Stock P/E, Current Price, and Intrinsic Value Over Time
Competitors of IIFL Securities Ltd
Stock Name
Market Cap
Current Price
High / Low
Stock P/E
Book Value
Dividend Yield
ROCE
ROE
Face Value
Industry Average
0 Cr
0
0
0
0%
0%
0%
0
Quarterly Result
Month
Dec 2020
Mar 2021
Jun 2021
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Sales
201
238
251
299
336
347
292
317
342
402
409
507
559
Expenses
125
140
153
176
199
221
198
212
226
250
271
348
318
Operating Profit
76
98
98
123
137
125
93
104
116
152
138
159
240
OPM %
38%
41%
39%
41%
41%
36%
32%
33%
34%
38%
34%
31%
43%
Other Income
14
18
17
19
32
15
3
7
5
3
2
27
23
Interest
10
14
13
30
39
18
19
19
18
19
21
30
43
Depreciation
11
11
15
15
16
17
16
17
17
17
16
16
18
Profit before tax
68
92
87
97
113
105
61
75
85
119
102
140
203
Tax %
26%
16%
21%
25%
24%
25%
29%
26%
24%
27%
27%
23%
26%
Net Profit
51
77
69
72
86
79
43
55
65
86
75
108
151
EPS in Rs
1.58
2.55
2.27
2.38
2.84
2.60
1.43
1.83
2.12
2.83
2.45
3.52
4.88
Last Updated: August 10, 2024, 2:19 pm
Quarterly Chart
Profit & Loss - Annual Report
Last Updated: August 9, 2024, 6:45 pm
Month
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
TTM
Sales
933
870
758
841
1,295
1,361
1,660
Expenses
491
461
432
487
749
886
1,095
Operating Profit
441
409
326
354
546
475
564
OPM %
47%
47%
43%
42%
42%
35%
34%
Other Income
14
6
134
27
22
10
37
Interest
145
115
103
50
102
77
89
Depreciation
37
42
55
46
63
67
66
Profit before tax
274
258
301
285
402
341
446
Tax %
34%
34%
22%
23%
24%
27%
Net Profit
181
171
234
220
306
250
333
EPS in Rs
96.47
91.58
7.32
7.27
10.07
8.19
10.92
Dividend Payout %
-0%
-0%
27%
14%
30%
37%
Profit & Loss Yearly Chart
YoY Net Profit Growth
Year
2018-2019
2019-2020
2020-2021
2021-2022
2022-2023
YoY Net Profit Growth (%)
-5.52%
36.84%
-5.98%
39.09%
-18.30%
Change in YoY Net Profit Growth (%)
0.00%
42.37%
-42.83%
45.07%
-57.39%
Growth
Compounded Sales Growth
10 Years:
%
5 Years:
21%
3 Years:
38%
TTM:
63%
Compounded Profit Growth
10 Years:
%
5 Years:
24%
3 Years:
33%
TTM:
121%
Stock Price CAGR
10 Years:
%
5 Years:
%
3 Years:
50%
1 Year:
312%
Return on Equity
10 Years:
%
5 Years:
25%
3 Years:
27%
Last Year:
32%
Last Updated: September 4, 2024, 5:55 pm
Balance Sheet
Last Updated: August 9, 2024, 6:45 pm
Month
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Equity Capital
0
0
64
61
61
61
62
Reserves
560
667
816
907
1,121
1,289
1,725
Borrowings
1,097
759
459
292
607
486
1,154
Other Liabilities
1,205
1,624
1,095
2,285
4,252
3,401
4,934
Total Liabilities
2,862
3,050
2,434
3,544
6,041
5,237
7,875
Fixed Assets
512
393
402
488
482
440
379
CWIP
84
86
130
47
3
1
1
Investments
159
140
231
74
228
90
159
Other Assets
2,107
2,431
1,671
2,936
5,329
4,707
7,335
Total Assets
2,862
3,050
2,434
3,544
6,041
5,237
7,875
Reserves and Borrowings Chart
Cash Flow
Month
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Cash from Operating ActivityÂ
-110
587
352
152
795
-793
-118
Cash from Investing ActivityÂ
-118
0
21
148
-86
163
-74
Cash from Financing ActivityÂ
462
-494
-514
-361
108
-296
430
Net Cash Flow
234
93
-141
-62
817
-925
239
Free Cash Flow
Month
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Free Cash Flow
440.00
-350.00
-133.00
62.00
-61.00
-11.00
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
Month
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Debtor Days
10
10
16
15
8
6
8
Inventory Days
Days Payable
Cash Conversion Cycle
10
10
16
15
8
6
8
Working Capital Days
-12
-282
-239
-498
-891
-551
-496
ROCE %
24%
22%
25%
32%
23%
35%
Financial Efficiency Indicators Chart
Share Holding Pattern
Month
Jun 2021
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Mar 2024
Promoters
31.41%
31.38%
31.34%
31.30%
31.29%
31.28%
31.21%
31.14%
31.13%
31.11%
30.97%
30.91%
FIIs
16.08%
16.30%
16.48%
16.57%
16.65%
16.57%
16.53%
16.48%
16.33%
13.59%
15.54%
15.18%
DIIs
4.26%
3.50%
3.12%
3.16%
3.20%
3.19%
3.17%
3.20%
3.24%
3.31%
3.29%
3.37%
Public
48.25%
48.82%
49.06%
48.97%
48.85%
48.94%
49.07%
49.16%
49.29%
51.99%
50.20%
50.55%
No. of Shareholders
42,690
53,405
57,430
58,629
61,625
61,613
62,170
62,751
64,424
62,407
64,307
70,003
Shareholding Pattern Chart
No. of Shareholders
This stock is not held by any mutual fund
ROCE Trend
EPS Trend
Key Financial Ratios
Month
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
FaceValue
2.00
2.00
2.00
2.00
2.00
Basic EPS (Rs.)
