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.
Management |
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Name | Position Held |
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Mr. Basab Pradhan | Chairman & Ind.Dire (Non-Exe) |
Mr. Sudhir Singh | Executive Director & CEO |
Mr. Hari Gopalakrishnan | Non Executive Director |
Mr. Patrick John Cordes | Non Executive Director |
Mr. Kenneth Tuck Kuen Cheong | Non Executive Director |
Mr. Kirti Ram Hariharan | Non Executive Director |
Mr. Ashwani Puri | Ind. Non-Executive Director |
Ms. Mary Beth Boucher | Ind. Non-Executive Director |
Coforge Ltd. Share Price Update |
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Share Price | Value |
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Today | ₹5,692.90 |
Previous Day | ₹5,564.35 |
Basic Stock Data of Coforge Ltd
Market Cap | 35,016 Cr. |
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Current Price | 5,684 |
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High / Low | 5,846/3,565 |
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Stock P/E | 48.3 |
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Book Value | 541 |
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Dividend Yield | 1.16 % |
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ROCE | 30.8 % |
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ROE | 25.1 % |
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Face Value | 10.0 |
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Coforge Ltd Quarterly Results
Month | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
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Sales | 1,154 | 1,191 | 1,262 | 1,462 | 1,569 | 1,658 | 1,743 | 1,829 | 1,959 | 2,056 | 2,170 | 2,221 | 2,276 |
Expenses | 955 | 989 | 1,052 | 1,250 | 1,295 | 1,355 | 1,430 | 1,541 | 1,622 | 1,696 | 1,874 | 1,915 | 1,935 |
Operating Profit | 199 | 202 | 210 | 211 | 275 | 303 | 312 | 289 | 337 | 360 | 296 | 306 | 341 |
OPM % | 17% | 17% | 17% | 14% | 18% | 18% | 18% | 16% | 17% | 17% | 14% | 14% | 15% |
Other Income | 4 | 5 | 16 | 16 | 8 | 5 | 23 | 14 | 14 | 32 | -50 | 16 | 9 |
Interest | 4 | 3 | 3 | 12 | 16 | 18 | 18 | 18 | 21 | 22 | 20 | 22 | 32 |
Depreciation | 46 | 46 | 45 | 52 | 60 | 57 | 58 | 63 | 61 | 62 | 72 | 76 | 77 |
Profit before tax | 152 | 157 | 178 | 163 | 206 | 233 | 259 | 221 | 268 | 307 | 155 | 224 | 241 |
Tax % | 20% | 21% | 23% | 20% | 22% | 15% | 13% | 22% | 18% | 23% | 25% | 22% | 22% |
Net Profit | 122 | 124 | 137 | 131 | 162 | 197 | 225 | 172 | 221 | 236 | 117 | 176 | 188 |
EPS in Rs | 19.93 | 20.14 | 21.95 | 20.40 | 24.20 | 30.17 | 34.10 | 24.58 | 32.99 | 37.37 | 18.79 | 27.06 | 29.61 |
Coforge Ltd Quarterly Chart
Coforge Ltd Profit & Loss
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
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Sales | 1,576 | 2,021 | 2,305 | 2,372 | 2,688 | 2,802 | 2,991 | 3,676 | 4,184 | 4,663 | 6,432 | 8,015 | 8,723 |
Expenses | 1,306 | 1,688 | 1,950 | 2,036 | 2,214 | 2,322 | 2,489 | 3,026 | 3,459 | 3,882 | 5,330 | 6,733 | 7,421 |
