Pennar Industries Ltd

About [ edit ]

Pennar Industries Limited is a holding company. The Company is engaged in the manufacture of steel products, including Cold Rolled Steel Strips (CRSS) and Cold Formed Metal Profiles.

  • Market Cap 243 Cr.
  • Current Price 17.1
  • High / Low 27.0 / 13.8
  • Stock P/E
  • Book Value 46.4
  • Dividend Yield 0.00 %
  • ROCE 12.7 %
  • ROE 7.76 %
  • Face Value 5.00

Pros

  • Stock is trading at 0.37 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.92% over past five years.
  • Promoter holding is low: 37.70%
  • Company has a low return on equity of 10.84% for last 3 years.
  • Contingent liabilities of Rs.321.89 Cr.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
503.08 462.24 518.17 567.63 585.07 537.83 579.95 537.38 451.39 166.19 390.44 411.93
425.83 420.92 485.93 526.55 526.54 486.21 535.42 490.79 425.02 182.22 360.02 379.06
Operating Profit 77.25 41.32 32.24 41.08 58.53 51.62 44.53 46.59 26.37 -16.03 30.42 32.87
OPM % 15.36% 8.94% 6.22% 7.24% 10.00% 9.60% 7.68% 8.67% 5.84% -9.65% 7.79% 7.98%
Other Income 20.90 4.26 9.77 7.60 5.11 3.53 8.62 3.55 4.58 2.76 2.25 4.66
Interest 19.68 15.88 17.28 19.37 22.67 19.92 22.67 22.58 18.28 19.77 19.82 21.98
Depreciation 8.05 6.34 6.83 7.55 7.17 9.50 10.42 11.37 11.53 12.07 12.18 12.13
Profit before tax 70.42 23.36 17.90 21.76 33.80 25.73 20.06 16.19 1.14 -45.11 0.67 3.42
Tax % 32.52% 38.40% 29.27% 29.73% 28.05% 35.45% -17.25% 23.97% 15.79% 24.54% 14.93% 20.18%
Net Profit 47.52 13.13 12.66 15.24 24.15 16.51 23.50 12.09 0.95 -34.11 0.49 2.64
EPS in Rs 3.95 1.09 1.05 1.27 2.01 1.08 1.54 0.80 0.07 -2.40 0.03 0.19

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 TTM
797 1,208 1,219 1,115 1,125 1,313 1,356 1,541 1,768 2,133 2,107 1,420
682 1,051 1,074 1,002 1,035 1,195 1,208 1,387 1,562 1,959 1,937 1,346
Operating Profit 115 157 145 113 90 118 148 154 206 175 169 74
OPM % 14% 13% 12% 10% 8% 9% 11% 10% 12% 8% 8% 5%
Other Income 0 2 4 5 4 3 3 8 29 25 20 14
Interest 17 24 31 31 26 36 38 62 67 75 83 80
Depreciation 13 13 17 18 19 18 19 25 29 28 43 48
Profit before tax 86 122 101 69 48 67 94 75 138 97 63 -40
Tax % 42% 38% 36% 34% 36% 35% 38% 33% 34% 31% 15%
Net Profit 50 74 62 42 26 36 44 35 89 66 53 -30
EPS in Rs 4.08 6.06 5.08 3.43 2.15 2.98 3.64 2.87 7.43 5.52 3.65 -2.11
Dividend Payout % 31% 21% 20% 29% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:10%
5 Years:10%
3 Years:11%
TTM:-37%
Compounded Profit Growth
10 Years:1%
5 Years:8%
3 Years:15%
TTM:-139%
Stock Price CAGR
10 Years:-9%
5 Years:-19%
3 Years:-31%
1 Year:-9%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:11%
Last Year:8%

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 Sep 2020
70 70 70 70 66 63 60 60 76 76 73 71
Reserves 145 199 244 278 311 342 454 416 528 591 628 589
Borrowings 192 169 174 163 156 195 267 299 355 445 490 499
90 135 212 251 306 334 644 709 553 631 663 571
Total Liabilities 489 564 691 754 832 931 1,425 1,484 1,512 1,744 1,853 1,730
180 203 246 235 268 282 464 441 342 454 626 608
CWIP 9 7 2 17 13 3 3 12 27 118 33 22
Investments -0 -0 -0 3 26 26 33 35 69 52 45 25
299 354 444 499 526 620 925 996 1,073 1,120 1,149 1,075
Total Assets 489 564 691 754 832 931 1,425 1,484 1,512 1,744 1,853 1,730

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
32 86 88 88 84 30 205 -19 -2 174 191
-59 -36 -58 -27 -72 -30 -268 41 -39 -204 -72
37 -52 -30 -43 -35 -4 115 -21 16 13 -95
Net Cash Flow 10 -2 1 19 -23 -3 51 1 -26 -18 24

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
ROCE % 35% 28% 20% 14% 18% 19% 18% 22% 17% 13%
Debtor Days 56 50 63 76 81 94 103 82 83 79 69
Inventory Turnover 6.17 5.47 4.60 4.28 4.38 3.56 2.88 2.64 3.08 2.92

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
36.37 36.41 36.41 36.41 35.24 35.24 35.39 36.84 37.76 37.69 37.69 37.69
12.79 12.44 11.35 10.45 9.56 9.80 9.81 10.05 10.19 9.68 9.83 8.82
8.68 9.02 8.96 9.57 12.09 11.95 11.44 9.14 6.91 6.55 6.41 5.86
42.16 42.13 43.28 43.57 43.11 43.01 43.36 43.98 45.14 46.08 46.07 47.62

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