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Last Updated: March 31, 2026, 4:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532042 | NSE: FRONTCORP

Frontline Corporation Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹20.13Overvalued by 20.12%vs CMP ₹25.20

P/E (5.1) × ROE (14.6%) × BV (₹33.00) × DY (2.00%)

₹68.03Undervalued by 169.96%vs CMP ₹25.20
MoS: +63% (Strong)Confidence: 53/100 (Moderate)Models: 5 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹22.3733%Over (-11.2%)
Graham NumberEarnings₹60.4424%Under (+139.8%)
Net Asset ValueAssets₹34.0011%Under (+34.9%)
Earnings YieldEarnings₹49.2011%Under (+95.2%)
ROCE CapitalReturns₹216.5713%Under (+759.4%)
Revenue MultipleRevenue₹104.008%Under (+312.7%)
Consensus (6 models)₹68.03100%Undervalued
Key Drivers: Wide model spread (₹22–₹217) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.2%

*Investments are subject to market risks

Investment Snapshot

53
Frontline Corporation Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health42/100 · Moderate
ROCE 4.7% WeakROE 14.6% GoodD/E 7.08 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 47.2% Stable
Earnings Quality50/100 · Moderate
OPM stable around 1% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +16% YoY GrowingProfit (4Q): +9% YoY Positive
Industry Rank65/100 · Strong
P/E 5.1 vs industry 16.3 Cheaper than peersROCE 4.7% vs industry 12.0% Below peersROE 14.6% vs industry 10.8% Above peers3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: March 31, 2026, 4:38 am

Market Cap 12.6 Cr.
Current Price 25.2
Intrinsic Value₹68.03
High / Low 61.5/25.0
Stock P/E5.12
Book Value 33.0
Dividend Yield0.00 %
ROCE4.73 %
ROE14.6 %
Face Value 10.0
PEG Ratio0.46

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

View Share Price Target for Frontline Corporation Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Frontline Corporation Ltd 12.6 Cr. 25.2 61.5/25.05.12 33.00.00 %4.73 %14.6 % 10.0
Coastal Roadways Ltd 10.9 Cr. 26.2 42.9/26.26.94 58.60.00 %9.25 %6.35 % 10.0
Maheshwari Logistics Ltd 130 Cr. 44.1 65.0/39.06.96 69.90.00 %12.6 %9.27 % 10.0
Transport Corporation of India Ltd (TCI) 7,130 Cr. 929 1,299/88115.9 3120.97 %20.5 %19.8 % 2.00
Globe International Carriers Ltd 456 Cr. 40.7 52.4/20.646.6 8.190.00 %11.2 %8.51 % 5.00
Industry Average2,572.00 Cr126.4616.30119.060.20%12.03%10.77%8.56

All Competitor Stocks of Frontline Corporation Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 19.6020.5622.8421.2721.1822.5624.8625.2625.3428.5031.4925.8627.96
Expenses 18.6421.4822.8220.9421.0223.0224.4324.5824.5628.1430.7025.2127.38
Operating Profit 0.96-0.920.020.330.16-0.460.430.680.780.360.790.650.58
OPM % 4.90%-4.47%0.09%1.55%0.76%-2.04%1.73%2.69%3.08%1.26%2.51%2.51%2.07%
Other Income 0.732.220.730.790.870.960.781.070.811.700.730.810.78
Interest 0.010.080.010.010.020.180.210.200.180.250.220.200.18
Depreciation 0.410.420.420.420.380.380.470.490.490.740.560.540.58
Profit before tax 1.270.800.320.690.63-0.060.531.060.921.070.740.720.60
Tax % 24.41%21.25%59.38%37.68%34.92%-533.33%28.30%13.21%23.91%17.76%22.97%25.00%21.67%
Net Profit 0.970.630.140.420.410.250.390.910.710.880.570.550.46
EPS in Rs 1.941.260.280.840.820.500.781.821.421.761.141.100.92

Last Updated: March 3, 2026, 9:48 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:25 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4238384344474859727788104114
Expenses 4036384644475058717688102111
Operating Profit 210-2-0-1-2101022
OPM % 5%3%1%-5%-0%-1%-4%1%0%1%0%2%2%
Other Income 43110433344344
Interest 6555111000011
Depreciation 2111122222222
Profit before tax -1-2-512-1-1124243
Tax % -87%-11%-18%33%17%-35%-16%12%21%23%22%19%
Net Profit -0-2-412-0-1113132
EPS in Rs -0.34-3.66-8.501.703.84-0.66-1.982.302.905.422.445.784.92
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-100.00%125.00%100.00%-100.00%200.00%0.00%200.00%-66.67%200.00%
Change in YoY Net Profit Growth (%)0.00%225.00%-25.00%-200.00%300.00%-200.00%200.00%-266.67%266.67%

Frontline Corporation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:16%
3 Years:13%
TTM:23%
Compounded Profit Growth
10 Years:11%
5 Years:32%
3 Years:12%
TTM:109%
Stock Price CAGR
10 Years:%
5 Years:34%
3 Years:40%
1 Year:-3%
Return on Equity
10 Years:4%
5 Years:15%
3 Years:14%
Last Year:15%

Last Updated: September 5, 2025, 3:30 pm

Balance Sheet

Last Updated: March 3, 2026, 2:59 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5555555555555
Reserves 751022124681012
Borrowings 38453951545353524949575756
Other Liabilities 241932171515106668910
Total Liabilities 74737773777568656366778282
Fixed Assets 27262832353334323130343534
CWIP 0000000001201
Investments 7770000112102
Other Assets 40404240414135323234404646
Total Assets 74737773777568656366778282

