Emkay Taps & Cutting Tools Ltd

Emkay Taps & Cutting Tools is presently engaged in the business of Manufacture of Taps & Cutting Tools and Production of Power through Windmill.(Source : 201903 Annual Report Page No: 59)

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.93 times its book value
Cons:
Dividend payout has been low at 4.27% of profits over last 3 years

Peer Comparison Sector: Engineering // Industry: Engineering

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Quarterly Results Figures in Rs. Crores

Operating Profit
OPM %
Other Income
Interest
Depreciation
Profit before tax
Tax %
Net Profit
EPS in Rs

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
18.73 28.09 34.65 30.97 29.75 44.14 49.12 52.65 63.35 75.47
11.15 17.65 21.42 21.22 18.43 27.41 32.24 33.88 40.45 46.80
Operating Profit 7.58 10.44 13.23 9.75 11.32 16.73 16.88 18.77 22.90 28.67
OPM % 40.47% 37.17% 38.18% 31.48% 38.05% 37.90% 34.36% 35.65% 36.15% 37.99%
Other Income 0.36 2.52 1.21 0.58 0.26 2.47 4.67 2.13 6.21 -12.56
Interest 0.48 0.72 0.54 0.23 0.03 0.15 0.22 0.40 0.48 0.35
Depreciation 1.19 3.01 2.77 2.88 2.57 2.64 2.22 2.84 3.16 2.93
Profit before tax 6.27 9.23 11.13 7.22 8.98 16.41 19.11 17.66 25.47 12.83
Tax % 33.17% 26.76% 25.07% 31.99% 36.08% 33.94% 26.48% 32.96% 21.91% 58.92%
Net Profit 4.19 6.76 8.35 4.92 5.74 10.84 14.05 11.85 19.89 5.27
EPS in Rs 8.22 13.26 16.36 9.64 11.25 10.13 13.13 11.07 18.59 4.94
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.68% 10.12%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:20.46%
3 Years:15.39%
TTM:19.13%
Compounded Profit Growth
10 Years:%
5 Years:17.23%
3 Years:-3.29%
TTM:-37.48%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:-58.53%
Return on Equity
10 Years:%
5 Years:17.53%
3 Years:16.08%
Last Year:11.96%

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
0.85 0.85 0.85 0.85 0.85 1.78 1.78 1.78 1.78 10.67
Reserves 22.52 29.29 37.63 42.55 48.71 56.25 70.58 82.68 102.15 97.88
Borrowings 7.74 7.63 5.35 1.82 1.86 1.67 2.26 5.10 4.27 2.86
7.62 5.14 6.79 5.75 6.70 7.67 6.39 7.79 9.65 9.27
Total Liabilities 38.73 42.91 50.62 50.97 58.12 67.37 81.01 97.35 117.85 120.68
20.41 18.28 18.70 18.02 15.57 13.94 16.39 18.15 16.99 17.11
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.53 0.00 1.44
Investments 6.25 9.46 14.10 16.06 24.40 30.61 36.35 48.55 70.80 65.04
12.07 15.17 17.82 16.89 18.15 22.82 28.27 30.12 30.06 37.09
Total Assets 38.73 42.91 50.62 50.97 58.12 67.37 81.01 97.35 117.85 120.68

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
13.51 1.56 9.07 8.23 7.84 7.82 5.19 11.70 19.21 13.77
-16.60 -1.58 -6.85 -3.60 -7.79 -4.03 -5.88 -14.89 -17.31 -11.27
2.79 -0.83 -2.83 -3.75 0.00 -2.86 0.48 2.50 -1.67 -2.29
Net Cash Flow -0.30 -0.85 -0.61 0.88 0.05 0.93 -0.21 -0.69 0.24 0.21

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
ROCE % 28.89% 28.60% 16.73% 18.65% 29.81% 28.78% 21.90% 26.82% 28.86%
Debtor Days 96.66 94.08 82.27 81.44 91.40 78.97 81.96 92.34 87.17 79.85
Inventory Turnover 5.96 5.60 4.21 3.79 4.97 4.46 4.13 5.01 5.26