Equinox India Developments Ltd

₹ 115 -5.41%

13 Nov - close price

indiabulls.com; www.indiabulls.com/realestate BSE: 532832 NSE: EMBDL

About

The Co. has a presence in residential real estate development from Affordable to Premium & Uber-luxury space. It mainly focuses on the construction and development of residential, commercial and SEZ projects across the Indian metro cities. Geographically, the Company’s strategic focus is in key markets of MMR and NCR Region. ^[1] ^[2]

Key Points

Project Portfolio
The company has a total of 16 projects in 6 cities with a built-up area of 12.3 Mn Sq. ft (10.5 Residential and 1.8 Commercial). ^[1]

Website BSE NSE

Market Cap ₹ 7,300 Cr.
Current Price ₹ 115
High / Low ₹ 164 / 78.3
Stock P/E
Book Value ₹ 79.2
Dividend Yield 0.00 %
ROCE 0.44 %
ROE 0.07 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.

Cons

Company has low interest coverage ratio.
Company has a low return on equity of -0.38% over last 3 years.
Company has high debtors of 423 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: Miscellaneous Industry: Miscellaneous

Part of BSE SmallCap BSE Consumer Discretionary Nifty Total Market Nifty Microcap 250 BSE Allcap

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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
	0	0	0	0	3	0	0	0	0	0	42	7	6
	4	4	4	7	11	388	3	3	12	3	37	12	12
Operating Profit	-4	-4	-4	-7	-8	-388	-3	-3	-12	-3	5	-5	-7
OPM %					-281%						12%	-82%	-124%
	2	3	2	3	5	9	21	10	10	8	-3,573	2	2
Interest	10	11	13	11	7	6	3	4	6	5	5	8	6
Depreciation	0	1	1	1	1	1	1	0	0	0	0	0	1
Profit before tax	-12	-13	-16	-15	-10	-385	14	2	-8	-0	-3,573	-12	-12
Tax %	-1%	11%	-1%	0%	1%	0%	-0%	1%	0%	15%	0%	0%	-6%
	-12	-14	-15	-15	-11	-385	14	2	-9	-0	-3,574	-12	-11
EPS in Rs	-0.26	-0.30	-0.34	-0.27	-0.20	-7.12	0.26	0.04	-0.16	-0.01	-65.97	-0.19	-0.17
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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
	355	85	36	17	27	82	117	363	6	0	3	42	54
	109	60	31	47	44	38	73	293	22	18	23	54	65
Operating Profit	246	25	4	-29	-17	45	44	70	-17	-18	-20	-12	-11
OPM %	69%	29%	12%	-170%	-61%	54%	37%	19%	-277%		-724%	-29%	-20%
	234	302	283	408	398	301	438	191	41	10	-347	-3,546	-3,560
Interest	135	167	274	304	363	361	330	302	160	46	27	20	24
Depreciation	3	3	5	3	1	1	1	10	4	2	2	2	2
Profit before tax	341	157	9	72	17	-16	150	-51	-139	-55	-396	-3,580	-3,597
Tax %	21%	8%	-152%	9%	-3%	22%	29%	69%	0%	2%	0%	0%
	269	145	23	66	17	-20	106	-85	-140	-56	-397	-3,580	-3,597
EPS in Rs	6.33	3.41	0.54	1.42	0.36	-0.42	2.35	-1.88	-3.07	-1.24	-7.32	-66.10	-66.34
Dividend Payout %	32%	88%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-7%
5 Years:	-19%
3 Years:	92%
TTM:	1410%

Compounded Profit Growth
10 Years:	-31%
5 Years:	-48%
3 Years:	27%
TTM:	96%

Stock Price CAGR
10 Years:	4%
5 Years:	10%
3 Years:	-15%
1 Year:	43%

Return on Equity
10 Years:	0%
5 Years:	-1%
3 Years:	0%
Last Year:	0%

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	85	85	85	92	96	95	90	91	90	91	108	108	127
Reserves	5,607	5,646	5,674	6,008	6,072	6,828	6,452	6,358	6,232	6,247	6,632	3,184	4,914
	1,052	1,771	2,829	3,074	3,454	3,212	4,007	2,296	523	516	148	314	268
	141	91	127	384	110	58	110	107	18	25	4	45	16
Total Liabilities	6,884	7,593	8,715	9,558	9,732	10,193	10,659	8,852	6,863	6,878	6,891	3,651	5,326
	13	10	7	5	3	2	2	20	1	5	4	2	5
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	3,916	4,825	5,042	5,238	6,211	6,895	6,097	3,838	3,793	3,854	3,201	2,334	5,110
	2,955	2,757	3,667	4,316	3,518	3,295	4,559	4,994	3,068	3,018	3,687	1,316	211
Total Assets	6,884	7,593	8,715	9,558	9,732	10,193	10,659	8,852	6,863	6,878	6,891	3,651	5,326

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
	186	-64	13	-483	385	-57	26	111	-13	6	17	-21
	279	-312	-756	547	-845	720	-31	1,897	1,946	47	-455	-130
	-479	431	765	521	-173	-693	18	-2,020	-1,941	-47	438	153
Net Cash Flow	-13	55	22	585	-633	-31	13	-12	-8	5	-1	2

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	16	3	4	61	25	8	18	0	0		0	423
Inventory Days
Days Payable
Cash Conversion Cycle	16	3	4	61	25	8	18	0	0		0	423
Working Capital Days	1,273	9,396	27,777	54,704	28,726	9,164	9,972	2,771	178,900		472,682	10,731
ROCE %	7%	5%	4%	3%	4%	3%	5%	3%	0%	-0%	0%	0%

Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	0.26%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	19.88%	18.39%	22.36%	22.44%	22.74%	21.43%	22.58%	23.59%	23.11%	24.58%	28.90%	30.14%
	4.05%	4.86%	5.71%	4.35%	2.44%	1.37%	0.89%	1.07%	1.78%	0.41%	3.42%	5.02%
	75.12%	76.03%	71.59%	73.10%	74.72%	77.10%	76.41%	75.23%	75.01%	74.89%	67.60%	64.75%
	0.69%	0.69%	0.33%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.09%	0.09%
No. of Shareholders	2,70,565	3,10,512	3,32,141	3,29,807	3,15,294	3,14,158	3,06,438	3,16,665	3,12,356	3,04,762	3,59,479	3,14,999

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	50.35%	36.93%	38.90%	23.38%	11.99%	0.03%	0.00%	0.00%	0.00%
	18.08%	24.81%	28.50%	21.09%	15.90%	18.39%	21.43%	24.58%	30.14%
	2.72%	0.45%	0.32%	0.32%	1.80%	4.86%	1.37%	0.41%	5.02%
	28.86%	37.81%	32.28%	55.21%	69.63%	76.03%	77.10%	74.89%	64.75%
	0.00%	0.00%	0.00%	0.00%	0.69%	0.69%	0.11%	0.11%	0.09%
No. of Shareholders	87,596	96,053	1,17,373	1,05,628	1,53,856	3,10,512	3,14,158	3,04,762	3,14,999

* 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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