HLE Glascoat Ltd

HLE Glascoat Ltd

₹ 457 0.98%
24 Apr 3:17 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 3,118 Cr.
  • Current Price 457
  • High / Low 699 / 405
  • Stock P/E 66.2
  • Book Value 50.4
  • Dividend Yield 0.23 %
  • ROCE 23.5 %
  • ROE 24.1 %
  • Face Value 2.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 32.7%

Cons

  • Stock is trading at 9.05 times its book value
  • Debtor days have increased from 76.7 to 95.1 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

Consolidated Figures in Rs. Crores / View Standalone

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
131.73 147.50 124.24 124.02 154.74 249.23 204.42 214.53 214.23 298.34 197.19 224.42 239.30
102.79 120.94 100.46 101.67 128.93 211.43 176.41 179.49 188.42 253.98 174.00 197.96 214.62
Operating Profit 28.94 26.56 23.78 22.35 25.81 37.80 28.01 35.04 25.81 44.36 23.19 26.46 24.68
OPM % 21.97% 18.01% 19.14% 18.02% 16.68% 15.17% 13.70% 16.33% 12.05% 14.87% 11.76% 11.79% 10.31%
0.77 2.25 1.10 1.02 -4.30 1.10 3.50 2.94 2.47 2.94 0.68 1.52 0.59
Interest 2.29 2.00 2.24 2.28 3.74 4.85 3.86 4.91 5.32 8.95 4.78 5.77 9.70
Depreciation 2.19 2.20 2.17 2.25 2.57 4.23 5.83 5.47 5.61 5.79 5.96 6.07 7.33
Profit before tax 25.23 24.61 20.47 18.84 15.20 29.82 21.82 27.60 17.35 32.56 13.13 16.14 8.24
Tax % 31.99% 27.14% 30.68% 30.84% 48.95% 21.76% 29.51% 29.82% 29.22% 30.01% 29.17% 33.02% 27.43%
17.15 17.93 14.19 13.02 7.76 23.33 15.37 19.37 12.28 22.79 9.29 10.82 5.97
EPS in Rs 2.57 2.74 2.11 1.90 1.13 3.41 2.25 2.84 1.80 3.34 1.36 1.47 0.44
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
359 426 484 652 932 959
313 354 392 541 793 841
Operating Profit 47 73 93 111 139 119
OPM % 13% 17% 19% 17% 15% 12%
2 5 4 -1 8 6
Interest 15 13 11 14 25 29
Depreciation 7 7 9 11 23 25
Profit before tax 28 57 77 84 99 70
Tax % 33% 31% 31% 31% 30%
19 39 53 58 70 49
EPS in Rs 5.50 5.91 8.00 8.52 10.23 6.61
Dividend Payout % 0% 15% 10% 12% 11%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 30%
TTM: 9%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 22%
TTM: -34%
Stock Price CAGR
10 Years: 50%
5 Years: 64%
3 Years: 0%
1 Year: -26%
Return on Equity
10 Years: %
5 Years: %
3 Years: 33%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6 13 13 14 14 14
Reserves 35 63 100 239 312 331
Preference Capital 27 23 19 14 7
87 77 77 204 250 365
165 182 187 303 315 486
Total Liabilities 294 335 377 759 891 1,195
85 94 120 245 318 516
CWIP 4 10 3 31 3 9
Investments 0 0 0 0 0 0
205 231 254 483 570 670
Total Assets 294 335 377 759 891 1,195

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
49 45 48 1 5
-15 -19 -29 -146 -40
-29 -30 -10 160 13
Net Cash Flow 5 -5 9 14 -22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 34 38 52 83 95
Inventory Days 244 264 228 307 227
Days Payable 119 130 111 150 97
Cash Conversion Cycle 159 172 168 240 225
Working Capital Days 45 42 62 104 116
ROCE % 42% 45% 31% 24%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
71.32% 71.32% 70.32% 70.32% 70.32% 70.32% 70.32% 70.32% 70.32% 66.69% 66.69% 66.69%
3.08% 3.67% 5.03% 5.02% 4.73% 4.32% 4.30% 4.31% 4.30% 4.25% 4.24% 4.29%
0.85% 0.86% 0.85% 0.85% 0.87% 0.74% 0.71% 0.71% 0.53% 3.93% 3.95% 3.77%
24.74% 24.14% 23.80% 23.81% 24.09% 24.61% 24.66% 24.65% 24.85% 25.13% 25.12% 25.25%
No. of Shareholders 19,95925,94233,87533,63742,12048,86958,27461,58565,16175,76279,75181,753

* 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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