Birlasoft

₹585.4 -18.5 | 3.1%

WEBSITE BSE:532400 NSE : BSOFT 10 May, 16:01

Market Cap ₹16160 Cr.

Stock P/E 25.9

P/B 5.3

Current Price ₹585.4

Book Value ₹ 110.3

Face Value 2

52W High ₹861.6

Dividend Yield 1.11%

52W Low ₹ 304.1

Edit Ratio

Birlasoft Research see more...

EQUITY RESEARCH: Birla Soft Ltd.

Equity Research: Birlasoft Ltd

Overview Inc. Year: 1990Industry: IT - Software

Birlasoft Ltd is an India-based corporation, that is engaged in supplying IT services, consulting, and business solutions. The Company provides various services, which incorporates digital and organisation technology and offerings. Its digital offerings include data analytics, connected merchandise, intelligence automation, linked products, cloud, and blockchain. Its business enterprise technologies and offerings encompass customer relationship management, manufacturing, execution structures, product lifecycle management, supply chain management, IT transformation, applications control, testing, infrastructure and cloud technology. Its solutions encompass intelliAsset, TruView agreement lifecycle management (CLM), TruLens, Supplier Risk Rader, submission automation, and AKOYA. It serves diverse industries, which consist of automotive, banking, production, capital markets, coverage, media and entertainment, power and resources, life science and healthcare and utilities.

Birlasoft Share Price

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Peer Comparison

Birlasoft 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	1072	1101	1154	1192	1222	1226	1263	1310	1343	1363
Other Income	13	23	15	4	12	-2	17	20	28	46
Total Income	1085	1124	1170	1196	1234	1224	1279	1330	1371	1408
Total Expenditure	909	927	985	1022	1215	1059	1072	1107	1129	1141
Operating Profit	176	197	185	174	20	165	207	223	242	267
Interest	3	4	3	6	6	4	4	6	6	4
Depreciation	19	20	20	21	21	21	21	22	21	21
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	154	174	162	147	-7	140	182	196	215	242
Provision for Tax	40	41	42	32	10	28	44	50	54	62
Profit After Tax	114	133	121	115	-16	112	138	145	161	180
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	114	133	121	115	-16	112	138	145	161	180
Adjusted Earnings Per Share	4.1	4.8	4.3	4.2	-0.6	4.1	5	5.3	5.8	6.5

Birlasoft Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2239	2694	2990	3224	3320	2250	2551	3291	3556	4130	4795	5279
Other Income	21	33	35	28	54	24	26	45	30	67	30	111
Total Income	2259	2727	3025	3252	3374	2274	2577	3336	3586	4197	4825	5388
Total Expenditure	1912	2316	2666	2790	3005	1967	2244	2901	3038	3491	4282	4449
Operating Profit	347	411	360	462	369	307	332	435	548	706	543	939
Interest	14	26	26	17	14	8	11	16	13	13	19	20
Depreciation	47	54	85	69	83	40	50	83	80	77	82	85
Exceptional Income / Expenses	-1	12	0	-11	26	0	18	0	0	-0	0	0
Profit Before Tax	285	343	248	365	299	259	289	336	455	617	442	835
Provision for Tax	77	94	11	85	61	68	54	112	134	153	111	210
Profit After Tax	208	249	237	281	239	191	235	224	321	464	332	624
Adjustments	-9	0	0	0	-0	62	54	0	0	0	0	0
Profit After Adjustments	199	249	237	281	239	253	289	224	321	464	332	624
Adjusted Earnings Per Share	10.3	13.4	12.6	15	12.7	13.3	10.6	8.1	11.6	16.6	12.1	22.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	13%	16%	8%
Operating Profit CAGR	-23%	8%	12%	5%
PAT CAGR	-28%	14%	12%	5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	91%	33%	47%	14%
ROE Average	13%	16%	15%	17%
ROCE Average	18%	23%	21%	20%

Birlasoft Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1036	1275	1296	1385	1582	1817	1714	1892	2180	2583	2448
Minority's Interest	27	0	0	0	2	4	0	0	0	0	0
Borrowings	146	130	78	166	99	66	0	0	0	0	0
Other Non-Current Liabilities	7	-6	-10	-37	-25	-10	-74	63	92	48	-2
Total Current Liabilities	560	716	857	573	775	762	714	611	634	660	624
Total Liabilities	1776	2116	2222	2088	2432	2638	2354	2567	2906	3291	3070
Fixed Assets	619	813	730	630	671	829	588	751	698	725	736
Other Non-Current Assets	153	113	177	179	291	152	93	128	103	133	165
Total Current Assets	1004	1190	1315	1278	1470	1657	1674	1688	2105	2433	2170
Total Assets	1776	2116	2222	2088	2432	2638	2354	2567	2906	3291	3070

Birlasoft Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	147	190	192	328	286	379	465	362	450	466	291
Cash Flow from Operating Activities	120	103	289	410	163	407	-72	310	558	281	561
Cash Flow from Investing Activities	-350	-191	-112	-146	-150	-193	125	-44	-444	-307	252
Cash Flow from Financing Activities	272	79	-40	-307	80	-128	-116	-180	-97	-147	-636
Net Cash Inflow / Outflow	42	-9	137	-42	93	86	-63	86	17	-173	176
Closing Cash & Cash Equivalent	189	181	328	286	379	465	362	450	466	291	467

