Inditrade Capital Ltd

Inditrade Cap. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Inditrade Capital Ltd

₹ 11.0 -1.96%
23 Dec - close price
inditrade.com BSE: 532745
About

Inditrade Capital Limited is a financial services company offering Microfinance, Agri-Commodity finance and MSME financing among other services. [1]

Key Points

Business Verticals[1]
1. Lending Business:[2]
- Agri-Commodity Finance: Provides loans against non-essential commodities, evaluated through exchange-accredited warehouses, and prices are hedged in exchanges. Loan sizes go up to ₹5 crore.
- Microfinance: Offers micro-business loans ranging from ₹10,000 to ₹60,000, targeting joint liability groups. The focus is on providing small loans to underserved segments of the population, particularly in rural areas.
** - MSME Finance** provides business loans up to ₹50 lakh to Micro, Small, and Medium Enterprises (MSMEs), with quick processing (within 72 hours). Credit underwriting uses alternative methods to traditional scoring.

  1. E-commerce (Boonbox):[3]

  2. Boonbox is a rural e-commerce initiative targeting customers with household incomes of less than ₹1 lakh per annum. The platform offers end-to-end services, from customer acquisition through affiliates, to product delivery, installation, and first-level customer support.

  3. Financial Product Distribution:[4]

  4. The company offers various financial products through third-party partnerships, including business, personal, insurance, health, and gold loans. This allows Inditrade to diversify its product offerings without directly taking on the full risk of the loans.

  5. Technology and Scalability (Scalerator):[5]

  6. The company leverages a digital-first approach for loan disbursement, credit underwriting, and customer engagement. Technology enables faster processing and scaling of its operations, especially in segments like microfinance and MSME lending
Website BSE
  • Market Cap ₹ 25.6 Cr.
  • Current Price ₹ 11.0
  • High / Low ₹ 37.8 / 10.4
  • Stock P/E 32.0
  • Book Value ₹ 49.9
  • Dividend Yield 0.00 %
  • ROCE 8.87 %
  • ROE 1.66 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Stock is trading at 0.22 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding is low: 31.1%
  • Company has a low return on equity of -2.11% over last 3 years.
  • Contingent liabilities of Rs.227 Cr.
  • Promoters have pledged 96.4% of their holding.
  • Earnings include an other income of Rs.5.97 Cr.
  • Debtor days have increased from 62.0 to 114 days.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -42.5%

* 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: Finance Industry: Finance & Investments

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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
44.29 67.35 56.55 44.52 54.20 42.30 34.22 44.50 40.57 41.13 41.06 29.17 21.57
36.57 55.24 42.08 30.66 41.22 31.55 54.52 34.70 35.49 31.50 36.08 23.54 28.86
Operating Profit 7.72 12.11 14.47 13.86 12.98 10.75 -20.30 9.80 5.08 9.63 4.98 5.63 -7.29
OPM % 17.43% 17.98% 25.59% 31.13% 23.95% 25.41% -59.32% 22.02% 12.52% 23.41% 12.13% 19.30% -33.80%
1.75 1.05 -2.06 0.51 1.50 0.47 1.60 0.87 4.74 0.25 4.33 0.99 0.40
Interest 7.20 8.85 9.35 10.36 9.26 8.22 7.93 8.14 6.29 7.01 5.92 5.27 4.08
Depreciation 0.89 1.54 1.42 1.58 1.53 1.54 1.55 1.60 1.58 1.76 0.62 0.78 0.68
Profit before tax 1.38 2.77 1.64 2.43 3.69 1.46 -28.18 0.93 1.95 1.11 2.77 0.57 -11.65
Tax % 21.74% 113.72% -64.02% 55.56% 25.47% 44.52% -11.32% 55.91% 83.08% 19.82% 52.71% 75.44% -80.52%
1.08 -0.39 2.75 1.10 2.77 0.83 -24.97 0.47 0.35 0.91 1.38 0.21 -2.25
EPS in Rs 0.65 0.21 0.75 0.27 1.19 0.45 -7.89 -0.19 -0.15 0.36 0.82 0.12 -0.69
Raw PDF

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
40 30 40 48 48 75 76 132 178 200 175 167 133
40 29 24 27 37 50 42 80 138 156 157 137 120
Operating Profit -0 1 16 21 10 24 34 53 41 44 18 31 13
OPM % -1% 4% 40% 43% 21% 32% 45% 40% 23% 22% 10% 18% 10%
1 -1 1 2 3 1 9 5 4 1 4 10 6
Interest 0 0 0 1 1 9 22 35 29 33 36 28 22
Depreciation 5 4 1 1 1 1 0 2 3 5 6 6 4
Profit before tax -5 -4 16 21 11 15 21 21 12 7 -21 7 -7
Tax % 24% 25% 16% 16% 25% 21% 25% 30% 31% 46% -1% 56%
-6 -5 13 17 8 12 16 14 9 4 -20 3 0
EPS in Rs -2.81 -2.43 4.42 4.59 2.36 3.66 4.92 4.00 2.54 2.18 -5.96 0.84 0.61
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 19%
5 Years: 17%
3 Years: -2%
TTM: -18%
Compounded Profit Growth
10 Years: 11%
5 Years: -28%
3 Years: -31%
TTM: 105%
Stock Price CAGR
10 Years: -7%
5 Years: -22%
3 Years: -30%
1 Year: -61%
Return on Equity
10 Years: 5%
5 Years: 1%
3 Years: -2%
Last Year: 2%

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 23 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 54 48 58 69 75 87 98 104 111 117 96 95 93
0 0 0 0 48 130 210 207 257 385 256 150 127
58 61 60 71 88 225 128 128 114 131 136 133 132
Total Liabilities 135 132 141 163 235 466 459 462 506 656 511 401 376
9 6 4 2 4 4 3 9 9 34 32 30 26
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 30 47 53 5 2 0 0 1 10 11 11 14 14
96 79 83 156 229 461 455 452 487 610 468 357 336
Total Assets 135 132 141 163 235 466 459 462 506 656 511 401 376

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
13 -1 -3 -46 -49 -75 -71 33 -36 -81 104 91
-17 5 6 53 12 -19 -4 -3 -12 -19 -3 -7
-6 -0 -0 -0 48 96 57 -7 49 128 -129 -105
Net Cash Flow -9 4 2 7 10 2 -18 23 1 28 -28 -21

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 74 166 130 96 247 248 109 8 11 16 56 114
Inventory Days
Days Payable
Cash Conversion Cycle 74 166 130 96 247 248 109 8 11 16 56 114
Working Capital Days 207 199 226 506 918 903 393 48 145 57 174 153
ROCE % -4% -1% 14% 17% 7% 10% 12% 14% 10% 8% 3% 9%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
73.63% 73.63% 73.63% 73.63% 73.63% 73.63% 73.63% 73.63% 73.63% 73.63% 31.09% 31.09%
0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19%
25.90% 25.90% 25.90% 25.88% 25.90% 25.89% 25.90% 25.90% 25.91% 25.90% 68.72% 68.72%
0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.00% 0.00%
No. of Shareholders 6,4476,1055,8345,5135,4505,4025,3264,9055,0455,1056,0846,640

* 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.

Click on the line-items to see the names of individual entities.

Documents

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