Dolat Algotech Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:05 am

Market Cap	2,265 Cr.
Current Price	129
High / Low	186/59.2
Stock P/E	9.14
Book Value	52.9
Dividend Yield	0.19 %
ROCE	27.7 %
ROE	22.0 %
Face Value	1.00
PEG Ratio	1.14

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
Multipurpose Trading & Agencies Ltd	5.23 Cr.	10.6	13.3/7.81	29.1	10.2	0.00 %	4.44 %	3.91 %	10.0
Munoth Financial Services Ltd	34.4 Cr.	67.0	81.3/54.6		21.2	0.00 %	1.71 %	1.79 %	10.0
Nam Securities Ltd	72.5 Cr.	134	198/65.6	201	21.2	0.00 %	4.16 %	3.05 %	10.0
Naperol Investments Ltd	733 Cr.	1,275	2,041/801	748	3,204	0.00 %	0.08 %	0.05 %	10.0
Inani Securities Ltd	13.2 Cr.	29.0	42.0/20.5	9.10	42.2	0.00 %	10.6 %	6.92 %	10.0
Industry Average	6,895.83 Cr	1,836.48		3,514.44	5,415.95	0.31%	15.08%	16.58%	7.38

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	70	57	48	58	49	54	43	8	36	52	59	117	123
Expenses	10	13	13	13	13	16	15	15	14	20	23	23	24
Operating Profit	60	44	34	45	36	38	28	-6	22	31	36	94	99
OPM %	85%	77%	72%	78%	73%	70%	66%	-77%	62%	61%	61%	80%	80%
Other Income	7	8	22	21	19	19	17	19	0	19	22	0	0
Interest	6	7	5	6	7	5	7	6	6	6	7	8	9
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	61	44	51	60	47	52	37	6	15	44	51	85	89
Tax %	25%	23%	20%	20%	18%	20%	21%	-9%	17%	21%	19%	20%	20%
Net Profit	45	34	41	48	38	41	30	7	13	35	41	68	72
EPS in Rs	2.58	1.92	2.31	2.70	2.17	2.35	1.68	0.39	0.73	1.99	2.35	3.87	4.07

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 23, 2024, 2:40 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	217	182	34	89	83	139	116	93	219	262	190	264	351
Expenses	205	226	29	85	81	95	33	21	34	47	55	75	90
Operating Profit	12	-43	5	4	2	43	83	72	185	215	135	188	261
OPM %	5%	-24%	15%	5%	2%	31%	71%	77%	85%	82%	71%	71%	74%
Other Income	0	0	0	0	0	4	0	29	29	27	37	42	42
Interest	0	0	0	0	0	0	5	16	28	27	30	33	31
Depreciation	0	0	0	0	0	0	0	0	0	0	1	1	1
Profit before tax	12	-43	5	4	2	47	78	85	186	215	142	196	270
Tax %	32%	-33%	31%	30%	24%	34%	35%	17%	21%	22%	18%	20%
Net Profit	8	-29	3	3	1	31	51	71	147	167	116	157	216
EPS in Rs	0.45	-1.65	0.19	0.17	0.08	1.77	2.87	4.04	8.34	9.51	6.59	8.94	12.28
Dividend Payout %	0%	0%	0%	0%	0%	0%	3%	2%	2%	2%	4%	3%

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 (%)	-462.50%	110.34%	0.00%	-66.67%	3000.00%	64.52%	39.22%	107.04%	13.61%	-30.54%	35.34%
Change in YoY Net Profit Growth (%)	0.00%	572.84%	-110.34%	-66.67%	3066.67%	-2935.48%	-25.30%	67.83%	-93.44%	-44.14%	65.88%

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:	4%
5 Years:	18%
3 Years:	6%
TTM:	166%