Birlasoft Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	10.32	13.42	12.6	14.96	12.67	13.34	10.56	8.11	11.57	16.59	12.06
CEPS(Rs)	13.24	16.33	17.13	18.64	17.07	12.21	10.41	11.09	14.47	19.33	15.06
DPS(Rs)	0.9	1.1	1.1	2.2	2.2	2.4	2	2	3.5	4.5	3.5
Book NAV/Share(Rs)	53.72	68.65	68.82	73.17	83.19	94.81	61.19	67.88	77.9	91.61	87.62
Core EBITDA Margin(%)	14.59	14.02	10.8	13.46	9.49	12.59	12.01	11.86	14.57	15.48	10.7
EBIT Margin(%)	13.35	13.69	9.14	11.84	9.41	11.87	11.77	10.71	13.16	15.25	9.61
Pre Tax Margin(%)	12.72	12.73	8.28	11.33	9	11.5	11.34	10.22	12.79	14.93	9.23
PAT Margin (%)	9.3	9.24	7.89	8.71	7.18	8.5	9.23	6.82	9.02	11.23	6.92
Cash Profit Margin (%)	11.4	11.24	10.73	10.85	9.67	10.28	11.18	9.33	11.28	13.08	8.63
ROA(%)	13.37	12.79	10.93	13.04	10.56	7.54	9.43	9.12	11.72	14.96	10.42
ROE(%)	23.82	21.56	18.46	21.05	16.23	11.37	13.55	12.62	15.89	19.64	13.35
ROCE(%)	25.53	23.27	15.37	22.23	17.35	13.03	15.48	19.34	22.98	26.44	18.33
Receivable days	72.6	77.33	83.41	78.28	80.75	128.98	108.5	80.46	70.42	65.42	66.83
Inventory Days	0	0.46	1.6	3.44	4.47	5.45	0	0	0	0	0
Payable days	0	0	504.09	3421.73	1777.9	0	0	0	0	0	0
PER(x)	9.31	11.97	14.94	9.86	10.23	16.25	9.3	7.59	21.86	27.4	21.64
Price/Book(x)	1.79	2.34	2.74	2.01	1.56	2.29	1.61	0.91	3.25	4.96	2.98
Dividend Yield(%)	0.94	0.68	0.58	1.49	1.7	1.11	2.04	3.25	1.38	0.99	1.34
EV/Net Sales(x)	0.9	1.22	1.23	0.81	0.73	1.74	0.92	0.33	1.82	2.98	1.38
EV/Core EBITDA(x)	5.82	8	10.24	5.67	6.6	12.74	7.08	2.46	11.83	17.45	12.19
Net Sales Growth(%)	49.24	20.34	10.98	7.84	2.97	-32.24	13.37	-16.52	8.04	16.16	16.09
EBIT Growth(%)	52.52	23.4	-25.58	39.18	-18.14	-14.63	12.43	-13.23	32.79	34.59	-26.79
PAT Growth(%)	43.59	19.59	-4.81	18.53	-15.08	-19.85	23.12	-25.68	43.01	44.51	-28.48
EPS Growth(%)	26.35	30.03	-6.11	18.68	-15.26	5.28	-20.86	-23.22	42.71	43.37	-27.28
Debt/Equity(x)	0.35	0.39	0.39	0.18	0.25	0.17	0.02	0	0	0	0
Current Ratio(x)	1.79	1.66	1.53	2.23	1.9	2.18	2.34	2.76	3.32	3.69	3.48
Quick Ratio(x)	1.79	1.66	1.51	2.16	1.84	2.14	2.34	2.76	3.32	3.69	3.48
Interest Cover(x)	21.12	14.31	10.56	23.09	23	32.83	27.68	21.85	35.87	48.38	24.8
Total Debt/Mcap(x)	0.2	0.16	0.14	0.09	0.15	0.07	0.01	0	0	0	0

Birlasoft Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	40.55	40.4	40.32	41.48	41.31	41.08	41.03	40.97	40.95	40.92
FII	17.39	15.41	15.24	12.95	12.4	11.47	11.31	17.57	21.25	23.48
DII	21.36	22.67	21.12	19.86	20.1	21.2	24.49	22.39	20.16	18.62
Public	20.7	21.53	23.32	25.71	26.19	26.25	23.17	19.06	17.65	16.99
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	11.29	11.29	11.29	11.29	11.29	11.29	11.29	11.29	11.29	11.29
FII	4.84	4.31	4.27	3.52	3.39	3.15	3.11	4.84	5.86	6.48
DII	5.95	6.33	5.91	5.41	5.49	5.83	6.74	6.17	5.56	5.14
Public	5.76	6.02	6.53	7	7.16	7.21	6.37	5.25	4.87	4.69
Others	0	0	0	0	0	0	0	0	0	0
Total	27.84	27.95	28	27.22	27.33	27.49	27.52	27.56	27.57	27.59

Pros

Company is almost debt free.

Cons

Promoter holding is low: 40.92%.
Stock is trading at 5.3 times its book value.

* 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.