Prakash Industries Ltd

Prakash Industries Limited is engaged in the production of ferro alloys, MS TMT/MS Coil and allied products, HB Wire Rod, and PVC Pipe and Sockets.

Pros:
Stock is trading at 0.26 times its book value
Promoter's stake has increased
Company has good consistent profit growth of 25.85% over 5 years
Cons:
Promoter's stake has decreased
Tax rate seems low
Company has a low return on equity of 13.72% for last 3 years.
Promoters have pledged 46.57% of their holding
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Steel // Industry: Steel - Medium / Small

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
501 469 628 650 648 726 910 895 950 940 885 825
446 406 540 542 529 575 707 665 760 745 702 732
Operating Profit 56 62 87 108 119 150 204 230 190 195 182 94
OPM % 11% 13% 14% 17% 18% 21% 22% 26% 20% 21% 21% 11%
Other Income 1 1 1 1 6 2 7 1 2 2 -3 2
Interest 17 19 21 21 22 19 25 21 27 28 25 25
Depreciation 26 26 26 27 31 32 31 33 34 34 34 34
Profit before tax 15 18 42 62 71 101 154 177 131 135 120 37
Tax % 0% 0% 18% 4% 0% 0% 1% 10% 0% 1% -5% 0%
Net Profit 15 18 34 59 71 101 152 159 131 134 126 37
EPS in Rs 0.94 1.17 2.21 3.57 4.09 5.83 8.68 8.84 7.01 7.14 6.74 2.24
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,252 1,523 1,563 1,658 2,100 2,510 2,595 2,830 2,053 2,174 2,935 3,588 3,601
958 1,226 1,210 1,317 1,735 2,183 2,219 2,421 1,863 1,909 2,351 3,182 2,939
Operating Profit 294 297 353 341 366 326 376 409 190 264 584 406 661
OPM % 23% 20% 23% 21% 17% 13% 14% 14% 9% 12% 20% 11% 18%
Other Income -5 11 2 9 2 2 4 -241 4 2 15 383 2
Interest 41 60 25 6 14 55 58 61 69 75 89 102 104
Depreciation 48 42 57 70 78 106 118 98 102 103 121 134 136
Profit before tax 199 205 273 274 276 167 204 9 23 88 388 553 423
Tax % 0% 0% 3% 2% 3% 1% 15% 0% 0% 8% 1% 2%
Net Profit 199 204 266 267 268 165 173 9 23 81 386 539 428
EPS in Rs 15.02 15.43 19.08 17.19 17.26 10.55 11.09 0.60 1.52 5.09 21.48 28.80 23.13
Dividend Payout % 0% 0% 0% 5% 5% 8% 8% 0% 0% 0% 0% 4%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.95%
5 Years:6.69%
3 Years:20.44%
TTM:13.26%
Compounded Profit Growth
10 Years:10.05%
5 Years:25.85%
3 Years:184.31%
TTM:-11.50%
Stock Price CAGR
10 Years:-10.78%
5 Years:-2.53%
3 Years:-6.69%
1 Year:-58.16%
Return on Equity
10 Years:11.69%
5 Years:10.57%
3 Years:13.72%
Last Year:19.72%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
115 115 122 134 134 134 134 134 134 139 157 163
Reserves 794 914 1,244 1,584 1,824 1,959 2,098 2,071 2,003 2,058 2,547 2,670
Borrowings 363 259 230 677 969 924 953 913 857 935 818 661
181 290 334 270 257 244 276 326 368 385 504 600
Total Liabilities 1,454 1,578 1,929 2,665 3,184 3,261 3,462 3,445 3,362 3,518 4,026 4,094
777 887 1,075 1,060 1,612 1,719 1,747 1,733 1,635 1,578 2,377 2,357
CWIP 176 241 303 912 842 790 893 944 955 1,141 690 710
Investments 0 2 2 27 50 16 35 2 2 0 0 0
501 447 550 666 679 737 786 765 770 798 959 1,026
Total Assets 1,454 1,578 1,929 2,665 3,184 3,261 3,462 3,445 3,362 3,518 4,026 4,094

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
173 269 270 143 260 193 314 232 242 269 476 696
-167 -230 -317 -679 -503 -133 -230 -109 -149 -248 -480 -535
69 -92 118 497 230 -85 -88 -108 -103 -14 10 -169
Net Cash Flow 75 -53 70 -39 -13 -24 -5 15 -10 7 7 -8

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 20% 21% 22% 14% 11% 7% 8% 10% 3% 5% 14% 19%
Debtor Days 33 26 19 19 16 13 12 13 14 13 12 15
Inventory Turnover 13.03 16.86 17.00 12.54 12.33 13.07 11.84 13.26 10.90 11.74 13.38 14.82