Accel Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 26, 2024, 9:23 pm

Market Cap	128 Cr.
Current Price	22.2
High / Low	35.5/18.6
Stock P/E	32.6
Book Value	11.4
Dividend Yield	1.35 %
ROCE	9.52 %
ROE	6.23 %
Face Value	2.00
PEG Ratio	2.72

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Accel Ltd

Competitors of Accel Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Visesh Infotecnics Ltd	125 Cr.	0.33	0.95/0.33		1.14	0.00 %	0.88 %	0.82 %	1.00
Mudunuru Ltd	26.5 Cr.	8.50	15.6/6.35		0.34	0.00 %	72.9 %	374 %	2.00
Naapbooks Ltd	135 Cr.	149	159/32.3	57.8	20.0	%	17.4 %	13.6 %
IDream Film Infrastructure Company Ltd	1.41 Cr.	93.8	98.0/85.0		295	0.00 %	%	%	10.0
IB Infotech Enterprises Ltd	24.2 Cr.	189	245/113	31.8	16.8	0.53 %	69.9 %	50.5 %	10.0
Industry Average	39,604.21 Cr	786.98		96.29	123.26	0.61%	21.51%	61.86%	6.88

All Competitor Stocks of Accel Ltd

Quarterly Result

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	Jun 2024
Sales	22.08	27.81	29.54	32.23	31.78	34.49	41.07	49.30	36.65	39.06	41.51	49.87	39.38
Expenses	18.68	24.51	25.70	30.14	28.28	29.98	35.20	45.66	32.15	35.81	36.55	45.56	35.88
Operating Profit	3.40	3.30	3.84	2.09	3.50	4.51	5.87	3.64	4.50	3.25	4.96	4.31	3.50
OPM %	15.40%	11.87%	13.00%	6.48%	11.01%	13.08%	14.29%	7.38%	12.28%	8.32%	11.95%	8.64%	8.89%
Other Income	0.42	0.61	1.95	2.65	0.48	0.31	0.28	3.66	0.13	0.82	0.32	0.24	0.96
Interest	1.40	1.38	1.33	2.42	1.46	1.72	1.78	1.84	1.80	1.76	1.86	1.75	1.76
Depreciation	1.83	1.80	1.56	1.71	1.63	1.85	1.88	1.94	1.83	1.76	1.86	1.43	1.48
Profit before tax	0.59	0.73	2.90	0.61	0.89	1.25	2.49	3.52	1.00	0.55	1.56	1.37	1.22
Tax %	-94.92%	28.77%	13.10%	-180.33%	0.00%	23.20%	32.93%	119.60%	1.00%	40.00%	26.28%	37.23%	24.59%
Net Profit	1.14	0.52	2.53	1.70	0.89	0.97	1.67	-0.70	0.98	0.33	1.15	0.86	0.93
EPS in Rs	0.23	0.12	0.46	0.29	0.16	0.18	0.30	-0.12	0.18	0.07	0.21	0.16	0.18

Last Updated: October 7, 2024, 8:47 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 3:10 pm

Month	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	45	39	19	25	6	8	7	15	71	112	157	167	170
Expenses	44	39	23	24	10	12	10	19	68	99	138	149	154
Operating Profit	1	-0	-5	1	-4	-4	-3	-4	3	13	18	18	16
OPM %	3%	-0%	-25%	5%	-69%	-57%	-51%	-27%	4%	12%	12%	11%	9%
Other Income	7	1	9	2	3	12	10	1	6	6	4	1	2
Interest	2	4	2	2	1	1	0	1	4	7	7	7	7
Depreciation	3	2	3	4	2	2	2	1	6	7	7	7	7
Profit before tax	3	-5	-1	-4	-4	4	5	-6	-2	5	8	4	5
Tax %	41%	-1%	19%	0%	0%	0%	0%	0%	-48%	-22%	65%	26%
Net Profit	2	-5	-1	-4	-4	4	5	-6	-1	6	3	3	3
EPS in Rs	1.88	-4.65	-1.28	-3.52	-3.17	4.69	0.90	-0.97	-0.14	1.03	0.49	0.57	0.62
Dividend Payout %	0%	0%	0%	0%	0%	44%	0%	0%	0%	29%	61%	52%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2008-2009	2009-2010	2010-2011	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-350.00%	80.00%	-300.00%	200.00%	25.00%	-220.00%	83.33%	700.00%	-50.00%	0.00%
Change in YoY Net Profit Growth (%)	0.00%	430.00%	-380.00%	500.00%	-175.00%	-245.00%	303.33%	616.67%	-750.00%	50.00%

Accel Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2008-2009 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	90%
3 Years:	33%
TTM:	2%