Operating Profit | 271 | 333 | 355 | 337 | 474 | 480 | 502 | 650 | 725 | 781 | 1,102 | 1,282 | 1,302 |
OPM % | 17% | 16% | 15% | 14% | 18% | 17% | 17% | 18% | 17% | 17% | 17% | 16% | 15% |
Other Income | 30 | 23 | 30 | -64 | 20 | 4 | 38 | 46 | 59 | 13 | 52 | 8 | 7 |
Interest | 4 | 5 | 4 | 6 | 8 | 6 | 9 | 9 | 16 | 14 | 65 | 81 | 95 |
Depreciation | 36 | 57 | 62 | 92 | 121 | 128 | 127 | 125 | 173 | 184 | 227 | 258 | 287 |
Profit before tax | 260 | 293 | 318 | 176 | 365 | 351 | 404 | 562 | 595 | 596 | 862 | 951 | 927 |
Tax % | 24% | 26% | 25% | 31% | 21% | 22% | 24% | 25% | 21% | 22% | 17% | 22% | |
Net Profit | 196 | 218 | 238 | 122 | 287 | 272 | 309 | 422 | 468 | 466 | 715 | 745 | 716 |
EPS in Rs | 33.08 | 35.40 | 37.98 | 18.69 | 44.13 | 40.76 | 45.59 | 65.28 | 71.05 | 75.19 | 108.65 | 113.58 | 112.63 |
Dividend Payout % | 24% | 24% | 24% | 51% | 23% | 31% | 33% | 0% | 44% | 17% | 48% | 56% | |
Coforge Ltd Profit & Loss Yearly Chart
Coforge Ltd Growth
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Compounded Sales Growth |
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10 Years:: | 15% |
5 Years:: | 22% |
3 Years:: | 24% |
TTM:: | 21% |
Coforge Ltd Growth
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Compounded Profit Growth |
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10 Years:: | 13% |
5 Years:: | 21% |
3 Years:: | 18% |
TTM:: | -2% |
Coforge Ltd Growth
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Stock Price CAGR |
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10 Years:: | 33% |
5 Years:: | 39% |
3 Years:: | 33% |
1 Year:: | 42% |
Coforge Ltd Growth
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Return on Equity |
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10 Years:: | 20% |
5 Years:: | 22% |
3 Years:: | 23% |
Last Year:: | 25% |
Coforge Ltd Balance Sheet
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
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Equity Capital | 60 | 60 | 61 | 61 | 61 | 61 | 62 | 62 | 62 | 61 | 61 | 61 | 62 |
Reserves | 850 | 1,034 | 1,263 | 1,296 | 1,511 | 1,625 | 1,712 | 2,010 | 2,334 | 2,406 | 2,672 | 3,021 | 3,266 |
Borrowings | 52 | 10 | 9 | 9 | 10 | 25 | 22 | 14 | 35 | 83 | 490 | 562 | 1,209 |
Other Liabilities | 365 | 435 | 468 | 611 | 702 | 695 | 828 | 748 | 968 | 935 | 1,655 | 1,980 | 1,548 |
Total Liabilities | 1,326 | 1,539 | 1,801 | 1,977 | 2,285 | 2,407 | 2,624 | 2,834 | 3,400 | 3,484 | 4,878 | 5,625 | 6,085 |
Fixed Assets | 423 | 438 | 453 | 558 | 903 | 848 | 879 | 819 | 1,079 | 1,021 | 2,067 | 2,312 | 2,351 |
CWIP | 0 | 28 | 129 | 120 | 17 | 0 | 1 | 1 | 0 | 0 | 17 | 5 | 6 |
Investments | 55 | 82 | 55 | 55 | 75 | 316 | 365 | 365 | 14 | 12 | 0 | 0 | 0 |
Other Assets | 848 | 991 | 1,164 | 1,243 | 1,291 | 1,244 | 1,379 | 1,649 | 2,307 | 2,451 | 2,794 | 3,309 | 3,728 |
Total Assets | 1,326 | 1,539 | 1,801 | 1,977 | 2,285 | 2,407 | 2,624 | 2,834 | 3,400 | 3,484 | 4,878 | 5,625 | 6,085 |
Coforge Ltd Reserves and Borrowings Chart
Coforge Ltd Cash Flow
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
