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Last Updated on: 03 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

IRB Infrastructure Developers Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 3, 2024, 9:53 pm

Market Cap 33,251 Cr.
Current Price 55.0
High / Low78.2/36.8
Stock P/E54.0
Book Value 23.1
Dividend Yield0.55 %
ROCE8.96 %
ROE4.38 %
Face Value 1.00
PEG Ratio-3.26

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

View Share Price Target for IRB Infrastructure Developers Ltd

Competitors of IRB Infrastructure Developers Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IITL Projects Ltd 37.2 Cr. 74.474.4/15.011.5 70.70.00 %%% 10.0
HB Estate Developers Ltd 181 Cr. 92.9125/41.024.3 80.10.00 %7.00 %2.39 % 10.0
Hazoor Multi Projects Ltd 1,072 Cr. 54.463.9/20.712.7 19.50.55 %%% 1.00
Gyan Developers & Builders Ltd 7.06 Cr. 23.533.8/6.74 12.70.00 %4.02 %3.75 % 10.0
GG Dandekar Properties Ltd 55.9 Cr. 118163/87.4 96.90.00 %1.27 %9.45 % 1.00
Industry Average18,837.95 Cr297.8546.60128.500.14%24.89%17.69%22.76

All Competitor Stocks of IRB Infrastructure Developers Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,5471,6061,6261,4651,2791,4341,9251,3431,5141,6201,6341,7451,969
Expenses8468759607836378528977027828989101,0261,150
Operating Profit7017316666826425811,027641732722724719819
OPM %45%46%41%47%50%41%53%48%48%45%44%41%42%
Other Income4845453921924971965679111130109
Interest441451468477547399385389367373381435433
Depreciation191177136165192189203192215222237233251
Profit before tax11614710779121242510155206205217182243
Tax %40%34%33%47%40%28%29%45%31%37%38%47%23%
Net Profit69977242731743638514113013496187
EPS in Rs0.200.280.200.120.120.290.600.140.230.220.220.160.31

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3,1333,6873,7323,8495,1285,8465,6946,7076,8525,2995,8046,4026,513
Expenses1,7572,0481,9731,6312,4612,7893,0053,7633,8872,9473,2293,2713,616
Operating Profit1,3761,6391,7592,2182,6673,0572,6892,9442,9652,3522,5753,1302,898
OPM %44%44%47%58%52%52%47%44%43%44%44%49%44%
Other Income123133120113127123295196252189552300376
Interest5506247609371,0701,3429761,1261,5741,6971,8941,5211,556
Depreciation297442477707853855544540468582683832907
Profit before tax6517076426868709841,4641,4731,1752625501,077810
Tax %24%22%28%21%26%27%37%42%39%55%34%33%
Net Profit496554460542640715920850721117361720501
EPS in Rs1.491.671.381.541.822.042.622.422.050.330.601.190.83
Dividend Payout %12%24%29%26%22%25%19%10%24%0%0%111%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)11.69%-16.97%17.83%18.08%11.72%28.67%-7.61%-15.18%-83.77%208.55%99.45%
Change in YoY Net Profit Growth (%)0.00%-28.66%34.79%0.26%-6.36%16.95%-36.28%-7.57%-68.60%292.32%-109.10%

IRB Infrastructure Developers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:2%
3 Years:12%
TTM:15%
Compounded Profit Growth
10 Years:3%
5 Years:-7%
3 Years:72%
TTM:23%
Stock Price CAGR
10 Years:8%
5 Years:51%
3 Years:34%
1 Year:45%
Return on Equity
10 Years:8%
5 Years:5%
3 Years:5%
Last Year:4%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 10:32 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital332332351351351351351351351604604604604
Reserves2,9233,2284,0094,4854,9205,3415,9646,3316,54911,96212,77513,14113,332
Borrowings8,77611,08412,57615,62613,96313,83216,5999,20519,21916,69716,74818,65318,838
Other Liabilities1,0341,05922,45321,69927,40620,86517,54923,99715,05213,21812,57512,47212,048
Total Liabilities13,06615,70439,39142,16246,64140,38940,46439,88541,17142,48142,70344,87044,822
Fixed Assets5,5098,55431,76435,14924,38831,07132,94327,67127,10227,27126,48025,51425,106
CWIP4,9164,4874,8354,0206,8065,6483,797403673638814
Investments62159361469456454,1464,7994,9045,1419,6429,213
Other Assets2,5792,6482,7832,95715,3012,7243,0797,6668,59710,24311,0749,70610,489
Total Assets13,06615,70439,39142,16246,64140,38940,46439,88541,17142,48142,70344,87044,822

