Neyveli Lignite

₹217.8 4.8 | 2.3%

WEBSITE BSE:513683 NSE : NLCINDIA 10 May, 16:01

Market Cap ₹30201 Cr.

Stock P/E 11.8

P/B 1.8

Current Price ₹217.8

Book Value ₹ 119.9

Face Value 10

52W High ₹293.6

Dividend Yield 1.61%

52W Low ₹ 83.3

Edit Ratio

Neyveli Lignite Research see more...

Overview Inc. Year: 1956Industry: Power Generation/Distribution

NLC India Ltd is an India-based business enterprise, which is engaged in the enterprise of mining of lignite, coal, and generation of power through the use of lignite as well as renewable power sources. The Company's segments comprises Mining and Power Generation. The Mining section is engaged in the mining of lignite. The Power Generation section is engaged in the generation of power and sale to electricity utilities throughout the country. Its essential products encompass lignite mining, coal mining, thermal power generation, renewable energy technology, together with solar and wind and power trading. It has about four open solid lignite mines, together with Mine I, Mine II, Mine IA and Barsingsar Mine and one open solid coal mine, Talabira II and III. It has approximately five pithead thermal power stations with an aggregate ability of approximately 3640 megawatts (MW). The Company's subsidiaries are NLC Tamilnadu Power Ltd and Neyveli Uttar Pradesh Power Ltd.

Neyveli Lignite Share Price

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Peer Comparison

Neyveli Lignite Quarterly Results

#(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	3094	2732	3086	3863	3489	3679	5134	3316	2978	3164
Other Income	220	113	79	103	90	303	722	112	257	85
Total Income	3314	2845	3165	3966	3579	3982	5856	3428	3234	3249
Total Expenditure	1789	1764	1926	2455	2192	3957	3898	2123	864	2196
Operating Profit	1525	1081	1239	1511	1387	25	1958	1306	2370	1054
Interest	269	232	215	221	337	232	221	231	214	205
Depreciation	423	438	618	436	434	460	472	461	455	446
Exceptional Income / Expenses	466	-76	0	0	-0	-3	-9	0	0	0
Profit Before Tax	1298	335	407	854	616	-670	1256	614	1701	402
Provision for Tax	1101	105	76	286	199	-274	420	200	615	148
Profit After Tax	197	230	331	568	417	-396	837	414	1086	254
Adjustments	-11	1	-3	-7	-6	-10	-7	-9	-1	-4
Profit After Adjustments	186	231	328	562	411	-407	830	405	1085	250
Adjusted Earnings Per Share	1.3	1.7	2.4	4.1	3	-2.9	6	2.9	7.8	1.8

Neyveli Lignite 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	5590	5820	4376	7876	11186	11288	9871	10321	9846	11948	16165	14592
Other Income	589	1061	732	493	714	576	908	1272	1952	598	1218	1176
Total Income	6179	6881	5107	8369	11900	11864	10778	11593	11798	12546	17383	15767
Total Expenditure	3589	4048	2480	5352	6925	7275	7577	6873	7043	7785	10324	9081
Operating Profit	2590	2834	2628	3017	4975	4590	3202	4720	4755	4761	7059	6688
Interest	193	182	150	467	588	548	700	1174	1313	984	1012	871
Depreciation	512	517	441	910	1044	1232	1121	1334	1611	1909	1801	1834
Exceptional Income / Expenses	161	-73	346	-935	-1054	10	1180	134	392	735	-2191	-9
Profit Before Tax	2046	2062	2383	705	2289	2821	2561	2345	2223	2603	2056	3973
Provision for Tax	588	666	804	637	-167	864	1024	893	909	1488	631	1383
Profit After Tax	1458	1396	1579	68	2457	1957	1537	1452	1314	1115	1425	2591
Adjustments	0	106	0	0	-27	49	-64	-136	-4	46	-29	-21
Profit After Adjustments	1458	1502	1580	68	2430	2006	1474	1316	1310	1161	1396	2570
Adjusted Earnings Per Share	8.7	9	9.4	0.4	15.9	13.1	10.6	9.5	9.4	8.4	10.1	18.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	35%	16%	7%	11%
Operating Profit CAGR	48%	14%	9%	11%
PAT CAGR	28%	-1%	-6%	-0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	162%	60%	27%	12%
ROE Average	10%	9%	10%	11%
ROCE Average	8%	9%	9%	10%

Neyveli Lignite 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	12950	13902	14876	12782	12126	13352	12769	12905	13485	14189	15169
Minority's Interest	131	161	368	640	674	686	1102	1767	1897	2185	2457
Borrowings	6017	6211	6011	7050	8537	9380	14377	18943	18934	18845	18498
Other Non-Current Liabilities	1460	1367	1960	2368	2134	2923	3647	3353	4268	5599	5730
Total Current Liabilities	4015	4585	4236	6847	11692	12571	14206	16718	16033	9989	11442
Total Liabilities	24573	26227	27449	29688	35163	38911	46102	53687	54617	50807	53296
Fixed Assets	6703	6548	6655	16327	15997	16765	17658	24109	25824	24875	24058
Other Non-Current Assets	8200	9980	11523	3366	7404	10471	15658	13689	12642	14640	17435
Total Current Assets	9671	9699	9272	9995	11761	11676	12785	15889	16151	11292	11803
Total Assets	24573	26227	27449	29688	35163	38911	46102	53687	54617	50807	53296

