KPT Industries Ltd

Kulkarni Power Tools Limited is engaged in the business of electric power tools and roots (positive displacement) blowers/exhausters.

Pros:
Stock is trading at 0.79 times its book value
Cons:
Company has low interest coverage ratio.
Tax rate seems low
Company has a low return on equity of 0.65% for last 3 years.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Engineering

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
17.93 14.70 20.14 14.96 21.95 23.58 25.96 25.78 24.10 25.84 29.67 25.99
16.41 14.31 20.89 13.64 19.54 21.16 22.00 22.87 21.45 22.92 26.63 23.10
Operating Profit 1.52 0.39 -0.75 1.32 2.41 2.42 3.96 2.91 2.65 2.92 3.04 2.89
OPM % 8.48% 2.65% -3.72% 8.82% 10.98% 10.26% 15.25% 11.29% 11.00% 11.30% 10.25% 11.12%
Other Income 0.12 0.21 4.26 0.22 0.23 0.18 0.12 0.17 0.19 0.18 0.41 0.17
Interest 1.18 1.28 1.40 1.26 1.37 1.39 1.51 1.37 1.43 1.51 1.61 1.36
Depreciation 0.91 0.91 0.92 0.86 0.85 0.84 0.80 0.78 0.79 0.76 0.71 0.67
Profit before tax -0.45 -1.59 1.19 -0.58 0.42 0.37 1.77 0.93 0.62 0.83 1.13 1.03
Tax % 35.56% 1.89% -21.85% 24.14% -97.62% -13.51% 9.04% -17.20% -50.00% 21.69% 20.35% 26.21%
Net Profit -0.29 -1.56 1.45 -0.44 0.83 0.42 1.61 1.09 0.93 0.65 0.90 0.76
EPS in Rs -0.85 -4.59 4.26 -1.29 2.42 1.24 4.74 3.21 2.74 1.91 2.65 2.24
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
57.67 61.19 63.93 87.05 88.92 85.64 88.88 85.36 64.67 68.25 86.16 104.64 105.60
48.25 53.38 50.83 74.13 77.83 75.61 81.62 77.49 64.74 66.41 75.96 93.04 94.10
Operating Profit 9.42 7.81 13.10 12.92 11.09 10.03 7.26 7.87 -0.07 1.84 10.20 11.60 11.50
OPM % 16.33% 12.76% 20.49% 14.84% 12.47% 11.71% 8.17% 9.22% -0.11% 2.70% 11.84% 11.09% 10.89%
Other Income 0.68 1.92 0.31 0.20 -1.15 -0.29 0.54 0.41 0.76 4.95 0.78 0.86 0.95
Interest 2.92 2.96 2.91 3.84 4.09 3.99 3.81 4.37 4.52 5.07 5.53 5.92 5.91
Depreciation 2.63 3.02 3.36 3.58 3.84 3.88 3.89 3.75 3.74 3.66 3.34 3.04 2.93
Profit before tax 4.55 3.75 7.14 5.70 2.01 1.87 0.10 0.16 -7.57 -1.94 2.11 3.50 3.61
Tax % 25.49% 27.47% 35.29% 31.93% 31.84% 25.67% -160.00% -75.00% 5.55% 31.96% -15.17% -1.71%
Net Profit 3.39 2.72 4.62 3.88 1.37 1.39 0.27 0.28 -7.16 -1.32 2.42 3.57 3.24
EPS in Rs 9.71 7.85 13.24 11.09 3.91 3.93 0.70 0.72 0.00 0.00 7.13 10.49 9.54
Dividend Payout % 15.04% 12.50% 14.72% 17.53% 15.51% 24.46% 62.96% 60.71% -0.00% -0.00% 0.00% 7.14%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:5.51%
5 Years:3.32%
3 Years:17.40%
TTM:8.56%
Compounded Profit Growth
10 Years:4.73%
5 Years:67.12%
3 Years:35.24%
TTM:-17.97%
Stock Price CAGR
10 Years:2.97%
5 Years:7.75%
3 Years:20.77%
1 Year:-1.78%
Return on Equity
10 Years:2.49%
5 Years:-6.07%
3 Years:0.65%
Last Year:15.82%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70
Reserves 14.94 17.26 21.09 24.18 25.30 26.29 26.36 26.30 19.14 17.13 19.61 23.13
Borrowings 34.71 29.62 36.70 41.85 43.12 40.54 39.41 42.96 41.03 40.68 43.38 40.16
16.89 15.28 21.65 25.22 22.66 25.55 24.11 26.00 22.29 24.74 25.83 27.67
Total Liabilities 68.24 63.86 81.14 92.95 92.78 94.08 91.58 96.96 84.16 84.25 90.52 92.66
31.29 31.00 41.03 39.68 41.90 39.82 36.61 34.27 32.06 28.09 26.03 23.36
CWIP 1.37 1.44 0.05 0.09 0.28 0.13 0.13 0.51 0.53 0.01 0.03 0.10
Investments 0.07 0.07 0.07 0.07 0.07 0.07 0.09 0.11 0.13 0.14 0.33 0.38
35.51 31.35 39.99 53.11 50.53 54.06 54.75 62.07 51.44 56.01 64.13 68.82
Total Assets 68.24 63.86 81.14 92.95 92.78 94.08 91.58 96.96 84.16 84.25 90.52 92.66

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
4.80 12.36 5.43 2.60 9.39 7.58 5.96 3.23 8.13 10.30 4.30 11.38
-7.78 -2.30 -10.15 -2.84 -5.90 -0.81 -0.72 -1.95 -1.67 -5.40 -1.39 -1.83
2.90 -8.73 3.88 0.59 -3.38 -6.78 -5.37 -0.99 -6.69 -4.16 -3.04 -9.59
Net Cash Flow -0.08 1.33 -0.84 0.35 0.11 -0.01 -0.13 0.29 -0.23 0.74 -0.14 -0.04

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16.55% 12.19% 19.41% 15.17% 10.79% 9.17% 5.76% 6.56% -5.42% -1.99% 12.30% 14.68%
Debtor Days 105.89 85.24 110.42 97.11 97.74 103.70 111.78 120.24 131.22 90.38 94.81 99.34
Inventory Turnover 5.28 6.13 5.46 4.71 4.33 4.14 4.29 3.87 2.82 3.30 3.63 4.07