Valiant Communications Ltd

₹ 517 1.76%

24 Dec 9:04 a.m.

About

Incorporated in 1993, Valiant Communications Ltd manufactures communication equipment, primarily for power utilities / other utilities and provides allied services^[1]

Key Points

Business Overseas:^[1]
VCL is an ISO 9001:2015, ISO 10001:2018, ISO 14001:2015, ISO 27001:2013 and ISO 45001:2018 certified manufacturer of communication, transmission, protection, synchronization and cyber security equipment and solutions with installations in 110+ countries

Website BSE

Market Cap ₹ 394 Cr.
Current Price ₹ 517
High / Low ₹ 732 / 292
Stock P/E 40.3
Book Value ₹ 75.9
Dividend Yield 0.00 %
ROCE 18.9 %
ROE 14.4 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 70.0% CAGR over last 5 years

Cons

Stock is trading at 6.69 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -0.88%
Company has a low return on equity of 3.77% over last 3 years.
Debtor days have increased from 70.2 to 85.6 days.

* 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: Telecomm Equipment & Infra Services Industry: Telecommunications - Equipment

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	3.80	3.32	3.48	5.24	7.87	9.03	9.36	9.66	11.10	12.27	13.31	13.66	12.72
	4.27	4.68	4.11	5.16	6.85	7.53	7.67	8.02	8.85	9.80	9.39	9.41	8.88
Operating Profit	-0.47	-1.36	-0.63	0.08	1.02	1.50	1.69	1.64	2.25	2.47	3.92	4.25	3.84
OPM %	-12.37%	-40.96%	-18.10%	1.53%	12.96%	16.61%	18.06%	16.98%	20.27%	20.13%	29.45%	31.11%	30.19%
	0.10	0.07	0.96	0.02	0.04	0.03	0.03	0.13	0.18	0.06	0.07	0.56	0.56
Interest	0.01	0.01	0.01	0.01	0.01	0.01	0.03	0.04	0.04	0.04	0.04	0.05	0.04
Depreciation	0.49	0.51	0.59	0.50	0.52	0.48	0.61	0.54	0.55	0.56	0.62	0.61	0.66
Profit before tax	-0.87	-1.81	-0.27	-0.41	0.53	1.04	1.08	1.19	1.84	1.93	3.33	4.15	3.70
Tax %	-24.14%	-19.89%	-48.15%	-24.39%	30.19%	28.85%	18.52%	25.21%	21.74%	29.02%	25.23%	24.82%	24.32%
	-0.66	-1.45	-0.13	-0.31	0.37	0.74	0.88	0.89	1.43	1.38	2.49	3.12	2.80
EPS in Rs	-0.91	-2.01	-0.18	-0.43	0.51	1.02	1.22	1.23	1.98	1.91	3.26	4.09	3.67
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	7.86	11.24	11.90	13.72	17.60	23.41	19.14	19.68	21.68	13.20	31.50	46.33	51.96
	8.24	11.27	11.85	12.67	15.78	20.15	17.09	18.59	20.25	16.30	27.18	35.98	37.48
Operating Profit	-0.38	-0.03	0.05	1.05	1.82	3.26	2.05	1.09	1.43	-3.10	4.32	10.35	14.48
OPM %	-4.83%	-0.27%	0.42%	7.65%	10.34%	13.93%	10.71%	5.54%	6.60%	-23.48%	13.71%	22.34%	27.87%
	1.06	0.65	1.21	0.85	0.83	0.40	0.34	0.76	2.55	1.63	0.13	0.44	1.25
Interest	0.04	0.03	0.04	0.04	0.05	0.07	0.07	0.07	0.07	0.10	0.09	0.22	0.17
Depreciation	0.92	1.09	1.32	1.53	1.72	1.65	1.74	1.87	1.80	2.04	2.12	2.26	2.45
Profit before tax	-0.28	-0.50	-0.10	0.33	0.88	1.94	0.58	-0.09	2.11	-3.61	2.24	8.31	13.11
Tax %	-32.14%	-20.00%	-160.00%	30.30%	30.68%	33.51%	25.86%	-88.89%	23.70%	-27.15%	25.00%	25.27%
	-0.19	-0.41	0.06	0.23	0.61	1.30	0.43	0.00	1.60	-2.63	1.68	6.21	9.79
EPS in Rs	-0.26	-0.57	0.08	0.32	0.84	1.80	0.60	0.00	2.21	-3.64	2.33	8.14	12.93
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	15%
5 Years:	19%
3 Years:	29%
TTM:	33%

