Hitech Corporation Ltd

About

Hitech Corporation Limited is engaged in manufacturing of packaging products of plastics. The Company operates through Plastic Containers segment.

  • Market Cap 146 Cr.
  • Current Price 85.0
  • High / Low 126 / 40.0
  • Stock P/E
  • Book Value 109
  • Dividend Yield 0.00 %
  • ROCE 8.69 %
  • ROE 1.99 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.78 times its book value
  • Debtor days have improved from 49.76 to 34.28 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of -0.20% over past five years.
  • Company has a low return on equity of 3.66% for last 3 years.
  • Contingent liabilities of Rs.61.63 Cr.

Peer comparison

Sector: Packaging Industry: Packaging

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
103.98 90.96 101.05 110.24 121.87 126.34 103.45 121.45 122.04 107.46 109.14 57.37
93.27 82.66 91.53 98.92 107.69 111.80 92.07 105.80 106.95 91.92 95.68 52.35
Operating Profit 10.71 8.30 9.52 11.32 14.18 14.54 11.38 15.65 15.09 15.54 13.46 5.02
OPM % 10.30% 9.12% 9.42% 10.27% 11.64% 11.51% 11.00% 12.89% 12.36% 14.46% 12.33% 8.75%
Other Income 0.12 0.25 5.84 0.17 0.09 15.16 0.08 0.13 0.21 -3.19 0.22 0.15
Interest 3.67 3.52 3.55 4.03 4.75 5.53 5.60 5.88 6.38 5.96 5.34 4.63
Depreciation 4.53 4.44 4.39 4.40 4.67 6.12 6.23 6.71 7.57 7.88 7.81 6.89
Profit before tax 2.63 0.59 7.42 3.06 4.85 18.05 -0.37 3.19 1.35 -1.49 0.53 -6.35
Tax % 39.16% 37.29% 31.40% 38.89% 32.16% 35.57% 0.00% 38.24% 30.37% 42.95% 43.40% 0.00%
Net Profit 1.60 0.38 5.09 1.86 3.30 11.62 -0.37 1.97 0.95 -0.85 0.29 -6.35
EPS in Rs 0.93 0.22 2.96 1.08 1.92 6.77 -0.22 1.15 0.55 -0.49 0.17 -3.70
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
134 159 204 231 256 271 465 393 367 388 462 460 396
114 132 174 199 227 242 425 347 332 351 410 400 347
Operating Profit 20 27 30 33 29 29 40 46 35 37 52 60 49
OPM % 15% 17% 15% 14% 11% 11% 9% 12% 10% 10% 11% 13% 12%
Other Income 2 1 1 1 0 0 1 1 1 6 15 -3 -3
Interest 7 5 9 12 13 14 16 10 9 14 20 24 22
Depreciation 3 3 6 7 8 10 16 16 13 18 21 30 30
Profit before tax 12 20 16 15 8 6 9 20 14 12 26 4 -6
Tax % 26% 31% 27% 25% 18% 33% 25% 30% 31% 35% 36% 34%
Net Profit 9 14 12 11 7 4 7 14 9 8 16 2 -6
EPS in Rs 7.03 10.44 9.00 8.33 5.33 2.84 4.47 8.22 5.45 4.52 9.55 1.37 -3.47
Dividend Payout % 16% 14% 18% 19% 30% 32% 20% 11% 17% 20% 9% 0%
Compounded Sales Growth
10 Years:11%
5 Years:-0%
3 Years:8%
TTM:-16%
Compounded Profit Growth
10 Years:-12%
5 Years:-11%
3 Years:-26%
TTM:-119%
Stock Price CAGR
10 Years:-3%
5 Years:-2%
3 Years:-21%
1 Year:1%
Return on Equity
10 Years:7%
5 Years:5%
3 Years:4%
Last Year:2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
13 13 13 13 13 13 15 48 17 43 40 40
Reserves 35 46 56 64 69 71 97 118 127 133 147 148
Borrowings 19 40 62 70 68 71 69 37 108 139 162 163
12 15 18 17 20 21 68 61 51 65 77 58
Total Liabilities 78 115 149 164 170 177 249 234 303 355 404 386
23 32 56 57 83 78 121 97 139 156 235 276
CWIP 0 14 2 5 0 1 2 2 8 44 39 2
Investments 19 28 34 34 34 34 0 0 0 0 0 0
36 40 58 68 53 63 126 135 156 155 130 109
Total Assets 78 115 149 164 170 177 249 234 303 355 404 386

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
22 21 12 27 37 17 39 41 37 43 86 56
-5 -35 -24 -15 -24 -6 -4 -7 -63 -80 -84 -25
-16 15 10 -7 -17 -13 -33 -35 27 41 -6 -31
Net Cash Flow 1 1 -1 4 -5 -1 2 -1 1 3 -5 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 % 29% 30% 22% 19% 14% 13% 15% 16% 10% 9% 9% 9%
Debtor Days 42 43 48 46 36 45 58 57 87 71 44 34
Inventory Turnover 9.65 8.79 7.73 7.56 11.21 12.59 15.67 9.19 7.95 7.41 8.10 8.14

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43 74.43
0.05 0.03 0.03 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00
0.51 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
25.00 25.52 25.52 25.54 25.54 25.54 25.54 25.54 25.55 25.55 25.55 25.55

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