BSE: 537259 | NSE: SUYOG | Telecom-Infrastructure | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Suyog Telematics Ltd is a good quality company.
The key valuation ratios of Suyog Telematics 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 Semi Strong which suggest that the price of Suyog Telematics 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 % ⓘ | 24.9% | 42.8% | 33.2% | 26.3% | 34.4% | 30.5% | 29.8% | 33% | 26.2% | 25.5% | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 21.7 | 43.8 | 60.5 | 84.6 | 105 | 122 | 132 | 126 | 144 | 167 | 181 |
| Sales YoY Gr. | - | 101.5% | 38.4% | 39.8% | 24.5% | 16.1% | 7.7% | -4.1% | 13.7% | 16% | - |
| Adj EPS ⓘ | 3.3 | 11.9 | 16.7 | 18.2 | 28.2 | 32.5 | 24 | 39.5 | 44.2 | 59.4 | 66.6 |
| YoY Gr. | - | 257.8% | 40.5% | 9.1% | 55% | 15.4% | -26.1% | 64.3% | 11.9% | 34.4% | - |
| BVPS (₹) ⓘ | 22.6 | 34.5 | 49.1 | 67.2 | 94.9 | 124.5 | 128.9 | 168.7 | 212 | 279.9 | 328.9 |
| Adj Net Profit ⓘ | 3.4 | 12.1 | 17 | 18.5 | 28.6 | 33 | 24.4 | 41.4 | 46.3 | 63.3 | 72 |
| Cash Flow from Ops. ⓘ | 3.9 | 1.8 | -0.8 | 32.7 | 39.8 | 58.7 | 59.7 | 46.6 | 67 | 72 | - |
| Debt/CF from Ops. ⓘ | 3.3 | 14.8 | -76.7 | 1.9 | 1.5 | 0.7 | 0.7 | 1.2 | 1.4 | 1.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 25.4% | 9.6% | 8.1% | 16% | ||||
| Adj EPS ⓘ | 37.8% | 16.1% | 35.2% | 34.4% | ||||
| BVPSⓘ | 32.2% | 24.1% | 29.5% | 32% | ||||
| Share Price | 52.1% | 33.2% | 60.8% | 79.8% | ||||
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 % ⓘ | 20.1 | 41.6 | 39.1 | 30.5 | 34.3 | 29.4 | 18 | 24.9 | 21.9 | 23.8 | 21.9 |
| Op. Profit Mgn % ⓘ | 39.5 | 53.9 | 47.6 | 39.7 | 49.6 | 45.5 | 49.8 | 68.6 | 64.6 | 70.4 | 71.9 |
| Net Profit Mgn % ⓘ | 15.5 | 27.6 | 28 | 21.8 | 27.2 | 27 | 18.5 | 32.8 | 32.2 | 38 | 39.8 |
| Debt to Equity ⓘ | 0.6 | 0.8 | 1.2 | 0.9 | 0.6 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 | 0.3 |
| Working Cap Days ⓘ | 275 | 228 | 288 | 269 | 264 | 278 | 267 | 265 | 283 | 282 | 99 |
| Cash Conv. Cycle ⓘ | 21 | 20 | 37 | 11 | -47 | -98 | -96 | -67 | -55 | -38 | 38 |
Net Profit is growing at healthy rate in last 3 years 35.20%
Sales growth is good in last 4 quarters at 16.29%
Return on Equity has declined versus last 3 years average to 21.90%
Sales growth has been subdued in last 3 years 8.13%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 66.6 | - |
| TTM Sales (₹ Cr.) | 181 | - |
| BVPS (₹.) ⓘ | 328.9 | - |
| Reserves (₹ Cr.) ⓘ | 344 | - |
| P/BV ⓘ | 5.12 | - |
| PE ⓘ | 25.27 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 836.00 / 1943.60 |
| All Time Low / High (₹) | 20.42 / 1943.60 |
| Market Cap (₹ Cr.) | 1,819 |
| Equity (₹ Cr.) | 10.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 46.8 |
| Pledged * | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 | 7.93 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 22 | 44 | 61 | 85 | 105 | 122 | 132 | 126 | 144 | 167 |
| Operating Expenses ⓘ | 13 | 20 | 32 | 51 | 53 | 67 | 66 | 40 | 51 | 49 |
| Manufacturing Costs | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Material Costs | 1 | 17 | 27 | 39 | 45 | 55 | 40 | 18 | 20 | 17 |
| Employee Cost | 1 | 2 | 2 | 3 | 4 | 5 | 19 | 10 | 12 | 15 |
| Other Costs ⓘ | 1 | 1 | 3 | 9 | 4 | 6 | 7 | 11 | 18 | 16 |
| Operating Profit ⓘ | 9 | 24 | 29 | 34 | 52 | 56 | 66 | 87 | 93 | 117 |
| Operating Profit Margin (%) | 39.5% | 53.9% | 47.6% | 39.7% | 49.6% | 45.5% | 49.8% | 68.6% | 64.6% | 70.4% |
| Other Income ⓘ | 0 | 0 | 3 | 2 | 2 | 1 | 3 | 6 | 9 | 8 |
| Interest ⓘ | 2 | 3 | 5 | 8 | 7 | 6 | 10 | 14 | 16 | 19 |
| Depreciation ⓘ | 2 | 3 | 3 | 4 | 6 | 7 | 16 | 22 | 26 | 34 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 18 | 24 | 24 | 42 | 43 | 42 | 57 | 59 | 71 |
| Tax ⓘ | 2 | 6 | 7 | 5 | 13 | 10 | 18 | 15 | 13 | 8 |
| Profit After Tax | 3 | 12 | 17 | 18 | 29 | 33 | 24 | 41 | 46 | 63 |
| PAT Margin (%) | 15.5% | 27.6% | 28.0% | 21.8% | 27.2% | 27.0% | 18.5% | 32.8% | 32.2% | 38.0% |
| Adjusted EPS (₹) | 3.3 | 11.9 | 16.7 | 18.2 | 28.2 | 32.5 | 24.0 | 39.5 | 44.2 | 59.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 6% | 9% | 2% | 0% | 3% | 1% | 2% |
| 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 | 23 | 35 | 52 | 70 | 97 | 127 | 131 | 177 | 222 | 298 |
| Share Capital ⓘ | 8 | 8 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 |
| Reserves ⓘ | 15 | 27 | 42 | 60 | 87 | 117 | 121 | 166 | 212 | 288 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 11 | 26 | 54 | 49 | 46 | 31 | 30 | 46 | 75 | 60 |
| Long Term Debt | 8 | 23 | 54 | 49 | 46 | 31 | 30 | 46 | 75 | 55 |
| Short Term Debt | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Trade Payables | 2 | 3 | 4 | 9 | 23 | 42 | 33 | 13 | 41 | 16 |
| Others Liabilities ⓘ | 8 | 20 | 28 | 32 | 38 | 45 | 120 | 126 | 141 | 126 |
| Total Liabilities ⓘ | 44 | 84 | 138 | 160 | 204 | 245 | 314 | 361 | 480 | 500 |
Fixed Assets | ||||||||||
| Gross Block | 24 | 45 | 77 | 99 | 119 | 151 | 238 | 305 | 416 | 475 |
| Accumulated Depreciation | 3 | 6 | 9 | 13 | 18 | 26 | 41 | 49 | 76 | 110 |
| Net Fixed Assetsⓘ | 20 | 39 | 68 | 86 | 101 | 126 | 196 | 256 | 340 | 366 |
| CWIP ⓘ | 2 | 4 | 5 | 5 | 11 | 14 | 19 | 12 | 3 | 7 |
| Investmentsⓘ | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 |
| Inventories | 1 | 0 | 1 | 2 | 3 | 2 | 3 | 5 | 5 | 7 |
| Trade Receivables | 3 | 11 | 13 | 12 | 16 | 27 | 27 | 27 | 41 | 46 |
| Cash Equivalents | 0 | 4 | 1 | 2 | 2 | 6 | 3 | 3 | 2 | 4 |
| Others Assetsⓘ | 16 | 24 | 48 | 52 | 71 | 70 | 66 | 57 | 88 | 70 |
| Total Assets ⓘ | 44 | 84 | 138 | 160 | 204 | 245 | 314 | 361 | 480 | 500 |
| 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 ⓘ | 4 | 2 | -1 | 33 | 40 | 59 | 60 | 47 | 67 | 72 |
| PBT ⓘ | 5 | 18 | 24 | 24 | 42 | 43 | 42 | 57 | 59 | 71 |
| Adjustment ⓘ | 3 | 5 | 3 | 9 | 13 | 7 | 29 | 21 | 26 | 33 |
| Changes in Working Capital ⓘ | -3 | -21 | -25 | 5 | -9 | 15 | -5 | -21 | -7 | -19 |
| Tax Paid ⓘ | -1 | -1 | -3 | -5 | -6 | -7 | -7 | -11 | -11 | -13 |
| Cash Flow From Investing Activity ⓘ | -11 | -11 | -27 | -21 | -27 | -36 | -45 | -74 | -108 | -63 |
| Capex | -11 | -11 | -33 | -22 | -27 | -35 | -45 | -75 | -101 | -64 |
| Net Investments | 0 | 0 | 3 | -1 | 0 | -2 | 0 | 1 | -8 | 0 |
| Others ⓘ | 0 | 0 | 3 | 2 | 0 | 1 | 1 | 0 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | 7 | 13 | 28 | -12 | -12 | -18 | -18 | 27 | 40 | -7 |
| Net Proceeds from Shares ⓘ | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -3 | -3 | -7 | -7 | -1 | -2 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | -1 | -3 | -1 | 0 | -1 | -1 |
| Others ⓘ | 1 | 15 | 31 | -5 | -4 | -14 | -16 | 27 | 41 | -6 |
| Net Cash Flow ⓘ | 0 | 4 | 0 | 0 | 1 | 4 | -3 | 0 | -1 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 20.08 | 41.56 | 39.93 | 31.29 | 34.79 | 29.64 | 18.97 | 26.9 | 23.2 | 24.32 |
| ROCE (%) | 24.88 | 42.79 | 33.23 | 26.33 | 34.41 | 30.54 | 29.78 | 32.97 | 26.15 | 25.48 |
| Asset Turnover Ratio | 0.62 | 0.69 | 0.55 | 0.57 | 0.58 | 0.54 | 0.47 | 0.37 | 0.34 | 0.34 |
| PAT to CFO Conversion(x) | 1.33 | 0.17 | -0.06 | 1.83 | 1.38 | 1.79 | 2.5 | 1.15 | 1.46 | 1.14 | Working Capital Days |
| Receivable Days | 43 | 57 | 72 | 53 | 49 | 64 | 74 | 77 | 85 | 95 |
| Inventory Days | 12 | 5 | 4 | 6 | 7 | 7 | 7 | 11 | 13 | 14 |
| Payable Days | 552 | 54 | 48 | 59 | 130 | 216 | 340 | 453 | 484 | 600 |
