Kamdhenu Ltd

Kamdhenu Ltd

₹ 520 -0.35%
19 Apr - close price
About

Incorporated in 1994, Kamdhenu Ltd. is engaged in the manufacturing, marketing, branding and distribution of TMT Bars, structural steel, paints and allied products under the brand name “KAMDHENU”. [1]

Key Points

Products
Company offers various products under steel and Paints like TMT Bars, Structural Steel, Colour Coated Sheets, Pre Engineered buildings and Paints (Kamdhenu Paints-Colour Dreamz).[1] In FY23, Kamdhenu is the largest TMT selling brand in India, in the
Retail Segment.
The company specialises in 4% less weight per meter with 20% higher strength.[2]

  • Market Cap 1,400 Cr.
  • Current Price 520
  • High / Low 670 / 260
  • Stock P/E 31.7
  • Book Value 68.8
  • Dividend Yield 0.29 %
  • ROCE 23.2 %
  • ROE 20.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 92.8 to 40.9 days.
  • Company's working capital requirements have reduced from 92.6 days to 46.5 days

Cons

  • Stock is trading at 7.56 times its book value
  • The company has delivered a poor sales growth of -9.10% over past five years.
  • Promoter holding has decreased over last 3 years: -5.55%

* 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

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
183 222 113 153 149 185 191 191 183 167 209 185 155
170 202 104 142 138 166 176 179 166 152 193 172 141
Operating Profit 14 20 9 11 11 19 15 12 17 15 16 13 14
OPM % 7% 9% 8% 7% 7% 10% 8% 6% 9% 9% 8% 7% 9%
1 -10 1 2 2 -8 0 0 1 1 2 2 2
Interest 3 3 1 1 1 1 1 0 0 0 0 0 0
Depreciation 2 2 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 10 6 8 11 10 8 14 11 16 14 16 14 15
Tax % 25% 29% 27% 25% 24% 34% 26% 24% 25% 25% 26% 25% 26%
7 4 6 8 8 5 10 8 12 11 12 10 11
EPS in Rs 2.67 1.46 2.07 2.97 2.86 2.03 3.73 3.06 4.47 4.00 4.48 3.78 4.14
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
482 548 922 968 841 825 1,180 1,232 924 625 600 732 716
462 526 896 938 809 792 1,136 1,179 879 575 545 672 657
Operating Profit 19 22 26 30 32 33 44 54 45 50 55 60 58
OPM % 4% 4% 3% 3% 4% 4% 4% 4% 5% 8% 9% 8% 8%
1 1 -0 0 0 1 1 0 -25 -7 -10 2 7
Interest 10 11 12 13 15 14 13 12 12 14 4 2 1
Depreciation 4 4 5 5 5 8 8 7 8 9 5 5 5
Profit before tax 5 7 9 12 12 12 24 35 -0 21 37 55 59
Tax % 27% 27% 36% 33% 34% 31% 36% 36% 518% 28% 27% 25%
4 5 6 8 8 8 16 22 2 15 27 41 44
EPS in Rs 1.96 2.06 2.54 3.43 3.48 3.46 6.70 8.51 0.71 5.61 9.94 15.25 16.40
Dividend Payout % 26% -0% -0% 20% 20% 23% 15% 12% 71% 14% 10% 10%
Compounded Sales Growth
10 Years: 3%
5 Years: -9%
3 Years: -7%
TTM: -5%
Compounded Profit Growth
10 Years: 23%
5 Years: 21%
3 Years: 17%
TTM: 0%
Stock Price CAGR
10 Years: 46%
5 Years: 42%
3 Years: 92%
1 Year: 49%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 15%
Last Year: 21%

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 21 23 23 23 23 23 23 26 27 27 27 27 27
Reserves 58 65 71 76 82 92 105 155 154 168 197 140 158
73 77 87 99 108 106 88 88 127 100 94 4 4
79 102 88 85 83 122 159 146 157 136 142 38 50
Total Liabilities 231 268 269 283 296 344 375 415 464 431 460 208 239
47 48 49 48 47 80 74 90 86 91 94 47 48
CWIP 1 2 0 0 -0 -0 -0 1 1 1 1 -0 -0
Investments 2 2 4 3 3 3 3 3 6 9 16 14 36
181 216 215 232 246 261 298 322 371 331 349 147 155
Total Assets 231 268 269 283 296 344 375 415 464 431 460 208 239

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
9 16 8 5 12 18 21 25 -3 50 43 67
-4 -6 -6 -3 -4 -2 -2 -26 -19 -10 -13 -14
-5 -5 -2 -1 -8 -17 -18 2 15 -41 -20 -55
Net Cash Flow -0 5 -0 1 0 -1 -0 1 -7 -0 10 -2

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 75 80 51 51 62 71 58 66 84 117 121 41
Inventory Days 40 45 25 30 40 36 26 22 40 59 63 10
Days Payable 49 66 27 26 31 50 41 42 63 87 74 13
Cash Conversion Cycle 66 58 49 54 71 57 43 46 61 89 110 38
Working Capital Days 74 81 50 55 69 64 49 53 84 113 118 47
ROCE % 11% 11% 12% 13% 13% 12% 17% 19% 13% 15% 17% 23%

Shareholding Pattern

Numbers in percentages

9 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
64.29% 64.29% 64.29% 64.29% 64.29% 58.74% 58.74% 58.74% 58.74% 58.74% 58.74% 58.74%
0.01% 0.24% 0.33% 0.22% 0.20% 0.19% 0.34% 0.34% 0.44% 0.58% 0.58% 4.00%
0.78% 0.40% 0.35% 0.32% 0.33% 1.60% 0.29% 0.26% 0.22% 0.39% 0.19% 0.19%
34.92% 35.08% 35.03% 35.17% 35.18% 39.48% 40.64% 40.65% 40.61% 40.30% 40.51% 37.09%
No. of Shareholders 15,57014,74114,31915,24615,66418,92615,51014,95215,31017,04116,99617,169

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls