ARSS Infrastructure Projects Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 29, 2024, 10:06 pm

Market Cap	51.7 Cr.
Current Price	22.7
High / Low	26.8/16.0
Stock P/E
Book Value	67.4
Dividend Yield	0.00 %
ROCE	2.32 %
ROE	%
Face Value	10.0
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for ARSS Infrastructure Projects Ltd

Competitors of ARSS Infrastructure Projects Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Mount Housing & Infrastructure Ltd	9.53 Cr.	31.5	31.5/28.6		11.7	0.00 %	8.64 %	1.73 %	10.0
MPDL Ltd	62.4 Cr.	84.2	84.2/31.4		136	0.00 %	3.39 %	6.29 %	10.0
IITL Projects Ltd	28.7 Cr.	57.5	78.1/16.2	8.89	70.7	0.00 %	%	%	10.0
HB Estate Developers Ltd	192 Cr.	98.7	125/45.4	25.9	80.1	0.00 %	7.00 %	2.39 %	10.0
Hazoor Multi Projects Ltd	991 Cr.	49.7	63.9/28.4	11.8	19.5	0.60 %	%	%	1.00
Industry Average	16,430.22 Cr	301.50		35.93	131.74	0.13%	22.95%	27.03%	21.06

All Competitor Stocks of ARSS Infrastructure Projects 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	59.45	53.78	52.49	123.10	71.79	66.09	107.37	157.28	72.63	68.16	75.40	104.67	86.78
Expenses	81.29	72.77	54.18	203.19	73.56	69.69	109.16	158.71	89.61	67.71	103.85	106.64	86.26
Operating Profit	-21.84	-18.99	-1.69	-80.09	-1.77	-3.60	-1.79	-1.43	-16.98	0.45	-28.45	-1.97	0.52
OPM %	-36.74%	-35.31%	-3.22%	-65.06%	-2.47%	-5.45%	-1.67%	-0.91%	-23.38%	0.66%	-37.73%	-1.88%	0.60%
Other Income	2.33	4.90	5.03	4.56	2.19	8.01	2.65	4.69	1.47	2.36	7.28	3.31	1.12
Interest	0.20	0.65	0.08	0.87	0.12	0.24	0.06	0.11	0.00	0.00	0.00	0.00	0.45
Depreciation	0.11	0.12	0.12	0.39	0.20	0.20	0.22	0.23	0.24	0.24	0.24	0.24	0.24
Profit before tax	-19.82	-14.86	3.14	-76.79	0.10	3.97	0.58	2.92	-15.75	2.57	-21.41	1.10	0.95
Tax %	3.23%	4.58%	13.38%	0.92%	530.00%	13.35%	96.55%	18.49%	2.92%	18.68%	2.15%	42.73%	40.00%
Net Profit	-20.46	-15.54	2.73	-77.51	-0.43	3.44	0.02	2.38	-16.20	2.09	-21.87	0.64	0.57
EPS in Rs	-9.00	-6.83	1.20	-34.09	-0.19	1.51	0.01	1.05	-7.12	0.92	-9.62	0.28	0.25

Last Updated: September 11, 2024, 2:49 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 11, 2024, 2:49 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	761	883	639	613	837	584	459	289	248	289	403	321	335
Expenses	660	682	438	427	1,071	522	449	318	318	411	411	367	364
Operating Profit	100	200	201	186	-234	62	10	-29	-69	-122	-8	-46	-29
OPM %	13%	23%	31%	30%	-28%	11%	2%	-10%	-28%	-42%	-2%	-14%	-9%
Other Income	9	-1	8	21	12	-76	25	65	32	16	18	14	14
Interest	134	163	167	165	81	41	29	5	2	2	1	1	0
Depreciation	36	35	37	36	33	24	22	21	11	1	1	1	1
Profit before tax	-60	1	5	6	-336	-79	-17	10	-51	-108	8	-33	-17
Tax %	8%	-16%	-13%	19%	-1%	-30%	-33%	19%	4%	2%	29%	6%
Net Profit	-65	2	6	5	-332	-55	-11	8	-53	-111	5	-35	-19
EPS in Rs	-43.51	1.13	4.19	3.38	-223.41	-24.09	-4.93	3.51	-23.16	-48.72	2.38	-15.55	-8.17
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	103.08%	200.00%	-16.67%	-6740.00%	83.43%	80.00%	172.73%	-762.50%	-109.43%	104.50%	-800.00%
Change in YoY Net Profit Growth (%)	0.00%	96.92%	-216.67%	-6723.33%	6823.43%	-3.43%	92.73%	-935.23%	653.07%	213.94%	-904.50%

ARSS Infrastructure Projects 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:	-10%
5 Years:	-7%
3 Years:	9%
TTM:	-26%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	14%
TTM:	-72%

