Hardcastle & Waud Mfg Co Ltd

hawcoindia.in BSE: 509597
About [ edit ]

Hardcastle And Waud Manufacturing Company is engaged in the business of Industrial Chemicals, Investment and Leasing activity.

Website BSE
  • Market Cap ₹ 14.4 Cr.
  • Current Price ₹ 211
  • High / Low ₹ 248 / 141
  • Stock P/E 27.1
  • Book Value ₹ 516
  • Dividend Yield 0.00 %
  • ROCE 3.43 %
  • ROE 2.50 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.41 times its book value
  • Debtor days have improved from 33.97 to 26.96 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 2.31% over past five years.
  • Company has a low return on equity of 1.94% for last 3 years.

Peer comparison

Sector: Paints/Varnish Industry: Paints / Varnishes

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1.15 0.69 0.52 0.80 0.88 0.58 0.56 0.91 1.47 0.53 0.76 0.79
0.64 0.73 0.59 0.65 0.54 0.55 0.32 0.62 0.55 0.36 0.51 0.60
Operating Profit 0.51 -0.04 -0.07 0.15 0.34 0.03 0.24 0.29 0.92 0.17 0.25 0.19
OPM % 44.35% -5.80% -13.46% 18.75% 38.64% 5.17% 42.86% 31.87% 62.59% 32.08% 32.89% 24.05%
Other Income 0.03 0.11 0.03 0.03 0.03 0.03 0.07 0.03 0.03 0.03 0.04 0.05
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
Depreciation 0.10 0.09 0.08 0.10 0.10 0.10 0.10 0.10 0.11 0.10 0.11 0.13
Profit before tax 0.44 -0.02 -0.12 0.08 0.27 -0.04 0.21 0.22 0.84 0.10 0.18 0.11
Tax % 122.73% 100.00% -8.33% -25.00% 37.04% -275.00% 4.76% 18.18% 21.43% 420.00% 38.89% 45.45%
Net Profit -0.10 0.00 -0.14 0.09 0.17 -0.15 0.20 0.18 0.67 -0.32 0.12 0.06
EPS in Rs -1.47 0.00 -2.06 1.32 2.50 -2.21 2.94 2.65 9.86 -4.71 1.77 0.88
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
11.56 10.00 4.39 1.86 2.74 2.53 3.14 5.47 8.19 4.21 2.89 3.52 3.55
12.76 10.05 4.98 21.36 5.24 3.62 3.62 3.48 2.95 2.64 2.53 2.05 2.02
Operating Profit -1.20 -0.05 -0.59 -19.50 -2.50 -1.09 -0.48 1.99 5.24 1.57 0.36 1.47 1.53
OPM % -10.38% -0.50% -13.44% -1,048.39% -91.24% -43.08% -15.29% 36.38% 63.98% 37.29% 12.46% 41.76% 43.10%
Other Income 2.28 1.80 2.45 19.90 1.47 0.95 1.93 0.00 0.16 0.13 0.20 0.17 0.15
Interest 0.15 0.11 0.03 0.01 0.14 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.34 0.35 0.59 0.23 0.26 0.28 0.32 0.33 0.36 0.39 0.38 0.40 0.45
Profit before tax 0.59 1.29 1.24 0.16 -1.43 -0.46 1.13 1.66 5.04 1.31 0.18 1.24 1.23
Tax % 1.69% 58.14% -1.61% -6,037.50% -1.40% 54.35% -15.93% 689.76% 19.84% 16.03% 38.89% 26.61%
Net Profit 0.58 0.54 1.26 9.81 -1.45 -0.21 1.30 -9.79 4.04 1.09 0.12 0.90 0.53
EPS in Rs 144.37 -21.34 -3.09 19.13 -144.08 59.46 16.04 1.77 13.25 7.80
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:-10%
5 Years:2%
3 Years:-25%
TTM:21%
Compounded Profit Growth
10 Years:7%
5 Years:-10%
3 Years:-39%
TTM:33%
Stock Price CAGR
10 Years:-9%
5 Years:-6%
3 Years:-19%
1 Year:32%
Return on Equity
10 Years:2%
5 Years:-2%
3 Years:2%
Last Year:3%

Balance Sheet

Figures in Rs. Crores

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
0.61 0.61 0.61 0.68 0.68 0.68 0.68 0.68 0.68 0.68 0.68 0.68 0.68
Reserves 26.16 26.74 27.99 45.30 43.86 43.66 44.88 35.07 34.95 36.09 36.13 34.42 34.40
Borrowings 1.46 8.61 0.33 0.16 2.11 0.00 0.00 0.00 0.00 0.00 0.25 0.05 0.00
0.83 1.02 8.05 0.25 0.51 2.77 2.39 3.65 2.48 2.42 2.48 2.50 2.75
Total Liabilities 29.06 36.98 36.98 46.39 47.16 47.11 47.95 39.40 38.11 39.19 39.54 37.65 37.83
5.84 5.78 4.59 4.38 7.11 6.89 7.44 7.14 9.53 9.41 10.38 11.12 18.69
CWIP 0.00 0.00 0.00 0.00 0.13 0.63 0.00 0.00 0.19 0.02 0.00 0.27 0.52
Investments 13.19 12.72 12.40 10.64 7.65 6.99 24.55 25.31 19.71 20.41 19.91 16.05 15.78
10.03 18.48 19.99 31.37 32.27 32.60 15.96 6.95 8.68 9.35 9.25 10.21 2.84
Total Assets 29.06 36.98 36.98 46.39 47.16 47.11 47.95 39.40 38.11 39.19 39.54 37.65 37.83

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-3.68 2.93 2.53 -17.68 -0.67 -2.23 17.25 0.58 -1.65 -0.60 0.65 0.16
-0.24 -5.88 2.08 1.29 -1.38 0.13 -17.10 -0.75 1.55 0.53 -0.89 -0.18
-0.76 8.45 -8.85 16.27 1.95 0.05 0.00 0.00 0.00 0.00 0.25 -0.20
Net Cash Flow -4.68 5.50 -4.24 -0.12 -0.10 -2.05 0.15 -0.18 -0.10 -0.07 0.01 -0.22

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 1.24% 3.65% 2.47% 1.94% -3.71% -0.92% 3.09% 4.08% 14.12% 3.62% 0.49% 3.43%
Debtor Days 41.68 21.54 16.63 3,610.75 2,444.43 2,520.38 49.98 28.03 15.60 29.48 45.47 26.96
Inventory Turnover 5.24 3.84 3.91 324.00 426.00 382.00 294.00 60.00 5.66

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47
0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08
26.45 26.45 26.45 26.45 26.45 26.45 26.45 26.45 26.45 26.45 26.45 26.45

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