BSE: 523716 | NSE: ASHIANA | Construction - Real Estate | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ashiana Housing Ltd is a below average quality company.
The key valuation ratios of Ashiana Housing Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ashiana Housing Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.3% | 23.7% | 13.3% | 7.2% | 4.7% | -2.1% | 2% | 0.6% | 6.5% | 13.1% | - |
| Value Creation Index ⓘ | -0.1 | 0.7 | -0.1 | -0.5 | -0.7 | -1.2 | -0.9 | -1.0 | -0.5 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 120 | 506 | 356 | 289 | 302 | 262 | 202 | 172 | 353 | 878 | 584 |
| Sales YoY Gr. | - | 320.9% | -29.6% | -18.8% | 4.4% | -13.1% | -23.2% | -14.7% | 105.1% | 148.9% | - |
| Adj EPS ⓘ | 4 | 10.4 | 6.2 | 3.5 | 1.7 | -1.7 | -0.2 | -0.6 | 2.6 | 7.6 | 3.1 |
| YoY Gr. | - | 161.5% | -40.2% | -43.5% | -52.4% | -201.2% | NA | NA | NA | 191.6% | - |
| BVPS (₹) ⓘ | 50.9 | 63.6 | 70.7 | 74.9 | 76.7 | 73.7 | 73.9 | 72.4 | 74.6 | 76.7 | 75.4 |
| Adj Net Profit ⓘ | 40.7 | 106 | 63.6 | 36 | 17.1 | -17.3 | -1.6 | -6.1 | 26.8 | 76.8 | 31 |
| Cash Flow from Ops. ⓘ | -21.1 | -102 | -49.2 | -58.1 | -13.8 | 33.9 | 118 | -86.5 | 0.9 | 201 | - |
| Debt/CF from Ops. ⓘ | -1.7 | -0.7 | -1.8 | -2.3 | -11.6 | 3.7 | 0.4 | -1.9 | 199.1 | 0.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 24.7% | 23.8% | 63.3% | 148.9% | ||||
| Adj EPS ⓘ | 7.5% | 35.5% | NA | 191.6% | ||||
| BVPSⓘ | 4.7% | -0% | 1.3% | 2.8% | ||||
| Share Price | 5.8% | 26% | 16.7% | 20.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 10.1 | 18.1 | 9.3 | 4.8 | 2.2 | -2.3 | -0.2 | -0.8 | 3.6 | 10 | 4 |
| Op. Profit Mgn % ⓘ | 33.2 | 28.5 | 26.8 | 19.8 | 13.4 | -1.7 | 4.7 | 3.8 | 15.7 | 12.3 | 6.5 |
| Net Profit Mgn % ⓘ | 33.8 | 21 | 17.9 | 12.4 | 5.7 | -6.6 | -0.8 | -3.5 | 7.6 | 8.7 | 5.3 |
| Debt to Equity ⓘ | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.3 |
| Working Cap Days ⓘ | 1,723 | 558 | 913 | 1,179 | 1,107 | 1,237 | 1,703 | 2,631 | 1,703 | 781 | 2,624 |
| Cash Conv. Cycle ⓘ | 1,354 | 421 | 659 | 827 | 755 | 862 | 1,203 | 2,107 | 1,390 | 621 | 888 |
Sales growth is growing at healthy rate in last 3 years 63.33%
Sales growth is good in last 4 quarters at 34.74%
Return on Equity has declined versus last 3 years average to 4.00%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.1 | 3.2 |
| TTM Sales (₹ Cr.) | 584 | 651 |
| BVPS (₹.) ⓘ | 75.4 | 75.3 |
| Reserves (₹ Cr.) ⓘ | 738 | 737 |
| P/BV ⓘ | 4.06 | 4.07 |
| PE ⓘ | 100.28 | 95.67 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 243.75 / 468.00 |
| All Time Low / High (₹) | 0.03 / 468.00 |
| Market Cap (₹ Cr.) | 3,079 |
| Equity (₹ Cr.) | 20.1 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 72.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 120 | 506 | 356 | 289 | 302 | 262 | 202 | 172 | 353 | 878 |
| Operating Expenses ⓘ | 80 | 362 | 261 | 232 | 261 | 267 | 192 | 166 | 297 | 770 |
| Manufacturing Costs | 61 | 86 | 85 | 69 | 52 | 61 | 53 | 79 | 137 | 154 |
| Material Costs | -44 | 180 | 84 | 81 | 120 | 114 | 67 | -3 | 45 | 453 |
| Employee Cost | 32 | 50 | 47 | 37 | 34 | 35 | 32 | 41 | 57 | 72 |
| Other Costs ⓘ | 32 | 46 | 45 | 45 | 55 | 57 | 40 | 48 | 59 | 91 |
| Operating Profit ⓘ | 40 | 144 | 95 | 57 | 40 | -5 | 10 | 6 | 55 | 108 |
| Operating Profit Margin (%) | 33.2% | 28.5% | 26.8% | 19.8% | 13.4% | -1.7% | 4.7% | 3.7% | 15.7% | 12.3% |
