Godawari Power & Ispat Ltd
Godawari Power & Ispat is mainly engaged in the business of Mining of Iron Ore and Manufacturing of Iron Ore Pellets, Sponge Iron, Steel Billets, Wire Rods, H.B. Wire and Ferro Alloys with generation of Electricity.
Captive Iron Ore Mines:
Company has two capitve mines- Ari Dongri Mine & Boria Tibu Mine.
GPIL sources 85% of its iron ore needs captively from its mines for the production of steel.
Captive mining leads to huge raw material costs saving.
Subsidiary-ASL has to rely on merchant mines for its RM needs.
Capacity as of FY20: #
Iron Ore: 2.1 million tonne per annum
Iron Ore Pellet: 2.8 million tonne per annum (inclusive of ASL pellet capacity)
Sponge Iron: 0.5 million tonne per annum
Billet: 0.4 million tonne per annum
MS Rounds: 0.4 million tonne per annum
HB Wires: 0.15 million tonne per annum
Ferro Alloys: 16,500 tonne per annum
Power: 73 MW
Stake Sale in Subsidiary-Ardent Steel Ltd: #
GPIL has reduced its stake in ASL to 37.85%, from 76.34%, but will retain management control.
It will utilise the proceeds, of around 76.24 Cr (net of capital gain tax), towards debt reduction.
Environmental Clearance for expansion & modernization of existing facilities: #
This will increase forward integration and provide more capacity for beneficiation of iron ore.
MoU with the Government of Chhattisgarh: #
Cost of project is estimated at 1400 Cr for Raipur Region & 900 Cr for Bastar Region.
It will be implemented in phased manner mainly out of internal accruals.
The investment will be spread out over 4-5 years.
Power Subsidiary-Godawari Green Energy: #
Solar plant located at Jaisalmer, Rajasthan. The project was awarded under Jawaharlal Nehru National Solar Mission, Phase I of Govt. of India.
Operational since FY14, fixed price PPA with NTPC Vidyut Vyapar Nigam for 25 years at
12.20/unit. Solar plant is self sufficient to meet its debt obligation.
- Market Cap ₹ 1,820 Cr.
- Current Price ₹ 517
- High / Low ₹ 560 / 80.5
- Stock P/E 7.91
- Book Value ₹ 422
- Dividend Yield 0.00 %
- ROCE 16.2 %
- ROE 14.5 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 35.45% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoters have pledged 32.51% of their holding.
Peer comparison
Sector: Steel Industry: Steel - Medium / Small
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
672 | 743 | 720 | 804 | 903 | 894 | 834 | 828 | 837 | 787 | 711 | 967 | |
503 | 536 | 536 | 600 | 689 | 707 | 659 | 662 | 708 | 634 | 554 | 732 | |
Operating Profit | 169 | 207 | 184 | 204 | 214 | 188 | 175 | 166 | 129 | 153 | 158 | 234 |
OPM % | 25% | 28% | 26% | 25% | 24% | 21% | 21% | 20% | 15% | 19% | 22% | 24% |
Other Income | 0 | -15 | 1 | 1 | 1 | 3 | 1 | 1 | 4 | -10 | 1 | 1 |
Interest | 65 | 66 | 63 | 65 | 62 | 63 | 56 | 55 | 52 | 50 | 47 | 43 |
Depreciation | 33 | 33 | 33 | 34 | 33 | 33 | 33 | 35 | 33 | 35 | 36 | 36 |
Profit before tax | 71 | 93 | 88 | 107 | 120 | 95 | 87 | 77 | 47 | 58 | 77 | 156 |
Tax % | -3% | -10% | 36% | 36% | 39% | 38% | 35% | 32% | 36% | 41% | 34% | 33% |
Net Profit | 72 | 101 | 58 | 67 | 68 | 59 | 54 | 49 | 30 | 33 | 46 | 104 |
EPS in Rs | 20.46 | 28.53 | 16.48 | 18.90 | 19.32 | 16.85 | 15.44 | 14.02 | 8.41 | 9.47 | 13.19 | 29.55 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,091 | 822 | 1,118 | 2,059 | 2,355 | 2,113 | 2,384 | 1,976 | 1,799 | 2,506 | 3,294 | 3,270 | 3,302 | |
