Beekay Steel Industries Ltd

Beekay Steel Industries is an India-based company, which is engaged in producing steel products. The Company is engaged in manufacturing of thermo mechanical treatment (TMT) bars, hot rolled steel sections, bright bars, structurals and machined bars.

Pros:
Company has reduced debt.
Stock is trading at 1.08 times its book value
Company has good consistent profit growth of 30.21% over 5 years
Cons:

Peer Comparison Sector: Steel // Industry: Steel - Medium / Small

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
181 175 205 203 230 258 288 267 257 243 193 198
161 154 184 170 189 229 257 220 206 206 157 156
Operating Profit 20 21 21 33 41 29 31 48 51 37 36 42
OPM % 11% 12% 10% 16% 18% 11% 11% 18% 20% 15% 19% 21%
Other Income 1 0 2 2 0 4 4 5 3 2 1 7
Interest 5 4 5 4 5 4 5 4 4 4 4 3
Depreciation 4 4 3 3 3 4 4 4 4 4 5 4
Profit before tax 12 13 14 27 33 25 25 45 46 30 28 42
Tax % 42% 35% 31% 35% 35% 34% 24% 32% 34% 35% 39% 35%
Net Profit 7 8 10 17 22 17 19 31 30 20 17 27
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
286 271 283 312 435 557 571 549 519 519 721 978 891
266 243 252 278 387 504 518 490 459 454 637 845 725
Operating Profit 20 28 31 34 48 53 52 59 60 65 84 134 165
OPM % 7% 10% 11% 11% 11% 9% 9% 11% 12% 13% 12% 14% 19%
Other Income 1 1 1 1 2 2 2 2 2 2 3 10 13
Interest 5 11 15 11 14 18 17 20 21 21 19 18 14
Depreciation 4 10 9 7 8 9 9 13 16 16 15 15 17
Profit before tax 12 8 8 17 28 27 28 29 24 30 53 110 147
Tax % 33% 38% 34% 33% 33% 32% 33% 37% 36% 35% 35% 36%
Net Profit 8 5 5 11 19 18 19 18 16 19 34 71 95
EPS in Rs 7.97 9.91 18.07 37.08
Dividend Payout % 3% 3% 3% 3% 5% 0% 0% 0% 12% 10% 6% 3%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.69%
5 Years:11.37%
3 Years:23.55%
TTM:-14.56%
Compounded Profit Growth
10 Years:29.85%
5 Years:30.21%
3 Years:65.46%
TTM:7.47%
Return on Equity
10 Years:15.69%
5 Years:15.83%
3 Years:18.62%
Last Year:26.62%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
6 5 5 4 17 19 19 19 19 19 19 19 19
Reserves 51 55 60 71 74 111 130 148 161 178 213 281 377
Borrowings 88 134 107 123 131 137 141 168 174 164 186 182 120
48 66 57 73 134 156 155 132 175 149 104 113 96
Total Liabilities 189 259 227 270 356 423 444 467 529 511 521 595 612
79 78 83 83 109 110 127 190 198 192 189 187 208
CWIP 6 12 6 13 8 38 61 27 21 24 23 25 23
Investments 1 1 1 1 1 0 0 0 0 0 0 0 0
103 168 137 174 239 275 256 249 310 295 310 382 381
Total Assets 189 259 227 270 356 423 444 467 529 511 521 595 612

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-4 -24 49 31 32 63 38 37 45 37 48
-22 -14 -8 -27 -38 -50 -42 -18 -12 -11 -15
25 42 -44 -2 6 -14 4 -17 -34 -21 -39
Net Cash Flow 0 3 -2 2 0 -1 -1 2 -1 5 -6

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 14% 12% 13% 15% 20% 18% 16% 16% 13% 14% 19% 29%
Debtor Days 38 53 61 82 72 49 48 44 45 56 43 49
Inventory Turnover 7.02 4.05 4.00 5.41 5.83 5.84 5.62 5.46 4.42 4.06 5.21 5.96