Virinchi

₹39.6 0 | 0.1%

WEBSITE BSE:532372 NSE : VIRINCHI 18 May, 12:50

Market Cap ₹386 Cr.

Stock P/E 26.2

P/B 0.8

Current Price ₹39.6

Book Value ₹ 47

Face Value 10

52W High ₹52.5

Dividend Yield 0%

52W Low ₹ 28.3

Edit Ratio

Virinchi Research see more...

Overview Inc. Year: 1990Industry: IT - Software

Virinchi Limited, formerly Virinchi Technologies Ltd, is an IT services and products enterprise. The Company is engaged in software R&D. The Company's segments consist of Software Product, Software Services, IT Enabled, and Infrastructure and Real Estate Services. The Company's merchandise and solutions encompass QFund, Enterprise Enabler, FairShare, Vendor Relations Enabler, Virinchi Manufacturing, eTendering, eLogistics, iAcquisto, Catalog Manager, Online Auction, eSales, Active, TrakPORT, Case Trail and Language Processor. The Company offers numerous offerings, inclusive of utility development, data warehousing, Web services, company software integration practice (EAI), checking out offerings, preservation and support practise, packaged improvement services, controlled services and data centre offerings. QFund affords Web-based point of sale (PoS) solution capable of dealing with diverse short-time period finance transactions.

Virinchi Share Price

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Peer Comparison

Virinchi 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	82	84	76	79	79	78	80	73	73	75
Other Income	2	-2	0	1	1	1	0	1	0	4
Total Income	84	82	76	80	80	79	81	73	73	78
Total Expenditure	58	65	56	56	51	43	50	50	44	47
Operating Profit	25	16	21	24	29	36	30	23	29	32
Interest	6	6	7	7	8	11	11	10	11	11
Depreciation	12	12	12	19	14	11	15	13	14	12
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	-2	1	-2	7	15	4	0	5	8
Provision for Tax	1	-4	3	1	1	3	-1	-1	-0	6
Profit After Tax	6	2	-2	-4	6	12	4	1	6	2
Adjustments	-0	0	0	0	0	-0	0	0	0	0
Profit After Adjustments	6	3	-2	-3	6	12	4	2	6	2
Adjusted Earnings Per Share	0.8	0.3	-0.2	-0.4	0.7	1.5	0.5	0.2	0.6	0.2

Virinchi 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	79	113	139	218	287	341	407	381	354	364	312	301
Other Income	2	2	2	2	2	1	4	2	11	3	4	5
Total Income	80	115	141	220	289	343	411	383	365	367	316	305
Total Expenditure	65	98	117	187	223	246	287	271	258	263	205	191
Operating Profit	16	17	25	33	66	97	124	112	107	104	110	114
Interest	3	2	2	3	12	18	22	22	33	27	34	43
Depreciation	7	9	11	12	25	33	36	44	48	48	56	54
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	-5	0	0	0
Profit Before Tax	6	6	11	18	30	46	66	46	22	28	21	17
Provision for Tax	2	2	3	2	6	13	7	-1	19	14	8	4
Profit After Tax	4	4	8	16	24	33	59	46	3	14	13	13
Adjustments	0	0	0	0	0	-0	0	0	0	0	0	0
Profit After Adjustments	4	4	8	16	24	33	59	46	3	14	13	14
Adjusted Earnings Per Share	1	1.1	2.3	4.5	4.4	6.2	9.5	7.1	0.4	1.8	1.5	1.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-14%	-6%	-2%	15%
Operating Profit CAGR	6%	-1%	3%	21%
PAT CAGR	-7%	-34%	-17%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	21%	10%	1%	23%
ROE Average	3%	3%	9%	9%
ROCE Average	10%	10%	13%	12%

Virinchi 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	92	93	107	124	207	256	318	376	376	371	408
Minority's Interest	0	-0	0	0	0	-1	-1	-1	-1	-1	-1
Borrowings	22	13	15	88	118	108	106	104	99	111	120
Other Non-Current Liabilities	4	4	4	4	10	14	8	-0	113	122	145
Total Current Liabilities	7	16	24	48	83	116	104	88	100	100	114
Total Liabilities	125	127	150	264	418	494	535	567	687	703	787
Fixed Assets	77	80	75	143	316	323	376	395	495	479	460
Other Non-Current Assets	11	12	9	23	12	16	10	14	19	25	117
Total Current Assets	37	35	66	99	89	153	148	157	173	195	206
Total Assets	125	127	150	264	418	494	535	567	687	703	787

Virinchi 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	14	25	27	11	10	9	9	19	37
Cash Flow from Operating Activities	14	31	12	23	79	35	81	85	82	82	127
Cash Flow from Investing Activities	-20	-15	-3	-94	-126	-51	-83	-68	-154	-34	-137
Cash Flow from Financing Activities	7	-9	2	73	31	14	1	-17	83	-31	4
Net Cash Inflow / Outflow	1	6	11	2	-16	-1	-1	-0	10	18	-6
Closing Cash & Cash Equivalent	7	14	25	27	11	10	9	9	19	37	31

