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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
Stock Ticker - BSE: 543330 | NSE: DEVYANI

Devyani International Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 8:44 pm

Market Cap 19,461 Cr.
Current Price 161
High / Low223/142
Stock P/E1,288
Book Value 9.66
Dividend Yield0.00 %
ROCE8.73 %
ROE4.92 %
Face Value 1.00
PEG Ratio84.67

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

View Share Price Target for Devyani International Ltd

Competitors of Devyani International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Howard Hotels Ltd 22.8 Cr. 25.033.5/15.2 10.40.00 %9.86 %8.53 % 10.0
HS India Ltd 25.5 Cr. 15.720.8/12.519.6 19.00.00 %6.90 %4.47 % 10.0
Gujarat Hotels Ltd 85.1 Cr. 225261/15118.8 1191.11 %13.9 %11.2 % 10.0
Graviss Hospitality Ltd 308 Cr. 43.664.7/35.123.2 26.50.00 %1.80 %1.40 % 2.00
Goel Food Products Ltd 42.1 Cr. 22.378.0/21.310.8 11.92.24 %18.9 %25.4 % 10.0
Industry Average9,503.48 Cr473.94112.5891.790.40%12.66%15.98%6.76

All Competitor Stocks of Devyani International Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales3535166245917057477917558478198431,0471,222
Expenses2963884774515405816176047216656979171,006
Operating Profit57128148140165166174151126154146130216
OPM %16%25%24%24%23%22%22%20%15%19%17%12%18%
Other Income-1045-09-7-1117-751410
Interest32333032333538424042485763
Depreciation4853566564667178808693126132
Profit before tax-3347674277596541131910-3831
Tax %-0%1%1%-79%3%3%-10%-45%112%-88%48%29%27%
Net Profit-3347667675577160-2365-4922
EPS in Rs-0.250.380.520.630.610.490.590.500.100.280.08-0.060.25

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,0121,0481,1111,3111,5161,1352,0842,9983,5563,932
Expenses1,0131,0081,0151,1061,2549451,6082,3412,9023,285
Operating Profit-13996205262189476657654647
OPM %-0%4%9%16%17%17%23%22%18%16%
Other Income-0823422131-312-7121
Interest438834137161155129149189210
Depreciation8513755203223229221278391437
Profit before tax-129-17830-93-120-64123242421
Tax %1%1%-3%1%2%-2%-26%-9%363%
Net Profit-130-18031-94-121-63155263-1014
EPS in Rs-11.98-11.314.33-7.46-11.46-0.481.302.200.390.55
Dividend Payout %0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-38.46%117.22%-403.23%-28.72%47.93%346.03%69.68%-103.80%
Change in YoY Net Profit Growth (%)0.00%155.68%-520.45%374.50%76.66%298.10%-276.35%-173.48%

Devyani International Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:22%
3 Years:46%
TTM:35%
Compounded Profit Growth
10 Years:%
5 Years:20%
3 Years:36%
TTM:-92%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:1%
1 Year:-11%
Return on Equity
10 Years:%
5 Years:%
3 Years:22%
Last Year:5%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 4:40 pm

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital106106106106106115120120121121
Reserves70-1933-176-295-25668509351,045
Borrowings3483063714881,8321,3361,2541,5652,9063,099
Other Liabilities1962022181,3902402193224509711,067
Total Liabilities7205967281,8071,8841,6682,2632,9854,9325,332
Fixed Assets4914064451,5781,6351,3921,7562,4274,2164,561
CWIP3815561214147151110
Investments0000000000
Other Assets192174226218235262500543705761
Total Assets7205967281,8071,8841,6682,2632,9854,9325,332

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +9091278301240451637592
Cash from Investing Activity +-67-140-165-91-355-375-349-1,377
Cash from Financing Activity +-3256-130-223142-58-283889
Net Cash Flow-97-18-1327175105

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-349.00-267.00-275.00-283.00261.00188.00475.00656.00652.00

