Elnet Technologies

₹345.8 7.7 | 2.3%

WEBSITE BSE:517477 NSE : ELNET TECH. 18 May, 12:50

Market Cap ₹138 Cr.

Stock P/E 8.2

P/B 1

Current Price ₹345.8

Book Value ₹ 337.9

Face Value 10

52W High ₹399

Dividend Yield 0.58%

52W Low ₹ 174.3

Edit Ratio

Elnet Technologies Research see more...

Overview Inc. Year: 1990Industry: IT - Software

Elnet Technologies Limited is a company that manufactures, markets, and distributes a variety of communication equipment. The company was incorporated in 1990 as a public limited company and is located in Chennai, Tamil Nadu. It offers modems and converters, routers, ethernet, switches, and wireless products. The company serves the telecom, banking, finance, railways, defense, enterprise, manufacturing, and retail sectors. Besides this, they have a software division that provides IT solutions and services to various domains such as banking, insurance, healthcare, education, and e-governance. The promoters of Elnet Technologies Limited are Electronics Corporation of Tamil Nadu Limited (ELCOT), Stur Technologies Pvt. Limited, Southern Projects Management Pvt. Limited, and Stur Projects Management Pvt. Limited, who collectively hold 52.85% of the total shareholding as of December 2023.

Elnet Technologies Share Price

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Peer Comparison

Elnet Technologies Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	6	5	5	6	6	6	6	7	7	7
Other Income	1	1	1	1	1	1	2	2	2	2
Total Income	7	7	7	7	7	7	8	8	9	9
Total Expenditure	1	1	1	2	2	2	2	2	2	2
Operating Profit	6	5	5	5	5	6	6	6	7	7
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	0	0	0
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	5	4	4	4	4	5	5	5	6	6
Provision for Tax	1	1	1	1	1	1	1	1	2	2
Profit After Tax	3	3	3	3	3	4	3	4	5	5
Adjustments	0	0	0	0	0	-0	0	-0	0	0
Profit After Adjustments	3	3	3	3	3	4	3	4	5	5
Adjusted Earnings Per Share	8.5	8.3	8.3	6.4	8.6	10.3	8.4	9.8	11.9	11.9

Elnet Technologies 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	21	22	21	22	23	22	21	24	21	22	25	27
Other Income	1	1	2	2	3	4	4	5	5	5	6	8
Total Income	22	23	23	24	25	26	25	29	26	27	31	34
Total Expenditure	10	10	10	10	10	11	10	10	6	6	9	8
Operating Profit	11	12	13	14	16	15	16	19	21	21	22	26
Interest	0	0	0	0	0	0	1	1	1	1	1	0
Depreciation	3	3	5	4	3	3	3	4	4	3	3	1
Exceptional Income / Expenses	0	0	0	0	-0	-0	0	0	0	0	0	0
Profit Before Tax	8	9	9	10	12	12	12	15	16	17	19	22
Provision for Tax	3	3	3	3	4	3	3	4	4	4	5	6
Profit After Tax	5	6	6	6	8	9	8	11	12	13	14	17
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	5	6	6	6	8	9	8	11	12	13	14	17
Adjusted Earnings Per Share	13.5	14.6	14.1	16.1	19.6	22.5	21	27.1	30	31.5	34.2	42

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	14%	1%	3%	2%
Operating Profit CAGR	5%	5%	8%	7%
PAT CAGR	8%	8%	9%	11%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	83%	35%	29%	24%
ROE Average	12%	12%	12%	13%
ROCE Average	16%	17%	17%	18%

Elnet Technologies 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	38	43	47	53	59	68	75	85	97	110	123
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	4	4	4	4	0	0	0	0	0	0	0
Other Non-Current Liabilities	17	17	18	18	3	3	11	10	10	4	9
Total Current Liabilities	1	2	1	2	16	18	8	9	9	14	12
Total Liabilities	60	66	71	78	78	88	95	105	116	128	144
Fixed Assets	42	41	38	37	23	23	26	27	24	23	22
Other Non-Current Assets	8	10	10	13	35	21	22	49	26	64	79
Total Current Assets	10	15	23	28	21	45	47	29	66	42	43
Total Assets	60	66	71	78	78	88	95	105	116	128	144

Elnet Technologies 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	6	7	12	0	4	5	4	2	7	4	12
Cash Flow from Operating Activities	8	8	8	3	-8	25	7	-22	32	-25	14
Cash Flow from Investing Activities	-7	-4	-1	-3	10	-24	-9	28	-35	34	-15
Cash Flow from Financing Activities	1	0	-0	0	-1	-1	-1	-1	-0	-1	-1
Net Cash Inflow / Outflow	2	5	7	-0	1	-0	-3	5	-3	8	-2
Closing Cash & Cash Equivalent	7	12	19	0	5	4	2	7	4	12	10

Elnet Technologies 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)	13.47	14.6	14.07	16.12	19.59	22.5	21.03	27.12	29.97	31.53	34.24
CEPS(Rs)	21.62	23.22	26.34	26.52	27.83	29.5	29.32	36.82	38.75	40.07	40.64
DPS(Rs)	1.4	1.4	1.4	1.7	1.4	1.5	1.5	1.2	1.4	2	2
Book NAV/Share(Rs)	94.52	107.48	118.43	132.51	147.81	169.4	188.03	213.36	242.13	274.35	306.58
Core EBITDA Margin(%)	50.89	51.59	53.84	53.89	57.27	52.6	53.39	59.63	72.56	71.14	64.12
EBIT Margin(%)	38.01	40.12	39.9	44.37	54.09	56.38	58.74	64.64	79.69	78.96	78.5
Pre Tax Margin(%)	37.91	40.1	39.88	44.37	53.21	55.51	55.42	61.04	76.35	76.69	75.91
PAT Margin (%)	25.47	27.08	26.2	29.19	34.57	40.51	39.97	45.14	56.12	57.11	55.65
Cash Profit Margin (%)	40.88	43.08	49.06	48.04	49.12	53.11	55.74	61.27	72.57	72.57	66.06
ROA(%)	9.64	9.23	8.21	8.69	10.06	10.81	9.19	10.84	10.84	10.34	10.07
ROE(%)	15.22	14.45	12.45	12.84	13.97	14.18	11.77	13.51	13.16	12.21	11.79
ROCE(%)	20.28	19.37	17.33	17.99	20.32	18.5	16.32	18.38	17.85	16.21	16.04
Receivable days	31.18	30.27	30.12	30.26	33.35	38.34	38.51	30.31	42.67	42.45	33.15
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)	2.45	2.66	4.66	4.46	6.45	6.67	4.91	2.95	4	5.07	4.67
Price/Book(x)	0.35	0.36	0.55	0.54	0.85	0.89	0.55	0.37	0.49	0.58	0.52
Dividend Yield(%)	4.24	3.61	2.14	2.36	1.11	1	1.45	1.5	1.17	1.25	1.25
EV/Net Sales(x)	0.49	0.36	0.55	0.38	1.67	1.08	0.09	0.45	-0.25	1.44	1.36
EV/Core EBITDA(x)	0.91	0.65	0.88	0.6	2.42	1.57	0.12	0.56	-0.26	1.52	1.53
Net Sales Growth(%)	25.35	1.92	-0.39	2.83	2.63	-2	-5.26	14.22	-11.14	3.4	11.43
EBIT Growth(%)	19.88	7.56	-0.93	14.33	25.14	2.15	-1.3	25.7	9.55	2.45	10.78
PAT Growth(%)	27.9	8.35	-3.63	14.56	21.54	14.86	-6.53	28.98	10.49	5.23	8.57
EPS Growth(%)	27.9	8.35	-3.63	14.56	21.54	14.86	-6.53	28.98	10.49	5.23	8.57
Debt/Equity(x)	0.11	0.1	0.09	0.08	0.07	0.06	0.06	0.05	0.04	0.04	0.03
Current Ratio(x)	7.14	9.07	18.19	14.41	1.32	2.52	5.71	3.11	7.36	2.96	3.51
Quick Ratio(x)	7.14	9.07	18.19	14.41	1.32	2.52	5.71	3.11	7.36	2.96	3.51
Interest Cover(x)	372.47	2181.61	2333.85	0	61.09	64.93	17.7	17.93	23.8	34.76	30.25
Total Debt/Mcap(x)	0.32	0.27	0.16	0.15	0.08	0.07	0.1	0.13	0.09	0.07	0.07

Elnet Technologies Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	52.85	52.85	52.85	52.85	52.85	52.85	52.85	52.85	52.85	52.85
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0.15	0	0	0	0.17	0	0
Public	47.15	47.15	47.15	47.01	47.15	47.15	47.15	46.98	47.15	47.15
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	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19
Others	0	0	0	0	0	0	0	0	0	0
Total	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 12% over the last 3 years.
The company has delivered a poor profit growth of 9% 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.