Compounded Profit Growth
10 Years:	%
5 Years:	24%
3 Years:	41%
TTM:	70%

Stock Price CAGR
10 Years:	11%
5 Years:	29%
3 Years:	-2%
1 Year:	-1%

Return on Equity
10 Years:	%
5 Years:	1%
3 Years:	6%
Last Year:	6%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:23 pm

Month	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	11	11	11	11	11	11	11	11	11	11	12	12	12
Reserves	2	-3	-4	-7	22	28	53	48	68	78	51	54	54
Borrowings	21	31	27	25	6	12	6	25	72	71	70	74	71
Other Liabilities	8	9	5	10	18	7	3	7	49	40	51	51	47
Total Liabilities	43	49	39	39	57	57	73	91	201	200	184	190	183
Fixed Assets	12	16	21	17	17	13	44	46	89	78	91	91	86
CWIP	2	1	2	9	0	0	1	20	37	41	0	1	1
Investments	3	3	1	0	9	3	0	0	0	5	5	5	6
Other Assets	26	29	15	13	32	41	28	25	74	76	88	92	90
Total Assets	43	49	39	39	57	57	73	91	201	200	184	190	183

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-3	-0	9	9	-3	-17	4	-3	7	1	17	23
Cash from Investing Activity +	-5	-5	-2	-6	1	15	-12	-21	-58	-3	-8	-9
Cash from Financing Activity +	7	6	-7	-3	1	24	-3	16	54	-4	-8	-9
Net Cash Flow	-0	1	0	-1	-0	21	-11	-8	3	-5	1	6

Free Cash Flow

Month	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-20.00	-31.00	-32.00	-24.00	-10.00	-16.00	-9.00	-29.00	-69.00	-58.00	-52.00	-56.00

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 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	98	106	107	83	78	73	63	52	104	89	91	76
Inventory Days	164	360			138	79		2	61	58	52	58
Days Payable	140	258			10,220	1,861		191	348	160	164	159
Cash Conversion Cycle	122	208	107	83	-10,004	-1,709	63	-137	-183	-13	-20	-25
Working Capital Days	137	167	163	34	-308	307	453	154	-14	25	34	30
ROCE %	10%	-4%	-8%	-7%		-12%	-6%	-6%	-2%	7%	11%	10%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	72.40%	72.35%	71.94%	71.94%	71.94%	71.94%	71.62%	71.62%	71.62%	71.62%	71.62%	71.62%
DIIs	0.25%	0.25%	0.24%	0.24%	0.24%	0.24%	0.24%	0.24%	0.24%	0.24%	0.24%	0.24%
Government	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	27.35%	27.40%	27.81%	27.81%	27.80%	27.80%	28.12%	28.12%	28.12%	28.12%	28.11%	28.12%
No. of Shareholders	8,023	10,183	11,595	11,785	12,380	12,905	12,960	12,977	13,066	13,181	13,493	13,710

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.)	0.57	0.50	1.03	-0.14	-0.97
Diluted EPS (Rs.)	0.57	0.50	1.03	-0.14	-0.97
Cash EPS (Rs.)	1.73	1.72	2.23	0.93	-0.70
Book Value[Excl.RevalReserv]/Share (Rs.)	6.98	10.66	15.50	14.27	10.56
Book Value[Incl.RevalReserv]/Share (Rs.)	11.08	10.66	15.50	14.27	10.56
Revenue From Operations / Share (Rs.)	29.02	27.21	19.48	12.42	2.62
PBDIT / Share (Rs.)	3.26	3.83	3.19	0.69	-0.56
PBIT / Share (Rs.)	2.06	2.56	1.98	-0.37	-0.82
PBT / Share (Rs.)	0.73	1.38	0.84	-0.27	-0.96
Net Profit / Share (Rs.)	0.53	0.45	1.03	-0.14	-0.96
NP After MI And SOA / Share (Rs.)	0.57	0.49	1.03	-0.14	-0.96
PBDIT Margin (%)	11.22	14.07	16.34	5.60	-21.70
PBIT Margin (%)	7.11	9.41	10.16	-3.04	-31.67
PBT Margin (%)	2.52	5.07	4.31	-2.17	-36.86
Net Profit Margin (%)	1.83	1.67	5.27	-1.13	-36.97
NP After MI And SOA Margin (%)	1.96	1.81	5.27	-1.13	-36.97
Return on Networth / Equity (%)	7.89	4.53	6.54	-1.01	-9.21
Return on Capital Employeed (%)	9.61	12.49	7.66	-1.45	-6.13
Return On Assets (%)	1.74	1.55	2.95	-0.40	-6.04
Long Term Debt / Equity (X)	1.11	0.76	0.58	0.68	0.27
Total Debt / Equity (X)	1.60	1.06	0.73	0.79	0.41
Asset Turnover Ratio (%)	0.90	0.82	0.54	0.46	0.02
Current Ratio (X)	1.02	0.97	0.96	0.95	1.17
Quick Ratio (X)	0.90	0.87	0.87	0.89	1.17
Inventory Turnover Ratio (X)	8.66	10.05	0.00	0.00	2.15
Dividend Payout Ratio (NP) (%)	52.49	67.16	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	16.99	18.82	0.00	0.00	0.00
Earning Retention Ratio (%)	47.51	32.84	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	83.01	81.18	0.00	0.00	0.00
Interest Coverage Ratio (X)	2.60	3.24	2.80	0.92	-4.18
Interest Coverage Ratio (Post Tax) (X)	1.49	1.39	1.90	-0.33	-6.12
Enterprise Value (Cr.)	163.87	128.48	226.61	144.27	51.30
EV / Net Operating Revenue (X)	0.98	0.82	2.03	2.04	3.44
EV / EBITDA (X)	8.74	5.83	12.41	36.37	-15.86
MarketCap / Net Operating Revenue (X)	0.64	0.42	1.49	1.27	2.04
Retention Ratios (%)	47.50	32.83	0.00	0.00	0.00
Price / BV (X)	2.60	1.07	1.84	1.13	0.50
Price / Net Operating Revenue (X)	0.64	0.42	1.49	1.27	2.04
EarningsYield	0.03	0.04	0.03	-0.01	-0.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Accel Ltd as of December 26, 2024 is: 23.47

