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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Pioneer Investcorp Ltd

About the Company - Pioneer Investcorp Ltd

Pioneer Investcorp Ltd. is a Public Limited Listed company incorporated on 23/01/1984 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65990MH1984PLC031909 and registration number is 031909. Currently company belongs to the Industry of Finance & Investments. Company’s Total Operating Revenue is Rs. 26.75 Cr. and Equity Capital is Rs. 12.89 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & Investments1218, Maker Chambers V, 12th Floor, Mumbai Maharashtra 400021investor.relations@pinc.co.in
http://www.pinc.co.in
Management
NamePosition Held
Mr. G M GandhiManaging Director
Mr. A T KrishnakumarInd. Non-Executive Director
Mr. A B DesaiInd. Non-Executive Director
Mrs. K C ManiarInd. Non-Executive Director
Mr. S P DalalInd. Non-Executive Director
Mr. T D JatiaNon Exe.Non Ind.Director

Pioneer Investcorp Ltd. Share Price Update

Share PriceValue
Today₹39.99
Previous Day₹39.00

Basic Stock Data of Pioneer Investcorp Ltd

Market Cap 52.1 Cr.
Current Price 42.4
High / Low50.6/27.9
Stock P/E52.1
Book Value 114
Dividend Yield0.00 %
ROCE4.93 %
ROE1.49 %
Face Value 10.0

Data Source: screener.in

Competitors of Pioneer Investcorp Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Abhishek Finlease Ltd 14.0 Cr. 32.843.7/20.493.1 10.10.00 %3.33 %2.17 % 10.0
PTL Enterprises Ltd 612 Cr. 46.254.1/29.529.9 55.63.73 %8.83 %3.63 % 1.00
360 ONE WAM Ltd 25,147 Cr. 701745/39535.2 91.12.45 %13.4 %21.4 % 1.00
The Investment Trust of India Ltd (THEINVEST) 747 Cr. 143172/63.426.4 1240.00 %4.54 %1.86 % 10.0
NBI Industrial Finance Company Ltd 455 Cr. 1,8532,030/1,40065.1 9,5070.02 %0.35 %0.23 % 5.00
Industry Average370.6 Cr184.849.9457.961.24%6.09%5.86%5.4

Pioneer Investcorp Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales6.017.7011.696.309.108.2111.966.579.226.449.668.357.34
Expenses4.404.266.523.934.655.126.585.094.995.605.595.265.07
Operating Profit1.613.445.172.374.453.095.381.484.230.844.073.092.27
OPM %26.79%44.68%44.23%37.62%48.90%37.64%44.98%22.53%45.88%13.04%42.13%37.01%30.93%
Other Income0.120.160.300.120.120.120.100.110.010.210.140.110.02
Interest0.723.093.362.212.972.731.771.271.181.722.392.321.82
Depreciation0.220.420.220.210.220.280.360.270.260.270.150.250.26
Profit before tax0.790.091.890.071.380.203.350.052.80-0.941.670.630.21
Tax %22.78%-88.89%85.71%42.86%31.16%60.00%20.30%-140.00%2.86%-11.70%84.43%49.21%47.62%
Net Profit0.610.170.270.040.950.082.660.122.72-1.050.270.320.11
EPS in Rs0.500.140.220.030.770.072.160.102.21-0.850.220.260.09