Stock Price CAGR
10 Years:	-6%
5 Years:	2%
3 Years:	-11%
1 Year:	22%

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

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 4:00 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	15	15	15	15	15	23	23	23	23	23	23	23	23
Reserves	339	341	347	352	22	19	8	16	-36	-147	-142	-177	-176
Borrowings	1,394	1,603	1,712	1,879	1,703	1,681	1,690	1,645	1,628	1,627	1,625	1,631	1,628
Other Liabilities	312	296	221	158	105	85	114	86	79	93	93	132	116
Total Liabilities	2,060	2,255	2,295	2,404	1,845	1,809	1,835	1,771	1,694	1,596	1,600	1,609	1,590
Fixed Assets	391	336	277	266	207	87	63	41	32	35	37	36	36
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	43	44	46	39	42	42	45	56	33	32	32	32	32
Other Assets	1,626	1,874	1,972	2,099	1,597	1,680	1,726	1,673	1,629	1,528	1,531	1,541	1,523
Total Assets	2,060	2,255	2,295	2,404	1,845	1,809	1,835	1,771	1,694	1,596	1,600	1,609	1,590

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	117	128	133	188	-150	21	692	-37	-8	-2	8	28
Cash from Investing Activity +	-0	17	29	-18	26	15	7	-12	19	-4	-3	-1
Cash from Financing Activity +	-119	-163	-167	-165	122	12	-686	-8	-2	-0	-0	-0
Net Cash Flow	-2	-18	-5	5	-2	49	13	-58	8	-6	4	26

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	99.00	199.00	200.00	185.00	-235.00	61.00	9.00	-30.00	-70.00	-123.00	-9.00	-47.00

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 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	112	98	138	161	36	32	59	18	33	13	11	10
Inventory Days	829	813	1,648	1,565	34	161	173	501	60	94	205	385
Days Payable	108	155	247	154	28	130	139	213	72	74	164	417
Cash Conversion Cycle	833	756	1,539	1,572	41	63	93	305	21	33	51	-21
Working Capital Days	576	391	474	459	236	96	130	251	236	175	136	129
ROCE %	5%	9%	9%	8%	-13%	3%	1%	-2%	-4%	-7%	1%	-2%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	46.70%	47.19%	46.70%	46.70%	46.70%	46.70%
Public	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	53.30%	52.81%	53.29%	53.30%	53.31%	53.30%
No. of Shareholders	16,244	16,923	16,889	16,682	16,366	15,898	15,791	15,674	15,564	15,420	15,533	15,436

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	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-15.32	2.60	-48.56	-22.85	3.98
Diluted EPS (Rs.)	-15.32	2.60	-48.56	-22.85	3.98
Cash EPS (Rs.)	-15.13	2.74	-48.41	-18.40	12.67
Book Value[Excl.RevalReserv]/Share (Rs.)	-71.11	-55.79	-58.39	-9.84	13.01
Book Value[Incl.RevalReserv]/Share (Rs.)	-71.11	-55.79	-58.39	-9.84	13.01
Revenue From Operations / Share (Rs.)	141.12	177.03	127.02	109.27	126.89
PBDIT / Share (Rs.)	-14.31	3.92	-46.70	-16.50	15.46
PBIT / Share (Rs.)	-14.73	3.55	-47.02	-21.25	6.30
PBT / Share (Rs.)	-14.73	3.32	-47.65	-22.25	4.35
Net Profit / Share (Rs.)	-15.55	2.37	-48.73	-23.16	3.51
NP After MI And SOA / Share (Rs.)	-15.32	2.60	-48.56	-22.85	3.98
PBDIT Margin (%)	-10.13	2.21	-36.76	-15.09	12.18
PBIT Margin (%)	-10.43	2.00	-37.02	-19.45	4.96
PBT Margin (%)	-10.43	1.87	-37.51	-20.36	3.42
Net Profit Margin (%)	-11.01	1.33	-38.36	-21.19	2.76
NP After MI And SOA Margin (%)	-10.85	1.46	-38.22	-20.91	3.14
Return on Networth / Equity (%)	0.00	-4.66	0.00	0.00	30.66
Return on Capital Employeed (%)	20.89	-6.43	81.43	231.23	46.60
Return On Assets (%)	-2.17	0.37	-6.95	-3.07	0.51
Total Debt / Equity (X)	-10.07	-12.79	-12.26	-72.77	55.73
Asset Turnover Ratio (%)	0.20	0.25	0.17	0.14	0.15
Current Ratio (X)	0.15	0.14	0.13	0.13	0.15
Quick Ratio (X)	0.12	0.12	0.11	0.12	0.10
Inventory Turnover Ratio (X)	1.48	1.80	4.60	1.50	0.93
Interest Coverage Ratio (X)	-14146.26	17.19	-74.31	-16.48	7.91
Interest Coverage Ratio (Post Tax) (X)	-15367.30	11.40	-76.55	-22.14	2.80
Enterprise Value (Cr.)	1598.09	1629.37	1630.77	1628.83	1627.44
EV / Net Operating Revenue (X)	4.98	4.05	5.65	6.56	5.64
EV / EBITDA (X)	-49.12	182.75	-15.36	-43.42	46.30
MarketCap / Net Operating Revenue (X)	0.12	0.14	0.18	0.17	0.07
Price / BV (X)	-0.25	-0.46	-0.41	-1.93	0.76
Price / Net Operating Revenue (X)	0.12	0.14	0.18	0.17	0.07
EarningsYield	-0.85	0.09	-2.01	-1.20	0.39