Compounded Profit Growth
10 Years:	22%
5 Years:	25%
3 Years:	2%
TTM:	194%

Stock Price CAGR
10 Years:	51%
5 Years:	14%
3 Years:	15%
1 Year:	104%

Return on Equity
10 Years:	28%
5 Years:	30%
3 Years:	25%
Last Year:	22%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 4:37 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	18	18	18	18	18	18	18	18	18	18	18	18	18
Reserves	75	46	49	52	53	85	133	202	346	510	622	774	913
Borrowings	0	0	0	0	0	0	0	10	114	175	140	84	374
Other Liabilities	3	4	1	1	0	1	11	18	19	57	22	32	61
Total Liabilities	95	67	67	70	71	103	161	247	497	759	801	908	1,366
Fixed Assets	0	0	0	0	0	0	0	0	1	1	1	4	5
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	7	3	16	9	52	84	204	25	41	70	90	174
Other Assets	95	59	65	54	62	51	77	42	472	717	730	814	1,186
Total Assets	95	67	67	70	71	103	161	247	497	759	801	908	1,366

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 +	-16	14	-18	13	-7	44	41	122	163	109	46	-45
Cash from Investing Activity +	0	-7	5	-14	7	-2	0	-27	-337	-104	-43	55
Cash from Financing Activity +	0	0	0	0	0	0	-7	-2	-3	-4	-4	-4
Net Cash Flow	-16	7	-14	-0	0	42	34	93	-176	1	-2	6

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	12.00	-43.00	5.00	4.00	2.00	43.00	83.00	62.00	71.00	40.00	-5.00	104.00

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	52	3	113	53	-0	-0	-0	-0	-0	-0	-0	-0
Inventory Days	101	43	552	72	203	-0
Days Payable	0	-0	4	-0	1
Cash Conversion Cycle	153	46	661	125	202	-0	-0	-0	-0	-0	-0	-0
Working Capital Days	145	55	545	171	223	129	198	-52	140	449	627	499
ROCE %	13%	-55%	8%	6%	3%	50%	65%	53%	60%	41%	23%	28%

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	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%
FIIs	0.12%	0.02%	0.07%	0.08%	0.01%	0.08%	0.01%	0.01%	0.01%	0.02%	0.08%	0.89%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%
Public	25.40%	25.50%	25.44%	25.44%	25.50%	25.44%	25.51%	25.50%	25.51%	25.49%	25.44%	24.57%
No. of Shareholders	35,331	39,238	42,091	43,334	42,457	41,833	40,905	40,988	39,036	43,983	50,440	55,553

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	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	8.94	6.59	9.51	8.35	4.05
Diluted EPS (Rs.)	8.94	6.59	9.51	8.35	4.05
Cash EPS (Rs.)	9.03	6.65	9.55	8.37	4.05
Book Value[Excl.RevalReserv]/Share (Rs.)	45.06	36.36	30.00	20.68	12.49
Book Value[Incl.RevalReserv]/Share (Rs.)	45.06	36.36	30.00	20.68	12.49
Revenue From Operations / Share (Rs.)	18.83	13.71	16.64	15.06	8.88
PBDIT / Share (Rs.)	14.16	10.79	14.55	12.90	6.69
PBIT / Share (Rs.)	14.09	10.75	14.53	12.88	6.69
PBT / Share (Rs.)	12.47	9.24	13.09	11.44	5.77
Net Profit / Share (Rs.)	8.96	6.61	9.53	8.35	4.05
NP After MI And SOA / Share (Rs.)	8.94	6.59	9.51	8.34	4.04
PBDIT Margin (%)	75.16	78.66	87.44	85.65	75.33
PBIT Margin (%)	74.81	78.36	87.32	85.54	75.31
PBT Margin (%)	66.23	67.35	78.70	75.97	64.95
Net Profit Margin (%)	47.58	48.21	57.27	55.46	45.65
NP After MI And SOA Margin (%)	47.46	48.06	57.17	55.35	45.46
Return on Networth / Equity (%)	19.86	18.14	31.73	40.33	32.34
Return on Capital Employeed (%)	31.19	29.48	48.37	61.81	53.52
Return On Assets (%)	16.81	14.41	21.88	29.34	28.06
Total Debt / Equity (X)	0.10	0.21	0.33	0.31	0.04
Asset Turnover Ratio (%)	0.38	0.30	0.36	0.52	0.42
Current Ratio (X)	3.19	2.59	1.81	0.97	5.87
Quick Ratio (X)	3.19	2.59	1.81	0.97	5.87
Dividend Payout Ratio (NP) (%)	2.79	3.79	2.10	1.79	2.47
Dividend Payout Ratio (CP) (%)	2.77	3.77	2.09	1.79	2.47
Earning Retention Ratio (%)	97.21	96.21	97.90	98.21	97.53
Cash Earning Retention Ratio (%)	97.23	96.23	97.91	98.21	97.53
Interest Coverage Ratio (X)	8.76	7.14	10.14	8.95	7.27
Interest Coverage Ratio (Post Tax) (X)	6.55	5.38	7.64	6.80	5.40
Enterprise Value (Cr.)	1280.69	883.77	1661.22	1269.88	620.36
EV / Net Operating Revenue (X)	3.86	3.66	5.67	4.79	3.97
EV / EBITDA (X)	5.14	4.66	6.49	5.59	5.27
MarketCap / Net Operating Revenue (X)	3.63	3.08	5.09	4.65	3.95
Retention Ratios (%)	97.20	96.20	97.89	98.20	97.52
Price / BV (X)	1.52	1.16	2.82	3.39	2.81
Price / Net Operating Revenue (X)	3.63	3.08	5.09	4.65	3.95
EarningsYield	0.13	0.15	0.11	0.11	0.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 106.57

