BSE: 533284 | NSE: RPPINFRA | Construction - Real Estate | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that R.P.P. Infra Projects Ltd is a good quality company.
The key valuation ratios of R.P.P. Infra Projects 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 Weak which suggest that the price of R.P.P. Infra Projects 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.3% | 17.5% | 20.3% | 19.5% | 21.9% | 18.9% | 17% | 11.6% | 8.8% | 13.8% | - |
| Value Creation Index ⓘ | 0.1 | 0.3 | 0.5 | 0.4 | 0.6 | 0.4 | 0.2 | -0.2 | -0.4 | 0.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 233 | 263 | 315 | 366 | 499 | 581 | 576 | 478 | 780 | 1,005 | 1,457 |
| Sales YoY Gr. | - | 13% | 19.6% | 16.4% | 36.3% | 16.3% | -0.9% | -17% | 63.2% | 28.9% | - |
| Adj EPS ⓘ | 3.9 | 4.3 | 6.6 | 7.9 | 4.2 | 7.9 | 6.3 | 5 | 2 | 6.7 | 14.7 |
| YoY Gr. | - | 9.5% | 53.6% | 20.7% | -46.8% | 88.4% | -20.4% | -20.6% | -60.9% | 239.8% | - |
| BVPS (₹) ⓘ | 37.3 | 42.9 | 49.6 | 57.6 | 61.6 | 71.2 | 78 | 82.5 | 83.5 | 88.9 | 98.2 |
| Adj Net Profit ⓘ | 11.7 | 12.8 | 19.7 | 23.7 | 12.6 | 23.8 | 18.9 | 15.7 | 7.4 | 25.4 | 73 |
| Cash Flow from Ops. ⓘ | 18.7 | 20.1 | 34.8 | 34 | 58.2 | -17 | 36 | 45.1 | 32.5 | 37.6 | - |
| Debt/CF from Ops. ⓘ | 5 | 5.3 | 2.2 | 2.9 | 2.5 | -8.2 | 3 | 2.7 | 3.2 | 2.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 17.6% | 15% | 20.4% | 28.9% | ||||
| Adj EPS ⓘ | 6.1% | 9.6% | 1.8% | 239.8% | ||||
| BVPSⓘ | 10.1% | 7.6% | 4.4% | 6.4% | ||||
| Share Price | 5.1% | 20.9% | 44.7% | 70.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 10.5 | 10 | 13.7 | 14.6 | 7 | 11.8 | 8.4 | 6.2 | 2.5 | 7.7 | 15.7 |
| Op. Profit Mgn % ⓘ | 13.7 | 13.2 | 15.2 | 13.7 | 13.2 | 10.7 | 9.9 | 7.8 | 3.7 | 4.6 | 5.2 |
| Net Profit Mgn % ⓘ | 5 | 4.9 | 6.3 | 6.5 | 2.5 | 4.1 | 3.3 | 3.3 | 1 | 2.5 | 5 |
| Debt to Equity ⓘ | 0.8 | 0.8 | 0.5 | 0.6 | 0.8 | 0.7 | 0.5 | 0.5 | 0.3 | 0.2 | 0 |
| Working Cap Days ⓘ | 332 | 376 | 367 | 343 | 284 | 275 | 298 | 383 | 274 | 226 | 75 |
| Cash Conv. Cycle ⓘ | 93 | 78 | 52 | 52 | 27 | 12 | 22 | 23 | 31 | 34 | 34 |
Return on Equity has increased versus last 3 years average to 15.70%
Sales growth is growing at healthy rate in last 3 years 20.42%
Sales growth is good in last 4 quarters at 29.84%
Net Profit has been subdued in last 3 years 1.82%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 14.7 | 13 |
| TTM Sales (₹ Cr.) | 1,457 | 1,473 |
| BVPS (₹.) ⓘ | 98.2 | 100.1 |
| Reserves (₹ Cr.) ⓘ | 438 | 448 |
| P/BV ⓘ | 1.74 | 1.71 |
| PE ⓘ | 11.64 | 13.17 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 89.13 / 235.45 |
| All Time Low / High (₹) | 20.55 / 273.16 |
| Market Cap (₹ Cr.) | 849 |
| Equity (₹ Cr.) | 49.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 72.9 |
