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Energy Development

₹20.4 -0.1 | 0.6%

Market Cap ₹97 Cr.

Stock P/E -44.7

P/B 3.1

Current Price ₹20.4

Book Value ₹ 6.5

Face Value 10

52W High ₹37.8

Dividend Yield 0%

52W Low ₹ 18.9

Energy Development Research see more...

Overview Inc. Year: 1995Industry: Power Generation/Distribution

Energy Development Company Limited(EDCL) was incorporated in 1995 to participate in India’s renewable energy development program. EDCL generates clean electricity from water and wind in their own power plants and develops energy along with infrastructure projects for other developers. Currently, EDCL operates with a renewable energy capacity of 19 MW and is advancing with 291 MW of hydroelectric projects at various stages of development. Looking ahead, the company aims to expand its portfolio by developing and owning approximately 500 MW of new hydroelectric power projects within the next 5-7 years, with an estimated capital investment of Rs. 7000-8000 crores. EDCL has established a strong reputation for providing comprehensive hydropower solutions, encompassing feasibility studies, project management, engineering, procurement, construction services, and turnkey delivery.

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Energy Development Share Price

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Energy Development Quarterly Results

#(Fig in Cr.) Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Net Sales 17 10 4 6 11 9 4 7 15 8
Other Income 1 1 1 0 0 0 1 0 0 0
Total Income 17 10 5 6 11 10 5 7 15 8
Total Expenditure 3 3 4 3 3 3 5 3 4 4
Operating Profit 14 7 0 3 8 7 -0 4 11 5
Interest 4 4 1 3 3 3 2 2 2 2
Depreciation 3 3 3 3 3 3 3 3 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -76
Profit Before Tax 7 1 -4 -2 3 1 -5 -1 6 -77
Provision for Tax -0 -0 2 -0 -0 -0 1 -0 -0 -0
Profit After Tax 8 1 -5 -2 3 2 -5 -0 7 -76
Adjustments 0 0 -1 0 -0 -0 0 0 0 -0
Profit After Adjustments 8 2 -6 -2 3 2 -5 -0 7 -76
Adjusted Earnings Per Share 1.7 0.3 -1.3 -0.3 0.6 0.3 -1.1 -0.1 1.4 -16.1

Energy Development Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 49 38 149 115 60 35 30 31 43 37 30 34
Other Income 9 8 1 1 2 4 2 2 3 5 2 1
Total Income 58 46 150 116 62 39 32 34 46 42 32 35
Total Expenditure 19 11 134 107 40 20 18 15 12 13 14 16
Operating Profit 40 35 16 10 22 19 14 19 33 29 18 20
Interest 42 37 20 30 21 20 18 19 15 14 10 8
Depreciation 10 12 11 11 12 11 10 10 10 10 10 12
Exceptional Income / Expenses 0 0 0 37 0 0 0 0 0 0 0 -76
Profit Before Tax -12 -13 -15 5 -10 -12 -14 -10 8 5 -2 -77
Provision for Tax -2 1 1 1 3 -5 -10 -4 -2 1 -0 1
Profit After Tax -10 -14 -15 4 -13 -7 -4 -6 10 4 -2 -74
Adjustments 0 -0 0 1 1 1 1 2 0 0 0 0
Profit After Adjustments -10 -14 -15 5 -12 -6 -3 -5 10 4 -2 -74
Adjusted Earnings Per Share -3.7 -5.1 -3.2 1 -2.5 -1.2 -0.6 -1 2 0.9 -0.5 -15.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -19% -1% -3% -5%
Operating Profit CAGR -38% -2% -1% -8%
PAT CAGR -150% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -22% -5% 30% 1%
ROE Average -2% 4% 0% -4%
ROCE Average 3% 6% 5% 5%

Energy Development Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 152 328 310 123 108 100 94 89 99 103 101
Minority's Interest 0 0 0 -1 -2 -4 -5 -7 -7 -7 -7
Borrowings 286 131 118 149 155 161 155 157 98 94 89
Other Non-Current Liabilities 0 1 0 1 3 3 -3 -8 -12 -16 -16
Total Current Liabilities 49 32 83 128 96 88 97 103 161 165 166
Total Liabilities 487 491 512 400 360 348 339 335 340 340 334
Fixed Assets 230 217 207 197 203 192 182 172 162 151 141
Other Non-Current Assets 224 250 255 85 48 53 55 53 53 59 66
Total Current Assets 33 24 50 118 108 103 102 110 126 130 127
Total Assets 487 491 512 400 360 348 339 335 340 340 334

Energy Development Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 6 2 4 5 2 6 0 2 2 5 6
Cash Flow from Operating Activities 39 23 10 6 17 15 18 15 28 19 10
Cash Flow from Investing Activities -42 -14 -26 -5 9 -2 -1 -4 -11 -5 -1
Cash Flow from Financing Activities -1 -8 16 -4 -22 -19 -15 -11 -15 -13 -13
Net Cash Inflow / Outflow -4 2 1 -3 4 -5 2 -0 3 1 -4
Closing Cash & Cash Equivalent 2 4 5 2 6 0 2 2 5 6 2

Energy Development Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) -3.74 -5.07 -3.18 0.98 -2.45 -1.17 -0.64 -1.01 2.01 0.89 -0.46
CEPS(Rs) -0.03 -0.76 -0.86 3.13 -0.3 0.86 1.26 0.85 4.18 3.06 1.71
DPS(Rs) 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0 0 0 0
Book NAV/Share(Rs) 43.02 38.07 31.45 25.87 22.8 21.01 19.77 18.81 20.87 21.77 21.3
Core EBITDA Margin(%) 61.81 71.62 10.31 7.57 33.41 44.09 41.38 53.3 71.24 66.21 54.07
EBIT Margin(%) 59.57 61.35 3.41 30.81 17.36 23.08 13.22 27.3 53.14 50.96 25.57
Pre Tax Margin(%) -25.18 -35.18 -9.77 4.4 -16.93 -33.4 -47.96 -32.71 18.42 14.13 -7.42
PAT Margin (%) -20.89 -36.53 -10.11 3.44 -21.88 -20.19 -14.94 -20.2 22.21 11.25 -7.22
Cash Profit Margin (%) -0.19 -5.45 -2.73 12.89 -2.36 11.74 19.98 12.91 46.22 38.78 27.03
ROA(%) -2.16 -2.85 -3.01 0.87 -3.45 -1.99 -1.3 -1.88 2.83 1.24 -0.64
ROE(%) -8.28 -12.5 -11.89 2.92 -11.34 -6.78 -4.62 -6.9 10.13 4.16 -2.12
ROCE(%) 6.72 5.1 1.12 9.75 3.69 2.99 1.52 3.37 8.94 7.33 2.97
Receivable days 162.8 137.1 54.14 126.12 256.52 392.53 442.9 430.51 328.69 394.66 493.6
Inventory Days 32.67 32.61 7.21 5.73 7.93 15.56 15.21 9.81 6.62 7 8.36
Payable days 2611.63 0 5472.7 0 0 0 7655.51 0 0 0 0
PER(x) 0 0 0 33.48 0 0 0 0 10.42 17.68 0
Price/Book(x) 0.37 0.41 2.19 1.27 0.78 0.33 0.23 0.47 1 0.72 1.04
Dividend Yield(%) 3.13 3.22 0.72 1.53 2.8 7.31 11.24 0 0 0 0
EV/Net Sales(x) 7.48 10.46 4.08 2.72 4.03 5.62 5.94 6.44 5.65 5.71 8.02
EV/Core EBITDA(x) 9.32 11.31 37.8 32.68 10.93 10.22 12.35 10.66 7.32 7.27 13.41
Net Sales Growth(%) -4.17 -22.46 291.66 -22.78 -48.09 -41.67 -14.31 4.52 37.35 -12.89 -19.86
EBIT Growth(%) 260.72 -20.15 -78.2 596.57 -70.75 -22.44 -50.91 115.75 167.4 -16.46 -59.79
PAT Growth(%) -451.22 -35.55 -8.39 126.31 -429.7 46.16 36.61 -41.3 251.06 -55.87 -151.45
EPS Growth(%) -451.23 -35.6 37.27 130.76 -350.45 52.11 45.53 -57.33 300.05 -55.9 -151.45
Debt/Equity(x) 1.96 0.43 0.42 1.35 1.53 1.66 1.71 1.82 1.61 1.53 1.52
Current Ratio(x) 0.67 0.76 0.6 0.92 1.13 1.17 1.05 1.07 0.78 0.79 0.77
Quick Ratio(x) 0.6 0.65 0.57 0.91 1.12 1.15 1.04 1.06 0.77 0.78 0.76
Interest Cover(x) 0.7 0.64 0.26 1.17 0.51 0.41 0.22 0.45 1.53 1.38 0.78
Total Debt/Mcap(x) 6.77 3.28 0.4 1.07 1.95 5.1 7.58 3.85 1.61 2.13 1.46

Energy Development Shareholding Pattern

# Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Promoter 58.14 58.14 58.14 58.14 58.14 58.14 58.14 58.14 58.14 58.14
FII 0 0.01 0 0 0 0.12 0.04 0.19 0 0.08
DII 0 0 0 0 0 0 0 0 0 0
Public 41.86 41.85 41.86 41.86 41.86 41.75 41.82 41.67 41.86 41.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has reduced debt.

Cons

  • Company has a low return on equity of 4% over the last 3 years.
  • Stock is trading at 3.1 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.

Energy Development News

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