Announcement • Jul 10
PSP Projects Limited to Report Q1, 2027 Results on Jul 30, 2026 PSP Projects Limited announced that they will report Q1, 2027 results on Jul 30, 2026 Reported Earnings • May 05
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: ₹14.00 (down from ₹14.32 in FY 2025). Revenue: ₹31.7b (up 26% from FY 2025). Net income: ₹555.2m (down 1.6% from FY 2025). Profit margin: 1.8% (down from 2.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Apr 30
PSP Projects Limited, Annual General Meeting, Jun 27, 2026 PSP Projects Limited, Annual General Meeting, Jun 27, 2026. Announcement • Apr 10
PSP Projects Limited to Report Q4, 2026 Results on Apr 30, 2026 PSP Projects Limited announced that they will report Q4, 2026 results at 9:08 AM, Indian Standard Time on Apr 30, 2026 Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: ₹4.53 (vs ₹1.28 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.53 (up from ₹1.28 in 3Q 2025). Revenue: ₹8.13b (up 29% from 3Q 2025). Net income: ₹178.3m (up 253% from 3Q 2025). Profit margin: 2.2% (up from 0.8% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jan 09
PSP Projects Limited to Report Q3, 2026 Results on Jan 30, 2026 PSP Projects Limited announced that they will report Q3, 2026 results on Jan 30, 2026 Reported Earnings • Oct 19
Second quarter 2026 earnings released: EPS: ₹4.10 (vs ₹2.60 in 2Q 2025) Second quarter 2026 results: EPS: ₹4.10 (up from ₹2.60 in 2Q 2025). Revenue: ₹7.03b (up 20% from 2Q 2025). Net income: ₹161.7m (up 58% from 2Q 2025). Profit margin: 2.3% (up from 1.7% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 10
PSP Projects Limited to Report Q2, 2026 Results on Oct 17, 2025 PSP Projects Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 17, 2025 New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Buy Or Sell Opportunity • Aug 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to ₹701. The fair value is estimated to be ₹570, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 72% in 2 years. Earnings are forecast to grow by 788% in the next 2 years. Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: ₹0.11 (vs ₹8.80 in 1Q 2025) First quarter 2026 results: EPS: ₹0.11 (down from ₹8.80 in 1Q 2025). Revenue: ₹5.22b (down 16% from 1Q 2025). Net income: ₹4.23m (down 99% from 1Q 2025). Profit margin: 0.1% (down from 5.6% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Jul 30
PSP Projects Limited, Annual General Meeting, Sep 27, 2025 PSP Projects Limited, Annual General Meeting, Sep 27, 2025. Announcement • Jul 24
PSP Projects Limited to Report Q1, 2026 Results on Jul 30, 2025 PSP Projects Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Price Target Changed • May 27
Price target decreased by 7.4% to ₹665 Down from ₹718, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of ₹640. Stock is down 1.0% over the past year. The company is forecast to post earnings per share of ₹33.83 for next year compared to ₹14.32 last year. Reported Earnings • May 24
Full year 2025 earnings released: EPS: ₹14.32 (vs ₹34.16 in FY 2024) Full year 2025 results: EPS: ₹14.32 (down from ₹34.16 in FY 2024). Revenue: ₹25.3b (flat on FY 2024). Net income: ₹564.2m (down 54% from FY 2024). Profit margin: 2.2% (down from 4.9% in FY 2024). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 16
PSP Projects Limited to Report Q4, 2025 Results on May 23, 2025 PSP Projects Limited announced that they will report Q4, 2025 results on May 23, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹1.28 (vs ₹8.63 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.28 (down from ₹8.63 in 3Q 2024). Revenue: ₹6.34b (down 10.0% from 3Q 2024). Net income: ₹50.5m (down 84% from 3Q 2024). Profit margin: 0.8% (down from 4.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jan 31
PSP Projects Limited to Report Q3, 2025 Results on Feb 07, 2025 PSP Projects Limited announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: ₹2.60 (vs ₹10.70 in 2Q 2024) Second quarter 2025 results: EPS: ₹2.60 (down from ₹10.70 in 2Q 2024). Revenue: ₹5.91b (down 4.7% from 2Q 2024). Net income: ₹102.2m (down 74% from 2Q 2024). Profit margin: 1.7% (down from 6.2% in 2Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Oct 11
PSP Projects Limited to Report Q2, 2025 Results on Oct 25, 2024 PSP Projects Limited announced that they will report Q2, 2025 results on Oct 25, 2024 Announcement • Sep 20
