Nucleus Software Exports Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:05 am

Market Cap	2,790 Cr.
Current Price	1,042
High / Low	1,830/1,037
Stock P/E	17.8
Book Value	268
Dividend Yield	1.20 %
ROCE	32.0 %
ROE	24.0 %
Face Value	10.0
PEG Ratio	2.35

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
I Power Solutions India Ltd	6.41 Cr.	14.4	14.4/9.79		8.99	0.00 %	3.67 %	3.83 %	10.0
Hypersoft Technologies Ltd	7.47 Cr.	17.6	17.6/7.00		5.13	0.00 %	8.57 %	10.7 %	10.0
Nucleus Software Exports Ltd	2,790 Cr.	1,042	1,830/1,037	17.8	268	1.20 %	32.0 %	24.0 %	10.0
Newgen Software Technologies Ltd	22,083 Cr.	1,574	1,629/626	80.4	86.2	0.25 %	26.6 %	22.7 %	10.0
Mphasis Ltd	55,960 Cr.	2,951	3,240/2,180	35.1	458	1.86 %	24.0 %	18.4 %	10.0
Industry Average	110,804.13 Cr	845.54		28.42	141.39	0.68%	20.17%	16.60%	6.90

All Competitor Stocks of

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	114	122	153	129	130	169	206	207	205	204	210	195	202
Expenses	109	116	128	114	119	121	123	144	153	156	152	166	170
Operating Profit	5	6	25	15	11	48	83	63	52	48	58	29	32
OPM %	4%	5%	16%	11%	9%	28%	40%	30%	25%	23%	28%	15%	16%
Other Income	10	8	6	6	9	9	10	13	12	12	14	15	19
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	3	4	5	5	5	5	4	4	4	4	4	4	4
Profit before tax	11	9	26	16	15	52	89	72	60	56	68	40	47
Tax %	22%	15%	30%	31%	26%	26%	24%	25%	26%	26%	24%	24%	29%
Net Profit	9	8	18	11	11	38	68	54	45	41	52	30	33
EPS in Rs	2.95	2.77	6.83	4.02	4.12	14.32	25.27	20.01	16.65	15.43	19.47	11.28	12.35

Last Updated: November 25, 2024, 3:59 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: November 25, 2024, 3:59 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	294	346	353	349	372	412	484	521	514	497	634	826	812
Expenses	247	278	287	318	319	353	405	427	384	460	478	606	645
Operating Profit	46	68	66	31	54	59	79	94	129	37	157	220	167
OPM %	16%	20%	19%	9%	14%	14%	16%	18%	25%	7%	25%	27%	21%
Other Income	20	24	33	26	32	29	27	37	39	35	34	51	60
Interest	0	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	6	8	12	12	11	7	10	14	14	15	19	15	15
Profit before tax	60	83	87	44	74	80	96	117	154	56	171	256	211
Tax %	25%	23%	25%	26%	11%	22%	23%	24%	23%	26%	25%	25%
Net Profit	45	64	65	32	66	63	75	89	118	41	128	192	157
EPS in Rs	13.95	19.87	19.98	10.03	20.43	21.54	25.67	30.64	40.62	15.28	47.73	71.56	58.53
Dividend Payout %	22%	30%	25%	50%	24%	37%	35%	29%	22%	46%	21%	17%

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 (%)	42.22%	1.56%	-50.77%	106.25%	-4.55%	19.05%	18.67%	32.58%	-65.25%	212.20%	50.00%
Change in YoY Net Profit Growth (%)	0.00%	-40.66%	-52.33%	157.02%	-110.80%	23.59%	-0.38%	13.92%	-97.84%	277.45%	-162.20%

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:	9%
5 Years:	11%
3 Years:	17%
TTM:	3%

Compounded Profit Growth
10 Years:	11%
5 Years:	18%
3 Years:	18%
TTM:	-23%

Stock Price CAGR
10 Years:	19%
5 Years:	30%
3 Years:	28%
1 Year:	-29%

Return on Equity
10 Years:	15%
5 Years:	17%
3 Years:	17%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:57 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	32	32	32	32	32	29	29	29	29	27	27	27	26
Reserves	318	365	406	425	503	432	480	532	643	467	584	751	690
Borrowings	0	0	0	1	0	0	0	6	6	2	6	5	3
Other Liabilities	109	116	118	123	131	184	177	196	206	241	257	332	428
Total Liabilities	459	513	556	581	665	645	685	763	885	737	874	1,114	1,147
Fixed Assets	51	61	58	54	48	48	47	57	50	59	50	59	57
CWIP	0	1	1	1	0	0	0	0	1	0	1	1	6
Investments	155	224	170	245	441	387	424	475	635	480	525	649	656
Other Assets	253	228	328	281	176	210	214	231	200	198	298	406	428
Total Assets	459	513	556	581	665	645	685	763	885	737	874	1,114	1,147

