BSE: 531746 | NSE: PRAENG | Construction - Real Estate | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Prajay Engineers Syndicate Ltd is a below average quality company.
The key valuation ratios of Prajay Engineers Syndicate 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 Prajay Engineers Syndicate 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 % ⓘ | -2.2% | -1% | -0.4% | -0% | 0.2% | 0.2% | 0.6% | 0.7% | -0.5% | -4.4% | - |
| Value Creation Index ⓘ | -1.2 | -1.1 | -1.0 | -1.0 | -1.0 | -1.0 | -1.0 | -1.0 | -1.0 | -1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 55.8 | 72.7 | 52.3 | 36.6 | 46.8 | 49.3 | 38.7 | 93.1 | 29.8 | 25 | 33 |
| Sales YoY Gr. | - | 30.3% | -28.1% | -29.9% | 27.8% | 5.4% | -21.6% | 140.6% | -67.9% | -16.3% | - |
| Adj EPS ⓘ | -3.4 | -3.5 | -3 | -2.8 | -1.9 | -0.7 | -0.4 | -0.2 | -1.1 | -4.5 | -4.3 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 91 | 90 | 86.9 | 84.1 | 82.3 | 81.7 | 81.3 | 81.1 | 80 | 75.5 | 74.6 |
| Adj Net Profit ⓘ | -23.7 | -24.7 | -21.3 | -19.5 | -12.9 | -4.6 | -2.9 | -1.2 | -7.6 | -31.5 | -30 |
| Cash Flow from Ops. ⓘ | -9.9 | 51 | 55.7 | 31.8 | 33.9 | 13.8 | 6.5 | -2.8 | 3.1 | -29.3 | - |
| Debt/CF from Ops. ⓘ | -18.4 | 3.1 | 2.9 | 5 | 3.2 | 7.2 | 14.7 | -35.2 | 27.6 | -4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -8.6% | -11.8% | -13.6% | -16.3% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -2.1% | -1.7% | -2.5% | -5.6% | ||||
| Share Price | 13.3% | 38.4% | 22.5% | 87.5% | ||||
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 % ⓘ | -3.6 | -3.9 | -3.4 | -3.3 | -2.2 | -0.8 | -0.5 | -0.2 | -1.3 | -5.8 | -5.7 |
| Op. Profit Mgn % ⓘ | -25.3 | -12.7 | -4.3 | -4.2 | 2 | 4.3 | 17.2 | 7 | -61 | -112.9 | -85 |
| Net Profit Mgn % ⓘ | -42.5 | -34 | -40.7 | -53.2 | -27.7 | -9.4 | -7.5 | -1.3 | -25.4 | -126.3 | -89.8 |
| Debt to Equity ⓘ | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0 |
| Working Cap Days ⓘ | 4,558 | 3,431 | 4,651 | 6,612 | 5,095 | 4,538 | 5,497 | 2,135 | 5,979 | 6,529 | 1,901 |
| Cash Conv. Cycle ⓘ | 2,430 | 1,754 | 2,545 | 3,725 | 2,735 | 2,511 | 3,038 | 1,206 | 3,699 | 4,642 | 858 |
Sales growth is good in last 4 quarters at 106.19%
Return on Equity is Poor
Sales growth has been subdued in last 3 years -13.58%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -4.3 | -5.8 |
| TTM Sales (₹ Cr.) | 33.3 | 77.6 |
| BVPS (₹.) ⓘ | 74.6 | 72.2 |
| Reserves (₹ Cr.) ⓘ | 452 | 435 |
| P/BV ⓘ | 0.42 | 0.44 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 16.47 / 46.59 |
| All Time Low / High (₹) | 0.45 / 480.00 |
| Market Cap (₹ Cr.) | 220 |
| Equity (₹ Cr.) | 69.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 79.5 |
| 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 | 56 | 73 | 52 | 37 | 47 | 49 | 39 | 93 | 30 | 25 |
| Operating Expenses ⓘ | 70 | 82 | 55 | 38 | 46 | 47 | 32 | 87 | 48 | 53 |
