HB Estate Developers Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 8:04 pm

Market Cap	198 Cr.
Current Price	102
High / Low	125/45.0
Stock P/E	26.6
Book Value	80.1
Dividend Yield	0.00 %
ROCE	7.00 %
ROE	2.39 %
Face Value	10.0
PEG Ratio	0.33

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
IITL Projects Ltd	26.4 Cr.	52.9	78.1/16.0	8.18	70.7	0.00 %	%	%	10.0
HB Estate Developers Ltd	198 Cr.	102	125/45.0	26.6	80.1	0.00 %	7.00 %	2.39 %	10.0
Hazoor Multi Projects Ltd	994 Cr.	49.9	63.9/28.4	11.8	19.5	0.60 %	%	%	1.00
Gyan Developers & Builders Ltd	9.11 Cr.	30.4	33.8/7.07		12.7	0.00 %	4.02 %	3.75 %	10.0
GG Dandekar Properties Ltd	57.2 Cr.	120	163/87.4		96.9	0.00 %	1.27 %	9.45 %	1.00
Industry Average	16,164.50 Cr	306.21		47.59	133.45	0.14%	23.48%	27.83%	21.38

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	5.09	12.04	18.62	14.70	19.59	21.34	27.70	27.80	23.93	24.38	29.73	31.36	25.64
Expenses	7.51	11.38	12.64	11.08	13.99	15.05	17.13	18.60	16.75	17.21	18.06	18.53	17.02
Operating Profit	-2.42	0.66	5.98	3.62	5.60	6.29	10.57	9.20	7.18	7.17	11.67	12.83	8.62
OPM %	-47.54%	5.48%	32.12%	24.63%	28.59%	29.48%	38.16%	33.09%	30.00%	29.41%	39.25%	40.91%	33.62%
Other Income	0.50	0.08	0.60	0.38	0.15	0.41	0.21	1.87	0.22	0.73	0.38	0.70	0.71
Interest	5.78	5.94	6.42	5.89	5.72	6.12	6.38	6.30	6.22	6.29	7.11	6.49	5.73
Depreciation	1.87	1.87	1.84	1.77	1.78	1.80	1.79	1.86	1.83	1.86	1.88	1.87	1.89
Profit before tax	-9.57	-7.07	-1.68	-3.66	-1.75	-1.22	2.61	2.91	-0.65	-0.25	3.06	5.17	1.71
Tax %	-29.78%	-28.43%	-29.76%	-26.23%	-26.86%	-12.30%	18.77%	492.10%	84.62%	272.00%	50.98%	12.57%	46.78%
Net Profit	-6.73	-5.06	-1.18	-2.71	-1.28	-1.06	2.13	-11.42	-1.21	-0.93	1.51	4.52	0.91
EPS in Rs	-3.46	-2.60	-0.61	-1.39	-0.66	-0.54	1.09	-5.87	-0.62	-0.48	0.78	2.32	0.47

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 23, 2024, 2:21 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	7	43	64	67	73	84	89	82	24	50	95	108	111
Expenses	6	42	50	52	57	62	61	55	30	42	63	69	71
Operating Profit	1	0	14	15	17	21	28	27	-6	8	32	39	40
OPM %	19%	0%	21%	23%	23%	25%	32%	32%	-24%	16%	34%	36%	36%
Other Income	4	3	-9	3	2	1	2	1	1	1	2	2	3
Interest	6	30	31	30	31	27	28	25	22	24	25	26	26
Depreciation	1	11	15	15	14	14	14	14	14	7	7	7	8
Profit before tax	-1	-39	-41	-28	-27	-19	-12	-12	-41	-22	3	7	10
Tax %	370%	15%	10%	11%	-26%	-13%	-14%	-24%	-26%	-29%	556%	47%
Net Profit	-7	-45	-45	-31	-20	-16	-10	-9	-30	-16	-12	4	6
EPS in Rs	-5.66	-37.19	-27.93	-19.10	-12.42	-8.38	-5.36	-4.52	-15.61	-8.05	-5.98	2.00	3.09
Dividend Payout %	-9%	-0%	-0%	-0%	-0%	-0%	-0%	-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 (%)	-542.86%	0.00%	31.11%	35.48%	20.00%	37.50%	10.00%	-233.33%	46.67%	25.00%	133.33%
Change in YoY Net Profit Growth (%)	0.00%	542.86%	31.11%	4.37%	-15.48%	17.50%	-27.50%	-243.33%	280.00%	-21.67%	108.33%