| Other Income ⓘ | 20 | 14 | 14 | 12 | 11 | 12 | 16 | 10 | 12 | 24 |
| Interest ⓘ | 5 | 6 | 10 | 13 | 17 | 17 | 13 | 17 | 28 | 18 |
| Depreciation ⓘ | 8 | 8 | 8 | 7 | 8 | 9 | 9 | 8 | 8 | 9 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -17 | 0 | -4 | 0 | 0 |
| Profit Before Tax ⓘ | 47 | 145 | 92 | 48 | 27 | -36 | 3 | -12 | 32 | 104 |
| Tax ⓘ | 2 | 37 | 24 | 10 | 9 | -8 | -1 | -6 | 5 | 24 |
| Profit After Tax | 46 | 108 | 67 | 39 | 18 | -28 | 4 | -6 | 27 | 80 |
| PAT Margin (%) | 38.0% | 21.3% | 18.8% | 13.4% | 5.9% | -10.7% | 1.8% | -3.4% | 7.7% | 9.1% |
| Adjusted EPS (₹) | 4.5 | 10.6 | 6.6 | 3.8 | 1.7 | -2.8 | 0.4 | -0.6 | 2.6 | 8.0 |
| Dividend Payout Ratio (%) | 11% | 5% | 4% | 7% | 14% | -11% | 113% | -155% | 19% | 19% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 521 | 651 | 723 | 766 | 785 | 754 | 756 | 741 | 764 | 771 |
| Share Capital ⓘ | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| Reserves ⓘ | 500 | 630 | 703 | 746 | 765 | 734 | 735 | 721 | 743 | 751 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 33 | 67 | 79 | 120 | 143 | 104 | 50 | 161 | 179 | 147 |
| Long Term Debt | 33 | 57 | 78 | 63 | 143 | 104 | 47 | 156 | 165 | 128 |
| Short Term Debt | 0 | 10 | 1 | 56 | 0 | 0 | 4 | 5 | 14 | 19 |
| Trade Payables | 14 | 19 | 13 | 16 | 11 | 20 | 23 | 24 | 36 | 48 |
| Others Liabilities ⓘ | 538 | 440 | 402 | 309 | 223 | 248 | 456 | 856 | 1,125 | 1,340 |
| Total Liabilities ⓘ | 1,106 | 1,177 | 1,218 | 1,211 | 1,163 | 1,126 | 1,285 | 1,781 | 2,103 | 2,306 |
Fixed Assets | ||||||||||
| Gross Block | 87 | 71 | 73 | 75 | 89 | 101 | 94 | 92 | 87 | 114 |
| Accumulated Depreciation | 24 | 8 | 15 | 21 | 27 | 34 | 38 | 40 | 39 | 42 |
| Net Fixed Assetsⓘ | 62 | 63 | 59 | 54 | 62 | 68 | 56 | 52 | 48 | 73 |
| CWIP ⓘ | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 |
| Investmentsⓘ | 291 | 180 | 192 | 206 | 168 | 112 | 105 | 115 | 80 | 79 |
| Inventories | 568 | 614 | 669 | 637 | 625 | 620 | 741 | 1,247 | 1,529 | 1,526 |
| Trade Receivables | 6 | 19 | 15 | 14 | 11 | 18 | 13 | 11 | 21 | 29 |
| Cash Equivalents | 46 | 88 | 33 | 18 | 35 | 66 | 124 | 95 | 113 | 182 |
| Others Assetsⓘ | 128 | 213 | 250 | 281 | 263 | 243 | 246 | 261 | 309 | 418 |
| Total Assets ⓘ | 1,106 | 1,177 | 1,218 | 1,211 | 1,163 | 1,126 | 1,285 | 1,781 | 2,103 | 2,306 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -21 | -102 | -49 | -58 | -14 | 34 | 118 | -86 | 1 | 201 |
| PBT ⓘ | 47 | 145 | 92 | 48 | 27 | -19 | 3 | -8 | 32 | 104 |
| Adjustment ⓘ | -51 | 1 | 7 | 13 | 18 | 19 | 11 | 3 | 17 | 8 |
| Changes in Working Capital ⓘ | -15 | -220 | -136 | -110 | -53 | 53 | 105 | -75 | -42 | 110 |
| Tax Paid ⓘ | -2 | -28 | -12 | -9 | -6 | -1 | -1 | -3 | -7 | -21 |
| Cash Flow From Investing Activity ⓘ | -201 | 139 | -7 | 19 | 28 | 57 | 13 | -25 | 30 | -4 |
| Capex | -21 | -11 | -6 | -17 | -9 | -4 | 13 | -4 | -15 | -30 |
| Net Investments | -189 | 138 | -13 | 28 | 30 | 54 | -4 | -27 | 37 | 25 |
| Others ⓘ | 9 | 12 | 11 | 7 | 6 | 7 | 4 | 6 | 8 | 1 |
| Cash Flow From Financing Activityⓘ | 221 | 20 | 1 | 24 | 4 | -60 | -73 | 82 | -13 | -128 |
| Net Proceeds from Shares ⓘ | 200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 28 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -3 | -10 | -13 | -17 | -17 | -13 | -17 | -28 | -18 |
| Dividend Paid ⓘ | -5 | -12 | 0 | -3 | -3 | -4 | -3 | -8 | -5 | -5 |
