Aplab Ltd

₹ 88.2 -0.90%

12 Dec 4:00 p.m.

About

Incorporated in 1962, APLAB Limited is engaged in the manufacturing & marketing of professional electronic equipment business.

Key Points

Product & Services:^[1]
a) Test and Measurement Instruments (T&M)
b) Power Conversion & Controls (PCC)
c) Power Supply Equipment (PE) and Ups System
d) Banking and Retail Automation (BA)
e) Cable Fault Locating Instruments (CFS)
f) High Power DC System
g) Design & Manufacturing Services
h) Power Energy Saver
i) Laboratory Instruments
j) Recently, the company has also diversified into Solar Power Equipment business.

Website BSE

Market Cap ₹ 112 Cr.
Current Price ₹ 88.2
High / Low ₹ 127 / 64.7
Stock P/E 38.6
Book Value ₹ 10.6
Dividend Yield 0.00 %
ROCE 14.7 %
ROE %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Promoter holding has increased by 4.32% over last quarter.

Cons

Stock is trading at 8.32 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -1.61% over past five years.
Tax rate seems low
Earnings include an other income of Rs.1.96 Cr.
Company has high debtors of 169 days.
Working capital days have increased from 134 days to 196 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: Electronics Industry: Electronics - Components

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	10.95	14.85	16.46	10.89	10.56	11.54	18.49	9.11	10.88	11.93	17.61	9.93	13.86
	12.27	12.95	10.97	12.12	11.49	10.54	11.27	8.34	9.34	11.43	15.88	9.10	13.26
Operating Profit	-1.32	1.90	5.49	-1.23	-0.93	1.00	7.22	0.77	1.54	0.50	1.73	0.83	0.60
OPM %	-12.05%	12.79%	33.35%	-11.29%	-8.81%	8.67%	39.05%	8.45%	14.15%	4.19%	9.82%	8.36%	4.33%
	0.09	0.11	-1.34	-1.44	0.07	-0.41	0.06	0.06	0.06	0.05	-0.03	0.06	1.88
Interest	1.29	1.13	0.70	0.67	0.66	0.75	0.93	0.67	1.35	0.33	1.09	0.67	0.82
Depreciation	0.10	0.09	0.08	0.12	0.12	0.12	0.08	0.14	0.11	0.08	0.12	0.12	0.13
Profit before tax	-2.62	0.79	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.14	0.14	0.49	0.10	1.53
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-2.62	0.78	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.14	0.14	0.49	0.10	1.53
EPS in Rs	-2.62	0.78	3.37	-3.46	-1.64	-0.28	6.27	0.02	0.13	0.13	0.44	0.09	1.38
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	71.53	94.86	74.18	70.89	72.04	61.03	53.19	51.47	53.02	51.36	51.48	49.05	53.33
	66.40	82.20	76.93	76.44	74.36	65.02	55.68	47.45	47.75	44.42	45.27	44.51	49.67
Operating Profit	5.13	12.66	-2.75	-5.55	-2.32	-3.99	-2.49	4.02	5.27	6.94	6.21	4.54	3.66
OPM %	7.17%	13.35%	-3.71%	-7.83%	-3.22%	-6.54%	-4.68%	7.81%	9.94%	13.51%	12.06%	9.26%	6.86%
	2.27	0.93	0.71	0.82	1.55	0.38	18.50	3.42	1.32	-1.08	-1.72	0.15	1.96
Interest	8.96	10.22	10.63	11.24	11.21	10.82	8.06	6.21	6.60	5.31	3.84	3.45	2.91
Depreciation	2.14	2.78	1.76	1.62	1.56	1.44	1.29	1.02	0.38	0.38	0.45	0.44	0.45
Profit before tax	-3.70	0.59	-14.43	-17.59	-13.54	-15.87	6.66	0.21	-0.39	0.17	0.20	0.80	2.26
Tax %	-0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	18.77%	0.00%	0.00%	0.00%	0.00%	0.00%
	-3.67	0.59	-14.43	-17.59	-13.54	-15.87	5.41	0.21	-0.39	0.17	0.20	0.80	2.26
EPS in Rs	-3.67	0.59	-14.43	-17.59	-13.54	-15.87	5.41	0.21	-0.39	0.17	0.20	0.72	2.04
Dividend Payout %	0.00%	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:	-6%
5 Years:	-2%
3 Years:	-3%
TTM:	7%

Compounded Profit Growth
10 Years:	8%
5 Years:	16%
3 Years:	78%
TTM:	-58%

Stock Price CAGR
10 Years:	14%
5 Years:	86%
3 Years:	67%
1 Year:	9%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	10.00	10.00	11.09	13.96
Reserves	21.26	21.84	7.02	-10.57	-23.03	-37.54	-31.64	-31.38	-31.08	-30.76	-29.81	-3.83	-2.20
	70.34	74.85	72.78	71.71	66.30	70.28	70.20	71.36	71.71	47.62	50.24	28.84	26.60
	35.03	48.83	42.05	65.49	70.61	68.55	59.67	48.54	43.90	39.54	45.08	35.24	33.09
Total Liabilities	131.63	150.52	126.85	131.63	118.88	106.29	103.23	93.52	89.53	66.40	75.51	71.34	71.45
	59.13	57.68	55.04	53.33	51.61	16.78	4.26	3.70	3.47	6.54	7.37	7.03	6.83
CWIP	1.64	0.00	0.00	0.00	0.35	0.82	2.35	3.59	3.88	1.08	0.00	0.49	0.67
Investments	2.26	2.26	0.07	0.07	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
	68.60	90.58	71.74	78.23	66.90	88.67	96.60	86.21	82.16	58.76	68.12	63.80	63.93
Total Assets	131.63	150.52	126.85	131.63	118.88	106.29	103.23	93.52	89.53	66.40	75.51	71.34	71.45

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-12.31	-9.37	-3.64	-5.70	4.45	-27.50	2.32	-23.38	-1.02	18.73	-2.89	-3.38
	-3.15	0.20	2.68	0.07	-0.42	-1.57	20.69	31.67	-0.25	-0.38	0.02	0.18
	16.00	6.53	-1.67	12.05	-7.16	30.06	-23.37	-8.33	0.35	-19.10	2.62	3.46
Net Cash Flow	0.54	-2.64	-2.63	6.43	-3.13	0.99	-0.36	-0.03	-0.92	-0.75	-0.25	0.25

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	67.76	109.66	90.00	102.77	88.92	36.42	131.89	134.24	104.71	124.51	212.92	169.14
Inventory Days	484.26	288.61	275.19	152.39	102.72	168.84	184.91	301.69	243.23	300.66	544.09	663.21
Days Payable	154.91	198.46	103.01	192.21	18.98	156.27	152.70	164.50	167.18	129.08	194.05	190.71
Cash Conversion Cycle	397.12	199.81	262.18	62.95	172.66	48.99	164.11	271.42	180.76	296.09	562.96	641.64
Working Capital Days	158.59	104.54	136.44	-56.89	-126.67	165.25	205.04	177.07	173.62	44.84	161.23	196.38
ROCE %	5.47%	11.00%	-4.08%	-8.40%	-4.91%	-11.74%	-8.51%	7.41%	13.71%	18.98%	21.64%	14.67%

Shareholding Pattern

Numbers in percentages

1 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Nov 2024
	59.29%	59.29%	59.29%	59.29%	59.29%	63.28%	63.28%	63.28%	63.28%	63.28%	63.28%	67.61%
	0.00%	0.00%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	40.69%	40.69%	39.25%	40.70%	40.69%	36.70%	36.69%	36.71%	36.69%	36.69%	36.70%	32.38%
No. of Shareholders	4,517	4,456	4,549	4,745	4,536	4,381	4,536	4,560	4,875	5,191	5,121	5,235

	Dec 2011	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Nov 2024
	59.29%	58.96%	58.97%	58.97%	58.54%	49.06%	59.29%	59.29%	63.28%	67.61%
	0.02%	0.05%	0.11%	0.11%	0.11%	0.05%	0.02%	0.02%	0.02%	0.02%
	40.70%	41.00%	40.92%	40.92%	41.35%	50.90%	40.69%	40.69%	36.69%	32.38%
No. of Shareholders	4,745	4,083	3,937	3,875	3,831	3,902	4,517	4,536	4,875	5,235

* 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.

Aplab Ltd

Aplab Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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