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Last Updated on: 17 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 517370 | NSE: INCAP

Incap Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 17, 2024, 8:55 pm

Market Cap 51.7 Cr.
Current Price 101
High / Low123/42.4
Stock P/E64.7
Book Value 32.6
Dividend Yield0.99 %
ROCE6.17 %
ROE4.12 %
Face Value 10.0
PEG Ratio9.71

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

View Share Price Target for Incap Ltd

Competitors of Incap Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Incap Ltd 51.7 Cr. 101123/42.464.7 32.60.99 %6.17 %4.12 % 10.0
Gujarat Poly Electronics Ltd 79.5 Cr. 93.0146/57.136.5 12.10.00 %10.2 %26.3 % 10.0
Cosmo Ferrites Ltd 336 Cr. 279357/141 22.10.00 %5.16 %5.18 % 10.0
BCC Fuba India Ltd 128 Cr. 83.9112/47.538.1 13.90.00 %15.4 %20.8 % 10.0
PG Electroplast Ltd 16,450 Cr. 629710/14685.8 43.80.03 %18.7 %18.9 % 1.00
Industry Average3,724.71 Cr1,023.4459.53148.360.22%10.03%20.94%8.30

All Competitor Stocks of Incap Ltd

Quarterly Result

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Sales4.986.966.825.995.583.735.764.886.623.913.964.667.09
Expenses4.456.597.355.745.173.396.324.666.133.584.394.316.48
Operating Profit0.530.37-0.530.250.410.34-0.560.220.490.33-0.430.350.61
OPM %10.64%5.32%-7.77%4.17%7.35%9.12%-9.72%4.51%7.40%8.44%-10.86%7.51%8.60%
Other Income0.020.031.110.100.030.020.880.060.04-0.020.800.000.00
Interest0.050.040.050.040.050.050.050.050.060.13-0.060.030.07
Depreciation0.110.110.110.100.100.100.100.080.080.080.150.090.09
Profit before tax0.390.250.420.210.290.210.170.150.390.100.280.230.45
Tax %0.00%0.00%85.71%0.00%0.00%0.00%135.29%0.00%0.00%0.00%89.29%0.00%0.00%
Net Profit0.390.250.070.210.290.22-0.050.150.390.100.020.230.45
EPS in Rs0.760.490.140.410.560.43-0.100.290.760.190.040.450.88

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales35.1840.1546.0030.0628.5728.3720.5838.3320.9123.1621.0619.3619.62
Expenses32.1436.6342.9526.8124.6625.0119.4237.6120.8022.5420.5918.7418.76
Operating Profit3.043.523.053.253.913.361.160.720.110.620.470.620.86
OPM %8.64%8.77%6.63%10.81%13.69%11.84%5.64%1.88%0.53%2.68%2.23%3.20%4.38%
Other Income0.150.441.190.350.381.051.050.891.221.181.020.880.78
Interest1.260.750.600.710.440.150.390.560.180.200.210.200.17
Depreciation0.910.910.560.380.300.370.450.460.470.440.390.380.41
Profit before tax1.022.303.082.513.553.891.370.590.681.160.890.921.06
Tax %37.25%33.48%36.04%38.65%33.52%26.74%29.20%27.12%13.24%31.03%25.84%27.17%
Net Profit0.641.531.981.532.362.850.970.440.580.800.660.670.80
EPS in Rs1.252.983.862.984.605.551.890.861.131.561.291.311.56
Dividend Payout %0.00%33.53%25.91%33.53%21.74%18.00%52.89%0.00%88.45%64.12%77.73%76.57%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)139.06%29.41%-22.73%54.25%20.76%-65.96%-54.64%31.82%37.93%-17.50%1.52%
Change in YoY Net Profit Growth (%)0.00%-109.65%-52.14%76.98%-33.49%-86.73%11.33%86.46%6.11%-55.43%19.02%

Incap Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:-7%
5 Years:-1%
3 Years:-3%
TTM:-7%
Compounded Profit Growth
10 Years:-8%
5 Years:-7%
3 Years:9%
TTM:13%
Stock Price CAGR
10 Years:17%
5 Years:33%
3 Years:47%
1 Year:115%
Return on Equity
10 Years:9%
5 Years:4%
3 Years:4%
Last Year:4%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital5.135.135.135.135.135.135.135.135.135.135.135.135.13
Reserves2.473.404.765.687.429.659.9810.2210.3510.6910.8410.9411.62
Borrowings6.121.454.661.370.150.410.880.681.831.881.192.759.47
Other Liabilities9.0516.9120.508.696.527.208.5819.3719.0411.6410.938.6114.31
Total Liabilities22.7726.8935.0520.8719.2222.3924.5735.4036.3529.3428.0927.4340.53
Fixed Assets3.404.495.255.494.284.474.954.654.193.493.673.433.26
CWIP0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments0.000.000.000.000.000.002.002.002.002.002.212.212.57
Other Assets19.3722.4029.8015.3814.9417.9217.6228.7530.1623.8522.2121.7934.70
Total Assets22.7726.8935.0520.8719.2222.3924.5735.4036.3529.3428.0927.4340.53

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1.179.64-2.031.715.303.62-1.7610.812.84-3.83-1.04-6.06
Cash from Investing Activity +0.05-1.61-0.25-0.321.260.09-2.420.710.861.430.230.67
Cash from Financing Activity +-1.44-5.452.03-4.52-2.41-0.50-0.47-0.700.49-0.63-1.380.87
Net Cash Flow-0.222.58-0.25-3.124.163.21-4.6510.824.19-3.02-2.19-4.52

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-3.082.07-1.611.883.762.950.280.04-1.72-1.26-0.72-2.13

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 Days105.1086.36102.28103.0979.9880.4188.3267.99129.8781.01107.80184.95
Inventory Days60.47102.81152.58109.5271.5863.8195.5253.0576.4567.4560.9381.02
Days Payable57.5236.6653.1065.76105.71129.56192.49640.07602.23290.83275.87195.91
Cash Conversion Cycle108.05152.51201.76146.8545.8514.66-8.64-519.03-395.92-142.37-107.1470.06
Working Capital Days99.5020.9149.8382.0839.0926.501.60-85.80-122.02-43.34-21.1498.23
ROCE %16.81%25.74%30.00%24.09%31.27%28.97%11.29%7.18%4.62%6.80%5.91%6.17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters66.50%66.50%66.50%66.53%66.62%66.68%66.73%66.82%66.89%66.91%66.91%66.91%
Public33.50%33.50%33.50%33.47%33.37%33.31%33.27%33.18%33.10%33.08%33.08%33.08%
No. of Shareholders2,5992,6452,6542,7392,7722,7392,7292,9242,9393,4103,3873,440

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)1.301.291.561.140.86
Diluted EPS (Rs.)1.301.291.561.140.86
Cash EPS (Rs.)2.052.052.422.061.74
Book Value[Excl.RevalReserv]/Share (Rs.)31.3131.1230.8330.1629.91
Book Value[Incl.RevalReserv]/Share (Rs.)31.3131.1230.8330.1629.91
Dividend / Share (Rs.)1.001.001.001.000.00
Revenue From Operations / Share (Rs.)37.7241.0245.1240.7374.66
PBDIT / Share (Rs.)2.882.863.422.523.03
PBIT / Share (Rs.)2.132.092.571.602.14
PBT / Share (Rs.)1.791.742.251.331.17
Net Profit / Share (Rs.)1.301.291.561.140.85
PBDIT Margin (%)7.626.967.596.194.05
PBIT Margin (%)5.645.105.693.932.86
PBT Margin (%)4.754.234.993.261.56
Net Profit Margin (%)3.453.143.462.791.14
Return on Networth / Equity (%)4.164.155.073.772.86
Return on Capital Employeed (%)6.546.407.654.856.79
Return On Assets (%)2.442.362.731.601.23
Long Term Debt / Equity (X)0.020.030.060.070.03
Total Debt / Equity (X)0.170.070.110.110.04
Asset Turnover Ratio (%)0.690.730.700.581.28
Current Ratio (X)2.021.951.931.531.20
Quick Ratio (X)1.751.771.741.421.12
Inventory Turnover Ratio (X)4.445.154.474.773.61
Dividend Payout Ratio (NP) (%)0.0077.3963.9687.790.00
Dividend Payout Ratio (CP) (%)0.0048.6741.3048.570.00
Earning Retention Ratio (%)0.0022.6136.0412.210.00
Cash Earning Retention Ratio (%)0.0051.3358.7051.430.00
Interest Coverage Ratio (X)8.517.9910.919.223.10
Interest Coverage Ratio (Post Tax) (X)4.864.615.985.161.88
Enterprise Value (Cr.)28.116.226.67-6.11-0.80
EV / Net Operating Revenue (X)1.450.290.28-0.29-0.02
EV / EBITDA (X)19.034.243.79-4.72-0.51
MarketCap / Net Operating Revenue (X)1.730.830.840.470.31
Retention Ratios (%)0.0022.6036.0312.200.00
Price / BV (X)2.081.111.240.640.79
Price / Net Operating Revenue (X)1.730.830.840.470.31
EarningsYield0.010.030.040.050.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Incap Ltd as of November 17, 2024 is: 87.76