PSP Projects Limited Appoints Swati Mehta as Non-Executive Independent Director PSP Projects Limited at its AGM held on September 18, 2024 approved appointment of Mrs. Swati Mehta as Non-Executive Independent Director of the Company. Appointment to be effective from August 2, 2024 for a term of 5 consecutive years. Mrs. Swati Mehta is a Ph.D. in Management from S.P. University, Gujarat. She also holds degree of MBA in Finance Management and BBA in Finance Management from S.P. University, Gujarat. She is a Promoter Director of Chinmay Raj Biotech Private Limited wherein she is looking after operations, finance marketing, export and overall business management. Chinmay Raj Biotech Private Limited is involved in the business of manufacturing of Fertilizers and allied products. She is also a Designated Partner of Ceramig Minerals LLP which is involved in the business of Mining and Quarrying. Moreover, she is a visiting faculty at various prominent Post Graduate Management Institutes such as Nirma Institute of Management, B K School of Management, G H Patel Institute of Post Graduate Management. She is also working as a consultant and mentor for various small businesses in India. Board Change • Aug 09
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Achala Patel was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 03
First quarter 2025 earnings released: EPS: ₹8.80 (vs ₹10.51 in 1Q 2024) First quarter 2025 results: EPS: ₹8.80 (down from ₹10.51 in 1Q 2024). Revenue: ₹6.23b (up 21% from 1Q 2024). Net income: ₹346.8m (down 8.4% from 1Q 2024). Profit margin: 5.6% (down from 7.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Jul 26
PSP Projects Limited to Report Q1, 2025 Results on Aug 02, 2024 PSP Projects Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Price Target Changed • May 28
Price target decreased by 14% to ₹781 Down from ₹908, the current price target is an average from 7 analysts. New target price is 21% above last closing price of ₹646. Stock is down 9.0% over the past year. The company is forecast to post earnings per share of ₹42.88 for next year compared to ₹36.65 last year. Announcement • May 25
PSP Projects Limited Announces Cessation of Parag Prabhu Selote to Be Senior Management Personnel PSP Projects Limited announced the cessation of Mr. Parag Prabhu selote to be SMP due to Resignation, effective from May 23, 2024. Announcement • May 18
PSP Projects Limited to Report Q4, 2024 Results on May 24, 2024 PSP Projects Limited announced that they will report Q4, 2024 results on May 24, 2024 Announcement • May 11
PSP Projects Limited Provides Details of Litigation PSP Projects Limited provided details of litigation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to disclosure bearing Ref No: PSPPROJECT/SE/92/23-24 dated March 21, 2024, in the matter of PSP Projects Limited ("the Company"/"PSP") versus Surat Diamond Bourse ("SDB"), in the First Appeal No. 1309 of 2024 ("Appeal"), the Hon'ble High Court of Gujarat has orally pronounced its order on May 9, 2024. In the matter of First Appeal No. 1309 of 2024 ("Appeal") before the Hon'ble High Court of Gujarat at Ahmedabad filed by Surat Diamond Bourse ("SDB") under Section 37 of the Arbitration and Conciliation Act, 1996, challenging the judgement & order passed by the Hon'ble Special Commercial Judge & 5th Additional District Judge, Surat on March 11, 2024 in the Commercial Civil Misc. Application No. 39 of 2023, the Hon'ble High Court of Gujarat has at its hearing held on May 9, 2024 orally pronounced its judgement/order in which it has quashed and set aside the order passed by the Hon'ble Special Commercial Judge & 5th Additional District Judge, Surat on March 11, 2024. New Risk • Apr 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (46% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (10% increase in shares outstanding). Announcement • Apr 27
PSP Projects Limited has completed a Follow-on Equity Offering in the amount of INR 2.44 billion. PSP Projects Limited has completed a Follow-on Equity Offering in the amount of INR 2.44 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 3,641,791
Price\Range: INR 670
Transaction Features: Regulation S; Subsequent Direct Listing Reported Earnings • Apr 25
