Nelcast Ltd

Nelcast Limited is engaged in the business of manufacture and sale of iron castings.

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 23.15% over 5 years
Company has been maintaining a healthy dividend payout of 22.51%
Cons:
The company has delivered a poor growth of 7.96% over past five years.
Company has a low return on equity of 10.76% for last 3 years.
Company might be capitalizing the interest cost

Peer Comparison Sector: Castings, Forgings & Fastners // Industry: Castings & Forgings

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
129.51 158.82 140.15 142.97 132.63 150.51 179.73 201.39 212.92 205.37 242.91 233.66
117.08 142.94 123.96 124.27 119.16 135.27 161.68 181.93 194.10 184.16 221.21 215.55
Operating Profit 12.43 15.88 16.19 18.70 13.47 15.24 18.05 19.46 18.82 21.21 21.70 18.11
OPM % 9.60% 10.00% 11.55% 13.08% 10.16% 10.13% 10.04% 9.66% 8.84% 10.33% 8.93% 7.75%
Other Income 0.70 0.50 0.70 0.36 2.98 0.91 0.71 1.08 1.61 1.11 1.80 1.96
Interest 1.57 1.63 1.72 1.76 1.04 0.87 0.94 0.57 0.54 0.84 1.68 1.57
Depreciation 3.34 3.33 3.37 3.38 3.34 3.81 4.12 4.03 3.97 4.01 4.16 4.74
Profit before tax 8.22 11.42 11.80 13.92 12.07 11.47 13.70 15.94 15.92 17.47 17.66 13.76
Tax % 22.02% 31.61% 33.22% 29.45% 28.58% 33.13% 26.72% 35.51% 35.49% 34.63% 34.60% 33.36%
Net Profit 6.42 7.80 7.87 9.82 8.62 7.68 10.03 10.28 10.27 11.42 11.55 9.18
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
306 356 290 320 507 653 508 515 545 561 575 745 895
265 310 270 297 477 572 475 467 500 497 510 673 815
Operating Profit 41 46 20 22 31 81 33 49 45 64 64 72 80
OPM % 13% 13% 7% 7% 6% 12% 6% 9% 8% 11% 11% 10% 9%
Other Income 1 3 4 2 115 7 2 2 2 2 5 4 6
Interest 7 5 12 7 8 9 3 2 5 7 6 3 5
Depreciation 5 6 7 7 9 11 11 13 13 13 13 16 17
Profit before tax 30 39 6 10 129 68 21 36 30 46 49 57 65
Tax % 34% 34% 35% 31% 33% 32% 33% 38% 26% 31% 31% 33%
Net Profit 20 26 4 7 87 46 14 22 22 32 34 38 42
EPS in Rs 2.89 0.40 0.74 9.49 5.02 1.52 2.47 2.38 3.50 3.92 4.40
Dividend Payout % 20% 20% 46% 38% 30% 34% 31% 27% 28% 22% 23% 23%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:7.64%
5 Years:7.96%
3 Years:10.97%
TTM:34.72%
Compounded Profit Growth
10 Years:3.93%
5 Years:23.15%
3 Years:20.37%
TTM:15.87%
Return on Equity
10 Years:9.34%
5 Years:9.90%
3 Years:10.76%
Last Year:10.83%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
13 17 17 17 17 17 17 17 17 17 17 17 17
Reserves 30 135 137 141 197 225 234 250 264 288 322 350 362
Borrowings 73 74 173 173 92 85 89 87 98 96 77 98 140
53 62 46 72 84 112 99 105 106 114 129 172 194
Total Liabilities 170 289 373 404 391 440 440 459 485 515 545 637 713
73 106 107 129 171 190 187 233 232 248 245 238 296
CWIP 2 12 99 100 1 4 44 2 5 0 1 36 22
Investments 0 0 0 0 0 1 21 26 32 37 39 39 39
94 171 167 175 218 245 189 199 217 231 261 324 356
Total Assets 170 289 373 404 391 440 440 459 485 515 545 637 713

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
27 -25 1 38 44 63 60 43 26 45 28 33
-17 -47 -94 -30 124 -32 -67 -21 -19 -28 -10 -43
-10 83 82 -7 -116 -20 -8 -18 -7 -16 -17 18
Net Cash Flow -0 11 -11 0 52 10 -14 4 -0 1 1 8

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 35% 26% 6% 5% 8% 24% 7% 11% 9% 14% 14% 14%
Debtor Days 55 79 69 65 63 43 45 49 47 43 48 57
Inventory Turnover 8.18 7.03 3.93 3.65 7.31 12.60 10.02 11.51 10.82 8.64 6.84 7.26