Virinchi 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)	1.01	1.08	2.31	4.51	4.42	6.19	9.5	7.1	0.37	1.8	1.54
CEPS(Rs)	3.06	3.38	5.47	7.86	9.06	12.4	15.3	13.89	6.85	7.84	8.21
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	25.31	25.68	29.5	34.12	38.29	45.06	49.21	55.89	49.36	45.52	46.54
Core EBITDA Margin(%)	17.9	13.2	15.95	14.25	22.27	28.05	29.52	28.98	27.09	27.63	34.24
EBIT Margin(%)	10.67	7.08	9.5	9.7	14.31	18.67	21.67	17.77	15.32	15.24	17.47
Pre Tax Margin(%)	7.15	5.36	7.96	8.31	10.29	13.39	16.25	11.95	6.09	7.72	6.63
PAT Margin (%)	4.62	3.22	5.96	7.42	8.23	9.73	14.47	12.18	0.76	3.88	4.08
Cash Profit Margin (%)	13.96	10.74	14.16	12.95	16.86	19.48	23.31	23.83	14.32	17.08	22.01
ROA(%)	3.02	2.88	5.97	7.82	6.92	7.29	11.46	8.43	0.43	2.03	1.71
ROE(%)	4.17	3.97	8.34	14.17	14.43	14.89	21.55	13.85	0.73	3.89	3.39
ROCE(%)	7.69	6.93	10.34	11.39	13.71	16.41	19.8	13.42	10.16	10.3	9.57
Receivable days	124.28	68.61	51.19	61.18	61.13	64.34	69.52	72.37	78.16	76.6	83.05
Inventory Days	0.04	0.02	0.01	0	10.12	9.75	8.42	8.67	11.34	13.35	13.44
Payable days	0	3234.3	5007.5	0	-997.93	-5200.7	6018.69	-4933.56	153.69	115.21	133.09
PER(x)	3.75	3.48	4.13	3.62	13.14	8.32	4.33	1.84	46.88	32.38	24.4
Price/Book(x)	0.15	0.15	0.32	0.48	1.52	1.14	0.84	0.23	0.35	1.28	0.81
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.36	0.21	0.29	0.65	1.59	1.25	1	0.61	0.76	1.65	1.53
EV/Core EBITDA(x)	1.79	1.44	1.65	4.27	6.95	4.38	3.29	2.08	2.52	5.81	4.31
Net Sales Growth(%)	15.63	43.58	22.83	57.34	31.3	19.1	19.23	-6.3	-7.2	2.82	-14.3
EBIT Growth(%)	-17.11	-4.72	64.84	60.6	93.68	55.36	38.41	-23.16	-20.01	2.3	-1.75
PAT Growth(%)	-32.61	0.1	127.34	96.06	45.6	40.75	77.42	-21.15	-94.25	428.22	-9.94
EPS Growth(%)	-43.87	6.72	113.81	95.26	-1.83	39.95	53.47	-25.26	-94.77	385.86	-14.82
Debt/Equity(x)	0.24	0.26	0.29	0.9	0.78	0.65	0.53	0.43	0.44	0.48	0.5
Current Ratio(x)	5.15	2.12	2.77	2.06	1.07	1.31	1.43	1.79	1.74	1.95	1.81
Quick Ratio(x)	5.15	2.12	2.77	2.06	0.97	1.23	1.35	1.68	1.61	1.8	1.74
Interest Cover(x)	3.03	4.11	6.15	6.99	3.56	3.54	4	3.05	1.66	2.03	1.61
Total Debt/Mcap(x)	1.6	1.78	0.91	1.88	0.51	0.54	0.63	1.83	1.25	0.38	0.62

Virinchi Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	49.41	49.33	49.24	44.3	44.26	41.42	41.32	40.04	39.72	37.29
FII	0.09	0.38	0.44	0.36	0.36	0.36	0.42	0.27	0.27	0.49
DII	0	0	0	0	0	0	0	0	0	0
Public	50.51	50.3	50.32	55.34	55.38	58.22	58.26	59.68	60.01	62.22
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	1.96	3.91	3.91	3.7	3.7	3.46	3.64	3.64	3.64	3.5
FII	0	0.03	0.04	0.03	0.03	0.03	0.04	0.03	0.03	0.05
DII	0	0	0	0	0	0	0	0	0	0
Public	2	3.99	4	4.62	4.62	4.87	5.13	5.43	5.5	5.85
Others	0	0	0	0	0	0	0	0	0	0
Total	3.96	7.93	7.95	8.34	8.35	8.36	8.81	9.09	9.17	9.4

Pros

Stock is trading at 0.8 times its book value
Company is almost debt free.

Cons

Promoter holding is low: 37.29%.
Company has a low return on equity of 3% over the last 3 years.
Debtor days have increased from 115.21 to 133.09days.
The company has delivered a poor profit growth of -16% 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.