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Sadbhav Infrastructure Project

NSEI:SADBHIN
Snowflake Description

Imperfect balance sheet with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SADBHIN
NSEI
₹20B
Market Cap
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Company description

Sadbhav Infrastructure Project Limited engages in the development, construction, operation, and maintenance of infrastructure projects, as well as provision of related consulting and advisory services in India. The last earnings update was 50 days ago. More info.


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  • Sadbhav Infrastructure Project has significant price volatility in the past 3 months.
SADBHIN Share Price and Events
7 Day Returns
-11.4%
NSEI:SADBHIN
2.4%
IN Infrastructure
-0.5%
IN Market
1 Year Returns
-50.8%
NSEI:SADBHIN
2.6%
IN Infrastructure
-1.8%
IN Market
SADBHIN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sadbhav Infrastructure Project (SADBHIN) -11.4% -28.9% -36.3% -50.8% -45.8% -
IN Infrastructure 2.4% -4.2% 0.4% 2.6% 38.7% 25.6%
IN Market -0.5% -2.7% -4.7% -1.8% 22.9% 34.2%
1 Year Return vs Industry and Market
  • SADBHIN underperformed the Infrastructure industry which returned 2.6% over the past year.
  • SADBHIN underperformed the Market in India which returned -1.8% over the past year.
Price Volatility
SADBHIN
Industry
5yr Volatility vs Market

Value

 Is Sadbhav Infrastructure Project undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sadbhav Infrastructure Project to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sadbhav Infrastructure Project.

NSEI:SADBHIN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 24.8%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:SADBHIN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.839 (1 + (1- 35%) (483.05%))
2.657
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (2 * 8.6%)
24.75%

Discounted Cash Flow Calculation for NSEI:SADBHIN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sadbhav Infrastructure Project is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:SADBHIN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 24.75%)
2020 -13,560.00 Analyst x1 -10,869.74
2021 4,203.00 Analyst x1 2,700.71
2022 4,297.27 Est @ 2.24% 2,213.46
2023 4,462.08 Est @ 3.84% 1,842.36
2024 4,682.93 Est @ 4.95% 1,549.94
2025 4,951.25 Est @ 5.73% 1,313.63
2026 5,261.98 Est @ 6.28% 1,119.09
2027 5,612.33 Est @ 6.66% 956.79
2028 6,001.02 Est @ 6.93% 820.09
2029 6,427.87 Est @ 7.11% 704.14
Present value of next 10 years cash flows ₹2,350.48
NSEI:SADBHIN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₹6,427.87 × (1 + 7.55%) ÷ (24.75% – 7.55%)
₹40,192.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹40,192.86 ÷ (1 + 24.75%)10
₹4,402.95
NSEI:SADBHIN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹2,350.48 + ₹4,402.95
₹6,753.42
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹6,753.42 / 352.23
₹19.17
NSEI:SADBHIN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:SADBHIN represents 0.98043x of BSE:539346
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98043x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 19.17 x 0.98043
₹18.80
Value per share (INR) From above. ₹18.80
Current discount Discount to share price of ₹55.10
= -1 x (₹55.10 - ₹18.80) / ₹18.80
-193.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Sadbhav Infrastructure Project is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sadbhav Infrastructure Project's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sadbhav Infrastructure Project's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:SADBHIN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹-6.97
BSE:539346 Share Price ** BSE (2019-07-16) in INR ₹56.2
India Infrastructure Industry PE Ratio Median Figure of 10 Publicly-Listed Infrastructure Companies 10.42x
India Market PE Ratio Median Figure of 2,834 Publicly-Listed Companies 14.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sadbhav Infrastructure Project.

NSEI:SADBHIN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:539346 Share Price ÷ EPS (both in INR)

= 56.2 ÷ -6.97

-8.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sadbhav Infrastructure Project is loss making, we can't compare its value to the IN Infrastructure industry average.
  • Sadbhav Infrastructure Project is loss making, we can't compare the value of its earnings to the India market.
Price based on expected Growth
Does Sadbhav Infrastructure Project's expected growth come at a high price?
Raw Data
NSEI:SADBHIN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -8.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-4.4%per year
Asia Infrastructure Industry PEG Ratio Median Figure of 19 Publicly-Listed Infrastructure Companies 1.14x
India Market PEG Ratio Median Figure of 536 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sadbhav Infrastructure Project, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sadbhav Infrastructure Project's assets?
Raw Data
NSEI:SADBHIN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹-15.63
BSE:539346 Share Price * BSE (2019-07-16) in INR ₹56.2
India Infrastructure Industry PB Ratio Median Figure of 14 Publicly-Listed Infrastructure Companies 0.58x
India Market PB Ratio Median Figure of 3,668 Publicly-Listed Companies 0.95x
NSEI:SADBHIN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:539346 Share Price ÷ Book Value per Share (both in INR)

