Bajaj Steel Industries Ltd

Bajaj Steel Industries is a cotton ginning and pressing machinery manufacturer in India. The Company is also engaged in manufacturing, processing and selling master batches.

Pros:
Stock is trading at 0.67 times its book value
Cons:
The company has delivered a poor growth of -1.83% over past five years.
Company has a low return on equity of 7.91% for last 3 years.

Peer Comparison Sector: Steel // Industry: Steel - Medium / Small

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Mar 2019 Jun 2019
67.33 73.36 96.74
62.98 71.07 91.51
Operating Profit 4.35 2.29 5.23
OPM % 6.46% 3.12% 5.41%
Other Income 0.63 5.24 1.67
Interest 2.01 3.88 2.07
Depreciation 1.26 0.05 0.96
Profit before tax 1.71 3.60 3.87
Tax % 9.36% 23.61% 23.00%
Net Profit 1.55 2.75 2.98
EPS in Rs 6.61 12.02 12.67
Notes Notes Notes

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

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
284.25 412.54 333.65 306.58 237.34 247.48 376.16
270.17 384.18 316.16 297.03 235.15 225.67 344.96
Operating Profit 14.08 28.36 17.49 9.55 2.19 21.81 31.20
OPM % 4.95% 6.87% 5.24% 3.12% 0.92% 8.81% 8.29%
Other Income 3.36 4.73 4.31 6.88 1.89 3.56 5.08
Interest 6.61 7.09 8.54 8.73 9.08 9.03 9.75
Depreciation 5.98 8.88 12.54 11.45 8.39 5.86 3.82
Profit before tax 4.85 17.12 0.72 -3.75 -13.39 10.48 22.71
Tax % 22.27% 38.43% 240.28% 23.20% 25.02% -9.26% 39.63%
Net Profit 3.76 10.54 -1.01 -2.88 -10.04 11.45 13.71
EPS in Rs 15.52 44.16 0.00 0.00 0.00 48.72 58.34
Dividend Payout % 18.75% 8.92% -93.07% -0.00% -0.00% 6.16% 6.86%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:-1.83%
3 Years:7.06%
TTM:52.00%
Compounded Profit Growth
10 Years:%
5 Years:5.54%
3 Years:81.45%
TTM:19.74%
Stock Price CAGR
10 Years:3.82%
5 Years:0.02%
3 Years:17.69%
1 Year:-8.38%
Return on Equity
10 Years:%
5 Years:3.24%
3 Years:7.91%
Last Year:18.39%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2.35 2.35 2.35 2.35 2.35 2.35 2.35
Reserves 58.21 67.54 65.12 62.15 54.17 66.00 78.37
Borrowings 53.38 66.73 84.30 80.57 81.03 81.05 75.42
78.26 86.51 82.10 97.02 72.83 73.18 103.71
Total Liabilities 192.20 223.13 233.87 242.09 210.38 222.58 259.85
33.14 56.33 54.25 51.66 45.16 51.42 53.86
CWIP 25.10 3.90 7.55 11.44 12.79 2.31 3.84
Investments 2.28 3.43 4.83 3.52 2.39 0.68 0.61
131.68 159.47 167.24 175.47 150.04 168.17 201.54
Total Assets 192.20 223.13 233.87 242.09 210.38 222.58 259.85

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
13.84 3.01 -4.67 9.96 -7.39 6.03 14.00
-12.70 -10.11 -13.76 -9.77 -0.19 2.30 -7.19
-0.33 15.17 13.76 -2.30 0.95 0.39 -5.07
Net Cash Flow 0.81 8.07 -4.67 -2.11 -6.63 8.72 1.74

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 19.23% 6.51% 2.97% -2.68% 13.60% 21.25%
Debtor Days 50.67 38.89 53.00 55.59 63.87 73.05 53.49
Inventory Turnover 7.08 5.12 4.28 3.56 4.30 5.58