:29%
5 Years:27%
3 Years:73%
TTM:17%
Stock Price CAGR
10 Years:30%
5 Years:54%
3 Years:58%
1 Year:94%
Return on Equity
10 Years:5%
5 Years:6%
3 Years:7%
Last Year:8%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:36 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital6666666666666
Reserves3062952602676466867467509671,1181,3721,8592,205
Borrowings8581133169178215199248238279287150143
Other Liabilities193193201201213208197237266258386490625
Total Liabilities5895765996421,0421,1141,1481,2401,4761,6602,0522,5052,978
Fixed Assets9794847772656974102105108130129
CWIP21111782433232
Investments2412883523473763535616738901,3241,754
Other Assets4664695075566186936957908108781,0511,0481,094
Total Assets5895765996421,0421,1141,1481,2401,4761,6602,0522,5052,978

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +76-41-513-53531239-952241
Cash from Investing Activity +-121110-11626-20-22-13-14-10-52
Cash from Financing Activity +-6-183114-718-3410-2017-31-182
Net Cash Flow-11-10-212-10-116-6117

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow15.00-85.00-87.00-151.00-149.00-158.00-178.00-138.00-178.00-199.00-192.00-167.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days127119127128120140100115120999974
Inventory Days8412068809174811141908611674
Days Payable1231421151141151038496133547159
Cash Conversion Cycle88978094971119813317813014589
Working Capital Days1421799810714118817219725712217457
ROCE %2%0%-3%7%6%6%9%9%5%8%9%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters33.45%33.45%33.45%33.45%33.45%33.86%33.86%33.86%33.86%33.72%33.72%33.69%
FIIs0.18%0.37%0.60%0.63%0.76%0.82%0.88%1.68%2.07%2.14%2.32%3.60%
DIIs12.63%10.85%10.22%9.37%8.17%6.81%6.06%5.04%5.66%7.82%9.19%12.70%
Public53.74%55.33%55.73%56.55%57.61%58.50%59.20%59.43%58.40%56.33%54.77%50.02%
No. of Shareholders19,60620,84722,93123,24923,84724,25526,13029,12534,47936,69839,72350,790

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mahindra Manulife Small Cap Fund74,9651.1736.2374,9652024-11-210%
LIC MF Large & Mid Cap Fund64,4751.2631.1674,9652024-11-21-13.99%
Quant Infrastructure Fund64,4702.3631.1674,9652024-11-21-14%
LIC MF Infrastructure Fund15,7244.837.674,9652024-11-21-79.02%
LIC MF Small Cap Fund8,9602.244.3374,9652024-11-21-88.05%
Taurus Infrastructure Fund5673.570.2774,9652024-11-21-99.24%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)116.29147.2698.3446.0980.69
Diluted EPS (Rs.)116.29147.2698.3446.0980.69
Cash EPS (Rs.)259.96170.14119.6763.2496.59
Book Value[Excl.RevalReserv]/Share (Rs.)3301.112437.721987.681720.351336.82
Book Value[Incl.RevalReserv]/Share (Rs.)3301.112437.721987.681720.351336.82
Dividend / Share (Rs.)70.0040.0030.005.0012.50
Revenue From Operations / Share (Rs.)3314.122509.902239.611293.531643.30
PBDIT / Share (Rs.)371.89258.97190.45112.05173.71
PBIT / Share (Rs.)344.57236.09169.1294.90157.84
PBT / Share (Rs.)308.09197.04131.9264.86121.94
Net Profit / Share (Rs.)232.64147.2698.3446.0980.72
PBDIT Margin (%)11.2210.318.508.6610.57
PBIT Margin (%)10.399.407.557.339.60
PBT Margin (%)9.297.855.895.017.42
Net Profit Margin (%)7.015.864.393.564.91
Return on Networth / Equity (%)7.046.044.942.676.03
Return on Capital Employeed (%)9.819.238.205.3611.77
Return On Assets (%)5.244.053.341.763.67
Total Debt / Equity (X)0.080.200.240.240.32
Asset Turnover Ratio (%)0.820.760.800.530.77
Current Ratio (X)1.661.721.381.681.59
Quick Ratio (X)1.161.200.931.141.18
Inventory Turnover Ratio (X)4.454.153.742.473.98
Dividend Payout Ratio (NP) (%)0.0020.375.080.0030.97
Dividend Payout Ratio (CP) (%)0.0017.634.170.0025.88
Earning Retention Ratio (%)0.0079.6394.920.0069.03
Cash Earning Retention Ratio (%)0.0082.3795.830.0074.12
Interest Coverage Ratio (X)10.206.635.123.734.84
Interest Coverage Ratio (Post Tax) (X)7.384.773.642.533.25
Enterprise Value (Cr.)3603.501701.901250.14853.45563.62
EV / Net Operating Revenue (X)1.921.200.981.170.60
EV / EBITDA (X)17.1511.6311.6113.485.74
MarketCap / Net Operating Revenue (X)1.931.010.770.860.34
Retention Ratios (%)0.0079.6294.910.0069.02
Price / BV (X)1.941.040.870.640.42
Price / Net Operating Revenue (X)1.931.010.770.860.34
EarningsYield0.030.050.050.040.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bharat Bijlee Ltd as of November 22, 2024 is: 5,409.75

