JSW Ispat Special Products Ltd

About

Monnet Ispat & Energy is engaged in the business of Steel.

  • Market Cap 1,524 Cr.
  • Current Price 32.4
  • High / Low 67.6 / 16.2
  • Stock P/E 3.56
  • Book Value 29.7
  • Dividend Yield 0.00 %
  • ROCE 4.34 %
  • ROE 16.4 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.09 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -21.19%
  • Promoters have pledged 34.07% of their holding.
  • Earnings include an other income of Rs.333.66 Cr.

Peer comparison

Sector: Steel Industry: Steel - Sponge Iron

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
420 494 533 777 660 583 617 595 955 1,161 1,477 1,462
416 473 576 803 662 608 612 630 894 1,009 1,271 1,284
Operating Profit 4 20 -43 -26 -1 -25 5 -35 62 152 206 179
OPM % 1% 4% -8% -3% -0% -4% 1% -6% 6% 13% 14% 12%
Other Income -2,836 6 -10 6 4 4 13 3 308 3 17 7
Interest 16 49 45 62 62 63 65 66 69 68 72 66
Depreciation 82 56 52 54 54 54 57 56 59 57 57 55
Profit before tax -2,930 -78 -150 -136 -114 -138 -104 -154 241 29 93 63
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit -2,930 -78 -150 -136 -114 -138 -104 -154 242 29 93 63
EPS in Rs -62.39 -1.66 -3.19 -2.90 -2.42 -2.93 -2.23 -3.28 5.15 0.63 1.99 1.35

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,532 1,626 1,989 2,062 2,302 3,242 1,843 1,238 1,383 1,879 2,638 4,188 5,055
1,081 1,178 1,492 1,576 1,909 3,146 2,295 1,639 1,342 1,878 2,683 3,799 4,458
Operating Profit 451 448 497 486 393 96 -452 -401 41 2 -44 388 598
OPM % 29% 28% 25% 24% 17% 3% -25% -32% 3% 0% -2% 9% 12%
Other Income 47 27 44 65 74 -189 -19 -226 -250 -2,829 26 326 334
Interest 97 37 103 135 253 683 1,083 1,141 1,195 448 255 276 276
Depreciation 77 79 81 100 144 288 364 360 355 278 219 228 228
Profit before tax 324 359 357 315 70 -1,063 -1,918 -2,127 -1,759 -3,552 -492 210 427
Tax % 19% 23% 26% 29% 47% 18% 0% -0% 0% 0% 0% 0%
Net Profit 262 277 261 222 37 -857 -1,907 -2,130 -1,758 -3,552 -492 211 428
EPS in Rs 50.12 42.98 40.60 34.86 5.63 -130.18 -94.99 -106.07 -87.58 -75.65 -10.48 4.48 9.12
Dividend Payout % 10% 12% 6% 3% 18% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:10%
5 Years:18%
3 Years:45%
TTM:106%
Compounded Profit Growth
10 Years:-3%
5 Years:16%
3 Years:29%
TTM:184%
Stock Price CAGR
10 Years:-24%
5 Years:7%
3 Years:-2%
1 Year:79%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
54 64 69 249 241 241 201 201 349 996 996 996
Reserves 1,587 2,076 2,358 2,571 2,711 1,826 213 -1,802 -3,478 698 177 398
Borrowings 1,723 3,100 5,754 8,606 10,737 12,500 11,928 12,262 8,653 2,475 2,951 2,570
450 598 692 1,532 1,934 2,095 2,758 3,113 2,934 1,115 1,203 1,561
Total Liabilities 3,812 5,839 8,869 12,773 15,448 16,486 15,099 13,773 8,309 4,759 4,801 4,998
1,261 1,336 1,699 1,704 4,918 7,521 6,909 6,581 6,194 3,378 3,254 3,168
CWIP 1,233 1,481 3,648 7,189 6,794 5,683 5,761 5,587 168 182 238 175
Investments 185 135 109 272 101 94 324 46 572 1 1 1
1,134 2,886 3,413 3,608 3,635 3,188 2,105 1,559 1,374 1,197 1,309 1,653
Total Assets 3,812 5,839 8,869 12,773 15,448 16,486 15,099 13,773 8,309 4,759 4,801 4,998

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
472 55 459 809 59 1,659 1,117 292 -16 -194 -196 406
-978 -1,246 -2,545 -3,796 -2,749 -1,747 -121 489 -18 612 -118 -81
477 1,717 2,217 2,866 2,002 221 -1,113 -799 47 -344 185 -348
Net Cash Flow -29 526 131 -121 -688 134 -117 -19 13 74 -130 -22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 35 55 55 73 66 50 23 29 16 6 7 16
Inventory Days 115 153 189 251 276 163 139 136 109 182
Days Payable 63 52 29 28 62 67 68 54 37 66
Cash Conversion Cycle 87 156 215 295 280 146 94 111 88 123 7 16
Working Capital Days 146 171 228 128 140 34 -25 -465 -403 72 61 38
ROCE % 13% 9% 7% 5% 3% -1% -6% -6% -4% -5% -6% 4%

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
74.37 74.35 74.35 74.35 74.35 74.35 74.35 74.35 74.35 74.35 74.35 53.17
0.55 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.00 0.00 0.00 2.52
20.04 20.04 19.81 19.62 19.46 18.70 18.06 17.78 16.85 14.89 13.40 8.84
5.03 5.29 5.52 5.71 5.87 6.63 7.27 7.55 8.79 10.76 12.25 35.47

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