Hazoor Multi Projects Ltd (532467) closes at ₹ 257.85 with a Gain of +5.00 % on
on 08-December-2023 with formation of a Star Candle
on Daily Price Chart.
About the Company : Incorporated in 1992, Hazoor Multi
Projects Limited is engaged in the business of Infrastructure and Real Estate.
n FY21, company changed its line of business and is now mainly engaged in
infrastructural development and works as a sub-contractor in executing various
national highway road projects awarded by government authorities such as
Maharashtra State Road Development Corporation Ltd and National Highways
Authority of India. Apart from this, company has also started the EPC
contracting business.
Sector Update
: Positive
Trendlyne Checklist Score : 69.90% Passed
Financials : Hazoor Multi Projects Ltd has posted
Net Sales / Revenue of ₹113.00
Cr & Net Profit of ₹2.00 Cr
in FY2022, Net Sales / Revenue of ₹776.00
Cr & Net Profit of ₹46.00 Cr
in FY2023 and expected to post Net Sales / Revenue of ₹658.00 Cr &
Net Profit of ₹64.00 Cr in FY2024 .
Valuations :
The Company is now Trading at X 0.60 of
its valuations
of FY2023 earnings with ~40 % and at X0.44 of its FY2024 earnings
with ~56% Discount.
EPS will improve from ₹ 46 in
FY2023 to ₹ 64 in FY2024.Net Margin has improved from 2.21 5 in FY 2022 to
5.88 in FY2023, Free Cash Flow from ₹ 17.20 Cr to ₹ 81.60 Cr
, Net Debt from ₹11.10 Cr to ₹15.40 ₹, Rod improved from 10.5% to 85.90%, RoA from 4.75 to 24% during the same
period.
In November 2023, Hazoor Multi Projects bagged
orders worth Rs 11.3 billion (bn) to upgrade and rehabilitate a section of
NH-66 in Ratnagiri. The work was given to Hazoor Infra Projects (a wholly owned
subsidiary company). The estimated value of the project is Rs 11.3 bn
divided with annuities at Rs 5.2 bn, interest on annuities at Rs 4.6 bn, and
operation and maintenance costs at Rs 1.4 bn.
Company is Growing +13.00 % and it’s Payback Ratio ( Prefer < 1 : MultiBagger Finder ) is 0.8, as per our
valuations.
Early Trend : Infrastructure booms (Rail/road/Housing etc
will create moat for it )
MF/FII
: Mutual Fund – 0%. FII – 5.90%Margin of Safety (1Yr Bond Yield: Value>1 ) is
now 1.80 which makes is attractive.The Equity
Value Per Share ( Enterprise Value Method ) is ₹254.90
If We factor its FY2024 earnings/valuations, its
Price arrives at ₹590.00
Disclaimer : We are / may going to take exposure
shortly.
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