Bartronics India Ltd

₹ 19.0 2.15%

22 Nov 3:21 p.m.

bartronicsindia.com BSE: 532694 NSE: ASMS

About

Incorporated in 1990, Bartronics India Ltd provides Automatic Identification & Data Capture (AIDC) solutions^[1]

Key Points

Business Overview:^[1]
Company started with providing solutions based on barcode and is a leading player in the country to provide solutions using umbrella of AIDC technologies. It has a manufacturing facility with capacity to manufacture 80mn smart cards per annum. Using these 2 synergies, the company ventured into Financial Inclusion projects driven by Reserve Bank of India known as Jan Dhan Yojana

Website BSE NSE

Market Cap ₹ 578 Cr.
Current Price ₹ 19.0
High / Low ₹ 28.8 / 15.6
Stock P/E 215
Book Value ₹ 0.90
Dividend Yield 0.00 %
ROCE 3.78 %
ROE 8.17 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.

Cons

Stock is trading at 21.0 times its book value
The company has delivered a poor sales growth of -6.47% over past five years.
Contingent liabilities of Rs.300 Cr.
Earnings include an other income of Rs.2.17 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: IT - Software Industry: Computers - Software - Medium / Small

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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
	16.22	16.29	18.23	15.37	13.73	11.47	12.05	12.07	12.43	11.92	12.41	13.57	8.85
	14.72	14.78	16.41	14.04	12.77	11.65	12.19	11.41	12.82	12.10	12.56	13.34	8.91
Operating Profit	1.50	1.51	1.82	1.33	0.96	-0.18	-0.14	0.66	-0.39	-0.18	-0.15	0.23	-0.06
OPM %	9.25%	9.27%	9.98%	8.65%	6.99%	-1.57%	-1.16%	5.47%	-3.14%	-1.51%	-1.21%	1.69%	-0.68%
	0.01	0.05	0.04	0.00	0.13	0.07	157.90	0.04	-0.29	0.25	0.75	0.85	0.32
Interest	13.10	13.10	13.10	13.10	13.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	1.07	1.07	1.07	1.07	1.05	1.05	1.01	0.19	0.14	0.07	0.04	0.01	0.01
Profit before tax	-12.66	-12.61	-12.31	-12.84	-13.06	-1.16	156.75	0.51	-0.82	0.00	0.56	1.07	0.25
Tax %	-1.11%	-1.11%	-1.22%	5.76%	-1.30%	-13.79%	12.15%	9.80%	20.73%		-253.57%	16.82%	0.00%
	-12.52	-12.46	-12.16	-13.58	-12.90	-1.00	137.70	0.46	-0.99	-0.06	1.98	0.89	0.25
EPS in Rs	-3.68	-3.66	-3.57	-3.99	-3.79	-0.33	4.52	0.02	-0.03	-0.00	0.07	0.03	0.01
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012 18m	Sep 2013	Mar 2015 18m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	556.21	50.44	39.30	42.36	72.12	70.84	68.23	66.13	62.81	65.44	52.63	48.84	46.75
	559.13	124.89	43.26	31.94	62.00	57.97	84.26	59.09	56.85	59.78	50.66	48.88	46.91
Operating Profit	-2.92	-74.45	-3.96	10.42	10.12	12.87	-16.03	7.04	5.96	5.66	1.97	-0.04	-0.16
OPM %	-0.52%	-147.60%	-10.08%	24.60%	14.03%	18.17%	-23.49%	10.65%	9.49%	8.65%	3.74%	-0.08%	-0.34%
	31.15	63.19	3.52	18.98	-3.35	1.97	0.19	3.08	0.24	0.13	158.11	0.73	2.17
Interest	73.92	50.56	70.09	53.67	51.89	52.40	52.45	52.43	52.40	52.40	26.21	0.01	0.00
Depreciation	72.32	52.77	57.21	11.16	6.07	5.90	5.40	4.55	4.28	4.27	4.18	0.45	0.13
Profit before tax	-118.01	-114.59	-127.74	-35.43	-51.19	-43.46	-73.69	-46.86	-50.48	-50.88	129.69	0.23	1.88
Tax %	3.24%	-39.67%	-11.97%	-6.35%	-0.78%	-0.90%	-10.50%	9.41%	-2.48%	-1.14%	15.01%	-500.00%
	-121.83	-69.12	-112.45	-33.18	-50.79	-43.06	-65.94	-51.27	-49.23	-50.30	110.22	1.38	3.06
EPS in Rs	-35.78	-20.30	-33.03	-9.74	-14.92	-12.65	-19.37	-15.06	-14.46	-14.77	3.62	0.05	0.11
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:	0%
5 Years:	-6%
3 Years:	-8%
TTM:	-3%

