SUYOG TELEMATICS LIMITED

Financials Suyog Telematics Limited

Equities

SUYOG6

INE442P01014

Construction & Engineering

Market Closed - Bombay S.E. Other stock markets 06:00:56 2024-05-07 am EDT			5-day change	1st Jan Change
1,155 ^INR	-4.48%		-8.77%	+17.79%

Apr. 12	Suyog Telematics Limited announced that it expects to receive INR 150.3375 million in funding	CI
Feb. 12	Suyog Telematics Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI

Valuation

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Capitalization ¹	3,666	2,589	3,394	4,202	4,279	3,593
Enterprise Value (EV) ¹	4,265	3,144	3,765	5,107	5,423	5,152
P/E ratio	19.8 x	9.04 x	10.3 x	17.2 x	10.3 x	7.76 x
Yield	0.28%	1%	0.15%	-	0.24%	0.15%
Capitalization / Revenue	4.33 x	2.46 x	2.77 x	3.19 x	2.76 x	2.5 x
EV / Revenue	5.04 x	2.98 x	3.08 x	3.88 x	3.49 x	3.59 x
EV / EBITDA	12.7 x	6.02 x	6.77 x	8.71 x	6.8 x	6.31 x
EV / FCF	-72.1 x	-303 x	25.7 x	-80.4 x	-13.5 x	-10.2 x
FCF Yield	-1.39%	-0.33%	3.89%	-1.24%	-7.39%	-9.83%
Price to Book	5.26 x	2.66 x	2.67 x	2.93 x	2.27 x	1.53 x
Nbr of stocks (in thousands)	10,154	10,154	10,154	10,154	10,482	10,482
Reference price ²	361.0	255.0	334.2	413.8	408.2	342.8
Announcement Date	9/1/18	9/4/19	9/7/20	9/3/21	9/4/22	8/18/23

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Net sales ¹	846.1	1,053	1,223	1,318	1,552	1,436
EBITDA ¹	336.1	522.4	556.5	586.4	797	816.4
EBIT ¹	291.9	465	484.3	498.9	681.5	664.1
Operating Margin	34.5%	44.14%	39.59%	37.85%	43.91%	46.23%
Earnings before Tax (EBT) ¹	239.3	417.9	434.3	422.3	567.3	590
Net income ¹	184.8	286.4	330.3	244	413.8	463.1
Net margin	21.84%	27.19%	27%	18.51%	26.66%	32.24%
EPS ²	18.20	28.20	32.53	24.03	39.48	44.18
Free Cash Flow ¹	-59.13	-10.37	146.4	-63.51	-400.7	-506.6
FCF margin	-6.99%	-0.98%	11.97%	-4.82%	-25.82%	-35.27%
FCF Conversion (EBITDA)	-	-	26.31%	-	-	-
FCF Conversion (Net income)	-	-	44.33%	-	-	-
Dividend per Share ²	1.020	2.540	0.5100	-	1.000	0.5000
Announcement Date	9/1/18	9/4/19	9/7/20	9/3/21	9/4/22	8/18/23

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Net Debt ¹	599	554	371	905	1,144	1,559
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.783 x	1.061 x	0.667 x	1.544 x	1.435 x	1.91 x
Free Cash Flow ¹	-59.1	-10.4	146	-63.5	-401	-507
ROE (net income / shareholders' equity)	30.5%	34.3%	29.4%	18%	24.9%	21.9%
ROA (Net income/ Total Assets)	12.3%	16%	13.5%	11.2%	12.6%	9.88%
Assets ¹	1,508	1,792	2,449	2,185	3,276	4,689
Book Value Per Share ²	68.60	96.00	125.0	141.0	180.0	223.0
Cash Flow per Share ²	1.110	2.260	6.300	2.890	3.080	2.070
Capex ¹	239	268	347	453	745	1,008
Capex / Sales	28.21%	25.47%	28.37%	34.39%	48.03%	70.16%
Announcement Date	9/1/18	9/4/19	9/7/20	9/3/21	9/4/22	8/18/23

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Telecommunication Construction

	1st Jan change	Capi.
SUYOG TELEMATICS LIMITED	+17.79%	154M
CHINA TOWER CORPORATION LIMITED	+15.85%	20.72B
DYCOM INDUSTRIES, INC.	+28.00%	4.23B
CHINA COMMUNICATIONS SERVICES CORPORATION LIMITED	+14.81%	3.35B
COMSYS HOLDINGS CORPORATION	+17.46%	2.85B
CHINA BESTER GROUP TELECOM CO., LTD.	-5.83%	1.52B
HELIOS TOWERS PLC	+21.12%	1.4B
RUNJIAN CO., LTD.	-16.13%	1.35B
MIRAIT ONE CORPORATION	+3.95%	1.15B
SITIOS LATINOAMÉRICA, S.A.B. DE C.V.	-23.23%	1B

Telecommunication Construction

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SUYOG6 Stock
Financials Suyog Telematics Limited

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