K C P Ltd

₹ 182 1.62%

26 Apr - close price

About

KCP Ltd is engaged in the business of manufacture and sale of cement, sugar, heavy engineering, power generation for captive use and hospitality.^[1]

Key Points

Cement Business (71% of revenues) ^[1]
The company owns and operates 2 cement plants in Macherla & Muktyala in Andhra Pradesh. The plants possess a combined capacity of 4.3 million TPA of premium grade cement in India.
Product portfolio includes Ordinary Portland cement, Pozzolana Portland Cement, Rapid hardening portland cement, and others. ^[2]

The company completed expansion of its flagship plant in Muktyala in 2019. It expanded its capacity from 1.8 MnTPA to 3.5 MnTPA. ^[3]

The company is also planning to set up a 0.5 MnTPA cement plant in Arakkonam, Tamil Nadu.^[2]

Website BSE NSE

Market Cap ₹ 2,342 Cr.
Current Price ₹ 182
High / Low ₹ 234 / 99.3
Stock P/E 14.2
Book Value ₹ 99.4
Dividend Yield 0.06 %
ROCE 6.22 %
ROE 3.45 %
Face Value ₹ 1.00

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Pros

Cons

Tax rate seems low
Company has a low return on equity of 12.2% over last 3 years.
Dividend payout has been low at 8.59% of profits over last 3 years
Working capital days have increased from 57.8 days to 81.5 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: Cement Industry: Cement - South India

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Detailed Comparison with:

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
	441	510	542	528	510	542	566	538	551	598	744	700	777
	361	394	417	416	450	452	501	519	549	511	677	627	678
Operating Profit	80	116	125	112	60	90	65	19	2	87	67	74	99
OPM %	18%	23%	23%	21%	12%	17%	11%	4%	0%	15%	9%	11%	13%
	4	23	8	1	2	14	5	5	21	7	13	6	36
Interest	12	7	10	9	8	7	9	11	9	9	13	13	8
Depreciation	23	22	22	22	22	21	23	21	23	22	22	23	23
Profit before tax	49	109	101	83	32	77	37	-8	-9	64	46	45	104
Tax %	35%	16%	11%	21%	20%	23%	-14%	151%	-31%	14%	-8%	-8%	8%
	32	90	89	65	25	60	43	4	-11	56	50	50	96
EPS in Rs	2.57	5.83	5.65	4.16	1.71	3.07	1.94	-0.40	-0.78	2.48	2.35	2.53	5.44
Raw PDF

Upcoming result date: 20 May 2024

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
	1,016	1,136	1,061	1,188	1,296	1,231	1,476	1,661	1,424	1,693	2,108	2,254	2,820
	824	1,025	933	1,020	1,033	1,010	1,219	1,429	1,232	1,328	1,733	2,079	2,492
Operating Profit	192	111	127	168	263	220	256	232	192	364	375	174	328
OPM %	19%	10%	12%	14%	20%	18%	17%	14%	13%	22%	18%	8%	12%
	44	76	21	13	4	9	2	8	4	27	38	38	63
Interest	42	40	46	51	52	51	45	41	60	47	35	39	43
Depreciation	41	44	47	48	48	63	71	76	96	92	87	90	90
Profit before tax	154	103	54	81	167	116	143	124	39	252	292	84	258
Tax %	17%	17%	8%	16%	30%	17%	22%	12%	-47%	25%	18%	-7%
	128	85	50	67	117	98	113	110	58	185	240	91	252
EPS in Rs	8.23	5.06	2.68	3.91	7.24	5.94	6.94	6.38	2.10	12.64	14.59	3.24	12.80
Dividend Payout %	48%	75%	56%	19%	14%	34%	14%	16%	7%	16%	7%	3%

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	17%
TTM:	28%

Compounded Profit Growth
10 Years:	-5%
5 Years:	-15%
3 Years:	15%
TTM:	184%

Stock Price CAGR
10 Years:	20%
5 Years:	15%
3 Years:	23%
1 Year:	72%

Return on Equity
10 Years:	11%
5 Years:	10%
3 Years:	12%
Last Year:	3%

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	13	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	469	476	484	519	602	663	723	798	825	983	1,164	1,212	1,269
Preference Capital	20	15	8	0	0	0	0	0	0	0	0	0
	353	327	467	451	479	516	556	596	549	468	437	558	541
	340	445	388	414	501	454	515	551	586	645	768	835	808
Total Liabilities	1,175	1,261	1,353	1,397	1,595	1,646	1,807	1,957	1,973	2,109	2,382	2,618	2,630
	591	568	570	644	973	871	908	1,186	1,180	1,096	1,058	998	967
CWIP	25	103	175	121	0	109	256	42	15	23	8	10	9
Investments	5	5	5	5	5	14	15	15	15	11	11	10	13
	555	585	603	627	617	651	629	714	763	979	1,304	1,599	1,641
Total Assets	1,175	1,261	1,353	1,397	1,595	1,646	1,807	1,957	1,973	2,109	2,382	2,618	2,630

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
	183	239	10	194	241	127	213	152	193	130	139	-72
	-85	-100	-108	-46	-248	-67	-252	-139	-28	29	-26	3
	-132	-82	22	-79	-49	-18	-18	-14	-161	-175	-111	68
Net Cash Flow	-34	58	-76	69	-56	41	-57	-1	4	-17	1	-1

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	49	28	32	20	40	25	18	18	23	25	22	25
Inventory Days	211	159	230	154	137	218	274	218	217	203	235	295
Days Payable	60	60	71	45	45	65	78	60	97	71	67	60
Cash Conversion Cycle	200	127	191	130	132	178	214	177	143	156	190	260
Working Capital Days	74	50	98	61	51	61	56	46	24	43	49	81
ROCE %	22%	17%	10%	13%	19%	13%	14%	11%	6%	18%	19%	6%

Shareholding Pattern

Numbers in percentages

4 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	43.86%	43.86%	43.88%	43.92%	43.99%	43.98%	43.99%	44.07%	44.07%	43.93%	43.94%	43.94%
	0.56%	1.42%	1.74%	2.02%	2.02%	2.15%	2.22%	2.14%	2.01%	1.85%	1.90%	1.54%
	0.77%	0.65%	0.66%	0.65%	0.66%	0.64%	0.64%	0.64%	0.64%	0.69%	0.62%	1.04%
	54.80%	54.07%	53.72%	53.41%	53.33%	53.21%	53.14%	53.12%	53.26%	53.52%	53.53%	53.46%
No. of Shareholders	27,426	35,326	35,206	43,429	43,613	42,639	42,027	40,916	40,061	39,594	41,153	54,321

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	45.23%	44.33%	44.21%	43.98%	43.72%	43.92%	44.07%	43.94%
	0.31%	0.86%	1.25%	0.97%	0.31%	2.02%	2.14%	1.54%
	5.98%	5.14%	5.39%	5.78%	0.95%	0.65%	0.64%	1.04%
	48.48%	49.67%	49.15%	49.27%	55.02%	53.41%	53.12%	53.46%
No. of Shareholders	20,485	23,783	22,536	21,257	25,497	43,429	40,916	54,321

* 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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K C P Ltd

K C P Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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