Gandhi Special Tubes Ltd

Gandhi Special Tubes is engaged in manufacture of Seamless and Welded Tubes, Nuts and generation of Wind Power.(Source : 201903 Annual Report Page No: 89)

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 24.21% over 5 years
Company has been maintaining a healthy dividend payout of 37.40%
Cons:
The company has delivered a poor growth of 8.03% over past five years.

Peer Comparison Sector: Steel // Industry: Steel - Medium / Small

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
27 22 22 28 30 28 28 38 34 28 24 24
18 16 14 18 18 18 19 23 21 19 15 16
Operating Profit 9 7 8 11 11 11 9 15 13 9 9 8
OPM % 34% 30% 35% 37% 38% 37% 31% 39% 38% 33% 37% 32%
Other Income 3 2 2 2 2 2 2 1 2 3 2 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 11 8 9 12 13 11 9 15 14 11 10 8
Tax % 31% -0% 23% 27% 32% 17% 28% 25% 27% 8% 28% 27%
Net Profit 8 8 7 9 9 9 7 11 10 10 7 6
EPS in Rs 5.19 5.18 4.65 6.02 5.91 6.33 4.59 8.18 7.24 7.12 5.41 4.17
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
76 56 78 92 107 96 84 92 91 98 114 123 109
47 34 44 52 64 63 57 69 64 65 73 77 71
Operating Profit 29 22 33 40 42 32 26 23 27 33 41 46 39
OPM % 38% 39% 43% 44% 40% 34% 31% 25% 30% 34% 36% 37% 35%
Other Income 3 7 8 2 4 3 8 4 3 10 8 8 8
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 5 5 5 4 5 5 5 4 4 4 4
Profit before tax 27 23 36 37 42 31 29 23 25 38 45 50 43
Tax % 30% 31% 30% 30% 28% 28% 41% 31% 26% 19% 26% 22%
Net Profit 19 16 25 26 30 22 17 16 19 31 34 39 33
EPS in Rs 12.39 10.41 16.38 17.05 19.31 14.04 10.76 9.21 11.09 20.96 24.29 27.96 23.94
Dividend Payout % 20% 23% 29% 28% 30% 40% 64% 70% 59% 43% 37% 32%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.14%
5 Years:8.03%
3 Years:10.47%
TTM:-11.54%
Compounded Profit Growth
10 Years:9.18%
5 Years:24.21%
3 Years:27.95%
TTM:-8.13%
Stock Price CAGR
10 Years:13.99%
5 Years:11.15%
3 Years:0.15%
1 Year:-15.00%
Return on Equity
10 Years:16.53%
5 Years:15.47%
3 Years:18.61%
Last Year:20.24%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
7 7 7 7 7 7 7 7 7 7 7 7
Reserves 66 77 94 112 131 143 150 153 158 180 170 194
Borrowings 1 0 0 0 0 0 0 0 0 0 0 0
10 11 11 12 13 14 15 15 16 19 21 21
Total Liabilities 84 96 112 131 152 165 173 175 181 207 198 222
50 47 42 38 36 52 64 63 59 55 51 51
CWIP 0 0 0 0 1 4 0 0 0 0 0 0
Investments 4 18 31 51 68 61 64 65 82 104 99 120
30 32 39 41 48 48 45 47 41 47 48 51
Total Assets 84 96 112 131 152 165 173 175 181 207 198 222

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
19 20 21 28 27 27 14 15 29 21 32 31
-15 -16 -11 -20 -15 -18 -4 -1 -14 -5 13 -17
-5 -5 -9 -9 -10 -10 -10 -13 -13 -16 -44 -15
Net Cash Flow -0 0 1 -0 2 -1 -1 0 1 0 1 -1

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 40% 29% 38% 34% 31% 21% 15% 13% 15% 21% 25% 26%
Debtor Days 46 65 69 62 56 57 67 50 65 61 62 46
Inventory Turnover 5.98 3.46 4.33 5.00 5.28 4.47 3.72 3.58 4.07 4.72 5.13 5.23