Pioneer Investcorp Ltd Quarterly Chart

Pioneer Investcorp Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales56.2058.3030.7934.4725.3563.0139.7037.6842.7631.0636.0132.3331.79
Expenses39.1328.0121.5117.1917.5123.8230.7627.6026.0418.6920.2621.2621.52
Operating Profit17.0730.299.2817.287.8439.198.9410.0816.7212.3715.7511.0710.27
OPM %30.37%51.96%30.14%50.13%30.93%62.20%22.52%26.75%39.10%39.83%43.74%34.24%32.31%
Other Income4.41-9.76-14.280.010.010.080.010.010.120.070.010.020.48
Interest8.4812.1812.949.058.4913.427.147.6410.618.479.696.558.25
Depreciation2.352.501.510.710.690.540.570.591.241.171.080.950.93
Profit before tax10.655.85-19.457.53-1.3325.311.241.864.992.804.993.591.57
Tax %43.38%27.35%-7.30%17.66%35.34%29.67%74.19%-3.76%37.68%68.21%25.25%42.90%
Net Profit6.034.24-20.866.20-0.8517.800.321.933.110.883.732.06-0.35
EPS in Rs4.903.45-16.965.04-0.6914.480.261.572.530.723.031.68-0.28
Dividend Payout %10.69%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Pioneer Investcorp Ltd Profit & Loss Yearly Chart

Pioneer Investcorp Ltd Growth

Compounded Sales Growth
10 Years:-6%
5 Years:-4%
3 Years:-9%
TTM:-12%
Compounded Profit Growth
10 Years:17%
5 Years:45%
3 Years:-13%
TTM:-106%
Stock Price CAGR
10 Years:18%
5 Years:17%
3 Years:13%
1 Year:8%
Return on Equity
10 Years:2%
5 Years:2%
3 Years:2%
Last Year:1%

SIL Investments Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital12.8912.8912.8912.8912.8912.8912.8912.8912.8912.8912.8912.8912.89
Reserves107.03111.2691.4096.3795.51113.32109.79111.73117.40118.93124.06126.37126.89
Borrowings94.94142.4663.6965.6434.3850.4545.8773.0942.42103.1351.2784.16224.59
Other Liabilities23.5834.3114.8318.047.9420.1710.019.349.438.2816.4824.3926.45
Total Liabilities238.44300.92182.81192.94150.72196.83178.56207.05182.14243.23204.70247.81390.82
Fixed Assets10.4469.814.842.982.382.754.464.576.274.694.853.943.84
CWIP75.100.000.000.000.000.000.000.000.000.000.000.000.00
Investments6.616.862.186.763.6915.0516.2616.7915.9416.1817.9218.1517.57
Other Assets146.29224.25175.79183.20144.65179.03157.84185.69159.93222.36181.93225.72369.41
Total Assets238.44300.92182.81192.94150.72196.83178.56207.05182.14243.23204.70247.81390.82

Pioneer Investcorp Ltd Reserves and Borrowings Chart

Pioneer Investcorp Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 8.90-43.6434.309.8829.0410.2216.88-11.6432.26-54.8468.09-30.13
Cash from Investing Activity -35.933.9855.190.834.80-11.47-1.06-0.676.030.65-1.590.32
Cash from Financing Activity 21.0535.33-90.60-7.10-39.762.64-11.7119.57-43.2852.23-61.5426.34
Net Cash Flow-5.98-4.33-1.113.61-5.921.384.117.26-4.99-1.964.96-3.47

Pioneer Investcorp Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days726.88771.321,315.381,130.901,350.28569.48924.641,027.001,130.251,396.541,043.611,660.28
Inventory Days
Days Payable
Cash Conversion Cycle726.88771.321,315.381,130.901,350.28569.48924.641,027.001,130.251,396.541,043.611,660.28
Working Capital Days635.57825.731,680.851,516.651,675.11846.321,198.711,480.921,142.372,347.121,488.182,113.00
ROCE %11.18%5.33%3.63%9.67%4.51%24.25%4.86%5.19%8.42%5.52%6.94%4.93%

Pioneer Investcorp Ltd Financial Efficiency Indicators Chart

Pioneer Investcorp Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters64.80%64.80%64.80%64.80%64.80%64.80%64.80%64.80%64.80%64.80%64.80%64.80%
FIIs3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%
DIIs0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%
Public31.18%31.18%31.18%31.18%31.18%31.18%31.18%31.18%31.18%31.19%31.19%31.18%
No. of Shareholders3,9403,9513,9973,9263,9843,9733,9714,0454,0784,0944,1164,086

