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Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

North Eastern Carrying Corporation Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 24, 2024, 9:19 pm

Market Cap 296 Cr.
Current Price 31.1
High / Low44.4/22.0
Stock P/E24.8
Book Value 22.6
Dividend Yield0.00 %
ROCE7.38 %
ROE5.37 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for North Eastern Carrying Corporation Ltd

Competitors of North Eastern Carrying Corporation Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Flomic Global Logistics Ltd 118 Cr. 64.788.0/61.027.7 24.10.00 %8.64 %5.18 % 10.0
DJ Mediaprint & Logistics Ltd 395 Cr. 122142/42.756.6 11.00.05 %19.0 %16.2 % 10.0
Delhivery Ltd 25,663 Cr. 346488/326816 1250.00 %1.73 %2.94 % 1.00
Chartered Logistics Ltd 98.2 Cr. 9.8912.6/4.7938.1 5.270.00 %4.43 %0.36 % 1.00
Cargotrans Maritime Ltd 31.4 Cr. 77.099.0/50.817.8 36.90.00 %18.7 %14.0 % 10.0
Industry Average5,195.33 Cr223.34119.6766.340.35%9.98%15.26%6.88

All Competitor Stocks of North Eastern Carrying Corporation Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales62.5675.4570.4154.8055.0470.1782.0978.3872.1373.3883.8573.8485.59
Expenses60.0070.7467.8050.5351.6265.4478.1173.5566.9467.6279.0969.0479.15
Operating Profit2.564.712.614.273.424.733.984.835.195.764.764.806.44
OPM %4.09%6.24%3.71%7.79%6.21%6.74%4.85%6.16%7.20%7.85%5.68%6.50%7.52%
Other Income0.111.640.080.010.020.320.000.010.370.040.280.110.10
Interest1.581.671.121.961.501.461.751.901.912.372.252.032.57
Depreciation0.261.390.610.940.401.780.710.710.700.720.790.780.88
Profit before tax0.833.290.961.381.541.811.522.232.952.712.002.103.09
Tax %0.00%9.73%25.00%16.67%26.62%30.39%36.84%30.04%27.80%58.30%25.50%44.76%18.77%
Net Profit0.832.960.721.141.141.260.961.552.131.121.491.152.52
EPS in Rs0.090.310.080.120.120.130.100.160.220.120.160.120.27

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
Sales477541572531538548384343376231250306317
Expenses460522550511518528369328358222235286295
Operating Profit1719212021201615189152022
OPM %4%3%4%4%4%4%4%4%5%4%6%7%7%
Other Income0001111112001
Interest67991097677689
Depreciation3343333333433
Profit before tax88999967916910
Tax %34%36%32%35%37%38%35%36%27%-21%25%39%
Net Profit5566664561466
EPS in Rs0.550.550.660.580.590.590.410.470.670.150.450.600.67
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)0.00%20.00%0.00%0.00%0.00%-33.33%25.00%20.00%-83.33%300.00%50.00%
Change in YoY Net Profit Growth (%)0.00%20.00%-20.00%0.00%0.00%-33.33%58.33%-5.00%-103.33%383.33%-250.00%

North Eastern Carrying Corporation 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:-5%
5 Years:0%
3 Years:13%
TTM:11%
Compounded Profit Growth
10 Years:3%
5 Years:13%
3 Years:78%
TTM:102%
Stock Price CAGR
10 Years:-8%
5 Years:45%
3 Years:20%
1 Year:0%
Return on Equity
10 Years:5%
5 Years:5%
3 Years:5%
Last Year:5%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:57 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital505050505050505050505095100
Reserves51217232832374345495599115
Borrowings65737478835472768610111910395
Other Liabilities15182216151823301618202020
Total Liabilities136153163167177154182199196218243317330
Fixed Assets1515151818192017141314139
CWIP0000000000000
Investments0000000000055
Other Assets121138148149158135162183183205230299316
Total Assets136153163167177154182199196218243317330

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-1512-234-13-4-11-10-14-46
Cash from Investing Activity +-2-2-7-3-3-4-00-2-3-6
Cash from Financing Activity +17245-3019410151865
Net Cash Flow00-0011-002013

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow17.00-46.00-52.00-54.00-57.00-63.00-38.00-57.00-58.00-77.00-86.00-99.00

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 Days677378818493117112165154138131
Inventory Days
Days Payable
Cash Conversion Cycle677378818493117112165154138131
Working Capital Days6672818590103136139250259240279
ROCE %14%14%12%13%11%9%8%10%5%6%8%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters52.67%52.67%52.67%52.67%52.68%52.68%52.68%52.68%52.68%52.68%52.68%52.30%
FIIs0.00%0.39%0.09%0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.15%0.12%
Public47.32%46.94%47.23%47.33%47.32%47.32%47.33%47.33%47.32%47.29%47.17%47.58%
No. of Shareholders15,08915,68219,94117,89117,79217,49317,59517,67018,70731,25433,08236,113

