HEG Ltd

HEG is engaged in a leading manufacturer and exporter of graphite electrodes in India and operates worlds largest single-site integrated graphite electrodes plant.(Source : 201903 Annual Report Page No: 124)

Pros:
Stock is providing a good dividend yield of 6.58%.
Company has good consistent profit growth of 98.09% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 77.04%
Cons:
** Remarks:
Return on equity is exceptional

Peer Comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Electrodes - Graphites

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Mar 2019 Jun 2019
1,587 1,347 817
399 559 469
Operating Profit 1,188 788 348
OPM % 75% 59% 43%
Other Income 8 42 39
Interest 2 6 9
Depreciation 18 18 18
Profit before tax 1,177 806 360
Tax % 35% 35% 35%
Net Profit 776 482 243
EPS in Rs 194.11 124.96 63.09
Notes Notes Notes

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
1,115 1,102 1,417 1,619 1,440 1,228 870 859 2,748 6,591
772 880 1,175 1,326 1,199 1,046 733 778 1,027 1,933
Operating Profit 343 222 242 293 240 182 137 81 1,721 4,658
OPM % 31% 20% 17% 18% 17% 15% 16% 9% 63% 71%
Other Income 10 25 -77 -41 2 15 4 7 12 109
Interest 59 22 41 64 72 77 60 55 56 18
Depreciation 51 57 58 63 73 75 79 74 73 72
Profit before tax 242 168 67 125 97 44 1 -41 1,605 4,677
Tax % 29% 23% 7% 16% 11% 12% 886% -23% 33% 35%
Net Profit 185 121 57 100 81 36 4 -44 1,099 3,026
EPS in Rs 41.73 26.72 13.51 23.77 19.18 8.52 1.10 0.00 275.11 784.06
Dividend Payout % 23% 35% 35% 32% 30% 33% 0% -0% 29% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:35.57%
3 Years:96.44%
TTM:139.87%
Compounded Profit Growth
10 Years:%
5 Years:98.09%
3 Years:950.95%
TTM:172.96%
Return on Equity
10 Years:%
5 Years:56.21%
3 Years:77.04%
Last Year:105.06%

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
43 43 40 40 40 40 40 40 40 39
Reserves 790 868 809 905 960 974 956 913 1,868 3,755
Borrowings 731 910 1,269 1,396 1,027 917 782 684 297 666
237 235 332 362 482 320 234 273 537 691
Total Liabilities 1,800 2,056 2,450 2,703 2,510 2,251 2,011 1,909 2,742 5,151
658 659 745 718 941 907 932 889 833 788
CWIP 58 79 128 215 119 108 27 1 2 19
Investments 169 196 156 152 174 223 227 231 248 942
916 1,123 1,421 1,619 1,277 1,014 825 789 1,659 3,402
Total Assets 1,800 2,056 2,450 2,703 2,510 2,251 2,011 1,909 2,742 5,151

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
304 38 27 115 773 276 249 157 594 1,465
-49 -143 -165 -145 -294 -83 -29 -1 -9 -653
-256 113 144 26 -482 -202 -219 -153 -588 -788
Net Cash Flow -2 7 6 -3 -3 -8 1 3 -3 24

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
ROCE % 11% 10% 11% 9% 6% 3% 1% 86% 139%
Debtor Days 144 131 126 135 133 121 134 153 129 66
Inventory Turnover 2.59 2.51 2.64 2.61 2.74 2.25 2.73 7.14 7.24