Welcast Steels Ltd

Welcast Steels Ltd

₹ 1,545 1.32%
28 Mar - close price
About

Incorporated in 1972, Welcast Steels Ltd manufactures High Chrome Grinding Media balls

Key Points

Business Overview:[1]
Company is an MSME and majority-owned subsidiary of AIA Engineering Limited which is in the same line of business.

  • Market Cap 98.9 Cr.
  • Current Price 1,545
  • High / Low 1,700 / 533
  • Stock P/E 54.3
  • Book Value 594
  • Dividend Yield 0.16 %
  • ROCE 11.2 %
  • ROE 7.37 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 39.9 to 20.9 days.
  • Company's working capital requirements have reduced from 70.1 days to 38.7 days

Cons

  • Stock is trading at 2.60 times its book value
  • The company has delivered a poor sales growth of -16.7% over past five years.
  • Company has a low return on equity of 0.19% over last 3 years.
  • Earnings include an other income of Rs.3.29 Cr.

* 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

Figures in Rs. Crores

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
19.17 24.69 3.52 17.10 42.53 22.81 43.29 9.57 19.68 21.38 19.36 25.91 20.16
19.33 25.73 5.46 16.03 41.55 22.92 38.76 8.11 20.11 22.77 18.68 25.14 18.77
Operating Profit -0.16 -1.04 -1.94 1.07 0.98 -0.11 4.53 1.46 -0.43 -1.39 0.68 0.77 1.39
OPM % -0.83% -4.21% -55.11% 6.26% 2.30% -0.48% 10.46% 15.26% -2.18% -6.50% 3.51% 2.97% 6.89%
3.79 0.19 0.06 0.08 0.13 0.45 0.18 0.12 0.19 0.27 0.28 2.30 0.44
Interest 0.02 0.06 0.01 0.02 0.13 0.02 0.05 0.08 0.03 1.47 0.00 0.10 0.00
Depreciation 0.38 0.29 0.23 0.23 0.34 0.29 0.27 0.18 0.23 0.22 0.17 0.18 0.19
Profit before tax 3.23 -1.20 -2.12 0.90 0.64 0.03 4.39 1.32 -0.50 -2.81 0.79 2.79 1.64
Tax % 14.55% -2.50% -0.47% 3.33% -3.12% -233.33% 8.43% 18.18% 26.00% 25.62% 25.32% 25.09% 25.00%
2.75 -1.24 -2.13 0.87 0.67 0.10 4.02 1.08 -0.37 -2.09 0.59 2.09 1.23
EPS in Rs 43.09 -19.43 -33.38 13.63 10.50 1.57 62.99 16.92 -5.80 -32.75 9.24 32.75 19.27
Raw PDF

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
217.30 241.56 237.90 203.36 119.62 201.32 233.85 269.62 150.02 97.95 85.97 93.92 86.81
210.61 235.07 231.80 201.64 119.12 198.57 230.75 266.01 149.12 98.00 85.92 89.67 85.36
Operating Profit 6.69 6.49 6.10 1.72 0.50 2.75 3.10 3.61 0.90 -0.05 0.05 4.25 1.45
OPM % 3.08% 2.69% 2.56% 0.85% 0.42% 1.37% 1.33% 1.34% 0.60% -0.05% 0.06% 4.53% 1.67%
0.23 0.49 0.40 0.96 0.43 0.61 0.52 0.50 0.81 0.46 0.72 0.76 3.29
Interest 0.72 0.90 0.65 0.62 0.30 0.13 0.46 0.49 0.43 0.38 0.23 1.71 1.57
Depreciation 2.33 1.80 1.47 1.77 0.95 0.82 0.90 0.84 1.34 1.43 1.08 0.90 0.76
Profit before tax 3.87 4.28 4.38 0.29 -0.32 2.41 2.26 2.78 -0.06 -1.40 -0.54 2.40 2.41
Tax % 32.04% 33.88% 32.19% 106.90% 3.12% 26.56% 29.65% 33.81% -366.67% -30.00% 9.26% -10.42%
2.63 2.83 2.98 -0.03 -0.31 1.77 1.59 1.84 -0.26 -1.82 -0.49 2.64 1.82
EPS in Rs 41.21 44.34 46.69 -0.47 -4.86 27.73 24.91 28.83 -4.07 -28.52 -7.68 41.37 28.51
Dividend Payout % 9.73% 11.31% 10.74% -426.67% -41.29% 7.23% 8.05% 8.70% 0.00% 0.00% 0.00% 6.06%
Compounded Sales Growth
10 Years: -9%
5 Years: -17%
3 Years: -14%
TTM: -9%
Compounded Profit Growth
10 Years: -1%
5 Years: 9%
3 Years: 100%
TTM: -62%
Stock Price CAGR
10 Years: 18%
5 Years: 21%
3 Years: 65%
1 Year: 179%
Return on Equity
10 Years: 2%
5 Years: 1%
3 Years: 0%
Last Year: 7%

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 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64 0.64
Reserves 25.37 27.82 30.41 30.11 29.56 31.25 32.65 34.38 33.78 32.12 31.88 34.67 37.26
8.15 5.50 3.25 9.05 0.00 0.00 5.00 1.20 4.00 3.47 2.84 0.00 0.00
25.34 25.23 17.32 9.69 6.98 15.77 16.92 18.82 11.96 5.28 7.54 10.89 10.24
Total Liabilities 59.50 59.19 51.62 49.49 37.18 47.66 55.21 55.04 50.38 41.51 42.90 46.20 48.14
8.68 7.10 6.17 5.24 4.51 4.59 4.29 6.66 7.90 6.54 7.34 4.59 4.38
CWIP 0.00 0.06 0.00 0.00 0.00 0.16 1.61 0.06 0.00 0.00 0.00 0.09 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 17.05 13.59
50.82 52.03 45.45 44.25 32.67 42.91 49.31 48.32 42.48 34.97 35.56 24.47 30.17
Total Assets 59.50 59.19 51.62 49.49 37.18 47.66 55.21 55.04 50.38 41.51 42.90 46.20 48.14

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
-1.51 8.56 -0.70 -4.79 10.08 0.59 -2.30 5.65 -0.20 2.20 2.78 17.25
-0.18 -0.31 -0.47 -1.03 -0.13 -1.04 -2.05 -1.19 -1.86 0.29 -1.31 -14.65
1.78 -8.72 0.96 5.69 -9.49 -0.03 4.41 -4.31 2.26 -0.81 -0.81 -4.47
Net Cash Flow 0.09 -0.47 -0.21 -0.12 0.47 -0.48 0.07 0.15 0.20 1.68 0.67 -1.86

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 14.58 12.45 5.25 14.25 18.86 12.33 20.48 17.04 22.80 52.13 46.66 20.87
Inventory Days 47.99 48.19 40.70 55.01 62.32 48.35 48.24 44.95 83.04 63.63 106.78 85.34
Days Payable 27.78 38.67 32.35 17.26 16.97 34.54 30.85 22.08 25.19 12.98 33.98 46.70
Cash Conversion Cycle 34.80 21.98 13.60 52.00 64.21 26.14 37.86 39.91 80.65 102.78 119.46 59.51
Working Capital Days 31.44 23.10 32.08 51.01 57.94 38.29 40.64 31.12 58.15 76.73 94.89 38.67
ROCE % 14.42% 15.24% 14.83% 1.94% -0.09% 8.18% 7.75% 8.70% -0.13% -2.73% -0.87% 11.18%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85% 74.85%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
25.14% 25.14% 25.14% 25.14% 25.14% 25.14% 25.13% 25.14% 25.14% 25.14% 25.15% 25.14%
No. of Shareholders 1,8701,8721,8921,8571,8041,7911,8281,7361,7161,7311,7261,709

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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