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 17Mar 16Mar 15Mar 14Mar 13
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)1.121.121.101.251.98
Diluted EPS (Rs.)1.121.121.101.251.98
Cash EPS (Rs.)1.651.731.761.980.00
Book Value[Excl.RevalReserv]/Share (Rs.)15.6314.5213.4012.290.00
Book Value[Incl.RevalReserv]/Share (Rs.)15.6314.5213.4012.290.00
Revenue From Operations / Share (Rs.)109.17107.25105.71113.900.00
PBDIT / Share (Rs.)3.944.124.014.100.00
PBIT / Share (Rs.)3.403.513.353.370.00
PBT / Share (Rs.)1.791.781.701.830.00
Net Profit / Share (Rs.)1.121.121.101.250.00
NP After MI And SOA / Share (Rs.)1.121.121.101.250.00
PBDIT Margin (%)3.603.833.793.603.37
PBIT Margin (%)3.113.263.162.962.72
PBT Margin (%)1.641.661.601.601.50
Net Profit Margin (%)1.021.041.041.090.96
NP After MI And SOA Margin (%)1.021.041.041.090.96
Return on Networth / Equity (%)7.137.738.2410.160.00
Return on Capital Employeed (%)19.9822.5823.6827.000.00
Return On Assets (%)3.163.373.394.100.00
Long Term Debt / Equity (X)0.080.060.050.010.00
Total Debt / Equity (X)1.061.071.101.180.00
Asset Turnover Ratio (%)3.193.263.360.000.00
Current Ratio (X)1.681.621.561.490.00
Quick Ratio (X)1.681.621.561.490.00
Interest Coverage Ratio (X)2.452.392.432.662.23
Interest Coverage Ratio (Post Tax) (X)1.701.651.671.811.79
Enterprise Value (Cr.)380.47303.70453.80406.700.00
EV / Net Operating Revenue (X)0.690.560.850.710.00
EV / EBITDA (X)19.2514.7022.5619.740.00
MarketCap / Net Operating Revenue (X)0.540.420.720.580.00
Price / BV (X)3.833.145.705.470.00
Price / Net Operating Revenue (X)0.540.420.720.580.00
EarningsYield0.010.020.010.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of North Eastern Carrying Corporation Ltd as of November 25, 2024 is: 30.70

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 25, 2024, North Eastern Carrying Corporation Ltd is Overvalued by 1.29% compared to the current share price 31.10

Intrinsic Value of North Eastern Carrying Corporation Ltd as of November 25, 2024 is: 30.70

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 25, 2024, North Eastern Carrying Corporation Ltd is Overvalued by 1.29% compared to the current share price 31.10

Last 5 Year EPS CAGR: 0.00%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (416.46 cr) and profit (7.69 cr) over the years.
  1. The stock has a low average ROCE of 9.75%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 150.00, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 107.75, which may not be favorable.
  4. The company has higher borrowings (83.00) compared to reserves (43.08), which may suggest financial risk.

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 North Eastern Carrying Corporation Ltd:
    1. Net Profit Margin: 1.02%
      • 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: 19.98% (Industry Average ROCE: 9.98%)
      • 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%: 7.13% (Industry Average ROE: 15.26%)
      • 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): 1.7
      • 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: 1.68
      • 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: 24.8 (Industry average Stock P/E: 119.67)
      • 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: 1.06
      • 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

North Eastern Carrying Corporation Ltd. is a Public Limited Listed company incorporated on 05/12/1984 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L51909DL1984PLC019485 and registration number is 019485. Currently Company is involved in the business activities of Other land transport. Company’s Total Operating Revenue is Rs. 250.43 Cr. and Equity Capital is Rs. 50.20 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Logistics - Warehousing/Supply Chain/OthersNECC House, 9062/47, Ram Bagh Road, Delhi Delhi 110006cs@neccgroup.com
http://www.neccgroup.com
Management
NamePosition Held
Mr. Sunil Kumar JainChairman & Managing Director
Mr. Utkarsh JainWhole Time Director
Mr. Manoj Kumar JainInd. Non-Executive Director
Mr. Saurav UpadhyayInd. Non-Executive Director
Mr. Ashutosh Kumar DubeyInd. Non-Executive Director
Ms. Priya SinghInd. Non-Executive Director

FAQ

What is the latest intrinsic value of North Eastern Carrying Corporation Ltd?

The latest intrinsic value of North Eastern Carrying Corporation Ltd as on 25 November 2024 is ₹30.70, which is 1.29% lower than the current market price of ₹31.10.

What is the Market Cap of North Eastern Carrying Corporation Ltd?

The Market Cap of North Eastern Carrying Corporation Ltd is 296 Cr..

What is the current Stock Price of North Eastern Carrying Corporation Ltd as on 25 November 2024?

The current stock price of North Eastern Carrying Corporation Ltd as on 25 November 2024 is 31.1.

What is the High / Low of North Eastern Carrying Corporation Ltd stocks in FY 2024?

In FY 2024, the High / Low of North Eastern Carrying Corporation Ltd stocks is 44.4/22.0.

What is the Stock P/E of North Eastern Carrying Corporation Ltd?

The Stock P/E of North Eastern Carrying Corporation Ltd is 24.8.

What is the Book Value of North Eastern Carrying Corporation Ltd?

The Book Value of North Eastern Carrying Corporation Ltd is 22.6.

What is the Dividend Yield of North Eastern Carrying Corporation Ltd?

The Dividend Yield of North Eastern Carrying Corporation Ltd is 0.00 %.

What is the ROCE of North Eastern Carrying Corporation Ltd?

The ROCE of North Eastern Carrying Corporation Ltd is 7.38 %.

What is the ROE of North Eastern Carrying Corporation Ltd?

The ROE of North Eastern Carrying Corporation Ltd is 5.37 %.

What is the Face Value of North Eastern Carrying Corporation Ltd?

The Face Value of North Eastern Carrying Corporation 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 North Eastern Carrying Corporation 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