Vikas Ecotech Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 24, 2024, 12:55 pm

Market Cap	570 Cr.
Current Price	3.22
High / Low	5.65/3.00
Stock P/E	36.1
Book Value	3.10
Dividend Yield	0.00 %
ROCE	4.53 %
ROE	2.07 %
Face Value	1.00
PEG Ratio	8.21

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Vikas Ecotech Ltd

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Indag Rubber Ltd	474 Cr.	180	308/130	44.8	87.6	1.66 %	%	%	2.00
Eastern Treads Ltd	19.4 Cr.	37.0	51.4/31.0		22.8	0.00 %	0.62 %	%	10.0
Dolfin Rubbers Ltd	217 Cr.	217	290/126	41.1	31.1	0.00 %	19.1 %	17.9 %	10.0
Vikas Ecotech Ltd	570 Cr.	3.22	5.65/3.00	36.1	3.10	0.00 %	4.53 %	2.07 %	1.00
Modi Rubber Ltd	314 Cr.	125	157/79.1	14.4	279	0.00 %	3.72 %	1.97 %	10.0
Industry Average	797.75 Cr	503.47		61.07	106.50	0.38%	8.52%	7.06%	6.22

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	18	74	75	83	89	134	111	68	58	61	68	60	80
Expenses	17	68	67	76	84	128	106	63	54	55	65	57	78
Operating Profit	1	6	9	7	5	7	6	5	4	5	4	3	2
OPM %	6%	8%	12%	9%	5%	5%	5%	7%	7%	9%	5%	5%	2%
Other Income	0	1	0	-0	0	1	1	1	1	-0	0	2	14
Interest	4	5	4	5	3	3	3	3	2	2	1	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	-4	1	4	1	2	4	3	2	2	2	2	3	14
Tax %	0%	25%	10%	8%	8%	4%	4%	24%	25%	25%	25%	32%	26%
Net Profit	-4	1	3	1	1	4	3	2	2	2	1	2	10
EPS in Rs	-0.04	0.01	0.04	0.01	0.02	0.04	0.03	0.02	0.01	0.01	0.01	0.01	0.06

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 3:16 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	157	170	211	307	371	233	245	192	116	250	397	247	269
Expenses	149	159	194	258	303	181	216	180	112	227	375	230	255
Operating Profit	8	10	17	49	68	52	30	12	4	23	22	17	14
OPM %	5%	6%	8%	16%	18%	22%	12%	6%	4%	9%	6%	7%	5%
Other Income	2	2	3	5	-14	4	14	15	5	2	3	3	16
Interest	5	6	11	11	13	11	14	19	18	19	11	7	5
Depreciation	2	2	3	3	4	4	5	5	4	4	4	4	4
Profit before tax	4	4	6	39	37	41	25	3	-13	2	10	9	21
Tax %	3%	18%	39%	35%	34%	35%	40%	65%	10%	34%	9%	27%
Net Profit	3	3	4	26	24	27	15	1	-14	1	10	7	15
EPS in Rs	0.04	0.04	0.04	0.29	0.25	0.28	0.16	0.01	-0.15	0.01	0.10	0.05	0.09
Dividend Payout %	15%	15%	34%	5%	6%	5%	9%	0%	0%	0%	0%	0%

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 (%)	0.00%	33.33%	550.00%	-7.69%	12.50%	-44.44%	-93.33%	-1500.00%	107.14%	900.00%	-30.00%
Change in YoY Net Profit Growth (%)	0.00%	33.33%	516.67%	-557.69%	20.19%	-56.94%	-48.89%	-1406.67%	1607.14%	792.86%	-930.00%

Vikas Ecotech Ltd 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:	4%
5 Years:	0%
3 Years:	29%
TTM:	-8%

Compounded Profit Growth
10 Years:	7%
5 Years:	-16%
3 Years:	35%
TTM:	101%

Stock Price CAGR
10 Years:	-3%
5 Years:	13%
3 Years:	11%
1 Year:	-15%

Return on Equity
10 Years:	7%
5 Years:	0%
3 Years:	2%
Last Year:	2%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:29 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	10	10	25	25	28	28	28	28	28	94	95	139	177
Reserves	27	31	18	41	105	100	114	115	101	134	143	237	372
Borrowings	37	43	68	94	118	141	158	145	151	91	62	19	21
Other Liabilities	28	39	36	68	59	48	92	57	46	26	43	35	65
Total Liabilities	102	123	147	228	310	318	391	346	326	344	343	430	635
Fixed Assets	18	21	21	28	27	27	40	31	30	28	29	29	29
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	8	5	0	0	0	5	0	0	0	0	55	258	408
Other Assets	77	96	126	200	283	286	352	314	295	316	259	143	197
Total Assets	102	123	147	228	310	318	391	346	326	344	343	430	635

