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Last Updated on: 25 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PTC India Ltd

Basic Stock Data

Last Updated: June 22, 2024, 10:28 pm

Market Cap 6,080 Cr.
Current Price 205
High / Low255/109
Stock P/E13.8
Book Value 174
Dividend Yield3.80 %
ROCE9.64 %
ROE8.67 %
Face Value 10.0
PEG Ratio2.07

Competitors of PTC India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Orient Green Power Company Ltd 2,077 Cr. 21.234.6/9.0771.4 8.040.00 %6.97 %4.44 % 10.0
Gujarat Industries Power Co Ltd 3,796 Cr. 251270/98.019.1 2191.50 %7.66 %6.15 % 10.0
JSW Energy Ltd 1,19,477 Cr. 684687/25272.1 1270.29 %8.59 %8.40 % 10.0
KKV Agro Powers Ltd 63.4 Cr. 1,1191,365/543235 3750.45 %4.52 %1.31 % 10.0
India Power Corporation Ltd 1,782 Cr. 18.328.0/11.0118 10.50.27 %4.16 %1.48 % 1.00
Industry Average76,384.51 Cr338.0885.2292.680.66%9.08%10.81%8.11

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales3,9174,9585,4733,3243,1014,3084,8993,1393,5734,8485,2033,4283,507
Expenses3,5524,5495,0013,0482,6843,9424,5412,8293,2954,5064,7893,1783,256
Operating Profit364409472275418366358310278342414250251
OPM %9%8%9%8%13%8%7%10%8%7%8%7%7%
Other Income-11221563381616238-17
Interest215203186180182161150150106142140104100
Depreciation25252525262525263252533
Profit before tax11318326284216182186142185191272151132
Tax %56%26%25%25%27%26%26%26%25%25%26%26%27%
Net Profit501361956315713513810414014320211296
EPS in Rs2.324.065.982.045.013.974.053.104.294.396.133.173.09

Last Updated: June 9, 2024, 7:07 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 5:59 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales8,0219,12012,00313,83813,44715,31112,76615,15518,10118,34616,85615,97117,148
Expenses7,6418,67111,17112,83612,33313,91811,61213,20116,27516,64915,27614,61615,796
Operating Profit3804498311,0021,1141,3931,1541,9541,8261,6971,5801,3551,351
OPM %5%5%7%7%8%9%9%13%10%9%9%8%8%
Other Income7815486154203147130238233270
Interest951082284226338029461,2431,159926757605555
Depreciation989810219797100100101102101
Profit before tax354348642577624772258744589679745680765
Tax %27%30%30%32%35%34%36%34%31%33%26%25%
Net Profit259238442326406506165490406458552507571
EPS in Rs6.926.7012.198.6610.9014.016.7514.3712.4215.1617.1015.0517.14
Dividend Payout %22%24%16%25%23%21%59%28%44%49%46%52%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-8.11%85.71%-26.24%24.54%24.63%-67.39%196.97%-17.14%12.81%20.52%-8.15%
Change in YoY Net Profit Growth (%)0.00%93.82%-111.96%50.78%0.09%-92.02%264.36%-214.11%29.95%7.72%-28.68%

Growth

Compounded Sales Growth
10 Years:3%
5 Years:2%
3 Years:-3%
TTM:5%
Compounded Profit Growth
10 Years:2%
5 Years:1%
3 Years:-2%
TTM:0%
Stock Price CAGR
10 Years:8%
5 Years:25%
3 Years:26%
1 Year:77%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:10%
Last Year:9%

