WEP Solutions

₹39.3 0.5 | 1.2%

WEBSITE BSE:532373 NSE : WEPSOLN 18 May, 12:50

Market Cap ₹144 Cr.

Stock P/E 39.0

P/B 2.4

Current Price ₹39.3

Book Value ₹ 16.1

Face Value 10

52W High ₹54

Dividend Yield 1.27%

52W Low ₹ 18.5

Edit Ratio

WEP Solutions Research see more...

Overview Inc. Year: 1995Industry: IT - Software

WEP Solutions Limited, incorporated on March 1, 1995, is a public company listed in Bangalore, Karnataka. It specializes in managed printing solutions (MPS), printer business, and digital services like GST services, Aadhaar authentication services, and document management solutions (DMS).The company’s management includes directors such as Ram Narayan Agrawal and Grama Hiriyannaiah Visweswara, who guide the strategic direction of WEP Solutions. With an authorized share capital of INR 40.00 cr and a paid-up capital of INR 36.60 cr, the company’s operating revenues range from INR 100 cr to 500 cr for the financial year ending on March 31, 2022. WEP Solutions has a history that dates back to 1988 when it was established as part of Wipro’s domestic IT business. In September 2000, Wipro spun off its IT Peripherals business into a separate independent company, Wipro e-Peripherals, which was later renamed as WeP Peripherals.

WEP Solutions Share Price

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Peer Comparison

WEP Solutions Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	29	25	19	16	17	18
Other Income	0	0	0	0	0	0
Total Income	30	25	19	16	17	18
Total Expenditure	26	22	16	13	14	15
Operating Profit	4	4	4	4	3	4
Interest	0	0	0	0	0	0
Depreciation	2	2	2	2	2	2
Exceptional Income / Expenses	0	0	0	0	0	0
Profit Before Tax	1	1	1	1	1	1
Provision for Tax	0	0	0	0	0	0
Profit After Tax	1	1	1	1	1	1
Adjustments	0	-0	0	-0	-0	-0
Profit After Adjustments	1	1	1	1	1	1
Adjusted Earnings Per Share	0.2	0.2	0.2	0.2	0.2	0.3

WEP Solutions 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	152	116	104	89	78	79	74	66	64	111	92	70
Other Income	0	1	1	0	1	1	1	1	0	1	1	0
Total Income	152	117	105	89	79	80	75	67	65	112	94	70
Total Expenditure	140	105	94	80	68	68	63	53	54	98	79	58
Operating Profit	13	12	11	10	10	12	12	14	11	14	15	15
Interest	3	2	2	2	1	1	1	1	2	1	1	0
Depreciation	8	7	7	6	8	9	11	13	11	9	9	8
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2	3	2	2	1	2	-0	0	-1	4	5	4
Provision for Tax	1	1	1	1	0	1	0	0	-0	1	-1	0
Profit After Tax	1	2	2	1	1	1	-0	0	-1	3	6	4
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	1	2	2	1	1	1	-0	0	-1	3	6	4
Adjusted Earnings Per Share	0.8	0.8	0.6	0.4	0.3	0.5	-0.1	0	-0.4	0.7	1.6	0.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-17%	12%	3%	-5%
Operating Profit CAGR	7%	2%	5%	1%
PAT CAGR	100%	0%	43%	20%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	110%	28%	21%	16%
ROE Average	11%	5%	3%	4%
ROCE Average	9%	6%	4%	7%

WEP Solutions 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	30	31	30	31	42	46	50	51	40	53	58
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	2	1	0	0	0	0	4	5	5	2	0
Other Non-Current Liabilities	1	1	1	2	-0	-2	-2	-1	-2	-2	-4
Total Current Liabilities	50	35	41	34	23	25	21	22	24	22	18
Total Liabilities	83	67	71	67	65	69	72	77	68	75	72
Fixed Assets	13	24	23	24	31	33	31	32	26	26	27
Other Non-Current Assets	2	2	2	3	8	9	14	15	6	7	8
Total Current Assets	68	41	46	40	27	26	27	30	35	43	37
Total Assets	83	67	71	67	65	69	72	77	68	75	72

WEP Solutions 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	0	0	0	0	0	0	0	0	0	0	3
Cash Flow from Operating Activities	15	17	10	11	14	9	9	10	8	12	10
Cash Flow from Investing Activities	-6	-18	-7	-9	-15	-14	-14	-10	-5	-9	-7
Cash Flow from Financing Activities	-9	0	-3	-2	0	5	5	-0	-3	0	-5
Net Cash Inflow / Outflow	-0	-0	0	0	-0	-0	0	-0	0	3	-3
Closing Cash & Cash Equivalent	0	0	0	0	0	0	0	0	1	3	0