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of ARSS Infrastructure Projects Ltd as of December 30, 2024 is: 154.68

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 30, 2024, ARSS Infrastructure Projects Ltd is Undervalued by 581.41% compared to the current share price 22.70

Default values used*: Default value of 15 for Stock P/E is used, Default value of 15% for ROE is used

Intrinsic Value of ARSS Infrastructure Projects Ltd as of December 30, 2024 is: 269.28

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 30, 2024, ARSS Infrastructure Projects Ltd is Undervalued by 1,086.26% compared to the current share price 22.70

Default values used*: Default value of 15 for Stock P/E is used, Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 74.09%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
	The stock has a low average ROCE of 0.67%, which may not be favorable. The stock has a high average Working Capital Days of 274.08, which may not be favorable. The stock has a high average Cash Conversion Cycle of 181.42, which may not be favorable. The company has higher borrowings (1,649.69) compared to reserves (58.92), which may suggest financial risk. The company has not shown consistent growth in sales (512.38) and profit (-51.62).

Strength

Weakness

The stock has a low average ROCE of 0.67%, which may not be favorable.
The stock has a high average Working Capital Days of 274.08, which may not be favorable.
The stock has a high average Cash Conversion Cycle of 181.42, which may not be favorable.
The company has higher borrowings (1,649.69) compared to reserves (58.92), which may suggest financial risk.
The company has not shown consistent growth in sales (512.38) and profit (-51.62).

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 ARSS Infrastructure Projects Ltd:
1. Net Profit Margin: -11.01%
  - 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: 20.89% (Industry Average ROCE: 22.95%)
  - 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%: 0% (Industry Average ROE: 27.03%)
  - 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): -15367.3
  - 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: 0.12
  - 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: 0 (Industry average Stock P/E: 35.93)
  - 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: -10.07
  - 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

ARSS Infrastructure Projects Ltd. is a Public Limited Listed company incorporated on 17/05/2000 and has its registered office in the State of Orissa, India. Company’s Corporate Identification Number(CIN) is L14103OR2000PLC006230 and registration number is 006230. Currently company belongs to the Industry of Construction & Contracting. Company’s Total Operating Revenue is Rs. 288.82 Cr. and Equity Capital is Rs. 22.74 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Construction, Contracting & Engineering	Plot No-38, Sector-A, Zone-D, Bhubaneshwar Orissa 751010	cs@arssgroup.in http://www.arssgroup.in

Management
Name	Position Held
Mr. Subash Agarwal	Chairman & Executive Director
Mr. Rajesh Agarwal	Managing Director
Mr. Pareswar Panda	Director

FAQ

What is the latest intrinsic value of ARSS Infrastructure Projects Ltd?

The latest intrinsic value of ARSS Infrastructure Projects Ltd as on 30 December 2024 is ₹154.68, which is 581.41% higher than the current market price of ₹22.70. The stock has a market capitalization of 51.7 Cr. and recorded a high/low of 26.8/16.0 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹-176 Cr and total liabilities of ₹1,590 Cr.

What is the Market Cap of ARSS Infrastructure Projects Ltd?

The Market Cap of ARSS Infrastructure Projects Ltd is 51.7 Cr..

What is the current Stock Price of ARSS Infrastructure Projects Ltd as on 30 December 2024?

The current stock price of ARSS Infrastructure Projects Ltd as on 30 December 2024 is 22.7.

What is the High / Low of ARSS Infrastructure Projects Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of ARSS Infrastructure Projects Ltd stocks is 26.8/16.0.

What is the Stock P/E of ARSS Infrastructure Projects Ltd?

The Stock P/E of ARSS Infrastructure Projects Ltd is .

What is the Book Value of ARSS Infrastructure Projects Ltd?

The Book Value of ARSS Infrastructure Projects Ltd is 67.4.

What is the Dividend Yield of ARSS Infrastructure Projects Ltd?

The Dividend Yield of ARSS Infrastructure Projects Ltd is 0.00 %.

What is the ROCE of ARSS Infrastructure Projects Ltd?

The ROCE of ARSS Infrastructure Projects Ltd is 2.32 %.

What is the ROE of ARSS Infrastructure Projects Ltd?

The ROE of ARSS Infrastructure Projects Ltd is %.

What is the Face Value of ARSS Infrastructure Projects Ltd?

The Face Value of ARSS Infrastructure Projects Ltd is 10.0.