Smartlink Holdings Ltd

₹ 220 -2.97%

08 Nov - close price

smartlinkholdings.com BSE: 532419 NSE: SMARTLINK

About

Smartlink Group has been in the Networking
Products business for 3+ decades and is involved in sourcing, manufacturing, sales, marketing, and support. Smartlink Holdings Ltd. They are now an NBFC with assets which includes investment in the two subsidiary companies.^[1]

Key Points

Restructuring
The company was in networking products business for 3+ decades and involved in sourcing, manufacturing, sales, marketing & support, etc. It restructured its operations by splitting its operations in two independent subsidiaries i.e. Digisol Systems Ltd and Synergra EMS Ltd.^[1]
Post the restructuring, the income of Smartlink holdings is mainly from investments and rent income from immovable properties.^[2]

Website BSE NSE - BE

Market Cap ₹ 219 Cr.
Current Price ₹ 220
High / Low ₹ 356 / 156
Stock P/E 69.4
Book Value ₹ 206
Dividend Yield 0.00 %
ROCE 2.20 %
ROE 1.58 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 1.07 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -9.37% over past five years.
Company has a low return on equity of 5.63% over last 3 years.
Contingent liabilities of Rs.66.4 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: Finance Industry: Finance & Investments

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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
	2.61	1.90	1.95	1.53	2.22	2.94	2.85	3.02	3.27	3.02	3.23	3.14	3.78
	1.57	1.71	1.64	1.92	1.97	1.69	4.07	1.81	1.79	1.62	1.95	2.15	2.18
Operating Profit	1.04	0.19	0.31	-0.39	0.25	1.25	-1.22	1.21	1.48	1.40	1.28	0.99	1.60
OPM %	39.85%	10.00%	15.90%	-25.49%	11.26%	42.52%	-42.81%	40.07%	45.26%	46.36%	39.63%	31.53%	42.33%
	0.01	0.00	28.18	0.04	0.03	20.92	1.44	0.01	0.02	0.01	0.13	0.00	0.00
Interest	0.05	0.04	0.04	0.04	0.06	0.04	0.03	0.04	0.03	0.04	0.04	0.04	0.04
Depreciation	0.28	0.27	0.26	0.25	0.24	0.27	0.26	0.26	0.27	0.26	0.25	0.26	0.25
Profit before tax	0.72	-0.12	28.19	-0.64	-0.02	21.86	-0.07	0.92	1.20	1.11	1.12	0.69	1.31
Tax %	29.17%	-25.00%	0.32%	14.06%	-2,000.00%	17.25%	-128.57%	29.35%	27.50%	23.42%	26.79%	27.54%	24.43%
	0.52	-0.09	28.10	-0.73	0.37	18.08	0.02	0.66	0.87	0.86	0.82	0.50	0.98
EPS in Rs	0.52	-0.09	28.17	-0.73	0.37	18.13	0.02	0.66	0.87	0.86	0.82	0.50	0.98
Raw PDF

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
	154.28	154.32	92.88	0.00	22.59	18.06	20.72	15.16	15.06	9.09	9.55	12.67	13.17
	155.79	191.53	117.50	36.90	12.50	5.10	44.50	22.78	6.76	6.66	9.65	7.16	7.90
Operating Profit	-1.51	-37.21	-24.62	-36.90	10.09	12.96	-23.78	-7.62	8.30	2.43	-0.10	5.51	5.27
OPM %	-0.98%	-24.11%	-26.51%		44.67%	71.76%	-114.77%	-50.26%	55.11%	26.73%	-1.05%	43.49%	40.02%
	3.42	34.98	41.37	52.35	4.71	2.83	0.03	-4.21	0.26	28.20	22.42	0.04	0.14
Interest	0.07	0.01	0.00	0.05	0.15	0.07	0.20	0.39	0.28	0.17	0.17	0.15	0.16
Depreciation	3.89	3.70	3.27	1.38	1.20	1.28	1.23	1.43	1.37	1.08	1.02	1.05	1.02
Profit before tax	-2.05	-5.94	13.48	14.02	13.45	14.44	-25.18	-13.65	6.91	29.38	21.13	4.35	4.23
Tax %	-1.46%	-64.81%	2.00%	68.76%	61.49%	23.75%	12.55%	-3.66%	27.35%	1.43%	16.00%	26.21%
	-2.02	-2.09	13.21	4.38	5.17	11.00	-28.33	-13.14	5.02	28.95	17.74	3.20	3.16
EPS in Rs	-0.67	-0.70	4.40	1.46	2.29	4.88	-16.71	-9.88	3.77	29.02	17.78	3.21	3.16
Dividend Payout %	-297.03%	-287.08%	9.08%	0.00%	87.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-22%
5 Years:	-9%
3 Years:	-6%
TTM:	9%

