Accelya Solutions

₹1671.5 53.2 | 3.3%

WEBSITE BSE:532268 NSE : ACCELYA 10 May, 16:01

Market Cap ₹2495 Cr.

Stock P/E 26.3

P/B 8.6

Current Price ₹1671.5

Book Value ₹ 193.7

Face Value 10

52W High ₹2128.3

Dividend Yield 3.89%

52W Low ₹ 1251.5

Edit Ratio

Accelya Solutions Research see more...

EQUITY RESEARCH: ACCELYA SOLUTIONS INDIA

Overview Inc. Year: 1986Industry: IT - Software

Accelya Solutions India Ltd, previously known as Accelya Kale Solutions Ltd, is a software solutions provider to the global airline and travel industry. It is in computer programming, consultancy and associated activities. Its geographical segments are Asia Pacific, which includes India, New Zealand, Japan and Australia; Middle East and Africa, including, Mauritius, Zimbabwe, Kenya and Tanzania; Americas, along with U.S and Canada, and Europe, consisting of Holland, France and Portugal. It provides software merchandise, controlled methods, technology and web hosting offerings. Its solutions consist of airline monetary solutions, airline commercial solutions and industry solutions. Its airline financial solutions consist of revenue accounting, cost management, miscellaneous billing, audit and revenue recovery, refund control and ground handling billing. Its enterprise solutions consist of simplified interline settlement (SIS) and neutral fare proration engine.

Accelya Solutions Share Price

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Peer Comparison

Accelya Solutions Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	87	93	103	115	112	119	123	127	125	131
Other Income	2	2	2	2	2	2	3	2	2	2
Total Income	89	95	105	117	114	121	126	129	127	133
Total Expenditure	56	58	61	64	72	75	73	79	79	80
Operating Profit	33	36	44	53	42	47	52	50	48	53
Interest	1	1	1	1	1	0	0	0	0	0
Depreciation	9	9	9	9	8	8	8	8	7	7
Exceptional Income / Expenses	0	0	0	0	0	12	0	0	0	-34
Profit Before Tax	23	27	34	44	34	50	44	42	40	12
Provision for Tax	6	7	9	11	8	13	11	11	9	12
Profit After Tax	17	20	25	33	25	36	32	32	31	0
Adjustments	-0	0	0	0	0	-0	-0	0	0	0
Profit After Adjustments	17	20	25	33	25	36	32	32	31	0
Adjusted Earnings Per Share	11.4	13.3	16.9	22.2	16.9	24.3	21.5	21.1	20.7	0.1

Accelya Solutions Profit & Loss

#(Fig in Cr.)	Jun 2013	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	TTM
Net Sales	304	317	303	341	367	383	433	412	290	368	469	506
Other Income	5	5	6	10	20	3	9	5	11	12	10	9
Total Income	309	322	309	351	388	386	442	417	301	381	479	515
Total Expenditure	173	180	188	209	222	233	263	259	205	238	285	311
Operating Profit	135	142	121	142	165	153	179	158	96	142	195	203
Interest	1	0	0	1	0	0	0	6	4	3	2	0
Depreciation	12	12	13	13	14	14	17	32	34	35	34	30
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	12	-34
Profit Before Tax	123	129	107	128	150	138	162	120	58	103	170	138
Provision for Tax	39	45	39	45	53	49	56	34	16	27	44	43
Profit After Tax	84	84	67	83	97	89	106	87	42	76	127	95
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	84	84	67	83	97	89	106	87	42	76	127	95
Adjusted Earnings Per Share	56.5	56.2	45.2	55.6	65.2	59.7	71.3	58.2	28.3	51	84.9	63.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	27%	4%	4%	4%
Operating Profit CAGR	37%	7%	5%	4%
PAT CAGR	67%	13%	7%	4%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	31%	24%	13%	10%
ROE Average	48%	32%	38%	54%
ROCE Average	65%	44%	55%	81%

Accelya Solutions Balance Sheet

#(Fig in Cr.)	Jun 2013	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023
Shareholder's Funds	102	110	115	113	181	180	198	245	239	263	270
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	18	13	84	74	50	90	98	90	33	39	68
Total Current Liabilities	124	162	135	176	227	129	134	189	175	177	194
Total Liabilities	244	284	334	363	458	398	430	524	447	479	532
Fixed Assets	74	79	75	77	62	69	71	137	125	101	87
Other Non-Current Assets	25	24	90	82	59	101	115	73	27	44	85
Total Current Assets	145	181	169	204	337	228	244	314	296	334	360
Total Assets	244	284	334	363	458	398	430	524	447	479	532