| Manufacturing Costs | 8 | 8 | 8 | 8 | 7 | 8 | 3 | 6 | 9 | 11 |
| Material Costs | 39 | 53 | 36 | 22 | 30 | 33 | 27 | 74 | 16 | 23 |
| Employee Cost | 6 | 6 | 6 | 4 | 4 | 3 | 1 | 3 | 3 | 3 |
| Other Costs ⓘ | 16 | 15 | 4 | 5 | 5 | 3 | 1 | 4 | 20 | 16 |
| Operating Profit ⓘ | -14 | -9 | -2 | -2 | 1 | 2 | 7 | 6 | -18 | -28 |
| Operating Profit Margin (%) | -25.4% | -12.7% | -4.3% | -4.2% | 1.9% | 4.2% | 17.2% | 7.0% | -61.0% | -112.0% |
| Other Income ⓘ | 2 | 8 | 4 | 6 | 5 | 3 | 1 | 2 | 19 | 3 |
| Interest ⓘ | 6 | 14 | 16 | 19 | 15 | 5 | 6 | 5 | 4 | 2 |
| Depreciation ⓘ | 6 | 6 | 6 | 5 | 4 | 4 | 4 | 4 | 4 | 4 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -24 | -22 | -19 | -19 | -14 | -4 | -2 | -1 | -7 | -31 |
| Tax ⓘ | 0 | 2 | 2 | 1 | -1 | 1 | 1 | 1 | 0 | 1 |
| Profit After Tax | -24 | -25 | -21 | -19 | -13 | -5 | -3 | -1 | -8 | -32 |
| PAT Margin (%) | -42.3% | -34.0% | -40.7% | -53.2% | -27.7% | -9.4% | -7.5% | -1.3% | -25.4% | -126.0% |
| Adjusted EPS (₹) | -3.4 | -3.5 | -3.0 | -2.8 | -1.9 | -0.7 | -0.4 | -0.2 | -1.1 | -4.5 |
| 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 | 636 | 629 | 608 | 588 | 575 | 571 | 569 | 567 | 559 | 528 |
| Share Capital ⓘ | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 |
| Reserves ⓘ | 566 | 559 | 538 | 518 | 505 | 501 | 499 | 497 | 489 | 458 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 115 | 75 | 57 | 65 | 66 | 65 | 68 | 81 | 85 | 116 |
| Long Term Debt | 91 | 50 | 23 | 20 | 19 | 20 | 23 | 26 | 30 | 32 |
| Short Term Debt | 24 | 25 | 34 | 45 | 47 | 45 | 45 | 54 | 55 | 84 |
| Trade Payables | 247 | 235 | 215 | 218 | 208 | 172 | 164 | 144 | 124 | 86 |
| Others Liabilities ⓘ | 154 | 203 | 266 | 299 | 306 | 296 | 295 | 238 | 51 | 47 |
| Total Liabilities ⓘ | 1,153 | 1,143 | 1,145 | 1,170 | 1,154 | 1,105 | 1,095 | 1,030 | 820 | 777 |
Fixed Assets | ||||||||||
| Gross Block | 184 | 144 | 145 | 145 | 145 | 147 | 153 | 154 | 154 | 154 |
| Accumulated Depreciation | 39 | 6 | 12 | 16 | 20 | 25 | 28 | 32 | 36 | 38 |
| Net Fixed Assetsⓘ | 145 | 138 | 134 | 129 | 125 | 122 | 124 | 122 | 118 | 115 |
| CWIP ⓘ | 180 | 197 | 215 | 236 | 254 | 259 | 258 | 261 | 97 | 99 |
| Investmentsⓘ | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 |
| Inventories | 355 | 362 | 366 | 386 | 365 | 340 | 327 | 270 | 267 | 258 |
| Trade Receivables | 236 | 215 | 200 | 199 | 185 | 173 | 175 | 168 | 130 | 98 |
| Cash Equivalents | 1 | 1 | 4 | 4 | 4 | 3 | 3 | 3 | 6 | 2 |
| Others Assetsⓘ | 103 | 95 | 93 | 83 | 89 | 76 | 75 | 73 | 68 | 71 |
| Total Assets ⓘ | 1,153 | 1,143 | 1,145 | 1,170 | 1,154 | 1,105 | 1,095 | 1,030 | 820 | 777 |
| 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 ⓘ | -10 | 51 | 56 | 32 | 34 | 14 | 7 | -3 | 3 | -29 |
| PBT ⓘ | -24 | -22 | -19 | -19 | -14 | -4 | -2 | -1 | -7 | -31 |
