Stock MERCANTILE6 MERCANTILE VENTURES LIMITED
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Financials Mercantile Ventures Limited

Equities

MERCANTILE6

INE689O01013

Real Estate Development & Operations

Delayed Bombay S.E.
Other stock markets
 02:40:18 14/05/2024 pm IST 		5-day change 1st Jan Change
22 INR +0.14% Intraday chart for Mercantile Ventures Limited -1.70% -5.13%
09/02 Mercantile Ventures Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023 CI
05/01 Mercantile Ventures Limited made an offer to acquire a 26% stake in India Radiators Limited for INR 1.4 million CI

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 1,170 557.4 388.4 1,448 2,003 1,835
Enterprise Value (EV) 1 1,199 506.2 260.2 1,219 1,936 1,814
P/E ratio 102 x 15.1 x 1.51 x 17.5 x 17.4 x 11.5 x
Yield - - - - - -
Capitalization / Revenue 3.9 x 1.62 x 1.02 x 3.88 x 5.41 x 3.89 x
EV / Revenue 4 x 1.47 x 0.68 x 3.27 x 5.23 x 3.85 x
EV / EBITDA 40.5 x 19.9 x 5.78 x 24.3 x 87.8 x 41.5 x
EV / FCF 3.12 x 291 x -5.53 x 30 x -4.36 x 5.24 x
FCF Yield 32% 0.34% -18.1% 3.34% -22.9% 19.1%
Price to Book 0.46 x 0.21 x 0.14 x 0.48 x 0.59 x 0.56 x
Nbr of stocks (in thousands) 1,11,918 1,11,918 1,11,918 1,11,918 1,11,918 1,11,918
Reference price 2 10.45 4.980 3.470 12.94 17.90 16.40
Announcement Date 01/08/18 07/07/19 28/08/20 28/08/21 26/08/22 04/09/23
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 299.5 344 382.4 373 370.4 471.5
EBITDA 1 29.59 25.4 44.98 50.17 22.05 43.69
EBIT 1 17.94 14.73 34.86 40.03 12.15 33.88
Operating Margin 5.99% 4.28% 9.12% 10.73% 3.28% 7.18%
Earnings before Tax (EBT) 1 62.28 52.33 181.2 123.6 213.6 187.1
Net income 1 11.41 37.08 257.9 113.3 115 159.4
Net margin 3.81% 10.78% 67.44% 30.38% 31.04% 33.81%
EPS 2 0.1020 0.3300 2.304 0.7400 1.027 1.424
Free Cash Flow 1 384.2 1.741 -47.02 40.68 -443.6 346.3
FCF margin 128.27% 0.51% -12.3% 10.91% -119.78% 73.45%
FCF Conversion (EBITDA) 1,298.44% 6.85% - 81.08% - 792.62%
FCF Conversion (Net income) 3,366.34% 4.69% - 35.9% - 217.23%
Dividend per Share - - - - - -
Announcement Date 01/08/18 07/07/19 28/08/20 28/08/21 26/08/22 04/09/23
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 29.4 - - - - -
Net Cash position 1 - 51.2 128 229 67.5 21.7
Leverage (Debt/EBITDA) 0.9924 x - - - - -
Free Cash Flow 1 384 1.74 -47 40.7 -444 346
ROE (net income / shareholders' equity) 0.45% 1.41% 7.77% 3.27% 5.11% 4.97%
ROA (Net income/ Total Assets) 0.41% 0.33% 0.76% 0.82% 0.22% 0.6%
Assets 1 2,760 11,177 33,868 13,804 51,607 26,744
Book Value Per Share 2 22.70 24.30 24.20 27.10 30.20 29.50
Cash Flow per Share 2 0.2600 0.4600 1.150 2.050 0.6000 0.5500
Capex 1 0.92 - 41.5 1.32 1.79 0.51
Capex / Sales 0.31% - 10.86% 0.35% 0.48% 0.11%
Announcement Date 01/08/18 07/07/19 28/08/20 28/08/21 26/08/22 04/09/23
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Real Estate Development & Operations

1st Jan change Capi.
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CK ASSET HOLDINGS LIMITED Stock CK Asset Holdings Limited
-10.20% 15.93B
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