HLE Glascoat Ltd

HLE Glascoat Ltd

₹ 495 -0.01%
01 Mar 1:58 p.m.
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 (35% 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 greater than 50% market share.[2]

  • Market Cap 3,379 Cr.
  • Current Price 495
  • High / Low 699 / 465
  • Stock P/E 67.5
  • Book Value 50.2
  • Dividend Yield 0.22 %
  • ROCE 17.9 %
  • ROE 17.8 %
  • Face Value 2.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.0%
  • Company's median sales growth is 15.0% of last 10 years

Cons

  • Stock is trading at 9.96 times its book value
  • Debtor days have increased from 70.3 to 96.6 days.
  • Promoter holding has decreased over last 3 years: -6.74%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
115.08 126.81 112.34 110.01 128.55 157.59 140.86 147.01 150.49 211.10 126.49 156.79 141.82
90.03 104.55 90.65 90.76 106.12 133.44 119.64 127.14 132.15 179.66 108.83 140.85 129.72
Operating Profit 25.05 22.26 21.69 19.25 22.43 24.15 21.22 19.87 18.34 31.44 17.66 15.94 12.10
OPM % 21.77% 17.55% 19.31% 17.50% 17.45% 15.32% 15.06% 13.52% 12.19% 14.89% 13.96% 10.17% 8.53%
3.10 4.95 2.36 2.92 5.72 2.86 2.73 2.59 1.10 9.04 0.62 1.37 8.21
Interest 2.19 2.07 2.11 2.17 2.81 4.23 3.41 4.55 4.97 8.61 4.37 5.33 8.29
Depreciation 2.13 2.14 2.10 2.19 2.29 2.51 2.88 3.18 3.24 3.28 3.37 3.52 3.57
Profit before tax 23.83 23.00 19.84 17.81 23.05 20.27 17.66 14.73 11.23 28.59 10.54 8.46 8.45
Tax % 29.00% 22.30% 28.43% 26.50% 26.98% 13.02% 26.27% 26.00% 27.52% 21.79% 26.85% 27.66% -11.72%
16.92 17.87 14.20 13.10 16.84 17.63 13.02 10.90 8.14 22.37 7.71 6.13 9.43
EPS in Rs 2.59 2.73 2.11 1.92 2.47 2.58 1.91 1.60 1.19 3.28 1.13 0.90 1.38
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
70 76 77 88 92 81 97 337 387 421 508 649 636
62 66 67 78 81 72 86 296 323 340 419 553 559
Operating Profit 9 10 10 11 11 10 10 41 64 80 90 96 77
OPM % 12% 13% 13% 12% 12% 12% 11% 12% 17% 19% 18% 15% 12%
1 0 0 0 1 0 1 5 9 10 13 12 19
Interest 3 3 3 3 3 3 2 14 13 10 13 23 27
Depreciation 2 2 2 2 2 3 3 6 7 8 9 13 14
Profit before tax 5 5 6 6 6 5 7 25 53 71 81 72 56
Tax % 39% 32% 34% 20% 34% 34% 20% 29% 28% 27% 24% 25%
3 4 4 5 4 3 5 18 38 52 62 54 46
EPS in Rs 1.12 1.44 1.52 1.82 1.66 0.96 1.65 5.57 5.90 8.00 9.04 7.97 6.69
Dividend Payout % 39% 30% 33% 30% 27% 42% 24% 0% 15% 10% 11% 14%
Compounded Sales Growth
10 Years: 24%
5 Years: 46%
3 Years: 19%
TTM: 7%
Compounded Profit Growth
10 Years: 31%
5 Years: 59%
3 Years: 12%
TTM: 1%
Stock Price CAGR
10 Years: 53%
5 Years: 69%
3 Years: 4%
1 Year: -5%
Return on Equity
10 Years: 28%
5 Years: 31%
3 Years: 27%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 5 5 5 5 5 6 6 6 13 13 14 14 14
Reserves 13 15 18 19 21 41 45 35 63 130 267 315 329
Preference Capital 0 0 0 0 0 0 0 27 23 19 14 7
19 21 14 19 19 12 6 85 76 75 193 238 321
32 28 36 41 34 35 40 156 170 169 184 212 232
Total Liabilities 69 69 73 84 80 94 97 283 322 387 657 778 896
22 22 22 20 23 26 25 80 88 114 151 227 230
CWIP 0 0 0 2 1 0 2 4 10 3 31 2 8
Investments 0 0 0 0 0 0 1 8 9 34 157 146 227
47 47 51 61 56 67 70 190 215 236 318 402 430
Total Assets 69 69 73 84 80 94 97 283 322 387 657 778 896

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
8 4 12 5 8 6 10 45 39 34 19 13
-4 -2 -2 -5 -3 -16 1 -20 -15 -45 -184 -19
-5 -3 -10 0 -6 12 -10 -20 -29 21 154 6
Net Cash Flow 0 -0 -0 0 -0 1 0 5 -5 9 -10 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 18 21 26 18 15 22 23 34 41 55 59 97
Inventory Days 428 368 401 440 369 429 400 244 272 252 276 188
Days Payable 150 119 158 150 136 137 167 121 130 113 148 96
Cash Conversion Cycle 296 269 269 308 248 314 255 157 182 194 188 188
Working Capital Days 75 93 80 85 85 112 82 41 40 74 100 118
ROCE % 21% 22% 22% 23% 22% 14% 15% 38% 40% 41% 26% 18%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.43% 71.32% 71.32% 70.32% 70.32% 70.32% 70.32% 70.32% 70.32% 70.32% 66.69% 66.69%
1.10% 3.08% 3.67% 5.03% 5.02% 4.73% 4.32% 4.30% 4.31% 4.30% 4.25% 4.24%
0.00% 0.85% 0.86% 0.85% 0.85% 0.87% 0.74% 0.71% 0.71% 0.53% 3.93% 3.95%
25.47% 24.74% 24.14% 23.80% 23.81% 24.09% 24.61% 24.66% 24.65% 24.85% 25.13% 25.12%
No. of Shareholders 15,98419,95925,94233,87533,63742,12048,86958,27461,58565,16175,76279,751

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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