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 Overvalued by 17.39% compared to the current share price 129.00

Intrinsic Value of as of December 22, 2024 is: 115.14

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 Overvalued by 10.74% compared to the current share price 129.00

Last 5 Year EPS CAGR: 8.05%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 24.58%, which is a positive sign. The company has higher reserves (296.92 cr) compared to borrowings (69.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (172.23 cr) and profit (92.23 cr) over the years.	The stock has a high average Working Capital Days of 260.75, which may not be favorable. The stock has a high average Cash Conversion Cycle of 98.92, 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: 47.58%
  - 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: 31.19% (Industry Average ROCE: 15.08%)
  - 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%: 19.86% (Industry Average ROE: 16.58%)
  - 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): 6.55
  - 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: 3.19
  - 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: 9.14 (Industry average Stock P/E: 3)
  - 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: 0.1
  - 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

Dolat Algotech Ltd. is a Public Limited Listed company incorporated on 24/02/1983 and has its registered office in the State of Daman & Diu, India. Company’s Corporate Identification Number(CIN) is L67100GJ1983PLC126089 and registration number is 004760. Currently Company is involved in the business activities of Security and commodity contracts brokerage. Company’s Total Operating Revenue is Rs. 231.76 Cr. and Equity Capital is Rs. 17.60 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Finance & Investments	1401-1409, Dalal Street Commercial Co-op Soc Ltd, Block 53 (Bldg No.53E) Zone-5, Road-5E, Gift city, Gandhinagar Gujarat 382355	investor@dolatalgotech.in http://www.dolatalgotech.in

Management
Name	Position Held
Mr. Harendra D Shah	Chairman
Mr. Pankaj D Shah	Managing Director
Mr. Shailesh D Shah	Director
Mr. Sunil P Shah	Independent Director
Mr. Shailesh K Nayak	Independent Director
Ms. Monika A Singhania	Independent Director
Mr. Thomas Ritaldo Fernandes	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹106.57, which is 17.39% lower than the current market price of ₹129.00. The stock has a market capitalization of 2,265 Cr. and recorded a high/low of 186/59.2 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹913 Cr and total liabilities of ₹1,366 Cr.

What is the Market Cap of ?

The Market Cap of is 2,265 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 129.

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

In FY 2024-2025, the High / Low of stocks is 186/59.2.

What is the Stock P/E of ?

The Stock P/E of is 9.14.

What is the Book Value of ?

The Book Value of is 52.9.

What is the Dividend Yield of ?

The Dividend Yield of is 0.19 %.

What is the ROCE of ?

The ROCE of is 27.7 %.

What is the ROE of ?

The ROE of is 22.0 %.

What is the Face Value of ?

The Face Value of is 1.00.