IVRCL Limited (IVRCLINFRA) : Company Profile and SWOT Analysis by WMIntelligence

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									IVRCL Limited

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IVRCL Limited                                                                      Financial Snapshot

                                                                                   Operating Performance
Fast Facts
                                                                                   The company reported revenue of US$1,492.12
Headquarters Address                      M-22/3RT, Hyderabad, 500 057,India
                                                                                   million during the fiscal year 2011 (2011). The
                                                                                   company's revenue grew at a CAGR of 25.26%
Telephone                                 + 91 40 23348467
                                                                                   during 2007–2011, with an annual growth of 17.13%
                                                                                   over 2010. In 2011, the company recorded an
Fax                                       + 91 40 23345004                         operating margin of 2.09%, as against 6.46% in 2010.

Website                                   www.ivrcl.com
                                                                                   Revenue and Margins
Ticker Symbol, Stock Exchange             530773, Bombay Stock Exchange

Number of Employees                       898

Fiscal Year End                           March

Revenue (in US$ million)                  1,492.12

Revenue (in INR million)                  68,548.13




SWOT Analysis                                                                      Return on Equity

Strengths                                 Weaknesses                               The company recorded a return on equity (ROE) of
                                                                                   1.85% for 2011, as compared to its peers, Gammon
Strategic partnerships                    CBI enquiry                              India Limited (Ticker: GAMMONIND), Punj Lloyd
                                                                                   Limited (Ticker: 532693) and Hindustan Construction
                                                                                   Co. Ltd. (Ticker: HCC), which recorded ROEs of
Strong order backlog                      Weak balance sheet position              5.31%, -1.72% and -4.28% respectively. The
                                                                                   company reported an operating margin of 2.09% in
Wide range of end user markets            Weak operating performance               2011.


Opportunities                             Threats                                  Return on Equity

Government expenditure on irrigation      Highly competitive infrastructure
projects                                  market
Growth potential for water industry in    Impact of construction material prices
India                                     on project
Positive outlook of real estate market in
                                          Rising interest rates
India

Railway expansion initiatives in India

Road development projects in India




                                                                                   Liquidity Position

                                                                                   The company reported a current ratio of 2.06 in 2011,
                                                                                   as compared to its peers, Gammon India Limited,
                                                                                   Punj Lloyd Limited and Hindustan Construction Co.
                                                                                   Ltd., which recorded current ratios of 1.76, 2.10 and
                                                                                   2.18 respectively. As of March 2011, the company
                                                                                   recorded cash and short-term investments of worth
                                                                                   US$53.92 million, against zero current debt. The
                                                                                   company reported a debt to equity ratio of 1.58 in
                                                                                   2011 as compared to its peers, Gammon India
                                                                                   Limited, Punj Lloyd Limited and Hindustan
                                                                                   Construction Co. Ltd., which recorded debt to equity
                                                                                   ratios of 3.19, 1.53 and 6.18 respectively.




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IVRCL Limited - SWOT Profile                                                                                              Page 1
IVRCL Limited

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................7
2     Analysis of Key Performance Indicators ............................................................................................... 8
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................8
    2.2       Key Financial Performance Indicators .................................................................................................................11
      2.2.1       Revenue and Operating Profit .........................................................................................................................11
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................12
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................13
      2.2.4       Operational Efficiency ......................................................................................................................................14
      2.2.5       Solvency ..........................................................................................................................................................15
    2.3       Competitive Benchmarking ..................................................................................................................................16
      2.3.1       Efficiency ..........................................................................................................................................................16
      2.3.2       Capital Expenditure ..........................................................................................................................................17
      2.3.3       Turnover – Inventory and Asset .......................................................................................................................18
      2.3.4       Liquidity ............................................................................................................................................................19
3     Recent Developments ........................................................................................................................... 20
4     SWOT Analysis ...................................................................................................................................... 22
    4.1       SWOT Analysis - Overview ..................................................................................................................................22
    4.2       Strengths ..............................................................................................................................................................22
    4.3       Weaknesses .........................................................................................................................................................22
    4.4       Opportunities ........................................................................................................................................................23
    4.5       Threats .................................................................................................................................................................24
5     Company Statement .............................................................................................................................. 25
6     History .................................................................................................................................................... 26
7     Key Employees ...................................................................................................................................... 27
8     Key Employee Biographies................................................................................................................... 28
9     Locations and Subsidiaries .................................................................................................................. 29
    9.1       Head Office ..........................................................................................................................................................29
    9.2       Other Locations and Subsidiaries ........................................................................................................................29
10    Appendix ................................................................................................................................................ 32
    10.1      Methodology .........................................................................................................................................................32
    10.2      Ratio Definitions ...................................................................................................................................................32
    10.3      Disclaimer..............................................
								
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