Mehabe score: 2 G Factor: 4 Piotski Score: 6 The stock has a rating HOLD. The mehabe team score is reflective of its fundamental and technical merits. A rating above 8 is considered good buy. The stock has a G-Factor of 4 and Piotski score of 6.
Description
Niyogin Fintech Ltd is a fintech company and a registered NBFC. The Co. provides a digital platform that enables access to relevant services & products for MSMEs providing financial inclusion, credit, investments and SAAS services. [1] Site:NIYOGIN Main Symbol:NIYOGIN
Stock trades at 70.4, below its 50dma 74.55 and below its 200dma 79.08. The stock remains bearish on technicals
The 52 week high is at 117.80 and the 52week low is at 57.20
Price Chart
P/E Chart
Sales and Margin
Strengths
– is almost debt free.
Weakness
– has low interest coverage ratio.
– has a low return on equity of -4.91% for last 3 years.
Competition
– The industry trades at a mean P/E of 25.2x. Bajaj Finance trades at the industry’s max P/E of 73.39x. NIYOGIN trades at a P/E of x
– Industry’s mean G-Factor is 3.5 while the mean Piotski score is 6.0. NIYOGIN has a G-Factor of 4 and Piotski scoreof 6.
– Average 1 month return for industry is -1.8%. The max 1- month return was given by Cholaman.Inv.&Fn: a return of 21.72 %
Quarterly Results
Sales for period ended Sep 2021 is Rs 4.96 cr compared to Rs 7.34 cr for period ended Sep 2020, a fall of 32.4%
.
.
Company reported negative operating profit of Rs -1.95 cr for period ended Sep 2021. For same period last year, operating profit was 0.78.
The EPS for quarter ended Sep 2021 is Rs -0.16 compared to Rs -0.13 for previous quarter ended Jun 2021 and Rs 0.01 for Sep 2020.
Profit & Loss Statement
Profit&Loss Comments
Company reported sales of Rs 20.49 cr for period ended TTM vis-vis sales of Rs 25.52 cr for the period ended Mar 2021, a fall of 24.5%. The 3 year sales cagr stood at -3.5%.
Operating margins shrank to -39.78% for period ended TTM vis-vis -15.2% for period ended Mar 2021, contraction of 2458.0 bps.
Net Profit reported at Rs -8.59 cr for period ended TTM vis-vis sales of Rs -6.44 cr for the period ended Mar 2021, falling 0%.
Balance Sheet Statement
Cash Flow Statement
Cash Flow comments
CashFlow from operating activities was positive.
CashFlow from operating activities: Rs 103.31 cr for period ended Mar 2021 vis-vis Rs -102.83 cr for period ended Mar 2020
Sales Growth
Profit Growth Statement
Profit Growth Statement
Stock Price CAGR
Return of Equity
General Comments
– The stock has given a return of 0% on a 1 Year basis vis-vis a return of -2% over the last 3 Years. – The compounded sales growth on a TTM bassis is -32% vis-vis a compounded sales growth of 28% over the last 3 Years. – The compounded profit growth on a TTM basis is 41% vis-vis a compounded profit growth of % over the last 3 Years.
Ratios
Shareholding Pattern
– FII shareholding has remained largely constant. The Dec 2021 fii holding stood at 15.32% vis-vis 15.98% for Sep 2021 – Public shareholding has remained largely constant. The Dec 2021 public holding stood at 46.13% vis-vis 45.26% for Sep 2021
Conclusion
– is almost debt free. – has low interest coverage ratio.
– has a low return on equity of -4.91% for last 3 years.
The business fundamentals of the stock remain stable. Stronger near term results will build interest in the stock. We suggest to wait for a upturn in business performance.
Technically, the stock remains below its 50 DMA 74.55 and is trading at 70.4. Shows a near term lack of buying interest.