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2-2144-00002-1-20
Cash from Investing Activity + 8-0-21-212201-51
Cash from Financing Activity + -92-12-53-1-1-2-308-1
Net Cash Flow 0-00-00-010-0-001
Free Cash Flow 1-2114-40-2-02-1-10-0
CFO/OP 84%-146%5,544%-170%-733%-129%-33%81%756%54%-5,567%31%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-36.00-44.00-39.00-53.00-54.00-54.00-55.00-51.00-49.00-48.00-57.00-55.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 757466778266575742393839
Inventory Days 169213208130141142884035474853
Days Payable 242200642032161921003824242832
Cash Conversion Cycle 1862094716455953615960
Working Capital Days -291-365-348-273-246-237-252-204-161-147-136-108
ROCE %4%5%0%11%4%-0%-1%3%4%4%2%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 48.63%48.63%48.63%48.63%48.63%48.62%47.76%47.74%47.74%47.57%47.19%47.18%
Public 51.36%51.37%51.36%51.36%51.37%51.37%52.25%52.25%52.26%52.42%52.81%52.80%
No. of Shareholders 9619549901,1971,1901,2601,2691,3141,3401,3781,4131,407

Shareholding Pattern Chart

No. of Shareholders

Frontline Corporation Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 5.802.445.442.912.30
Diluted EPS (Rs.) 5.802.445.442.912.30
Cash EPS (Rs.) 10.215.678.656.436.34
Book Value[Excl.RevalReserv]/Share (Rs.) 30.9225.1122.7717.2514.36
Book Value[Incl.RevalReserv]/Share (Rs.) 30.9225.1122.7717.2514.36
Revenue From Operations / Share (Rs.) 208.85176.49154.04144.14117.74
PBDIT / Share (Rs.) 13.286.8310.517.787.51
PBIT / Share (Rs.) 8.873.597.304.263.47
PBT / Share (Rs.) 7.183.157.093.702.62
Net Profit / Share (Rs.) 5.802.445.442.912.30
PBDIT Margin (%) 6.353.866.825.396.37
PBIT Margin (%) 4.242.034.742.952.94
PBT Margin (%) 3.441.784.592.562.22
Net Profit Margin (%) 2.771.383.532.021.95
Return on Networth / Equity (%) 18.779.7223.9016.8816.04
Return on Capital Employeed (%) 19.518.4329.1923.0017.80
Return On Assets (%) 3.521.574.072.281.77
Long Term Debt / Equity (X) 0.470.690.090.070.35
Total Debt / Equity (X) 3.724.564.345.697.08
Asset Turnover Ratio (%) 1.311.221.181.120.88
Current Ratio (X) 0.510.540.480.440.44
Quick Ratio (X) 0.330.380.350.350.36
Inventory Turnover Ratio (X) 10.790.000.000.000.00
Interest Coverage Ratio (X) 7.8815.2448.3413.758.86
Interest Coverage Ratio (Post Tax) (X) 4.446.4526.046.153.72
Enterprise Value (Cr.) 76.1275.3560.4661.4154.17
EV / Net Operating Revenue (X) 0.730.850.780.850.92
EV / EBITDA (X) 11.5222.1811.5615.8714.49
MarketCap / Net Operating Revenue (X) 0.190.210.150.180.08
Price / BV (X) 1.331.551.071.570.67
Price / Net Operating Revenue (X) 0.190.210.150.180.08
EarningsYield 0.140.060.220.100.23

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Frontline Corporation Ltd. is a Public Limited Listed company incorporated on 04/12/1989 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L63090WB1989PLC099645 and registration number is 013078. Currently Company is involved in the business activities of Air transport. Company's Total Operating Revenue is Rs. 103.96 Cr. and Equity Capital is Rs. 4.98 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Transport - Road4, B.B.D Bag (East), Stephen House, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. Ram Prasad AgarwalChairman & Director
Mr. Pawan Kumar AgarwalManaging Director
Mr. Narayan Prasad AgarwalDirector
Mr. Saurabh JhunjhunwalaDirector
Mrs. Dipika Pradeep SoniIndependent Woman Director
Mr. Dipen Ashit DalalIndependent Director
Ms. Aarefa Kutub KapasiIndependent Woman Director
Mrs. Ummay Amen MashraqiIndependent Woman Director

FAQ

What is the intrinsic value of Frontline Corporation Ltd and is it undervalued?

As of 15 April 2026, Frontline Corporation Ltd's intrinsic value is ₹68.03, which is 169.96% higher than the current market price of ₹25.20, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (14.6 %), book value (₹33.0), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Frontline Corporation Ltd?

Frontline Corporation Ltd is trading at ₹25.20 as of 15 April 2026, with a FY2026-2027 high of ₹61.5 and low of ₹25.0. The stock is currently near its 52-week low. Market cap stands at ₹12.6 Cr..

How does Frontline Corporation Ltd's P/E ratio compare to its industry?

Frontline Corporation Ltd has a P/E ratio of 5.12, which is below the industry average of 16.30. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Frontline Corporation Ltd financially healthy?

Key indicators for Frontline Corporation Ltd: ROCE of 4.73 % is on the lower side compared to the industry average of 12.03%. Dividend yield is 0.00 %.

Is Frontline Corporation Ltd profitable and how is the profit trend?

Frontline Corporation Ltd reported a net profit of ₹3 Cr in Mar 2025 on revenue of ₹104 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Frontline Corporation Ltd pay dividends?

Frontline Corporation Ltd has a dividend yield of 0.00 % at the current price of ₹25.20. The company is currently not paying meaningful dividends.

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 Frontline Corporation 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
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