Man Infraconstruction (NSEI:MANINFRA) - Share price, News & Analysis

MANINFRA fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	6/6
Financial Health	5/6
Dividends	4/6

MANINFRA Stock Overview

Man Infraconstruction Limited engages in the civil construction business in India.

Rewards

Trading at 47% below our estimate of its fair value

Earnings grew by 575.8% over the past year

Risk Analysis

Unstable dividend track record

Man Infraconstruction Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Man Infraconstruction
Historical stock prices
Current Share Price	₹76.40
52 Week High	₹131.10
52 Week Low	₹38.07
Beta	0.75
1 Month Change	-12.59%
3 Month Change	-26.72%
1 Year Change	94.73%
3 Year Change	291.13%
5 Year Change	90.21%
Change since IPO	58.44%

Recent News & Updates

Jun 17

$We Think Man Infraconstruction (NSE:MANINFRA) Can Manage Its Debt With Ease$

We Think Man Infraconstruction (NSE:MANINFRA) Can Manage Its Debt With Ease

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

May 13

$Man Infraconstruction (NSE:MANINFRA) Might Have The Makings Of A Multi-Bagger$

Man Infraconstruction (NSE:MANINFRA) Might Have The Makings Of A Multi-Bagger

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...

Shareholder Returns

	MANINFRA	IN Construction	IN Market
7D	-1.2%	1.2%	2.3%
1Y	94.7%	-5.5%	-0.9%

Return vs Industry: MANINFRA exceeded the Indian Construction industry which returned -5.5% over the past year.

Return vs Market: MANINFRA exceeded the Indian Market which returned -0.9% over the past year.

Price Volatility

Is MANINFRA's price volatile compared to industry and market?
MANINFRA volatility
MANINFRA Average Weekly Movement	6.9%
Construction Industry Average Movement	7.1%
Market Average Movement	6.9%
10% most volatile stocks in IN Market	9.9%
10% least volatile stocks in IN Market	4.5%

Stable Share Price: MANINFRA is not significantly more volatile than the rest of Indian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MANINFRA's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2002	535	Suketu Shah	https://www.maninfra.com

Man Infraconstruction Limited engages in the civil construction business in India. Its port infrastructure services include the construction of onshore container terminals and freight stations; reclamation of land; consolidation of soil; and operational services, such as firefighting, sewerage, drainage systems, etc. The company is also involved in the construction of commercial and institutional projects comprising IT parks, office complexes, hotels, shopping malls, schools, hospitals, etc.; and roads, including earthwork and paving, electrification, landscaping, widening, upgradation, drainage, and others. In addition, it engages in the construction of residential projects, such as high-rise buildings, townships, luxury villas, and others; and industrial projects that include factories, cold storages, warehouse facilities, heavy engineering, manufacturing and processing units, etc. The company was formerly known as Man Construction Limited and changed its name to Man Infraconstruction Limited in November 2006.

Man Infraconstruction Fundamentals Summary

How do Man Infraconstruction's earnings and revenue compare to its market cap?
MANINFRA fundamental statistics
Market Cap	₹28.33b
Earnings (TTM)	₹2.16b
Revenue (TTM)	₹9.61b

13.1x

P/E Ratio

2.9x

P/S Ratio

Is MANINFRA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MANINFRA income statement (TTM)
Revenue	₹9.61b
Cost of Revenue	₹5.17b
Gross Profit	₹4.45b
Other Expenses	₹2.28b
Earnings	₹2.16b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	5.83
Gross Margin	46.26%
Net Profit Margin	22.50%
Debt/Equity Ratio	59.9%

How did MANINFRA perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

22%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is MANINFRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MANINFRA?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MANINFRA. This is calculated by dividing MANINFRA's market cap by their current preferred multiple.
What is MANINFRA's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₹28.33b

MANINFRA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.1x
Enterprise Value/EBITDA	12x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does MANINFRA's PE Ratio compare to its peers?

MANINFRA PE Ratio vs Peers

The above table shows the PE ratio for MANINFRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	13.8x

Forward PE

Price-To-Earnings vs Peers: MANINFRA is good value based on its Price-To-Earnings Ratio (13.1x) compared to the peer average (13.8x).

Price to Earnings Ratio vs Industry

How does MANINFRA's PE Ratio compare vs other companies in the Indian Construction Industry?

Price-To-Earnings vs Industry: MANINFRA is good value based on its Price-To-Earnings Ratio (13.1x) compared to the Indian Construction industry average (16.3x)

Price to Earnings Ratio vs Fair Ratio

What is MANINFRA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MANINFRA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MANINFRA's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of MANINFRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MANINFRA (₹76.4) is trading below our estimate of fair value (₹144.28)

Significantly Below Fair Value: MANINFRA is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MANINFRA's PEG Ratio to determine if it is good value.

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Future Growth

How is Man Infraconstruction forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

19.4%

Forecasted Capital Goods industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Man Infraconstruction has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Examine whether Man Infraconstruction is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
Man Infraconstruction competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Man Infraconstruction performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

24.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MANINFRA has high quality earnings.

Growing Profit Margin: MANINFRA's current net profit margins (22.5%) are higher than last year (7.5%).

Past Earnings Growth Analysis

Earnings Trend: MANINFRA's earnings have grown significantly by 24% per year over the past 5 years.

Accelerating Growth: MANINFRA's earnings growth over the past year (575.8%) exceeds its 5-year average (24% per year).

Earnings vs Industry: MANINFRA earnings growth over the past year (575.8%) exceeded the Construction industry 33.4%.

Return on Equity

High ROE: MANINFRA's Return on Equity (32.1%) is considered high.

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Financial Health

How is Man Infraconstruction's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: MANINFRA's short term assets (₹14.1B) exceed its short term liabilities (₹4.0B).

Long Term Liabilities: MANINFRA's short term assets (₹14.1B) exceed its long term liabilities (₹3.9B).

Debt to Equity History and Analysis

Debt Level: MANINFRA's net debt to equity ratio (6.5%) is considered satisfactory.

Reducing Debt: MANINFRA's debt to equity ratio has increased from 43.7% to 59.9% over the past 5 years.

Debt Coverage: MANINFRA's debt is well covered by operating cash flow (33.5%).

Interest Coverage: MANINFRA's interest payments on its debt are well covered by EBIT (3.9x coverage).

Balance Sheet

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Dividend

What is Man Infraconstruction current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.65%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MANINFRA's dividend (1.65%) is higher than the bottom 25% of dividend payers in the Indian market (0.43%).

High Dividend: MANINFRA's dividend (1.65%) is low compared to the top 25% of dividend payers in the Indian market (1.89%).

Stability and Growth of Payments

Stable Dividend: MANINFRA's dividend payments have been volatile in the past 10 years.

Growing Dividend: MANINFRA's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (21.6%), MANINFRA's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (25%), MANINFRA's dividend payments are well covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

8.3yrs

Average management tenure

CEO

Suketu Shah (50 yo)

2.75yrs

Tenure

₹16,363,000

Compensation

Mr. Suketu Ramesh Shah serves as Joint Managing Director at Man Infraconstruction Limited since September 11, 2019. He has been Whole Time Director of Man Infraconstruction Limited since April 4, 2004 and...

CEO Compensation Analysis

Compensation vs Market: Suketu's total compensation ($USD209.06K) is about average for companies of similar size in the Indian market ($USD260.99K).

Compensation vs Earnings: Suketu's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: MANINFRA's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Experienced Board: MANINFRA's board of directors are seasoned and experienced ( 11.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: MANINFRA insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31