Market Cap ₹151 Cr.
Stock P/E -0.6
P/B -0.2
Current Price ₹8.1
Book Value ₹ -37.6
Face Value 10
52W High ₹21.9
Dividend Yield 0%
52W Low ₹ 7.6
MEP Infrastructure Developers Ltd is a toll management company which operates network of highways, bridges, roads, and toll plazas. The Company's services consist of toll control, which offers infrastructure control and toll collection covering Mumbai entry factors, as well as build-operate-switch (BOT) project at Baramati with Road Infrastructure Development Company of Rajasthan (RIDCOR) in Rajasthan and with National Highways Authority of India (NHAI) across the nation, and operation and protection, which offers maintenance activities. Its security components consist of real-time surveillance, automated vehicle identity based on sensors and laser-based toll audit systems. The Company's tasks consist of Hyderabad-Bangalore Highway, IRDP Solapur, Kini-Tasawade Toll Plazas and Phalodi-Ramji, amongst others. The Company operates 47 Toll Plazas across nine states and has finished seventy three projects with about 131 toll plazas and 825 lanes throughout 12 states in India.
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PE falls below X
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 217 | 240 | 234 | 150 | 81 | 2 | 11 | 6 | 13 | 19 |
| Other Income | 7 | 3 | 6 | 4 | 3 | 6 | 12 | 3 | 2 | 0 |
| Total Income | 224 | 243 | 240 | 154 | 84 | 8 | 23 | 9 | 15 | 19 |
| Total Expenditure | 101 | 91 | 138 | 149 | 93 | 48 | 97 | 51 | 44 | 41 |
| Operating Profit | 124 | 152 | 102 | 5 | -9 | -39 | -74 | -41 | -29 | -22 |
| Interest | 75 | 69 | 74 | 26 | 19 | 15 | 6 | 14 | 24 | 16 |
| Depreciation | 60 | 63 | 69 | 40 | 19 | 2 | 2 | 2 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 44 | 0 | 0 | 0 | 0 | 0 | 0 | -59 |
| Profit Before Tax | -11 | 21 | 3 | -61 | -48 | -56 | -82 | -56 | -53 | -98 |
| Provision for Tax | 12 | 13 | 11 | 0 | 0 | -0 | 0 | -1 | 3 | 3 |
| Profit After Tax | -23 | 8 | -9 | -61 | -48 | -56 | -82 | -56 | -56 | -101 |
| Adjustments | -29 | -20 | -153 | -3 | 3 | 7 | 24 | 14 | 5 | -16 |
| Profit After Adjustments | -52 | -12 | -162 | -64 | -45 | -49 | -58 | -42 | -52 | -116 |
| Adjusted Earnings Per Share | -2.8 | -0.7 | -8.8 | -3.5 | -2.5 | -2.7 | -3.2 | -2.3 | -2.8 | -6.2 |
| #(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 | 1280 | 1198 | 2009 | 1905 | 1729 | 2322 | 2815 | 2056 | 1123 | 967 | 245 | 49 |
| Other Income | 22 | 43 | 33 | 76 | 86 | 120 | 122 | 140 | 166 | 35 | 35 | 17 |
| Total Income | 1302 | 1241 | 2041 | 1981 | 1815 | 2442 | 2937 | 2196 | 1289 | 1002 | 279 | 66 |
| Total Expenditure | 915 | 887 | 1565 | 374 | 440 | 1449 | 1855 | 1699 | 659 | 464 | 396 | 233 |
| Operating Profit | 387 | 354 | 476 | 1606 | 1375 | 993 | 1082 | 497 | 631 | 538 | -117 | -166 |
| Interest | 377 | 380 | 404 | 642 | 493 | 470 | 464 | 414 | 343 | 289 | 67 | 60 |
| Depreciation | 99 | 130 | 180 | 1012 | 868 | 419 | 494 | 392 | 253 | 256 | 63 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 158 | 0 | -31 | 226 | -69 | 43 | 0 | -59 |