= 56.2 ÷ -15.63

-3.59x

* Primary Listing of Sadbhav Infrastructure Project.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sadbhav Infrastructure Project has negative assets, we can't compare the value of its assets to the IN Infrastructure industry average.
X
Value checks
We assess Sadbhav Infrastructure Project's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Infrastructure industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Infrastructure industry average (and greater than 0)? (1 check)
  5. Sadbhav Infrastructure Project has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Sadbhav Infrastructure Project expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sadbhav Infrastructure Project expected to grow at an attractive rate?
  • Unable to compare Sadbhav Infrastructure Project's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Sadbhav Infrastructure Project's earnings growth to the India market average as it is expected to be loss making during the next 1-3 years.
  • Sadbhav Infrastructure Project's revenues are expected to decrease over the next 1-3 years, this is below the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:SADBHIN Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:SADBHIN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -4.4%
NSEI:SADBHIN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -4.1%
India Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
Asia Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
India Market Earnings Growth Rate Market Cap Weighted Average 17%
India Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:SADBHIN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:SADBHIN Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 32,526 4,203 -2,655 1
2020-03-31 40,519 -13,860 -1,713 1
NSEI:SADBHIN Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 35,479 -2,453
2018-12-31 34,516 -2,444
2018-09-30 30,451 -2,562
2018-06-30 25,853 -2,786
2018-03-31 22,897 6,030 -3,290
2017-12-31 19,186 -3,427
2017-09-30 16,273 -3,692
2017-06-30 14,883 -3,798
2017-03-31 13,626 7,774 -3,531
2016-12-31 2,126 -1,881
2016-09-30 3,935 -2,612
2016-06-30 5,619 -2,617

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sadbhav Infrastructure Project is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Sadbhav Infrastructure Project's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:SADBHIN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Sadbhav Infrastructure Project Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SADBHIN Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 -7.50 -7.50 -7.50 1.00
2020-03-31 -4.90 -4.90 -4.90 1.00
NSEI:SADBHIN Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 -6.97
2018-12-31 -6.93
2018-09-30 -7.26
2018-06-30 -7.90
2018-03-31 -9.34
2017-12-31 -9.74
2017-09-30 -10.49
2017-06-30 -10.81
2017-03-31 -10.03
2016-12-31 -5.34
2016-09-30 -7.82
2016-06-30 -7.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Sadbhav Infrastructure Project will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Sadbhav Infrastructure Project's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sadbhav Infrastructure Project has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Sadbhav Infrastructure Project performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sadbhav Infrastructure Project's growth in the last year to its industry (Infrastructure).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sadbhav Infrastructure Project does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Sadbhav Infrastructure Project's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Sadbhav Infrastructure Project's 1-year growth to the IN Infrastructure industry average as it is not currently profitable.
Earnings and Revenue History
Sadbhav Infrastructure Project's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sadbhav Infrastructure Project Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SADBHIN Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 35,479.32 -2,452.73
2018-12-31 34,515.95 -2,443.64 19.89
2018-09-30 30,451.41 -2,561.52 19.89
2018-06-30 25,852.80 -2,785.92 19.89
2018-03-31 22,897.34 -3,290.37 19.89
2017-12-31 19,185.85 -3,426.88 21.33
2017-09-30 16,272.62 -3,691.98 21.33
2017-06-30 14,883.35 -3,797.57
2017-03-31 13,626.43 -3,531.44 21.33
2016-12-31 2,126.23 -1,880.52 10.79
2016-09-30 3,935.05 -2,612.13 10.79
2016-06-30 5,618.85 -2,617.04 10.79
2016-03-31 19,859.39 -3,406.20 12.90
2015-12-31 5,861.88 -3,424.28 19.74
2015-06-30 9,325.59 -3,642.58 16.80
2015-03-31 5,106.46 -3,433.02 19.74
2014-12-31 5,493.85 -3,027.69 186.50
2014-06-30 4,838.23 -2,207.82 126.89
2014-03-31 3,743.99 -396.25 10.29
2013-03-31 2,872.15 -456.66 62.62

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Sadbhav Infrastructure Project has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Sadbhav Infrastructure Project used its assets more efficiently than the IN Infrastructure industry average last year based on Return on Assets.
  • It is difficult to establish if Sadbhav Infrastructure Project improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Sadbhav Infrastructure Project's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Infrastructure industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sadbhav Infrastructure Project has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Sadbhav Infrastructure Project's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sadbhav Infrastructure Project's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sadbhav Infrastructure Project's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Sadbhav Infrastructure Project's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Sadbhav Infrastructure Project's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Sadbhav Infrastructure Project has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sadbhav Infrastructure Project Company Filings, last reported 3 months ago.