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 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days566645445
Inventory Days453948525766525245
Days Payable12712913912812917111998130
Cash Conversion Cycle-77-85-84-70-68-100-64-42-79
Working Capital Days-31-67-51-46-60-63-6-25-29
ROCE %-19%15%7%6%2%16%18%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters62.91%62.91%62.80%62.80%62.80%62.80%62.78%62.76%62.74%62.74%62.74%62.73%
FIIs7.86%7.82%6.90%6.87%8.30%8.82%9.77%12.05%13.34%12.47%12.44%11.68%
DIIs4.82%4.92%5.75%6.26%7.47%7.88%9.66%8.74%8.23%8.52%12.20%14.19%
Public24.40%24.35%24.55%24.07%21.43%20.51%17.78%16.46%15.69%16.27%12.64%11.41%
No. of Shareholders2,49,3752,53,8982,73,6462,70,7112,96,1922,95,3333,06,3552,71,6892,64,7142,95,9033,34,0753,01,376

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Growth Fund16,604,9410.92255.724,826,2482024-11-21244.05%
Nippon India Focused Equity Fund10,070,0861.96155.084,826,2482024-11-21108.65%
Nippon India Multi Cap Fund9,371,7350.45144.324,826,2482024-11-2194.18%
Nippon India Flexi Cap Fund6,091,4501.3393.814,826,2482024-11-2126.22%
Sundaram Mid Cap Fund5,147,3460.7279.274,826,2482024-11-216.65%
Sundaram Mid Cap Fund - Institutional Plan5,147,3460.7279.274,826,2482024-11-216.65%
Invesco India Contra Fund4,518,8820.5175.174,826,2482024-11-21-6.37%
Aditya Birla Sun Life ELSS Tax Saver Fund4,826,2480.4874.324,826,2482024-11-210%
Axis Flexi Cap Fund3,000,0000.4249.914,826,2482024-11-21-37.84%
Aditya Birla Sun Life Equity Advantage Fund3,109,6470.8347.894,826,2482024-11-21-35.57%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.0010.00
Basic EPS (Rs.)0.392.201.32-0.55-11.44
Diluted EPS (Rs.)0.392.191.32-0.55-11.44
Cash EPS (Rs.)3.114.493.121.449.60
Book Value[Excl.RevalReserv]/Share (Rs.)11.187.995.660.62-21.50
Book Value[Incl.RevalReserv]/Share (Rs.)11.187.995.660.62-21.50
Revenue From Operations / Share (Rs.)29.4924.8817.309.84142.83
PBDIT / Share (Rs.)5.635.714.062.1125.46
PBIT / Share (Rs.)2.443.402.220.114.42
PBT / Share (Rs.)0.032.011.02-0.71-7.24
Net Profit / Share (Rs.)-0.082.181.29-0.54-11.44
NP After MI And SOA / Share (Rs.)0.392.201.30-0.47-11.46
PBDIT Margin (%)19.0922.9523.4421.4117.82
PBIT Margin (%)8.2713.6512.821.193.09
PBT Margin (%)0.108.075.90-7.26-5.07
Net Profit Margin (%)-0.278.757.44-5.55-8.00
NP After MI And SOA Margin (%)1.328.837.50-4.86-8.02
Return on Networth / Equity (%)4.4827.3522.77-48.520.00
Return on Capital Employeed (%)7.3116.6914.501.083.59
Return On Assets (%)0.958.866.90-3.30-6.45
Long Term Debt / Equity (X)0.680.070.153.09-1.77
Total Debt / Equity (X)0.860.070.193.28-2.25
Asset Turnover Ratio (%)0.891.140.960.570.73
Current Ratio (X)0.530.570.790.390.24
Quick Ratio (X)0.380.330.590.240.12
Inventory Turnover Ratio (X)8.088.307.684.706.83
Interest Coverage Ratio (X)3.634.673.851.591.71
Interest Coverage Ratio (Post Tax) (X)1.502.922.360.090.28
Enterprise Value (Cr.)19164.3117403.7521180.950.000.00
EV / Net Operating Revenue (X)5.395.8110.160.000.00
EV / EBITDA (X)28.2225.2943.350.000.00
MarketCap / Net Operating Revenue (X)5.105.8110.130.000.00
Price / BV (X)17.2017.9830.770.000.00
Price / Net Operating Revenue (X)5.105.8110.130.000.00
EarningsYield0.000.010.010.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Devyani International Ltd as of November 22, 2024 is: 624.39

