ISMT Ltd

₹ 102 -0.83%

24 Apr 4:11 p.m.

About

Incorporated in 1977, ISMT Ltd. is mainly engaged in manufacturing seamless tubes and engineering steels. ^[1]

Key Points

Product Offerings FY23
Steel (22%): The Co. produces carbon, alloy and martensitic stainless steel bars with a special emphasis on ultra-clean steels, free machining steels, bearing steels, and on other specially engineered steel grades. ^[1]
Tube (78%): It produces both Hot-finished as well as Cold-finished seamless tubes ranging in diameter from 6mm to 273mm used in a variety of applications such as the manufacture of auto-components, bearing races, OCTG products, drill rods, boilers, heat exchangers, etc. ^[2]

Website BSE NSE

Market Cap ₹ 3,060 Cr.
Current Price ₹ 102
High / Low ₹ 112 / 68.2
Stock P/E 21.0
Book Value ₹ 52.9
Dividend Yield 0.49 %
ROCE 11.2 %
ROE 6.64 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 19.1% CAGR over last 5 years
Debtor days have improved from 60.8 to 46.7 days.

Cons

Working capital days have increased from -43.2 days to 76.0 days

* 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.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Detailed Comparison with:

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
	385	454	477	564	534	577	617	709	592	644	653	748	639
	370	463	451	543	515	584	579	646	530	585	570	625	551
Operating Profit	15	-9	26	22	19	-6	38	63	62	59	83	123	88
OPM %	4%	-2%	6%	4%	4%	-1%	6%	9%	11%	9%	13%	16%	14%
	8	-31	2	6	1	2,503	3	3	4	4	3	-32	6
Interest	66	65	68	66	70	-190	5	9	5	3	3	3	2
Depreciation	16	15	15	15	15	15	13	13	13	16	12	22	23
Profit before tax	-58	-120	-54	-53	-64	2,671	22	44	48	43	70	66	69
Tax %	0%	-0%	0%	0%	0%	5%	-6%	26%	29%	85%	37%	50%	36%
	-58	-120	-54	-53	-64	2,528	23	33	34	6	44	33	44
EPS in Rs	-3.98	-8.19	-3.69	-3.60	-4.39	84.14	0.77	1.09	1.14	0.21	1.46	1.10	1.47
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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
	1,944	1,592	1,561	1,504	992	1,162	1,490	1,825	1,304	1,235	2,153	2,561	2,683
	1,735	1,433	1,474	1,470	980	1,119	1,414	1,712	1,225	1,253	2,092	2,340	2,330
Operating Profit	210	159	87	35	12	43	76	113	79	-18	60	221	353
OPM %	11%	10%	6%	2%	1%	4%	5%	6%	6%	-1%	3%	9%	13%
	24	-51	-6	54	-33	10	17	-11	16	-9	2,512	13	-19
Interest	121	153	184	235	280	269	275	276	274	262	13	21	11
Depreciation	84	96	102	74	72	63	59	54	63	61	60	55	73
Profit before tax	29	-141	-205	-221	-373	-280	-241	-229	-242	-351	2,500	157	249
Tax %	0%	29%	17%	0%	-3%	0%	0%	0%	1%	-0%	6%	39%
	29	-100	-170	-221	-382	-280	-240	-229	-240	-351	2,357	97	128
EPS in Rs	1.95	-6.81	-11.62	-15.08	-26.09	-19.09	-16.38	-15.62	-16.41	-23.94	78.45	3.21	4.24
Dividend Payout %	38%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	11%
3 Years:	25%
TTM:	8%

Compounded Profit Growth
10 Years:	19%
5 Years:	19%
3 Years:	34%
TTM:	-44%

Stock Price CAGR
10 Years:	23%
5 Years:	66%
3 Years:	118%
1 Year:	43%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	7%

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	73	73	73	73	73	73	73	73	73	73	150	150	150
Reserves	509	417	231	205	-137	-423	-663	-892	-1,135	-1,486	1,266	1,365	1,440
	1,183	1,285	1,512	1,651	2,065	2,182	2,192	2,185	2,129	2,091	205	82	41
	1,079	1,040	929	771	478	613	841	1,105	1,364	1,661	352	376	343
Total Liabilities	2,844	2,814	2,745	2,701	2,479	2,445	2,444	2,470	2,431	2,339	1,974	1,973	1,975
	1,134	1,356	1,315	1,570	1,519	1,207	1,165	1,360	1,342	1,283	1,080	982	959
CWIP	293	32	25	8	5	17	2	3	6	12	4	19	42
Investments	50	53	53	53	53	191	193	200	200	142	64	57	24
	1,368	1,374	1,352	1,071	902	1,030	1,084	908	883	902	826	915	950
Total Assets	2,844	2,814	2,745	2,701	2,479	2,445	2,444	2,470	2,431	2,339	1,974	1,973	1,975

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
	189	131	79	68	-275	-92	32	42	118	36	100	94
	-106	-59	-45	1	1	-8	-0	-6	-24	9	-1	34
	-68	-102	3	-65	234	-27	-15	-40	-97	-43	-81	-151
Net Cash Flow	16	-29	38	5	-40	-128	17	-3	-2	2	17	-22

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	77	92	87	43	69	61	55	59	67	84	51	47
Inventory Days	187	246	231	185	228	220	155	127	208	180	125	125
Days Payable	225	311	289	216	150	88	47	37	58	67	63	55
Cash Conversion Cycle	39	26	29	12	147	193	163	149	216	198	114	116
Working Capital Days	-6	-8	-50	-59	-51	-68	-165	-248	-457	-282	77	76
ROCE %	9%	5%	0%	-1%	-2%	-1%	2%	4%	2%	-3%	2%	11%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	48.61%	48.61%	48.61%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%
	1.42%	1.04%	0.36%	0.19%	0.18%	0.08%	0.00%	0.03%	0.02%	0.10%	0.07%	0.09%
	0.04%	0.04%	0.04%	0.02%	0.01%	0.02%	0.02%	0.11%	0.28%	0.31%	0.31%	0.31%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%
	49.93%	50.31%	50.99%	24.84%	24.86%	24.96%	25.03%	24.90%	24.76%	24.64%	24.67%	24.66%
No. of Shareholders	71,784	70,570	73,730	73,255	72,705	72,873	74,386	81,738	79,433	80,301	83,649	86,359

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	51.59%	51.59%	51.55%	51.71%	51.71%	74.95%	74.95%	74.95%
	1.19%	0.00%	0.00%	0.00%	0.72%	0.19%	0.03%	0.09%
	1.41%	1.40%	1.39%	1.39%	1.39%	0.02%	0.11%	0.31%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	45.81%	47.01%	47.06%	46.90%	46.18%	24.84%	24.90%	24.66%
No. of Shareholders	1,25,413	95,354	85,457	73,717	72,078	73,255	81,738	86,359

* 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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ISMT Ltd

ISMT Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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