Last Updated: June 22, 2024, 4:58 pm

PTC India Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital295296296296296296296296296296296296296
Reserves2,2062,3382,6132,7863,2553,5593,4233,6663,8914,1244,4274,7234,802
Borrowings7601,5873,8955,1107,7249,99912,35313,32011,40811,4799,7716,5466,279
Other Liabilities1,8521,7501,8712,4773,5074,2453,1813,9965,5144,7695,3875,0655,789
Total Liabilities5,1125,9718,67510,67014,78218,09819,25321,27821,10920,66819,88216,63017,166
Fixed Assets605554493872,1552,0611,9671,8841,7871,6931,6171,569
CWIP0110000000000
Investments7629828661,2931,102974400291564972768326525
Other Assets4,2904,9347,7549,32813,29314,97016,79219,02018,66217,90917,42114,68615,072
Total Assets5,1125,9718,67510,67014,78218,09819,25321,27821,10920,66819,88216,63017,166

Reserves and Borrowings Chart

PTC India Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -1,152-370-1,849-497-1,281111-1,438-1083,2942,1083,0493,575
Cash from Investing Activity 599-94-396-16087-1,374249244-414-50546168
Cash from Financing Activity -676522,0127091,1241,3531,278-408-2,570-1,085-2,788-4,019
Net Cash Flow-620188-23352-709189-272309518308-276

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow380.00448.00828.00-4.00-6.00-8.00-11.00-12.00-10.00-10.00-8.00-5.00

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 Days8664671017895118141123156130125
Inventory Days10000000000
Days Payable48
Cash Conversion Cycle3964671017895118141123156130125
Working Capital Days433538346262541961056386
ROCE %11%14%13%12%12%8%11%10%10%9%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%
FIIs34.29%34.68%34.13%33.18%32.33%31.67%29.84%28.87%28.28%27.47%28.78%29.41%
DIIs10.06%9.59%12.46%9.82%9.47%9.04%8.29%8.35%8.31%7.82%6.32%5.91%
Government0.03%0.03%0.00%0.00%0.00%0.00%0.00%0.00%3.38%3.38%3.38%3.38%
Public39.40%39.48%37.19%40.79%41.99%43.07%45.65%46.55%43.81%45.10%45.30%45.09%
No. of Shareholders1,80,8551,81,8561,82,4472,02,6082,11,0532,15,2372,14,7692,04,9171,97,0152,05,9052,15,6112,49,937

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund262,1110.754.3262,1112024-06-230%
Groww Nifty Total Market Index Fund6560.030.01262,1112024-06-23-99.75%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)15.0517.1015.1612.4214.37
Diluted EPS (Rs.)15.0517.1015.1612.4214.37
Cash EPS (Rs.)20.6422.0818.8417.1119.82
Book Value[Excl.RevalReserv]/Share (Rs.)198.42186.33174.37166.46158.27
Book Value[Incl.RevalReserv]/Share (Rs.)198.42186.33174.37166.46158.27
Revenue From Operations / Share (Rs.)539.53569.45619.76611.49511.62
PBDIT / Share (Rs.)46.7553.9958.1362.3770.31
PBIT / Share (Rs.)43.3250.5754.7558.9867.03
PBT / Share (Rs.)23.0625.1822.9319.9125.14
Net Profit / Share (Rs.)17.2118.6615.4613.7216.55
NP After MI And SOA / Share (Rs.)15.0517.1015.1612.4214.37
PBDIT Margin (%)8.669.489.3710.1913.74
PBIT Margin (%)8.028.888.839.6413.10
PBT Margin (%)4.274.423.693.254.91
Net Profit Margin (%)3.183.272.492.243.23
NP After MI And SOA Margin (%)2.793.002.442.032.80
Return on Networth / Equity (%)8.8710.7110.158.7710.73
Return on Capital Employeed (%)11.9112.8812.5512.9114.16
Return On Assets (%)2.672.542.171.741.99
Long Term Debt / Equity (X)0.961.281.742.032.33
Total Debt / Equity (X)1.302.072.212.412.83
Asset Turnover Ratio (%)0.871.031.151.090.99
Current Ratio (X)1.511.401.361.150.89
Quick Ratio (X)1.511.401.361.150.89
Dividend Payout Ratio (NP) (%)38.5243.8649.4832.2127.84
Dividend Payout Ratio (CP) (%)31.3736.5440.4625.2922.66
Earning Retention Ratio (%)61.4856.1450.5267.7972.16
Cash Earning Retention Ratio (%)68.6363.4659.5474.7177.34
Interest Coverage Ratio (X)2.312.131.871.601.68
Interest Coverage Ratio (Post Tax) (X)1.851.741.521.351.39
Enterprise Value (Cr.)7952.3511034.9811457.3811228.7713896.09
EV / Net Operating Revenue (X)0.490.650.620.620.91
EV / EBITDA (X)5.756.906.666.086.68
MarketCap / Net Operating Revenue (X)0.150.140.120.060.14
Retention Ratios (%)61.4756.1350.5167.7872.15
Price / BV (X)0.500.510.520.270.54
Price / Net Operating Revenue (X)0.150.140.120.060.14
EarningsYield0.170.200.190.320.19