| Pledged * | 33.51 | 30.94 | 30.94 | 30.94 | 30.94 | 30.94 | 30.94 | 25.79 | 23.37 | 28.52 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 233 | 263 | 315 | 366 | 499 | 581 | 576 | 478 | 780 | 1,005 |
| Operating Expenses ⓘ | 201 | 228 | 268 | 316 | 433 | 519 | 519 | 441 | 751 | 960 |
| Manufacturing Costs | 122 | 158 | 175 | 204 | 244 | 359 | 343 | 299 | 535 | 593 |
| Material Costs | 68 | 54 | 79 | 95 | 163 | 135 | 156 | 122 | 186 | 321 |
| Employee Cost | 6 | 5 | 5 | 5 | 9 | 9 | 13 | 11 | 18 | 31 |
| Other Costs ⓘ | 5 | 12 | 10 | 12 | 18 | 15 | 8 | 9 | 10 | 15 |
| Operating Profit ⓘ | 32 | 35 | 47 | 50 | 66 | 62 | 56 | 37 | 29 | 45 |
| Operating Profit Margin (%) | 13.7% | 13.2% | 14.8% | 13.7% | 13.2% | 10.7% | 9.8% | 7.7% | 3.7% | 4.5% |
| Other Income ⓘ | 6 | 4 | 5 | 3 | 7 | 9 | 10 | 11 | 14 | 22 |
| Interest ⓘ | 16 | 17 | 19 | 17 | 19 | 23 | 24 | 20 | 21 | 19 |
| Depreciation ⓘ | 7 | 7 | 5 | 5 | 7 | 6 | 7 | 6 | 8 | 9 |
| Exceptional Items ⓘ | 0 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 15 | 22 | 28 | 32 | 47 | 41 | 35 | 22 | 14 | 39 |
| Tax ⓘ | 3 | 4 | 7 | 8 | 34 | 17 | 16 | 7 | 6 | 13 |
| Profit After Tax | 12 | 17 | 21 | 24 | 13 | 24 | 19 | 16 | 8 | 26 |
| PAT Margin (%) | 5.0% | 6.6% | 6.6% | 6.5% | 2.7% | 4.2% | 3.4% | 3.2% | 1.1% | 2.6% |
| Adjusted EPS (₹) | 3.9 | 5.8 | 6.9 | 8.0 | 4.5 | 8.1 | 6.4 | 5.0 | 2.3 | 6.9 |
| Dividend Payout Ratio (%) | 10% | 7% | 5% | 5% | 8% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 120 | 136 | 151 | 175 | 187 | 216 | 236 | 261 | 309 | 335 |
| Share Capital ⓘ | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 24 | 37 | 37 |
| Reserves ⓘ | 97 | 113 | 128 | 152 | 165 | 193 | 214 | 238 | 272 | 297 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 81 | 81 | 70 | 75 | 75 | 117 | 95 | 111 | 84 | 50 |
| Long Term Debt | 15 | 7 | 14 | 17 | 12 | 59 | 45 | 68 | 42 | 32 |
| Short Term Debt | 67 | 73 | 56 | 58 | 63 | 58 | 50 | 43 | 41 | 18 |
| Trade Payables | 34 | 118 | 93 | 139 | 97 | 139 | 119 | 128 | 115 | 96 |
| Others Liabilities ⓘ | 40 | 51 | 44 | 68 | 144 | 124 | 119 | 118 | 232 | 254 |
| Total Liabilities ⓘ | 276 | 385 | 359 | 457 | 503 | 595 | 569 | 618 | 739 | 735 |
Fixed Assets | ||||||||||
| Gross Block | 80 | 59 | 48 | 55 | 63 | 90 | 93 | 95 | 114 | 121 |
| Accumulated Depreciation | 35 | 20 | 23 | 26 | 33 | 38 | 45 | 48 | 53 | 54 |
| Net Fixed Assetsⓘ | 45 | 39 | 25 | 28 | 30 | 52 | 48 | 47 | 62 | 67 |
| CWIP ⓘ | 3 | 3 | 4 | 4 | 0 | 6 | 4 | 4 | 3 | 2 |
| Investmentsⓘ | 1 | 1 | 1 | 1 | 1 | 7 | 7 | 7 | 7 | 7 |
| Inventories | 1 | 1 | 3 | 4 | 18 | 20 | 24 | 11 | 18 | 16 |
| Trade Receivables | 79 | 170 | 148 | 223 | 106 | 163 | 147 | 146 | 207 | 169 |
| Cash Equivalents | 12 | 14 | 25 | 40 | 79 | 48 | 52 | 17 | 42 | 37 |