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 +	-5	3	-12	-4	-23	-7	9	26	12	-18	92	119
Cash from Investing Activity +	-1	-2	4	-10	-9	-22	-12	6	-0	0	-58	-203
Cash from Financing Activity +	6	-1	13	12	53	11	1	-32	-12	20	-41	82
Net Cash Flow	0	0	6	-2	21	-18	-3	-0	0	2	-7	-1

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	-29.00	-33.00	-51.00	-45.00	-50.00	-89.00	-128.00	-133.00	-147.00	-68.00	-40.00	-2.00

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	85	116	129	167	149	218	245	205	255	190	130	102
Inventory Days	73	60	58	58	72	173	195	246	353	138	35	62
Days Payable	60	60	65	69	54	65	110	57	128	26	27	45
Cash Conversion Cycle	97	116	122	156	167	327	330	394	480	302	138	119
Working Capital Days	108	119	141	148	186	331	334	432	627	350	168	117
ROCE %	11%	13%	16%	37%	32%	20%	14%	5%	2%	7%	7%	5%

Financial Efficiency Indicators Chart

Share Holding Pattern

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
Promoters	15.60%	15.60%	9.47%	9.29%	9.29%	9.29%	9.32%	7.85%	6.87%	6.87%	13.57%	10.66%
FIIs	3.32%	0.08%	1.11%	1.08%	1.08%	1.08%	0.03%	15.18%	9.42%	0.01%	0.01%	0.00%
Public	81.09%	84.33%	89.42%	89.63%	89.64%	89.63%	90.64%	76.98%	83.70%	93.12%	86.42%	89.34%
No. of Shareholders	85,561	1,31,396	2,44,876	2,68,399	2,57,576	2,66,538	2,65,412	2,75,769	3,44,479	3,83,102	5,01,025	5,35,602

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 15	Mar 14	Mar 13	Mar 12
FaceValue	1.00	1.00	1.00	10.00	10.00
Basic EPS (Rs.)	0.06	0.15	0.36	3.63	8.90
Diluted EPS (Rs.)	0.06	0.15	0.36	3.63	8.90
Cash EPS (Rs.)	0.07	0.00	0.57	5.77	12.04
Book Value[Excl.RevalReserv]/Share (Rs.)	2.71	0.00	4.15	37.27	34.22
Book Value[Incl.RevalReserv]/Share (Rs.)	2.71	0.00	4.15	37.27	34.22
Revenue From Operations / Share (Rs.)	1.86	0.00	24.58	249.55	163.05
PBDIT / Share (Rs.)	0.14	0.00	1.59	12.40	17.62
PBIT / Share (Rs.)	0.11	0.00	1.37	10.46	15.69
PBT / Share (Rs.)	0.06	0.00	0.47	4.09	10.31
Net Profit / Share (Rs.)	0.04	0.00	0.36	3.82	10.11
NP After MI And SOA / Share (Rs.)	0.04	0.00	0.35	3.63	8.90
PBDIT Margin (%)	7.64	8.86	6.44	4.97	10.80
PBIT Margin (%)	6.18	7.32	5.58	4.19	9.62
PBT Margin (%)	3.64	2.40	1.91	1.63	6.32
Net Profit Margin (%)	2.64	1.68	1.48	1.53	6.19
NP After MI And SOA Margin (%)	2.64	1.68	1.44	1.45	5.45
Return on Networth / Equity (%)	1.81	0.00	8.60	9.74	26.00
Return on Capital Employeed (%)	4.22	0.00	27.55	24.14	39.10
Return On Assets (%)	1.54	0.00	2.34	2.71	9.17
Long Term Debt / Equity (X)	0.00	0.00	0.19	0.15	0.16
Total Debt / Equity (X)	0.05	0.00	1.59	1.43	1.09
Asset Turnover Ratio (%)	0.00	0.00	1.32	1.57	1.33
Current Ratio (X)	2.09	0.00	1.26	1.25	1.33
Quick Ratio (X)	1.40	0.00	1.00	0.92	0.95
Inventory Turnover Ratio (X)	0.00	0.00	3.17	3.06	1.83
Dividend Payout Ratio (NP) (%)	0.00	0.00	14.06	0.00	5.61
Dividend Payout Ratio (CP) (%)	0.00	0.00	8.79	0.00	4.61
Earning Retention Ratio (%)	0.00	0.00	85.94	0.00	94.39
Cash Earning Retention Ratio (%)	0.00	0.00	91.21	0.00	95.39
Interest Coverage Ratio (X)	3.00	1.49	1.76	1.95	3.29
Interest Coverage Ratio (Post Tax) (X)	2.04	1.34	1.41	1.60	2.90
Enterprise Value (Cr.)	524.81	0.00	339.12	147.56	63.50
EV / Net Operating Revenue (X)	2.03	0.00	1.36	0.58	0.38
EV / EBITDA (X)	26.53	0.00	21.04	11.77	3.57
MarketCap / Net Operating Revenue (X)	1.97	0.00	1.09	0.37	0.39
Retention Ratios (%)	0.00	0.00	85.93	0.00	94.38
Price / BV (X)	1.35	0.00	6.49	2.50	1.90
Price / Net Operating Revenue (X)	1.97	0.00	1.09	0.37	0.39
EarningsYield	0.01	0.00	0.01	0.03	0.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Vikas Ecotech Ltd as of December 25, 2024 is: 2.36