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, Devyani International Ltd is Undervalued by 287.82% compared to the current share price 161.00

Intrinsic Value of Devyani International Ltd as of November 22, 2024 is: 719.37

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, Devyani International Ltd is Undervalued by 346.81% compared to the current share price 161.00

Last 5 Year EPS CAGR: 15.21%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -42.00, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -74.33, which is a positive sign.
  1. The stock has a low average ROCE of 6.00%, which may not be favorable.
  2. The company has higher borrowings (1,350.50) compared to reserves (300.70), which may suggest financial risk.
  3. The company has not shown consistent growth in sales (1.60) and profit (-16.40).

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 Devyani International Ltd:
    1. Net Profit Margin: -0.27%
      • 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: 7.31% (Industry Average ROCE: 12.66%)
      • 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%: 4.48% (Industry Average ROE: 15.98%)
      • 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): 1.5
      • 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: 0.38
      • 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: 1 (Industry average Stock P/E: 112.58)
      • 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: 0.86
      • 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

Devyani International Ltd. is a Public Limited Listed company incorporated on 13/12/1991 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L15135DL1991PLC046758 and registration number is 046758. Currently Company is involved in the business activities of Event catering and other food service activities. Company’s Total Operating Revenue is Rs. 1853.27 Cr. and Equity Capital is Rs. 120.47 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Hotels, Resorts & RestaurantsF-2/7, Okhla Industrial Area, New Delhi Delhi 110020companysecretary@dil-rjcorp.com
http://www.dil-rjcorp.com
Management
NamePosition Held
Mr. Ravi JaipuriaNon Executive Chairman
Mr. Manish DawarWholeTime Director & CFO
Mr. Virag JoshiWhole Time Director
Mr. Varun JaipuriaNon Exe.Non Ind.Director
Mr. Raj Pal GandhiNon Exe.Non Ind.Director
Mr. Pradeep SardanaInd. Non-Executive Director
Mr. Prashant PurkerInd. Non-Executive Director
Dr. Naresh TrehanInd. Non-Executive Director
Dr. Girish Kumar AhujaInd. Non-Executive Director
Dr. Ravi GuptaInd. Non-Executive Director
Ms. Rashmi DhariwalInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Devyani International Ltd?

The latest intrinsic value of Devyani International Ltd as on 21 November 2024 is ₹624.39, which is 287.82% higher than the current market price of ₹161.00.

What is the Market Cap of Devyani International Ltd?

The Market Cap of Devyani International Ltd is 19,461 Cr..

What is the current Stock Price of Devyani International Ltd as on 21 November 2024?

The current stock price of Devyani International Ltd as on 21 November 2024 is ₹161.

What is the High / Low of Devyani International Ltd stocks in FY 2024?

In FY 2024, the High / Low of Devyani International Ltd stocks is 223/142.

What is the Stock P/E of Devyani International Ltd?

The Stock P/E of Devyani International Ltd is 1,288.

What is the Book Value of Devyani International Ltd?

The Book Value of Devyani International Ltd is 9.66.

What is the Dividend Yield of Devyani International Ltd?

The Dividend Yield of Devyani International Ltd is 0.00 %.

What is the ROCE of Devyani International Ltd?

The ROCE of Devyani International Ltd is 8.73 %.

What is the ROE of Devyani International Ltd?

The ROE of Devyani International Ltd is 4.92 %.

What is the Face Value of Devyani International Ltd?

The Face Value of Devyani International Ltd is 1.00.

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 Devyani International 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