Ashirwad Steels & Industries Ltd

Ashirwad Steels Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ashirwad Steels & Industries Ltd

₹ 52.9 -2.51%
27 May - close price
ashirwadsteels.com BSE: 526847
About

The company has no trading or industrial activities as part of its usual business activity. Earlier it had Sponge Iron Plant production in Nalgonda, Telangana and Jamshedpur. In FY22, the company hived off both of them resulting in complete exit out of the Iron & Steel Business. [1]

Key Points

Business Overview:[1][2]
Company manufactures and supplies sponge iron, used as an input in manufacturing finished steel and Bottled Hydrocarbon/LPG gas

Website BSE
  • Market Cap ₹ 66.1 Cr.
  • Current Price ₹ 52.9
  • High / Low ₹ 67.6 / 21.0
  • Stock P/E 29.2
  • Book Value ₹ 64.7
  • Dividend Yield 0.00 %
  • ROCE 4.07 %
  • ROE 2.84 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.82 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -10.5% over past five years.
  • Company has a low return on equity of 3.06% over last 3 years.
  • Earnings include an other income of Rs.2.81 Cr.

* 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: Finance Industry: Finance & Investments

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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
0.26 0.27 0.27 0.27 0.80 0.29 0.10 0.34 0.32 0.15 0.23 0.34 0.86
0.93 0.85 1.62 0.22 1.61 0.27 0.45 0.69 0.16 0.33 0.23 0.22 0.28
Operating Profit -0.67 -0.58 -1.35 0.05 -0.81 0.02 -0.35 -0.35 0.16 -0.18 0.00 0.12 0.58
OPM % -257.69% -214.81% -500.00% 18.52% -101.25% 6.90% -350.00% -102.94% 50.00% -120.00% 0.00% 35.29% 67.44%
0.23 0.65 0.70 0.75 5.73 0.92 17.05 0.69 0.62 0.64 0.70 0.69 0.78
Interest 0.00 0.00 0.00 0.00 0.01 0.02 0.01 0.00 0.00 0.01 0.00 0.05 0.01
Depreciation 0.09 0.09 0.09 0.09 0.08 0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Profit before tax -0.53 -0.02 -0.74 0.71 4.83 0.91 16.67 0.32 0.76 0.43 0.68 0.74 1.33
Tax % 69.81% 100.00% 2.70% -2.82% 4.35% 18.68% 8.28% 37.50% 27.63% 32.56% 26.47% 22.97% 32.33%
-0.15 0.00 -0.72 0.73 4.61 0.74 15.28 0.20 0.55 0.30 0.50 0.57 0.90
EPS in Rs -0.12 0.00 -0.58 0.58 3.69 0.59 12.22 0.16 0.44 0.24 0.40 0.46 0.72
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
50.00 15.12 5.15 0.86 1.85 22.26 2.77 8.18 1.58 3.26 2.11 1.59
49.79 16.14 7.42 2.91 2.28 22.90 7.40 10.26 3.44 2.75 1.16 1.08
Operating Profit 0.21 -1.02 -2.27 -2.05 -0.43 -0.64 -4.63 -2.08 -1.86 0.51 0.95 0.51
OPM % 0.42% -6.75% -44.08% -238.37% -23.24% -2.88% -167.15% -25.43% -117.72% 15.64% 45.02% 32.08%
2.29 2.79 2.99 2.83 1.91 1.77 14.73 -0.99 1.93 4.82 17.82 2.81
Interest 0.55 0.47 0.29 0.12 0.03 0.12 0.03 0.10 0.06 0.20 0.03 0.06
Depreciation 1.13 1.13 0.67 0.63 0.63 0.62 0.46 0.36 0.36 0.35 0.08 0.08
Profit before tax 0.82 0.17 -0.24 0.03 0.82 0.39 9.61 -3.53 -0.35 4.78 18.66 3.18
Tax % 3.66% -117.65% 50.00% -533.33% 7.32% -33.33% 21.75% -4.25% 8.57% 3.14% 10.13% 29.25%
0.80 0.37 -0.13 0.18 0.76 0.52 7.52 -3.67 -0.31 4.62 16.77 2.26
EPS in Rs 0.64 0.30 -0.10 0.14 0.61 0.42 6.02 -2.94 -0.25 3.70 13.42 1.81
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: -20%
5 Years: -11%
3 Years: 0%
TTM: -25%
Compounded Profit Growth
10 Years: 20%
5 Years: 24%
3 Years: 34%
TTM: -21%
Stock Price CAGR
10 Years: 27%
5 Years: 41%
3 Years: 56%
1 Year: 124%
Return on Equity
10 Years: 1%
5 Years: 2%
3 Years: 3%
Last Year: 3%

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 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50 12.50
Reserves 37.82 38.19 38.09 38.21 39.71 40.18 48.13 43.26 43.95 48.86 65.88 68.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.99 0.00 0.00 0.00 0.00
5.71 3.32 2.58 2.23 1.55 2.92 1.02 1.02 0.75 0.02 0.00 0.09
Total Liabilities 56.03 54.01 53.17 52.94 53.76 55.60 61.65 58.77 57.20 61.38 78.38 80.94
11.17 10.04 9.18 8.77 8.24 7.40 4.88 4.99 4.65 0.61 0.42 0.35
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.94 0.00 0.00 0.00
Investments 4.49 4.49 4.46 3.02 7.81 8.87 11.91 10.21 8.98 5.21 17.37 31.81
40.37 39.48 39.53 41.15 37.71 39.33 44.86 43.57 42.63 55.56 60.59 48.78
Total Assets 56.03 54.01 53.17 52.94 53.76 55.60 61.65 58.77 57.20 61.38 78.38 80.94

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
9.39 -4.92 3.95 -0.67 -1.46 -3.19 -8.72 3.66 -1.02 9.15 16.49 9.20
1.82 2.68 0.84 5.32 2.01 -1.06 17.15 -16.87 3.49 11.15 -9.27 -11.37
-10.83 -2.69 -4.27 2.89 -0.02 -0.11 -0.03 1.90 -2.05 -0.01 -0.02 -0.06
Net Cash Flow 0.38 -4.93 0.53 7.54 0.53 -4.37 8.40 -11.31 0.42 20.29 7.20 -2.23

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 11.83 49.97 3.54 0.00 0.00 30.33 65.88 39.71 48.51 0.00 0.00 0.00
Inventory Days 42.22 196.33 326.45 1,360.06 100.10 1,733.75 172.05 2,190.00
Days Payable 13.69 0.00 0.00 0.00 0.00 0.00 6.67 0.00
Cash Conversion Cycle 40.35 246.30 329.99 1,360.06 0.00 130.43 1,799.63 205.10 2,238.51 0.00 0.00 0.00
Working Capital Days 129.72 571.64 1,533.00 7,754.13 1,909.84 177.74 2,437.73 1,103.48 5,925.47 2,315.40 3,245.21 2,194.59
ROCE % 2.60% 1.27% 0.22% 0.97% 2.08% 0.82% -5.30% 0.93% 1.68% 1.75% 4.58%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
66.92% 66.92% 67.63% 67.57% 67.57% 69.06% 69.06% 69.06% 69.07% 69.07% 69.07% 69.07%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
33.01% 33.01% 32.30% 32.36% 32.36% 30.87% 30.88% 30.87% 30.87% 30.87% 30.86% 30.86%
No. of Shareholders 3,4753,7244,9185,6345,5705,4235,5035,4325,4455,8656,2926,606

* 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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Documents

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