Godawari Power & Ispat Ltd

Godawari Power & Ispat Ltd produces mild steel wires, sponge iron, billets, ferro alloys, steel wires, oxygen gas, fly ash brick and iron ore pellets.

Pros:
Stock is trading at 1.07 times its book value
Company is expected to give good quarter
Cons:
The company has delivered a poor growth of 2.06% over past five years.
Company has a low return on equity of 2.64% for last 3 years.
Promoters have pledged 44.29% of their holding

Peer Comparison

Steel >> Steel - Medium / Small
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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
343 314 379 365 348 454 475 455 574 623 643 713
313 294 357 340 307 380 403 371 449 470 489 546
Operating Profit 30 20 22 25 41 75 72 83 124 153 154 167
OPM % 9% 6% 6% 7% 12% 16% 15% 18% 22% 25% 24% 23%
Other Income 4 3 1 4 6 3 3 14 0 -15 1 1
Interest 42 42 45 44 41 46 46 47 46 47 45 47
Depreciation 18 19 19 20 20 19 22 23 22 22 23 23
Profit before tax -27 -38 -41 -34 -14 11 7 28 57 69 87 97
Tax % 37% 43% 28% -32% 4% 3% 4% 19% -13% -28% 36% 36%
Net Profit -17 -21 -30 -45 -14 11 7 23 64 88 56 62

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
443 829 1,034 776 941 1,745 1,910 1,537 1,926 1,535 1,544 2,115 2,552
364 668 919 653 747 1,496 1,669 1,325 1,663 1,385 1,381 1,683 1,954
Operating Profit 79 161 115 123 193 249 241 212 263 150 163 432 599
OPM % 18% 19% 11% 16% 21% 14% 13% 14% 14% 10% 11% 20% 23%
Other Income 2 1 10 3 3 3 10 24 16 12 14 3 -14
Interest 12 30 34 32 60 101 92 115 145 163 177 185 185
Depreciation 11 24 26 32 47 51 52 67 66 73 78 89 90
Profit before tax 59 108 65 62 89 100 106 55 69 -75 -78 161 310
Tax % 11% 12% 12% 17% 20% 21% -17% -1% 10% 35% 1% -13%
Net Profit 52 95 57 51 71 79 124 56 62 -48 -77 182 270
EPS in Rs 20.60 33.16 20.01 17.89 22.02 24.45 37.50 17.08 18.80 0.00 0.00 53.34
Dividend Payout % 14% 12% 12% 14% 11% 10% 7% 15% 5% -0% -0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.82%
5 Years:2.06%
3 Years:3.16%
TTM:47.33%
Compounded Profit Growth
10 Years:6.97%
5 Years:8.47%
3 Years:45.03%
TTM:906.64%
Return on Equity
10 Years:8.71%
5 Years:4.67%
3 Years:2.64%
TTM:24.01%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
25 28 28 28 32 32 33 33 33 32 34 34 34
Reserves 180 356 405 452 527 597 671 732 788 699 651 833 949
Borrowings 277 284 332 392 644 685 1,015 1,182 1,189 1,330 1,551 1,499 1,349
44 73 77 97 85 168 300 356 587 481 321 383 259
Total Liabilities 526 742 842 968 1,288 1,483 2,018 2,303 2,596 2,541 2,557 2,749 2,592
263 384 380 581 686 677 691 1,248 1,339 1,362 1,435 1,408 1,428
CWIP 103 13 171 60 37 136 412 65 114 165 59 89 46
Investments 21 32 45 72 212 212 253 289 294 276 280 281 349
139 313 246 255 354 457 662 701 849 738 783 972 769
Total Assets 526 742 842 968 1,288 1,483 2,018 2,303 2,596 2,541 2,557 2,749 2,592

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
45 50 159 101 82 193 144 233 365 159 -75 323
-199 -65 -187 -148 -219 -166 -366 -273 -219 -127 -5 -100
163 66 5 19 126 -20 224 39 -142 -21 76 -237
Net Cash Flow 9 51 -22 -27 -11 8 1 -2 4 12 -5 -14

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 19% 24% 14% 12% 14% 16% 13% 9% 11% 4% 5% 15%
Debtor Days 19 21 11 17 21 17 20 18 22 20 17 19
Inventory Turnover 8 7 7 5 5 7 7 6 6 4 5 6