Bengal & Assam Company Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:19 am

Market Cap	10,433 Cr.
Current Price	9,236
High / Low	11,499/7,299
Stock P/E	9.07
Book Value	8,330
Dividend Yield	0.43 %
ROCE	14.1 %
ROE	22.3 %
Face Value	10.0
PEG Ratio	0.61

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Mufin Green Finance Ltd	1,762 Cr.	108	274/90.4	91.1	16.0	0.00 %	10.6 %	8.27 %	1.00
Mukesh Babu Financial Services Ltd	105 Cr.	151	181/111	19.1	490	0.80 %	3.62 %	2.40 %	10.0
Nalin Lease Finance Ltd	44.0 Cr.	67.0	99.9/37.0	11.0	51.1	0.00 %	17.4 %	13.1 %	10.0
India Cements Capital Ltd	38.0 Cr.	17.5	26.4/13.5	42.7	8.43	0.00 %	3.50 %	8.87 %	10.0
Indergiri Finance Ltd	15.7 Cr.	31.0	71.3/26.8		8.26	0.00 %	7.67 %	14.0 %	10.0
Industry Average	18,820.20 Cr	650.87		38.13	563.11	0.17%	19.97%	10.57%	8.67

All Competitor Stocks of

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	3,021	3,380	3,473	3,702	4,167	4,228	3,993	4,103	4,241	4,377	3,777	523	528
Expenses	2,666	3,002	3,165	3,445	3,814	3,847	3,619	3,622	3,710	3,697	3,224	413	445
Operating Profit	355	377	307	257	353	381	374	481	531	680	553	110	83
OPM %	12%	11%	9%	7%	8%	9%	9%	12%	13%	16%	15%	21%	16%
Other Income	110	58	118	191	149	99	191	201	18	144	3,098	28	17
Interest	117	115	108	109	107	117	129	135	129	119	106	10	10
Depreciation	107	107	106	108	112	110	114	120	120	122	114	17	17
Profit before tax	241	212	212	232	283	252	322	427	299	583	3,431	111	73
Tax %	20%	28%	19%	8%	14%	17%	16%	19%	33%	25%	11%	25%	28%
Net Profit	193	153	170	214	244	210	272	345	378	437	3,062	317	256
EPS in Rs	143.60	111.33	128.55	172.26	195.57	168.24	212.38	253.91	263.66	283.68	2,622.08	275.57	219.90

Last Updated: October 7, 2024, 8:31 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

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	1,144	1,251	1,371	1,438	1,560	1,531	12,534	10,122	10,439	13,609	16,521	12,962	9,205
Expenses	1,000	1,133	1,205	1,243	1,283	1,247	11,151	8,858	8,937	12,278	14,903	11,044	7,779
Operating Profit	144	118	166	195	277	284	1,383	1,263	1,502	1,330	1,618	1,918	1,426
OPM %	13%	9%	12%	14%	18%	19%	11%	12%	14%	10%	10%	15%	15%
Other Income	29	101	27	26	28	29	-33	-76	52	26	-7	2,929	3,287
Interest	91	86	84	94	93	164	574	608	504	449	488	364	245
Depreciation	32	33	34	37	40	42	367	420	428	428	456	373	270
Profit before tax	49	99	74	90	171	108	409	159	622	479	667	4,109	4,198
Tax %	22%	22%	19%	24%	24%	29%	34%	-87%	38%	35%	32%	16%
Net Profit	38	77	178	250	345	207	457	522	678	731	1,071	4,194	4,072
EPS in Rs	40.19	83.65	199.70	279.03	382.63	231.31	415.28	402.92	450.08	555.74	830.10	3,445.00	3,401.23
Dividend Payout %	10%	6%	4%	4%	3%	4%	3%	4%	2%	3%	3%	1%

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 (%)	102.63%	131.17%	40.45%	38.00%	-40.00%	120.77%	14.22%	29.89%	7.82%	46.51%	291.60%
Change in YoY Net Profit Growth (%)	0.00%	28.54%	-90.72%	-2.45%	-78.00%	160.77%	-106.55%	15.66%	-22.07%	38.69%	245.09%

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:	26%
5 Years:	1%
3 Years:	7%
TTM:	-68%

