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You are here : IndiaNotes >> Research & Analysis >> Companies >> JMC Projects (India) Ltd. >> Research

JMC Projects (India) Q4FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 18 May, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • JMC Projects (India) Ltd (JMC), is a subsidiary of Kalpataru Power Transmission Ltd, is India’s one of the leading contracting company.
  • Revenue for the 4th quarter stood at Rs. 6904.30 mn against Rs. 6517.20 mn, when compared with the prior year period.
  • For the quarter ended Q4 F Y17, EBITDA was Rs. 610.70 mn as against Rs. 578.40 mn in the corresponding period of the previous year.
  • During Q4 FY17, Profit before tax stood at Rs. 269.90 mn against Rs. 173.30 mn in Q4 FY16.
  • During Q4 F Y17, the company’s net profit stood at Rs. 178.50 mn as against Rs. 116.00 mn in the corresponding quarter ending of previous year, up by 53.88%.
  • EPS of the company stood at Rs. 5.32 during the quarter, as against Rs. 3.45 per share over previous year period.
  • JMC Projects (India) Ltd has recommended payment of equity dividend of Rs. 1.50 per equity share of Rs. 10/- each (equivalent to 15% on the paid-up equity capital) for the financial year 2016-17.
  • Net sales and PAT of the company are expected to grow at a CAGR of 15% and 35% over 2016 to 2019E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 287.00, the stock P/E ratio is at 12.73 x FY18E and 9.66 x FY19E respectively.
  • Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 22.54 and Rs. 29.72 respectively.
  • Operating Profit and PAT of the company are expected to grow at a CAGR of 15% and 35% over 2016 to 2019E, respectively.
  • On the basis of EV/EBITDA, the stock trades at 5.40 x for FY18E and 4.47 x for FY19E.
  • Price to Book Value of the stock is expected to be at 1.26 x and 1.11 x for FY18E and FY19E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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