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| Name of Company | IVRCL infrastructures and projects Ltd |
| BSE Code | 530773 |
| NSE Code | IVRCLINFRA |
| ICICI Code | |
| Established | 1990 |
| My Take | So-So |
| Headquarters | Hyderabad |
| Promoters | Sudhir Reddy |
| Story | EPC, BOT/BOOT projects. |
| Sector | Infrastructure |
| Sub-sector | Water, transport, power, commercial |
| Website | |
| Positives | Near 52 week low. Regular dividend payer (but yields expected <0.5%). Topline has grown from 1500 Cr to 5500 Cr from FY06 to FY10. NPMs are comparable to other infrastructure players except L&T. |
| Negatives | 9% promoter holding. 1600 Cr debt. Low NPMs at 2-4%. Profit has just doubled from FY06 to FY10. |
| Peers | |
| News | |
| Price @ blogged | 139.5 (13-Nov-10) |
| Cost of company | 3700 Cr market cap for 211 Cr FY10 NP makes it 17 times. 1800 Cr reserves does not improve this position as the company has 1600 Cr debt. |
Now market cap has fallen to 1831 Cr. Still near 52 week lows. If the promoters dont have faith in this company (9% promoter holding), who will? This is not a L&T to run without promoters. Though the reserves are greater than debt, I dont seem to believe these numbers - esp because huge interest payment (FY10 interest payment was 163 Cr, while NP was 211 Cr)
ReplyDeletehttp://nse-invest.blogspot.com/2011/12/ivrcl-group-workings.html
ReplyDeleteIVRCL promoters just move money around to keep their pockets happy.