Suyog Telematics is a growing passive telecommunication infrastructure provider in India, engaged primarily in the business of installing and commissioning of Poles, Towers and Optical Fibre Cable (OFC) Systems in India. The company’s business is to build, own and operate telecommunication Poles, Towers (particularly Roof-top towers), OFC systems and related assets and to provide these passive infrastructure assets on a shared basis to wireless and other communications service providers. These customers use the space on the company’s telecommunication towers to install active communication-related equipment to operate their wireless communications networks. The company also offers services to Telecom Operators in installing Telecom Infrastructure on job work basis.
The company is registered as Infrastructure Provider Category-I (IP-I) with DoT (Department of Telecommunications). With its high quality, cost-effective and time bound services, the company has also gained a good presence in the Telecom Industry as a TSP Vendor. The company has provided a number of Poles and Infrastructure on lease over various areas in and around Maharashtra and Uttarakhand and has also installed BTS equipments on poles for most of the leading Mobile Service Providers in India, including, Bharti Airtel, Vodafone Essar, Idea Cellular and TTML.
Having been in the business of civil construction for over 2 decades, the company’s group has completed installation of more than 200 Poles for various TSPs and about 10,000 Roof-Top Towers for BSNL on job work basis. As on September 30, 2013, the company’s fully completed owned portfolio of passive infrastructure consists of 359 Poles in and around Mumbai and 79 towers in and around Maharashtra and Uttarakhand. In addition, the company has its own optical fiber cable network of about 150 km in and around Mumbai.
Services:
Fiber Optic Network Solution: The company is a prominent Service Provider of Fiber Optic Network Solution. It has set up its own optical fiber cable network of about 150 km from Thane Ghodbunder Road to Kalamboli. The main benefits of OFC are exceptionally low loss, allowing longer distances between amplifiers and repeaters, and inherently high data-carrying capacity. For example, several thousand electrical links can replace a single high bandwidth fiber cable. In addition, OFC does not require line of sight, a common constraint for microwave networks.
Tower Erection Service: The company is a well-known name in the domain engaged in providing Tower Erection Service. It is in the business of installing Roof Top Towers and providing the same to telecom service providers on a sharing basis. It has a tenancy of one per tower. These telecommunication towers have been used for both CDMA and GSM needs. The company’s Roof Top Towers are normally 15 meters in height and are considered structurally stable assuming a wind speed of 180 km per hour.
Pole Erection Service: Since it is not possible to erect regular network towers, etc. atop flyovers/bridges, the company has spearheaded the concept of Poles for telecom infrastructure. The company is engaged in taking up Pole Erection Service for its clients. The company has provided a number of Poles and Infrastructure on lease over several MSRDC Flyovers, Bandra-Worli Sea Link Project, MMRDA Flyovers as well as Skywalks in and around Mumbai, and has also installed BTS equipments on poles for the telecom service providers.
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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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