Precision Electronics Ltd

About [ edit ]

Precision Electronics is engaged in a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high-end telecom equipment.

  • Market Cap 48.7 Cr.
  • Current Price 35.2
  • High / Low 37.2 / 11.4
  • Stock P/E 119
  • Book Value 10.2
  • Dividend Yield 0.00 %
  • ROCE 8.90 %
  • ROE 3.15 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Debtor days have improved from 137.09 to 82.82 days.

Cons

  • Stock is trading at 3.43 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -11.57% for last 3 years.
  • Earnings include an other income of Rs.0.87 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -23.94%
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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
14.50 4.77 11.82 6.09 6.27 11.50 8.96 8.82 7.96 4.86 4.58 22.00
11.08 5.90 13.41 6.43 5.63 10.15 7.52 7.79 8.62 4.14 4.60 19.75
Operating Profit 3.42 -1.13 -1.59 -0.34 0.64 1.35 1.44 1.03 -0.66 0.72 -0.02 2.25
OPM % 23.59% -23.69% -13.45% -5.58% 10.21% 11.74% 16.07% 11.68% -8.29% 14.81% -0.44% 10.23%
Other Income 0.01 0.03 0.02 0.02 0.02 0.01 0.16 0.12 0.15 -0.07 0.32 0.47
Interest 0.48 0.50 0.53 0.58 0.55 0.61 0.63 0.57 0.60 0.42 0.47 0.50
Depreciation 0.21 0.21 0.21 0.21 0.21 0.20 0.20 0.19 0.21 0.20 0.21 0.20
Profit before tax 2.74 -1.81 -2.31 -1.11 -0.10 0.55 0.77 0.39 -1.32 0.03 -0.38 2.02
Tax % 26.64% 25.41% 15.15% 9.91% -330.00% 25.45% 25.97% 25.64% 37.88% 33.33% 0.00% 21.29%
Net Profit 2.01 -1.35 -1.96 -1.00 -0.43 0.41 0.57 0.29 -0.82 0.02 -0.38 1.59
EPS in Rs 1.45 -0.97 -1.42 -0.72 -0.31 0.30 0.41 0.21 -0.59 0.01 -0.27 1.15

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
37.30 29.73 25.37 36.72 20.28 13.26 27.56 25.77 24.09 34.36 28.95 37.24 39.40
33.52 26.92 22.85 33.94 16.64 15.66 25.19 26.30 21.67 34.23 31.36 34.08 37.11
Operating Profit 3.78 2.81 2.52 2.78 3.64 -2.40 2.37 -0.53 2.42 0.13 -2.41 3.16 2.29
OPM % 10.13% 9.45% 9.93% 7.57% 17.95% -18.10% 8.60% -2.06% 10.05% 0.38% -8.32% 8.49% 5.81%
Other Income 1.40 0.17 0.39 0.38 0.09 -0.19 0.20 0.29 0.32 0.09 0.09 0.45 0.87
Interest 0.37 1.08 1.04 1.54 1.11 0.63 0.82 1.06 1.16 1.48 2.16 2.42 1.99
Depreciation 1.51 1.76 1.66 1.50 1.30 1.23 1.54 1.17 1.07 0.93 0.85 0.80 0.82
Profit before tax 3.30 0.14 0.21 0.12 1.32 -4.45 0.21 -2.47 0.51 -2.19 -5.33 0.39 0.35
Tax % -15.45% 85.71% -23.81% 908.33% 32.58% 48.76% -19.05% 21.05% 125.49% 30.59% 11.07% -15.38%
Net Profit 3.81 0.02 0.26 -0.97 0.90 -2.27 0.25 -1.95 -0.12 -1.52 -4.74 0.45 0.41
EPS in Rs 2.75 0.01 0.19 -0.70 0.65 -1.64 0.18 -1.41 -0.09 -1.10 -3.42 0.32 0.30
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:2%
5 Years:6%
3 Years:16%
TTM:11%
Compounded Profit Growth
10 Years:33%
5 Years:11%
3 Years:79%
TTM:-51%
Stock Price CAGR
10 Years:-3%
5 Years:-2%
3 Years:2%
1 Year:178%
Return on Equity
10 Years:-4%
5 Years:-8%
3 Years:-12%
Last Year:3%

Balance Sheet

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 Sep 2020
13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85 13.85
Reserves 19.54 19.42 19.53 18.42 19.17 16.75 16.49 14.39 6.63 5.00 0.17 0.71 0.34
Borrowings 7.65 6.17 6.71 6.62 8.00 3.08 6.86 7.40 9.25 16.35 19.02 15.55 13.27
8.36 4.18 5.85 12.78 9.47 9.12 7.75 9.56 10.59 13.74 11.88 9.36 9.95
Total Liabilities 49.40 43.62 45.94 51.67 50.49 42.80 44.95 45.20 40.32 48.94 44.92 39.47 37.41
26.25 25.00 24.64 24.27 22.83 21.52 19.50 18.26 9.54 8.56 8.01 7.87 8.78
CWIP 0.00 0.02 0.02 0.02 0.02 0.00 0.00 0.00 0.78 1.48 1.48 0.99 0.00
Investments 0.00 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
23.15 18.60 21.22 27.38 27.64 21.28 25.45 26.94 30.00 38.90 35.43 30.61 28.63
Total Assets 49.40 43.62 45.94 51.67 50.49 42.80 44.95 45.20 40.32 48.94 44.92 39.47 37.41

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
3.98 3.98 0.44 4.60 -2.17 6.65 -3.10 -0.53 1.59 -3.56 1.59 7.34
-3.89 -0.61 -1.58 -1.25 -0.02 -0.27 -0.24 0.10 -0.72 -1.21 -0.55 0.14
-0.38 -2.55 -0.48 -1.64 0.26 -5.56 2.95 -0.17 -0.42 4.52 -1.16 -6.50
Net Cash Flow -0.29 0.82 -1.62 1.71 -1.93 0.82 -0.38 -0.60 0.44 -0.24 -0.13 0.98

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 % 9.31% 3.08% 3.17% 4.25% 6.21% -9.13% 2.96% -3.95% 5.08% -2.19% -9.35% 8.90%
Debtor Days 53.82 57.46 83.59 113.12 125.99 77.90 99.99 119.68 110.45 165.29 163.15 82.82
Inventory Turnover 1.67 1.48 1.01 1.86 0.47 0.47 0.84 0.73 0.41 0.76 1.18 1.21

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
74.60 74.60 62.99 50.68 50.68 50.68 50.68 50.68 50.68 50.68 50.68 50.68
0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.08
25.31 25.31 36.92 49.24 49.24 49.24 49.24 49.24 49.24 49.24 49.24 49.24

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