Godawari Power & Ispat Ltd

Godawari Power & Ispat is mainly engaged in Generation of Electricity, Mining of Iron Ore and Manufacturing of Iron Ore Pellets, Sponge Iron, Steel Billets, Wire Rods, H.B. Wire and Ferro Alloys.(Source : 201903 Annual Report Page No: 86)

Pros:
Stock is trading at 0.42 times its book value
Company has good consistent profit growth of 34.26% over 5 years
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Promoters have pledged 32.57% of their holding

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
394 426 574 558 555 672 743 720 804 903 894 834
345 337 472 456 435 503 536 536 600 689 707 659
Operating Profit 49 90 102 101 120 169 207 184 204 214 188 175
OPM % 12% 21% 18% 18% 22% 25% 28% 26% 25% 24% 21% 21%
Other Income 4 6 3 3 15 0 -15 1 1 1 3 2
Interest 65 73 54 66 66 65 66 63 65 62 63 56
Depreciation 30 29 31 33 34 33 33 33 34 33 33 33
Profit before tax -42 -7 20 6 34 71 93 88 107 120 95 87
Tax % -19% -35% 14% 0% 16% -3% -10% 36% 36% 39% 38% 35%
Net Profit -50 -10 15 7 28 72 101 58 67 68 59 54
EPS in Rs -15.20 -2.81 4.80 2.00 8.33 21.11 29.54 17.02 18.90 19.32 17.28 16.45
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
806 1,091 822 1,118 2,059 2,355 2,113 2,384 1,976 1,799 2,506 3,294 3,435
638 968 691 883 1,763 2,024 1,766 2,026 1,759 1,508 1,909 2,505 2,655
Operating Profit 168 123 131 235 296 331 347 358 217 291 597 790 780
OPM % 21% 11% 16% 21% 14% 14% 16% 15% 11% 16% 24% 24% 23%
Other Income 2 11 4 13 11 15 16 60 14 16 6 9 7
Interest 31 36 34 73 130 121 165 224 252 259 263 253 245
Depreciation 26 28 34 55 68 71 105 118 126 120 132 133 133
Profit before tax 113 70 67 119 110 154 92 77 -147 -73 208 414 409
Tax % 12% 12% 16% 17% 20% -3% 24% 8% 32% -1% -3% 37%
Net Profit 99 62 57 86 84 149 58 66 -89 -75 208 252 248
EPS in Rs 35.91 22.69 20.81 26.56 26.10 45.01 16.77 19.93 0.00 0.00 60.87 73.91 71.95
Dividend Payout % 11% 11% 12% 9% 9% 6% 14% 5% -0% -0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:11.68%
5 Years:9.29%
3 Years:18.57%
TTM:27.72%
Compounded Profit Growth
10 Years:15.01%
5 Years:34.26%
3 Years:69.24%
TTM:-5.44%
Stock Price CAGR
10 Years:-0.24%
5 Years:-2.15%
3 Years:28.83%
1 Year:-63.69%
Return on Equity
10 Years:10.09%
5 Years:7.68%
3 Years:14.88%
Last Year:24.11%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
27 27 27 32 32 33 33 33 32 34 34 34
Reserves 364 419 471 573 646 745 831 892 763 663 889 1,135
Borrowings 293 355 518 765 961 1,684 2,084 2,038 2,007 2,214 2,124 1,886
83 89 113 337 388 659 630 858 835 574 647 730
Total Liabilities 767 890 1,130 1,706 2,027 3,120 3,578 3,821 3,637 3,485 3,694 3,785
409 411 634 971 1,051 1,070 2,328 2,403 2,289 2,326 2,264 2,249
CWIP 15 202 194 94 285 1,190 137 187 238 136 171 130
Investments 19 10 12 22 18 18 51 67 114 108 131 132
323 267 290 620 674 843 1,062 1,164 995 915 1,127 1,274
Total Assets 767 890 1,130 1,706 2,027 3,120 3,578 3,821 3,637 3,485 3,694 3,785

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
66 155 101 45 305 321 56 551 377 15 451 550
-74 -200 -250 -250 -371 -982 -276 -268 -6 14 -121 -66
59 25 125 312 -11 644 213 -279 -374 -21 -354 -491
Net Cash Flow 51 -20 -24 106 -76 -18 -7 4 -2 8 -24 -7

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 24% 14% 11% 16% 16% 13% 10% 9% 4% 6% 16% 22%
Debtor Days 20 10 17 22 17 17 18 24 18 23 23 18
Inventory Turnover 6.43 6.83 5.17 4.86 6.50 6.79 5.64 5.81 4.77 5.04 6.80 6.28