Prakash Industries Ltd

About [ edit ]

Prakash Industries is engaged primarily in the business of manufacture and sale of Steel Products and generation of Power. The Company has its manufacturing facilities in India and sells products in India.

  • Market Cap 1,598 Cr.
  • Current Price 89.2
  • High / Low 105 / 25.6
  • Stock P/E 25.9
  • Book Value 162
  • Dividend Yield 0.00 %
  • ROCE 6.18 %
  • ROE 4.20 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.55 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.06%
  • The company has delivered a poor sales growth of 0.99% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.14% for last 3 years.
  • Promoters have pledged 54.78% of their holding.
  • Dividend payout has been low at 1.21% of profits over last 3 years
  • Company's cost of borrowing seems high

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
910 895 868 940 885 825 762 739 647 529 764 891
707 665 689 745 702 756 674 652 567 469 701 804
Operating Profit 204 230 179 195 182 70 88 87 80 60 63 87
OPM % 22% 26% 21% 21% 21% 8% 12% 12% 12% 11% 8% 10%
Other Income 7 1 2 2 -3 26 1 1 3 1 2 2
Interest 25 21 27 28 25 25 22 21 26 21 18 18
Depreciation 31 33 33 34 34 34 34 38 39 38 38 39
Profit before tax 154 177 120 135 120 37 33 30 18 3 9 31
Tax % 1% 10% 0% 1% -5% 0% 0% 0% 0% 0% 0% 0%
Net Profit 152 159 120 134 126 37 33 30 18 3 9 31
EPS in Rs 9.69 10.13 7.36 8.19 7.73 2.16 1.94 1.75 1.06 0.19 0.53 1.83

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,523 1,563 1,658 2,100 2,510 2,595 2,830 2,053 2,174 2,935 3,588 2,974 2,831
1,226 1,210 1,317 1,735 2,183 2,219 2,421 1,863 1,909 2,351 3,182 2,648 2,540
Operating Profit 297 353 341 366 326 376 409 190 264 584 406 326 291
OPM % 20% 23% 21% 17% 13% 14% 14% 9% 12% 20% 11% 11% 10%
Other Income 11 2 9 2 2 4 -241 4 2 15 383 31 8
Interest 60 25 6 14 55 58 61 69 75 89 102 94 83
Depreciation 42 57 70 78 106 118 98 102 103 121 134 145 154
Profit before tax 205 273 274 276 167 204 9 23 88 388 553 118 62
Tax % 0% 3% 2% 3% 1% 15% 0% 0% 8% 1% 2% 0%
Net Profit 204 266 267 268 165 173 9 23 81 386 539 118 62
EPS in Rs 21.87 19.86 19.94 12.26 12.87 0.69 1.74 5.83 24.62 33.02 6.90 3.61
Dividend Payout % 0% 0% 5% 5% 8% 8% 0% 0% 0% 0% 4% 0%
Compounded Sales Growth
10 Years:7%
5 Years:1%
3 Years:11%
TTM:-12%
Compounded Profit Growth
10 Years:-8%
5 Years:-11%
3 Years:13%
TTM:-73%
Stock Price CAGR
10 Years:5%
5 Years:21%
3 Years:-17%
1 Year:214%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:13%
Last Year:4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
115 122 134 134 134 134 134 134 139 157 163 171 172
Reserves 914 1,244 1,584 1,824 1,959 2,098 2,071 2,003 2,058 2,547 2,585 2,712 2,732
Borrowings 259 230 677 969 924 953 913 857 935 818 661 572 509
277 323 264 250 244 266 326 368 283 371 532 415 498
Total Liabilities 1,565 1,919 2,659 3,177 3,261 3,452 3,445 3,362 3,416 3,893 3,941 3,870 3,910
887 1,075 1,060 1,612 1,719 1,747 1,733 1,635 1,578 2,377 2,357 3,013 2,968
CWIP 241 303 912 842 790 893 944 955 1,141 690 710 171 246
Investments 2 2 27 50 16 35 2 2 0 0 0 0 0
434 539 660 672 737 777 765 770 697 825 873 687 696
Total Assets 1,565 1,919 2,659 3,177 3,261 3,452 3,445 3,362 3,416 3,893 3,941 3,870 3,910

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
269 270 143 260 193 314 232 242 269 476 696 388
-230 -317 -679 -503 -133 -230 -109 -149 -248 -480 -535 -248
-92 118 497 230 -85 -88 -108 -103 -14 10 -169 -126
Net Cash Flow -53 70 -39 -13 -24 -5 15 -10 7 7 -8 14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 21% 22% 14% 11% 7% 8% 10% 3% 5% 14% 19% 6%
Debtor Days 26 19 19 16 13 12 13 14 13 12 15 24
Inventory Turnover 11.27 10.41 8.13 8.58 9.48 8.45 9.59 8.33 8.63 8.99 9.78 11.67

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
39.66 39.30 39.30 39.30 42.10 42.10 42.10 42.10 42.10 42.04 42.04 40.98
6.56 6.33 5.35 5.21 4.54 3.47 3.68 3.74 3.37 3.11 3.23 2.84
0.24 0.23 0.22 0.22 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.02
53.55 54.14 55.13 55.27 53.33 54.40 54.19 54.13 54.49 54.82 54.70 56.16

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