Compounded Profit Growth
10 Years:	56%
5 Years:	34%
3 Years:	49%
TTM:	0%

Stock Price CAGR
10 Years:	33%
5 Years:	48%
3 Years:	62%
1 Year:	23%

Return on Equity
10 Years:	17%
5 Years:	18%
3 Years:	19%
Last Year:	22%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:43 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	9	9	9	9	9	9	11	11	11	11	11	11	11
Reserves	455	522	1,274	1,514	1,813	2,005	2,991	3,363	3,904	4,533	5,502	9,044	9,398
Borrowings	483	371	410	444	422	348	6,474	6,093	5,110	5,527	5,185	422	460
Other Liabilities	294	303	314	328	347	416	4,734	4,833	5,418	6,155	6,527	960	993
Total Liabilities	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	10,437	10,863
Fixed Assets	395	376	355	377	366	391	6,701	6,810	6,647	6,841	6,931	461	461
CWIP	4	4	9	3	20	11	287	295	328	136	232	22	8
Investments	578	564	1,289	1,508	1,703	1,984	1,819	2,085	2,423	2,749	3,602	9,090	9,468
Other Assets	264	261	353	406	502	391	5,404	5,110	5,045	6,500	6,460	864	926
Total Assets	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	10,437	10,863

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 +	128	139	109	144	113	102	993	1,499	1,780	351	1,437	1,817
Cash from Investing Activity +	-64	44	-105	-102	54	-163	-368	-348	-177	-188	-647	-1,392
Cash from Financing Activity +	-77	-183	-3	-37	-172	64	-567	-1,191	-1,567	-144	-778	-590
Net Cash Flow	-14	-0	1	4	-5	3	58	-39	37	19	12	-165

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	-339.00	-253.00	-244.00	-249.00	-145.00	-64.00	-5.00	-5.00	-4.00	-4.00	-4.00	-421.00

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	39	34	34	32	29	32	65	73	63	61	57	9
Inventory Days	24	23	24	25	27	28	89	118	120	114	91	20
Days Payable	22	28	30	32	32	30	81	114	101	96	70	9
Cash Conversion Cycle	41	29	28	26	24	30	73	77	81	79	78	20
Working Capital Days	20	11	13	16	40	16	61	56	40	51	42	9
ROCE %	14%	12%	12%	10%	12%	11%	15%	8%	10%	8%	10%	14%

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	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	73.02%	73.02%	73.02%	73.02%
FIIs	0.00%	3.53%	3.89%	3.89%	3.89%	3.90%	3.92%	4.28%	4.31%	4.31%	4.31%	4.55%
DIIs	0.50%	0.50%	0.50%	0.37%	0.07%	0.06%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	26.84%	23.31%	22.95%	23.09%	23.38%	23.38%	23.42%	23.06%	22.67%	22.67%	22.67%	22.43%
No. of Shareholders	23,643	22,984	22,665	22,345	21,602	21,435	20,792	20,629	20,819	21,019	21,021	21,119

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.)	3444.99	830.10	555.74	450.07	402.92
Diluted EPS (Rs.)	3444.99	830.10	555.74	450.07	402.92
Cash EPS (Rs.)	3399.57	804.25	656.90	719.49	636.12
Book Value[Excl.RevalReserv]/Share (Rs.)	8180.76	6630.28	5429.77	4794.59	4147.06
Book Value[Incl.RevalReserv]/Share (Rs.)	8180.76	6630.28	5429.77	4794.59	4147.06
Revenue From Operations / Share (Rs.)	11435.08	14599.16	12017.81	9206.93	8951.93
PBDIT / Share (Rs.)	1726.19	1480.24	1197.45	1351.39	1142.33
PBIT / Share (Rs.)	1395.90	1076.82	818.18	972.92	770.32
PBT / Share (Rs.)	3637.68	590.50	424.02	556.81	138.06
Net Profit / Share (Rs.)	3069.28	400.84	277.63	341.02	264.11
NP After MI And SOA / Share (Rs.)	3444.99	830.11	555.74	450.07	402.92
PBDIT Margin (%)	15.09	10.13	9.96	14.67	12.76
PBIT Margin (%)	12.20	7.37	6.80	10.56	8.60
PBT Margin (%)	31.81	4.04	3.52	6.04	1.54
Net Profit Margin (%)	26.84	2.74	2.31	3.70	2.95
NP After MI And SOA Margin (%)	30.12	5.68	4.62	4.88	4.50
Return on Networth / Equity (%)	42.97	17.00	13.81	12.98	13.48
Return on Capital Employeed (%)	16.17	13.59	12.50	16.90	15.64
Return On Assets (%)	37.16	5.40	3.84	3.50	3.16
Long Term Debt / Equity (X)	0.00	0.03	0.04	0.05	0.06
Total Debt / Equity (X)	0.04	0.94	1.22	1.30	1.81
Asset Turnover Ratio (%)	0.92	0.01	0.01	0.01	0.02
Current Ratio (X)	13.61	1.11	0.95	0.86	0.74
Quick Ratio (X)	13.09	0.79	0.63	0.60	0.52
Inventory Turnover Ratio (X)	4.68	0.00	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	0.72	1.80	1.34	0.00	3.72
Dividend Payout Ratio (CP) (%)	0.66	1.21	0.80	0.00	1.93
Earning Retention Ratio (%)	99.28	98.20	98.66	0.00	96.28
Cash Earning Retention Ratio (%)	99.34	98.79	99.20	0.00	98.07
Interest Coverage Ratio (X)	5.35	3.43	3.01	3.03	2.12
Interest Coverage Ratio (Post Tax) (X)	2.56	2.05	1.69	1.71	1.66
Enterprise Value (Cr.)	10221.95	10977.72	9439.46	7853.80	8527.27
EV / Net Operating Revenue (X)	0.79	0.66	0.69	0.75	0.84
EV / EBITDA (X)	5.24	6.57	6.98	5.14	6.61
MarketCap / Net Operating Revenue (X)	0.74	0.25	0.19	0.14	0.13
Retention Ratios (%)	99.27	98.19	98.65	0.00	96.27
Price / BV (X)	1.07	0.74	0.58	0.39	0.40
Price / Net Operating Revenue (X)	0.74	0.25	0.19	0.14	0.13
EarningsYield	0.40	0.22	0.23	0.32	0.33