Neyveli Lignite 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	3347	2876	4274	3254	3238	63	102	18	17	157	139
Cash Flow from Operating Activities	1207	3737	1036	1301	1225	4533	1620	1647	4390	7746	3761
Cash Flow from Investing Activities	-1108	-1393	-502	-1380	-4332	-4593	-6119	-5812	-2212	-763	-2089
Cash Flow from Financing Activities	-569	-946	-1231	63	-68	98	4416	4163	-2037	-7001	-1735
Net Cash Inflow / Outflow	-471	1398	-696	-17	-3174	39	-83	-2	140	-18	-62
Closing Cash & Cash Equivalent	2876	4274	3578	3238	63	102	18	17	157	139	77

Neyveli Lignite 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)	8.69	8.95	9.42	0.41	15.9	13.12	10.63	9.49	9.45	8.37	10.07
CEPS(Rs)	11.74	11.4	12.04	5.83	22.9	20.86	19.17	20.09	21.1	21.81	23.26
DPS(Rs)	2.8	2.8	2.8	3	7.34	4.5	4.53	7.06	2.5	3	3.5
Book NAV/Share(Rs)	77.19	82.87	88.67	76.19	79.33	87.35	92.09	93.07	97.25	102.33	109.39
Core EBITDA Margin(%)	35.72	30.39	43.23	32.05	38.09	35.56	23.24	33.4	28.46	34.84	36.14
EBIT Margin(%)	39.98	38.47	57.75	14.89	25.73	29.84	33.04	34.1	35.91	30.02	18.98
Pre Tax Margin(%)	36.53	35.35	54.33	8.95	20.47	24.99	25.95	22.72	22.58	21.79	12.72
PAT Margin (%)	26.03	23.93	36.01	0.86	21.96	17.33	15.57	14.07	13.35	9.33	8.82
Cash Profit Margin (%)	35.18	32.8	46.06	12.42	31.29	28.24	26.93	27	29.71	25.31	19.96
ROA(%)	6.18	5.49	5.88	0.24	7.58	5.28	3.62	2.91	2.43	2.12	2.74
ROE(%)	11.67	10.4	10.98	0.49	19.73	15.36	11.77	11.31	9.96	8.06	9.71
ROCE(%)	12.05	11.26	12.07	5.49	12.84	13.43	10.88	9.58	8.75	9.32	8.32
Receivable days	242.68	187.87	186.7	139.5	139.19	151.19	198.66	259.88	297.14	171.55	90.02
Inventory Days	38.78	42.72	65.76	55.79	62.73	71.55	70.43	60.19	61.39	43.23	26.91
Payable days	-2905.99	-2245.12	-979.29	-896.83	-1016.13	9014.75	4058.86	0	0	1307.46	3098.76
PER(x)	7.58	6.83	7.47	175.02	6.75	6.39	6.54	4.64	5.34	7.47	7.67
Price/Book(x)	0.85	0.74	0.79	0.93	1.35	0.96	0.76	0.47	0.52	0.61	0.71
Dividend Yield(%)	4.25	4.58	3.98	4.23	6.84	5.37	6.51	16.05	4.96	4.8	4.53
EV/Net Sales(x)	2.61	2.16	3.39	2.12	2.45	2.27	3.01	3.19	3.4	2.54	2.03
EV/Core EBITDA(x)	5.63	4.44	5.64	5.54	5.5	5.59	9.28	6.97	7.03	6.38	4.64
Net Sales Growth(%)	14.86	4.12	-24.82	79.98	42.03	0.92	-12.56	4.56	-4.6	21.35	35.3
EBIT Growth(%)	4.95	0.21	12.88	-53.71	145.45	17.06	-3.18	7.92	0.46	1.45	-14.48
PAT Growth(%)	3.29	-4.26	13.16	-95.7	3514.33	-20.35	-21.43	-5.54	-9.51	-15.14	27.8
EPS Growth(%)	3.29	3.03	5.18	-95.7	3824.34	-17.44	-19.03	-10.69	-0.47	-11.34	20.18
Debt/Equity(x)	0.5	0.47	0.44	0.66	0.95	0.99	1.61	2.11	2.02	1.55	1.47
Current Ratio(x)	2.41	2.12	2.19	1.46	1.01	0.93	0.9	0.95	1.01	1.13	1.03
Quick Ratio(x)	2.24	1.97	1.98	1.24	0.81	0.76	0.78	0.85	0.91	1.01	0.93
Interest Cover(x)	11.58	12.36	16.93	2.51	4.89	6.15	4.66	3	2.69	3.65	3.03
Total Debt/Mcap(x)	0.58	0.64	0.56	0.71	0.7	1.03	2.14	4.46	3.89	2.54	2.08

Neyveli Lignite Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	79.2	79.2	79.2	79.2	79.2	79.2	79.2	79.2	79.2	72.2
FII	0.62	1.05	1.21	1.16	0.83	0.67	0.81	0.95	1.21	2.39
DII	10.47	10.02	9.79	9.63	10.18	11.2	12.33	13.48	13.15	17.68
Public	9.71	9.74	9.79	10.01	9.79	8.93	7.66	6.37	6.44	7.73
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	109.82	109.82	109.82	109.82	109.82	109.82	109.82	109.82	109.82	100.12
FII	0.86	1.45	1.68	1.61	1.15	0.93	1.12	1.31	1.68	3.31
DII	14.51	13.89	13.58	13.35	14.12	15.53	17.09	18.7	18.23	24.52
Public	13.47	13.5	13.58	13.88	13.57	12.39	10.63	8.83	8.93	10.72
Others	0	0	0	0	0	0	0	0	0	0
Total	138.66	138.66	138.66	138.66	138.66	138.66	138.66	138.66	138.66	138.66

Pros

Company has reduced debt.

Cons

Company has a low return on equity of 9% over the last 3 years.
Debtor days have increased from 1307.46 to 3098.76days.
The company has delivered a poor profit growth of -6% 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.