B.C. Power Controls Ltd

About [ edit ]

B.C. Power Controls is engaged in manufacturing of Insulated Wire and Cable, Trading Ferrous & Non Ferrous Metal.

Company was incorporated on June 12, 2008. Manufacturing unit is at Bhiwadi,
Rajasthan .Company is one of the leading manufacturers of Wires & Cables which include Armoured Cable, Unarmoured Cable, Flexible & House Wires, Submersible Cable, Control & Instrumentation Cable.

  • Market Cap 18.5 Cr.
  • Current Price 3.15
  • High / Low 10.5 / 2.85
  • Stock P/E 45.2
  • Book Value 5.41
  • Dividend Yield 0.00 %
  • ROCE 7.10 %
  • ROE 3.41 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Stock is trading at 0.58 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -7.09%
  • The company has delivered a poor sales growth of -2.90% over past five years.
  • Promoter holding is low: 14.91%
  • Company has a low return on equity of 9.81% for last 3 years.
  • Earnings include an other income of Rs.0.58 Cr.
  • Company's cost of borrowing seems high

Peer comparison

Sector: Cables Industry: Cables - Power

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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
212.06 151.78 137.78 106.80 87.33 82.91 41.18 37.89 30.56 23.81 58.00 45.67
207.39 149.18 136.00 105.75 87.59 80.54 39.42 38.04 31.01 22.22 58.03 45.32
Operating Profit 4.67 2.60 1.78 1.05 -0.26 2.37 1.76 -0.15 -0.45 1.59 -0.03 0.35
OPM % 2.20% 1.71% 1.29% 0.98% -0.30% 2.86% 4.27% -0.40% -1.47% 6.68% -0.05% 0.77%
Other Income -0.51 0.26 0.92 1.07 1.23 0.13 0.29 0.08 0.39 0.02 0.08 0.09
Interest 0.31 0.80 1.57 1.84 0.38 1.08 0.76 0.23 0.41 0.07 0.33 0.26
Depreciation 0.00 0.14 0.15 0.16 0.16 0.12 0.12 0.12 0.12 0.10 0.11 0.09
Profit before tax 3.85 1.92 0.98 0.12 0.43 1.30 1.17 -0.42 -0.59 1.44 -0.39 0.09
Tax % 32.99% 33.33% 33.67% 83.33% 34.88% 33.08% 19.66% 21.43% 23.73% 26.39% 25.64% 22.22%
Net Profit 2.58 1.29 0.65 0.02 0.28 0.87 0.94 -0.33 -0.44 1.07 -0.29 0.07
EPS in Rs 0.44 0.22 0.11 0.00 0.05 0.15 0.16 -0.06 -0.07 0.18 -0.05 0.01

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
1 7 45 104 103 153 223 246 355 493 484 193 158
1 7 45 103 102 151 221 246 353 484 478 189 157
Operating Profit -0 0 0 1 2 2 2 1 2 9 6 4 1
OPM % -3% 1% 0% 1% 2% 1% 1% 0% 1% 2% 1% 2% 1%
Other Income 0 0 0 0 0 0 2 3 1 1 3 1 1
Interest 0 0 0 0 1 1 2 2 1 2 5 2 1
Depreciation 0 0 0 0 1 1 1 1 1 1 1 0 0
Profit before tax -0 -0 0 1 1 1 1 1 1 7 3 1 1
Tax % 0% 100% 25% 31% 43% 30% 32% 34% 38% 33% 36% 29%
Net Profit -0 0 0 0 0 1 1 1 1 5 2 1 0
EPS in Rs -5.00 0.20 0.09 0.39 0.32 0.09 0.12 0.12 0.12 0.86 0.38 0.18 0.07
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:39%
5 Years:-3%
3 Years:-18%
TTM:-37%
Compounded Profit Growth
10 Years:59%
5 Years:9%
3 Years:15%
TTM:-77%
Stock Price CAGR
10 Years:%
5 Years:-21%
3 Years:-54%
1 Year:-68%
Return on Equity
10 Years:6%
5 Years:8%
3 Years:10%
Last Year:3%

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
0 0 1 2 2 12 12 12 12 12 12 12 12
Reserves -0 -0 4 8 8 9 10 10 11 16 18 19 20
Borrowings 0 0 0 4 22 31 12 25 28 16 25 25 11
1 7 13 17 46 43 37 31 64 146 30 20 16
Total Liabilities 1 7 18 32 78 94 70 78 115 190 86 75 59
0 0 2 6 5 5 5 5 4 4 3 3 3
CWIP 0 0 2 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 3 3 0 0 0 0 0 0 0 0
1 6 15 23 69 89 65 74 111 186 82 72 56
Total Assets 1 7 18 32 78 94 70 78 115 190 86 75 59

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
0 0 -0 1 -14 -18 20 -6 -4 47 -37 -0
-0 -0 -4 -10 -1 -2 1 -5 2 -7 9 1
0 0 5 9 17 17 -21 11 2 -14 5 -3
Net Cash Flow 0 0 0 -0 2 -2 0 0 -0 26 -24 -2

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% 3% 6% 6% 5% 8% 7% 5% 20% 17% 7%
Debtor Days 226 13 50 10 180 150 70 60 90 56 38 56
Inventory Turnover 2.24 7.20 9.94 8.71 15.50 20.88 18.56 25.58 14.89 13.02 9.28

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
60.75 60.75 57.55 54.30 30.42 22.00 22.00 22.00 22.00 22.00 22.00 14.91
2.82 3.09 2.75 1.88 1.86 1.24 1.24 1.23 1.04 11.66 10.43 9.08
0.00 0.00 0.00 0.00 0.67 0.02 0.53 0.47 0.47 0.00 0.00 0.48
36.43 36.16 39.71 43.82 67.05 76.74 76.24 76.30 76.49 66.34 67.57 75.54

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