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Cash from Operating Activity | 164 | 235 | 145 | 258 | 360 | 472 | 382 | 453 | 297 | 762 | 766 | 950 |
Cash from Investing Activity | -87 | -107 | -78 | -184 | -223 | -343 | -248 | -237 | 136 | -86 | -963 | -269 |
Cash from Financing Activity | -17 | -91 | -53 | -66 | -73 | -67 | -74 | -106 | -133 | -696 | -156 | -558 |
Net Cash Flow | 61 | 37 | 14 | 7 | 64 | 62 | 60 | 109 | 300 | -20 | -353 | 123 |
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Coforge Ltd Financial Efficiency Indicators
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
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Debtor Days | 77 | 82 | 89 | 93 | 80 | 61 | 71 | 58 | 75 | 84 | 79 | 73 |
Inventory Days | | 13 | 12 | | | | | | | | | |
Days Payable | | 519 | 361 | | | | | | | | | |
Cash Conversion Cycle | 77 | -424 | -260 | 93 | 80 | 61 | 71 | 58 | 75 | 84 | 79 | 73 |
Working Capital Days | 50 | 57 | 70 | 48 | 64 | 38 | 30 | 37 | 38 | 36 | 37 | 15 |
ROCE % | 30% | 28% | 26% | 19% | 25% | 23% | 23% | 30% | 27% | 25% | 32% | 31% |
Coforge Ltd Financial Efficiency Indicators Chart
Coforge Ltd Share Holding Pattern
Month | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
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Promoters | 63.99% | 63.99% | 55.73% | 50.18% | 49.97% | 40.09% | 40.09% | 40.06% | 39.99% | 30.16% | 26.63% | 0.00% |
FIIs | 14.44% | 14.62% | 19.42% | 20.67% | 19.12% | 22.40% | 21.87% | 21.02% | 21.30% | 25.40% | 24.78% | 34.37% |
DIIs | 12.21% | 11.85% | 14.93% | 18.64% | 20.29% | 25.68% | 25.88% | 26.45% | 26.73% | 32.20% | 37.20% | 54.28% |
Public | 9.36% | 9.54% | 9.92% | 10.50% | 10.62% | 11.83% | 12.16% | 12.47% | 11.97% | 12.23% | 11.39% | 11.35% |
No. of Shareholders | 52,563 | 51,906 | 68,975 | 94,561 | 1,04,250 | 1,42,049 | 1,50,308 | 1,63,779 | 1,53,393 | 1,46,685 | 1,33,646 | 1,23,330 |
Coforge Ltd Shareholding Pattern Chart
No. of Coforge Ltd Shareholders
Coforge Ltd Mutual Fund Holdings
Fund Name | No of Shares | AUM (%) | Amount Invested (Cr) |
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HDFC Mid-Cap Opportunities Fund - Regular Plan | 2196467 | 2.3 | 1121.18 |
UTI Flexi Cap Fund | 1465194 | 2.94 | 747.9 |
Motilal Oswal Flexi Cap Fund | 925000 | 5.79 | 472.16 |
Axis Midcap Fund | 848144 | 1.91 | 432.93 |
SBI Large & Midcap Fund | 741000 | 2.41 | 378.24 |
Mirae Asset Emerging Bluechip Fund | 704215 | 1.24 | 359.46 |
Motilal Oswal Midcap Fund | 700000 | 6 | 357.31 |
HDFC Flexi Cap Fund - Regular Plan | 675000 | 0.87 | 344.55 |
DSP Mid Cap Fund | 642812 | 2.18 | 328.12 |
SBI Long Term Equity Fund | 585000 | 1.84 | 298.61 |
Coforge Ltd Key Financial Ratios
Month | Mar 23 | Mar 22 | Mar 21 | Mar 20 | Mar 19 |
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FaceValue | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Basic EPS (Rs.) | 113.77 | 109.02 | 74.68 | 71.39 | 65.49 |
Diluted EPS (Rs.) | 111.53 | 106.52 | 73.29 | 70.97 | 64.73 |
Cash EPS (Rs.) | 164.26 | 154.66 | 107.19 | 102.50 | 88.50 |
Book Value[Excl.RevalReserv]/Share (Rs.) | 518.80 | 464.93 | 406.95 | 383.44 | 336.54 |