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 216.10

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.

Undervalued: 5.41% compared to the current price 205

Intrinsic Value: 230.47

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 12.43% compared to the current price ₹205

Last 5 Year EPS CAGR: 6.65%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (13.92 cr) and profit (598.23 cr) over the years.
  1. The stock has a low average ROCE of 9.92%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 49.83, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 103.08, which may not be favorable.
  4. The company has higher borrowings (8,126.58) compared to reserves (3,637.58), 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 PTC India Ltd:
    1. Net Profit Margin: 3.18%
      • 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: 11.91% (Industry Average ROCE: 8.48%)
      • 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%: 8.87% (Industry Average ROE: 6.37%)
      • 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): 1.85
      • 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: 1.51
      • 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: 13.8 (Industry average Stock P/E: 87.3)
      • 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: 1.30
      • 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

PTC India Ltd. is a Public Limited Listed company incorporated on 16/04/1999 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L40105DL1999PLC099328 and registration number is 099328. Currently company belongs to the Industry of Power - Generation/Distribution. Company’s Total Operating Revenue is Rs. 15631.39 Cr. and Equity Capital is Rs. 296.01 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Power - Generation/Distribution2nd Floor, New Delhi Delhi 110066info@ptcindia.com
http://www.ptcindia.com
Management
NamePosition Held
Dr. Rajib Kumar MishraChairman & Managing Director
Mr. Ramesh Narain MisraIndependent Director
Mr. Devendra Swaroop SaksenaIndependent Director
Mr. Prakash S MhaskeIndependent Director
Mrs. Rashmi VermaIndependent Director
Dr. Jayant DasguptaIndependent Director
Mr. Narendra KumarIndependent Director
Mr. Ravisankar GanesanNominee Director
Mr. Rajiv Ranjan JhaNominee Director
Mrs. Sangeeta KaushikNominee Director
Mr. Mohammad AfzalNominee Director
Mr. Mahendra Kumar GuptaNominee Director

FAQ

What is the latest fair value of PTC India Ltd?

The latest fair value of PTC India Ltd is ₹216.10.

What is the Market Cap of PTC India Ltd?

The Market Cap of PTC India Ltd is 6,080 Cr..

What is the current Stock Price of PTC India Ltd as on 25 June 2024?

The current stock price of PTC India Ltd as on 25 June 2024 is ₹205.

What is the High / Low of PTC India Ltd stocks in FY 2024?

In FY 2024, the High / Low of PTC India Ltd stocks is 255/109.

What is the Stock P/E of PTC India Ltd?

The Stock P/E of PTC India Ltd is 13.8.

What is the Book Value of PTC India Ltd?

The Book Value of PTC India Ltd is 174.

What is the Dividend Yield of PTC India Ltd?

The Dividend Yield of PTC India Ltd is 3.80 %.

What is the ROCE of PTC India Ltd?

The ROCE of PTC India Ltd is 9.64 %.

What is the ROE of PTC India Ltd?

The ROE of PTC India Ltd is 8.67 %.

What is the Face Value of PTC India Ltd?

The Face Value of PTC India Ltd is 10.0.

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 PTC India 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