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 17, 2024, Incap Ltd is Overvalued by 13.11% compared to the current share price 101.00

Intrinsic Value of Incap Ltd as of November 17, 2024 is: 93.61

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 17, 2024, Incap Ltd is Overvalued by 7.32% compared to the current share price 101.00

Last 5 Year EPS CAGR: 6.66%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.57%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 12.12, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -36.11, which is a positive sign.
  4. The company has higher reserves (8.31 cr) compared to borrowings (2.53 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (28.57 cr) and profit (1.77 cr) over the years.

    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 Incap Ltd:
      1. Net Profit Margin: 3.45%
        • 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: 6.54% (Industry Average ROCE: 10.03%)
        • 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%: 4.16% (Industry Average ROE: 20.94%)
        • 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): 4.86
        • 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: 1.75
        • 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: 64.7 (Industry average Stock P/E: 59.53)
        • 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: 0.17
        • 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

    Incap Ltd. is a Public Limited Listed company incorporated on 21/05/1990 and has its registered office in the State of Andhra Pradesh, India. Company’s Corporate Identification Number(CIN) is L32101AP1990PLC011311 and registration number is 011311. Currently Company is involved in the business activities of Manufacture of electronic capacitors, resistors, chokes, coils, trasformers (electronic) and similar components. Company’s Total Operating Revenue is Rs. 23.16 Cr. and Equity Capital is Rs. 5.13 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    Electronics - Equipment/Components1-58, Nidamanuru, Vijayawada Andhra Pradesh 521104investorsincap@gmail.com
    http://www.incaplimited.in
    Management
    NamePosition Held
    Mr. C Bhagavantha RaoExecutive Chairman & CFO
    Mrs. C NeelimaManaging Director
    Mr. C RakeshIndependent Director
    Mr. P Ram RaoDirector
    Mrs. P HimabinduDirector

    FAQ

    What is the latest intrinsic value of Incap Ltd?

    The latest intrinsic value of Incap Ltd as on 16 November 2024 is ₹87.76, which is 13.11% lower than the current market price of ₹101.00.

    What is the Market Cap of Incap Ltd?

    The Market Cap of Incap Ltd is 51.7 Cr..

    What is the current Stock Price of Incap Ltd as on 16 November 2024?

    The current stock price of Incap Ltd as on 16 November 2024 is ₹101.

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

    In FY 2024, the High / Low of Incap Ltd stocks is 123/42.4.

    What is the Stock P/E of Incap Ltd?

    The Stock P/E of Incap Ltd is 64.7.

    What is the Book Value of Incap Ltd?

    The Book Value of Incap Ltd is 32.6.

    What is the Dividend Yield of Incap Ltd?

    The Dividend Yield of Incap Ltd is 0.99 %.

    What is the ROCE of Incap Ltd?

    The ROCE of Incap Ltd is 6.17 %.

    What is the ROE of Incap Ltd?

    The ROE of Incap Ltd is 4.12 %.

    What is the Face Value of Incap Ltd?

    The Face Value of Incap Ltd is 10.0.

    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 Incap 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