Deccan Cements Ltd

About

Deccan Cements Ltd is a major producer of cement in south India from 1979 and began its commercial production in 1982 located at Bhavanipuram in Nalgonda District of Telangana. The brand is associated with the company's most familiar corporate Mascot 'Chamu'. [1]

Key Points

Product Segment
The company manufactures the regular grades of Cement, PPC and PSC cement.
Specialty cements produced include S53 for railway applications, SRC (Sulphate Resistant Cement), Low Heat Cement, Low Alkali Cement etc.[1]

See full details
  • Market Cap 1,078 Cr.
  • Current Price 769
  • High / Low 847 / 272
  • Stock P/E 8.56
  • Book Value 403
  • Dividend Yield 0.65 %
  • ROCE 26.6 %
  • ROE 22.7 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 20.44% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 3.92% over past five years.

Peer comparison

Sector: Cement Industry: Cement - South India

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
163 173 154 182 134 116 124 139 198 208 214 224
141 150 126 142 118 105 112 99 148 159 177 169
Operating Profit 21 23 28 40 16 11 11 40 50 49 37 55
OPM % 13% 13% 18% 22% 12% 9% 9% 29% 25% 24% 17% 25%
Other Income 2 2 4 2 4 2 -8 2 2 2 3 3
Interest 2 2 3 1 2 2 2 1 1 1 3 2
Depreciation 6 6 6 5 5 5 6 6 6 6 6 6
Profit before tax 16 18 24 36 13 5 -3 35 45 44 31 49
Tax % 36% 35% 45% 35% -157% 26% 15% 26% 25% 25% 28% 26%
Net Profit 10 11 13 23 32 4 -3 26 34 33 22 37
EPS in Rs 7.27 8.18 9.33 16.66 23.07 2.82 -2.11 18.65 24.16 23.62 15.76 26.29

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
296 338 510 573 441 407 625 496 570 651 555 758 844
222 274 394 509 383 343 511 396 484 556 477 582 653
Operating Profit 74 64 115 65 57 64 115 100 86 95 79 176 191
OPM % 25% 19% 23% 11% 13% 16% 18% 20% 15% 15% 14% 23% 23%
Other Income 3 5 3 3 2 3 1 2 3 10 -0 10 11
Interest 34 40 41 31 27 27 15 7 6 8 7 8 8
Depreciation 24 24 25 25 24 19 20 22 23 22 21 23 24
Profit before tax 19 5 54 12 7 21 81 74 61 75 51 155 170
Tax % 77% 63% 11% 41% 33% 6% 43% 36% 37% 39% -12% 26%
Net Profit 4 2 48 7 5 20 46 47 39 46 57 115 126
EPS in Rs 3.10 1.42 34.11 5.22 3.59 14.20 32.54 33.48 27.52 32.88 40.44 82.19 89.83
Dividend Payout % 48% 42% 4% 19% 17% 9% 8% 9% 11% 11% 10% 6%
Compounded Sales Growth
10 Years:8%
5 Years:4%
3 Years:10%
TTM:65%
Compounded Profit Growth
10 Years:50%
5 Years:20%
3 Years:44%
TTM:84%
Stock Price CAGR
10 Years:26%
5 Years:6%
3 Years:28%
1 Year:183%
Return on Equity
10 Years:14%
5 Years:16%
3 Years:17%
Last Year:23%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7 7 7 7 7 7 7 7 7 7 7 7
Reserves 166 167 212 218 223 238 279 325 358 399 443 558
Borrowings 333 310 259 238 239 191 79 70 33 54 106 104
91 115 135 113 119 114 127 132 161 161 155 193
Total Liabilities 598 598 613 576 588 550 493 535 560 621 710 861
437 427 405 396 373 356 342 377 363 354 378 446
CWIP 58 33 35 35 35 33 34 0 4 9 62 12
Investments 0 0 0 0 0 0 0 0 0 0 0 0
102 138 173 145 180 161 116 157 192 258 271 404
Total Assets 598 598 613 576 588 550 493 535 560 621 710 861

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
81 61 92 43 66 67 140 61 71 58 43 184
-30 13 -2 -14 -0 -2 -7 -27 -12 -14 -90 -32
-29 -62 -79 -46 -63 -82 -125 -15 -36 10 32 -9
Net Cash Flow 22 13 11 -17 2 -17 9 19 23 55 -15 143

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 14 21 9 6 22 27 5 8 9 9 31 12
Inventory Days 444 412 446 654 935 712 397 464 364 374 493 341
Days Payable 288 193 416 310 164 152 150 25 16 27 169 218
Cash Conversion Cycle 170 240 40 350 793 587 251 446 357 356 355 135
Working Capital Days 25 17 17 25 83 81 18 36 27 26 26 -9
ROCE % 11% 9% 20% 9% 7% 11% 24% 21% 17% 19% 13% 27%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
56.19 56.19 56.19 56.19 56.19 56.24 56.24 56.24 56.24 56.24 56.24 56.24
1.69 1.78 1.79 1.71 2.14 2.26 2.37 2.48 2.62 2.89 3.60 6.26
14.18 14.15 14.09 13.79 12.84 12.52 11.30 4.19 2.75 2.21 0.07 0.40
27.94 27.88 27.93 28.31 28.83 28.99 30.08 37.08 38.39 38.65 40.09 37.09

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