Compounded Profit Growth
10 Years:	8%
5 Years:	16%
3 Years:	-13%
TTM:	36%

Stock Price CAGR
10 Years:	11%
5 Years:	21%
3 Years:	24%
1 Year:	26%

Return on Equity
10 Years:	1%
5 Years:	3%
3 Years:	6%
Last Year:	2%

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	6.00	6.00	6.00	6.00	4.51	4.51	3.39	2.66	2.66	2.00	2.00	2.00	2.00
Reserves	409.38	400.19	406.04	410.42	335.08	340.65	255.39	184.99	190.14	181.10	198.85	202.02	203.48
	0.00	0.00	0.00	0.00	0.00	0.00	1.40	3.17	1.97	1.80	1.47	1.47	1.43
	31.35	27.89	18.84	10.96	3.72	3.02	5.41	4.08	5.76	4.18	5.74	6.08	6.12
Total Liabilities	446.73	434.08	430.88	427.38	343.31	348.18	265.59	194.90	200.53	189.08	208.06	211.57	213.03
	29.44	26.45	23.22	21.49	20.15	19.11	19.70	26.15	24.11	23.08	21.55	20.55	20.19
CWIP	0.00	0.35	0.00	0.00	0.00	0.00	0.00	2.08	2.16	2.16	0.00	0.00	0.00
Investments	270.75	282.82	317.98	330.31	305.07	320.77	239.11	162.94	167.05	150.48	175.22	179.70	169.64
	146.54	124.46	89.68	75.58	18.09	8.30	6.78	3.73	7.21	13.36	11.29	11.32	23.20
Total Assets	446.73	434.08	430.88	427.38	343.31	348.18	265.59	194.90	200.53	189.08	208.06	211.57	213.03

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
	-17.53	-40.08	4.63	-26.11	-17.28	-6.87	70.15	70.07	1.00	38.91	-23.11	-0.02
	20.20	47.17	0.60	33.37	98.59	14.33	-4.33	-11.69	-0.09	-0.05	23.37	-0.03
	-7.04	-7.05	-7.01	-7.21	-82.16	-5.48	-67.63	-58.74	-0.56	-38.96	-0.22	-0.12
Net Cash Flow	-4.37	0.04	-1.77	0.05	-0.85	1.98	-1.82	-0.35	0.35	-0.09	0.04	-0.17

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	59.31	68.99	34.43		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Days	60.36	82.56	65.95
Days Payable	77.12	52.25	39.55
Cash Conversion Cycle	42.55	99.30	60.83		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Working Capital Days	53.11	89.24	46.73		36.35	49.31	12.51	39.73	6.54	46.18	43.95	43.50
ROCE %	-0.59%	-4.26%	3.29%	-1.45%	2.77%	4.26%	-8.26%	-4.00%	3.65%	15.57%	0.17%	2.20%

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
	69.89%	69.89%	69.89%	69.89%	69.89%	71.33%	71.33%	71.51%	71.90%	72.79%	72.84%	72.84%
	0.00%	0.33%	0.00%	0.10%	0.00%	0.18%	0.01%	0.00%	0.08%	0.00%	0.66%	0.91%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.48%	0.41%
	30.11%	29.78%	30.11%	30.01%	30.12%	28.49%	28.66%	28.48%	28.03%	27.21%	26.01%	25.83%
No. of Shareholders	12,635	13,613	14,278	14,028	13,613	13,093	12,688	12,402	12,217	12,025	11,691	11,398

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	72.70%	74.44%	73.89%	74.57%	74.57%	69.89%	71.33%	72.79%	72.84%
	0.01%	0.00%	0.00%	0.00%	0.00%	0.33%	0.18%	0.00%	0.91%
	0.07%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%
	27.22%	25.42%	26.11%	25.42%	25.42%	29.78%	28.49%	27.21%	25.83%
No. of Shareholders	14,789	13,077	11,157	10,280	11,931	13,613	13,093	12,025	11,398

* 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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Smartlink Holdings Ltd

Smartlink Holdings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports