Vakrangee’s PAT has jumped by 45.32 per cent at Rs 110.80 crore in Q4FY16
Chirag Gothi / 11 May 2016
India's largest network of last-mile retail points of sale, Vakrangee reported consolidated net profit jumped by 45.32 per cent at Rs 110.80 crore for the quarter March 31, 2015. The Company’s consolidated revenue grew by 25.9 per cent of Rs 878 crore as against of Rs 698.8 crore in the corresponding period of the last year.
India's largest network of last-mile retail points of sale, Vakrangee reported consolidated net profit jumped by 45.32 per cent at Rs 110.80 crore for the quarter March 31, 2015.
The Company’s consolidated revenue grew by 25.9 per cent of Rs 878 crore as against of Rs 698.8 crore in the corresponding period of the last year. Its consolidated operating profit (EBITDA) has grown by 13.2 per cent at Rs 218 crore however operating profit margin contracted by 278 bps for the current quarter, i.e. at 24.78 per cent.
For the entire period of FY16, it has reported consolidated net profit growth of 22.65 per cent at Rs 394.75 crore, its revenue grew by 15.59 per cent at Rs 3190.73 crore. Its consolidated operating profit (EBITDA) has grown by 13.66 per cent at Rs 822 crore along with operating profit margin contracted by 25 bps for the current year at 27.76 per cent.
Company’s e‐Governance vertical has been capex intensive as well as working capital intensive, thus limiting the free cash flow generation. Therefore its management gradually shifted focus to high-growth opportunities business like in financial inclusion and e-commerce. Going forward, the Company has plans to focus on Vakrange Kendra and the White Label ATM businesses where low capex requirement is favourable and it also gives higher return. Currently it contributes around 50 per cent of the total revenue. It will help the company to reduce its reliance on short-term projects and now the company has successfully transitioned to an asset-light model by rolling out Vakrangee Kendras on franchisee basis.
The company targets to leverage its vast network of retail access points to deliver real‐time banking services, insurance services, e‐governance services (G2C), ecommerce services (B2C) and ATM services to the unserved rural, semiurban and urban markets.
On valuation front the stock of company is trading at P/E of 24.7. The stock of company is trading at Rs 184.5 per share marginally decline of 3.02 per cent from the previous close.
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