Bhagwati Autocast Ltd

About [ edit ]

Bhagwati Autocast is an ISO 9002 unit, having manufacturing capacity of 18000 MT p.a. of highly specialized Cast Iron(SI) & Spheroidal Graphite Iron (SGI) Castings. The wide range of castings is from 40 kg. to 140 kg. for the automobile and tractor OEM in the country.

  • Market Cap 40.7 Cr.
  • Current Price 141
  • High / Low 189 / 75.0
  • Stock P/E 40.7
  • Book Value 92.7
  • Dividend Yield 0.71 %
  • ROCE 11.9 %
  • ROE 8.18 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • The company has delivered a poor sales growth of 9.30% over past five years.
  • Company has a low return on equity of 9.87% for last 3 years.
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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
24.03 30.09 31.79 32.89 25.19 23.03 29.85 23.87 23.76 12.17 27.51 31.35
23.69 28.34 29.03 30.65 23.62 21.47 27.28 23.11 22.33 12.54 26.44 29.28
Operating Profit 0.34 1.75 2.76 2.24 1.57 1.56 2.57 0.76 1.43 -0.37 1.07 2.07
OPM % 1.41% 5.82% 8.68% 6.81% 6.23% 6.77% 8.61% 3.18% 6.02% -3.04% 3.89% 6.60%
Other Income 0.02 0.01 0.01 0.01 0.01 0.07 0.01 0.03 0.01 0.01 0.03 0.01
Interest 0.21 0.20 0.33 0.27 0.31 0.27 0.28 0.21 0.23 0.08 0.12 0.10
Depreciation 0.46 0.53 0.56 0.59 0.65 0.61 0.61 0.63 0.57 0.57 0.58 0.58
Profit before tax -0.31 1.03 1.88 1.39 0.62 0.75 1.69 -0.05 0.64 -1.01 0.40 1.40
Tax % 29.03% 23.30% 18.09% 28.06% 45.16% 25.33% 30.77% 80.00% 32.81% 3.96% -25.00% 26.43%
Net Profit -0.21 0.80 1.54 1.00 0.35 0.56 1.18 -0.01 0.43 -0.97 0.51 1.03
EPS in Rs -0.73 2.78 5.35 3.47 1.21 1.94 4.10 -0.03 1.49 -3.37 1.77 3.58

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
56.74 52.38 62.90 58.01 69.16 81.93 64.43 64.36 70.42 89.51 119.96 100.50 94.79
52.24 47.53 56.89 54.71 65.25 72.43 64.25 60.16 65.24 85.16 111.64 94.17 90.59
Operating Profit 4.50 4.85 6.01 3.30 3.91 9.50 0.18 4.20 5.18 4.35 8.32 6.33 4.20
OPM % 7.93% 9.26% 9.55% 5.69% 5.65% 11.60% 0.28% 6.53% 7.36% 4.86% 6.94% 6.30% 4.43%
Other Income 0.07 0.16 0.25 0.01 1.11 0.03 0.05 0.02 0.03 0.16 0.04 0.12 0.06
Interest 1.10 0.84 1.31 0.61 1.18 0.95 0.71 0.62 0.73 0.94 1.10 1.00 0.53
Depreciation 0.72 0.69 1.25 1.44 1.72 1.84 3.05 2.40 2.24 2.11 2.33 2.41 2.30
Profit before tax 2.75 3.48 3.70 1.26 2.12 6.74 -3.53 1.20 2.24 1.46 4.93 3.04 1.43
Tax % 36.00% 37.64% 32.16% 38.10% 30.66% 31.01% 26.91% 34.17% 42.86% 23.97% 25.15% 28.95%
Net Profit 1.76 2.17 2.51 0.78 1.47 4.65 -2.58 0.78 1.28 1.11 3.69 2.16 1.00
EPS in Rs 6.11 7.53 8.71 2.71 5.10 16.14 -8.96 2.71 4.44 3.85 12.81 7.50 3.47
Dividend Payout % 13.09% 10.62% 11.47% 18.46% 13.71% 5.57% -5.58% 25.85% 18.00% 20.76% 7.80% 13.33%
Compounded Sales Growth
10 Years:7%
5 Years:9%
3 Years:13%
TTM:-7%
Compounded Profit Growth
10 Years:-0%
5 Years:23%
3 Years:18%
TTM:-52%
Stock Price CAGR
10 Years:14%
5 Years:22%
3 Years:7%
1 Year:88%
Return on Equity
10 Years:8%
5 Years:8%
3 Years:10%
Last Year:8%

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
2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88
Reserves 8.43 10.33 12.51 13.12 14.35 18.70 15.83 16.37 17.79 18.61 22.03 23.83
Borrowings 4.65 7.12 6.19 6.79 6.17 8.39 6.61 5.42 8.70 7.73 8.78 6.40
13.14 16.18 21.49 20.90 21.39 25.71 19.56 18.74 13.43 23.17 19.46 19.83
Total Liabilities 29.10 36.51 43.07 43.69 44.79 55.68 44.88 43.41 42.80 52.39 53.15 52.94
5.60 13.95 15.43 17.48 17.36 19.61 17.68 16.10 14.89 14.48 15.30 16.17
CWIP 0.00 0.00 0.07 0.00 0.12 0.00 0.00 0.00 0.00 0.02 0.83 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
23.50 22.56 27.57 26.21 27.31 36.07 27.20 27.31 27.91 37.89 37.02 36.77
Total Assets 29.10 36.51 43.07 43.69 44.79 55.68 44.88 43.41 42.80 52.39 53.15 52.94

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
-1.37 7.00 1.21 4.92 1.38 1.50 2.95 2.04 -0.88 3.91 3.68 6.13
-0.09 -8.77 -1.87 -2.86 -0.97 -3.95 -1.06 -0.80 -1.04 -1.66 -3.92 -2.36
1.70 2.19 0.22 -1.13 -0.77 1.99 -2.07 -1.36 2.32 -2.20 -0.26 -3.69
Net Cash Flow 0.24 0.42 -0.44 0.93 -0.36 -0.46 -0.18 -0.12 0.41 0.05 -0.50 0.08

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 % 26.79% 23.75% 23.91% 8.61% 13.99% 28.82% -10.24% 7.28% 10.99% 8.33% 19.11% 11.86%
Debtor Days 111.16 100.27 102.36 87.52 79.16 95.56 104.07 109.97 108.95 119.60 90.15 105.43
Inventory Turnover 16.45 14.56 10.95 7.76 8.19 8.19 7.10 7.41 7.60 8.65 11.73 9.45

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
66.30 67.38 69.04 69.40 69.61 69.61 69.77 71.37 71.41 71.89 72.26 72.93
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00
33.69 32.61 30.95 30.59 30.38 30.38 30.22 28.62 28.58 28.10 27.74 27.07

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