HBL Power Systems Ltd

About

HBL Power Systems Limited is engaged in the business of manufacturing batteries. The Company's segments include Batteries and Electronics.

  • Market Cap 1,331 Cr.
  • Current Price 48.0
  • High / Low 58.0 / 15.2
  • Stock P/E 34.8
  • Book Value 28.2
  • Dividend Yield 0.73 %
  • ROCE 4.43 %
  • ROE 2.20 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 44.12%

Cons

  • The company has delivered a poor sales growth of -6.82% over past five years.
  • Company has a low return on equity of 2.77% for last 3 years.
  • Company's cost of borrowing seems high

Peer comparison

Sector: Dry cells Industry: Dry Cells

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
264 306 259 263 121 258 233 300 231
245 285 241 240 123 234 213 275 215
Operating Profit 19 21 18 22 -2 25 21 24 15
OPM % 7% 7% 7% 8% -2% 10% 9% 8% 7%
Other Income 7 5 4 6 2 1 2 -1 18
Interest 5 5 5 7 4 5 4 2 2
Depreciation 10 11 10 10 10 9 10 9 9
Profit before tax 10 10 7 12 -15 11 9 13 22
Tax % 40% 33% 47% 27% 2% 23% 15% 17% 8%
Net Profit 6 6 4 9 -14 9 8 10 21
EPS in Rs 0.22 0.23 0.15 0.34 -0.49 0.33 0.30 0.37 0.75

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,115 1,205 1,562 1,709 1,304 1,349 1,299 1,414 1,603 1,266 1,092 912 1,022
911 1,120 1,346 1,487 1,208 1,210 1,164 1,286 1,477 1,169 1,011 845 937
Operating Profit 204 84 216 222 95 139 134 129 126 97 81 67 85
OPM % 18% 7% 14% 13% 7% 10% 10% 9% 8% 8% 7% 7% 8%
Other Income 7 28 6 23 66 9 12 21 16 21 22 6 20
Interest 39 59 117 126 76 71 68 46 41 31 22 15 12
Depreciation 28 40 54 64 39 53 51 48 46 44 41 39 38
Profit before tax 143 13 51 55 46 24 27 54 55 43 40 19 55
Tax % 30% -52% 38% 33% 16% 43% 45% 29% 42% 35% 35% 29%
Net Profit 100 17 19 23 40 14 15 39 32 28 26 14 48
EPS in Rs 3.94 0.67 0.73 0.93 1.57 0.56 0.59 1.53 1.14 1.00 0.95 0.50 1.75
Dividend Payout % 8% 15% 20% 16% 13% 36% 42% 18% 22% 30% 32% 71%
Compounded Sales Growth
10 Years:-3%
5 Years:-7%
3 Years:-17%
TTM:8%
Compounded Profit Growth
10 Years:6%
5 Years:3%
3 Years:-23%
TTM:491%
Stock Price CAGR
10 Years:11%
5 Years:9%
3 Years:18%
1 Year:195%
Return on Equity
10 Years:4%
5 Years:4%
3 Years:3%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
25 25 25 25 25 25 25 28 28 28 28 28
Reserves 483 542 501 519 536 539 584 701 724 739 745 754
Borrowings 429 692 916 879 734 686 549 479 366 232 161 70
197 567 493 700 459 311 277 258 224 162 169 184
Total Liabilities 1,134 1,826 1,935 2,123 1,755 1,562 1,435 1,467 1,342 1,161 1,103 1,036
348 777 841 847 495 456 415 417 363 321 304 279
CWIP 82 101 66 72 56 49 48 33 26 37 27 43
Investments 3 28 32 30 1 2 8 8 5 5 6 7
701 921 996 1,174 1,202 1,054 964 1,008 947 797 766 707
Total Assets 1,134 1,826 1,935 2,123 1,755 1,562 1,435 1,467 1,342 1,161 1,103 1,036

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
17 14 156 35 -36 79 158 43 159 167 149 119
-100 -429 -103 -35 156 -13 -10 60 -8 1 -6 -30
61 408 -95 2 -115 -66 -153 -114 -150 -163 -114 -104
Net Cash Flow -22 -8 -42 1 5 -0 -5 -11 1 5 29 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 111 114 111 114 122 106 120 122 103 105 102 102
Inventory Days 139 149 134 188 276 226 185 168 126 145 162 188
Days Payable 76 106 86 106 134 81 77 68 43 34 41 44
Cash Conversion Cycle 175 157 159 196 265 252 228 222 186 216 222 246
Working Capital Days 150 101 123 149 193 189 179 182 155 169 171 169
ROCE % 22% 6% 13% 12% 5% 8% 8% 8% 9% 6% 6% 4%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
56.35 56.38 56.46 56.71 57.00 57.32 57.85 57.85 58.15 58.46 58.51 58.60
11.00 11.02 11.05 11.06 11.06 11.06 11.05 10.55 10.50 10.54 10.67 10.71
12.42 12.41 12.53 12.59 12.06 11.77 11.29 10.81 9.84 9.68 9.75 9.68
20.23 20.19 19.95 19.64 19.88 19.85 19.81 20.79 21.51 21.31 21.07 21.01

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