Arcotech Ltd

About [ edit ]

Arcotech is principally engaged in the business of manufacturing non-ferrous semis.

  • Market Cap 23.1 Cr.
  • Current Price 2.20
  • High / Low 4.20 / 0.70
  • Stock P/E
  • Book Value 9.31
  • Dividend Yield 0.00 %
  • ROCE -13.1 %
  • ROE -41.7 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.24 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -35.10% over past five years.
  • Promoter holding is low: 39.96%
  • Company has a low return on equity of -25.97% for last 3 years.
  • Contingent liabilities of Rs.76.45 Cr.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 45.65% of their holding.
  • Company has high debtors of 1173.09 days.
  • Promoter holding has decreased over last 3 years: -34.38%
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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
218.40 155.26 127.07 117.24 52.54 40.50 30.30 2.75 1.94 0.00 7.13 18.64
221.10 133.84 126.40 178.36 84.14 77.50 33.07 8.01 23.50 0.51 8.03 19.47
Operating Profit -2.70 21.42 0.67 -61.12 -31.60 -37.00 -2.77 -5.26 -21.56 -0.51 -0.90 -0.83
OPM % -1.24% 13.80% 0.53% -52.13% -60.14% -91.36% -9.14% -191.27% -1,111.34% -12.62% -4.45%
Other Income 0.30 0.38 0.62 0.54 0.74 0.15 0.47 0.24 0.31 0.06 0.01 -0.02
Interest 22.29 13.77 15.87 12.41 16.03 7.62 10.48 9.59 -14.61 5.41 5.48 7.83
Depreciation 2.05 2.54 2.55 2.72 2.79 2.77 2.77 2.77 2.77 2.77 2.77 2.77
Profit before tax -26.74 5.49 -17.13 -75.71 -49.68 -47.24 -15.55 -17.38 -9.41 -8.63 -9.14 -11.45
Tax % 42.26% 43.53% 29.01% 34.47% 32.63% 34.42% 22.83% 27.85% 65.99% 35.23% 34.57% 27.69%
Net Profit -15.44 3.09 -12.16 -49.61 -33.47 -30.98 -12.00 -12.53 -3.20 -5.59 -5.98 -8.28
EPS in Rs -1.47 0.29 -1.16 -4.72 -3.19 -2.95 -1.14 -1.19 -0.30 -0.53 -0.57 -0.79
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
46 93 202 253 369 625 656 728 734 764 452 75 28
44 76 168 213 318 534 563 630 629 684 520 142 52
Operating Profit 3 17 34 40 52 91 93 98 105 80 -67 -67 -24
OPM % 6% 18% 17% 16% 14% 15% 14% 13% 14% 10% -15% -88% -86%
Other Income 1 0 0 1 2 2 2 2 3 4 2 1 0
Interest 1 4 11 15 20 38 39 40 62 72 61 13 4
Depreciation 1 1 2 2 3 4 4 5 6 8 11 11 11
Profit before tax 1 12 22 23 31 51 52 56 41 4 -137 -90 -39
Tax % -316% 34% 34% 23% 25% 35% 35% 35% 33% 9% 33% 34%
Net Profit 5 8 14 18 23 33 34 36 27 4 -92 -59 -23
EPS in Rs 0.51 0.77 1.42 1.77 2.29 3.15 3.22 3.47 2.60 0.37 -8.78 -5.59 -2.19
Dividend Payout % 0% 0% 0% 0% 0% 1% 6% 9% 12% 0% 0% 0%
Compounded Sales Growth
10 Years:-2%
5 Years:-35%
3 Years:-53%
TTM:-78%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:74%
Stock Price CAGR
10 Years:-10%
5 Years:-50%
3 Years:-63%
1 Year:76%
Return on Equity
10 Years:3%
5 Years:-9%
3 Years:-26%
Last Year:-42%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
20 20 20 20 20 21 21 21 21 21 30 23 21
Reserves 17 25 39 57 80 115 146 178 206 206 140 88 77
Borrowings 9 45 70 80 141 214 203 313 300 347 442 445 385
7 9 33 52 94 110 150 196 211 206 114 73 143
Total Liabilities 52 99 162 209 334 460 520 709 738 779 716 627 626
14 32 41 49 69 87 93 120 139 186 192 181 175
CWIP 2 4 2 2 2 0 11 54 14 0 0 0 0
Investments 2 0 0 0 0 0 0 0 0 0 0 0 0
35 63 119 158 263 373 416 535 584 593 524 446 451
Total Assets 52 99 162 209 334 460 520 709 738 779 716 627 626

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-2 -18 10 22 21 0 41 -3 48 56 -94 37
0 -18 -7 -16 -32 0 -30 -73 9 -39 -15 0
2 37 -2 -4 16 0 -7 76 -56 -17 110 -37
Net Cash Flow 0 1 1 2 4 0 5 1 0 0 0 -0

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 6% 23% 30% 27% 25% 30% 25% 22% 20% 14% -13% -13%
Debtor Days 39 96 117 111 124 98 98 120 122 138 228 1,173
Inventory Turnover 4.16 3.82 4.47 3.53 3.45 3.62 3.02 3.02 2.85 3.12 3.12 1.54

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
72.16 68.52 68.31 65.63 65.41 65.40 65.40 65.40 39.96 39.96 39.96 39.96
0.33 0.47 0.25 0.18 0.18 0.18 0.18 0.23 0.18 0.18 0.18 0.18
27.51 31.01 31.44 34.18 34.41 34.42 34.42 34.37 59.86 59.86 59.86 59.86

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