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 25, 2024, Vikas Ecotech Ltd is Overvalued by 26.71% compared to the current share price 3.22

Intrinsic Value of Vikas Ecotech Ltd as of December 25, 2024 is: 2.46

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 25, 2024, Vikas Ecotech Ltd is Overvalued by 23.60% compared to the current share price 3.22

Last 5 Year EPS CAGR: 4.40%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (118.31 cr) compared to borrowings (88.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (243.46 cr) and profit (14.46 cr) over the years.	The stock has a low average ROCE of 14.08%, which may not be favorable. The stock has a high average Working Capital Days of 255.08, which may not be favorable. The stock has a high average Cash Conversion Cycle of 229.00, which may not be favorable.

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 Vikas Ecotech Ltd:
1. Net Profit Margin: 2.64%
  - 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: 4.22% (Industry Average ROCE: 8.52%)
  - 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%: 1.81% (Industry Average ROE: 7.06%)
  - 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): 2.04
  - 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: 1.4
  - 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: 36.1 (Industry average Stock P/E: 61.07)
  - 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: 0.05
  - 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

Vikas Ecotech Ltd. is a Public Limited Listed company incorporated on 30/11/1984 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L65999DL1984PLC019465 and registration number is 019465. Currently company belongs to the Industry of Rubber Processing/Rubber Products. Company’s Total Operating Revenue is Rs. 250.42 Cr. and Equity Capital is Rs. 93.93 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Rubber Processing/Rubber Products	Vikas Apartment, 34/1, East Punjabi Bagh, New Delhi Delhi 110026	cs@vikasecotech.com http://www.vikasecotech.com

Management
Name	Position Held
Dr. Vikas Garg	Managing Director
Mr. Rajeev Kumar	Executive Director
Mr. Balwant Kumar Bhushan	Director & CEO
Ms. Kratika Godika	Independent Director
Dr. Ravi Kumar Gupta	Independent Director
Dr. Gyan Prakash Govil	Independent Director

FAQ

What is the latest intrinsic value of Vikas Ecotech Ltd?

The latest intrinsic value of Vikas Ecotech Ltd as on 24 December 2024 is ₹2.36, which is 26.71% lower than the current market price of ₹3.22. The stock has a market capitalization of 570 Cr. and recorded a high/low of 5.65/3.00 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹372 Cr and total liabilities of ₹635 Cr.

What is the Market Cap of Vikas Ecotech Ltd?

The Market Cap of Vikas Ecotech Ltd is 570 Cr..

What is the current Stock Price of Vikas Ecotech Ltd as on 24 December 2024?

The current stock price of Vikas Ecotech Ltd as on 24 December 2024 is 3.22.

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

In FY 2024-2025, the High / Low of Vikas Ecotech Ltd stocks is 5.65/3.00.

What is the Stock P/E of Vikas Ecotech Ltd?

The Stock P/E of Vikas Ecotech Ltd is 36.1.

What is the Book Value of Vikas Ecotech Ltd?

The Book Value of Vikas Ecotech Ltd is 3.10.

What is the Dividend Yield of Vikas Ecotech Ltd?

The Dividend Yield of Vikas Ecotech Ltd is 0.00 %.

What is the ROCE of Vikas Ecotech Ltd?

The ROCE of Vikas Ecotech Ltd is 4.53 %.

What is the ROE of Vikas Ecotech Ltd?

The ROE of Vikas Ecotech Ltd is 2.07 %.

What is the Face Value of Vikas Ecotech Ltd?

The Face Value of Vikas Ecotech Ltd is 1.00.