Third quarter 2024 earnings released: EPS: ₹8.63 (vs ₹9.82 in 3Q 2023) Third quarter 2024 results: EPS: ₹8.63 (down from ₹9.82 in 3Q 2023). Revenue: ₹7.05b (up 41% from 3Q 2023). Net income: ₹310.8m (down 12% from 3Q 2023). Profit margin: 4.4% (down from 7.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Announcement • Apr 24
PSP Projects Limited has filed a Follow-on Equity Offering. PSP Projects Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Price(minimum): INR 682.59
Transaction Features: Regulation S; Subsequent Direct Listing Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₹8.63 (vs ₹9.82 in 3Q 2023) Third quarter 2024 results: EPS: ₹8.63 (down from ₹9.82 in 3Q 2023). Revenue: ₹7.11b (up 42% from 3Q 2023). Net income: ₹310.8m (down 12% from 3Q 2023). Profit margin: 4.4% (down from 7.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Announcement • Feb 06
PSP Projects Limited to Report Q3, 2024 Results on Feb 09, 2024 PSP Projects Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Price Target Changed • Nov 08
Price target increased by 7.7% to ₹894 Up from ₹830, the current price target is an average from 6 analysts. New target price is 15% above last closing price of ₹777. Stock is up 25% over the past year. The company is forecast to post earnings per share of ₹50.35 for next year compared to ₹36.65 last year. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹10.70 (vs ₹5.98 in 2Q 2023) Second quarter 2024 results: EPS: ₹10.70 (up from ₹5.98 in 2Q 2023). Revenue: ₹6.26b (up 74% from 2Q 2023). Net income: ₹385.2m (up 79% from 2Q 2023). Profit margin: 6.2% (up from 6.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 28
PSP Projects Limited to Report Q2, 2024 Results on Nov 02, 2023 PSP Projects Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Announcement • Sep 13
PSP Projects Limited Approves Final Dividend for the Financial Year Ended March 31, 2023 PSP Projects Limited at its AGM held on September 09, 2023, approved to declare a Final Dividend of INR 2.5/- per fully paid equity share for the financial year ended March 31, 2023. Upcoming Dividend • Aug 25
Upcoming dividend of ₹2.50 per share at 0.3% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 6.8% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.9%). Announcement • Aug 12
PSP Projects Limited, Annual General Meeting, Sep 09, 2023 PSP Projects Limited, Annual General Meeting, Sep 09, 2023, at 11:00 Indian Standard Time. New Risk • Jul 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.7% Last year net profit margin: 9.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: ₹10.51 (vs ₹8.07 in 1Q 2023) First quarter 2024 results: EPS: ₹10.51 (up from ₹8.07 in 1Q 2023). Revenue: ₹5.19b (up 49% from 1Q 2023). Net income: ₹378.5m (up 30% from 1Q 2023). Profit margin: 7.3% (down from 8.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Recent Insider Transactions • May 26
Chairman recently bought ₹35m worth of stock On the 22nd of May, Prahaladbhai Patel bought around 50k shares on-market at roughly ₹704 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹154m worth in shares. Announcement • May 19
PSP Projects Limited Recommends Final Dividend for the Financial Year Ended March 31, 2023 PSP Projects Limited at its board meeting held on May 18, 2023, recommended a final dividend Of INR 2.50 per equity share of the company for the financial year ended March 31, 2023, subject to the approval of the shareholders at the upcoming 15th Annual General Meeting of the company. Reported Earnings • May 19
Full year 2023 earnings released: EPS: ₹36.65 (vs ₹46.29 in FY 2022) Full year 2023 results: EPS: ₹36.65 (down from ₹46.29 in FY 2022). Revenue: ₹19.6b (up 12% from FY 2022). Net income: ₹1.32b (down 21% from FY 2022). Profit margin: 6.7% (down from 9.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
PSP Projects Limited to Report Q4, 2023 Results on May 18, 2023 PSP Projects Limited announced that they will report Q4, 2023 results on May 18, 2023 Recent Insider Transactions • Apr 05
Insider recently sold ₹411m worth of stock On the 31st of March, Shilpaben Patel sold around 620k shares on-market at roughly ₹663 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹292m more than they bought in the last 12 months. Recent Insider Transactions • Feb 25
Chairman recently bought ₹14m worth of stock On the 21st of February, Prahaladbhai Patel bought around 20k shares on-market at roughly ₹682 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹122m worth in shares. Reported Earnings • Jan 19