Book Value[Incl.RevalReserv]/Share (Rs.) | 518.80 | 464.93 | 406.95 | 383.44 | 336.54 |
Revenue From Operations / Share (Rs.) | 1311.72 | 1056.16 | 769.44 | 669.42 | 594.85 |
PBDIT / Share (Rs.) | 219.74 | 189.44 | 134.01 | 126.56 | 113.59 |
PBIT / Share (Rs.) | 177.43 | 152.13 | 103.71 | 98.88 | 93.40 |
PBT / Share (Rs.) | 155.68 | 141.46 | 98.38 | 95.26 | 91.00 |
Net Profit / Share (Rs.) | 121.95 | 117.36 | 76.90 | 74.82 | 68.30 |
NP After MI And SOA / Share (Rs.) | 113.55 | 108.65 | 75.18 | 71.04 | 65.26 |
PBDIT Margin (%) | 16.75 | 17.93 | 17.41 | 18.90 | 19.09 |
PBIT Margin (%) | 13.52 | 14.40 | 13.47 | 14.77 | 15.70 |
PBT Margin (%) | 11.86 | 13.39 | 12.78 | 14.23 | 15.29 |
Net Profit Margin (%) | 9.29 | 11.11 | 9.99 | 11.17 | 11.48 |
NP After MI And SOA Margin (%) | 8.65 | 10.28 | 9.77 | 10.61 | 10.97 |
Return on Networth / Equity (%) | 22.50 | 24.21 | 18.47 | 18.52 | 19.46 |
Return on Capital Employeed (%) | 27.48 | 24.54 | 23.53 | 23.35 | 25.57 |
Return On Assets (%) | 12.20 | 13.35 | 12.96 | 12.90 | 14.03 |
Long Term Debt / Equity (X) | 0.10 | 0.12 | 0.00 | 0.00 | 0.00 |
Total Debt / Equity (X) | 0.10 | 0.12 | 0.00 | 0.00 | 0.00 |
Asset Turnover Ratio (%) | 0.96 | 0.98 | 0.84 | 0.85 | 0.85 |
Current Ratio (X) | 1.50 | 1.88 | 2.53 | 2.71 | 3.10 |
Quick Ratio (X) | 1.50 | 1.88 | 2.53 | 2.71 | 3.10 |
Dividend Payout Ratio (NP) (%) | 50.98 | 47.68 | 15.07 | 28.13 | 22.61 |
Dividend Payout Ratio (CP) (%) | 37.14 | 35.49 | 10.74 | 20.24 | 17.26 |
Earning Retention Ratio (%) | 49.02 | 52.32 | 84.93 | 71.87 | 77.39 |
Cash Earning Retention Ratio (%) | 62.86 | 64.51 | 89.26 | 79.76 | 82.74 |
Interest Coverage Ratio (%) | 16.66 | 17.75 | 56.79 | 51.03 | 76.30 |
Interest Coverage Ratio (Post Tax) (%) | 10.89 | 12.00 | 34.85 | 31.63 | 47.49 |
Enterprise Value (Cr.) | 23170.60 | 27122.64 | 16939.86 | 6277.34 | 7648.71 |
EV / Net Operating Revenue (X) | 2.89 | 4.22 | 3.63 | 1.50 | 2.08 |
EV / EBITDA (X) | 17.26 | 23.51 | 20.86 | 7.94 | 10.90 |
MarketCap / Net Operating Revenue (X) | 2.91 | 4.22 | 3.81 | 1.72 | 2.23 |
Retention Ratios (%) | 49.01 | 52.31 | 84.92 | 71.86 | 77.38 |
Price / BV (X) | 7.57 | 9.92 | 7.20 | 2.99 | 3.95 |
Price / Net Operating Revenue (X) | 2.91 | 4.22 | 3.81 | 1.72 | 2.23 |
EarningsYield | 0.02 | 0.02 | 0.02 | 0.06 | 0.04 |
Coforge Ltd Profitability Ratios (%)
Coforge Ltd Liquidity Ratios
Coforge Ltd Liquidity Ratios (%)
Coforge Ltd Interest Coverage Ratios (%)
Coforge Ltd Valuation Ratios
Fair Value of Coforge Ltd Stock
Fair Value: ₹6634.79
The stock is undervalued by 16.73% compared to the current price ₹5684
*This is not Investment Advice
Strength and Weakness of Coforge Ltd Stock
Strength | Weakness |
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The company has shown consistent growth in sales and profit over the years. | The stock has a low average ROCE, which may not be favorable. The stock has a high average Working Capital Days, which may not be favorable. The stock has a high average Cash Conversion Cycle, which may not be favorable. The company has higher borrowings compared to reserves, which may suggest financial risk. |