Hardcastle & Waud Mfg Co Ltd
Incorporated in 1945, Hardcastle & Waud manufacturing Company's business activity currently consists of Industrial Chemicals, Investments and Leasing
- Market Cap ₹ 48.6 Cr.
- Current Price ₹ 714
- High / Low ₹ 1,178 / 600
- Stock P/E 37.7
- Book Value ₹ 670
- Dividend Yield 0.00 %
- ROCE 6.20 %
- ROE 2.87 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 1.07 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 10.8% over past five years.
- Company has a low return on equity of 3.84% over last 3 years.
- Debtor days have increased from 24.0 to 37.8 days.
* 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
Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2.53 | 3.14 | 5.47 | 8.19 | 4.21 | 2.89 | 3.52 | 3.19 | 4.16 | 3.91 | 5.41 | 5.89 | |
3.62 | 3.62 | 3.48 | 2.95 | 2.64 | 2.53 | 2.05 | 2.29 | 1.92 | 2.15 | 2.15 | 2.82 | |
Operating Profit | -1.09 | -0.48 | 1.99 | 5.24 | 1.57 | 0.36 | 1.47 | 0.90 | 2.24 | 1.76 | 3.26 | 3.07 |
OPM % | -43.08% | -15.29% | 36.38% | 63.98% | 37.29% | 12.46% | 41.76% | 28.21% | 53.85% | 45.01% | 60.26% | 52.12% |
0.95 | 1.93 | 0.00 | 0.16 | 0.13 | 0.20 | 0.17 | 0.14 | 0.20 | 0.19 | 0.43 | 0.44 | |
Interest | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Depreciation | 0.28 | 0.32 | 0.33 | 0.36 | 0.39 | 0.38 | 0.40 | 0.47 | 0.59 | 0.65 | 0.67 | 0.72 |
Profit before tax | -0.46 | 1.13 | 1.66 | 5.04 | 1.31 | 0.18 | 1.24 | 0.57 | 1.85 | 1.30 | 3.02 | 2.79 |
Tax % | -54.35% | -15.93% | 689.76% | 19.84% | 16.03% | 38.89% | 26.61% | 98.25% | 31.35% | 16.15% | 14.57% | 53.76% |
-0.21 | 1.30 | -9.79 | 4.04 | 1.09 | 0.12 | 0.90 | 0.01 | 1.27 | 1.10 | 2.58 | 1.29 | |
EPS in Rs | -3.09 | 19.13 | -144.08 | 59.46 | 16.04 | 1.77 | 13.25 | 0.15 | 18.69 | 16.19 | 37.97 | 18.98 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 11% |
3 Years: | 12% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | -2% |
5 Years: | 7% |
3 Years: | 1% |
TTM: | -50% |
Stock Price CAGR | |
---|---|
10 Years: | 7% |
5 Years: | 30% |
3 Years: | 34% |
1 Year: | -39% |
Return on Equity | |
---|---|
10 Years: | 1% |
5 Years: | 3% |
3 Years: | 4% |
Last Year: | 3% |
Balance Sheet
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 |
Reserves | 43.66 | 44.88 | 35.07 | 34.95 | 36.09 | 36.13 | 34.42 | 34.23 | 39.54 | 41.08 | 43.80 | 44.84 |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
2.77 | 2.39 | 3.65 | 2.48 | 2.42 | 2.48 | 2.50 | 2.55 | 3.31 | 1.55 | 1.44 | 3.14 | |
Total Liabilities | 47.11 | 47.95 | 39.40 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.66 |
6.89 | 7.44 | 7.14 | 9.53 | 9.41 | 10.38 | 11.12 | 19.31 | 19.71 | 20.22 | 19.65 | 20.53 | |
CWIP | 0.63 | 0.00 | 0.00 | 0.19 | 0.02 | 0.00 | 0.27 | 0.24 | 0.10 | 0.03 | 0.47 | 0.22 |
Investments | 6.99 | 24.55 | 25.31 | 19.71 | 20.41 | 19.91 | 16.05 | 13.04 | 13.68 | 19.59 | 23.06 | 26.45 |
32.60 | 15.96 | 6.95 | 8.68 | 9.35 | 9.25 | 10.21 | 4.87 | 10.04 | 3.47 | 2.74 | 1.46 | |
Total Assets | 47.11 | 47.95 | 39.40 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.66 |
Cash Flows
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-2.23 | 17.25 | 0.58 | -1.65 | -0.60 | 0.65 | 0.16 | 1.35 | 3.21 | -2.96 | 3.08 | 0.69 | |
0.13 | -17.10 | -0.75 | 1.55 | 0.53 | -0.89 | -0.25 | -1.25 | -3.11 | 3.07 | -1.55 | -2.40 | |
0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | -0.20 | -0.05 | 0.00 | 0.00 | 0.00 | 0.00 | |
Net Cash Flow | -2.05 | 0.15 | -0.18 | -0.10 | -0.07 | 0.01 | -0.29 | 0.05 | 0.10 | 0.11 | 1.54 | -1.71 |
Ratios
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 2,520.38 | 49.98 | 28.03 | 15.60 | 29.48 | 45.47 | 26.96 | 73.23 | 21.94 | 10.27 | 0.00 | 37.80 |
Inventory Days | 0.00 | 1.88 | 0.00 | 0.00 | 2.64 | 9.86 | 131.81 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Days Payable | 20.70 | 0.00 | 9.86 | 40.56 | ||||||||
Cash Conversion Cycle | 2,520.38 | 31.17 | 28.03 | 15.60 | 32.12 | 45.47 | 118.21 | 73.23 | 21.94 | 10.27 | 0.00 | 37.80 |
Working Capital Days | 2,246.26 | -211.56 | -123.45 | -82.45 | -156.06 | -260.17 | -157.61 | 136.16 | 617.69 | 205.37 | -8.10 | 104.11 |
ROCE % | -0.92% | 3.09% | 4.08% | 14.12% | 3.62% | 0.49% | 3.43% | 1.63% | 4.87% | 3.15% | 7.00% | 6.20% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 27 Jun
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 27 Jun
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 27 Jun
- Closure of Trading Window 26 Jun
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Outcome Of Litigation.
25 Jun - Lost eviction appeal against Cricket Club of India; financial impact yet undetermined.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Business Overview:[1]
Hardcastle & Waud Manufacturing Company manufactures powder paints used in powder coatings (mainly for consumer durables like washing machines) varnishes and synthetic resins.
The company was appointed by WD-40-Company US to exclusively market its products in India. It signed a joint venture agreement with Soudal Belgium to manufacture various types of adhesives sealants and roofing compounds.