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 16,920.79

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 22, 2024, is Undervalued by 83.20% compared to the current share price 9,236.00

Intrinsic Value of as of December 22, 2024 is: 19,434.73

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 22, 2024, is Undervalued by 110.42% compared to the current share price 9,236.00

Last 5 Year EPS CAGR: 14.86%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock is trading at a low valuation with an average P/B ratio of 1,006.83 and average Dividend Yield of 9.11%. The company has higher reserves (3,562.92 cr) compared to borrowings (2,442.23 cr), indicating strong financial stability. The company has shown consistent growth in sales (6.77 cr) and profit (225.77 cr) over the years.	The stock has a low average ROCE of 11.33%, which may not be favorable. The stock has a high average Working Capital Days of 31.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 48.83, which may not be favorable.

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 :
1. Net Profit Margin: 26.84%
  - 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: 16.17% (Industry Average ROCE: 19.97%)
  - 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%: 42.97% (Industry Average ROE: 10.57%)
  - 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): 2.56
  - 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: 13.09
  - 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: 9.07 (Industry average Stock P/E: 38.13)
  - 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: 0.04
  - 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

Bengal & Assam Company Ltd. is a Public Limited Listed company incorporated on 30/01/1947 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L67120WB1947PLC221402 and registration number is 116830. Currently Company is involved in the business activities of Activities of holding companies. Company’s Total Operating Revenue is Rs. 102.86 Cr. and Equity Capital is Rs. 11.30 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Non-Banking Financial Company (NBFC)	7, Council House Street, Kolkata West Bengal 700001	dswain@jkmail.com http://www.bengalassam.com

Management
Name	Position Held
Mr. Bharat Hari Singhania	Chairman
Mr. Sanjeev Kumar Jhunjhunwala	Director
Mr. Ashok Kumar Kinra	Director
Mr. Bakul Jain	Director
Dr. Raghupati Singhania	Director
Mr. Sanjay Kumar Khaitan	Director
Mr. Shailendra Swarup	Director
Ms. Vinita Singhania	Director
Ms. Deepa Gopalan Wadhwa	Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹16920.79, which is 83.20% higher than the current market price of ₹9,236.00. The stock has a market capitalization of 10,433 Cr. and recorded a high/low of 11,499/7,299 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹9,398 Cr and total liabilities of ₹10,863 Cr.

What is the Market Cap of ?

The Market Cap of is 10,433 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 9,236.

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

In FY 2024-2025, the High / Low of stocks is 11,499/7,299.

What is the Stock P/E of ?

The Stock P/E of is 9.07.

What is the Book Value of ?

The Book Value of is 8,330.

What is the Dividend Yield of ?

The Dividend Yield of is 0.43 %.

What is the ROCE of ?

The ROCE of is 14.1 %.

What is the ROE of ?

The ROE of is 22.3 %.

What is the Face Value of ?

The Face Value of is 10.0.