| Others Assetsⓘ | 136 | 157 | 154 | 156 | 270 | 298 | 287 | 386 | 400 | 435 |
| Total Assets ⓘ | 276 | 385 | 359 | 457 | 503 | 595 | 569 | 618 | 739 | 735 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 19 | 20 | 35 | 34 | 58 | -17 | 36 | 45 | 32 | 38 |
| PBT ⓘ | 15 | 22 | 28 | 32 | 47 | 41 | 35 | 22 | 14 | 39 |
| Adjustment ⓘ | 21 | 23 | 23 | 18 | 20 | 27 | 28 | 24 | 18 | 14 |
| Changes in Working Capital ⓘ | -13 | -18 | -7 | -8 | 25 | -68 | -10 | 15 | 14 | -2 |
| Tax Paid ⓘ | -3 | -6 | -8 | -8 | -34 | -17 | -16 | -15 | -14 | -13 |
| Cash Flow From Investing Activity ⓘ | -1 | 0 | 5 | -7 | -4 | -32 | 2 | -3 | -17 | -12 |
| Capex | -2 | 5 | 7 | -9 | -5 | -34 | -1 | -5 | -21 | -18 |
| Net Investments | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 2 | -5 | -2 | 2 | 2 | 3 | 2 | 2 | 4 | 6 |
| Cash Flow From Financing Activityⓘ | -19 | -17 | -29 | -12 | -16 | 18 | -34 | 13 | 9 | -30 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 6 | -2 | 6 | 0 | 0 | 0 | -2 | 0 | 1 | 0 |
| Interest Paid ⓘ | -16 | -17 | -19 | -15 | -14 | -23 | -23 | -19 | -14 | -13 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -1 | -1 | -1 | 0 | 0 | 0 | 0 |
| Others ⓘ | -10 | 2 | -17 | 4 | 0 | 42 | -9 | 33 | 23 | -16 |
| Net Cash Flow ⓘ | -2 | 2 | 11 | 15 | 39 | -31 | 3 | 55 | 25 | -4 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11 | 14.36 | 14.91 | 14.89 | 7.55 | 12.23 | 8.63 | 6.31 | 2.96 | 8.13 |
| ROCE (%) | 15.26 | 17.47 | 20.32 | 19.45 | 21.89 | 18.85 | 16.96 | 11.55 | 8.76 | 13.77 |
| Asset Turnover Ratio | 0.85 | 0.8 | 0.85 | 0.9 | 1.04 | 1.06 | 0.99 | 0.8 | 1.15 | 1.36 |
| PAT to CFO Conversion(x) | 1.58 | 1.18 | 1.67 | 1.42 | 4.46 | -0.71 | 1.89 | 2.81 | 4 | 1.46 | Working Capital Days |
| Receivable Days | 137 | 172 | 184 | 185 | 120 | 85 | 99 | 112 | 83 | 68 |
| Inventory Days | 1 | 1 | 3 | 4 | 8 | 12 | 14 | 14 | 7 | 6 |
| Payable Days | 134 | 413 | 454 | 446 | 265 | 319 | 302 | 370 | 238 | 120 |
R.P.P. Infra Projects was originally incorporated as R.P.P. Constructions (Private) Limited on May 4, 1995 under the Companies Act, 1956. The Company was jointly promoted by Arul P. Sundaram and his brother R. P. Selvasundaram. Subsequent to the deed of Family Arrangement dated July 31, 2005 the family businesses and entities were amicably divided between the two brothers and the Company, came to be owned and controlled by R. P. Selvasundaram. The name of the Company was changed to R.P.P.Infra Projects Private Limited on November 27, 2009. The Company was subsequently converted to a public limited company pursuant to a Special Resolution passed at the Shareholders meeting held on January 21, 2010. It was issued a Fresh Certificate of Incorporation by the Registar of Companies, Coimbatore on March 8, 2010.