Accelya Solutions Cash Flow

#(Fig in Cr.)	Jun 2013	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023
Opening Cash & Cash Equivalents	15	21	20	21	28	21	24	21	39	48	30
Cash Flow from Operating Activities	114	104	66	80	93	111	87	131	87	118	133
Cash Flow from Investing Activities	-38	10	-8	-7	-26	-14	-3	-61	-11	-73	13
Cash Flow from Financing Activities	-70	-114	-57	-69	-73	-94	-86	-53	-66	-64	-132
Net Cash Inflow / Outflow	6	-0	2	4	-7	3	-3	17	10	-19	14
Closing Cash & Cash Equivalent	21	20	21	26	21	24	21	39	48	30	45

Accelya Solutions Ratios

#	Jun 2013	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023
Earnings Per Share (Rs)	56.53	56.23	45.15	55.62	65.15	59.75	71.27	58.16	28.27	51.04	84.9
CEPS(Rs)	64.25	64.4	54.08	64.54	74.78	69.36	82.46	79.9	51.04	74.78	107.54
DPS(Rs)	70	49	36	45	51	46	32	10	52	62	65
Book NAV/Share(Rs)	68.31	73.39	77.1	75.79	121.25	120.32	132.36	163.98	159.83	175.99	180.91
Core EBITDA Margin(%)	42.91	43.27	37.92	38.77	39.44	39.14	39.2	37.21	29.39	35.26	39.38
EBIT Margin(%)	40.69	40.93	35.41	37.67	41.06	36.27	37.41	30.55	21.43	28.95	36.75
Pre Tax Margin(%)	40.52	40.78	35.25	37.48	40.94	36.17	37.41	29.21	19.9	28.02	36.31
PAT Margin (%)	27.77	26.5	22.26	24.35	26.47	23.31	24.57	21.07	14.53	20.68	27
Cash Profit Margin (%)	31.56	30.35	26.66	28.25	30.38	27.06	28.42	28.94	26.24	30.3	34.2
ROA(%)	38.75	31.76	21.81	23.84	23.71	20.84	25.68	18.19	8.69	16.46	25.08
ROE(%)	70.46	79.36	60.01	72.76	66.13	49.47	56.41	39.25	17.46	30.4	47.58
ROCE(%)	102.99	122.54	95.47	112.58	102.57	76.97	85.9	56.92	25.75	42.56	64.76
Receivable days	39.14	41.2	45.36	40.86	52.45	58.25	56.67	71.81	92.61	65.43	56.41
Inventory Days	0	0	0	0	0	0	0	0	0	0	0
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	8.03	12.06	22.07	20.48	20.3	19.53	12.13	15.8	41.2	17.25	15.59
Price/Book(x)	6.64	9.24	12.93	15.03	10.91	9.7	6.53	5.6	7.29	5	7.32
Dividend Yield(%)	15.42	7.22	3.61	3.95	3.86	3.94	3.7	1.09	4.46	7.04	4.91
EV/Net Sales(x)	2.12	3.12	4.84	4.91	5.31	4.48	2.92	3.18	5.81	3.39	4.09
EV/Core EBITDA(x)	4.76	6.98	12.16	11.8	11.8	11.19	7.08	8.28	17.54	8.8	9.86
Net Sales Growth(%)	38.89	4.25	-4.39	12.6	7.75	4.12	13.2	-4.85	-29.53	26.87	27.41
EBIT Growth(%)	102.58	4.85	-17.28	19.8	17.42	-8.01	16.74	-22.29	-50.57	71.41	61.73
PAT Growth(%)	106.88	-0.53	-19.69	23.18	17.13	-8.3	19.29	-18.4	-51.39	80.54	66.33
EPS Growth(%)	106.88	-0.53	-19.69	23.18	17.13	-8.3	19.29	-18.4	-51.39	80.54	66.33
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0	0
Current Ratio(x)	1.16	1.12	1.25	1.16	1.48	1.78	1.82	1.66	1.68	1.89	1.86
Quick Ratio(x)	1.16	1.12	1.25	1.16	1.48	1.78	1.82	1.66	1.68	1.89	1.86
Interest Cover(x)	234.03	272.71	219.65	197.01	351.95	351.39	0	22.69	13.97	31.06	83.47
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Accelya Solutions Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.66	74.66	74.66	74.66	74.66	74.66	74.66	74.66	74.66	74.66
FII	0.6	0.52	0.55	0.59	0.2	0.3	0.21	0.26	0.27	0.38
DII	2.29	2.08	1.19	1.48	1.28	0.97	0.36	0.38	0.45	0.65
Public	22.46	22.74	23.61	23.28	23.86	24.07	24.78	24.7	24.62	24.31
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11
FII	0.01	0.01	0.01	0.01	0	0	0	0	0	0.01
DII	0.03	0.03	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01
Public	0.34	0.34	0.35	0.35	0.36	0.36	0.37	0.37	0.37	0.36
Others	0	0	0	0	0	0	0	0	0	0
Total	1.49	1.49	1.49	1.49	1.49	1.49	1.49	1.49	1.49	1.49

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 32%
Company is almost debt free.

Cons

Stock is trading at 8.6 times its book value.
The company has delivered a poor profit growth of 7% over past five years.

* 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.