968 | 691 | 883 | 1,763 | 2,024 | 1,766 | 2,026 | 1,759 | 1,508 | 1,909 | 2,505 | 2,647 | 2,628 | |
Operating Profit | 123 | 131 | 235 | 296 | 331 | 347 | 358 | 217 | 291 | 597 | 790 | 623 | 674 |
OPM % | 11% | 16% | 21% | 14% | 14% | 16% | 15% | 11% | 16% | 24% | 24% | 19% | 20% |
Other Income | 11 | 4 | 13 | 11 | 15 | 16 | 60 | 14 | 16 | 6 | 9 | -1 | -4 |
Interest | 36 | 34 | 73 | 130 | 121 | 165 | 224 | 252 | 259 | 263 | 253 | 212 | 191 |
Depreciation | 28 | 34 | 55 | 68 | 71 | 105 | 118 | 126 | 120 | 132 | 133 | 137 | 140 |
Profit before tax | 70 | 67 | 119 | 110 | 154 | 92 | 77 | -147 | -73 | 208 | 414 | 273 | 337 |
Tax % | 12% | 16% | 17% | 20% | -3% | 24% | 8% | 32% | -1% | -3% | 37% | 35% | |
Net Profit | 62 | 57 | 86 | 84 | 149 | 58 | 66 | -89 | -75 | 208 | 252 | 167 | 214 |
EPS in Rs | 22.20 | 20.39 | 27.04 | 26.54 | 45.43 | 17.66 | 20.21 | -27.07 | -21.15 | 58.93 | 71.55 | 47.33 | 60.62 |
Dividend Payout % | 11% | 12% | 9% | 9% | 6% | 14% | 5% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 7% |
3 Years: | 22% |
TTM: | -5% |
Compounded Profit Growth | |
---|---|
10 Years: | 12% |
5 Years: | 35% |
3 Years: | 64% |
TTM: | -6% |
Stock Price CAGR | |
---|---|
10 Years: | 11% |
5 Years: | 55% |
3 Years: | -2% |
1 Year: | 114% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 10% |
3 Years: | 21% |
Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
27 | 27 | 32 | 32 | 33 | 33 | 33 | 32 | 34 | 34 | 64 | 34 | 34 | |
Reserves | 419 | 471 | 573 | 646 | 745 | 831 | 892 | 763 | 663 | 889 | 1,135 | 1,291 | 1,453 |
Borrowings | 355 | 518 | 765 | 961 | 1,684 | 2,084 | 2,038 | 2,007 | 2,214 | 2,124 | 1,856 | 1,697 | 1,370 |
89 | 112 | 323 | 376 | 655 | 566 | 786 | 613 | 342 | 405 | 486 | 459 | 583 | |
Total Liabilities | 890 | 1,128 | 1,693 | 2,015 | 3,116 | 3,514 | 3,748 | 3,415 | 3,253 | 3,452 | 3,511 | 3,482 | 3,439 |
411 | 634 | 971 | 1,051 | 1,070 | 2,328 | 2,403 | 2,289 | 2,326 | 2,264 | 2,249 | 2,269 | 2,204 | |
CWIP | 202 | 194 | 94 | 285 | 1,190 | 137 | 187 | 238 | 136 | 171 | 130 | 137 | 148 |
Investments | 10 | 12 | 22 | 18 | 18 | 51 | 67 | 114 | 108 | 131 | 132 | 123 | 138 |
267 | 288 | 606 | 662 | 839 | 998 | 1,091 | 774 | 683 | 885 | 1,000 | 951 | 949 | |
Total Assets | 890 | 1,128 | 1,693 | 2,015 | 3,116 | 3,514 | 3,748 | 3,415 | 3,253 | 3,452 | 3,511 | 3,482 | 3,439 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
155 | 101 | 45 | 305 | 321 | 56 | 551 | 377 | 15 | 451 | 550 | 551 | |
-200 | -250 | -250 | -371 | -982 | -276 | -268 | -6 | 14 | -121 | -66 | -150 | |
25 | 125 | 312 | -11 | 644 | 213 | -279 | -374 | -21 | -354 | -491 | -401 | |
Net Cash Flow | -20 | -24 | 106 | -76 | -18 | -7 | 4 | -2 | 8 | -24 | -7 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 14% | 11% | 16% | 16% | 13% | 10% | 9% | 4% | 6% | 16% | 22% | 16% |
Debtor Days | 10 | 17 | 22 | 17 | 17 | 18 | 24 | 18 | 23 | 23 | 17 | 20 |
Inventory Turnover | 5.55 | 3.72 | 3.09 | 4.76 | 4.97 | 3.81 | 4.06 | 3.58 | 3.49 | 4.27 | 3.93 | 3.51 |
Documents
Add documentRecent announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 11h
- Closure of Trading Window 1d
- Board Meeting Intimation for Notice Of Board Meeting To Be Held On 30.01.2021 1d
- Shareholding for the Period Ended December 31, 2020 18 Jan
- Sale of Stake in Ardent Steel Limited 16 Jan
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2013 from nse
- Financial Year 2012 from bse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse