Delton Cables Ltd

About [ edit ]

Delton Cables is engaged in manufacturing and supplying of wires, cables and switchgears. Delton is a prime supplier to the Power, Telecommunication, Railways, Steel and Mining sectors in India and in the International market also.(Source : 201903 Annual Report Page No:46)

  • Market Cap 34.6 Cr.
  • Current Price 40.1
  • High / Low 56.9 / 24.0
  • Stock P/E 15.8
  • Book Value 64.6
  • Dividend Yield 0.00 %
  • ROCE 13.3 %
  • ROE 11.9 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.62 times its book value
  • Debtor days have improved from 124.45 to 75.30 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.79% over past five years.
  • Company has a low return on equity of -15.98% for last 3 years.
  • Contingent liabilities of Rs.51.20 Cr.
  • Earnings include an other income of Rs.3.06 Cr.

Peer comparison

Sector: Cables Industry: Cables - Power

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
18.04 9.24 9.10 19.09 34.59 22.04 34.68 39.56 29.46 15.34 40.04 26.05
17.98 9.64 10.06 19.67 32.20 19.41 31.42 35.62 27.23 13.27 36.71 25.10
Operating Profit 0.06 -0.40 -0.96 -0.58 2.39 2.63 3.26 3.94 2.23 2.07 3.33 0.95
OPM % 0.33% -4.33% -10.55% -3.04% 6.91% 11.93% 9.40% 9.96% 7.57% 13.49% 8.32% 3.65%
Other Income -0.58 0.04 0.02 24.59 34.32 0.15 0.40 0.11 1.92 0.09 0.57 0.48
Interest 3.06 2.72 2.35 2.80 4.32 2.33 1.86 1.93 1.62 1.68 2.22 1.92
Depreciation 0.12 0.12 0.11 0.13 0.13 0.28 0.30 0.34 0.37 0.38 0.49 0.36
Profit before tax -3.70 -3.20 -3.40 21.08 32.26 0.17 1.50 1.78 2.16 0.10 1.19 -0.85
Tax % 16.49% 5.31% 11.18% -2.32% -8.06% -11.76% -60.67% 8.43% 22.69% -20.00% -4.20% 4.71%
Net Profit -3.09 -3.03 -3.03 21.57 34.87 0.18 2.41 1.63 1.67 0.12 1.24 -0.82
EPS in Rs -3.58 -3.51 -3.51 24.97 40.36 0.21 2.79 1.89 1.93 0.14 1.44 -0.95

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
165 141 126 141 116 108 131 93 106 73 71 126 111
155 130 116 129 109 104 123 91 104 76 105 119 102
Operating Profit 10 11 9 12 7 4 8 2 2 -3 -34 7 9
OPM % 6% 8% 7% 8% 6% 3% 6% 2% 2% -5% -48% 6% 8%
Other Income 3 1 1 0 -1 1 2 9 1 -0 93 7 3
Interest 9 7 7 8 8 7 9 10 11 12 12 8 7
Depreciation 1 1 1 2 1 1 1 1 1 1 0 1 2
Profit before tax 3 3 1 3 -4 -4 -0 0 -9 -16 47 6 3
Tax % 36% 35% 35% 36% 28% 31% -43% -111% 17% 18% -8% -5%
Net Profit 2 2 1 2 -3 -3 -1 1 -7 -13 50 6 2
EPS in Rs 2.03 2.14 1.13 2.10 -3.27 -3.02 -0.76 1.09 -8.32 -15.16 58.31 6.82 2.56
Dividend Payout % 16% 16% 30% 24% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:-1%
5 Years:-1%
3 Years:6%
TTM:-15%
Compounded Profit Growth
10 Years:13%
5 Years:43%
3 Years:41%
TTM:-86%
Stock Price CAGR
10 Years:6%
5 Years:15%
3 Years:22%
1 Year:48%
Return on Equity
10 Years:-13%
5 Years:-23%
3 Years:-16%
Last Year:12%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
3 3 3 3 3 3 9 9 9 9 9 9 9
Reserves 20 22 22 23 21 18 12 12 4 -10 40 46 47
Borrowings 39 33 47 51 45 50 53 61 64 69 55 47 44
36 32 26 29 25 30 32 25 31 30 40 34 32
Total Liabilities 97 89 98 107 94 101 105 107 107 98 144 135 132
14 13 12 11 9 8 7 6 4 3 5 10 10
CWIP 0 1 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
83 76 86 96 84 93 98 101 103 95 139 125 121
Total Assets 97 89 98 107 94 101 105 107 107 98 144 135 132

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
3 12 1 3 12 1 3 -7 6 7 -29 -15
-0 0 -2 0 0 0 1 8 1 1 57 34
-2 -12 -2 -3 -12 -1 -5 -0 -20 6 -26 -14
Net Cash Flow 0 0 -3 0 0 0 -0 1 -12 13 2 6

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 17% 17% 13% 14% 9% 5% 11% 3% 3% -5% 2% 13%
Debtor Days 95 90 99 119 113 141 117 147 145 136 162 75
Inventory Turnover 4.01 3.61 2.87 3.03 2.61 2.51 2.83 1.79 1.99 1.29 1.24 1.89

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
73.80 73.80 73.80 73.80 73.80 73.80 73.80 73.80 73.80 73.80 73.80 73.80
0.03 0.03 0.02 0.02 0.02 0.02 0.03 0.02 0.02 0.02 0.02 0.02
26.17 26.17 26.18 26.18 26.18 26.18 26.18 26.18 26.18 26.18 26.18 26.18

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