Ganga Forging Ltd

Ganga Forging Ltd

₹ 8.06 2.68%
18 Jun 3:59 p.m.
About

Incorporated in 1988, Ganga Forging Ltd is in the business of production and job work of forging items

Key Points

Business Overview:[1][2]
Company manufactures closed die forged products for both automotive and non automotive segment. Company's forging unit caters to needs of OEM customers and also part manufacturing units by offering them products. Company also exports forged components in raw, semi finished or finished stage depending upon requirements of its buyers

  • Market Cap 89.4 Cr.
  • Current Price 8.06
  • High / Low 17.5 / 5.60
  • Stock P/E 208
  • Book Value 2.34
  • Dividend Yield 0.00 %
  • ROCE 4.61 %
  • ROE 1.92 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.44 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -2.70%
  • Company has a low return on equity of 4.84% over last 3 years.
  • Company might be capitalizing the interest cost
  • Debtor days have increased from 68.8 to 83.1 days.
  • Working capital days have increased from 168 days to 252 days

* 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

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
7.38 5.31 7.74 8.12 7.49 7.63 9.21 8.13 8.44 9.86 8.57 8.55 10.24
7.32 4.87 7.15 7.18 6.91 7.29 8.79 7.59 7.75 9.34 8.03 7.91 9.44
Operating Profit 0.06 0.44 0.59 0.94 0.58 0.34 0.42 0.54 0.69 0.52 0.54 0.64 0.80
OPM % 0.81% 8.29% 7.62% 11.58% 7.74% 4.46% 4.56% 6.64% 8.18% 5.27% 6.30% 7.49% 7.81%
0.29 0.27 0.74 0.02 -0.02 0.00 0.09 0.00 0.35 0.00 0.03 0.01 0.07
Interest 0.23 0.11 0.21 0.11 0.27 0.10 0.23 0.22 0.26 0.16 0.18 0.22 0.29
Depreciation 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.21 0.22 0.22 0.22 0.34
Profit before tax -0.10 0.38 0.90 0.63 0.07 0.02 0.06 0.10 0.57 0.14 0.17 0.21 0.24
Tax % 250.00% 2.63% 1.11% -6.35% 1,371.43% 150.00% -50.00% 40.00% -142.11% 14.29% -29.41% -9.52% 108.33%
0.15 0.37 0.89 0.66 -0.89 -0.01 0.09 0.07 1.37 0.12 0.22 0.23 -0.02
EPS in Rs 0.01 0.03 0.08 0.06 -0.08 -0.00 0.01 0.01 0.13 0.01 0.02 0.02 -0.00
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
8.98 17.36 24.87 27.88 23.64 22.98 28.83 33.41 37.21
8.15 16.22 22.90 25.53 24.39 21.28 26.28 31.41 34.71
Operating Profit 0.83 1.14 1.97 2.35 -0.75 1.70 2.55 2.00 2.50
OPM % 9.24% 6.57% 7.92% 8.43% -3.17% 7.40% 8.84% 5.99% 6.72%
0.01 0.02 0.03 0.17 0.10 0.10 1.26 0.57 0.10
Interest 0.33 0.46 0.79 1.12 1.27 0.79 0.95 0.81 0.85
Depreciation 0.30 0.41 0.50 0.74 0.88 0.87 0.88 0.88 1.00
Profit before tax 0.21 0.29 0.71 0.66 -2.80 0.14 1.98 0.88 0.75
Tax % 42.86% 72.41% 35.21% 21.21% 24.64% -85.71% 47.47% -88.64% 41.33%
0.11 0.09 0.46 0.52 -2.12 0.25 1.03 1.66 0.44
EPS in Rs 2.20 1.80 0.06 0.05 -0.20 0.02 0.10 0.16 0.03
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: 6%
3 Years: 17%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 0%
3 Years: 14%
TTM: -63%
Stock Price CAGR
10 Years: %
5 Years: 40%
3 Years: 0%
1 Year: 29%
Return on Equity
10 Years: %
5 Years: 1%
3 Years: 5%
Last Year: 2%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0.35 0.35 5.57 7.95 7.95 10.60 10.60 10.60 13.42
Reserves 0.87 0.96 3.02 6.17 4.05 0.12 1.05 2.74 18.00
4.37 2.84 7.83 12.67 11.57 10.54 11.67 14.30 9.98
2.70 5.42 8.75 8.47 9.48 9.69 7.73 7.08 4.91
Total Liabilities 8.29 9.57 25.17 35.26 33.05 30.95 31.05 34.72 46.31
1.95 1.89 9.34 15.68 15.05 14.55 13.90 15.55 16.48
CWIP 0.00 0.00 0.00 0.00 0.36 0.00 2.21 0.75 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
6.34 7.68 15.83 19.58 17.64 16.40 14.94 18.42 29.83
Total Assets 8.29 9.57 25.17 35.26 33.05 30.95 31.05 34.72 46.31

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0.00 0.00 -1.83 2.35 1.98 1.33 -1.09 -10.64
0.00 0.00 -6.91 -0.60 -0.03 -1.69 -0.56 -1.16
0.00 0.00 8.81 -1.76 -1.83 0.19 1.81 12.47
Net Cash Flow 0.00 0.00 0.07 -0.02 0.12 -0.17 0.17 0.68

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 144.29 97.14 119.32 119.79 135.56 114.84 61.02 62.38 83.08
Inventory Days 155.46 87.56 132.52 204.65 181.30 182.42 244.86
Days Payable 151.16 159.41 162.53 183.92 82.43 75.71 29.39
Cash Conversion Cycle 148.59 25.29 89.31 119.79 135.56 135.56 159.89 169.09 298.55
Working Capital Days 125.60 39.53 73.38 127.51 103.45 113.88 116.10 134.92 252.19
ROCE % 15.40% 7.50% -6.08% 4.33% 9.78% 4.67%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.63% 67.63% 67.63% 67.63% 67.63% 67.63% 59.53% 59.53% 59.53% 59.35% 43.52% 40.82%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.04%
32.36% 32.37% 32.37% 32.37% 32.37% 32.37% 40.47% 40.47% 40.47% 40.65% 56.48% 59.14%
No. of Shareholders 1145,3639,39027,63430,28928,79229,34528,31929,38126,69634,38447,335

* 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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