16.73
8.22
10.09
6.97
7.33
Diluted EPS (Rs.)
16.40
8.16
9.94
6.91
7.31
Cash EPS (Rs.)
20.37
10.36
12.15
8.78
9.05
Book Value[Excl.RevalReserv]/Share (Rs.)
58.09
44.18
38.88
31.94
27.52
Book Value[Incl.RevalReserv]/Share (Rs.)
58.09
44.18
38.88
31.94
27.52
Revenue From Operations / Share (Rs.)
70.20
44.25
40.55
26.11
22.65
PBDIT / Share (Rs.)
30.68
15.82
18.65
12.55
11.18
PBIT / Share (Rs.)
26.98
13.63
16.57
11.03
9.45
PBT / Share (Rs.)
22.17
11.16
13.23
9.39
9.43
Net Profit / Share (Rs.)
16.67
8.18
10.06
7.27
7.32
NP After MI And SOA / Share (Rs.)
16.64
8.19
10.07
7.27
7.32
PBDIT Margin (%)
43.69
35.74
46.00
48.05
49.34
PBIT Margin (%)
38.43
30.79
40.85
42.25
41.70
PBT Margin (%)
31.58
25.21
32.61
35.98
41.64
Net Profit Margin (%)
23.75
18.47
24.80
27.83
32.31
NP After MI And SOA Margin (%)
23.70
18.50
24.83
27.86
32.32
Return on Networth / Equity (%)
28.67
18.52
25.89
22.76
26.59
Return on Capital Employeed (%)
44.75
29.30
40.50
33.52
31.09
Return On Assets (%)
6.50
4.77
5.06
6.21
9.61
Long Term Debt / Equity (X)
0.00
0.00
0.00
0.00
0.06
Total Debt / Equity (X)
0.64
0.35
0.51
0.30
0.52
Asset Turnover Ratio (%)
0.32
0.22
0.23
0.24
0.24
Current Ratio (X)
1.22
1.23
1.14
1.14
1.22
Quick Ratio (X)
1.22
1.23
1.14
1.14
1.21
Dividend Payout Ratio (NP) (%)
18.01
36.55
29.78
13.74
27.28
Dividend Payout Ratio (CP) (%)
14.74
28.85
24.66
11.37
22.07
Earning Retention Ratio (%)
81.99
63.45
70.22
86.26
72.72
Cash Earning Retention Ratio (%)
85.26
71.15
75.34
88.63
77.93
Interest Coverage Ratio (X)
6.38
6.40
5.58
7.66
3.50
Interest Coverage Ratio (Post Tax) (X)
4.47
4.31
4.01
5.44
2.29
Enterprise Value (Cr.)
464.22
-823.88
-438.91
31.62
423.87
EV / Net Operating Revenue (X)
0.21
-0.60
-0.35
0.03
0.58
EV / EBITDA (X)
0.49
-1.70
-0.77
0.08
1.19
MarketCap / Net Operating Revenue (X)
1.75
1.13
2.19
1.79
1.37
Retention Ratios (%)
81.98
63.44
70.21
86.25
72.71
Price / BV (X)
2.11
1.13
2.28
1.46
1.13
Price / Net Operating Revenue (X)
1.75
1.13
2.19
1.79
1.37
EarningsYield
0.13
0.16
0.11
0.15
0.23
Profitability Ratios (%)
Liquidity Ratios
Liquidity Ratios (%)
Interest Coverage Ratios (%)
Valuation Ratios
Fair Value
Fair Value: ₹298.78
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.
Overvalued: 6.04% compared to the current price ₹318.00
Intrinsic Value: 323.66
Calculation basis:
Fair 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.
Undervalued: 1.78% compared to the current price ₹318.00
Last 5 Year EPS CAGR: 8.33%
*Investments are subject to market risks
Strength and Weakness
Strength
Weakness
The stock has a high average ROCE of 23.00%, which is a positive sign.
The stock has a low average Working Capital Days of -424.14, which is a positive sign.
The company has higher reserves (1,012.14 cr) compared to borrowings (693.43 cr), indicating strong financial stability.
The company has shown consistent growth in sales (486.43 cr) and profit (329.57 cr) over the years.
The stock has a high average Cash Conversion Cycle of 10.43, 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 IIFL Securities Ltd:
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.
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.
ROE%: 28.67% (Industry Average ROE: 0%)
ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
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.
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.
Stock P/E: 15.8 (Industry average Stock P/E: 0)
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.
Total Debt / Equity: 0.64
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
IIFL Securities Ltd. is a Public Limited Listed company incorporated on 21/03/1996 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L99999MH1996PLC132983 and registration number is 132983. Currently Company is involved in the business activities of Activities auxiliary to financial service activities. Company’s Total Operating Revenue is Rs. 1060.48 Cr. and Equity Capital is Rs. 60.79 Cr. for the Year ended 31/03/2022.
INDUSTRY
ADDRESS
CONTACT
Finance & Investments
IIFL House, Sun Infotech Park, Thane Maharashtra 400604
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 IIFL Securities 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
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