| Profit Before Tax | -89 | -156 | -107 | -48 | 172 | 105 | 92 | -83 | -51 | -172 | -267 | -289 |
| Provision for Tax | -26 | -24 | 8 | -16 | 63 | 38 | 39 | 43 | 26 | 53 | 0 | 5 |
| Profit After Tax | -62 | -133 | -115 | -32 | 109 | 66 | 53 | -126 | -77 | -225 | -268 | -295 |
| Adjustments | 0 | 3 | 0 | -4 | 0 | 5 | 3 | 49 | 0 | 5 | 51 | 27 |
| Profit After Adjustments | -62 | -129 | -115 | -37 | 109 | 71 | 56 | -77 | -77 | -221 | -216 | -268 |
| Adjusted Earnings Per Share | 0 | 0 | 0 | -2.3 | 6.7 | 4.4 | 3.1 | -4.2 | -4.2 | -12 | -11.8 | -14.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -75% | -51% | -36% | -15% |
| Operating Profit CAGR | -122% | NAN% | NAN% | NAN% |
| PAT CAGR | 0% | 0% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -38% | -20% | -26% | NA% |
| ROE Average | 0% | -18% | -15% | -23% |
| ROCE Average | -21% | -1% | 5% | 10% |
| #(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 | 29 | -88 | -226 | -112 | -8 | 60 | 266 | 181 | 105 | -114 | -466 |
| Minority's Interest | 0 | 1 | 0 | 0 | 0 | 0 | -0 | 13 | 13 | 8 | -1 |
| Borrowings | 2913 | 2866 | 2957 | 2639 | 2515 | 2521 | 2143 | 1714 | 1589 | 1030 | 53 |
| Other Non-Current Liabilities | -48 | 85 | 95 | 632 | 574 | 318 | 252 | -31 | 2 | 20 | -46 |
| Total Current Liabilities | 346 | 597 | 799 | 2072 | 1663 | 1908 | 2435 | 2954 | 3000 | 2762 | 1758 |
| Total Liabilities | 3239 | 3462 | 3624 | 5230 | 4744 | 4807 | 5095 | 4831 | 4709 | 3706 | 3158 |
| Fixed Assets | 2151 | 2364 | 2156 | 3588 | 2465 | 2479 | 2082 | 1478 | 1265 | 1124 | 45 |
| Other Non-Current Assets | 732 | 783 | 1053 | 1061 | 1353 | 1185 | 1066 | 973 | 1201 | 1220 | 150 |
| Total Current Assets | 356 | 315 | 415 | 581 | 926 | 1143 | 1947 | 2381 | 2242 | 1361 | 967 |
| Total Assets | 3239 | 3462 | 3624 | 5230 | 4744 | 4807 | 5095 | 4831 | 4709 | 3706 | 3158 |
| #(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 | 51 | 51 | 76 | 49 | 55 | 35 | 35 | 37 | 30 | 9 | 13 |
| Cash Flow from Operating Activities | 431 | 470 | 276 | 453 | 463 | 710 | 503 | 767 | 547 | 306 | 378 |
| Cash Flow from Investing Activities | -39 | -48 | -87 | -73 | -57 | -373 | -19 | -31 | -72 | 113 | -16 |
| Cash Flow from Financing Activities | -393 | -397 | -216 | -374 | -426 | -338 | -482 | -743 | -497 | -415 | -361 |
| Net Cash Inflow / Outflow | -0 | 25 | -27 | 6 | -20 | -1 | 2 | -6 | -22 | 4 | 1 |
| Closing Cash & Cash Equivalent | 51 | 76 | 49 | 55 | 35 | 35 | 37 | 30 | 9 | 13 | 14 |
| # | 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) | 0 | 0 | 0 | -2.25 | 6.7 | 4.37 | 3.07 | -4.21 | -4.18 | -12.02 | -11.78 |
| CEPS(Rs) | 3.65 | -0.23 | 5.79 | 60.29 | 60.08 | 29.84 | 29.84 | 14.51 | 9.59 | 1.67 | -11.14 |
| DPS(Rs) | 0 | 0 | 0 | 0.2 | 0.25 | 0.3 | 0.3 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 0 | -6.92 | -0.49 | 3.68 | 14.47 | 9.88 | 5.7 | -6.22 | -26.71 |
| Core EBITDA Margin(%) | 28.5 | 25.92 | 22.08 | 80.35 | 74.54 | 37.59 | 34.1 | 17.39 | 41.37 | 52.07 | -62.06 |
| EBIT Margin(%) | 22.49 | 18.66 | 14.74 | 31.19 | 38.46 | 24.73 | 19.78 | 16.1 | 25.99 | 12.03 | -81.95 |
| Pre Tax Margin(%) | -6.92 | -13.04 | -5.35 | -2.51 | 9.95 | 4.5 | 3.28 | -4.05 | -4.55 | -17.83 | -109.2 |
| PAT Margin (%) | -4.88 | -11.07 | -5.74 | -1.69 | 6.29 | 2.85 | 1.9 | -6.13 | -6.84 | -23.31 | -109.4 |
| Cash Profit Margin (%) | 2.85 | -0.19 | 3.22 | 51.44 | 56.49 | 20.89 | 19.45 | 12.95 | 15.67 | 3.16 | -83.6 |
| ROA(%) | -1.91 | -3.96 | -3.26 | -0.73 | 2.18 | 1.39 | 1.08 | -2.54 | -1.61 | -5.36 | -7.8 |
| ROE(%) | -432.59 | 0 | 0 | 0 | 0 | 255.24 | 32.79 | -56.45 | -53.71 | 0 | 0 |
| ROCE(%) | 9.06 | 7.21 | 9.57 | 19.65 | 22.58 | 19.01 | 18.18 | 11.73 | 11.67 | 5.34 | -20.94 |
| Receivable days | 6.11 | 10.23 | 4.96 | 2.49 | 3.75 | 9.58 | 10.95 | 10.87 | 17.54 | 13.28 | 17.22 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 1.45 | 2.26 | 4.67 | 3.65 | 6.4 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 7.87 | 17.52 | 13.61 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | -5.49 | -108.34 | 20.79 | 2.88 | 1.23 | 2.79 | -3.09 | -0.44 |
| Dividend Yield(%) | 0 | 0 | 0 | 0.53 | 0.47 | 0.39 | 0.72 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 2.37 | 2.59 | 1.65 | 1.85 | 2.12 | 1.79 | 1.22 | 1.25 | 2.25 | 2.48 | 2.49 |
| EV/Core EBITDA(x) | 7.84 | 8.78 | 6.96 | 2.19 | 2.67 | 4.19 | 3.16 | 5.15 | 4.01 | 4.45 | -5.19 |
| Net Sales Growth(%) | 18.51 | -6.42 | 67.69 | -5.16 | -9.24 | 34.29 | 21.23 | -26.94 | -45.38 | -13.87 | -74.72 |
| EBIT Growth(%) | -7.36 | -22.37 | 32.5 | 100.68 | 11.91 | -13.67 | -3.01 | -40.53 | -11.85 | -60.14 | -272.23 |
| PAT Growth(%) | -3.33 | -112.21 | 13.03 | 72.14 | 438.44 | -39.07 | -19.48 | -336.39 | 39.12 | -193.66 | -18.66 |
| EPS Growth(%) | 0 | 0 | 0 | 0 | 397.72 | -34.85 | -29.73 | -237.19 | 0.75 | -187.86 | 2.03 |
| Debt/Equity(x) | -183.91 | -36.07 | -14.73 | -27.15 | -373.69 | 50.68 | 10.43 | 13.41 | 21.85 | -18.28 | -0.83 |
| Current Ratio(x) | 1.03 | 0.53 | 0.52 | 0.28 | 0.56 | 0.6 | 0.8 | 0.81 | 0.75 | 0.49 | 0.55 |
| Quick Ratio(x) | 1.03 | 0.53 | 0.52 | 0.28 | 0.56 | 0.6 | 0.8 | 0.8 | 0.74 | 0.49 | 0.55 |
| Interest Cover(x) | 0.76 | 0.59 | 0.73 | 0.93 | 1.35 | 1.22 | 1.2 | 0.8 | 0.85 | 0.4 | -3.01 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 4.94 | 3.45 | 2.44 | 3.61 | 10.91 | 7.83 | 5.91 | 1.9 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 58.25 | 58.16 | 57.9 | 44 | 43.46 | 42.36 | 41.27 | 39.39 | 39.12 | 32.41 |
| FII | 3.89 | 4.11 | 3.83 | 4.33 | 4.05 | 4.01 | 3.96 | 3.92 | 3.75 | 3.59 |
| DII | 7.8 | 5.9 | 5.3 | 5.25 | 5.17 | 5.14 | 5.6 | 5.5 | 5.37 | 10 |
| Public | 30.05 | 31.83 | 32.97 | 46.42 | 47.32 | 48.49 | 49.18 | 51.2 | 51.76 | 53.99 |
| 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 | 10.69 | 10.67 | 10.62 | 8.07 | 7.97 | 7.77 | 7.57 | 7.23 | 7.18 | 5.95 |
| FII | 0.71 | 0.75 | 0.7 | 0.79 | 0.74 | 0.73 | 0.73 | 0.72 | 0.69 | 0.66 |
| DII | 1.43 | 1.08 | 0.97 | 0.96 | 0.95 | 0.94 | 1.03 | 1.01 | 0.98 | 1.84 |
| Public | 5.51 | 5.84 | 6.05 | 8.52 | 8.68 | 8.9 | 9.02 | 9.39 | 9.5 | 9.91 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 | 18.34 |
Pros
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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