Hardcastle & Waud Mfg Co Ltd

Hardcastle & Waud Mfg Co Ltd

₹ 804 3.22%
24 Jun - close price
About

Incorporated in 1945, Hardcastle & Waud manufacturing Company's business activity currently consists of Industrial Chemicals, Investments and Leasing

Key Points

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.

  • Market Cap 54.7 Cr.
  • Current Price 804
  • High / Low 911 / 0.00
  • Stock P/E 21.2
  • Book Value 655
  • Dividend Yield 0.00 %
  • ROCE 7.00 %
  • ROE 5.98 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 314 days to 127 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 4.05% over last 3 years.

* 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

Sector: Miscellaneous Industry: Miscellaneous

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1.11 0.89 1.55 0.82 0.91 0.65 1.07 1.08 1.11 1.15 1.36 1.61 1.29
0.82 0.38 0.44 0.56 0.55 0.36 0.41 0.51 0.87 0.54 0.68 0.52 0.42
Operating Profit 0.29 0.51 1.11 0.26 0.36 0.29 0.66 0.57 0.24 0.61 0.68 1.09 0.87
OPM % 26.13% 57.30% 71.61% 31.71% 39.56% 44.62% 61.68% 52.78% 21.62% 53.04% 50.00% 67.70% 67.44%
0.01 0.07 0.02 0.04 0.07 0.05 0.04 0.05 0.05 0.11 0.11 0.11 0.11
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 0.13 0.15 0.15 0.14 0.15 0.15 0.16 0.16 0.17 0.17 0.17 0.16 0.16
Profit before tax 0.17 0.43 0.98 0.16 0.28 0.19 0.54 0.46 0.12 0.55 0.62 1.04 0.82
Tax % 5.88% 30.23% 29.59% 56.25% 25.00% -21.05% 25.93% 19.57% 25.00% -5.45% -11.29% 25.96% 32.93%
0.16 0.30 0.69 0.06 0.22 0.23 0.41 0.37 0.09 0.58 0.69 0.77 0.55
EPS in Rs 2.35 4.42 10.15 0.88 3.24 3.38 6.03 5.45 1.32 8.54 10.15 11.33 8.09
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2.74 2.53 3.14 5.47 8.19 4.21 2.89 3.52 3.19 4.16 3.91 5.41
5.26 3.62 3.62 3.48 2.95 2.64 2.53 2.05 2.29 1.92 2.15 2.15
Operating Profit -2.52 -1.09 -0.48 1.99 5.24 1.57 0.36 1.47 0.90 2.24 1.76 3.26
OPM % -91.97% -43.08% -15.29% 36.38% 63.98% 37.29% 12.46% 41.76% 28.21% 53.85% 45.01% 60.26%
1.49 0.95 1.93 0.00 0.16 0.13 0.20 0.17 0.14 0.20 0.19 0.43
Interest 0.14 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.26 0.28 0.32 0.33 0.36 0.39 0.38 0.40 0.47 0.59 0.65 0.67
Profit before tax -1.43 -0.46 1.13 1.66 5.04 1.31 0.18 1.24 0.57 1.85 1.30 3.02
Tax % -1.40% 54.35% -15.93% 689.76% 19.84% 16.03% 38.89% 26.61% 98.25% 31.35% 16.15% 14.57%
-1.45 -0.21 1.30 -9.79 4.04 1.09 0.12 0.90 0.01 1.27 1.10 2.58
EPS in Rs -21.34 -3.09 19.13 -144.08 59.46 16.04 1.77 13.25 0.15 18.69 16.19 37.97
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: 8%
5 Years: 13%
3 Years: 19%
TTM: 38%
Compounded Profit Growth
10 Years: 30%
5 Years: 85%
3 Years: 537%
TTM: 137%
Stock Price CAGR
10 Years: 9%
5 Years: 29%
3 Years: 51%
1 Year: 100%
Return on Equity
10 Years: 1%
5 Years: 3%
3 Years: 4%
Last Year: 6%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
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 43.86 43.66 44.88 35.07 34.95 36.09 36.13 34.42 34.23 39.54 41.08 43.80
2.11 0.00 0.00 0.00 0.00 0.00 0.25 0.05 0.00 0.00 0.00 0.00
0.51 2.77 2.39 3.65 2.48 2.42 2.48 2.50 2.55 3.31 1.54 1.44
Total Liabilities 47.16 47.11 47.95 39.40 38.11 39.19 39.54 37.65 37.46 43.53 43.30 45.92
7.11 6.89 7.44 7.14 9.53 9.41 10.38 11.12 19.31 19.71 20.22 19.66
CWIP 0.13 0.63 0.00 0.00 0.19 0.02 0.00 0.27 0.24 0.10 0.03 0.47
Investments 7.65 6.99 24.55 25.31 19.71 20.41 19.91 16.05 13.04 13.68 19.59 23.06
32.27 32.60 15.96 6.95 8.68 9.35 9.25 10.21 4.87 10.04 3.46 2.73
Total Assets 47.16 47.11 47.95 39.40 38.11 39.19 39.54 37.65 37.46 43.53 43.30 45.92

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-0.67 -2.23 17.25 0.58 -1.65 -0.60 0.65 0.16 1.35 3.21 -2.96 3.08
-1.38 0.13 -17.10 -0.75 1.55 0.53 -0.89 -0.25 -1.25 -3.11 3.07 -1.55
1.95 0.05 0.00 0.00 0.00 0.00 0.25 -0.20 -0.05 0.00 0.00 0.00
Net Cash Flow -0.10 -2.05 0.15 -0.18 -0.10 -0.07 0.01 -0.29 0.05 0.10 0.11 1.54

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 2,444.43 2,520.38 49.98 28.03 15.60 29.48 45.47 26.96 73.23 21.94 10.27 0.00
Inventory Days 0.00 0.00 1.88 0.00 0.00 2.64 9.86 131.81 0.00 0.00 0.00 0.00
Days Payable 20.70 0.00 9.86 40.56
Cash Conversion Cycle 2,444.43 2,520.38 31.17 28.03 15.60 32.12 45.47 118.21 73.23 21.94 10.27 0.00
Working Capital Days 2,489.73 2,246.26 -211.56 -123.45 -82.45 -156.06 -260.17 -157.61 136.16 617.69 196.97 126.84
ROCE % -3.71% -0.92% 3.09% 4.08% 14.12% 3.62% 0.49% 3.43% 1.63% 4.87% 3.15%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
73.47% 73.47% 73.47% 73.47% 73.61% 73.61% 73.61% 73.61% 73.61% 73.61% 73.61% 73.61%
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% 26.30% 26.30% 26.30% 26.31% 26.31% 26.31% 26.31% 26.31%
No. of Shareholders 1,2491,2301,2541,2881,3031,3241,2641,2711,2941,3231,3741,430

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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