Pioneer Investcorp Ltd Shareholding Pattern Chart

No. of Pioneer Investcorp Ltd Shareholders

This stock is not held by any mutual fund

Pioneer Investcorp Ltd ROCE Trend

Pioneer Investcorp Ltd EPS Trend

Pioneer Investcorp Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)1.672.980.722.530.18
Diluted EPS (Rs.)1.672.980.722.530.18
Cash EPS (Rs.)2.333.731.593.381.10
Book Value[Excl.RevalReserv]/Share (Rs.)108.00106.21102.23101.0598.54
Book Value[Incl.RevalReserv]/Share (Rs.)108.00106.21102.23101.0598.54
Revenue From Operations / Share (Rs.)24.7227.5923.5933.2628.18
PBDIT / Share (Rs.)8.6012.229.6513.067.02
PBIT / Share (Rs.)7.8711.398.7412.106.09
PBT / Share (Rs.)2.793.872.173.870.03
Net Profit / Share (Rs.)1.592.900.682.410.17
NP After MI And SOA / Share (Rs.)1.592.900.682.410.17
PBDIT Margin (%)34.7944.3040.8939.2624.91
PBIT Margin (%)31.8141.2737.0336.3721.60
PBT Margin (%)11.2614.049.1911.620.11
Net Profit Margin (%)6.4410.492.897.250.60
NP After MI And SOA Margin (%)6.4410.492.897.250.60
Return on Networth / Equity (%)1.472.720.662.380.17
Return on Capital Employeed (%)6.9910.458.3411.675.98
Return On Assets (%)0.821.820.361.700.10
Long Term Debt / Equity (X)0.010.000.000.000.00
Total Debt / Equity (X)0.600.350.760.310.57
Asset Turnover Ratio (%)0.140.120.120.180.16
Current Ratio (X)2.343.042.013.182.25
Quick Ratio (X)2.062.731.273.161.64
Interest Coverage Ratio (X)1.691.631.471.591.16
Interest Coverage Ratio (Post Tax) (X)1.311.391.101.291.03
Enterprise Value (Cr.)110.6176.43124.4764.7894.32
EV / Net Operating Revenue (X)3.472.154.091.512.60
EV / EBITDA (X)9.974.8510.003.8510.42
MarketCap / Net Operating Revenue (X)1.211.211.120.861.07
Price / BV (X)0.270.310.250.280.30
Price / Net Operating Revenue (X)1.211.211.120.861.07
EarningsYield0.050.080.020.080.01

Pioneer Investcorp Ltd Profitability Ratios (%)

Pioneer Investcorp Ltd Liquidity Ratios

Pioneer Investcorp Ltd Liquidity Ratios (%)

Pioneer Investcorp Ltd Interest Coverage Ratios (%)

Pioneer Investcorp Ltd Valuation Ratios

Fair Value / Intrinsic Value of Pioneer Investcorp Ltd

Fair Value: ₹90.27

The stock is undervalued by 112.89% compared to the current price ₹42.4

*Investments are subject to market risks

Strength and Weakness of Pioneer Investcorp Ltd

StrengthWeakness
  1. The company has higher reserves (111.54 cr) compared to borrowings (82.78 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (39.96 cr) and profit (3.82 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 9.24 and average Dividend Yield of 33.62%.
  2. The stock has a low average ROCE of 7.87%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 193.22, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 250.03, which may not be favorable.

Should I Buy Pioneer Investcorp Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Pioneer Investcorp Ltd:
    1. Net Profit Margin: 6.44%
      • 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: 6.99% (Industry Average ROCE: 5.06%)
      • 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. Interest Coverage Ratio (Post Tax): 1.31
      • 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.
    4. Quick Ratio: 2.06
      • 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.
    5. ✗ Stock P/E: 52.1 (Industry average Stock P/E: 25.59)
      • 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.
    6. ✓ Total Debt / Equity: 0.60
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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 Pioneer Investcorp 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