MACROTECH DEVELOPERS LIMITED Financials Macrotech Developers Limited
Equities
LODHA
INE670K01029
Real Estate Development & Operations
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,239 INR | +0.97% |
|
+3.62% | +21.01% |
| Apr. 26 | Jefferies Adjusts Macrotech Developers' Price Target to INR1,500 From INR1,380, Keeps at Buy | MT |
| Apr. 25 | Transcript : Macrotech Developers Limited, Q4 2024 Earnings Call, Apr 25, 2024 |
Valuation
| Fiscal Period: March | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Capitalization 1 | 542,272 | 448,208 | 1,231,733 | - | - |
| Enterprise Value (EV) 1 | 641,286 | 448,208 | 1,129,553 | 1,272,298 | 1,266,198 |
| P/E ratio | 42.9 x | 92.2 x | 71 x | 53.5 x | 37.7 x |
| Yield | - | 0.21% | 0.19% | 0.25% | 0.32% |
| Capitalization / Revenue | 5.87 x | 4.73 x | 10.9 x | 9.11 x | 7.71 x |
| EV / Revenue | 6.95 x | 4.73 x | 10.9 x | 9.41 x | 7.92 x |
| EV / EBITDA | 30.2 x | 21.7 x | 42.2 x | 34.3 x | 26.7 x |
| EV / FCF | 32.8 x | 16.8 x | 39.5 x | 44.8 x | 30.7 x |
| FCF Yield | 3.05% | 5.97% | 2.53% | 2.23% | 3.25% |
| Price to Book | 4.48 x | 7.06 x | 7.96 x | 5.97 x | 5.64 x |
| Nbr of stocks (in thousands) | 963,013 | 963,578 | 994,456 | - | - |
| Reference price 2 | 563.1 | 465.2 | 1,239 | 1,239 | 1,239 |
| Announcement Date | 4/26/22 | 4/22/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net sales 1 | 54,486 | 92,332 | 94,704 | 103,161 | 135,218 | 159,857 |
| EBITDA 1 | - | 21,247 | 20,661 | 26,757 | 37,113 | 47,501 |
| EBIT 1 | - | 20,499 | 19,733 | 24,718 | 34,635 | 44,254 |
| Operating Margin | - | 22.2% | 20.84% | 23.96% | 25.61% | 27.68% |
| Earnings before Tax (EBT) 1 | - | 17,165 | 4,524 | 20,276 | 33,610 | 43,522 |
| Net income 1 | - | 12,024 | 4,866 | 15,491 | 24,512 | 32,004 |
| Net margin | - | 13.02% | 5.14% | 15.02% | 18.13% | 20.02% |
| EPS 2 | - | 13.12 | 5.045 | 15.99 | 23.14 | 32.90 |
| Free Cash Flow 1 | - | 19,575 | 26,745 | 32,462 | 28,424 | 41,202 |
| FCF margin | - | 21.2% | 28.24% | 29.68% | 21.02% | 25.77% |
| FCF Conversion (EBITDA) | - | 92.13% | 129.44% | 115.08% | 76.59% | 86.74% |
| FCF Conversion (Net income) | - | 162.81% | 549.6% | 185.73% | 115.96% | 128.74% |
| Dividend per Share 2 | - | - | 1.000 | 2.293 | 3.124 | 3.996 |
| Announcement Date | 5/14/21 | 4/26/22 | 4/22/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,238 | 20,594 | 34,446 | 26,758 | 17,654 | 17,738 | 32,554 | 16,174 | 17,496 | 29,306 | 40,185 |
| EBITDA 1 | 3,918 | 4,858 | 8,712 | 4,667 | 4,240 | 4,038 | 7,717 | 3,300 | 4,161 | 8,760 | 10,469 |
| EBIT 1 | 3,734 | 4,671 | 8,522 | 4,471 | 4,021 | 3,821 | 7,420 | 3,060 | 3,868 | 8,427 | 9,296 |
| Operating Margin | 17.58% | 22.68% | 24.74% | 16.71% | 22.78% | 21.54% | 22.79% | 18.92% | 22.11% | 28.76% | 23.13% |
| Earnings before Tax (EBT) 1 | 2,950 | 3,995 | 8,023 | 3,271 | -9,060 | 3,931 | 6,382 | 2,363 | 2,692 | 6,491 | 8,785 |
| Net income 1 | 2,204 | 2,856 | 5,355 | 2,708 | -9,331 | 4,045 | 7,444 | 1,784 | 2,019 | 5,033 | 6,655 |
| Net margin | 10.38% | 13.87% | 15.55% | 10.12% | -52.85% | 22.81% | 22.87% | 11.03% | 11.54% | 17.17% | 16.56% |
| EPS 2 | 2.460 | 3.070 | 5.550 | 2.810 | -9.765 | 4.195 | 7.715 | 1.850 | 2.090 | 5.200 | 6.810 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/21/21 | 1/25/22 | 4/26/22 | 7/25/22 | 11/1/22 | 1/24/23 | 4/22/23 | 7/27/23 | 10/28/23 | 1/27/24 | 4/24/24 |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 99,013 | - | 49,264 | 40,564 | 34,465 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 4.66 x | - | 1.746 x | 1.093 x | 0.7255 x |
| Free Cash Flow 1 | - | 19,575 | 26,745 | 32,462 | 28,424 | 41,202 |
| ROE (net income / shareholders' equity) | - | 14.4% | - | 12.5% | 13.5% | 15.9% |
| ROA (Net income/ Total Assets) | - | 3.09% | - | 4.23% | 4.72% | 5.31% |
| Assets 1 | - | 388,934 | - | 413,476 | 519,318 | 603,274 |
| Book Value Per Share 2 | - | 126.0 | 65.90 | 156.0 | 207.0 | 220.0 |
| Cash Flow per Share 2 | - | 21.80 | 28.50 | 27.70 | 8.200 | 10.90 |
| Capex 1 | - | 330 | 755 | 2,844 | 6,598 | 3,893 |
| Capex / Sales | - | 0.36% | 0.8% | 2.6% | 4.88% | 2.44% |
| Announcement Date | 5/14/21 | 4/26/22 | 4/22/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
1,239
INR
Average target price
1,197
INR
Spread / Average Target
-3.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.01% | 14.76B | |
| +37.77% | 28.71B | |
| -13.85% | 26.95B | |
| +22.78% | 26.45B | |
| +1.61% | 25.94B | |
| +46.99% | 23.39B | |
| +5.96% | 20.4B | |
| -2.40% | 19.76B | |
| +28.59% | 16.53B | |
| -10.00% | 14.61B |
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