NSEI:SADBHIN Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 -5,504.49 94,599.83 3,755.47
2018-12-31 -4,009.37 87,968.86 3,597.52
2018-09-30 -4,009.37 87,968.86 3,597.52
2018-06-30 -2,551.59 87,193.75 981.45
2018-03-31 -2,551.59 87,193.75 981.45
2017-12-31 -1,202.02 80,838.59 1,621.49
2017-09-30 -1,202.02 80,838.59 1,621.49
2017-06-30 978.76 80,938.05 2,018.28
2017-03-31 978.76 83,201.69 1,062.15
2016-12-31 2,678.74 79,849.26 1,127.15
2016-09-30 2,678.74 79,849.26 1,127.15
2016-06-30 11,953.20 81,134.93 1,156.90
2016-03-31 4,485.92 80,220.54 1,145.32
2015-12-31
2015-06-30 8,378.69 63,418.40 1,742.68
2015-03-31 8,378.69 63,418.40 1,742.68
2014-12-31 8,647.46 59,486.67 1,286.28
2014-06-30 9,719.96 52,613.22 1,346.07
2014-03-31 10,152.09 49,957.99 1,547.26
2013-03-31 11,295.30 36,732.02 598.63
  • Sadbhav Infrastructure Project has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Sadbhav Infrastructure Project's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Sadbhav Infrastructure Project has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Sadbhav Infrastructure Project has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -94.1% per year.
X
Financial health checks
We assess Sadbhav Infrastructure Project's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sadbhav Infrastructure Project has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Sadbhav Infrastructure Project's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.89%
Current annual income from Sadbhav Infrastructure Project dividends. Estimated to be 1.25% next year.
If you bought ₹2,000 of Sadbhav Infrastructure Project shares you are expected to receive ₹18 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sadbhav Infrastructure Project's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.56%).
  • Sadbhav Infrastructure Project's dividend is below the markets top 25% of dividend payers in India (2.18%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:SADBHIN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
India Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1447 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:SADBHIN Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.70 1.00
2020-03-31 0.70 1.00
NSEI:SADBHIN Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-27 0.500 0.707
2018-11-14 0.500 0.551
2018-05-08 0.600 0.523
2018-02-02 0.400 0.300

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Sadbhav Infrastructure Project has stable dividend payments.
  • Sadbhav Infrastructure Project only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Sadbhav Infrastructure Project's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess Sadbhav Infrastructure Project's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sadbhav Infrastructure Project afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sadbhav Infrastructure Project has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sadbhav Infrastructure Project's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vasistha Patel
COMPENSATION ₹3,250,000
AGE 46
CEO Bio

Mr. Vasistha C. Patel serves as Managing Director of Sadbhav Infrastructure Projects Limited and has been its Executive Director since April 1, 2008. Mr. Patel has been an Executive Director at Sadbhav Engineering, Ltd since September 29, 2012 and served as its Director since August 20, 2012 and served as its Executive Director until March 31, 2008. Mr. Patel serves as a Director of Sadbhav Infrastructure Project Limited; Maharashtra Border Check Post Net work Limited; Hyderabad-Yadgiri Tollway Private Limited; Rohtak-Panipat Tollway Private Limited; Bijapur-Hungund Tollway Private Limited; Dhule Palesner Tollway Limited; Shreenathji-Udaipur Tollway Private Limited; Solapur-Bijapur Tollway Private Limited; Rohtak-Hissar Tollway Pvt. Ltd. Mr. Patel was in-charge of the technical and civil engineering aspects of the projects undertaken. He joined Sadbhav Engineering in 2001. He had additional charge over the project on Rehabilitation and Upgradation of Gagodhar-Radhanpur Section of NH-15, Gujarat. Mr. Patel holds a Diploma in Civil Engineering from Government Polytechnic, Ahmedabad.