WEP Solutions 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)	0.83	0.76	0.57	0.38	0.32	0.46	-0.06	0.01	-0.42	0.72	1.61
CEPS(Rs)	6.54	3.39	2.93	2.63	2.9	3.57	3.36	4.04	3.76	3.23	4.19
DPS(Rs)	0	0.5	0.5	0	0	0	0	0	0	0.5	0.5
Book NAV/Share(Rs)	13.45	11.11	10.84	11.22	13.97	14.44	15.57	15.73	14.92	14.4	15.64
Core EBITDA Margin(%)	7.58	9.12	9.21	9.82	11.81	14.34	14.5	20.01	16.83	11.77	14.8
EBIT Margin(%)	2.99	3.99	3.71	3.58	3.32	3.72	1.19	2.14	0.47	4.37	6.13
Pre Tax Margin(%)	1.04	2.32	2.07	1.68	1.83	2.53	-0.26	0.1	-1.93	3.39	5.05
PAT Margin (%)	0.69	1.71	1.47	1.14	1.21	1.75	-0.26	0.07	-1.73	2.34	6.34
Cash Profit Margin (%)	5.5	7.68	7.49	7.83	10.88	13.49	14.29	19.44	15.35	10.56	16.52
ROA(%)	1.86	2.77	2.28	1.53	1.48	2.1	-0.27	0.06	-1.55	3.63	7.95
ROE(%)	6.32	8.55	5.22	3.46	2.66	3.27	-0.42	0.09	-2.51	5.67	10.72
ROCE(%)	13.89	11.73	9.5	7.83	5.97	5.97	1.56	2.32	0.52	8.61	9.45
Receivable days	46.85	70.64	61.04	68.42	61.28	56.54	62.54	70.82	73.94	43.32	57.93
Inventory Days	42.46	70.86	74.02	83.01	75.36	55.68	52.09	62.75	73.69	44.04	52.63
Payable days	94.18	247.78	204.75	414.67	378.39	269.18	257.15	244.47	137.83	30.99	35.07
PER(x)	9.55	7.71	19.64	48.17	136.99	72.17	0	868.79	0	30.12	11.33
Price/Book(x)	0.59	0.53	1.04	1.64	3.17	2.32	1.16	0.79	0.96	1.5	1.16
Dividend Yield(%)	0	7.14	3.7	0	0	0	0	0	0	2.32	2.75
EV/Net Sales(x)	0.14	0.24	0.41	0.71	1.76	1.37	0.89	0.77	0.79	0.68	0.74
EV/Core EBITDA(x)	1.64	2.34	4.04	6.6	13.13	8.8	5.64	3.56	4.49	5.43	4.51
Net Sales Growth(%)	308.56	-23.56	-10.26	-14.66	-12.68	2.05	-6.71	-11.17	-1.77	71.82	-16.78
EBIT Growth(%)	2378.55	1.32	-17.69	-17.29	-19.74	11.56	-70.42	60.05	-78.46	1502.38	16.52
PAT Growth(%)	252.8	87.28	-24.27	-33.39	-7.68	43.94	-113.72	123.51	-2568.58	332.52	125.44
EPS Growth(%)	252.81	-8.32	-24.27	-33.4	-15.33	43.69	-113.16	123.4	-3060.84	268.99	124.57
Debt/Equity(x)	0.55	0.4	0.38	0.4	0.09	0.18	0.18	0.23	0.35	0.1	0.06
Current Ratio(x)	1.36	1.19	1.13	1.17	1.16	1.07	1.31	1.37	1.47	1.97	2.07
Quick Ratio(x)	0.84	0.58	0.58	0.59	0.57	0.62	0.82	0.8	0.91	1.36	1.32
Interest Cover(x)	1.54	2.38	2.27	1.89	2.22	3.14	0.82	1.05	0.2	4.43	5.69
Total Debt/Mcap(x)	0.94	0.77	0.37	0.24	0.03	0.08	0.16	0.29	0.26	0.07	0.05

WEP Solutions Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	42.58	42.58	42.03	41.88	41.87	41.87	41.85	41.85	41.81	41.59
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	57.42	57.42	57.97	58.12	58.13	58.13	58.15	58.15	58.19	58.41
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	1.54	1.54	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	2.08	2.08	2.1	2.11	2.11	2.11	2.12	2.12	2.12	2.14
Others	0	0	0	0	0	0	0	0	0	0
Total	3.62	3.62	3.62	3.63	3.63	3.64	3.64	3.64	3.64	3.66

Pros

Company has delivered good profit growth of 43% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 41.59%.
Company has a low return on equity of 5% over the last 3 years.
Debtor days have increased from 30.99 to 35.07days.

* 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.