ISMT Ltd

ISMT Ltd

₹ 102 0.94%
22 Apr 11:58 a.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]

  • Market Cap 3,076 Cr.
  • Current Price 102
  • High / Low 112 / 68.2
  • Stock P/E 17.8
  • Book Value 52.2
  • Dividend Yield 0.48 %
  • ROCE 10.8 %
  • ROE 6.13 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 18.7% CAGR over last 5 years
  • Debtor days have improved from 57.3 to 43.6 days.

Cons

  • Working capital days have increased from -44.6 days to 73.3 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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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
384 459 479 567 534 581 623 709 598 650 657 749 642
371 517 454 540 520 587 588 649 540 587 577 626 538
Operating Profit 13 -58 25 27 14 -6 35 60 58 63 81 122 105
OPM % 3% -13% 5% 5% 3% -1% 6% 9% 10% 10% 12% 16% 16%
11 27 2 7 3 2,521 3 3 4 2 2 -12 8
Interest 66 66 68 66 70 -190 5 8 5 2 4 3 2
Depreciation 16 15 15 16 16 16 14 14 14 18 13 22 23
Profit before tax -58 -112 -56 -48 -69 2,689 19 42 43 45 67 85 87
Tax % -0% -0% -0% -0% -0% 5% -7% 27% 32% 81% 39% 39% 29%
-58 -112 -56 -48 -69 2,546 20 30 29 8 41 51 62
EPS in Rs -3.94 -7.66 -3.80 -3.25 -4.70 84.74 0.67 1.01 0.96 0.28 1.35 1.71 2.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
2,035 1,620 1,596 1,523 1,015 1,204 1,558 1,854 1,325 1,252 2,161 2,580 2,699
1,819 1,474 1,520 1,495 1,011 1,158 1,478 1,738 1,248 1,266 2,101 2,363 2,328
Operating Profit 216 147 75 28 4 45 80 116 78 -14 60 217 371
OPM % 11% 9% 5% 2% 0% 4% 5% 6% 6% -1% 3% 8% 14%
25 -46 -5 99 -32 10 15 -18 20 -2 2,533 12 -0
Interest 126 158 187 239 282 270 277 278 275 263 13 22 11
Depreciation 90 101 109 79 75 66 61 57 66 64 62 59 76
Profit before tax 25 -158 -226 -191 -385 -282 -244 -237 -242 -342 2,517 149 283
Tax % -0% 21% 14% 2% -2% -0% 0% -0% 1% -0% 6% 41%
25 -124 -194 -188 -395 -282 -243 -237 -240 -343 2,374 88 162
EPS in Rs 1.72 -8.47 -13.25 -12.84 -26.95 -19.23 -16.57 -16.18 -16.41 -23.38 79.01 2.92 5.40
Dividend Payout % 44% -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: 14%
5 Years: 19%
3 Years: 33%
TTM: -30%
Stock Price CAGR
10 Years: 23%
5 Years: 65%
3 Years: 118%
1 Year: 43%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 478 358 144 171 -191 -478 -719 -943 -1,188 -1,531 1,236 1,328 1,419
1,249 1,375 1,610 1,734 2,116 2,203 2,215 2,197 2,138 2,096 209 84 42
1,088 1,016 920 782 487 644 864 1,115 1,376 1,670 359 380 345
Total Liabilities 2,888 2,823 2,747 2,759 2,486 2,443 2,433 2,443 2,399 2,308 1,955 1,942 1,956
1,219 1,437 1,406 1,655 1,601 1,269 1,224 1,442 1,423 1,364 1,126 1,019 981
CWIP 357 99 91 97 94 17 2 91 94 42 4 19 42
Investments -0 0 0 0 -0 0 0 -0 -0 -0 -0 -0 -0
1,312 1,287 1,249 1,007 790 1,157 1,207 909 882 901 825 904 934
Total Assets 2,888 2,823 2,747 2,759 2,486 2,443 2,433 2,443 2,399 2,308 1,955 1,942 1,956

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
268 120 86 69 -245 -71 31 80 109 16 104 92
-185 -71 -23 1 4 -7 -1 1 -22 10 -0 35
-65 -83 -8 -82 200 -46 -13 -50 -101 -46 -84 -152
Net Cash Flow 18 -35 55 -12 -40 -124 17 30 -13 -20 20 -25

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 67 76 68 46 65 60 53 49 55 80 48 44
Inventory Days 187 259 236 192 232 215 152 129 211 181 129 126
Days Payable 216 309 283 216 149 91 48 38 59 67 63 55
Cash Conversion Cycle 37 26 21 22 149 184 158 141 207 193 114 115
Working Capital Days -25 -31 -56 -56 -50 -36 -134 -253 -461 -281 74 73
ROCE % 9% 4% -1% -2% -3% -1% 2% 5% 2% -3% 2% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 71,78470,57073,73073,25572,70572,87374,38681,73879,43380,30183,64986,359

* 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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