Compounded Profit Growth
10 Years:	33%
5 Years:	70%
3 Years:	224%
TTM:	148%

Stock Price CAGR
10 Years:	36%
5 Years:	92%
3 Years:	102%
1 Year:	58%

Return on Equity
10 Years:	2%
5 Years:	2%
3 Years:	4%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	7.22	7.22	7.22	7.22	7.22	7.22	7.22	7.22	7.22	7.22	7.22	7.63	7.63
Reserves	22.21	22.32	22.04	22.34	22.57	24.10	24.39	24.49	26.90	23.74	25.72	44.21	50.27
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.13	0.07	0.12	1.82	1.85	2.35
	1.85	1.42	1.59	2.42	2.35	3.78	2.83	3.14	2.71	3.38	5.26	4.72	4.36
Total Liabilities	31.28	30.96	30.85	31.98	32.14	35.10	34.44	34.98	36.90	34.46	40.02	58.41	64.61
	5.77	6.21	6.46	7.01	6.60	6.95	6.62	6.57	6.22	7.04	9.05	9.62	10.78
CWIP	0.00	0.00	0.00	0.00	0.13	0.17	0.20	0.58	0.70	0.40	0.00	0.00	0.00
Investments	1.11	1.20	0.71	0.73	0.63	0.00	0.00	2.35	4.15	0.42	0.97	1.59	2.22
	24.40	23.55	23.68	24.24	24.78	27.98	27.62	25.48	25.83	26.60	30.00	47.20	51.61
Total Assets	31.28	30.96	30.85	31.98	32.14	35.10	34.44	34.98	36.90	34.46	40.02	58.41	64.61

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-1.21	-0.37	1.70	-1.29	-2.98	4.09	1.45	2.43	1.51	-4.16	3.08	3.08
	-0.32	-0.59	-0.39	-0.91	1.16	-3.64	0.90	-5.06	-0.35	3.97	-4.30	-3.14
	-0.38	0.00	0.00	0.00	0.00	0.00	0.05	0.00	0.00	0.00	1.65	12.55
Net Cash Flow	-1.91	-0.96	1.31	-2.20	-1.82	0.45	2.40	-2.64	1.17	-0.19	0.42	12.48

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	76.16	93.52	71.77	131.95	212.57	187.41	171.06	143.74	128.96	82.68	42.53	85.56
Inventory Days	942.92	581.07	485.52	504.91	340.70	189.62	343.22	344.77	286.64	837.14	413.78	246.39
Days Payable	99.30	42.73	53.69	102.67	55.86	76.29	64.90	75.67	30.75	102.30	74.75	21.21
Cash Conversion Cycle	919.77	631.87	503.60	534.19	497.41	300.74	449.38	412.83	384.86	817.52	381.56	310.73
Working Capital Days	534.50	398.77	320.22	340.79	341.15	237.30	295.39	261.88	248.83	413.39	188.29	171.04
ROCE %	-0.80%	-1.59%	-0.64%	1.25%	3.13%	6.57%	2.06%	-0.85%	0.94%	-14.14%	7.01%	18.93%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	46.38%	46.38%	46.38%	46.37%	46.37%	46.37%	46.37%	45.52%	45.52%	43.11%	42.71%	41.83%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.16%	0.16%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.44%	0.98%	0.27%	0.20%	0.20%
	53.62%	53.62%	53.62%	53.61%	53.62%	53.60%	53.61%	54.03%	53.49%	56.46%	56.92%	57.80%
No. of Shareholders	3,414	3,586	3,522	3,449	3,414	3,434	3,475	3,855	4,214	5,045	5,912	6,298

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	42.14%	42.14%	43.19%	46.24%	46.29%	46.38%	46.37%	43.11%	41.83%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.16%
	0.05%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.20%
	57.81%	57.84%	56.81%	53.76%	53.71%	53.62%	53.60%	56.46%	57.80%
No. of Shareholders	4,821	4,216	3,700	3,562	3,320	3,586	3,434	5,045	6,298

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Valiant Communications Ltd

Valiant Communications Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports