National Fittings Ltd

National Fittings Limited is engages in the production of Piping components.

Pros:
Stock is providing a good dividend yield of 4.06%.
Company has good consistent profit growth of 34.31% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 38.60%
Company has been maintaining a healthy dividend payout of 27.24%
Cons:
Promoter's stake has decreased
Promoter holding is low: 34.04%

Peer Comparison Sector: Castings, Forgings & Fastners // Industry: Castings & Forgings

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
14.41 13.57 17.49 18.18 17.83 14.30 16.46 15.41 15.69 15.66 16.48 12.75
10.77 10.27 13.22 14.13 13.92 11.52 14.31 11.66 12.99 12.93 13.05 10.95
Operating Profit 3.64 3.30 4.27 4.05 3.91 2.78 2.15 3.75 2.70 2.73 3.43 1.80
OPM % 25.26% 24.32% 24.41% 22.28% 21.93% 19.44% 13.06% 24.33% 17.21% 17.43% 20.81% 14.12%
Other Income 0.38 0.31 0.37 1.20 0.57 0.36 1.14 0.34 0.62 0.44 0.57 0.38
Interest 0.14 0.20 0.35 0.22 0.20 0.23 0.28 0.18 0.23 0.24 0.24 0.20
Depreciation 0.31 0.24 0.27 0.28 0.26 0.30 0.32 0.34 0.32 0.36 0.40 0.40
Profit before tax 3.57 3.17 4.02 4.75 4.02 2.61 2.69 3.57 2.77 2.57 3.36 1.58
Tax % 35.57% 33.12% 33.08% 40.84% 37.31% 32.95% 33.09% 33.05% 45.85% 29.18% 27.38% 34.18%
Net Profit 2.30 2.12 2.69 2.82 2.52 1.74 1.79 2.39 1.51 1.82 2.44 1.04
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 TTM
6.32 6.91 5.12 7.60 31.24 26.08 28.50 31.22 36.74 49.53 52.19 67.05 60.58
5.52 6.40 4.83 7.03 29.11 23.35 25.71 26.99 30.38 39.95 40.91 51.51 49.92
Operating Profit 0.80 0.51 0.29 0.57 2.13 2.73 2.79 4.23 6.36 9.58 11.28 15.54 10.66
OPM % 12.66% 7.38% 5.66% 7.50% 6.82% 10.47% 9.79% 13.55% 17.31% 19.34% 21.61% 23.18% 17.60%
Other Income 0.70 0.29 0.47 0.12 1.45 0.14 0.59 0.48 0.59 0.95 1.80 2.44 2.01
Interest 0.67 0.58 0.55 0.42 0.59 0.48 0.65 0.65 0.64 1.07 0.76 0.97 0.91
Depreciation 0.57 0.36 0.27 0.25 0.20 0.23 0.43 0.70 0.72 1.16 1.21 1.05 1.48
Profit before tax 0.26 -0.14 -0.06 0.02 2.79 2.16 2.30 3.36 5.59 8.30 11.11 15.96 10.28
Tax % 34.62% 85.71% 116.67% -350.00% -1.43% 0.00% -1.30% 60.42% 39.89% 33.73% 33.39% 36.47%
Net Profit 0.17 -0.02 0.01 0.09 2.83 2.16 2.32 1.33 3.36 5.50 7.39 10.14 6.81
EPS in Rs 0.20 0.00 0.01 0.11 3.40 2.60 2.79 1.59 3.23 6.01 8.27 11.79
Dividend Payout % 0.00% -0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.76% 15.13% 33.78% 32.82%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:25.51%
5 Years:18.66%
3 Years:22.20%
TTM:-5.34%
Compounded Profit Growth
10 Years:%
5 Years:34.31%
3 Years:44.51%
TTM:-19.31%
Return on Equity
10 Years:28.98%
5 Years:31.40%
3 Years:38.60%
Last Year:42.87%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Sep 2018
8.32 8.32 8.32 13.32 13.32 13.32 13.32 13.32 13.32 11.32 8.32 8.32 8.32
Reserves -7.88 -7.90 -7.87 -7.78 -4.95 -2.79 -0.47 0.85 2.71 6.88 11.26 19.41 29.09
Borrowings 4.61 3.97 3.00 1.95 1.85 2.03 3.85 3.31 3.10 4.81 6.14 5.11 10.88
7.43 6.53 9.57 10.02 9.32 9.67 6.87 6.53 10.04 9.26 6.05 6.64 6.08
Total Liabilities 12.48 10.92 13.02 12.51 14.54 17.23 18.57 19.01 24.17 29.27 31.77 39.48 54.37
4.36 4.08 3.19 2.95 3.17 4.27 6.55 6.29 6.12 5.10 5.80 10.43 13.51
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.14 0.56 0.35
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.03 2.04
8.12 6.84 9.83 9.56 11.37 12.96 12.02 12.72 18.05 24.08 25.83 27.46 38.47
Total Assets 12.48 10.92 13.02 12.51 14.54 17.23 18.57 19.01 24.17 29.27 31.77 39.48 54.37

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
0.68 1.25 0.48 -3.50 1.05 2.11 2.59 3.57 5.42 3.83 9.53 12.53
0.08 -0.08 1.04 -0.01 -0.43 -1.31 -2.63 -0.26 -0.21 0.41 -1.29 -5.24
-0.72 -1.23 -1.51 3.51 -0.62 -0.31 0.36 -1.19 -2.35 -2.69 -5.43 -5.04
Net Cash Flow 0.04 -0.06 0.01 0.00 0.00 0.49 0.32 2.12 2.86 1.55 2.80 2.25

Ratios Standalone / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
ROCE % 9.32% 2.04% 8.04% 38.17% 23.18% 20.16% 23.46% 34.03% 44.47% 48.72% 57.82%
Debtor Days 57.75 64.97 76.99 59.07 16.71 25.89 20.36 16.84 18.18 17.61 17.97 14.37
Inventory Turnover 2.19 1.29 1.90 7.98 6.50 6.48 7.14 7.78 9.50 8.99 9.27