Elgi Rubber Company Ltd

₹ 125 -2.89%

11 Dec 3:54 p.m.

About

Incorporated in 1981, ELGI Rubber Ltd is in the business of manufacture of Reclaimed rubber, Retreading machinery, and Retread rubber^[1]

Key Points

Business Overview:^[1]^[2]
ERL is in the business of manufacturing reclaim rubber, tread rubber, bonding gum and other rubber products, mainly in the Tyre sector through a franchisee, and it also provides pre-cured retreading as a solutions provider for the whole rubber industry which includes machinery, tread rubber, and repair patches. Company offers end to end one stop shop for retreaders to supply quality material to some of the tyre manufacturers.

Website NSE

Market Cap ₹ 628 Cr.
Current Price ₹ 125
High / Low ₹ 144 / 44.7
Stock P/E
Book Value ₹ 41.5
Dividend Yield 0.00 %
ROCE 5.79 %
ROE 0.97 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 3.03 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -1.17% over past five years.
Company has a low return on equity of -0.96% over last 3 years.
Earnings include an other income of Rs.40.0 Cr.

* 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: Plantation & Plantation Products Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	94.45	100.55	116.15	97.54	96.85	103.72	96.38	95.33	101.32	94.71	95.09	96.54	98.68
	92.95	98.46	114.67	99.50	92.26	92.95	93.03	89.46	88.80	90.19	93.13	91.75	92.60
Operating Profit	1.50	2.09	1.48	-1.96	4.59	10.77	3.35	5.87	12.52	4.52	1.96	4.79	6.08
OPM %	1.59%	2.08%	1.27%	-2.01%	4.74%	10.38%	3.48%	6.16%	12.36%	4.77%	2.06%	4.96%	6.16%
	3.83	-0.65	5.74	10.02	10.02	18.78	-5.95	10.07	9.35	6.25	7.72	26.72	-0.72
Interest	4.19	2.62	5.07	3.21	3.71	5.76	10.59	6.41	5.62	6.92	6.49	7.13	3.03
Depreciation	4.54	4.30	4.83	4.22	4.10	4.09	3.88	4.46	4.53	6.18	3.94	3.89	6.87
Profit before tax	-3.40	-5.48	-2.68	0.63	6.80	19.70	-17.07	5.07	11.72	-2.33	-0.75	20.49	-4.54
Tax %	41.18%	-0.18%	-35.07%	66.67%	17.06%	13.71%	-5.68%	0.20%	12.80%	-18.03%	128.00%	1.02%	-9.03%
	-4.79	-5.47	-1.75	0.21	5.64	16.99	-16.09	5.07	10.21	-1.92	-1.70	20.28	-4.13
EPS in Rs	-0.96	-1.09	-0.35	0.04	1.13	3.39	-3.21	1.01	2.04	-0.38	-0.34	4.05	-0.83
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	477	489	440	362	375	377	410	368	343	390	394	386	385
	440	456	440	348	354	359	398	371	323	384	378	362	368
Operating Profit	38	33	0	15	21	18	11	-2	20	5	17	25	17
OPM %	8%	7%	0%	4%	6%	5%	3%	-1%	6%	1%	4%	6%	5%
	15	15	10	10	11	12	8	24	16	13	33	33	40
Interest	8	11	12	15	15	17	18	19	16	16	23	25	24
Depreciation	11	13	18	21	18	18	18	17	17	18	16	19	21
Profit before tax	33	23	-20	-11	-2	-5	-16	-15	3	-16	10	14	13
Tax %	33%	53%	14%	6%	157%	22%	-2%	5%	66%	5%	33%	15%
	23	11	-22	-11	-4	-6	-16	-15	1	-16	7	12	13
EPS in Rs	4.50	2.19	-4.47	-2.29	-0.81	-1.13	-3.22	-3.04	0.22	-3.27	1.35	2.33	2.50
Dividend Payout %	18%	17%	-5%	-16%	-16%	0%	0%	-5%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-1%
3 Years:	4%
TTM:	-3%

Compounded Profit Growth
10 Years:	-16%
5 Years:	16%
3 Years:	89%
TTM:	-223%

Stock Price CAGR
10 Years:	13%
5 Years:	52%
3 Years:	47%
1 Year:	90%

Return on Equity
10 Years:	-4%
5 Years:	-3%
3 Years:	-1%
Last Year:	1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	5	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	265	291	262	257	244	234	218	181	178	166	179	185	203
	93	151	201	245	246	297	285	268	243	247	271	307	273
	80	93	85	61	61	53	64	71	68	81	78	69	53
Total Liabilities	443	541	553	568	556	588	572	525	494	500	533	566	534
	105	183	245	258	234	245	226	208	209	205	228	245	169
CWIP	2	27	22	38	30	29	31	33	21	17	22	16	12
Investments	3	2	1	1	7	9	8	4	13	19	29	40	45
	334	329	284	271	284	306	308	281	252	260	255	264	308
Total Assets	443	541	553	568	556	588	572	525	494	500	533	566	534

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	4	152	50	82	-6	7	33	37	49	16	27	6
	1	-111	-93	-83	-1	-21	2	16	2	-9	-29	-16
	-7	-12	21	-14	4	13	-37	-54	-47	-12	2	10
Net Cash Flow	-1	29	-22	-15	-4	0	-1	-1	5	-6	-0	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	56	57	54	60	59	50	55	49	57	69	62	58
Inventory Days	144	176	175	231	250	280	260	281	246	186	215	226
Days Payable	68	72	80	85	59	68	86	110	99	106	88	92
Cash Conversion Cycle	132	161	149	206	250	262	229	221	204	149	189	192
Working Capital Days	105	113	94	122	142	142	122	120	125	105	105	122
ROCE %	12%	8%	-2%	1%	2%	2%	0%	-1%	4%	2%	6%	6%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%
	1.50%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.10%	0.95%
	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%
	31.11%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.14%	31.50%	31.66%
No. of Shareholders	13,743	14,027	14,679	14,345	14,143	13,890	13,173	14,432	13,360	14,772	14,539	13,771

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	62.64%	63.94%	63.94%	63.96%	65.03%	65.03%	65.03%	65.03%	65.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	2.29%	2.22%	2.22%	2.22%	2.22%	1.46%	1.46%	1.46%	0.95%
	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%
	32.70%	31.47%	31.48%	31.46%	30.39%	31.15%	31.15%	31.14%	31.66%
No. of Shareholders	10,896	10,624	9,914	9,553	11,609	14,027	13,890	14,772	13,771

* 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.

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Elgi Rubber Company Ltd

Elgi Rubber Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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