Business area of the Company:
R.P.P.Infra Projects is Construction Company primarily engaged in the business of infrastructure development such as Highways, Roads and Bridges. The company also has diversified its civil works expertise into SEZ Development, Water Management Projects, Irrigation and Power Projects.The Company does business in the South Indian region, covering states of Karnataka, Andhra Pradesh, Tamil Nadu and the Union Territory of Pondicherry, Andaman Nicobar Islands. We have recently entered the Srilanka market and currently executing a project in the Railway Sector.The Company, which was was incorporated in the year 1995 and since incorporation has executed over two hundred (200) Civil Construction projects across various segments of construction and infrastructure industry.
The Company's business encompasses following sectors in the civil engineering and construction space spanning nearly fourteen (14) years of operation, namely Construction, Irrigation, SEZ, Water Management, Transportation and Power sector.
Its Services:
The company provide integrated engineering, procurement and construction services for civil construction and infrastructure projects.
Infrastructure Projects: The Company has developed skill sets in providing engineering and construction services for a diverse range of infrastructure projects, including transportation engineering projects /irrigation / water supply and execution of civil works for power thermal/ hydel projects.
The Company has successfully completed and are currently engaged in a number of transportation engineering projects, including roads, highways, bridges, flyovers and pedestrian subways, / irrigation & water supply projects, including the building of dams, tunnels, lift irrigation schemes.
Civil Construction Services: Company’s Promoters began their foray into the construction business by providing engineering and construction services for civil construction projects, especially the construction of buildings. The portfolio of civil construction projects that the company has successfully executed and is currently in various stages of completion includes mass housing projects and townships, industrial structures, an information technology park, corporate offices, hotels, hospitals and universities and educational campuses.
Transportation Engineering and Irrigation & Water Supply Projects: Company’s clients for this services includes Madurai Municipal Corporation Madurai, Tamil Nadu, Larsen & Tamil Nadu Water Supply & Drainage Board Toubro, Chennai,etc.
Power Plant Projects: Company’s clients for this services includes Andhra Pradesh Power General Corporation and Thermax Instrumentation Ltd, Pune, Maharashtra, etc and the order bagged from both of them are of the value worth Rs 14.24 crore and 12 crore respectively.
Its major clients:
• National Thermal Power Corporation, Chennai
• Neyveli Lignite Corporation, Tamil Nadu.
• Chennai Corporation, Chennai
• Driplex Water Engineering, Pune, Maharashtra.
• M/s IVRCL Infrastructures Limited, Hyderbad.
• Larson & Tubro Limited, Chennai, Tamil Nadu.
• Chemplast Sanmar Limited, Chennai
• Bharat Heavy Electricals Limited, Tamil Nadu
• HSCC (India) Limited, Noida, (U.P)
• APGENCO, Hyderabad. Andhra Pradesh.
• ELCOT. Tamil Nadu.
• M/s TNPL Limited
• Raasi Seeds, Chinnasalem
• Siemens, Chennai.
• Lanco Infratech Limited,Hyderbad
• Chennai Petroleum Corporation Limited, Chennai
Major Events in the History of the Company:
1995 - Incorporated as R.P.P. Constructions (Private) Limited
1996 - Pursuant to an Agreement of Acquisition dated may 3, 1996, the Company acquired the business of R.P.P. Builders, a Partnership Firm on a going concern basis.
2009 - The name of the Company was changed to R. P. P. Infra Projects Private Limited.
2010 - The Company was subsequently converted to a public limited company pursuant to a Special Resolution passed at the Shareholders meeting held on January 21, 2010
Awards and Accreditations:
• Excellence of Construction award from 'Kondu Polytechnic College, Perundurai' in the year 2004.
• Excellence of Construction award from the Minister for Madurai Vegetable Market in the year 2009.
• Award for Construction of Anna University, Chennai in the year 2005.
• Excellence of Construction firm from Builders Association of India in the year 2010.
• Excellence of construction award from 'Neyveli Lignite Corporation, Neyveli' in the year 2007.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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