Welcast Steels Ltd

₹ 1,365 0.62%

13 Dec - 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.

Website BSE

Market Cap ₹ 87.4 Cr.
Current Price ₹ 1,365
High / Low ₹ 1,862 / 1,200
Stock P/E 45.0
Book Value ₹ 618
Dividend Yield 0.18 %
ROCE 17.3 %
ROE 12.4 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company's working capital requirements have reduced from 59.3 days to 44.6 days

Cons

The company has delivered a poor sales growth of -19.5% over past five years.
Company has a low return on equity of 6.71% over last 3 years.
Earnings include an other income of Rs.1.84 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.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Abrasives And Grinding Wheels

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	17.10	42.53	22.81	43.29	9.57	19.68	21.38	19.36	25.91	20.16	25.62	24.39	16.23
	16.03	41.55	22.92	38.76	8.11	20.11	22.77	18.68	25.14	18.77	24.23	25.51	16.41
Operating Profit	1.07	0.98	-0.11	4.53	1.46	-0.43	-1.39	0.68	0.77	1.39	1.39	-1.12	-0.18
OPM %	6.26%	2.30%	-0.48%	10.46%	15.26%	-2.18%	-6.50%	3.51%	2.97%	6.89%	5.43%	-4.59%	-1.11%
	0.08	0.13	0.45	0.18	0.12	0.19	0.27	0.28	2.30	0.44	0.60	0.51	0.29
Interest	0.02	0.13	0.02	0.05	0.08	0.03	1.47	0.00	0.10	0.00	0.00	0.00	0.00
Depreciation	0.23	0.34	0.29	0.27	0.18	0.23	0.22	0.17	0.18	0.19	0.20	0.17	0.19
Profit before tax	0.90	0.64	0.03	4.39	1.32	-0.50	-2.81	0.79	2.79	1.64	1.79	-0.78	-0.08
Tax %	3.33%	-3.12%	-233.33%	8.43%	18.18%	-26.00%	-25.62%	25.32%	25.09%	25.00%	25.70%	-25.64%	-25.00%
	0.87	0.67	0.10	4.02	1.08	-0.37	-2.09	0.59	2.09	1.23	1.35	-0.58	-0.06
EPS in Rs	13.63	10.50	1.57	62.99	16.92	-5.80	-32.75	9.24	32.75	19.27	21.15	-9.09	-0.94
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	241.56	237.90	203.36	119.62	201.32	233.85	269.62	150.02	97.95	85.97	93.92	91.07	86.40
	235.07	231.80	201.64	119.12	198.57	230.75	266.01	149.12	98.00	85.92	89.33	86.57	84.92
Operating Profit	6.49	6.10	1.72	0.50	2.75	3.10	3.61	0.90	-0.05	0.05	4.59	4.50	1.48
OPM %	2.69%	2.56%	0.85%	0.42%	1.37%	1.33%	1.34%	0.60%	-0.05%	0.06%	4.89%	4.94%	1.71%
	0.49	0.40	0.96	0.43	0.61	0.52	0.50	0.81	0.46	0.72	0.42	3.55	1.84
Interest	0.90	0.65	0.62	0.30	0.13	0.46	0.49	0.43	0.38	0.23	1.71	0.30	0.00
Depreciation	1.80	1.47	1.77	0.95	0.82	0.90	0.84	1.34	1.43	1.08	0.90	0.75	0.75
Profit before tax	4.28	4.38	0.29	-0.32	2.41	2.26	2.78	-0.06	-1.40	-0.54	2.40	7.00	2.57
Tax %	33.88%	32.19%	106.90%	-3.12%	26.56%	29.65%	33.81%	366.67%	30.00%	-9.26%	-10.42%	25.14%
	2.83	2.98	-0.03	-0.31	1.77	1.59	1.84	-0.26	-1.82	-0.49	2.64	5.25	1.94
EPS in Rs	44.34	46.69	-0.47	-4.86	27.73	24.91	28.83	-4.07	-28.52	-7.68	41.37	82.26	30.39
Dividend Payout %	11.31%	10.74%	-426.67%	-41.29%	7.23%	8.05%	8.70%	0.00%	0.00%	0.00%	6.06%	3.05%

Compounded Sales Growth
10 Years:	-9%
5 Years:	-20%
3 Years:	-2%
TTM:	0%

Compounded Profit Growth
10 Years:	5%
5 Years:	21%
3 Years:	66%
TTM:	782%

Stock Price CAGR
10 Years:	9%
5 Years:	25%
3 Years:	52%
1 Year:	-10%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	7%
Last Year:	12%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
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	27.82	30.41	30.11	29.56	31.25	32.65	34.38	33.78	32.12	31.88	34.67	39.67	38.83
	5.50	3.25	9.05	0.00	0.00	5.00	1.20	4.00	3.47	2.84	0.00	0.00	0.00
	25.23	17.32	9.69	6.98	15.77	16.92	18.82	11.96	5.28	7.54	10.89	9.51	10.28
Total Liabilities	59.19	51.62	49.49	37.18	47.66	55.21	55.04	50.38	41.51	42.90	46.20	49.82	49.75
	7.10	6.17	5.24	4.51	4.59	4.29	6.66	7.90	6.54	7.34	4.59	4.18	4.16
CWIP	0.06	0.00	0.00	0.00	0.16	1.61	0.06	0.00	0.00	0.00	0.09	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	17.05	18.65	17.65
	52.03	45.45	44.25	32.67	42.91	49.31	48.32	42.48	34.97	35.56	24.47	26.99	27.94
Total Assets	59.19	51.62	49.49	37.18	47.66	55.21	55.04	50.38	41.51	42.90	46.20	49.82	49.75

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	8.56	-0.70	-4.79	10.08	0.59	-2.30	5.65	-0.20	2.20	2.78	17.25	3.91
	-0.31	-0.47	-1.03	-0.13	-1.04	-2.05	-1.19	-1.86	0.29	-1.31	-14.65	-1.11
	-8.72	0.96	5.69	-9.49	-0.03	4.41	-4.31	2.26	-0.81	-0.81	-4.47	-0.26
Net Cash Flow	-0.47	-0.21	-0.12	0.47	-0.48	0.07	0.15	0.20	1.68	0.67	-1.86	2.54

Ratios

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	12.45	5.25	14.25	18.86	12.33	20.48	17.04	22.80	52.13	46.66	20.87	28.70
Inventory Days	48.19	40.70	55.01	62.32	48.35	48.24	44.95	83.04	63.63	106.78	85.34	83.16
Days Payable	38.67	32.35	17.26	16.97	34.54	30.85	22.08	25.19	12.98	33.98	46.70	51.41
Cash Conversion Cycle	21.98	13.60	52.00	64.21	26.14	37.86	39.91	80.65	102.78	119.46	59.51	60.44
Working Capital Days	23.10	32.08	51.01	57.94	38.29	40.64	31.12	58.15	76.73	94.89	38.40	44.57
ROCE %	15.24%	14.83%	1.94%	-0.09%	8.18%	7.75%	8.70%	-0.13%	-2.73%	-0.87%	12.14%	17.32%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	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%	25.13%	25.14%	25.14%	25.14%	25.15%	25.14%	25.14%	25.14%	25.14%
No. of Shareholders	1,857	1,804	1,791	1,828	1,736	1,716	1,731	1,726	1,709	1,717	1,791	2,078

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	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%
	0.00%	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.14%	23.15%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%
No. of Shareholders	2,340	2,065	2,018	1,943	1,870	1,804	1,716	1,717	2,078

* 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.

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