HLE Glascoat Ltd

About

HLE Glascoat Ltd is in the business of manufacturing and sales of glass lined equipment and filters and dryers equipment for various industries in the country.[1]

Key Points

Filtration and Drying Division (57% of revenues)[1]
The company manufactures filtration and drying equipment for various industries. It has expertise in stainless steel and exotic fabric alloy fabrication. It is a market leader with 60% market share.[2]

See full details
  • Market Cap 8,589 Cr.
  • Current Price 6,381
  • High / Low 6,750 / 1,287
  • Stock P/E 142
  • Book Value 127
  • Dividend Yield 0.06 %
  • ROCE 40.9 %
  • ROE 41.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 66.83% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 42.80%

Cons

  • Stock is trading at 50.18 times its book value
  • Promoter holding has decreased over last quarter: -2.11%
  • Debtor days have increased from 43.34 to 55.22 days.
Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
27 74 121 84 105 99 99 70 109 115 127 112
25 67 102 70 90 82 82 58 91 90 105 91
Operating Profit 3 6 19 14 16 18 17 12 18 25 22 22
OPM % 10% 9% 15% 16% 15% 18% 17% 17% 17% 22% 18% 19%
Other Income 0 2 2 1 1 2 3 2 2 3 5 2
Interest 0 3 4 3 3 3 3 3 3 2 2 2
Depreciation 1 2 1 2 2 2 2 2 2 2 2 2
Profit before tax 2 4 16 10 13 15 15 9 16 24 23 20
Tax % 20% 28% 20% 26% 28% 28% 30% 30% 28% 29% 22% 28%
Net Profit 1 3 12 7 9 11 11 6 11 17 18 14
EPS in Rs 2.22 4.42 19.14 11.51 14.02 8.38 8.33 4.80 8.77 12.94 13.67 10.55

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
45 53 70 76 77 88 92 81 97 337 387 421 463
39 45 62 66 67 78 81 72 86 296 323 340 376
Operating Profit 6 8 9 10 10 11 11 10 10 41 64 80 87
OPM % 14% 15% 12% 13% 13% 12% 12% 12% 11% 12% 17% 19% 19%
Other Income 0 0 1 0 0 0 1 0 1 5 9 10 12
Interest 2 3 3 3 3 3 3 3 2 14 13 10 9
Depreciation 1 2 2 2 2 2 2 3 3 6 7 8 8
Profit before tax 4 4 5 5 6 6 6 5 7 25 53 71 82
Tax % 33% 30% 39% 32% 34% 20% 34% 34% 20% 29% 28% 27%
Net Profit 2 3 3 4 4 5 4 3 5 18 38 52 60
EPS in Rs 4.80 5.42 5.62 7.22 7.60 9.08 8.30 4.80 8.25 27.86 29.53 40.04 45.93
Dividend Payout % 35% 37% 39% 30% 33% 30% 27% 42% 24% 0% 15% 10%
Compounded Sales Growth
10 Years:23%
5 Years:35%
3 Years:63%
TTM:24%
Compounded Profit Growth
10 Years:35%
5 Years:67%
3 Years:115%
TTM:63%
Stock Price CAGR
10 Years:69%
5 Years:127%
3 Years:237%
1 Year:361%
Return on Equity
10 Years:31%
5 Years:35%
3 Years:43%
Last Year:41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
5 5 5 5 5 5 5 6 6 34 36 31
Reserves 10 11 13 15 18 19 21 41 45 24 52 140
Borrowings 15 20 19 21 14 19 19 12 6 85 76 74
18 31 32 28 36 41 34 35 40 167 181 160
Total Liabilities 48 67 69 69 73 84 80 94 97 283 322 387
19 19 22 22 22 20 23 26 25 80 88 114
CWIP 0 2 0 0 0 2 1 0 2 4 10 3
Investments 0 0 0 0 0 0 0 0 1 8 9 34
29 47 47 47 51 61 56 67 70 190 215 236
Total Assets 48 67 69 69 73 84 80 94 97 283 322 387

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
10 1 8 4 12 5 8 6 10 45 39 34
-6 -3 -4 -2 -2 -5 -3 -16 1 -20 -15 -45
-4 1 -5 -3 -10 0 -6 12 -10 -20 -29 21
Net Cash Flow -0 -0 0 -0 -0 0 -0 1 0 5 -5 9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 29 33 18 21 26 18 15 22 23 34 41 55
Inventory Days 363 583 428 368 401 440 369 429 400 244 272 252
Days Payable 170 239 150 119 158 150 136 137 167 121 130 113
Cash Conversion Cycle 222 377 296 269 269 308 248 314 255 157 182 194
Working Capital Days 90 124 86 97 85 89 90 116 86 50 56 73
ROCE % 18% 20% 21% 22% 22% 23% 22% 14% 15% 40% 43% 41%

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
50.25 50.25 50.25 50.25 50.25 74.25 74.25 74.25 74.25 73.43 73.43 71.32
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.10 1.10 3.08
0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.85
49.75 49.75 49.75 49.75 49.75 25.75 25.75 25.75 25.75 25.47 25.47 24.74

Documents