Third quarter 2023 earnings released: EPS: ₹9.82 (vs ₹13.92 in 3Q 2022) Third quarter 2023 results: EPS: ₹9.82 (down from ₹13.92 in 3Q 2022). Revenue: ₹5.07b (up 4.3% from 3Q 2022). Net income: ₹353.6m (down 30% from 3Q 2022). Profit margin: 7.0% (down from 10% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 12
PSP Projects Limited to Report Q3, 2023 Results on Jan 18, 2023 PSP Projects Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Jan 18, 2023 Price Target Changed • Dec 19
Price target increased to ₹744 Up from ₹687, the current price target is an average from 5 analysts. New target price is 9.9% above last closing price of ₹677. Stock is up 50% over the past year. The company posted earnings per share of ₹46.29 last year. Recent Insider Transactions • Nov 10
Chairman recently bought ₹30m worth of stock On the 4th of November, Prahaladbhai Patel bought around 50k shares on-market at roughly ₹610 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹162m worth in shares. Recent Insider Transactions • Oct 29
Chairman recently bought ₹15m worth of stock On the 21st of October, Prahaladbhai Patel bought around 25k shares on-market at roughly ₹582 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹25m. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹131m worth in shares. Reported Earnings • Oct 19
Second quarter 2023 earnings released: EPS: ₹5.98 (vs ₹10.11 in 2Q 2022) Second quarter 2023 results: EPS: ₹5.98 (down from ₹10.11 in 2Q 2022). Revenue: ₹3.60b (down 7.8% from 2Q 2022). Net income: ₹215.5m (down 41% from 2Q 2022). Profit margin: 6.0% (down from 9.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 12
PSP Projects Limited to Report Q2, 2023 Results on Oct 18, 2022 PSP Projects Limited announced that they will report Q2, 2023 results at 3:30 PM, Indian Standard Time on Oct 18, 2022 Recent Insider Transactions • Oct 01
Chairman recently bought ₹25m worth of stock On the 27th of September, Prahaladbhai Patel bought around 40k shares on-market at roughly ₹624 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹94m worth in shares. Upcoming Dividend • Sep 12
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 27 October 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (1.2%). Announcement • Sep 07
PSP Projects Limited, Annual General Meeting, Sep 27, 2022 PSP Projects Limited, Annual General Meeting, Sep 27, 2022, at 11:00 Indian Standard Time. Agenda: To consider the Audited Standalone and consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of the Board of Directors and the Auditors thereon; to declare a Final Dividend of INR 5/- per fully paid equity share for the financial year ended March 31, 2022; to appoint a director in place of Mr. Prahaladbhai S. Patel who retires by rotation and being eligible, offers himself for re-appointment; and to consider other matter. Reported Earnings • Aug 10
First quarter 2023 earnings released: EPS: ₹8.07 (vs ₹6.92 in 1Q 2022) First quarter 2023 results: EPS: ₹8.07 (up from ₹6.92 in 1Q 2022). Revenue: ₹3.48b (up 9.7% from 1Q 2022). Net income: ₹290.4m (up 17% from 1Q 2022). Profit margin: 8.3% (up from 7.8% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
PSP Projects Limited to Report Q1, 2023 Results on Aug 09, 2022 PSP Projects Limited announced that they will report Q1, 2023 results on Aug 09, 2022 Announcement • Jul 15
PSP Projects Limited Appoints Achala Monal Patel as Additional Non-Executive Independent Director PSP Projects Limited announced that pursuant to recommendation of Nomination and Remuneration Committee, the board of directors have appointed Mrs. Achala Monal Patel (DIN: 00914990) as an Additional Non-Executive Independent Director of the Company w.e.f. July 14, 2022. Mrs. Achala Monal Patel is a Post Graduate and M.Phil from school of languages, Gujarat University. She has completed her graduation from St. Xaviers Arts College, Ahmedabad. She is Gold Medalist and 1st Rank holder at University level at both her Graduation and Post-Graduation levels. Mrs. Achala Monal Patel is a founder and Designated Partner of MAP Power LLP and Chopper Worx Construction LLP. She is actively involved in the business of high voltage power transmission representing few European companies in India and in few neighboring countries since more than 16 years. Moreover, she has also worked as lecturer at Ahmedabad Arts and Commerce College from 1991 to 2012. During the same period, she was also taking lectures of post Graduate Students at Bhavan's College, Ahmedabad. Board Change • Jul 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Sandeepbhai Shah was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jun 29