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1,4451,6551,8232,3403,1922,1322,7103,7098673641,7644,054
Cash from Investing Activity +-2,243-2,394-2,297-3,144-2,981-2,621-4,081-4,932-8,176-1,553-650-3,644
Cash from Financing Activity +699925475671-2024101,4381,3887,520589-860-477
Net Cash Flow-991862-1339-7966165211-601253-68

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow1.00-7.00-10.00-10.00-13.00-10.00-11.00-14.00-7.00-17.00-14.00-13.00

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days11014862323629337
Inventory Days193195218304277294246261263
Days Payable244296196304622654296438607
Cash Conversion Cycle-49-101221486-321-33613-84-306
Working Capital Days-65-62-105-76-86-320-193-453-177914535
ROCE %12%10%10%10%12%12%12%14%9%9%9%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters58.46%34.02%34.02%34.20%34.20%34.20%34.20%34.21%34.39%34.39%34.39%30.42%
FIIs13.34%48.15%48.79%48.65%48.76%48.58%48.52%48.37%47.29%47.16%47.21%44.47%
DIIs13.01%5.70%6.14%6.50%6.69%6.71%6.98%6.98%7.38%7.85%7.78%7.65%
Government0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public15.18%12.12%11.05%10.64%10.34%10.50%10.28%10.43%10.94%10.59%10.59%17.46%
No. of Shareholders1,30,1611,53,2191,36,5721,39,5121,38,6051,53,3522,03,6542,40,2583,31,1404,65,2828,68,96616,98,570

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund91,488,0743.22306.4912,000,0002024-12-02662.4%
Quant Active Fund49,485,4002.74165.7812,000,0002024-12-02312.38%
SBI Long Term Equity Fund27,305,6200.5891.4712,000,0002024-12-02127.55%
Quant Infrastructure Fund19,992,0006.7466.9712,000,0002024-12-0266.6%
Quant Tax Plan12,000,0000.8140.212,000,0002024-12-020%
Quant Value Fund11,619,8905.0838.9312,000,0002024-12-02-3.17%
HDFC Balanced Advantage Fund - Regular Plan11,358,8100.0638.0512,000,0002024-12-02-5.34%
Quant Flexi Cap Fund9,815,0001.5232.8812,000,0002024-12-02-18.21%
Nippon India Nifty Smallcap 250 Index Fund875,9970.412.9312,000,0002024-12-02-92.7%
Motilal Oswal Nifty Smallcap 250 Index Fund549,9910.411.8412,000,0002024-12-02-95.42%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.0010.0010.0010.00
Basic EPS (Rs.)1.001.198.693.3320.51
Diluted EPS (Rs.)1.001.198.693.3320.51
Cash EPS (Rs.)3.172.7521.0424.6034.29
Book Value[Excl.RevalReserv]/Share (Rs.)22.7622.15208.07196.35190.15
Book Value[Incl.RevalReserv]/Share (Rs.)22.7622.15208.07196.35190.15
Revenue From Operations / Share (Rs.)12.2710.6096.10150.76194.97
PBDIT / Share (Rs.)6.835.8555.4676.8790.09
PBIT / Share (Rs.)5.184.4744.1560.3276.77
PBT / Share (Rs.)2.101.9612.8512.1633.89
Net Profit / Share (Rs.)1.521.379.738.0520.96
NP After MI And SOA / Share (Rs.)1.001.195.983.3320.51
PBDIT Margin (%)55.6655.1557.7050.9846.20
PBIT Margin (%)42.2442.1545.9440.0039.37
PBT Margin (%)17.0918.4913.368.0617.38
Net Profit Margin (%)12.4212.9110.125.3310.75
NP After MI And SOA Margin (%)8.1711.246.222.2110.52
Return on Networth / Equity (%)4.405.382.871.6910.78
Return on Capital Employeed (%)7.637.016.715.899.96
Return On Assets (%)1.341.680.840.281.80
Long Term Debt / Equity (X)1.231.061.232.390.96
Total Debt / Equity (X)1.361.251.332.621.28
Asset Turnover Ratio (%)0.160.150.090.100.14
Current Ratio (X)1.241.621.781.050.35
Quick Ratio (X)1.161.551.670.980.32
Inventory Turnover Ratio (X)1.371.360.000.000.00
Dividend Payout Ratio (NP) (%)27.4110.480.000.000.00
Dividend Payout Ratio (CP) (%)10.374.860.000.000.00
Earning Retention Ratio (%)72.5989.520.000.000.00
Cash Earning Retention Ratio (%)89.6395.140.000.000.00
Interest Coverage Ratio (X)2.212.331.771.602.02
Interest Coverage Ratio (Post Tax) (X)1.491.551.311.171.43
Enterprise Value (Cr.)52220.5829492.5130132.5319564.618117.80
EV / Net Operating Revenue (X)7.054.615.193.691.18
EV / EBITDA (X)12.668.359.007.242.56
MarketCap / Net Operating Revenue (X)4.772.372.620.720.27
Retention Ratios (%)72.5889.510.000.000.00
Price / BV (X)2.571.131.210.550.27
Price / Net Operating Revenue (X)4.772.372.620.720.27
EarningsYield0.010.040.020.030.38

