Panasonic Carbon India Company Ltd

Panasonic Carbon India Company Ltd

₹ 502 -1.39%
18 Apr - close price
About

Incorporated in 1982, Panasonic Carbon India Company Ltd manufactures Carbon
Rods[1]

Key Points

Business Overview:[1]
Company collaborated with Panasonic Corporation for obtaining Technical know-how and assistance for manufacture and sale of Midget Electrodes (Carbon Rods). Currently, PCICL is a sole manufacturer of high standard Carbon Rods in India and a leading manufacturer of Carbon Rods in the World

  • Market Cap 241 Cr.
  • Current Price 502
  • High / Low 548 / 330
  • Stock P/E 15.1
  • Book Value 307
  • Dividend Yield 2.39 %
  • ROCE 12.4 %
  • ROE 9.13 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 37.6%
  • Debtor days have improved from 31.5 to 20.8 days.

Cons

  • The company has delivered a poor sales growth of 2.72% over past five years.
  • Company has a low return on equity of 12.0% over last 3 years.
  • Earnings include an other income of Rs.9.67 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
12.86 14.97 12.98 12.34 12.07 12.57 14.30 14.32 13.46 8.04 12.60 13.20 13.02
7.73 9.32 8.45 8.82 8.99 8.93 11.19 10.91 10.31 6.88 8.79 9.54 8.91
Operating Profit 5.13 5.65 4.53 3.52 3.08 3.64 3.11 3.41 3.15 1.16 3.81 3.66 4.11
OPM % 39.89% 37.74% 34.90% 28.53% 25.52% 28.96% 21.75% 23.81% 23.40% 14.43% 30.24% 27.73% 31.57%
1.88 2.01 1.92 1.82 1.74 1.21 1.82 1.77 1.84 2.01 2.52 2.57 2.57
Interest -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Depreciation 0.26 0.26 0.25 0.25 0.25 0.25 0.20 0.20 0.20 0.17 0.17 0.18 0.18
Profit before tax 6.75 7.40 6.20 5.09 4.57 4.60 4.73 4.98 4.79 3.00 6.16 6.05 6.50
Tax % 25.33% 25.54% 25.16% 26.13% 26.26% 22.17% 26.00% 25.50% 25.68% 31.33% 25.16% 25.29% 26.00%
5.04 5.50 4.63 3.76 3.37 3.59 3.49 3.71 3.56 2.06 4.61 4.52 4.81
EPS in Rs 10.50 11.46 9.65 7.83 7.02 7.48 7.27 7.73 7.42 4.29 9.60 9.42 10.02
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
22 35 35 41 49 49 44 45 45 49 50 50 47
20 30 29 32 34 31 32 34 30 30 35 39 34
Operating Profit 2 5 5 9 15 18 12 11 15 19 15 11 13
OPM % 8% 14% 16% 22% 32% 36% 28% 25% 34% 38% 30% 22% 27%
4 5 5 6 6 7 7 8 8 8 7 7 10
Interest 0 0 0 0 0 -0 -0 -0 -0 -0 -0 -0 0
Depreciation 0 0 0 1 0 0 1 1 1 1 1 1 1
Profit before tax 6 10 10 14 21 25 18 18 23 25 20 18 22
Tax % 33% 33% 34% 35% 35% 34% 30% 30% 25% 26% 25% 27%
4 7 7 9 13 16 12 12 17 19 15 13 16
EPS in Rs 8.19 13.62 14.27 19.04 28.04 33.52 25.62 25.62 35.31 39.38 31.98 26.73 33.33
Dividend Payout % 86% 51% 49% 42% 36% 30% 39% 39% 28% 30% 38% 45%
Compounded Sales Growth
10 Years: 4%
5 Years: 3%
3 Years: 4%
TTM: -14%
Compounded Profit Growth
10 Years: 7%
5 Years: 1%
3 Years: -9%
TTM: 12%
Stock Price CAGR
10 Years: 13%
5 Years: 8%
3 Years: 6%
1 Year: 40%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 12%
Last Year: 9%

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 5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 51 54 57 61 69 85 91 98 109 123 132 139 143
-0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
8 9 9 11 12 7 7 6 6 6 6 5 6
Total Liabilities 64 68 71 77 86 97 103 109 119 134 143 149 154
4 3 3 3 3 10 9 8 7 6 6 5 5
CWIP -0 -0 -0 -0 -0 -0 0 -0 -0 -0 -0 1 -0
Investments -0 -0 -0 -0 -0 -0 0 -0 -0 -0 -0 -0 -0
60 64 67 74 83 87 93 101 112 128 137 144 149
Total Assets 64 68 71 77 86 97 103 109 119 134 143 149 154

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
-2 3 19 4 8 10 9 8 10 12 8 9
4 5 5 5 5 -4 -4 -2 -4 -7 -2 -5
-4 -4 4 -4 -5 -6 -6 -6 -6 -5 -6 -6
Net Cash Flow -2 4 29 5 9 1 -1 0 -1 0 1 -1

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 37 31 35 35 24 27 22 26 27 36 38 21
Inventory Days 131 76 72 64 63 61 91 58 77 74 63 51
Days Payable 113 104 108 98 76 108 100 85 71 102 60 41
Cash Conversion Cycle 55 4 -1 1 10 -19 13 -1 33 7 41 31
Working Capital Days -21 -22 -18 -16 -22 22 17 9 17 20 931 662
ROCE % 12% 17% 17% 22% 30% 28% 19% 18% 21% 21% 15% 12%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
63.30% 63.30% 63.30% 63.30% 63.30% 63.31% 63.29% 63.29% 63.29% 63.27% 63.27% 63.27%
36.70% 36.70% 36.70% 36.70% 36.70% 36.71% 36.71% 36.71% 36.71% 36.73% 36.73% 36.73%
No. of Shareholders 10,09611,17610,82110,66210,74610,58610,46510,33710,61810,38310,1379,980

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