Bajaj Steel Industries Ltd

About

Bajaj Steel manufactures machinery for Cotton ginning and Pressing Machinery, Prefabricated building structures, components & allied products, and Master Batches. [1]

Key Points

History
The company was established by Late Shri Gangabisenji Bajaj in 1961 and is now run by his son Shri Hargovind Bajaj. The company has entered into technical collaboration for manufacturing of saw gin, rotobar gin and other equipment earlier manufactured by Continental Eagle Corporation, USA to manufacture them in India. [1]

See full details
  • Market Cap 525 Cr.
  • Current Price 1,010
  • High / Low 1,503 / 207
  • Stock P/E 7.33
  • Book Value 330
  • Dividend Yield 0.00 %
  • ROCE 48.8 %
  • ROE 48.0 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 83.87% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.11%

Cons

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
124 107 83 97 148 102 74 82 144 160 125 121
113 100 79 92 134 93 64 71 128 134 85 104
Operating Profit 12 8 4 5 14 9 10 11 16 27 39 18
OPM % 9% 7% 5% 5% 9% 9% 13% 13% 11% 17% 32% 15%
Other Income 2 2 4 2 2 2 3 0 5 1 4 1
Interest 2 2 4 2 2 2 2 2 2 2 4 2
Depreciation 1 1 0 1 1 1 3 2 2 2 2 2
Profit before tax 11 6 4 4 13 9 7 8 17 24 38 15
Tax % 21% 29% -28% 23% 24% 18% 25% 25% 26% 25% 22% 25%
Net Profit 9 4 5 3 10 7 5 6 13 18 30 11
EPS in Rs 18.21 9.32 10.70 6.34 20.34 14.81 10.72 12.53 24.67 33.88 57.31 21.92

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
284 413 334 307 237 247 376 414 511 550
270 384 316 297 235 226 345 376 418 451
Operating Profit 14 28 17 10 2 22 31 38 93 99
OPM % 5% 7% 5% 3% 1% 9% 8% 9% 18% 18%
Other Income 3 5 4 7 2 4 5 9 10 11
Interest 7 7 9 9 9 9 10 9 9 9
Depreciation 6 9 13 11 8 6 4 6 7 7
Profit before tax 5 17 1 -4 -13 10 23 32 87 94
Tax % 22% 38% 240% 23% 25% -9% 40% 25% 25%
Net Profit 4 11 -1 -3 -10 11 14 24 66 72
EPS in Rs 8.00 22.43 -2.15 -6.13 -21.36 24.36 29.17 50.30 126.15 137.78
Dividend Payout % 19% 9% -93% 0% 0% 6% 7% 4% 2%
Compounded Sales Growth
10 Years:%
5 Years:11%
3 Years:27%
TTM:36%
Compounded Profit Growth
10 Years:%
5 Years:84%
3 Years:79%
TTM:161%
Stock Price CAGR
10 Years:36%
5 Years:70%
3 Years:100%
1 Year:374%
Return on Equity
10 Years:%
5 Years:25%
3 Years:34%
Last Year:48%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2 2 2 2 2 2 2 2 3
Reserves 58 68 65 62 54 66 78 100 169
Borrowings 53 67 84 81 81 81 75 70 51
78 86 83 97 73 73 104 98 147
Total Liabilities 192 223 234 242 210 223 260 269 369
33 56 54 52 45 51 52 67 80
CWIP 25 4 8 11 13 2 4 1 4
Investments 2 3 5 4 2 1 1 0 4
131 159 168 175 150 168 204 201 281
Total Assets 192 223 234 242 210 223 260 269 369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
14 3 -5 10 -7 6 14 41 89
-13 -10 -14 -10 -0 2 -7 -21 -12
-0 15 14 -2 1 0 -5 -8 -19
Net Cash Flow 1 8 -5 -2 -7 9 2 12 59

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 51 39 53 56 64 73 53 45 49
Inventory Days 102 85 119 147 145 150 131 117 117
Days Payable 74 55 74 105 81 77 68 48 110
Cash Conversion Cycle 79 69 98 97 128 146 116 115 56
Working Capital Days 43 38 67 66 86 93 67 54 21
ROCE % 19% 7% 3% -3% 14% 21% 25% 49%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
36.64 36.64 36.64 36.64 36.64 36.64 36.64 36.64 42.74 42.74 42.74 42.74
0.02 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
63.34 63.34 63.34 63.35 63.35 63.35 63.35 63.35 57.26 57.26 57.26 57.26

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