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

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:13 am

Market Cap	10,626 Cr.
Current Price	533
High / Low	569/215
Stock P/E	69.3
Book Value	44.6
Dividend Yield	0.00 %
ROCE	24.8 %
ROE	23.6 %
Face Value	10.0
PEG Ratio	1.51

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Choice International Ltd	10,626 Cr.	533	569/215	69.3	44.6	0.00 %	24.8 %	23.6 %	10.0
Abans Holdings Ltd	1,353 Cr.	268	625/260	15.2	199	0.00 %	9.23 %	9.30 %	2.00
Max India Ltd	1,235 Cr.	286	338/146		103	0.00 %	7.69 %	10.7 %	10.0
IDFC Ltd	17,275 Cr.	108	130/104	19.9	83.6	0.93 %	8.49 %	8.37 %	10.0
BF Investment Ltd	2,585 Cr.	686	829/493	4.91	2,119	0.00 %	10.6 %	7.96 %	5.00
Industry Average	57,613.57 Cr	2,028.29		25.84	1,193.17	0.32%	12.23%	12.86%	6.86

All Competitor Stocks of

Quarterly Result

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	Sep 2024
Sales	61	67	92	77	77	96	137	138	191	207	215	201	247
Expenses	43	45	66	61	61	72	92	102	142	141	147	148	172
Operating Profit	18	22	26	16	16	24	45	36	49	67	67	53	76
OPM %	30%	33%	28%	21%	20%	25%	33%	26%	25%	32%	31%	26%	31%
Other Income	2	0	1	2	2	2	2	2	3	3	2	5	2
Interest	3	3	5	5	5	7	6	7	10	11	12	13	15
Depreciation	1	1	1	1	1	1	1	1	2	2	2	2	2
Profit before tax	16	18	21	12	12	18	40	29	40	56	55	43	61
Tax %	28%	25%	27%	34%	29%	24%	25%	28%	25%	28%	29%	26%	23%
Net Profit	12	14	15	8	8	14	30	21	30	40	39	32	46
EPS in Rs	0.59	0.68	0.77	0.39	0.42	0.71	1.52	1.08	1.48	1.98	1.93	1.48	2.31

Last Updated: November 6, 2024, 7:02 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 23, 2024, 2:50 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	42	62	62	187	134	152	121	132	176	285	393	756	870
Expenses	32	46	36	160	103	113	85	93	134	194	286	531	607
Operating Profit	10	16	26	28	30	39	36	39	41	92	107	225	263
OPM %	24%	25%	42%	15%	23%	26%	29%	29%	23%	32%	27%	30%	30%
Other Income	0	0	-0	0	1	0	0	0	0	1	2	3	11
Interest	3	9	17	19	19	21	20	17	15	15	22	41	52
Depreciation	1	1	2	2	2	3	3	3	3	3	5	7	7
Profit before tax	6	6	6	7	10	16	12	18	23	74	82	181	215
Tax %	35%	38%	25%	39%	41%	24%	28%	32%	27%	27%	27%	28%
Net Profit	4	3	5	4	6	12	6	12	17	54	60	131	158
EPS in Rs	0.73	0.70	1.02	0.86	1.26	1.22	0.59	1.24	1.17	2.69	3.02	6.56	7.70
Dividend Payout %	27%	29%	20%	23%	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 (%)	-25.00%	66.67%	-20.00%	50.00%	100.00%	-50.00%	100.00%	41.67%	217.65%	11.11%	118.33%
Change in YoY Net Profit Growth (%)	0.00%	91.67%	-86.67%	70.00%	50.00%	-150.00%	150.00%	-58.33%	175.98%	-206.54%	107.22%

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:	28%
5 Years:	44%
3 Years:	63%
TTM:	55%

Compounded Profit Growth
10 Years:	44%
5 Years:	86%
3 Years:	99%
TTM:	62%

Stock Price CAGR
10 Years:	55%
5 Years:	119%
3 Years:	156%
1 Year:	144%

Return on Equity
10 Years:	14%
5 Years:	16%
3 Years:	18%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 1:59 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	10	10	10	10	10	20	20	20	29	50	100	199	199
Reserves	44	46	50	53	70	146	154	193	234	360	378	432	690
Borrowings	29	96	121	119	147	177	166	143	151	220	206	455	498
Other Liabilities	32	38	46	49	60	84	133	146	240	346	424	718	933
Total Liabilities	114	189	227	232	287	428	473	502	655	976	1,107	1,805	2,321
Fixed Assets	28	32	32	34	37	78	98	88	86	88	126	134	133
CWIP	0	0	0	0	1	4	0	0	0	0	5	7	0
Investments	15	26	22	22	26	47	22	20	7	11	11	23	36
Other Assets	70	131	173	175	222	299	352	395	562	877	965	1,641	2,152
Total Assets	114	189	227	232	287	428	473	502	655	976	1,107	1,805	2,321

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 +	-5	-14	-22	28	-20	4	-36	26	-45	-34	138	-148
Cash from Investing Activity +	-14	-40	13	5	-11	-22	54	13	15	-123	-48	-18
Cash from Financing Activity +	19	57	6	-22	21	39	-28	-15	23	152	-29	224
Net Cash Flow	0	3	-3	11	-9	21	-11	24	-7	-5	62	58

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	-19.00	-80.00	-95.00	-91.00	-117.00	-138.00	-130.00	-104.00	-110.00	-128.00	-99.00	-230.00

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	274	308	572	169	313	281	201	251	158	104	107	91
Inventory Days		145	584	32	206	284
Days Payable		952	1,984	164	136	160
Cash Conversion Cycle	274	-499	-828	38	383	405	201	251	158	104	107	91
Working Capital Days	128	242	490	148	323	350	586	553	570	479	209	169
ROCE %	13%	12%	14%	14%	15%	13%	10%	10%	10%	17%	16%	25%

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	64.31%	64.31%	51.45%	51.45%	51.46%	51.46%	55.32%	55.98%	56.27%	57.98%	58.21%	58.21%
FIIs	5.02%	5.02%	7.18%	7.03%	14.09%	14.09%	15.12%	14.97%	15.44%	13.58%	12.44%	12.22%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.05%	0.06%	0.07%
Government	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	30.66%	30.65%	41.36%	41.51%	34.46%	34.47%	29.56%	29.05%	28.26%	28.41%	29.29%	29.51%
No. of Shareholders	2,504	2,541	3,560	3,609	5,204	5,057	5,101	6,202	7,234	8,096	18,513	18,524

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Motilal Oswal Nifty Microcap 250 Index Fund	119,297	0.4	3.26	535	2024-12-17	22198.5%
Groww Nifty Total Market Index Fund	535	0.01	0.01	535	2024-12-17	0%

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.)	6.57	6.04	13.84	7.78	12.43
Diluted EPS (Rs.)	6.52	6.01	13.84	5.11	12.43
Cash EPS (Rs.)	6.89	6.52	11.45	6.93	7.94
Book Value[Excl.RevalReserv]/Share (Rs.)	30.02	44.25	65.40	72.46	73.11
Book Value[Incl.RevalReserv]/Share (Rs.)	32.11	48.44	73.78	87.06	93.96
Revenue From Operations / Share (Rs.)	37.65	38.70	54.63	59.07	64.39
PBDIT / Share (Rs.)	11.42	10.92	18.56	14.48	19.47
PBIT / Share (Rs.)	11.09	10.44	17.88	13.40	17.75
PBT / Share (Rs.)	9.07	8.23	14.80	7.99	9.10
Net Profit / Share (Rs.)	6.56	6.04	10.77	5.85	6.21
NP After MI And SOA / Share (Rs.)	6.56	6.07	10.77	5.85	6.21
PBDIT Margin (%)	30.34	28.22	33.97	24.51	30.24
PBIT Margin (%)	29.46	26.97	32.73	22.68	27.55
PBT Margin (%)	24.08	21.28	27.09	13.52	14.13
Net Profit Margin (%)	17.43	15.59	19.72	9.90	9.64
NP After MI And SOA Margin (%)	17.43	15.67	19.71	9.90	9.64
Return on Networth / Equity (%)	22.19	13.86	16.50	8.07	8.49
Return on Capital Employeed (%)	24.57	17.25	19.35	12.82	15.50
Return On Assets (%)	7.24	5.44	5.48	2.54	2.47
Long Term Debt / Equity (X)	0.38	0.20	0.11	0.12	0.02
Total Debt / Equity (X)	0.77	0.47	0.66	0.71	0.97
Asset Turnover Ratio (%)	0.51	0.36	0.02	0.02	0.02
Current Ratio (X)	1.56	1.71	1.65	1.55	1.41
Quick Ratio (X)	1.56	1.70	1.60	1.53	1.30
Interest Coverage Ratio (X)	5.64	4.96	6.02	2.68	2.25
Interest Coverage Ratio (Post Tax) (X)	4.24	3.74	4.50	2.08	1.72
Enterprise Value (Cr.)	5537.18	2777.15	1213.64	449.81	243.55
EV / Net Operating Revenue (X)	7.38	7.21	4.46	2.67	1.89
EV / EBITDA (X)	24.31	25.56	13.14	10.88	6.25
MarketCap / Net Operating Revenue (X)	7.27	7.32	4.18	2.08	1.18
Price / BV (X)	9.26	6.47	3.50	1.69	1.04
Price / Net Operating Revenue (X)	7.27	7.32	4.18	2.08	1.18
EarningsYield	0.02	0.02	0.04	0.04	0.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 744.01

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 21, 2024, is Undervalued by 39.59% compared to the current share price 533.00

Intrinsic Value of as of December 21, 2024 is: 1,084.53

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 21, 2024, is Undervalued by 103.48% compared to the current share price 533.00

Last 5 Year EPS CAGR: 45.77%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (219.23 cr) compared to borrowings (194.46 cr), indicating strong financial stability. The company has shown consistent growth in sales (259.38 cr) and profit (50.46 cr) over the years.	The stock has a low average ROCE of 14.08%, which may not be favorable. The stock has a high average Working Capital Days of 353.92, which may not be favorable. The stock has a high average Cash Conversion Cycle of 57.08, 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: 17.43%
  - 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: 24.57% (Industry Average ROCE: 12.23%)
  - 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%: 22.19% (Industry Average ROE: 12.86%)
  - 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): 4.24
  - 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: 1.56
  - 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: 69.3 (Industry average Stock P/E: 22.14)
  - 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: 0.77
  - 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

Choice International Ltd. is a Public Limited Listed company incorporated on 12/03/1993 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67190MH1993PLC071117 and registration number is 071117. Currently Company is involved in the business activities of Other professional, scientific and technical activities. Company’s Total Operating Revenue is Rs. 11.28 Cr. and Equity Capital is Rs. 49.76 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Holding Company	Sunil Patodia Tower, Mumbai Maharashtra 400099	info@choiceindia.com http://www.choiceindia.com

Management
Name	Position Held
Mrs. Vinita Patodia	Non Exe. Non Ind Chairperson
CA. Kamal Poddar	Managing Director
Mr. Suyash Patodia	Joint Managing Director
Mr. Arun Kumar Poddar	Executive Director & CEO
CA. Ajay Kejriwal	Executive Director
Mr. Ashok Kumar Thakur	Independent Director
Mr. Kanhaiyalal Berwal	Independent Director
CA. Sudha Bhushan	Independent Director
CA. Subodh Kumar Agarwal	Independent Director
Mr. Sandeep Singh	Independent Director
CA. Sobhag Mal Jain	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹744.01, which is 39.59% higher than the current market price of ₹533.00. The stock has a market capitalization of 10,626 Cr. and recorded a high/low of 569/215 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹690 Cr and total liabilities of ₹2,321 Cr.

What is the Market Cap of ?

The Market Cap of is 10,626 Cr..

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

The current stock price of as on 21 December 2024 is 533.

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

In FY 2024-2025, the High / Low of stocks is 569/215.

What is the Stock P/E of ?

The Stock P/E of is 69.3.

What is the Book Value of ?

The Book Value of is 44.6.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 24.8 %.

What is the ROE of ?

The ROE of is 23.6 %.

What is the Face Value of ?

The Face Value of is 10.0.