Lakshmi Electrical Control Systems Ltd

Lakshmi Electrical Control Systems Ltd

₹ 1,794 -0.08%
24 Apr 11:57 a.m.
About

Incorporated in 1981, Lakshmi Electrical Control Systems manufactures and sells control panels and plastic components[1]

Key Points

Business Overview:[1][2]
LECS is a part of Lakshmi Group. It was formerly in collaboration with Sprecher+Schuh Switzerland to manufacture Control gear. LECS manufactures control panels for textile machinery and generates most of its revenue from Laxmi Machine Works Ltd, and supplies
control panels, which are used in manufacture of textile machinery. Additionally, company manufactures plastic components which are used in automobile and engineering industries.

  • Market Cap 441 Cr.
  • Current Price 1,794
  • High / Low 2,175 / 952
  • Stock P/E 27.5
  • Book Value 1,110
  • Dividend Yield 1.24 %
  • ROCE 12.1 %
  • ROE 8.96 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.4%
  • Company's working capital requirements have reduced from 84.3 days to 62.2 days

Cons

  • Promoter holding is low: 36.1%
  • Company has a low return on equity of 7.10% over last 3 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
38.71 56.75 36.38 69.91 69.30 80.53 77.52 95.60 91.92 95.78 92.79 102.00 81.23
37.19 52.75 35.29 63.46 64.09 72.99 70.91 86.76 85.97 90.04 86.91 96.93 78.83
Operating Profit 1.52 4.00 1.09 6.45 5.21 7.54 6.61 8.84 5.95 5.74 5.88 5.07 2.40
OPM % 3.93% 7.05% 3.00% 9.23% 7.52% 9.36% 8.53% 9.25% 6.47% 5.99% 6.34% 4.97% 2.95%
-0.96 0.34 0.84 1.10 0.46 0.59 0.49 0.92 0.79 0.86 2.49 1.84 1.09
Interest 0.05 0.04 0.11 0.10 0.10 0.12 0.10 0.13 0.16 0.16 0.16 0.11 0.16
Depreciation 0.55 0.54 0.55 0.55 0.55 0.56 0.57 0.59 0.61 0.70 0.71 0.77 0.80
Profit before tax -0.04 3.76 1.27 6.90 5.02 7.45 6.43 9.04 5.97 5.74 7.50 6.03 2.53
Tax % 325.00% 4.52% -2.36% 24.93% 25.30% 29.66% 24.73% 25.44% 28.14% 29.44% 26.27% 26.53% 24.11%
0.09 3.59 1.30 5.18 3.75 5.26 4.84 6.75 4.29 4.05 5.53 4.43 1.92
EPS in Rs 0.37 14.61 5.29 21.07 15.26 21.40 19.69 27.46 17.45 16.48 22.50 18.02 7.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
164 130 160 182 187 160 188 191 113 132 256 361 372
151 127 153 172 174 149 173 180 113 128 236 334 353
Operating Profit 13 4 7 10 13 12 16 11 -0 4 20 27 19
OPM % 8% 3% 4% 5% 7% 7% 8% 6% -0% 3% 8% 8% 5%
6 5 5 4 2 3 3 4 3 1 3 3 6
Interest 0 0 0 0 0 0 0 0 0 0 0 1 1
Depreciation 4 3 2 1 2 2 2 2 2 2 2 2 3
Profit before tax 15 5 9 12 13 13 17 13 1 3 21 27 22
Tax % 31% 30% 32% 33% 34% 31% 29% 22% 53% -17% 25% 27%
10 4 6 8 9 9 12 10 0 3 15 20 16
EPS in Rs 42.15 15.46 25.92 33.52 34.99 35.80 47.76 41.54 1.75 12.45 63.02 81.08 64.81
Dividend Payout % 12% 13% 19% 21% 23% 22% 21% 22% 29% 28% 24% 27%
Compounded Sales Growth
10 Years: 11%
5 Years: 14%
3 Years: 47%
TTM: 8%
Compounded Profit Growth
10 Years: 19%
5 Years: 11%
3 Years: 262%
TTM: -24%
Stock Price CAGR
10 Years: 23%
5 Years: 29%
3 Years: 80%
1 Year: 79%
Return on Equity
10 Years: 7%
5 Years: 6%
3 Years: 7%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 68 72 76 82 89 135 167 168 132 174 211 230 270
0 3 3 1 3 22 5 5 0 11 6 8 7
30 30 36 38 27 27 32 24 23 39 57 70 80
Total Liabilities 101 107 118 124 121 186 207 200 158 226 277 310 360
14 12 14 23 26 25 26 26 35 33 33 38 40
CWIP 0 0 1 3 0 0 0 0 0 0 1 1 3
Investments 12 11 11 11 1 59 103 100 70 103 126 130 170
75 84 93 88 93 102 77 75 53 89 116 141 147
Total Assets 101 107 118 124 121 186 207 200 158 226 277 310 360

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
16 6 -3 -9 2 1 15 7 8 -10 7 11
5 4 0 -8 9 -18 4 -4 -1 -1 -1 -8
-1 0 -0 -4 -1 17 -19 -3 -8 10 -6 -3
Net Cash Flow 20 11 -3 -22 10 0 -0 0 0 -0 -0 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 60 59 58 66 70 88 97 78 99 124 95 90
Inventory Days 29 37 42 51 38 41 42 49 81 108 54 40
Days Payable 68 87 86 75 46 59 57 42 70 108 74 67
Cash Conversion Cycle 21 9 13 42 62 71 82 85 110 124 75 62
Working Capital Days 26 21 31 57 70 101 77 79 104 119 71 62
ROCE % 20% 7% 12% 15% 15% 11% 10% 7% 1% 3% 10% 12%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
36.13% 36.13% 36.13% 36.13% 36.13% 36.14% 36.14% 36.14% 36.14% 36.14% 36.14% 36.14%
63.86% 63.86% 63.86% 63.86% 63.86% 63.86% 63.85% 63.86% 63.86% 63.86% 63.86% 63.86%
No. of Shareholders 8,6849,1419,0379,0169,0309,1419,1149,1229,0319,84110,30210,153

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