National Standard (India) Ltd

National Standard (India) Ltd

₹ 4,170 -1.23%
22 Nov - close price
About

National Standard (India) Limited, incorporated in 1962, is presently engaged in the business of Real Estate Development. The Co. is a part of the Lodha Group Since May 2011. It is a subsidiary of Ananthnath Constructions and Farms Private Limited. [1] [2]

Key Points

Revenue Break-up
Revenue from operations:
Income From Property Development - 39% vs (96% in FY 19)
Sale of Building Materials - 1 %
Other Operating Revenue - 6% vs (4% in FY 19)
Other Income was 64% of total revenue in FY 20 and 45% of total revenue in FY 19 constituting:
Interest from Loans - 98% vs (92% in FY 19)
Others - 2% vs (8% in FY 19) [1][2]
The loans and advances have been given to the holding co. [3]

  • Market Cap 8,340 Cr.
  • Current Price 4,170
  • High / Low 6,974 / 4,010
  • Stock P/E 503
  • Book Value 133
  • Dividend Yield 0.00 %
  • ROCE 7.92 %
  • ROE 5.85 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 25.4% CAGR over last 5 years
  • Debtor days have improved from 92.9 to 18.8 days.

Cons

  • Stock is trading at 31.3 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 9.11% over past five years.
  • Company has a low return on equity of 6.65% over last 3 years.
  • Earnings include an other income of Rs.17.2 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Construction Industry: Construction

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
6.86 0.03 18.21 1.05 1.07 5.80 9.43 0.45 0.52 14.82 5.59 0.03 3.80
2.33 0.63 7.23 1.26 2.19 3.75 8.61 0.75 0.83 12.24 4.12 0.85 1.76
Operating Profit 4.53 -0.60 10.98 -0.21 -1.12 2.05 0.82 -0.30 -0.31 2.58 1.47 -0.82 2.04
OPM % 66.03% -2,000.00% 60.30% -20.00% -104.67% 35.34% 8.70% -66.67% -59.62% 17.41% 26.30% -2,733.33% 53.68%
9.15 4.40 3.06 2.49 2.42 2.75 2.91 4.13 4.14 4.00 4.25 4.61 4.37
Interest 0.05 0.03 0.00 0.02 0.00 0.00 0.04 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.04 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 13.59 3.74 14.04 2.26 1.30 4.80 3.69 3.83 3.83 6.58 5.72 3.79 6.41
Tax % 23.84% 23.26% 26.78% 30.53% 40.00% 32.29% 26.83% 26.89% 26.63% 25.23% 26.05% 30.34% 24.96%
10.35 2.86 10.27 1.56 0.77 3.24 2.70 2.80 2.80 4.92 4.22 2.64 4.80
EPS in Rs 5.18 1.43 5.14 0.78 0.38 1.62 1.35 1.40 1.40 2.46 2.11 1.32 2.40
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
31 111 148 184 111 35 14 5 17 25 17 21 24
20 65 83 95 52 25 19 6 15 11 16 18 19
Operating Profit 12 46 65 89 59 10 -5 -1 2 15 1 3 5
OPM % 37% 41% 44% 48% 53% 29% -36% -15% 10% 58% 9% 16% 22%
15 17 14 21 23 12 11 9 15 19 11 17 17
Interest 19 16 13 19 11 5 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 7 47 66 91 72 17 6 8 16 34 12 20 22
Tax % 18% 33% 36% 33% 42% 35% 21% 21% 30% 27% 31% 26%
6 31 42 61 41 11 5 7 11 25 8 15 17
EPS in Rs 2.90 15.62 21.19 30.38 20.71 5.56 2.38 3.26 5.52 12.30 4.12 7.37 8.29
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -15%
5 Years: 9%
3 Years: 8%
TTM: 50%
Compounded Profit Growth
10 Years: -7%
5 Years: 25%
3 Years: 23%
TTM: 44%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -35%
1 Year: -8%
Return on Equity
10 Years: 12%
5 Years: 6%
3 Years: 7%
Last Year: 6%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 20 20 20 20 20 20 20 20 20 20 20 20 20
Reserves -18 13 56 117 158 169 174 180 192 216 224 239 247
115 95 150 114 79 0 0 0 0 0 0 0 0
58 67 97 110 39 16 12 14 16 10 9 8 4
Total Liabilities 175 195 322 361 296 205 206 214 227 246 253 268 271
1 1 0 0 0 0 4 5 3 0 0 0 0
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
175 194 322 361 296 205 202 209 224 246 253 268 271
Total Assets 175 195 322 361 296 205 206 214 227 246 253 268 271

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
13 50 54 78 -12 -20 7 2 1 3 13 -1
-10 -2 -104 -20 51 106 -9 -1 -3 -2 -14 1
-2 -37 42 -51 -48 -86 -0 -0 0 0 0 0
Net Cash Flow 1 10 -8 7 -8 1 -2 2 -2 1 -1 -0

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 90 25 69 31 35 74 207 336 76 237 23 19
Inventory Days 1,696
Days Payable 142
Cash Conversion Cycle 1,644 25 69 31 35 74 207 336 76 237 23 19
Working Capital Days 1,267 384 550 485 833 1,891 4,878 12,620 4,201 2,888 5,002 4,296
ROCE % 24% 51% 45% 46% 32% 10% 3% 4% 6% 15% 5% 8%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94%
26.06% 26.06% 26.06% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05%
No. of Shareholders 2,2632,5382,6972,6962,6772,7122,7182,6802,6252,6002,5762,520

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