BSE: 532832 | NSE: EMBDL | Construction - Real Estate | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Equinox India Developments Ltd is a below average quality company.
The key valuation ratios of Equinox India Developments Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Equinox India Developments Ltd is likely to Fall 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 % ⓘ | 3.5% | 4.2% | 4% | 3.5% | 4.7% | 2.6% | 0.3% | -0.1% | -5.4% | -67.9% | - |
| Value Creation Index ⓘ | -0.8 | -0.7 | -0.7 | -0.7 | -0.7 | -0.8 | -1.0 | -1.0 | -1.4 | -6.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 35.5 | 17.4 | 27.2 | 82.4 | 117 | 363 | 6 | 0 | 2.8 | 42 | 54 |
| Sales YoY Gr. | - | -51% | 56.5% | 202.8% | 42.1% | 209.9% | -98.4% | -100% | NA | 1,409.7% | - |
| Adj EPS ⓘ | 0.5 | 0.3 | 0.2 | -0.6 | 2.3 | -0.2 | -3.1 | -1.3 | -2.4 | -19.8 | -56.5 |
| YoY Gr. | - | -50% | -25.9% | -395% | NA | -109.5% | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 135.5 | 132.1 | 128.9 | 145.8 | 144.7 | 141.7 | 139.9 | 139.9 | 124.5 | 60.8 | 79.2 |
| Adj Net Profit ⓘ | 23 | 12.4 | 9.7 | -28 | 104 | -10.2 | -140 | -57 | -130 | -1,072 | -3,597 |
| Cash Flow from Ops. ⓘ | 12.6 | -483 | 385 | -57.3 | 26 | 111 | -12.8 | 5.5 | 16.7 | -20.7 | - |
| Debt/CF from Ops. ⓘ | 223.8 | -6.4 | 9 | -56 | 154.3 | 20.5 | -40.8 | 92.2 | 8.7 | -15.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 1.9% | -18.6% | 91.7% | 1409.7% | ||||
| Adj EPS ⓘ | -249.2% | -253.7% | NA | NA | ||||
| BVPSⓘ | -8.5% | -15.9% | -24.3% | -51.2% | ||||
| Share Price | 5.4% | 12.2% | -9.7% | 33.1% | ||||
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 % ⓘ | 0.4 | 0.2 | 0.2 | -0.4 | 1.5 | -0.2 | -2.2 | -0.9 | -2 | -21.4 | -80.8 |
| Op. Profit Mgn % ⓘ | 12.3 | -169.7 | -61.2 | 55.2 | 69.4 | 28.3 | -258.1 | 0 | -724.1 | -29 | -13.7 |
| Net Profit Mgn % ⓘ | 64.7 | 71.1 | 35.5 | -34 | 88.8 | -2.8 | -2347.4 | 0 | -4662.6 | -2553.7 | -6633.3 |
| Debt to Equity ⓘ | 0.5 | 0.5 | 0.6 | 0.5 | 0.6 | 0.4 | 0.1 | 0.1 | 0 | 0.1 | 0 |
| Working Cap Days ⓘ | 31,724 | 73,660 | 45,348 | 14,278 | 11,275 | 4,392 | 2,31,316 | 0 | 4,34,359 | 21,367 | 1,449 |
| Cash Conv. Cycle ⓘ | 482 | 1,363 | 971 | 324 | 234 | 39 | 55 | 0 | 118 | 220 | 132 |
Sales growth is growing at healthy rate in last 3 years 91.67%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -56.5 | -5.4 |
| TTM Sales (₹ Cr.) | 54.2 | 755 |
| BVPS (₹.) ⓘ | 79.2 | 71.8 |
| Reserves (₹ Cr.) ⓘ | 4,914 | 4,440 |
| P/BV ⓘ | 1.46 | 1.62 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 85.50 / 164.40 |
| All Time Low / High (₹) | 36.85 / 847.80 |
| Market Cap (₹ Cr.) | 7,383 |
| Equity (₹ Cr.) | 127.3 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 80.6 |
| 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 | 35 | 17 | 27 | 82 | 117 | 363 | 6 | 0 | 3 | 42 |
| Operating Expenses ⓘ | 31 | 47 | 44 | 38 | 73 | 374 | 23 | 18 | 409 | 56 |
| Manufacturing Costs | 3 | 4 | 3 | 2 | 3 | 2 | 1 | 0 | 0 | 30 |
| Material Costs | 0 | 0 | 0 | 0 | 0 | 70 | 0 | 0 | 0 | 0 |
