BGR Energy Systems Ltd

BGR Energy Systems Ltd

₹ 85.4 -10.34%
23 Feb - close price
About

Incorporated in 1985, BGR Energy Systems Ltd. is a manufacturer of capital equipment for Power Plants, Petrochemical Industries, Refineries and Process Industries. The Co also undertakes turnkey Balance of Plant (‘BOP’) and Engineering Procurement and Construction (‘EPC’) contracts for Power plants. [1]

Key Points

Business Divisions
Power Projects: The Power Projects division of the Co. is engaged in Turnkey EPC of Thermal/Gas based Power Plants and BOP).
Oil & Gas Equipment: This division offers a range of products like Process Equipment Package and Systems, Pipeline Equipment - Pig Launchers/Receivers, Compressor Packaging, and storage tanks.
Air Fin Cooler: The Co. has Turnkey capabilities in the design, manufacture, supply, erection & commissioning of air fin coolers/tube, bundles/finned tubes. It also Designs and manufactures Air Cooled Heat Exchangers.
Environmental Engineering: The division is engaged in the supply of Water Treatment Products & Systems like Membrane-based filtration systems (RO, UF, NF, etc.) and Demineralising Plants.
Electrical Projects: The Co., through Electrical Projects Division (EPD), provides a portfolio of value-added services in Electrical contracting and customized solutions to electrical utilities. [1]

  • Market Cap 616 Cr.
  • Current Price 85.4
  • High / Low 120 / 44.2
  • Stock P/E
  • Book Value -14.7
  • Dividend Yield 0.00 %
  • ROCE -11.4 %
  • ROE -145 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -24.6% over past five years.
  • Company has a low return on equity of -52.2% over last 3 years.
  • Contingent liabilities of Rs.1,165 Cr.
  • Promoters have pledged 40.0% of their holding.
  • Company has high debtors of 306 days.
  • Company's cost of borrowing seems high

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
358 381 254 509 250 207 273 181 246 107 145 235 462
392 387 261 407 248 203 289 250 229 317 166 263 911
Operating Profit -34 -6 -6 102 3 4 -17 -69 17 -210 -21 -28 -448
OPM % -10% -2% -2% 20% 1% 2% -6% -38% 7% -197% -15% -12% -97%
5 2 0 0 2 5 7 7 12 25 2 1 11
Interest 67 70 65 92 77 93 102 97 101 99 100 102 117
Depreciation 7 7 6 6 6 9 4 4 4 5 4 3 3
Profit before tax -104 -82 -77 4 -78 -92 -116 -163 -76 -289 -123 -133 -559
Tax % 25% 22% 26% 32% 24% 22% 23% 25% 22% 25% 26% 20% -24%
-79 -64 -57 3 -60 -72 -89 -122 -59 -218 -92 -107 -691
EPS in Rs -10.84 -8.52 -7.79 0.43 -8.23 -9.78 -12.27 -16.91 -8.17 -29.87 -12.68 -14.82 -95.66
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
3,450 3,113 3,301 3,366 3,244 3,441 3,298 3,273 2,692 1,140 1,221 806 949
2,940 2,682 2,928 3,227 2,887 3,052 2,950 2,949 2,478 1,304 1,090 1,085 1,657
Operating Profit 510 431 373 139 356 389 348 324 214 -164 130 -278 -708
OPM % 15% 14% 11% 4% 11% 11% 11% 10% 8% -14% 11% -35% -75%
14 12 6 7 7 21 3 3 43 7 13 50 38
Interest 179 179 185 212 301 265 288 271 302 300 359 399 418
Depreciation 17 20 21 27 24 24 25 28 35 31 27 17 15
Profit before tax 328 244 173 -93 38 121 37 28 -80 -487 -243 -644 -1,104
Tax % 32% 34% 48% -39% 66% 29% 85% 46% 88% 24% 24% 24%
224 161 90 -129 13 85 5 15 -10 -368 -185 -488 -1,108
EPS in Rs 31.07 22.46 13.31 -11.07 2.43 10.10 2.27 2.67 -0.40 -50.51 -25.37 -67.21 -153.03
Dividend Payout % 23% 31% 23% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -13%
5 Years: -25%
3 Years: -33%
TTM: 5%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -225%
Stock Price CAGR
10 Years: -2%
5 Years: 12%
3 Years: 23%
1 Year: 74%
Return on Equity
10 Years: -9%
5 Years: -23%
3 Years: -52%
Last Year: -145%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 72 72 72 72 72 72 72 72 72 72 72 72 72
Reserves 1,045 1,151 1,222 1,139 1,168 1,242 1,251 1,155 1,107 698 505 20 -179
1,770 2,625 2,020 2,118 2,303 2,001 2,228 2,259 2,143 1,943 1,878 1,845 1,997
3,058 2,727 3,544 3,314 3,148 3,111 3,226 3,217 2,923 2,677 2,905 3,019 3,175
Total Liabilities 5,945 6,576 6,858 6,643 6,691 6,426 6,777 6,704 6,245 5,389 5,360 4,955 5,065
310 450 440 421 494 488 493 493 403 370 336 324 318
CWIP 103 125 157 5 0 0 0 0 0 0 0 0 0
Investments 1 1 0 0 1 1 1 1 0 1 1 1 2
5,531 6,000 6,260 6,217 6,196 5,937 6,283 6,211 5,841 5,018 5,023 4,630 4,746
Total Assets 5,945 6,576 6,858 6,643 6,691 6,426 6,777 6,704 6,245 5,389 5,360 4,955 5,065

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-138 73 211 -5 -82 545 24 250 370 469 327 304
-147 -180 -43 142 -19 -18 -31 -25 42 -1 8 -2
203 223 -434 -130 -117 -534 -91 -232 -413 -459 -370 -306
Net Cash Flow -81 116 -265 7 -218 -7 -98 -7 -1 10 -35 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 277 335 305 262 296 230 332 322 119 259 218 306
Inventory Days 5 9 11 8 5 13 9 7 10 25 18 28
Days Payable 219 229 255 248 276 303 278 257 259 687 410 752
Cash Conversion Cycle 62 116 60 22 24 -60 63 72 -130 -403 -173 -418
Working Capital Days 212 352 310 250 275 193 198 184 222 486 437 526
ROCE % 19% 12% 10% 4% 10% 10% 10% 8% 5% -6% 4% -11%

Shareholding Pattern

Numbers in percentages

41 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
0.00% 0.00% 0.00% 0.12% 0.85% 0.80% 0.25% 0.01% 0.00% 0.03% 0.02% 0.01%
0.26% 0.26% 0.26% 0.25% 0.25% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26%
24.74% 24.74% 24.74% 24.63% 23.90% 23.94% 24.50% 24.75% 24.74% 24.72% 24.73% 24.74%
No. of Shareholders 78,01775,96875,14273,77980,69779,75678,20179,85279,00977,84177,34476,821

* 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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