High Energy Batteries (India) Ltd
High Energy Batteries (India) Limited is engaged in the business of manufacturing Hi-Tech batteries for use in Army, Navy, Airforce and Launch Vehicles and also commercial batteries for Auto and Standby VRLA applications. [1]
- Market Cap ₹ 838 Cr.
- Current Price ₹ 935
- High / Low ₹ 970 / 341
- Stock P/E 43.1
- Book Value ₹ 89.4
- Dividend Yield 0.36 %
- ROCE 37.3 %
- ROE 33.9 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 46.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.8%
Cons
- Stock is trading at 10.5 times its book value
- The company has delivered a poor sales growth of 9.35% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
56 | 67 | 31 | 33 | 23 | 47 | 59 | 47 | 61 | 78 | 80 | 93 | 89 | |
49 | 60 | 34 | 36 | 29 | 40 | 48 | 39 | 46 | 48 | 50 | 60 | 62 | |
Operating Profit | 7 | 6 | -3 | -3 | -6 | 8 | 12 | 7 | 15 | 30 | 29 | 33 | 27 |
OPM % | 12% | 10% | -11% | -10% | -29% | 16% | 20% | 15% | 25% | 39% | 37% | 36% | 30% |
0 | 0 | 1 | 7 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 3 | |
Interest | 5 | 4 | 6 | 6 | 5 | 5 | 6 | 6 | 6 | 5 | 4 | 3 | 3 |
Depreciation | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Profit before tax | 1 | 1 | -10 | -4 | -11 | 1 | 5 | 1 | 9 | 24 | 25 | 27 | 26 |
Tax % | 28% | 29% | 36% | 34% | 35% | 175% | 29% | 23% | 36% | 24% | 27% | 25% | |
0 | 0 | -6 | -3 | -7 | -1 | 3 | 0 | 6 | 18 | 18 | 20 | 19 | |
EPS in Rs | 0.43 | 0.41 | -6.92 | -3.12 | -7.64 | -0.96 | 3.64 | 0.49 | 6.22 | 20.37 | 19.94 | 22.87 | 21.69 |
Dividend Payout % | 0% | 48% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 15% | 15% | 15% |
Compounded Sales Growth | |
---|---|
10 Years: | 3% |
5 Years: | 9% |
3 Years: | 15% |
TTM: | 2% |
Compounded Profit Growth | |
---|---|
10 Years: | 50% |
5 Years: | 46% |
3 Years: | 58% |
TTM: | 6% |
Stock Price CAGR | |
---|---|
10 Years: | 45% |
5 Years: | 79% |
3 Years: | 77% |
1 Year: | 155% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 35% |
3 Years: | 40% |
Last Year: | 34% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Reserves | 16 | 17 | 10 | 7 | 0 | 13 | 16 | 17 | 22 | 40 | 54 | 72 | 78 |
27 | 33 | 40 | 39 | 28 | 34 | 40 | 39 | 33 | 35 | 25 | 21 | 14 | |
22 | 15 | 24 | 20 | 23 | 31 | 26 | 25 | 19 | 18 | 19 | 21 | 16 | |
Total Liabilities | 67 | 66 | 76 | 69 | 53 | 80 | 84 | 83 | 75 | 94 | 99 | 115 | 110 |
21 | 20 | 18 | 17 | 15 | 34 | 33 | 32 | 31 | 31 | 30 | 38 | 38 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
Investments | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
46 | 46 | 57 | 52 | 38 | 46 | 50 | 50 | 43 | 62 | 68 | 76 | 70 | |
Total Assets | 67 | 66 | 76 | 69 | 53 | 80 | 84 | 83 | 75 | 94 | 99 | 115 | 110 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6 | -0 | -1 | 4 | 7 | -3 | 3 | 5 | 11 | 9 | 16 | 17 | |
-0 | -0 | 0 | 7 | 6 | -0 | -0 | -0 | -0 | -1 | -1 | -11 | |
-5 | 1 | 1 | -7 | -17 | 2 | 1 | -7 | -11 | -3 | -17 | -10 | |
Net Cash Flow | 0 | 1 | 0 | 4 | -4 | -1 | 3 | -2 | -1 | 6 | -1 | -4 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 65 | 64 | 185 | 117 | 116 | 108 | 90 | 130 | 54 | 85 | 90 | 113 |
Inventory Days | 325 | 242 | 652 | 452 | 410 | 369 | 336 | 435 | 412 | 406 | 498 | 433 |
Days Payable | 99 | 29 | 201 | 152 | 198 | 238 | 187 | 246 | 104 | 65 | 57 | 32 |
Cash Conversion Cycle | 291 | 278 | 636 | 416 | 328 | 239 | 239 | 319 | 363 | 427 | 531 | 513 |
Working Capital Days | 158 | 156 | 406 | 249 | 162 | 129 | 149 | 164 | 152 | 205 | 222 | 226 |
ROCE % | 12% | 10% | -9% | -9% | -19% | 16% | 20% | 11% | 25% | 44% | 36% | 37% |
Documents
Announcements
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 12 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
12 Apr - Compliance Certificate under Regulation 74(5) of SEBI(DP) Regulations, 2018 for the Quarter ended 31st March 2024
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Compliances - Compliance Certificate For The Period Ended March 2024
12 Apr - Compliances Certificate under Regulation 7(3) of SEBI (LODR) Regulations, 2015
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Reconstitution Of Various Committees Of The Board
28 Mar - Reconstitution of various Committees of the Board with effect from 01st April, 2024
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Announcement under Regulation 30 (LODR)-Change in Directorate
28 Mar - Change in Directorate of the Company with effect from 01st April, 2024.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Products
The Co manufactures Aircraft Batteries, Torpedo Batteries, Missiles, and Helicopter Batteries for the Defence sector, Car batteries and Truck batteries for the automotive sector, VRLA Batteries among others. [1]
Revenue Split
Silver Zinc Batteries & Cells: 97% in FY21 vs 99% in FY20.
Nickel Cadmium Cells: 3% in FY21 vs 1% in FY20.[2]