| Employee Cost | 4 | 11 | 10 | 6 | 6 | 2 | 2 | 7 | 15 | 5 |
| Other Costs ⓘ | 24 | 32 | 31 | 30 | 65 | 299 | 19 | 11 | 393 | 21 |
| Operating Profit ⓘ | 4 | -29 | -17 | 45 | 44 | -11 | -17 | -18 | -406 | -14 |
| Operating Profit Margin (%) | 12.0% | -169.0% | -61.2% | 54.5% | 37.3% | -3.2% | -277.0% | - | -14,594.6% | -32.9% |
| Other Income ⓘ | 283 | 408 | 398 | 301 | 438 | 272 | 41 | 10 | 39 | 38 |
| Interest ⓘ | 274 | 304 | 363 | 361 | 330 | 302 | 160 | 46 | 27 | 20 |
| Depreciation ⓘ | 5 | 3 | 1 | 1 | 1 | 10 | 4 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3,583 |
| Profit Before Tax ⓘ | 9 | 72 | 17 | -16 | 150 | -51 | -139 | -55 | -396 | -3,580 |
| Tax ⓘ | -14 | 7 | 0 | 4 | 44 | 35 | 0 | 1 | 1 | 0 |
| Profit After Tax | 23 | 66 | 17 | -20 | 106 | -85 | -140 | -56 | -397 | -3,580 |
| PAT Margin (%) | 65.0% | 377.2% | 63.8% | -24.0% | 90.6% | -23.5% | -2,341.1% | - | -14,271.2% | -8,530.5% |
| Adjusted EPS (₹) | 0.5 | 1.4 | 0.4 | -0.4 | 2.4 | -1.9 | -3.1 | -1.3 | -7.3 | -66.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 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 | 5,759 | 6,100 | 6,168 | 6,923 | 6,522 | 6,443 | 6,316 | 6,335 | 6,737 | 3,289 |
| Share Capital ⓘ | 85 | 92 | 96 | 95 | 90 | 91 | 90 | 91 | 108 | 108 |
| Reserves ⓘ | 5,674 | 6,008 | 6,072 | 6,828 | 6,432 | 6,352 | 6,226 | 6,245 | 6,628 | 3,180 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 2,515 | 2,653 | 2,554 | 2,429 | 3,170 | 582 | 403 | 136 | 144 | 313 |
| Long Term Debt | 2,080 | 2,345 | 1,714 | 1,450 | 2,101 | 462 | 224 | 0 | 0 | 0 |
| Short Term Debt | 435 | 308 | 840 | 979 | 1,068 | 120 | 179 | 136 | 144 | 313 |
| Trade Payables | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others Liabilities ⓘ | 437 | 721 | 926 | 759 | 928 | 1,824 | 141 | 405 | 9 | 49 |
| Total Liabilities ⓘ | 8,714 | 9,475 | 9,648 | 10,110 | 10,620 | 8,849 | 6,860 | 6,877 | 6,890 | 3,650 |
Fixed Assets | ||||||||||
| Gross Block | 31 | 32 | 29 | 25 | 25 | 50 | 20 | 23 | 9 | 8 |
| Accumulated Depreciation | 25 | 27 | 26 | 22 | 23 | 30 | 19 | 18 | 5 | 6 |
| Net Fixed Assetsⓘ | 7 | 5 | 3 | 2 | 2 | 20 | 1 | 5 | 4 | 2 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 5,042 | 5,238 | 6,211 | 6,895 | 6,097 | 3,838 | 3,793 | 3,854 | 3,201 | 2,334 |
| Inventories | 59 | 70 | 71 | 71 | 71 | 1 | 1 | 1 | 1 | 1 |
| Trade Receivables | 0 | 3 | 2 | 2 | 6 | 0 | 0 | 0 | 0 | 49 |
| Cash Equivalents | 111 | 772 | 136 | 67 | 86 | 256 | 60 | 18 | 67 | 19 |
| Others Assetsⓘ | 3,495 | 3,388 | 3,225 | 3,072 | 4,358 | 4,734 | 3,004 | 2,998 | 3,617 | 1,246 |
| Total Assets ⓘ | 8,714 | 9,475 | 9,648 | 10,110 | 10,620 | 8,849 | 6,860 | 6,877 | 6,890 | 3,650 |
| 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 ⓘ | 13 | -483 | 385 | -57 | 26 | 111 | -13 | 6 | 17 | -21 |
| PBT ⓘ | 9 | 72 | 17 | -16 | 150 | -51 | -139 | -55 | -396 | -3,580 |
| Adjustment ⓘ | -5 | -84 | -18 | 62 | -164 | 99 | 118 | 46 | 377 | 3,575 |
| Changes in Working Capital ⓘ | 40 | -454 | 395 | -87 | 50 | 42 | -49 | -0 | -2 | -12 |