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 22, 2024, Bharat Bijlee Ltd is Undervalued by 48.25% compared to the current share price 3,649.00

Intrinsic Value of Bharat Bijlee Ltd as of November 22, 2024 is: 6,448.29

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 22, 2024, Bharat Bijlee Ltd is Undervalued by 76.71% compared to the current share price 3,649.00

Last 5 Year EPS CAGR: 19.20%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (882.85 cr) compared to borrowings (185.00 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (541.31 cr) and profit (46.92 cr) over the years.
  1. The stock has a low average ROCE of 5.75%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 152.83, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 111.67, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bharat Bijlee Ltd:
    1. Net Profit Margin: 7.01%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 9.81% (Industry Average ROCE: 15.82%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 7.04% (Industry Average ROE: 18.76%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 7.38
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.16
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 34.2 (Industry average Stock P/E: 28.5)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.08
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bharat Bijlee Ltd. is a Public Limited Listed company incorporated on 22/06/1946 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L31300MH1946PLC005017 and registration number is 005017. Currently Company is involved in the business activities of Manufacture of other electrical equipment. Company’s Total Operating Revenue is Rs. 1265.74 Cr. and Equity Capital is Rs. 5.65 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electric Equipment - TransformersElectric Mansion, 6th Floor, Appasaheb Marathe Marg, Mumbai Maharashtra 400025investorcare@bharatbijlee.com
http://www.bharatbijlee.com
Management
NamePosition Held
Mr. Prakash V MehtaChairman & Ind.Dire (Non-Exe)
Mr. Nikhil J DananiVice Chairman & Mng.Director
Mr. Nakul P MehtaVice Chairman & Mng.Director
Mr. Shome N DananiExecutive Director
Mr. Sanjiv N ShahInd. Non-Executive Director
Mr. Jairaj C ThackerInd. Non-Executive Director
Ms. Mahnaz A CurmallyInd. Non-Executive Director
Mr. Rajeshwar D BajaajInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Bharat Bijlee Ltd?

The latest intrinsic value of Bharat Bijlee Ltd as on 21 November 2024 is ₹5409.75, which is 48.25% higher than the current market price of ₹3,649.00.

What is the Market Cap of Bharat Bijlee Ltd?

The Market Cap of Bharat Bijlee Ltd is 4,137 Cr..

What is the current Stock Price of Bharat Bijlee Ltd as on 21 November 2024?

The current stock price of Bharat Bijlee Ltd as on 21 November 2024 is ₹3,649.

What is the High / Low of Bharat Bijlee Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bharat Bijlee Ltd stocks is 5,701/1,845.

What is the Stock P/E of Bharat Bijlee Ltd?

The Stock P/E of Bharat Bijlee Ltd is 34.2.

What is the Book Value of Bharat Bijlee Ltd?

The Book Value of Bharat Bijlee Ltd is 1,956.

What is the Dividend Yield of Bharat Bijlee Ltd?

The Dividend Yield of Bharat Bijlee Ltd is 0.96 %.

What is the ROCE of Bharat Bijlee Ltd?

The ROCE of Bharat Bijlee Ltd is 10.6 %.

What is the ROE of Bharat Bijlee Ltd?

The ROE of Bharat Bijlee Ltd is 8.01 %.

What is the Face Value of Bharat Bijlee Ltd?

The Face Value of Bharat Bijlee Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bharat Bijlee Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE