Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 22 May, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532541 | NSE: COFORGE

Fundamental Analysis of Coforge Ltd

About the Company - Coforge Ltd

Coforge Ltd. is a Public Limited Listed company incorporated on 13/05/1992 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L72100DL1992PLC048753 and registration number is 048753. Currently Company is involved in the business activities of Computer programming activities. Company’s Total Operating Revenue is Rs. 3313.20 Cr. and Equity Capital is Rs. 60.90 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
IT Consulting & Software8, Balaji Estate, Third Floor, New Delhi Delhi 110019investors@coforgetech.com
https://www.coforge.com
Management
NamePosition Held
Mr. Basab PradhanChairman & Ind.Dire (Non-Exe)
Mr. Sudhir SinghExecutive Director & CEO
Mr. Hari GopalakrishnanNon Executive Director
Mr. Patrick John CordesNon Executive Director
Mr. Kenneth Tuck Kuen CheongNon Executive Director
Mr. Kirti Ram HariharanNon Executive Director
Mr. Ashwani PuriInd. Non-Executive Director
Ms. Mary Beth BoucherInd. Non-Executive Director

Basic Stock Data of Coforge Ltd

Last Updated: May 22, 2024, 4:42 pm

Market Cap 30,353 Cr.
Current Price 4,910
High / Low6,847/4,211
Stock P/E38.0
Book Value 587
Dividend Yield1.55 %
ROCE28.3 %
ROE23.8 %
Face Value 10.0
PEG Ratio2.93

Data Source: screener.in

Coforge Ltd Quarterly Results

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales1,2621,4621,5691,6581,7431,8291,9592,0562,1702,2212,2762,3232,358
Expenses1,0521,2501,2951,3551,4301,5411,6221,6961,8741,9151,9351,9281,973
Operating Profit210211275303312289337360296306341395386
OPM %17%14%18%18%18%16%17%17%14%14%15%17%16%
Other Income16168523141432-501691522
Interest3121618181821222022323537
Depreciation45526057586361627276778185
Profit before tax178163206233259221268307155224241294286
Tax %23%20%22%15%13%22%18%23%25%22%22%18%20%
Net Profit137131162197225172221236117176188243229
EPS in Rs21.9520.4024.2030.1734.1024.5832.9937.3718.7927.0629.4138.5436.19

Last Updated: May 4, 2024, 3:41 pm

Coforge Ltd Quarterly Chart

Coforge Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,5762,0212,3052,3722,6882,8022,9913,6764,1844,6636,4328,0158,723
Expenses1,3061,6881,9502,0362,2142,3222,4893,0263,4593,8825,3306,7337,421
Operating Profit2713333553374744805026507257811,1021,2821,302
OPM %17%16%15%14%18%17%17%18%17%17%17%16%15%
Other Income302330-64204384659135287
Interest454686991614658195
Depreciation36576292121128127125173184227258287
Profit before tax260293318176365351404562595596862951927
Tax %24%26%25%31%21%22%24%25%21%22%17%22%
Net Profit196218238122287272309422468466715745716
EPS in Rs33.0835.4037.9818.6944.1340.7645.5965.2871.0575.19108.65113.58112.63
Dividend Payout %24%24%24%51%23%31%33%0%44%17%48%56%

Coforge Ltd Profit & Loss Yearly Chart

Coforge Ltd Growth

Compounded Sales Growth
10 Years:15%
5 Years:20%
3 Years:25%
TTM:15%
Compounded Profit Growth
10 Years:13%
5 Years:14%
3 Years:19%
TTM:9%
Stock Price CAGR
10 Years:30%
5 Years:30%
3 Years:12%
1 Year:11%
Return on Equity
10 Years:21%
5 Years:23%
3 Years:25%
Last Year:24%

Last Updated: May 13, 2024, 3:45 pm

Coforge Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital60606161616162626261616162
Reserves8501,0341,2631,2961,5111,6251,7122,0102,3342,4062,6723,0213,266
Borrowings5210991025221435834905621,209
Other Liabilities3654354686117026958287489689351,6551,9801,548
Total Liabilities1,3261,5391,8011,9772,2852,4072,6242,8343,4003,4844,8785,6256,085
Fixed Assets4234384535589038488798191,0791,0212,0672,3122,351
CWIP02812912017011001756
Investments55825555753163653651412000
Other Assets8489911,1641,2431,2911,2441,3791,6492,3072,4512,7943,3093,728
Total Assets1,3261,5391,8011,9772,2852,4072,6242,8343,4003,4844,8785,6256,085

Coforge Ltd Reserves and Borrowings Chart

Coforge Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 164235145258360472382453297762766950
Cash from Investing Activity -87-107-78-184-223-343-248-237136-86-963-269
Cash from Financing Activity -17-91-53-66-73-67-74-106-133-696-156-558
Net Cash Flow6137147646260109300-20-353123

Coforge Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days778289938061715875847973
Inventory Days1312
Days Payable519361
Cash Conversion Cycle77-424-260938061715875847973
Working Capital Days505770486438303738363715
ROCE %30%28%26%19%25%23%23%30%27%25%32%31%

Coforge Ltd Financial Efficiency Indicators Chart

Coforge Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters63.99%55.73%50.18%49.97%40.09%40.09%40.06%39.99%30.16%26.63%0.00%0.00%
FIIs14.62%19.42%20.67%19.12%22.40%21.87%21.02%21.30%25.40%24.78%34.37%34.04%
DIIs11.85%14.93%18.64%20.29%25.68%25.88%26.45%26.73%32.20%37.20%54.28%55.02%
Public9.54%9.92%10.50%10.62%11.83%12.16%12.47%11.97%12.23%11.39%11.35%10.95%
No. of Shareholders51,90668,97594,5611,04,2501,42,0491,50,3081,63,7791,53,3931,46,6851,33,6461,23,3301,17,844

Coforge Ltd Shareholding Pattern Chart

No. of Coforge Ltd Shareholders

Coforge Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Mid-Cap Opportunities Fund - Regular Plan27485212.861369.93
UTI Flexi Cap Fund14552942.98725.35
Motilal Oswal Flexi Cap Fund10500006.45523.35
Axis Midcap Fund8481441.92422.74
Motilal Oswal Midcap Fund7960006.55396.75
SBI Large & Midcap Fund7410002.36369.33
Mirae Asset Emerging Bluechip Fund7347931.3366.24
HDFC Flexi Cap Fund - Regular Plan6750000.85336.44
DSP Mid Cap Fund6428122.22320.39
Mirae Asset Midcap Fund6314102.67314.71

Coforge Ltd ROCE Trend

Coforge Ltd EPS Trend

Coforge Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)131.56113.77109.0274.6871.39
Diluted EPS (Rs.)129.59111.53106.5273.2970.97
Cash EPS (Rs.)186.76164.26154.66107.19102.50
Book Value[Excl.RevalReserv]/Share (Rs.)603.06518.80464.93406.95383.44
Book Value[Incl.RevalReserv]/Share (Rs.)603.06518.80464.93406.95383.44
Revenue From Operations / Share (Rs.)1485.281311.721056.16769.44669.42
PBDIT / Share (Rs.)239.08219.74189.44134.01126.56
PBIT / Share (Rs.)187.52177.43152.13103.7198.88
PBT / Share (Rs.)169.08155.68141.4698.3895.26
Net Profit / Share (Rs.)135.21121.95117.3676.9074.82
NP After MI And SOA / Share (Rs.)130.74113.55108.6575.1871.04
PBDIT Margin (%)16.0916.7517.9317.4118.90
PBIT Margin (%)12.6213.5214.4013.4714.77
PBT Margin (%)11.3811.8613.3912.7814.23
Net Profit Margin (%)9.109.2911.119.9911.17
NP After MI And SOA Margin (%)8.808.6510.289.7710.61
Return on Networth / Equity (%)22.2722.5024.2118.4718.52
Return on Capital Employeed (%)25.3227.4824.5423.5323.35
Return On Assets (%)13.2212.2013.3512.9612.90
Long Term Debt / Equity (X)0.090.100.120.000.00
Total Debt / Equity (X)0.120.100.120.000.00
Asset Turnover Ratio (%)1.560.960.980.840.85
Current Ratio (X)1.701.501.882.532.71
Quick Ratio (X)1.701.501.882.532.71
Dividend Payout Ratio (NP) (%)0.0050.9847.6815.0728.13
Dividend Payout Ratio (CP) (%)0.0037.1435.4910.7420.24
Earning Retention Ratio (%)0.0049.0252.3284.9371.87
Cash Earning Retention Ratio (%)0.0062.8664.5189.2679.76
Interest Coverage Ratio (X)11.7616.6617.7556.7951.03
Interest Coverage Ratio (Post Tax) (X)7.5610.8912.0034.8531.63
Enterprise Value (Cr.)34184.9023170.6027122.6416939.866277.34
EV / Net Operating Revenue (X)3.722.894.223.631.50
EV / EBITDA (X)23.1417.2623.5120.867.94
MarketCap / Net Operating Revenue (X)3.702.914.223.811.72
Retention Ratios (%)0.0049.0152.3184.9271.86
Price / BV (X)9.377.579.927.202.99
Price / Net Operating Revenue (X)3.702.914.223.811.72
EarningsYield0.020.020.020.020.06

Coforge Ltd Profitability Ratios (%)

Coforge Ltd Liquidity Ratios

Coforge Ltd Liquidity Ratios (%)

Coforge Ltd Interest Coverage Ratios (%)

Coforge Ltd Valuation Ratios

Fair Value

Fair Value: ₹5,391.11

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.

Undervalued: 9.80% compared to the current price ₹4910

Intrinsic Value: ₹6,090.05

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 24.03% compared to the current price ₹4910

Last 5 Year EPS CAGR: 12.96%

*Investments are subject to market risks

Strength and Weakness of Coforge Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 24.08%, which is a positive sign.
  2. The company has higher reserves (2,037.42 cr) compared to borrowings (166.25 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.83 cr) and profit (456.17 cr) over the years.
  1. The stock has a high average Working Capital Days of 42.08, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 5.17, which may not be favorable.

FAQ

What is the latest fair value of Coforge Ltd?

The latest fair value of Coforge Ltd is ₹5391.11.

What is the Market Cap of Coforge Ltd?

The Market Cap of Coforge Ltd is 30,353 Cr..

What is the current Stock Price of Coforge Ltd as on 22 May 2024?

The current stock price of Coforge Ltd as on 22 May 2024 is ₹4,910.

What is the High / Low of Coforge Ltd stocks in FY 2024?

In FY 2024, the High / Low of Coforge Ltd stocks is ₹6,847/4,211.

What is the Stock P/E of Coforge Ltd?

The Stock P/E of Coforge Ltd is 38.0.

What is the Book Value of Coforge Ltd?

The Book Value of Coforge Ltd is 587.

What is the Dividend Yield of Coforge Ltd?

The Dividend Yield of Coforge Ltd is 1.55 %.

What is the ROCE of Coforge Ltd?

The ROCE of Coforge Ltd is 28.3 %.

What is the ROE of Coforge Ltd?

The ROE of Coforge Ltd is 23.8 %.

What is the Face Value of Coforge Ltd?

The Face Value of Coforge 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 Coforge 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