Compounded Profit Growth
10 Years:	7%
5 Years:	15%
3 Years:	27%
TTM:	238%

Stock Price CAGR
10 Years:	7%
5 Years:	63%
3 Years:	49%
1 Year:	0%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Sep 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	34.05	34.05	34.05	34.05	34.05	34.05	34.05	34.05	34.05	34.05	30.46	30.46	30.46
Reserves	332.72	251.64	148.71	115.53	57.47	14.85	-27.40	-51.06	-108.08	-146.56	-5.05	-3.95	-2.96
	598.78	778.42	734.32	772.55	789.06	747.06	797.21	1,047.18	1,091.80	1,155.96	0.00	0.00	0.20
	541.97	480.61	529.64	559.32	584.79	416.58	447.95	243.92	243.59	245.31	2.40	3.23	3.90
Total Liabilities	1,507.52	1,544.72	1,446.72	1,481.45	1,465.37	1,212.54	1,251.81	1,274.09	1,261.36	1,288.76	27.81	29.74	31.60
	171.47	120.08	64.60	55.17	50.10	44.54	39.41	32.13	27.86	23.59	3.84	2.00	0.30
CWIP	15.56	13.41	13.56	13.56	13.56	13.56	13.56	12.16	12.16	12.16	0.00	0.00	0.00
Investments	302.18	302.18	302.18	302.18	302.18	302.18	305.63	302.18	302.18	302.18	0.00	0.00	3.50
	1,018.31	1,109.05	1,066.38	1,110.54	1,099.53	852.26	893.21	927.62	919.16	950.83	23.97	27.74	27.80
Total Assets	1,507.52	1,544.72	1,446.72	1,481.45	1,465.37	1,212.54	1,251.81	1,274.09	1,261.36	1,288.76	27.81	29.74	31.60

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Sep 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	81.12	-11.65	107.22	-5.28	3.55	63.52	31.32	60.63	2.11	3.95	-9.29	-0.48
	-2.69	55.86	7.67	-1.68	1.09	0.26	20.16	10.78	0.24	0.12	0.59	0.96
	-82.32	-43.99	-114.24	7.86	-3.32	-63.86	-51.77	-68.83	-0.03	0.03	-2.25	0.00
Net Cash Flow	-3.89	0.22	0.66	0.90	1.31	-0.07	-0.29	2.57	2.32	4.10	-10.96	0.48

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Sep 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	526.22	6,589.47	7,924.31	7,685.68	4,450.80	3,247.85	3,532.95	3,822.21	3,932.25	3,906.63	15.67	3.36
Inventory Days	4.50	48.99	146.20	523.50	96.47	173.23	81.19	123.51		388.87
Days Payable	225.45	2,339.48	5,358.45	17,264.83	4,922.33	2,600.93	1,777.66	1,872.28		4,518.24
Cash Conversion Cycle	305.27	4,298.97	2,712.07	-9,055.65	-375.06	820.16	1,836.48	2,073.44	3,932.25	-222.75	15.67	3.36
Working Capital Days	-5.09	-50.00	-1,185.65	-1,248.20	-1,015.64	-1,560.94	-1,880.37	-1,125.85	-1,356.04	-1,367.19	14.70	-7.25
ROCE %	-4.33%	-6.31%	-5.71%	1.99%	0.47%	1.07%	-2.66%	0.62%	0.19%	0.15%	-0.30%	3.78%

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
	10.55%	10.55%	10.55%	10.54%	0.00%	90.00%	90.00%	90.00%	90.00%	90.00%	89.75%	85.57%
	1.95%	1.95%	1.95%	1.95%	2.18%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%
	87.50%	87.50%	87.50%	87.48%	97.81%	9.78%	9.78%	9.78%	9.77%	9.78%	10.03%	14.22%
No. of Shareholders	37,128	37,207	36,936	36,652	36,454	36,318	35,974	35,948	35,688	38,594	39,610	48,054

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	10.55%	10.55%	10.55%	10.55%	10.55%	10.55%	90.00%	90.00%	85.57%
	1.95%	2.06%	1.95%	1.95%	1.95%	1.95%	0.22%	0.22%	0.22%
	87.50%	87.39%	87.50%	87.50%	87.50%	87.50%	9.78%	9.78%	14.22%
No. of Shareholders	47,571	43,197	41,401	40,407	38,277	37,207	36,318	38,594	48,054

* 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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Bartronics India Ltd

Bartronics India Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports