Keerthi Industries Ltd

Keerthi Industries Ltd

₹ 143 4.71%
01 Mar 1:45 p.m.
About

Incorporated in 1982, Keerthi Industries Ltd manufactures cement, printed circuit boards and does generation of wind power[1]

Key Points

Business Divisions:[1]
a) Cement Division:[2]
Company manufactures 43 & 53 grade OPC and PPC Cement under the brand of Suvarna and sells in south India
b) Power Division:[3]
Company had invested in wind power of the capacity of 1,500 KVA project in Hassan district in Karnataka. This was operated and maintained by Suzlon energy. Due to operational difficulties the Power Division was sold in February, 2023
c) Electronics division:[4]
One of group companies viz. Hyderabad Flextech Ltd is a 100% Export Oriented Unit which manufactures Flexible PCB & Regid PCB. It was merged with Keerthi Industries
d) Sugar division:[5]
An integrated sugar project of 3,500 TCD sugar plant, with 26 MW cozen power plant, 50KLPD Distillery, is being set-up in Yadagir Dt. Karnataka, for which Promoters have purchased 150 acres of land for the purpose
e) Oilfield and Natural Gas:[6]
There is no progress in the division

  • Market Cap 115 Cr.
  • Current Price 143
  • High / Low 152 / 116
  • Stock P/E
  • Book Value 86.5
  • Dividend Yield 0.00 %
  • ROCE -5.89 %
  • ROE -8.63 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.55% over past five years.
  • Company has a low return on equity of 13.3% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 40.0% of their holding.

* 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: Cement Industry: Cement - South India

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
60.62 65.78 71.42 54.99 55.77 67.77 57.17 50.20 66.88 66.32 58.23 47.47 56.19
49.55 55.19 59.24 44.57 48.24 66.79 52.38 51.28 69.20 68.08 57.53 49.89 53.38
Operating Profit 11.07 10.59 12.18 10.42 7.53 0.98 4.79 -1.08 -2.32 -1.76 0.70 -2.42 2.81
OPM % 18.26% 16.10% 17.05% 18.95% 13.50% 1.45% 8.38% -2.15% -3.47% -2.65% 1.20% -5.10% 5.00%
0.76 -5.26 0.93 0.64 1.16 1.01 0.70 0.60 0.45 0.36 0.37 0.26 0.31
Interest 1.27 1.08 0.79 0.80 0.87 0.88 0.74 0.79 0.80 1.00 1.41 1.52 1.58
Depreciation 2.56 2.24 2.25 2.29 2.29 2.43 2.31 2.36 2.38 2.44 2.93 3.03 3.05
Profit before tax 8.00 2.01 10.07 7.97 5.53 -1.32 2.44 -3.63 -5.05 -4.84 -3.27 -6.71 -1.51
Tax % 31.25% 126.37% 23.93% 35.51% 28.75% 17.42% 25.82% 28.93% 3.96% 61.78% -31.50% 12.67% 30.46%
5.51 -0.53 7.66 5.13 3.94 -1.08 1.81 -2.57 -4.86 -1.84 -4.30 -5.86 -1.04
EPS in Rs 6.87 -0.66 9.56 6.40 4.91 -1.35 2.26 -3.21 -6.06 -2.30 -5.36 -7.31 -1.30
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
176 108 125 153 183 198 193 184 172 232 250 241 228
134 104 122 127 141 166 166 177 164 184 219 241 229
Operating Profit 42 3 3 26 41 32 26 8 8 49 31 -0 -1
OPM % 24% 3% 2% 17% 23% 16% 14% 4% 5% 21% 12% -0% -0%
0 -5 -1 3 3 2 2 4 10 -3 4 2 1
Interest 10 9 9 9 6 7 7 7 6 5 3 3 6
Depreciation 14 14 14 8 8 9 11 11 11 10 9 9 11
Profit before tax 19 -24 -21 10 30 18 11 -5 1 30 22 -11 -16
Tax % 38% -2% 13% -81% 33% 37% 27% 101% 135% 35% 30% 35%
12 -25 -18 19 20 11 8 0 -0 19 16 -7 -13
EPS in Rs 14.89 -30.62 -22.50 23.54 24.84 14.21 9.92 0.09 -0.40 24.02 19.51 -9.03 -16.27
Dividend Payout % 0% 0% 0% 0% 0% 0% 9% 1,031% -226% 6% 8% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 5%
3 Years: 12%
TTM: -6%
Compounded Profit Growth
10 Years: 5%
5 Years: %
3 Years: -5%
TTM: -86%
Stock Price CAGR
10 Years: 33%
5 Years: 25%
3 Years: 8%
1 Year: -9%
Return on Equity
10 Years: 12%
5 Years: 7%
3 Years: 13%
Last Year: -9%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 8 8 8 8 8 8 8 8 8 8 8 8 8
Reserves 48 23 5 23 43 41 49 48 47 66 80 71 61
Preference Capital 10 9 9 9 9 9 8 5 2 0 0 0
78 77 80 73 77 58 54 56 53 30 30 65 63
49 64 59 46 47 69 59 45 34 47 44 43 50
Total Liabilities 183 171 153 150 175 176 171 157 143 150 163 188 183
141 130 116 107 102 121 114 107 100 92 86 80 119
CWIP 2 2 0 0 21 0 0 0 0 0 9 41 0
Investments 0 0 0 0 0 0 1 1 2 2 3 3 3
40 40 37 43 53 55 55 48 41 56 64 63 60
Total Assets 183 171 153 150 175 176 171 157 143 150 163 188 183

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
11 12 -11 18 25 34 26 8 12 38 9 6
-5 -2 3 0 -23 -9 -3 -4 -4 -1 -14 -35
-10 -10 9 -17 -2 -18 -24 -9 -5 -29 -4 30
Net Cash Flow -4 -1 0 1 -0 7 -2 -6 3 7 -9 1

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 6 20 10 4 5 5 6 7 7 8 9 10
Inventory Days 306 347 211 433 465 351 398 222 237 329 287 461
Days Payable 152 350 246 420 338 293 331 205 184 156 117 232
Cash Conversion Cycle 159 17 -25 17 131 63 73 23 61 181 180 239
Working Capital Days -24 -98 -62 -32 10 -54 -21 -13 -19 -5 21 15
ROCE % 20% -7% -8% 17% 27% 20% 16% 1% -0% 38% 23% -6%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92% 74.92%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
25.04% 25.04% 25.04% 25.04% 25.04% 25.04% 25.04% 25.04% 25.04% 25.04% 25.03% 25.05%
No. of Shareholders 13,60513,69713,73713,47713,32213,26913,22713,11213,03112,96712,88112,833

* 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.

Click on the line-items to see the names of individual entities.

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