Chairman recently bought ₹8.5m worth of stock On the 24th of June, Prahaladbhai Patel bought around 16k shares on-market at roughly ₹518 per share. This was the largest purchase by an insider in the last 3 months. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹64m worth in shares. Announcement • Jun 25
PSP Projects Limited Announces Demise of Zarana P. Patel, Non-Executive Independent Director PSP Projects Limited announces the sudden demise of Mrs. Zarana P. Patel, Non-Executive Independent Director of the Company on the evening of June 23, 2022. Price Target Changed • May 30
Price target decreased to ₹670 Down from ₹726, the current price target is provided by 1 analyst. New target price is 32% above last closing price of ₹506. Stock is up 26% over the past year. The company posted earnings per share of ₹46.29 last year. Announcement • May 28
PSP Projects Limited Recommends Final Dividend for the Financial Year Ended March 31, 2022 The board of directors of PSP Projects Limited at their meeting held on May 27, 2022, Recommended a final dividend of INR 5.00 per equity share of the company for the financial year ended March 31, 2022, subject to the approval of the shareholders at the ensuing 14th Annual General Meeting of the company. Reported Earnings • May 28
Full year 2022 earnings released: EPS: ₹46.29 (vs ₹22.65 in FY 2021) Full year 2022 results: EPS: ₹46.29 (up from ₹22.65 in FY 2021). Revenue: ₹17.7b (up 43% from FY 2021). Net income: ₹1.67b (up 104% from FY 2021). Profit margin: 9.4% (up from 6.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 20
PSP Projects Limited to Report Q4, 2022 Results on May 27, 2022 PSP Projects Limited announced that they will report Q4, 2022 results on May 27, 2022 Price Target Changed • Apr 27
Price target increased to ₹726 Up from ₹611, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₹547. Stock is up 32% over the past year. The company posted earnings per share of ₹22.65 last year. Announcement • Apr 01
PSP Projects Limited Announces Resignation of Chirag N. Shah as Independent Director PSP Projects Limited announced Mr. Chirag N. Shah, Independent Director of the Company has resigned from the board of the Company from the close of business hours of March 31, 2022 due to his other professional and personal commitments. Recent Insider Transactions • Feb 28
Chairman recently bought ₹4.8m worth of stock On the 24th of February, Prahaladbhai Patel bought around 10k shares on-market at roughly ₹482 per share. In the last 3 months, they made an even bigger purchase worth ₹24m. Prahaladbhai has been a buyer over the last 12 months, purchasing a net total of ₹54m worth in shares. Recent Insider Transactions • Feb 04
Senior Vice President of Operations recently sold ₹3.6m worth of stock On the 31st of January, Mahesh Patel sold around 6k shares on-market at roughly ₹607 per share. This was the largest sale by an insider in the last 3 months. This was Mahesh's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improved over the past week After last week's 19% share price gain to ₹613, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 64% over the past three years. Price Target Changed • Jan 30
Price target increased to ₹726 Up from ₹611, the current price target is provided by 1 analyst. New target price is 26% above last closing price of ₹576. Stock is up 39% over the past year. The company posted earnings per share of ₹22.65 last year. Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ₹13.92 (up from ₹8.11 in 3Q 2021). Revenue: ₹4.95b (up 27% from 3Q 2021). Net income: ₹501.3m (up 72% from 3Q 2021). Profit margin: 10% (up from 7.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Announcement • Dec 24
PSP Fremont LLC acquired PSP Projects Inc from PSP Projects Limited (BSE:540544) for $0.01 million. PSP Fremont LLC acquired PSP Projects Inc from PSP Projects Limited (BSE:540544) for $0.01 million on December 23, 2021. As on December 31, 2020, PSP Projects Inc reported total revenue of $.258 million and net liability of $0.43 million.
PSP Fremont LLC completed the acquisition of PSP Projects Inc from PSP Projects Limited (BSE:540544) on December 23, 2021. Recent Insider Transactions • Dec 07
Chairman recently bought ₹24m worth of stock On the 3rd of December, Prahaladbhai Patel bought around 50k shares on-market at roughly ₹487 per share. This was the largest purchase by an insider in the last 3 months. This was Prahaladbhai's only on-market trade for the last 12 months. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS ₹10.11 (vs ₹3.91 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹3.90b (up 61% from 2Q 2021). Net income: ₹363.9m (up 159% from 2Q 2021). Profit margin: 9.3% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Price Target Changed • Oct 28
Price target increased to ₹606 Up from ₹539, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₹512. Stock is up 32% over the past year. The company posted earnings per share of ₹22.65 last year. Recent Insider Transactions • Sep 30
Insider recently sold ₹655m worth of stock On the 27th of September, Shilpaben Patel sold around 2m shares on-market at roughly ₹423 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹652m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 18% share price gain to ₹500, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 18x in the Construction industry in India. Total returns to shareholders of 21% over the past three years. Upcoming Dividend • Sep 01
Upcoming dividend of ₹4.00 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 18 October 2021. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.1%). Reported Earnings • Jul 20
First quarter 2022 earnings released: EPS ₹6.92 (vs ₹0.96 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹3.17b (up 197% from 1Q 2021). Net income: ₹249.1m (up ₹283.5m from 1Q 2021). Profit margin: 7.8% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS ₹22.65 (vs ₹35.69 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹12.4b (down 17% from FY 2020). Net income: ₹815.3m (down 37% from FY 2020). Profit margin: 6.6% (down from 8.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 11
Price target raised to ₹561 Up from ₹511, the current price target is provided by 1 analyst. The new target price is 16% above the current share price of ₹483. As of last close, the stock is up 9.1% over the past year. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₹502, the stock is trading at a trailing P/E ratio of 24.5x, up from the previous P/E ratio of 20.7x. This compares to an average P/E of 17x in the Construction industry in India. Total returns to shareholders over the past three years were flat. Announcement • Feb 05
PSP Projects Limited Provides Update on Receipt of New Projects PSP Projects Limited announced that it has received an additional work order worth INR 2,360 million (Including GST) for an Institutional project at Gujarat. Further announced that the company has been ranked the Ll bidder (Lowest Bidder) by a regulatory authority for projects totalling to INR 4,208.9 million (including GST) for construction of medical colleges at multiple locations at Uttar Pradesh. Is New 90 Day High Low • Feb 04
New 90-day high: ₹447 The company is up 13% from its price of ₹394 on 06 November 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 49% over the same period. Reported Earnings • Jan 28
Third quarter 2021 earnings released: EPS ₹8.11 (vs ₹10.15 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹3.90b (down 7.8% from 3Q 2020). Net income: ₹291.7m (down 20% from 3Q 2020). Profit margin: 7.5% (down from 8.6% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jan 20
PSP Projects Limited to Report Q3, 2021 Results on Jan 27, 2021 PSP Projects Limited announced that they will report Q3, 2021 results on Jan 27, 2021 Is New 90 Day High Low • Jan 11
New 90-day high: ₹432 The company is up 11% from its price of ₹391 on 13 October 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 42% over the same period. Announcement • Jan 08
PSP Projects Limited (BSE:540544) agreed to acquire remaining 26% stake in PSP Projects and Proactive Constructions Private Limited for INR 0.13 million. PSP Projects Limited (BSE:540544) agreed to acquire remaining 26% stake in PSP Projects and Proactive Constructions Private Limited for INR 0.13 million on January 7, 2021. PSP Projects Limited (BSE:540544) will acquire remaining1.3 million shares of PSP Projects and Proactive Constructions Private Limited . On March 31, 2020 the revenue of INR 0.09 million net loss of INR 6.4 million. The deal will be completed before January 31, 2021.