| Tax Paid ⓘ | -32 | -17 | -9 | -16 | -10 | 22 | 57 | 16 | 38 | -4 |
| Cash Flow From Investing Activity ⓘ | -756 | 547 | -845 | 720 | -31 | 1,897 | 1,946 | 47 | -455 | -130 |
| Capex | -2 | -1 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Net Investments | -184 | 163 | -60 | -154 | 76 | -139 | 230 | 94 | 333 | 155 |
| Others ⓘ | -569 | 384 | -785 | 874 | -106 | 2,036 | 1,715 | -47 | -788 | -285 |
| Cash Flow From Financing Activityⓘ | 765 | 521 | -173 | -693 | 18 | -2,020 | -1,941 | -47 | 438 | 153 |
| Net Proceeds from Shares ⓘ | 0 | 538 | 9 | 13 | 11 | 22 | 0 | 8 | 854 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 880 | -40 | -1,188 | 0 | 0 | 0 |
| Interest Paid ⓘ | -261 | -298 | -340 | -396 | -327 | -285 | -156 | -41 | -47 | -14 |
| Dividend Paid ⓘ | -38 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1,064 | 281 | 158 | -310 | -546 | -1,717 | -597 | -14 | -369 | 167 |
| Net Cash Flow ⓘ | 22 | 585 | -633 | -31 | 13 | -12 | -8 | 5 | -1 | 2 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.4 | 1.11 | 0.28 | -0.3 | 1.58 | -1.32 | -2.19 | -0.89 | -6.07 | -71.42 |
| ROCE (%) | 3.52 | 4.17 | 3.98 | 3.49 | 4.65 | 2.6 | 0.27 | -0.13 | -5.37 | -67.88 |
| Asset Turnover Ratio | 0 | 0 | 0 | 0.01 | 0.01 | 0.04 | 0 | 0 | 0 | 0.01 |
| PAT to CFO Conversion(x) | 0.57 | -7.32 | 22.65 | N/A | 0.25 | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 5 | 35 | 32 | 8 | 12 | 0 | 0 | 0 | 0 | 423 |
| Inventory Days | 536 | 1,353 | 946 | 316 | 222 | 36 | 55 | 0 | 118 | 8 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Indiabulls Real Estate (IBREL), incorporated in 2006, is India’s third largest property company. It has various development projects in the residential, commercial, hotels, malls, and Special Economic Zone (SEZ) segments.
IBREL's projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs. IBREL has projects with total land area in excess of 10000 acres
Projects
Commercial Development - Under this it has various projects for developing commercial infrastructure. Some of its projects are One Indiabulls Centre, Indiabulls Finance Mills and India Bulls Mega Mall project.
Residential development - Under this segment it has several residential developments across country such as Vatika, Ahmedabad, Centrum, Madurai and Hyderabad, Enigma, Gurgoan, Sonepat Township and many more.
Special Economic Zone (SEZ) - It is also in development of SEZs such as Nashik SEZ.
IBREL also ventured into the power business on September 2007. It is developing power projects across country and internationally. It participating in coal-based thermal, hydro and renewable energy projects with aggregate capacity of 9412 MW
Recognition
IBREL's commercial project One Indiabulls Centre (One BC) has received a LEED (Leadership in energy and Environmental design) gold rating. It is among 100 gold rated buildings in the world.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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