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 December 26, 2024, Accel Ltd is Undervalued by 5.72% compared to the current share price 22.20

Intrinsic Value of Accel Ltd as of December 26, 2024 is: 26.28

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 December 26, 2024, Accel Ltd is Undervalued by 18.38% compared to the current share price 22.20

Last 5 Year EPS CAGR: 11.97%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (64.69 cr) and profit (0.92 cr) over the years.	The stock has a low average ROCE of -0.58%, which may not be favorable. The stock has a high average Working Capital Days of 98.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 16.17, which may not be favorable. The company has higher borrowings (39.31) compared to reserves (34.15), 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 Accel Ltd:
1. Net Profit Margin: 1.83%
  - 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: 9.61% (Industry Average ROCE: 20.56%)
  - 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%: 7.89% (Industry Average ROE: 56.94%)
  - 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): 1.49
  - 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: 0.9
  - 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: 32.6 (Industry average Stock P/E: 75.84)
  - 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: 1.6
  - 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

ACCEL Ltd. is a Public Limited Listed company incorporated on 19/05/1986 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L30007TN1986PLC100219 and registration number is 100219. Currently company belongs to the Industry of IT Consulting & Software. Company’s Total Operating Revenue is Rs. 110.86 Cr. and Equity Capital is Rs. 11.46 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
IT Consulting & Software	3rd Floor, SFI Complex, Chennai (Madras) Tamil Nadu 600034	companysecretary@accel-india.com http://www.accel-india.com

Management
Name	Position Held
Mr. S V Rao	Whole Time Director
Mr. K Nagarajan	Independent Director
Ms. Shruthi Panicker	Non Independent Director
Mr. R Rangarajan	Independent Director
Mr. K R Varma	Independent Director
Mr. K R Chandrasekaran	Non Independent Director

FAQ

What is the latest intrinsic value of Accel Ltd?

The latest intrinsic value of Accel Ltd as on 26 December 2024 is ₹23.47, which is 5.72% higher than the current market price of ₹22.20. The stock has a market capitalization of 128 Cr. and recorded a high/low of 35.5/18.6 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹54 Cr and total liabilities of ₹183 Cr.

What is the Market Cap of Accel Ltd?

The Market Cap of Accel Ltd is 128 Cr..

What is the current Stock Price of Accel Ltd as on 26 December 2024?

The current stock price of Accel Ltd as on 26 December 2024 is 22.2.

What is the High / Low of Accel Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Accel Ltd stocks is 35.5/18.6.

What is the Stock P/E of Accel Ltd?

The Stock P/E of Accel Ltd is 32.6.

What is the Book Value of Accel Ltd?

The Book Value of Accel Ltd is 11.4.

What is the Dividend Yield of Accel Ltd?

The Dividend Yield of Accel Ltd is 1.35 %.

What is the ROCE of Accel Ltd?

The ROCE of Accel Ltd is 9.52 %.

What is the ROE of Accel Ltd?

The ROE of Accel Ltd is 6.23 %.

What is the Face Value of Accel Ltd?

The Face Value of Accel Ltd is 2.00.