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:	10%
5 Years:	4%
3 Years:	65%
TTM:	10%

Compounded Profit Growth
10 Years:	8%
5 Years:	19%
3 Years:	28%
TTM:	165%

Stock Price CAGR
10 Years:	23%
5 Years:	61%
3 Years:	83%
1 Year:	125%

Return on Equity
10 Years:	-11%
5 Years:	-7%
3 Years:	-5%
Last Year:	2%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 1:31 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	12	12	16	16	20	20	20	20	20	20	20	20	20
Reserves	96	51	32	1	234	218	200	186	154	138	126	129	136
Borrowings	338	382	391	402	292	287	287	274	328	347	331	311	297
Other Liabilities	39	43	44	52	40	42	36	39	28	25	29	34	36
Total Liabilities	486	489	482	470	585	567	543	519	529	530	505	494	489
Fixed Assets	442	441	431	418	475	461	448	435	422	416	411	406	404
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	2	1	8	6	21	22	14	2	2	3	3	3	2
Other Assets	42	47	44	47	89	85	82	82	105	111	91	85	83
Total Assets	486	489	482	470	585	567	543	519	529	530	505	494	489

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 +	0	-2	-29	17	2	29	34	29	-14	3	42	49
Cash from Investing Activity +	-47	-15	29	3	-1	0	6	10	0	-0	-2	-1
Cash from Financing Activity +	44	21	-1	-20	1	-29	-38	-42	16	-6	-41	-45
Net Cash Flow	-2	4	-0	1	1	0	2	-3	2	-3	-1	2

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	-337.00	-382.00	-377.00	-387.00	-275.00	-266.00	-259.00	-247.00	-334.00	-339.00	-299.00	-272.00

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	67	19	19	30	15	14	14	11	26	20	12	12
Inventory Days	3,986	1,206	852	981	742	768	460	700	1,480	778	568	521
Days Payable	436	272	450	809	798	681	405	705	1,166	394	346	390
Cash Conversion Cycle	3,617	953	422	202	-41	101	70	6	340	404	234	143
Working Capital Days	-848	50	-7	-52	58	13	-7	-41	20	39	16	16
ROCE %	1%	-2%	0%	1%	1%	1%	3%	3%	-4%	0%	6%	7%

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	69.11%	69.11%	69.11%	69.10%	69.10%	69.10%	69.10%	69.10%	69.10%	69.10%	69.10%	69.10%
DIIs	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	30.87%	30.87%	30.87%	30.89%	30.88%	30.87%	30.87%	30.88%	30.87%	30.87%	30.86%	30.86%
No. of Shareholders	71,312	70,842	70,487	70,145	69,717	69,327	68,924	68,268	67,721	67,140	66,741	66,559