| Adjustment ⓘ | 21 | 31 | 21 | 23 | 20 | 8 | 10 | 9 | 8 | 6 |
| Changes in Working Capital ⓘ | -6 | 44 | 55 | 26 | 29 | 5 | -1 | -12 | 2 | -4 |
| Tax Paid ⓘ | -1 | -2 | -1 | 1 | -1 | 5 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -19 | -17 | -19 | -21 | -18 | -6 | -5 | -5 | 0 | -3 |
| Capex | -21 | -17 | -19 | -21 | -18 | -6 | -5 | -5 | 0 | -3 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 27 | -34 | -34 | -11 | -16 | -9 | -2 | 8 | 0 | 29 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 21 | -19 | -27 | -3 | -1 | 1 | 3 | 3 | 4 | 2 |
| Interest Paid ⓘ | -6 | -15 | -16 | -20 | -16 | -9 | -4 | -5 | -4 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 12 | 1 | 9 | 11 | 2 | -2 | -1 | 10 | 1 | 29 |
| Net Cash Flow ⓘ | -1 | 0 | 3 | 0 | 0 | -1 | 0 | 0 | 3 | -4 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -3.63 | -3.91 | -3.44 | -3.26 | -2.23 | -0.81 | -0.51 | -0.21 | -1.34 | -5.8 |
| ROCE (%) | -2.16 | -0.97 | -0.42 | -0.02 | 0.21 | 0.2 | 0.57 | 0.68 | -0.51 | -4.44 |
| Asset Turnover Ratio | 0.05 | 0.06 | 0.05 | 0.03 | 0.04 | 0.04 | 0.04 | 0.09 | 0.03 | 0.03 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 1,591 | 1,133 | 1,450 | 1,986 | 1,496 | 1,323 | 1,643 | 673 | 1,825 | 1,671 |
| Inventory Days | 2,290 | 1,801 | 2,542 | 3,745 | 2,928 | 2,606 | 3,146 | 1,171 | 3,288 | 3,841 |
| Payable Days | 2,316 | 1,650 | 2,283 | 3,625 | 2,570 | 2,080 | 2,291 | 762 | 2,973 | 1,640 |
Prajay Engineers Syndicate was incorporated in 1986 and is based in Hyderabad, India. The company is engaged in the development and construction of residential and commercial properties in Hyderabad and Secunderabad, India.
The company commenced operations in the real estate sector by building low cost residential buildings. It then diversified into high-end apartments, commercial complexes, hospitality ventures, malls, IT parks and large format high-end integrated townships. The company has a strong pipeline of ongoing and future projects to cater to a range of segments. This apart, it has international affiliation.
Business terms of all projects are transparent, and projects are completed within stipulated timelines consistently – enough to merit a good credit rating from banks and financial institutions (FIs).
In its 20 years experience, Prajay has delivered over 75 projects and developed over 5 million square feet. The company aims to invest around Rs 5,000-6,000 million in the coming years to develop the hospitality segment, create 1,000-room capacity by 2011 in the 5-star, 4-star and 3-star business class categories and focus on the residential segment, which currently accounts for 84 percent of the total area under development.
Business portfolio:
Construction
Land
Hospitality
Foundations
Milestones
1986
1994
2005
2006
2007
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