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 +	74	66	37	33	95	77	56	75	115	58	50	222
Cash from Investing Activity +	-66	-56	-15	7	-78	61	-28	-28	-126	159	-12	-197
Cash from Financing Activity +	-9	-10	-23	-36	-1	-135	-26	-34	-13	-213	-23	-30
Net Cash Flow	-1	0	-1	4	16	3	2	12	-24	3	15	-5

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	46.00	68.00	66.00	30.00	54.00	59.00	79.00	88.00	123.00	35.00	151.00	215.00

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	87	44	87	90	60	70	54	63	63	61	100	73
Inventory Days
Days Payable
Cash Conversion Cycle	87	44	87	90	60	70	54	63	63	61	100	73
Working Capital Days	19	-5	14	9	-43	-66	-51	-51	-58	-75	-14	-36
ROCE %	18%	21%	19%	10%	15%	16%	19%	21%	22%	6%	27%	32%

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	67.59%	73.28%	73.28%	73.27%	73.27%	73.27%	73.26%	73.27%	73.26%	73.26%	73.26%	73.59%
FIIs	3.74%	2.85%	2.87%	2.61%	2.63%	4.20%	3.99%	3.69%	5.02%	5.65%	5.35%	5.62%
DIIs	0.00%	0.00%	0.00%	0.16%	0.00%	0.33%	0.34%	0.59%	1.65%	1.90%	2.10%	1.75%
Public	28.67%	23.88%	23.85%	23.96%	24.10%	22.20%	22.40%	22.45%	20.05%	19.18%	19.28%	19.02%
No. of Shareholders	47,223	38,713	38,394	38,175	37,852	31,606	31,742	33,318	30,418	29,900	36,281	45,592

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
WhiteOak Capital Flexi Cap Fund	113,333	0.63	16.66	38,000	2024-12-20	198.24%
ICICI Prudential Innovation Fund	65,999	0.3	9.7	38,000	2024-12-20	73.68%
WhiteOak Capital Mid Cap Fund	45,586	0.51	6.7	38,000	2024-12-20	19.96%
Quant Teck Fund	38,000	2.75	5.58	38,000	2024-12-20	0%
WhiteOak Capital Multi Cap Fund	25,166	0.71	3.7	38,000	2024-12-20	-33.77%
WhiteOak Capital Large Cap Fund	11,472	0.46	1.69	38,000	2024-12-20	-69.81%
WhiteOak Capital Balanced Advantage Fund	8,909	0.18	1.31	38,000	2024-12-20	-76.56%
ICICI Prudential Technology Fund	6,651	0.01	0.98	38,000	2024-12-20	-82.5%
WhiteOak Capital ELSS Tax Saver Fund	4,324	0.58	0.64	38,000	2024-12-20	-88.62%
WhiteOak Capital Multi Asset Allocation Fund	1,716	0.1	0.25	38,000	2024-12-20	-95.48%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	71.56	47.73	14.28	40.62	30.64
Diluted EPS (Rs.)	71.56	47.73	14.28	40.62	30.64
Cash EPS (Rs.)	77.01	54.73	21.03	45.39	35.31
Book Value[Excl.RevalReserv]/Share (Rs.)	290.41	228.11	184.38	231.41	193.14
Book Value[Incl.RevalReserv]/Share (Rs.)	290.41	228.11	184.38	231.41	193.14
Revenue From Operations / Share (Rs.)	308.72	237.00	185.73	176.84	179.35
PBDIT / Share (Rs.)	101.34	71.28	26.78	58.16	45.27
PBIT / Share (Rs.)	95.91	64.29	21.03	53.38	40.60
PBT / Share (Rs.)	95.55	63.91	20.73	52.96	40.21
Net Profit / Share (Rs.)	71.57	47.74	15.28	40.62	30.64
NP After MI And SOA / Share (Rs.)	71.57	47.74	15.28	40.62	30.64
PBDIT Margin (%)	32.82	30.07	14.41	32.88	25.23
PBIT Margin (%)	31.06	27.12	11.32	30.18	22.63
PBT Margin (%)	30.95	26.96	11.16	29.95	22.42
Net Profit Margin (%)	23.18	20.14	8.22	22.96	17.08
NP After MI And SOA Margin (%)	23.18	20.14	8.22	22.96	17.08
Return on Networth / Equity (%)	24.64	20.92	8.28	17.55	15.86
Return on Capital Employeed (%)	31.36	26.84	10.84	22.57	20.53
Return On Assets (%)	17.19	14.61	5.55	13.33	11.66
Asset Turnover Ratio (%)	0.83	0.74	0.56	0.56	0.62
Current Ratio (X)	2.07	2.07	2.09	3.11	2.36
Quick Ratio (X)	2.07	2.07	2.09	3.11	2.36
Dividend Payout Ratio (NP) (%)	13.97	14.66	42.58	7.38	29.37
Dividend Payout Ratio (CP) (%)	12.98	12.79	30.94	6.60	25.49
Earning Retention Ratio (%)	86.03	85.34	57.42	92.62	70.63
Cash Earning Retention Ratio (%)	87.02	87.21	69.06	93.40	74.51
Interest Coverage Ratio (X)	285.58	187.09	88.51	138.44	117.37
Interest Coverage Ratio (Post Tax) (X)	202.68	126.28	51.51	97.68	80.46
Enterprise Value (Cr.)	3091.48	1658.15	1054.42	1353.67	425.81
EV / Net Operating Revenue (X)	3.74	2.61	2.12	2.64	0.81
EV / EBITDA (X)	11.40	8.69	14.71	8.01	3.24
MarketCap / Net Operating Revenue (X)	3.83	2.69	2.23	2.72	0.98
Retention Ratios (%)	86.02	85.33	57.41	92.61	70.62
Price / BV (X)	4.07	2.80	2.25	2.08	0.91
Price / Net Operating Revenue (X)	3.83	2.69	2.23	2.72	0.98
EarningsYield	0.06	0.07	0.03	0.08	0.17