CEO Compensation
  • Vasistha's compensation has increased whilst company is loss making.
  • Vasistha's remuneration is lower than average for companies of similar size in India.
Management Team Tenure

Average tenure of the Sadbhav Infrastructure Project management team in years:

4.9
Average Tenure
  • The tenure for the Sadbhav Infrastructure Project management team is about average.
Management Team

Vasistha Patel

TITLE
MD & Executive Director
COMPENSATION
₹3M
AGE
46

Varun Mehta

TITLE
Chief Financial Officer
COMPENSATION
₹4M
TENURE
4.8 yrs

Hardik Modi

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹680K
TENURE
3 yrs

Darshan Bhatt

TITLE
Assistant General Manager of Accounts
COMPENSATION
₹1M
TENURE
5 yrs

Rajkumar Dhoot

TITLE
Vice President of Finance
COMPENSATION
₹3M
TENURE
6.7 yrs
Board of Directors Tenure

Average tenure and age of the Sadbhav Infrastructure Project board of directors in years:

4.8
Average Tenure
48.5
Average Age
  • The tenure for the Sadbhav Infrastructure Project board of directors is about average.
Board of Directors

Shashin Patel

TITLE
Chairman of the Board
COMPENSATION
₹75K
AGE
38
TENURE
2.3 yrs

Vasistha Patel

TITLE
MD & Executive Director
COMPENSATION
₹3M
AGE
46
TENURE
11.3 yrs

Nitin Kumar Patel

TITLE
Non-Independent & Non-Executive Director
COMPENSATION
₹90K
AGE
51
TENURE
8.8 yrs

Sandip Patel

TITLE
Independent & Non-Executive Director
COMPENSATION
₹90K
AGE
42
TENURE
7.3 yrs

Atul Ruparel

TITLE
Independent & Non-Executive Director
COMPENSATION
₹60K
AGE
52
TENURE
4.8 yrs

Mirat Bhadlawala

TITLE
Independent & Non-Executive Director
COMPENSATION
₹75K
AGE
46
TENURE
4.8 yrs

Arun Patel

TITLE
Independent & Non-Executive Director
COMPENSATION
₹90K
AGE
73
TENURE
4.8 yrs

Daksha Shah

TITLE
Independent & Non-Executive Director
COMPENSATION
₹90K
AGE
74
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
12. Oct 18 Buy Sadbhav Engineering Limited Company 11. Oct 18 11. Oct 18 3,500 ₹96.97 ₹339,389
11. Oct 18 Buy Sadbhav Engineering Limited Company 10. Oct 18 10. Oct 18 38,377 ₹99.69 ₹3,825,625
01. Aug 18 Buy Sadbhav Engineering Limited Company 30. Jul 18 30. Jul 18 1,000 ₹110.14 ₹110,144
30. Jul 18 Buy Sadbhav Engineering Limited Company 26. Jul 18 27. Jul 18 10,598 ₹110.73 ₹1,173,530
26. Jul 18 Buy Sadbhav Engineering Limited Company 23. Jul 18 23. Jul 18 654 ₹110.66 ₹72,372
24. Jul 18 Buy Sadbhav Engineering Limited Company 19. Jul 18 19. Jul 18 19,616 ₹111.35 ₹2,184,174
19. Jul 18 Buy Sadbhav Engineering Limited Company 17. Jul 18 18. Jul 18 14,444 ₹112.19 ₹1,620,512
X
Management checks
We assess Sadbhav Infrastructure Project's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sadbhav Infrastructure Project has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Sadbhav Infrastructure Project (NSE:SADBHIN) Have A Healthy Balance Sheet?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. … NSEI:SADBHIN Historical Debt, July 10th 2019 A Look At Sadbhav Infrastructure Project's Liabilities Zooming in on the latest balance sheet data, we can see that Sadbhav Infrastructure Project had liabilities of ₹27.3b due within 12 months and liabilities of ₹108.2b due beyond that. … Over the most recent three years, Sadbhav Infrastructure Project recorded free cash flow worth 68% of its EBIT, which is around normal, given free cash flow excludes interest and tax.

Simply Wall St -

Volatility 101: Should Sadbhav Infrastructure Project (NSE:SADBHIN) Shares Have Dropped 35%?

For example, the Sadbhav Infrastructure Project Limited (NSE:SADBHIN) share price is down 35% in the last year. … Sadbhav Infrastructure Project isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last year Sadbhav Infrastructure Project saw its revenue grow by 80%.

Simply Wall St -

Is Sadbhav Infrastructure Project Limited (NSE:SADBHIN) A Volatile Stock?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Should You Be Holding Sadbhav Infrastructure Project Limited (NSE:SADBHIN) Right Now?

