Deccan Cements Ltd

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Deccan Cements is engaged in the business of Manufacturing of Cement in form of Clinker and Manufacturing of Portland Cement, Slag Cement and similar and Generation of Electricity.

  • Market Cap 511 Cr.
  • Current Price 365
  • High / Low 396 / 147
  • Stock P/E 7.30
  • Book Value 364
  • Dividend Yield 1.10 %
  • ROCE 13.2 %
  • ROE 14.9 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Stock is trading at 1.00 times its book value

Cons

  • The company has delivered a poor sales growth of 6.42% over past five years.
  • Company has a low return on equity of 12.80% for last 3 years.
  • Dividend payout has been low at 10.73% of profits over last 3 years

Peer comparison

Sector: Cement Industry: Cement - South India

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Quarterly Results

Figures in Rs. Crores

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
134 164 162 163 173 154 182 134 116 124 139 198
116 142 139 141 150 126 142 118 105 112 99 148
Operating Profit 18 21 23 21 23 28 40 16 11 11 40 50
OPM % 14% 13% 14% 13% 13% 18% 22% 12% 9% 9% 29% 25%
Other Income 2 1 2 2 2 4 2 4 2 -8 2 2
Interest 1 1 2 2 2 3 1 2 2 2 1 1
Depreciation 6 6 5 6 6 6 5 5 5 6 6 6
Profit before tax 13 15 18 16 18 24 36 13 5 -3 35 45
Tax % 32% 42% 36% 36% 35% 45% 35% -157% 26% 15% 26% 25%
Net Profit 9 9 11 10 11 13 23 32 4 -3 26 34
EPS in Rs 6.39 6.21 8.10 7.27 8.18 9.33 16.66 23.07 2.82 -2.11 18.65 24.16
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
185 296 338 510 573 441 407 625 496 570 651 556 576
120 222 274 394 509 383 343 511 396 484 556 477 464
Operating Profit 65 74 64 115 65 57 64 115 100 86 95 79 112
OPM % 35% 25% 19% 23% 11% 13% 16% 18% 20% 15% 15% 14% 19%
Other Income 1 3 5 3 3 2 3 1 2 4 10 -0 -1
Interest 5 34 40 41 31 27 27 15 7 6 8 7 6
Depreciation 7 24 24 25 25 24 19 20 22 23 22 21 22
Profit before tax 55 19 5 54 12 7 21 81 74 61 75 51 82
Tax % 38% 77% 63% 11% 41% 33% 6% 43% 36% 37% 39% -12%
Net Profit 34 4 2 48 7 5 20 46 47 39 46 57 61
EPS in Rs 24.45 3.10 1.42 34.11 5.22 3.59 14.20 32.54 33.48 27.52 32.88 40.44 43.52
Dividend Payout % 6% 48% 42% 4% 19% 17% 9% 8% 9% 11% 11% 10%
Compounded Sales Growth
10 Years:7%
5 Years:6%
3 Years:4%
TTM:-10%
Compounded Profit Growth
10 Years:31%
5 Years:27%
3 Years:11%
TTM:-13%
Stock Price CAGR
10 Years:18%
5 Years:2%
3 Years:-15%
1 Year:6%
Return on Equity
10 Years:12%
5 Years:14%
3 Years:13%
Last Year:15%

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
7 7 7 7 7 7 7 7 7 7 7 7 7
Reserves 164 166 167 212 218 223 238 279 325 358 399 443 503
Borrowings 326 333 310 259 238 239 191 79 70 33 54 106 72
124 91 115 135 113 119 114 127 132 161 161 155 212
Total Liabilities 621 598 598 613 576 588 550 493 535 560 621 710 794
396 437 427 405 396 373 356 342 377 363 354 378 370
CWIP 87 58 33 35 35 35 33 34 0 4 9 62 73
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
137 102 138 173 145 180 161 116 157 192 258 271 351
Total Assets 621 598 598 613 576 588 550 493 535 560 621 710 794

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
33 81 61 92 43 66 67 140 61 71 58 44
-216 -30 13 -2 -14 -0 -2 -7 -27 -12 -14 -90
156 -29 -62 -79 -46 -63 -82 -125 -15 -36 10 32
Net Cash Flow -27 22 13 11 -17 2 -17 9 19 23 55 -15

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 % 15% 11% 9% 20% 9% 7% 11% 24% 21% 17% 19% 13%
Debtor Days 5 14 21 9 6 22 27 5 8 9 9 31
Inventory Turnover 4.42 5.59 4.67 4.92 4.16 2.69 2.44 3.23 3.38 3.93 4.68 3.69

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
56.19 56.19 56.19 56.19 56.19 56.19 56.19 56.19 56.24 56.24 56.24 56.24
1.79 1.71 1.53 1.69 1.78 1.79 1.71 2.14 2.26 2.37 2.48 2.62
13.85 13.85 14.10 14.18 14.15 14.09 13.79 12.84 12.52 11.30 4.19 2.75
28.17 28.25 28.19 27.94 27.88 27.93 28.31 28.83 28.99 30.08 37.08 38.39

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