Precision Wires India Ltd

Precision Wires India is engaged in production and sale of winding wires made of copper of all types.

Pros:
Company is virtually debt free.
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 36.31%
Cons:
Company has a low return on equity of 12.21% for last 3 years.

Peer Comparison Sector: Non Ferrous Metals // Industry: Mining / Minerals / Metals

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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
210.05 219.80 211.18 206.31 249.78 267.83 307.09 414.99 419.95 442.35 431.86 439.02
196.00 205.81 196.92 194.04 233.45 246.99 287.98 390.38 397.14 416.56 408.65 416.59
Operating Profit 14.05 13.99 14.26 12.27 16.33 20.84 19.11 24.61 22.81 25.79 23.21 22.43
OPM % 6.69% 6.36% 6.75% 5.95% 6.54% 7.78% 6.22% 5.93% 5.43% 5.83% 5.37% 5.11%
Other Income 0.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest 2.76 2.69 2.35 1.89 2.30 3.12 2.99 3.59 5.51 4.58 4.58 4.32
Depreciation 3.96 3.31 3.70 3.64 3.63 3.33 3.76 3.49 3.49 2.94 2.94 3.13
Profit before tax 7.46 7.99 8.21 6.74 10.40 14.39 12.36 17.53 13.81 18.27 15.69 14.98
Tax % 33.51% 33.42% 34.35% 35.16% 28.27% 34.95% 38.03% 37.76% 41.64% 35.08% 35.12% 35.85%
Net Profit 4.96 5.33 5.39 4.37 7.46 9.36 7.66 10.91 8.05 11.85 10.18 9.60
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
586 574 536 630 874 932 976 982 881 843 884 1,408 1,733
549 535 520 586 811 894 936 928 833 792 830 1,322 1,639
Operating Profit 38 39 16 45 63 38 40 54 47 52 54 85 94
OPM % 6% 7% 3% 7% 7% 4% 4% 5% 5% 6% 6% 6% 5%
Other Income 1 1 1 4 1 1 1 5 3 2 3 2 0
Interest 5 5 4 5 5 6 5 24 14 11 9 15 19
Depreciation 8 9 10 11 12 13 13 12 20 16 14 14 12
Profit before tax 25 26 2 33 47 20 24 23 17 27 33 58 63
Tax % 34% 35% 44% 32% 34% 28% 33% 37% 40% 36% 32% 38%
Net Profit 17 17 1 23 31 14 16 14 10 17 23 36 40
EPS in Rs 7.70 7.15 0.43 9.41 12.91 5.88 6.57 5.39 3.82 6.70 9.49 15.15
Dividend Payout % 22% 24% 80% 22% 22% 25% 29% 80% 63% 44% 36% 29%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.39%
5 Years:7.61%
3 Years:16.92%
TTM:39.81%
Compounded Profit Growth
10 Years:7.65%
5 Years:17.75%
3 Years:53.00%
TTM:12.12%
Return on Equity
10 Years:9.86%
5 Years:9.81%
3 Years:12.21%
Last Year:16.04%

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
10 12 12 12 12 12 12 12 12 12 12 12 12
Reserves 99 130 130 147 170 180 191 192 175 183 201 225 240
Borrowings 85 77 63 57 75 64 96 53 38 28 38 33 7
125 134 94 136 224 197 234 179 134 135 152 259 330
Total Liabilities 319 352 298 351 480 453 531 436 358 357 403 529 588
118 128 132 127 148 147 134 127 87 80 82 79 80
CWIP 3 4 3 5 5 3 3 3 3 12 5 10 28
Investments 6 0 0 0 0 0 20 0 0 2 1 1 6
192 221 164 219 327 302 375 306 269 263 315 438 475
Total Assets 319 352 298 351 480 453 531 436 358 357 403 529 588

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
0 23 24 31 65 7 27 6 32 45 13 95
-32 -13 -13 -8 -74 16 -31 37 -5 -19 -9 -17
40 2 -23 -15 8 -24 17 -57 -36 -27 -6 -31
Net Cash Flow 8 12 -12 8 -1 -1 13 -13 -8 -1 -2 46

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 % 19% 15% 3% 17% 22% 10% 10% 17% 13% 17% 18% 28%
Debtor Days 69 73 54 80 80 66 72 69 57 58 75 66
Inventory Turnover 16.81 12.71 11.08 17.70 22.55 14.92 11.20 11.31 10.32 8.75 8.65 13.09