Kirloskar Ferrous Industries Ltd

Kirloskar Ferrous Industries a flagship Company of Kirloskar Group, is engaged in manufacturing of iron castings.(Source : 201903 Annual Report Page No: 94)

Pros:
Stock is providing a good dividend yield of 3.27%.
Company has been maintaining a healthy dividend payout of 33.53%
Cons:
Company has a low return on equity of 12.95% for last 3 years.

Peer Comparison Sector: Steel // Industry: Steel - Pig Iron

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
324 255 362 377 410 489 480 496 540 583 540 482
275 221 339 361 381 458 446 462 482 512 492 437
Operating Profit 49 34 23 16 29 31 34 35 59 70 48 45
OPM % 15% 13% 6% 4% 7% 6% 7% 7% 11% 12% 9% 9%
Other Income 0 0 1 1 1 0 3 0 1 0 4 0
Interest 2 3 2 2 3 3 3 4 4 5 4 5
Depreciation 12 12 10 13 11 13 13 13 13 14 14 14
Profit before tax 35 20 11 2 16 16 22 18 43 52 33 26
Tax % 36% 15% 7% 21% 30% 30% 31% 43% 36% 34% 22% 30%
Net Profit 23 17 10 1 11 11 15 10 27 34 26 18
EPS in Rs 1.65 1.24 0.75 0.09 0.79 0.80 1.09 0.76 1.97 2.51 1.90 1.34
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
727 699 807 1,092 1,090 1,198 1,232 1,365 1,114 1,277 1,765 2,159 2,145
651 648 714 990 996 1,089 1,121 1,214 963 1,105 1,654 1,945 1,923
Operating Profit 75 51 93 102 93 109 112 151 151 172 111 214 222
OPM % 10% 7% 12% 9% 9% 9% 9% 11% 14% 13% 6% 10% 10%
Other Income 18 5 10 1 2 2 3 1 2 5 4 3 5
Interest 9 13 7 4 10 15 23 30 24 11 11 16 18
Depreciation 19 23 26 27 29 33 34 50 44 46 50 54 55
Profit before tax 66 20 70 72 56 62 58 72 85 121 54 147 155
Tax % 25% 61% 30% 33% 33% 37% 31% 31% 32% 27% 30% 33%
Net Profit 49 8 49 48 37 39 40 49 58 88 38 98 106
EPS in Rs 3.45 0.45 3.32 3.28 2.46 2.63 2.69 3.33 3.94 6.40 2.77 7.13 7.72
Dividend Payout % 21% 86% 28% 28% 37% 44% 43% 35% 30% 27% 45% 28%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:11.94%
5 Years:11.87%
3 Years:24.68%
TTM:14.43%
Compounded Profit Growth
10 Years:27.80%
5 Years:20.30%
3 Years:19.89%
TTM:124.52%
Return on Equity
10 Years:12.20%
5 Years:12.57%
3 Years:12.95%
Last Year:15.97%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
68 69 69 69 69 69 69 69 69 69 69 69
Reserves 232 229 258 290 312 338 358 386 423 514 522 586
Borrowings 4 19 6 0 55 170 190 133 108 111 72 127
250 195 294 351 321 314 377 343 260 296 541 613
Total Liabilities 554 511 626 710 756 890 993 930 860 990 1,204 1,395
179 265 281 289 364 368 546 542 550 574 561 608
CWIP 68 63 58 70 21 120 23 31 8 19 73 62
Investments 0 0 0 0 0 0 0 0 0 0 0 0
307 183 288 351 371 402 424 357 302 397 570 726
Total Assets 554 511 626 710 756 890 993 930 860 990 1,204 1,395

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
75 45 54 75 19 74 107 161 116 75 129 158
-106 -80 -23 -47 -53 -158 -85 -57 -32 -70 -57 -161
-37 4 -27 -26 29 84 -25 -106 -89 2 -79 2
Net Cash Flow -67 -31 4 2 -5 1 -3 -1 -5 7 -7 -1

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 25% 11% 24% 22% 17% 15% 13% 17% 18% 20% 10% 23%
Debtor Days 48 36 40 45 54 47 56 47 46 60 60 64
Inventory Turnover 9.95 9.27 8.06 7.24 7.53 8.40 7.77 9.73 10.54 11.89 10.41 9.32