| Others ⓘ | 0 | 34 | 11 | 41 | 23 | -40 | -56 | 107 | 20 | -104 |
| Net Cash Flow ⓘ | -1 | 57 | -55 | -15 | 17 | 31 | 58 | -29 | 18 | 69 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.37 | 18.44 | 9.77 | 5.2 | 2.28 | -3.66 | 0.48 | -0.79 | 3.6 | 10.45 |
| ROCE (%) | 12.27 | 23.65 | 13.31 | 7.22 | 4.68 | -2.14 | 1.97 | 0.55 | 6.48 | 13.14 |
| Asset Turnover Ratio | 0.14 | 0.44 | 0.3 | 0.24 | 0.25 | 0.23 | 0.17 | 0.11 | 0.18 | 0.4 |
| PAT to CFO Conversion(x) | -0.46 | -0.94 | -0.73 | -1.49 | -0.78 | N/A | 29.5 | N/A | 0.04 | 2.51 | Working Capital Days |
| Receivable Days | 14 | 9 | 17 | 18 | 15 | 20 | 28 | 26 | 17 | 10 |
| Inventory Days | 1,400 | 427 | 658 | 825 | 763 | 866 | 1,232 | 2,109 | 1,436 | 635 |
| Payable Days | -101 | 34 | 70 | 66 | 41 | 50 | 117 | -2,907 | 242 | 34 |
Ashiana Housing was incorporated as a public limited company on Jun. 25, 1986 and got its present name on May 4, 2007. The registered office is located at 5-F Everest, 46/C, Chowringhee Road, Kolkata-700071. It is a real estate developer with a focus on housing. The company is part of the Ashiana group which commenced real estate development operations at Patna in 1979 and since then has extended its activities to Jamshedpur, Ghaziabad, Indirapuram, Bhiwadi, Gurgaon, Greater Noida, Jaipur, Jodhpur and lucknow. Ashiana Homes, a private limited company is also part of the group.
The company operates in the Jamshedpur, Bhiwadi, Jaipur, Jodhpur and Lucknow areas and has successfully completed housing projects such as Ashiana Villas and Ashiana Rangoli in Bhiwadi, Residency Greens and Ashiana Suncity in Jamshedpur, Plaza and Shantiniketan in Patna. It has successfully entered into development of commercial real estate with projects like the Ashiana Village Mall and Ashiana Gymkhana Club in Bhiwadi.
It has entered into joint venture for Greenwoods in Jaipur and Amarbagh in Jodhpur. Vatika Marketing and Ashiana Retirement Villages are subsidiaries of the company. It has branch offices at Jamshedpur, Bhiwadi and Jaipur.
Milestones
2010
Ashiana Hous - Hands over Ashiana Aangan Phase-II.
Ashiana Hous - Launch of Phase -2 of Utsav Project in Lavasa.
Launched Rangoli Gardens in Jaipur - the largest project of company till date
Got listed under Forbes Asia's Best Under a Billion 200 list of companies twice in a row.
Awarded for the Corporate Social Responsibility work at Bhiwadi second time. (2012, 2010)
2011
Launched Utsav Care Homes.
AshinaHsng&F - Forbes Ranks Ashiana Housing Ltd in 'Asia's Best Under a Billion' Companies.
Ashiana Aangan and Woodlands awarded Best Residential Projects in Zee Business RICS Property Awards 2011.
Awarded as India’s Best Residential Project in North - Ashiana Aangan, Bhiwadi & Awarded as India’s Best Residential Project East - Ashiana Woodlands, Jamshedpur
2012
CREDAI India awards Ashiana Utsav, Bhiwadi the Best Theme Based Township (Non-Metro).
Awarded for Best affordable housing in India & NCR by CNBC Awaaz Real Estate awards 2012
Ashiana Utsav - Senior Living, Bhiwadi awarded as the Best Theme Based Township under non-metro category
Ashiana Aangan, Bhiwadi awarded as Best Affordable Housing in India & also awarded as Best Affordable Housing in Delhi - NCR
2013
Unveiled new identity of Ashiana
Awarded for the contribution made in the field of Education by Govt. of Rajasthan 2013
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