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of IRB Infrastructure Developers Ltd as of December 3, 2024 is: 54.94

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 3, 2024, IRB Infrastructure Developers Ltd is Overvalued by 0.11% compared to the current share price 55.00

Intrinsic Value of IRB Infrastructure Developers Ltd as of December 3, 2024 is: 45.85

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 3, 2024, IRB Infrastructure Developers Ltd is Overvalued by 16.64% compared to the current share price 55.00

Last 5 Year EPS CAGR: -16.54%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -93.17, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -95.25, which is a positive sign.
  3. The company has shown consistent growth in sales (4.69 cr) and profit (474.31 cr) over the years.
  1. The stock has a low average ROCE of 10.67%, which may not be favorable.
  2. The company has higher borrowings (14,755.08) compared to reserves (7,304.62), which may suggest financial risk.

Stock Analysis

  • 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 IRB Infrastructure Developers Ltd:
    1. Net Profit Margin: 12.42%
      • 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: 7.63% (Industry Average ROCE: 22.92%)
      • 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%: 4.4% (Industry Average ROE: 14.6%)
      • 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): 1.49
      • 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: 1.16
      • 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: 54 (Industry average Stock P/E: 34.02)
      • 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: 1.36
      • 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

IRB Infrastructure Developers Ltd. is a Public Limited Listed company incorporated on 27/07/1998 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65910MH1998PLC115967 and registration number is 115967. Currently Company is involved in the business activities of Construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subways. Company’s Total Operating Revenue is Rs. 2599.68 Cr. and Equity Capital is Rs. 603.90 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringOffice No. 1101, 11th Floor, Mumbai Maharashtra 400076info@irb.co.in
http://www.irb.co.in
Management
NamePosition Held
Mr. Virendra D MhaiskarChairman & Managing Director
Mrs. Deepali V MhaiskarWhole Time Director
Mr. Ravindra DhariwalNon Executive Director
Mr. Jose Tamariz Martel GoncerNon Executive Director
Ms. Priti SavlaIndependent Director
Mr. Sandeep J ShahIndependent Director
Mr. Vijay N BhattIndependent Director
Mr. Bajarang Lal GuptaIndependent Director

FAQ

What is the latest intrinsic value of IRB Infrastructure Developers Ltd?

The latest intrinsic value of IRB Infrastructure Developers Ltd as on 03 December 2024 is ₹54.94, which is 0.11% lower than the current market price of ₹55.00. The stock has a market capitalization of 33,251 Cr. and recorded a high/low of ₹78.2/36.8 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹13,332 Cr and total liabilities of ₹44,822 Cr.

What is the Market Cap of IRB Infrastructure Developers Ltd?

The Market Cap of IRB Infrastructure Developers Ltd is 33,251 Cr..

What is the current Stock Price of IRB Infrastructure Developers Ltd as on 03 December 2024?

The current stock price of IRB Infrastructure Developers Ltd as on 03 December 2024 is 55.0.

What is the High / Low of IRB Infrastructure Developers Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of IRB Infrastructure Developers Ltd stocks is 78.2/36.8.

What is the Stock P/E of IRB Infrastructure Developers Ltd?

The Stock P/E of IRB Infrastructure Developers Ltd is 54.0.

What is the Book Value of IRB Infrastructure Developers Ltd?

The Book Value of IRB Infrastructure Developers Ltd is 23.1.

What is the Dividend Yield of IRB Infrastructure Developers Ltd?

The Dividend Yield of IRB Infrastructure Developers Ltd is 0.55 %.

What is the ROCE of IRB Infrastructure Developers Ltd?

The ROCE of IRB Infrastructure Developers Ltd is 8.96 %.

What is the ROE of IRB Infrastructure Developers Ltd?

The ROE of IRB Infrastructure Developers Ltd is 4.38 %.

What is the Face Value of IRB Infrastructure Developers Ltd?

The Face Value of IRB Infrastructure Developers Ltd is 1.00.

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 IRB Infrastructure Developers 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