Shri Bajrang Alliance Ltd

₹ 285 -2.03%

06 May - close price

About

Incorproated in 1990, Shri Bajrang Alliance Ltd manufactures Structural Steel and also Ready
To Eat frozen food products and extraction of
Oils & Oleoresin essential oils^[1]

Key Points

Business Overview:^[1]
SBAL is a part of Goel family group which
has diversified business interests from the steel business to Media, Digital Marketing, Hydro Power, and Food Agro Processing. Company
has operational linkages with Shri Bajrang
Power and Ispat Ltd (SBPIL), the flagship company of Goel Group, for sourcing of
raw materials.

Website BSE

Market Cap ₹ 256 Cr.
Current Price ₹ 285
High / Low ₹ 353 / 134
Stock P/E 103
Book Value ₹ 64.3
Dividend Yield 0.00 %
ROCE 9.31 %
ROE 10.4 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Promoter holding has increased by 0.86% over last quarter.
Company's working capital requirements have reduced from 72.0 days to 37.7 days

Cons

Stock is trading at 4.43 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 7.46% over last 3 years.
Contingent liabilities of Rs.2,103 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: Steel Industry: Steel - Medium / Small

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	99.33	81.03	15.50	53.73	48.26	53.21	51.46	64.90	46.16	361.21	151.03	68.16	124.19
	92.18	73.18	14.28	46.54	50.81	50.14	45.84	63.92	44.69	358.58	146.35	68.19	126.39
Operating Profit	7.15	7.85	1.22	7.19	-2.55	3.07	5.62	0.98	1.47	2.63	4.68	-0.03	-2.20
OPM %	7.20%	9.69%	7.87%	13.38%	-5.28%	5.77%	10.92%	1.51%	3.18%	0.73%	3.10%	-0.04%	-1.77%
	-0.21	0.20	1.85	0.14	0.35	-0.17	0.47	0.18	0.14	0.46	0.25	0.15	0.24
Interest	1.84	0.06	0.98	1.07	0.44	0.13	0.76	0.42	1.45	-0.39	0.39	0.17	0.20
Depreciation	0.62	0.52	0.64	0.64	0.65	0.67	0.68	0.70	0.73	0.67	0.76	0.77	0.78
Profit before tax	4.48	7.47	1.45	5.62	-3.29	2.10	4.65	0.04	-0.57	2.81	3.78	-0.82	-2.94
Tax %	-2.68%	-4.02%	26.21%	27.76%	-11.25%	36.19%	27.10%	-25.00%	26.32%	11.39%	28.31%	25.61%	28.57%
	4.60	7.77	1.07	4.06	-3.66	1.34	3.40	0.05	-0.43	2.49	2.71	-0.62	-2.10
EPS in Rs	5.11	8.63	1.19	4.51	-4.07	1.49	3.78	0.06	-0.48	2.77	3.01	-0.69	-2.33
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	150	125	107	71	68	75	101	157	171	214	171	524	705
	143	118	100	67	67	70	96	152	168	205	162	513	700
Operating Profit	8	7	7	5	1	4	5	5	3	9	9	11	5
OPM %	5%	6%	6%	6%	1%	6%	4%	3%	2%	4%	5%	2%	1%
	0	0	-0	2	1	0	0	0	0	0	3	1	1
Interest	4	4	4	3	2	3	2	3	2	4	3	2	0
Depreciation	1	1	1	1	0	0	1	1	0	2	3	3	3
Profit before tax	3	2	2	2	-1	1	2	1	1	3	7	7	3
Tax %	31%	32%	32%	20%	0%	22%	28%	-1%	27%	24%	45%	20%
	2	1	1	2	-1	1	1	1	1	2	4	6	2
EPS in Rs	2.38	1.56	1.34	2.11	-1.40	1.06	1.31	1.60	0.91	2.42	4.20	6.12	2.76
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	15%
5 Years:	39%
3 Years:	45%
TTM:	227%

Compounded Profit Growth
10 Years:	15%
5 Years:	36%
3 Years:	86%
TTM:	-43%

Stock Price CAGR
10 Years:	35%
5 Years:	76%
3 Years:	21%
1 Year:	86%

Return on Equity
10 Years:	4%
5 Years:	6%
3 Years:	7%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	9	9	9	9	9	9	9	9	9	9	9	9	9
Reserves	15	16	17	19	18	19	28	29	30	37	41	46	49
	32	58	62	57	49	41	26	20	47	58	41	54	50
	7	6	3	4	3	3	10	12	51	14	10	63	44
Total Liabilities	63	89	92	89	79	73	73	70	137	118	101	173	151
	5	5	4	4	4	4	7	8	8	42	42	38	41
CWIP	0	0	0	0	0	0	0	0	29	0	0	0	0
Investments	2	2	2	4	3	3	7	7	7	8	11	24	25
	56	82	85	81	72	66	59	55	92	68	48	110	85
Total Assets	63	89	92	89	79	73	73	70	137	118	101	173	151

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	1	-16	4	6	2	2	13	-8	7	2	24	-3
	-1	-1	-0	-1	1	-0	-1	16	-33	-5	-5	-8
	-0	20	-7	-5	-3	-2	-12	-8	25	3	-19	11
Net Cash Flow	-0	3	-3	0	0	-0	0	0	0	0	0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	47	86	87	82	161	81	63	29	111	42	40	42
Inventory Days	72	71	105	101	74	105	94	100	68	66	74	36
Days Payable	2	2	2	5	7	1	11	25	110	23	5	16
Cash Conversion Cycle	117	156	190	178	228	185	146	104	69	85	110	62
Working Capital Days	119	149	211	270	217	185	108	99	82	92	86	38
ROCE %	13%	8%	7%	5%	0%	5%	6%	7%	4%	8%	9%	9%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	60.78%	63.97%	63.97%	63.97%	63.97%	63.96%	63.96%	63.96%	63.97%	63.97%	63.97%	64.83%
	0.11%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	39.11%	35.92%	36.03%	36.03%	36.03%	36.04%	36.04%	36.04%	36.03%	36.04%	36.03%	35.17%
No. of Shareholders	2,770	3,527	3,808	3,846	3,891	4,207	4,196	4,126	4,093	4,126	4,575	4,669

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	60.12%	60.12%	60.12%	60.12%	60.78%	63.97%	63.96%	64.83%
	39.88%	39.88%	39.88%	39.88%	39.22%	36.03%	36.04%	35.17%
No. of Shareholders	1,765	1,770	1,752	1,739	2,158	3,846	4,126	4,669

* 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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