Electrosteel Castings Ltd

About [ edit ]

Electrosteel Castings is engaged in the manufacture and supply of Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF) and Cast iron (CI) Pipes as its core business and produces and supplies Pig Iron, in the process. It also produces Metallurgic Coke, Sinter and Power for captive consumption. The company caters to the needs of Water Infrastructure Development.

  • Market Cap 1,390 Cr.
  • Current Price 32.2
  • High / Low 37.0 / 8.75
  • Stock P/E
  • Book Value 63.4
  • Dividend Yield 0.93 %
  • ROCE 8.15 %
  • ROE 6.53 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.51 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.45% over past five years.
  • Company has a low return on equity of 6.29% for last 3 years.
  • Dividend payout has been low at 5.57% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
577 648 711 764 653 653 693 713 330 750 1,163
496 545 606 657 551 570 590 634 327 669 988
Operating Profit 81 103 105 107 102 83 102 79 3 82 174
OPM % 14% 16% 15% 14% 16% 13% 15% 11% 1% 11% 15%
Other Income 44 -204 16 17 8 13 7 5 5 -232 30
Interest 68 57 60 50 53 66 53 56 46 43 56
Depreciation 15 15 14 14 14 14 14 15 14 17 31
Profit before tax 42 -174 47 59 44 16 43 13 -53 -210 117
Tax % 8% 37% 36% 43% 42% 15% 27% -34% 35% -2% 27%
Net Profit 46 -99 43 48 39 26 59 38 -38 -208 57
EPS in Rs 1.27 -2.43 1.07 1.19 0.96 0.63 1.36 0.87 -0.87 -4.80 1.32

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,948 1,581 1,873 2,102 2,214 2,459 2,402 2,204 2,079 2,263 2,699 2,711 2,955
1,684 1,276 1,604 1,997 2,016 2,161 2,093 1,912 1,791 2,006 2,330 2,320 2,617
Operating Profit 264 305 269 105 198 298 309 292 288 257 369 391 338
OPM % 14% 19% 14% 5% 9% 12% 13% 13% 14% 11% 14% 14% 11%
Other Income 91 112 96 74 95 29 62 8 100 80 -101 8 -193
Interest 103 52 86 111 126 150 157 180 210 210 235 228 201
Depreciation 53 54 56 57 56 56 71 67 67 62 59 57 77
Profit before tax 198 312 223 12 112 120 144 52 111 65 -26 114 -133
Tax % 35% 34% 27% -146% 21% 32% 19% 32% 30% -2% 70% 25%
Net Profit 135 234 180 -27 -24 -16 -116 -27 144 124 38 161 -151
EPS in Rs 4.71 7.17 5.50 -0.83 -0.73 -0.46 -3.25 -0.77 4.04 3.47 0.94 3.72 -3.48
Dividend Payout % 29% 17% 23% -61% -68% -140% -20% -65% 12% 9% 0% 8%
Compounded Sales Growth
10 Years:6%
5 Years:2%
3 Years:9%
TTM:7%
Compounded Profit Growth
10 Years:-3%
5 Years:29%
3 Years:8%
TTM:-188%
Stock Price CAGR
10 Years:0%
5 Years:12%
3 Years:8%
1 Year:255%
Return on Equity
10 Years:3%
5 Years:5%
3 Years:6%
Last Year:7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
29 33 33 33 33 34 36 36 36 36 41 43 43
Reserves 1,241 1,588 1,714 1,663 2,193 2,168 2,034 2,455 2,349 2,443 2,595 2,837 2,700
Borrowings 1,101 1,298 1,567 1,821 2,430 2,571 2,572 2,185 2,057 1,697 1,761 1,736 1,986
509 395 755 813 431 683 575 1,032 1,078 1,225 1,025 977 2,342
Total Liabilities 2,881 3,314 4,068 4,330 5,087 5,456 5,218 5,708 5,519 5,401 5,421 5,593 7,071
519 538 553 601 1,148 1,182 1,154 1,780 1,707 1,678 1,633 1,703 2,635
CWIP 302 397 438 664 993 1,218 1,286 1,278 1,210 1,202 1,237 1,166 1,288
Investments 466 1,067 1,425 1,074 982 839 766 786 590 637 684 747 235
1,594 1,311 1,652 1,991 1,965 2,217 2,012 1,863 2,013 1,884 1,868 1,977 2,913
Total Assets 2,881 3,314 4,068 4,330 5,087 5,456 5,218 5,708 5,519 5,401 5,421 5,593 7,071

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
166 389 170 -255 216 109 443 533 421 450 -46 225
-568 -469 -442 133 -279 -177 -216 71 72 -69 33 -20
314 283 140 120 260 -88 -236 -592 -332 -574 -5 -220
Net Cash Flow -89 203 -132 -2 197 -155 -8 12 162 -193 -18 -16

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 14% 14% 10% 3% 5% 6% 6% 5% 6% 6% 9% 8%
Debtor Days 104 69 93 100 99 85 78 89 81 85 82 83
Inventory Turnover 2.26 1.49 1.69 1.65 1.81 1.92 1.88 1.74 1.75 1.89 2.01 1.63

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
53.02 50.18 50.54 50.62 50.62 50.62 52.22 52.41 52.41 55.19 55.25 55.27
0.99 6.41 6.57 6.73 6.72 7.07 11.05 11.04 11.11 11.10 10.10 9.63
6.60 5.57 5.24 5.23 5.24 4.73 4.80 4.84 4.84 4.70 4.68 4.21
39.39 37.84 37.65 37.42 37.42 37.58 31.92 31.71 31.64 29.01 29.97 30.89

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