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 1,158.63

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 21, 2024, is Undervalued by 11.19% compared to the current share price 1,042.00

Intrinsic Value of as of December 21, 2024 is: 1,246.44

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 21, 2024, is Undervalued by 19.62% compared to the current share price 1,042.00

Last 5 Year EPS CAGR: 7.58%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 18.83%, which is a positive sign. The stock has a low average Working Capital Days of -29.75, which is a positive sign. The company has higher reserves (507.38 cr) compared to borrowings (2.23 cr), indicating strong financial stability. The company has shown consistent growth in sales (493.38 cr) and profit (114.54 cr) over the years.	The stock has a high average Cash Conversion Cycle of 71.00, 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: 23.18%
  - 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: 31.36% (Industry Average ROCE: 20.17%)
  - 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%: 24.64% (Industry Average ROE: 16.6%)
  - 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): 202.68
  - 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: 2.07
  - 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: 17.8 (Industry average Stock P/E: 22.74)
  - 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
  - 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

Nucleus Software Exports Ltd. is a Public Limited Listed company incorporated on 09/01/1989 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1989PLC034594 and registration number is 034594. Currently Company is involved in the business activities of Computer programming, consultancy and related activities. Company’s Total Operating Revenue is Rs. 448.06 Cr. and Equity Capital is Rs. 26.77 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
IT Consulting & Software	33-35, Thyagraj Nagar Market, New Delhi Delhi 110003	investorrelations@nucleussoftware.com http://www.nucleussoftware.com

Management
Name	Position Held
Mr. S M Acharya	Chairman(NonExe.&Ind.Director)
Mr. Vishnu R Dusad	Managing Director
Mr. Anurag Mantri	Executive Director & CFO
Mr. Parag Bhise	Executive Director & CEO
Mr. Ravi Pratap Singh	Executive Director
Dr. Ritika Dusad	Executive Director
Mr. Prithvi Haldea	Ind. Non-Executive Director
Mrs. Elaine Mathias	Ind. Non-Executive Director
Prof. Trilochan Sastry	Ind. Non-Executive Director
Ms. Yasmin Javeri Krishan	Ind. Non-Executive Director
Mr. P C Kandpal	Ind. Non-Executive Director
Mr. Shekar Viswanathan	Ind. Non-Executive Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹1158.63, which is 11.19% higher than the current market price of ₹1,042.00. The stock has a market capitalization of 2,790 Cr. and recorded a high/low of 1,830/1,037 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹690 Cr and total liabilities of ₹1,147 Cr.

What is the Market Cap of ?

The Market Cap of is 2,790 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 1,042.

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

In FY 2024-2025, the High / Low of stocks is 1,830/1,037.

What is the Stock P/E of ?

The Stock P/E of is 17.8.

What is the Book Value of ?

The Book Value of is 268.

What is the Dividend Yield of ?

The Dividend Yield of is 1.20 %.

What is the ROCE of ?

The ROCE of is 32.0 %.

What is the ROE of ?

The ROE of is 24.0 %.

What is the Face Value of ?

The Face Value of is 10.0.