Electrosteel Castings Ltd

₹ 36.3 1.11%
02 Feb 12:58 p.m.
About

Electrosteel Castings is engaged in the business of manufacturing Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF), Cast Iron (CI) Pipes and produces and supplies Pig Iron. [1][2]

Key Points

Revenue Split
D.I. Spun Pipes: 66% in FY21 vs 72% in FY20
D.I. Fittings: 9% in FY21 vs 9% in FY20
C.I. Spun Pipes: 9% in FY21 vs 8% in FY20
Others: 16% in FY21 vs 12% in FY20[1]

  • Market Cap 2,158 Cr.
  • Current Price 36.3
  • High / Low 47.4 / 26.4
  • Stock P/E 6.02
  • Book Value 70.9
  • Dividend Yield 2.16 %
  • ROCE 9.80 %
  • ROE 8.77 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.51 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 23.4% CAGR over last 5 years

Cons

  • Company has a low return on equity of 6.24% over last 3 years.
  • Promoter holding has decreased over last 3 years: -8.14%

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
653 693 713 330 750 1,163 1,230 1,097 1,165 1,438 1,577 1,767 1,784
570 590 634 326 665 987 1,063 938 1,034 1,249 1,360 1,564 1,630
Operating Profit 83 102 79 4 86 175 166 159 131 190 217 203 154
OPM % 13% 15% 11% 1% 11% 15% 14% 15% 11% 13% 14% 12% 9%
13 7 5 4 -236 24 19 16 21 12 9 16 17
Interest 66 53 56 46 43 55 64 60 40 45 53 62 69
Depreciation 14 14 15 14 17 28 32 28 29 27 31 30 30
Profit before tax 16 43 13 -53 -210 116 90 87 83 130 143 127 72
Tax % 15% 27% -34% 35% -2% 27% 25% 19% 20% 26% 21% 25% 26%
Net Profit 26 59 38 -38 -206 85 68 70 66 97 113 95 53
EPS in Rs 0.63 1.36 0.87 -0.87 -4.80 1.95 1.56 1.05 1.53 2.23 1.90 1.60 0.89
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,873 2,102 2,214 2,459 2,402 2,204 2,079 2,263 2,699 2,711 3,474 5,281 6,566
1,607 1,997 2,016 2,161 2,091 1,911 1,791 2,006 2,295 2,320 3,038 4,579 5,802
Operating Profit 265 105 198 299 311 293 288 257 404 391 436 702 764
OPM % 14% 5% 9% 12% 13% 13% 14% 11% 15% 14% 13% 13% 12%
100 74 95 28 59 7 100 80 -137 8 -194 52 54
Interest 86 111 126 150 157 180 210 210 235 228 208 195 229
Depreciation 56 57 56 56 71 67 67 62 59 57 90 115 118
Profit before tax 223 12 112 120 144 52 111 65 -26 114 -56 444 472
Tax % 27% -146% 21% 32% 19% 32% 30% -2% 70% 25% -72% 22%
Net Profit 180 -26 -23 -15 -116 -27 144 124 39 161 -91 348 358
EPS in Rs 5.50 -0.83 -0.73 -0.46 -3.25 -0.77 4.04 3.47 0.94 3.72 -2.11 5.84 6.62
Dividend Payout % 23% -61% -68% -140% -20% -65% 12% 9% 0% 8% -12% 14%
Compounded Sales Growth
10 Years: 10%
5 Years: 20%
3 Years: 25%
TTM: 41%
Compounded Profit Growth
10 Years: 25%
5 Years: 23%
3 Years: 23%
TTM: 36%
Stock Price CAGR
10 Years: 4%
5 Years: 2%
3 Years: 35%
1 Year: -10%
Return on Equity
10 Years: 3%
5 Years: 6%
3 Years: 6%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
33 33 33 34 36 36 36 36 41 43 59 59 59
Reserves 1,714 1,663 2,193 2,168 2,034 2,455 2,349 2,443 2,595 2,837 3,667 4,044 4,158
1,567 1,821 2,430 2,571 2,572 2,185 2,057 1,697 1,761 1,736 2,138 2,967 3,081
755 813 431 683 575 1,032 1,078 1,225 1,025 977 1,305 1,554 1,413
Total Liabilities 4,068 4,330 5,087 5,456 5,218 5,708 5,519 5,401 5,421 5,593 7,152 8,624 8,711
553 601 1,148 1,182 1,154 1,780 1,707 1,678 1,633 1,703 2,633 2,763 2,753
CWIP 438 664 993 1,218 1,286 1,278 1,210 1,202 1,237 1,166 1,337 1,208 1,185
Investments 1,425 1,074 982 839 766 786 590 637 684 747 202 457 218
1,652 1,991 1,965 2,217 2,012 1,863 2,013 1,884 1,868 1,977 2,980 4,196 4,555
Total Assets 4,068 4,330 5,087 5,456 5,218 5,708 5,519 5,401 5,421 5,593 7,152 8,624 8,711

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
170 -255 216 109 443 533 421 450 -46 225 444 -279
-442 133 -279 -177 -216 71 72 -69 33 -20 129 -329
140 120 260 -88 -236 -592 -332 -574 -5 -220 -419 609
Net Cash Flow -132 -2 197 -155 -8 12 162 -193 -18 -16 154 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 93 100 99 85 78 89 81 85 82 83 81 65
Inventory Days 286 266 206 232 212 225 249 219 228 278 279 330
Days Payable 156 132 58 119 90 121 109 121 94 120 102 92
Cash Conversion Cycle 223 234 247 197 200 192 220 182 217 242 258 302
Working Capital Days 133 122 157 124 127 154 153 97 130 131 167 176
ROCE % 10% 3% 5% 6% 6% 5% 6% 6% 9% 8% 8% 10%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
52.41 52.41 55.19 55.25 55.27 55.29 55.29 55.29 44.08 44.08 44.08 44.08
11.04 11.11 11.10 10.10 9.63 10.71 11.22 11.34 16.36 16.69 15.23 15.13
4.84 4.84 4.70 4.68 4.21 3.12 2.99 2.65 2.22 2.10 1.98 1.98
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.24 0.24 0.24 0.24
31.71 31.64 29.01 29.97 30.89 30.88 30.50 30.72 37.10 36.89 38.47 38.58

* 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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