Gujarat Poly Electronics Ltd

₹ 105 4.83%

11 Dec 4:00 p.m.

About

Incorporated in 1992, Gujarat POLY Electronics Ltd (GPEL) manufactures and trades Multilayer and Single-layer Ceramic Capacitors^[1]

Key Points

Business Overview:^[1]^[2]
Company manufactures Capacitors and Varistors. It deals in Active and Passive electronic components, specializing in Ceramic Capacitors both low & high voltage Single Layer (Disc) and Multilayer (MLCC) in Radial, Axial and SMD configurations. Company outsources these products through import suppliers and have also started marketing /trading other types of capacitors & Diodes for Diotec Semiconductors as a dealer

Website BSE

Market Cap ₹ 89.5 Cr.
Current Price ₹ 105
High / Low ₹ 146 / 57.1
Stock P/E 41.1
Book Value ₹ 12.1
Dividend Yield 0.00 %
ROCE 10.2 %
ROE 26.3 %
Face Value ₹ 10.0

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Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 36.0%

Cons

Stock is trading at 8.68 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -1.24%
The company has delivered a poor sales growth of -5.58% over past five years.
Tax rate seems low
Earnings include an other income of Rs.0.80 Cr.
Working capital days have increased from -9.12 days to 123 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

Sector: Trading Industry: Trading

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	3.85	4.15	3.75	4.01	3.98	3.90	4.08	4.84	3.99	3.77	4.31	4.86	4.69
	3.37	3.60	3.47	3.67	3.69	3.56	3.96	4.25	3.77	3.48	4.06	4.26	4.19
Operating Profit	0.48	0.55	0.28	0.34	0.29	0.34	0.12	0.59	0.22	0.29	0.25	0.60	0.50
OPM %	12.47%	13.25%	7.47%	8.48%	7.29%	8.72%	2.94%	12.19%	5.51%	7.69%	5.80%	12.35%	10.66%
	0.07	0.06	0.01	0.05	2.85	0.11	1.43	0.19	0.16	0.16	0.21	0.21	0.22
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01
Depreciation	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.05	0.05	0.05	0.05	0.05	0.05
Profit before tax	0.50	0.56	0.24	0.34	3.09	0.40	1.49	0.72	0.32	0.39	0.40	0.75	0.66
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-80.00%	32.00%	15.15%
	0.49	0.56	0.23	0.33	3.08	0.39	1.49	0.72	0.33	0.39	0.72	0.51	0.56
EPS in Rs	0.57	0.65	0.27	0.39	3.60	0.46	1.74	0.84	0.39	0.46	0.84	0.60	0.65
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	TTM
	9.55	10.29	11.16	11.53	12.21	14.40	22.55	13.60	13.61	15.29	15.97	16.92	17.63
	9.16	9.66	10.68	10.50	11.59	13.20	16.51	12.20	12.49	13.60	14.87	15.57	15.99
Operating Profit	0.39	0.63	0.48	1.03	0.62	1.20	6.04	1.40	1.12	1.69	1.10	1.35	1.64
OPM %	4.08%	6.12%	4.30%	8.93%	5.08%	8.33%	26.78%	10.29%	8.23%	11.05%	6.89%	7.98%	9.30%
	-2.01	0.04	0.06	0.05	-0.01	0.08	-0.16	0.03	0.10	0.17	4.44	0.72	0.80
Interest	0.26	0.51	0.58	0.56	0.54	0.51	0.31	0.02	0.01	0.01	0.02	0.03	0.04
Depreciation	0.20	0.16	0.14	0.13	0.12	0.10	0.14	0.19	0.22	0.21	0.22	0.19	0.20
Profit before tax	-2.08	0.00	-0.18	0.39	-0.05	0.67	5.43	1.22	0.99	1.64	5.30	1.85	2.20
Tax %	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-17.30%
	-2.08	0.00	-0.17	0.39	-0.04	0.67	5.42	1.22	0.99	1.63	5.30	2.16	2.18
EPS in Rs	-2.43	0.00	-0.20	0.46	-0.05	0.78	6.34	1.43	1.16	1.91	6.20	2.53	2.55
Dividend Payout %	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:	5%
5 Years:	-6%
3 Years:	8%
TTM:	5%

Compounded Profit Growth
10 Years:	%
5 Years:	-18%
3 Years:	26%
TTM:	-26%

Stock Price CAGR
10 Years:	31%
5 Years:	73%
3 Years:	92%
1 Year:	42%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	36%
Last Year:	26%

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	Sep 2024
Equity Capital	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55	8.55
Reserves	-16.45	-16.44	-16.63	-16.24	-16.48	-15.80	-10.39	-9.22	-8.17	-6.58	-1.41	0.71	1.76
	12.58	14.29	14.28	14.52	4.46	4.42	0.80	0.14	0.11	0.07	10.22	10.23	10.21
	3.01	1.59	2.15	2.03	12.10	11.80	10.83	11.12	11.71	10.90	1.67	2.08	1.72
Total Liabilities	7.69	7.99	8.35	8.86	8.63	8.97	9.79	10.59	12.20	12.94	19.03	21.57	22.24
	2.28	2.20	2.11	2.00	1.78	1.69	1.78	2.13	1.95	1.82	1.65	1.64	1.58
CWIP	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
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.03	9.92	10.30
	5.41	5.79	6.24	6.86	6.85	7.28	8.01	8.46	10.25	11.12	9.35	10.01	10.36
Total Assets	7.69	7.99	8.35	8.86	8.63	8.97	9.79	10.59	12.20	12.94	19.03	21.57	22.24

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
	0.23	0.19	0.36	1.11	0.15	1.13	4.59	3.01	0.55	0.91	0.79	2.40
	-0.01	-0.07	-0.06	0.01	-0.01	-0.01	-0.70	-0.27	-0.24	-1.27	-0.78	-0.68
	-0.29	-0.02	-0.28	-1.06	-0.27	-1.06	-3.93	-0.81	-0.01	-0.01	-0.07	-0.02
Net Cash Flow	-0.07	0.10	0.03	0.06	-0.13	0.06	-0.05	1.93	0.30	-0.37	-0.06	1.70

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	96.70	96.84	98.12	102.25	89.68	102.15	78.50	97.69	118.00	87.13	104.68	88.66
Inventory Days	168.46	160.75	151.20	144.82	148.65	116.59	72.88	92.72	103.42	117.49	108.89	97.56
Days Payable	68.56	48.34	49.87	74.38	37.05	39.14	2.96	12.66	33.18	1.57	4.30	28.65
Cash Conversion Cycle	196.60	209.24	199.45	172.69	201.28	179.60	148.42	177.75	188.24	203.05	209.27	157.57
Working Capital Days	89.05	144.37	132.46	149.42	-159.63	-118.37	-46.62	-124.80	-117.20	-83.79	-66.97	123.39
ROCE %	4.01%	9.21%	6.35%	14.27%	36.31%					130.43%	12.78%	10.20%

Shareholding Pattern

Numbers in percentages

4 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	59.80%	59.25%	58.91%	58.06%	53.99%	53.99%	53.99%	53.99%	53.99%	53.99%	53.33%	52.09%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	40.18%	40.74%	41.07%	41.91%	46.00%	45.99%	45.99%	45.99%	46.00%	45.99%	46.65%	47.89%
No. of Shareholders	22,552	22,909	22,824	22,894	23,491	23,587	23,827	23,809	24,123	24,043	24,691	24,514

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	59.80%	59.80%	59.80%	59.80%	59.80%	59.25%	53.99%	53.99%	52.09%
	3.83%	3.83%	0.78%	0.65%	0.65%	0.02%	0.02%	0.02%	0.02%
	36.37%	36.37%	39.41%	39.55%	39.55%	40.74%	45.99%	45.99%	47.89%
No. of Shareholders	22,697	22,596	22,681	22,486	22,430	22,909	23,587	24,043	24,514

* 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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Gujarat Poly Electronics Ltd

Gujarat Poly Electronics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports