Bharat Wire Ropes Ltd

Bharat Wire Ropes Ltd

₹ 311 -2.49%
04 Mar 4:01 p.m.
About

Bharat Wire Ropes Limited is engaged in the business of manufacturing Steel Wire, Wire Ropes, Strands and Slings.
[1]

Key Points

Products
The Company has a diverse product mix which includes General Purpose Ropes, Fishing Ropes, Crane Ropes, Structural Ropes, Elevator Ropes, Mining Ropes, Oil & Gas Ropes, Shipping Ropes, Mechanically Spliced Slings, Hand Spliced Slings, Earth Wires, Stay Wires, Guy Wires and Spiral Strands. [1]

  • Market Cap 2,135 Cr.
  • Current Price 311
  • High / Low 402 / 104
  • Stock P/E 23.6
  • Book Value 89.8
  • Dividend Yield 0.00 %
  • ROCE 16.2 %
  • ROE 50.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 153% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.8%
  • Debtor days have improved from 39.3 to 29.5 days.

Cons

  • Stock is trading at 3.47 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoters have pledged 44.6% of their holding.

* 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.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
64 69 78 94 104 134 133 150 144 162 158 159 157
53 62 65 82 88 113 108 118 108 117 117 117 113
Operating Profit 11 7 13 13 15 21 25 31 37 46 41 42 44
OPM % 17% 11% 17% 14% 15% 16% 19% 21% 25% 28% 26% 26% 28%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 24 -36 5 6 6 6 4 5 7 6 4 4 3
Depreciation 5 5 5 5 5 5 5 5 5 5 5 5 5
Profit before tax -18 38 2 2 4 10 16 21 25 34 32 33 35
Tax % 25% 26% 26% 30% 24% 22% 25% 26% 25% 54% 26% 26% 25%
-14 28 2 1 3 8 12 15 19 16 24 24 26
EPS in Rs -3.03 4.54 0.29 0.17 0.49 1.21 1.88 2.39 2.93 2.35 3.49 3.60 3.88
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
77 73 82 77 61 65 165 240 258 250 411 589 637
68 65 73 67 52 59 147 222 229 218 348 450 465
Operating Profit 9 8 9 9 8 6 18 19 29 33 62 139 172
OPM % 12% 11% 11% 12% 14% 9% 11% 8% 11% 13% 15% 24% 27%
-0 1 0 -2 -0 3 20 1 0 0 1 1 1
Interest 4 5 4 4 4 3 25 73 89 34 23 22 17
Depreciation 2 2 2 2 2 4 12 21 22 22 21 21 21
Profit before tax 3 2 2 1 2 3 0 -74 -82 -23 18 97 135
Tax % 29% 32% 38% 70% 40% 16% 20% 40% 26% 26% 24% 36%
2 1 2 0 1 2 0 -45 -61 -17 14 62 90
EPS in Rs 0.73 0.50 0.51 0.11 0.30 0.54 0.06 -9.91 -13.56 -2.68 2.14 9.17 13.32
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: 23%
5 Years: 29%
3 Years: 32%
TTM: 14%
Compounded Profit Growth
10 Years: 45%
5 Years: 153%
3 Years: 45%
TTM: 68%
Stock Price CAGR
10 Years: %
5 Years: 38%
3 Years: 95%
1 Year: 203%
Return on Equity
10 Years: -4%
5 Years: -11%
3 Years: 26%
Last Year: 50%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 29 29 29 29 45 45 45 45 45 63 64 68 68
Reserves 37 38 40 41 93 96 98 55 -6 -10 5 110 543
Preference Capital -0 -0 -0 -0 -0 -0 -0 -0 -0 383 383 383
41 36 28 42 196 371 525 610 674 274 269 182 179
35 43 45 39 83 87 68 57 39 420 436 422 35
Total Liabilities 143 147 142 152 417 599 736 767 752 747 774 781 825
61 68 67 66 65 340 566 560 539 513 492 481 475
CWIP 7 5 8 11 159 142 2 1 1 1 0 3 13
Investments -0 1 -0 -0 -0 -0 -0 -0 -0 -0 -0 2 2
75 73 67 75 193 117 169 206 213 233 282 294 335
Total Assets 143 147 142 152 417 599 736 767 752 747 774 781 825

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
15 16 8 -6 36 17 32 83 151 -244 24 83
-47 -8 -2 -5 -193 -259 -98 -14 -0 -1 -0 -13
41 -12 -13 11 227 172 90 -90 -152 247 -25 -64
Net Cash Flow 9 -4 -7 -0 70 -69 23 -21 -1 2 -2 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 104 102 99 67 102 95 51 55 42 53 35 30
Inventory Days 201 259 236 274 325 334 243 213 174 148 113 122
Days Payable 67 130 115 97 86 150 124 76 24 25 44 20
Cash Conversion Cycle 239 231 220 245 341 280 170 192 191 176 104 132
Working Capital Days 229 215 198 173 45 201 78 -45 -215 191 146 144
ROCE % 9% 7% 7% 6% 3% 1% 4% -0% 1% 2% 6% 16%

Shareholding Pattern

Numbers in percentages

9 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
37.87% 37.87% 37.60% 37.60% 37.47% 36.96% 36.81% 36.78% 39.90% 39.86% 39.83% 39.83%
0.00% 0.87% 0.02% 0.02% 0.03% 0.00% 0.99% 0.99% 1.43% 1.06% 1.10% 1.39%
10.87% 10.00% 9.93% 9.93% 9.89% 9.76% 6.62% 4.67% 3.61% 3.20% 2.70% 2.63%
51.25% 51.25% 52.45% 52.45% 52.61% 53.28% 55.58% 57.56% 55.07% 55.89% 56.38% 56.15%
No. of Shareholders 6,5736,4577,2397,5868,0968,77010,91611,96412,99618,77524,74122,887

* 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.

Click on the line-items to see the names of individual entities.

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