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE 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.)	2.00	-5.98	-8.05	-15.61	-4.52
Diluted EPS (Rs.)	2.00	-5.98	-8.05	-15.61	-4.52
Cash EPS (Rs.)	5.74	-2.23	-4.21	-8.49	2.66
Book Value[Excl.RevalReserv]/Share (Rs.)	75.13	73.18	79.09	86.20	98.95
Book Value[Incl.RevalReserv]/Share (Rs.)	75.13	73.18	79.09	86.20	98.95
Revenue From Operations / Share (Rs.)	55.44	48.87	25.56	12.37	41.58
PBDIT / Share (Rs.)	20.72	17.38	4.75	-2.52	13.95
PBIT / Share (Rs.)	16.95	13.72	1.03	-9.43	6.83
PBT / Share (Rs.)	3.71	1.29	-11.15	-20.81	-5.83
Net Profit / Share (Rs.)	1.97	-5.89	-7.94	-15.39	-4.46
NP After MI And SOA / Share (Rs.)	1.97	-5.89	-7.94	-15.39	-4.46
PBDIT Margin (%)	37.37	35.57	18.60	-20.42	33.54
PBIT Margin (%)	30.57	28.07	4.01	-76.22	16.42
PBT Margin (%)	6.69	2.65	-43.61	-168.27	-14.03
Net Profit Margin (%)	3.55	-12.05	-31.07	-124.45	-10.72
NP After MI And SOA Margin (%)	3.55	-12.05	-31.07	-124.45	-10.72
Return on Networth / Equity (%)	2.62	-8.05	-10.04	-17.85	-4.50
Return on Capital Employeed (%)	7.81	6.11	0.42	-3.89	2.89
Return On Assets (%)	0.78	-2.30	-2.95	-5.73	-1.69
Long Term Debt / Equity (X)	1.11	1.31	1.37	1.17	0.87
Total Debt / Equity (X)	1.39	1.56	1.55	1.26	0.95
Asset Turnover Ratio (%)	0.21	0.18	0.09	0.04	0.15
Current Ratio (X)	0.60	0.68	0.91	0.93	0.67
Quick Ratio (X)	0.38	0.45	0.64	0.65	0.40
Interest Coverage Ratio (X)	1.57	1.40	0.39	-0.22	1.10
Interest Coverage Ratio (Post Tax) (X)	1.15	0.52	0.34	-0.35	0.64
Enterprise Value (Cr.)	423.20	385.70	363.10	314.13	276.02
EV / Net Operating Revenue (X)	3.87	4.00	7.20	12.87	3.36
EV / EBITDA (X)	10.35	11.24	38.69	-63.03	10.03
MarketCap / Net Operating Revenue (X)	1.13	0.70	0.69	0.82	0.13
Price / BV (X)	0.83	0.46	0.22	0.11	0.05
Price / Net Operating Revenue (X)	1.13	0.70	0.69	0.82	0.13
EarningsYield	0.03	-0.17	-0.44	-1.50	-0.78

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 51.94

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 22, 2024, is Overvalued by 49.08% compared to the current share price 102.00

Intrinsic Value of as of December 22, 2024 is: 94.27

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 22, 2024, is Overvalued by 7.58% compared to the current share price 102.00

Last 5 Year EPS CAGR: 81.51%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -61.92, which is a positive sign.	The stock has a low average ROCE of 1.42%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 236.42, which may not be favorable. The company has higher borrowings (328.23) compared to reserves (130.85), which may suggest financial risk. The company has not shown consistent growth in sales (69.00) and profit (-17.08).

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: 3.55%
  - 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: 7.81% (Industry Average ROCE: 21.78%)
  - 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%: 2.62% (Industry Average ROE: 22.99%)
  - 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): 1.15
  - 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: 0.38
  - 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: 26.6 (Industry average Stock P/E: 33.11)
  - 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: 1.39
  - 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

HB Estate Developers Ltd. is a Public Limited Listed company incorporated on 20/09/1994 and has its registered office in the State of Haryana, India. Company’s Corporate Identification Number(CIN) is L99999HR1994PLC034146 and registration number is 034146. Currently Company is involved in the business activities of Construction of buildings carried out on own-account basis or on a fee or contract basis. Company’s Total Operating Revenue is Rs. 50.43 Cr. and Equity Capital is Rs. 19.73 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Construction, Contracting & Engineering	Plot No. 31, Gurgaon Haryana 122001	corporate@hbestate.com http://www.hbestate.com

Management
Name	Position Held
Mr. Lalit Bhasin	Chairman
Mr. Rajesh Jain	Director
Mr. Anil Goyal	Director
Ms. Asha Mehra	Director
Mr. Sunil Malik	Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹51.94, which is 49.08% lower than the current market price of ₹102.00. The stock has a market capitalization of 198 Cr. and recorded a high/low of 125/45.0 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹136 Cr and total liabilities of ₹489 Cr.

What is the Market Cap of ?

The Market Cap of is 198 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 102.

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

In FY 2024-2025, the High / Low of stocks is 125/45.0.

What is the Stock P/E of ?

The Stock P/E of is 26.6.

What is the Book Value of ?

The Book Value of is 80.1.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 7.00 %.

What is the ROE of ?

The ROE of is 2.39 %.

What is the Face Value of ?

The Face Value of is 10.0.