The first type is company-specific risk, which can be diversified away by investing in other companies to reduce exposure to one particular stock. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … The most widely used metric to quantify a stock's market risk is beta, and the market as a whole represents a beta of one.

Simply Wall St -

Breakeven On The Horizon For Sadbhav Infrastructure Project Limited (NSE:SADBHIN)

Sadbhav Infrastructure Project Limited's (NSE:SADBHIN):. … Sadbhav Infrastructure Project Limited engages in the development, construction, operation, and maintenance of infrastructure projects, as well as provision of related consulting and advisory services in India. … View out our latest analysis for Sadbhav Infrastructure Project

Simply Wall St -

Sadbhav Infrastructure Project Limited’s (NSE:SADBHIN) Insiders Ramped Up Holdings - Should You?

Sadbhav Infrastructure Project Limited engages in the development, construction, operation, and maintenance of infrastructure projects, as well as provision of related consulting and advisory services in India. … some insider buying over the past three months, with insiders investing in. … It is widely considered that insider buying stock in their own companies is potentially a bullish signal

Simply Wall St -

Sadbhav Infrastructure Project Limited (NSE:SADBHIN): What’s In It For The Shareholders?

Sadbhav Infrastructure Project’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … I will be analysing Sadbhav Infrastructure Project’s FCF by looking at its FCF yield and its operating cash flow growth. … Below is a table of Sadbhav Infrastructure Project’s operating cash flow in the past year, as well as the anticipated level going forward.

Simply Wall St -

Should You Be Concerned With Sadbhav Infrastructure Project Limited's (NSE:SADBHIN) -82.23% Earnings Drop?

Check out our latest analysis for Sadbhav Infrastructure Project How Did SADBHIN's Recent Performance Stack Up Against Its Past? … NSEI:SADBHIN Income Statement Apr 11th 18 We can further evaluate Sadbhav Infrastructure Project's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past five years Sadbhav Infrastructure Project's top-line has risen by 29.62% on average, implying that the company is in a high-growth phase with expenses shooting ahead of revenues, leading to annual losses.

Simply Wall St -

Who Are The Major Shareholders In Sadbhav Infrastructure Project Limited (NSE:SADBHIN)?

Check out our latest analysis for Sadbhav Infrastructure Project NSEI:SADBHIN Ownership_summary Feb 26th 18 Institutional Ownership With an institutional ownership of 32.15%, SADBHIN can face volatile stock price movements if institutions execute block trades on the open market, more so, when there are relatively small amounts of shares available on the market to trade However, as not all institutions are alike, such high volatility events, especially in the short-term, have been more frequently linked to active market participants like hedge funds. … Private Company Ownership Potential investors in SADBHIN should also look at another important group of investors: private companies, with a stake of 0.83%, who are primarily invested because of strategic and capital gain interests. … Thus, investors not need worry too much about the consequences of these holdings.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Is Sadbhav Infrastructure Project Limited (NSE:SADBHIN) Excessively Paying Its CEO?

Performance can be measured based on factors such as earnings and total shareholder return (TSR). … Though there is no cookie-cutter approach, as remuneration should account for specific factors of the company and market, we can gauge a high-level thresold to see if SADBHIN deviates substantially from its peers. … Usually I would use earnings and market cap to account for variations in performance, however, SADBHIN's negative earnings lower the effectiveness of this method.

Simply Wall St -

Company Info

Description

Sadbhav Infrastructure Project Limited engages in the development, construction, operation, and maintenance of infrastructure projects, as well as provision of related consulting and advisory services in India. It develops highways, roads, and related projects on a build, operate, and transfer (BOT) basis. The company was incorporated in 2007 and is based in Ahmedabad, India. Sadbhav Infrastructure Project Limited is a subsidiary of Sadbhav Engineering Limited.

Details
Name: Sadbhav Infrastructure Project Limited
SADBHIN
Exchange: NSEI
Founded: 2007
₹19,583,722,009
352,225,216
Website: http://www.sadbhavinfra.co.in
Address: Sadbhav Infrastructure Project Limited
Sadbhav,
Near Havmor Restaurant,
Ahmedabad,
Gujarat, 380009,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 539346 Equity Shares Mumbai Stock Exchange IN INR 16. Sep 2015
NSEI SADBHIN Equity Shares National Stock Exchange of India IN INR 16. Sep 2015
Number of employees
Current staff
Staff numbers
2,169
Sadbhav Infrastructure Project employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 13:03
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/05/27
Last earnings filing: 2019/05/27
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.