Steelcast Ltd

Steelcast is engaged in casting manufacturing business.

Pros:
Company has reduced debt.
Company has good consistent profit growth of 127.54% over 5 years
Company has been maintaining a healthy dividend payout of 23.40%
Cons:

Peer Comparison Sector: Castings, Forgings & Fastners // Industry: Castings & Forgings

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Quarterly Results Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
32.10 41.82 46.75 53.03 58.87 72.60 77.06 83.53 78.05 79.29 65.59 58.48
26.42 33.10 37.79 42.31 48.70 59.41 62.06 68.95 63.40 64.77 52.18 46.09
Operating Profit 5.68 8.72 8.96 10.72 10.17 13.19 15.00 14.58 14.65 14.52 13.41 12.39
OPM % 17.69% 20.85% 19.17% 20.21% 17.28% 18.17% 19.47% 17.45% 18.77% 18.31% 20.45% 21.19%
Other Income 0.72 0.08 0.27 0.09 1.23 0.14 0.54 0.53 0.21 0.13 0.09 0.19
Interest 2.63 2.60 2.66 3.25 2.26 2.80 2.71 2.73 2.06 1.95 1.55 1.08
Depreciation 3.11 2.77 3.63 3.72 3.75 3.73 3.93 3.95 3.89 3.88 3.98 4.02
Profit before tax 0.66 3.43 2.94 3.84 5.39 6.80 8.90 8.43 8.91 8.82 7.97 7.48
Tax % -13.64% 42.57% -33.67% -9.64% -6.31% -2.50% 11.01% 50.18% 17.17% 37.98% 45.42% 44.79%
Net Profit 0.75 1.97 3.93 4.21 5.73 6.98 7.92 4.20 7.38 5.47 4.35 4.13
EPS in Rs 0.37 0.97 1.95 2.08 2.83 3.45 3.91 2.07 3.65 2.70 2.15 2.04
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
113.58 128.00 94.95 133.26 237.30 287.35 144.49 79.14 137.04 133.95 231.24 317.92 281.41
98.57 116.04 83.84 117.50 197.84 239.81 118.44 80.43 110.82 108.73 187.70 258.73 226.44
Operating Profit 15.01 11.96 11.11 15.76 39.46 47.54 26.05 -1.29 26.22 25.22 43.54 59.19 54.97
OPM % 13.22% 9.34% 11.70% 11.83% 16.63% 16.54% 18.03% -1.63% 19.13% 18.83% 18.83% 18.62% 19.53%
Other Income 4.29 4.87 1.38 0.54 0.64 1.09 0.69 1.93 0.36 1.26 1.73 1.42 0.62
Interest 4.00 6.14 3.46 4.94 9.96 9.50 11.34 11.58 13.85 10.17 11.47 9.90 6.64
Depreciation 2.83 4.15 4.85 5.13 7.78 10.16 14.82 11.63 12.31 12.09 14.82 15.65 15.77
Profit before tax 12.47 6.54 4.18 6.23 22.36 28.97 0.58 -22.57 0.42 4.22 18.98 35.06 33.18
Tax % 36.89% 41.44% 33.49% 30.50% 36.90% 32.14% 25.86% 17.99% 69.05% 29.38% -9.85% 28.75%
Net Profit 7.87 3.83 2.78 4.33 14.11 19.65 0.43 -18.50 0.13 2.97 20.86 24.98 21.33
EPS in Rs 5.24 2.55 1.75 2.62 8.16 10.90 0.23 0.00 0.07 1.47 10.31 12.34 10.54
Dividend Payout % 16.70% 17.15% 20.67% 18.52% 17.86% 16.05% 0.00% -0.00% 0.00% 40.89% 13.10% 16.20%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.52%
5 Years:17.08%
3 Years:32.38%
TTM:-3.65%
Compounded Profit Growth
10 Years:20.34%
5 Years:127.54%
3 Years:472.55%
TTM:-14.10%
Stock Price CAGR
10 Years:19.37%
5 Years:25.30%
3 Years:22.27%
1 Year:-25.93%
Return on Equity
10 Years:10.35%
5 Years:7.22%
3 Years:18.19%
Last Year:23.43%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
3.65 3.65 3.83 4.01 4.20 8.76 9.15 9.15 10.17 10.12 10.12 10.12 10.12
Reserves 30.51 33.58 36.74 41.19 54.35 67.75 69.92 50.75 61.70 63.92 83.21 104.84 108.30
Borrowings 47.76 43.45 39.75 64.98 84.86 116.32 137.22 143.61 128.01 89.60 92.56 64.43 40.58
35.25 10.74 14.63 19.58 36.63 45.02 26.45 20.54 12.41 46.91 61.52 46.98 51.97
Total Liabilities 117.17 91.42 94.95 129.76 180.04 237.85 242.74 224.05 212.29 210.55 247.41 226.37 210.97
33.87 33.89 37.05 61.31 78.23 116.32 142.35 134.69 133.96 125.28 122.96 116.87 109.44
CWIP 0.11 3.60 0.02 1.31 0.99 5.16 6.79 5.08 0.14 0.52 2.28 0.37 1.32
Investments 1.45 0.15 0.15 0.02 0.02 0.57 0.24 0.27 0.23 0.13 0.10 0.09 0.09
81.74 53.78 57.73 67.12 100.80 115.80 93.36 84.01 77.96 84.62 122.07 109.04 100.12
Total Assets 117.17 91.42 94.95 129.76 180.04 237.85 242.74 224.05 212.29 210.55 247.41 226.37 210.97

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
0.85 20.98 11.14 1.47 12.03 32.06 39.74 3.44 25.73 13.17 54.07
-15.31 -7.26 -4.41 -30.40 -24.28 -52.40 -41.68 -1.71 -6.36 -12.89 -6.86
15.64 -5.55 -5.91 21.28 15.09 20.26 1.99 -5.47 -15.66 -21.64 1.80
Net Cash Flow 1.18 8.17 0.82 -7.65 2.84 -0.08 0.05 -3.74 3.70 -21.36 49.02

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 23.45% 15.60% 9.47% 11.64% 25.51% 22.94% 5.81% -5.46% 7.08% 7.31% 17.41% 24.16%
Debtor Days 97.40 59.74 86.38 80.23 66.96 57.25 86.44 140.11 96.82 94.09 83.33 65.03
Inventory Turnover 5.59 6.72 6.27 6.93 9.01 9.58 5.08 2.87 5.87 6.12 7.10 9.87