Precision Wires India Ltd

Precision Wires India Ltd is engaged in manufacturing of Enamelled Round and Rectangular Copper Winding Wires, Continuously Transposed Conductor (CTC) and Paper/MicalNomex Insulated Copper Conductors (PICC) which are used by the electrical/electronics industries.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is providing a good dividend yield of 3.21%.
Company has good consistent profit growth of 24.25% over 5 years
Company has been maintaining a healthy dividend payout of 29.90%
Cons:

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

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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
211 206 250 268 307 415 420 442 432 439 446 427
197 194 233 247 288 390 397 417 409 417 423 405
Operating Profit 14 12 16 21 19 25 23 26 23 22 23 22
OPM % 7% 6% 7% 8% 6% 6% 5% 6% 5% 5% 5% 5%
Other Income 0 0 0 0 0 0 0 0 0 0 0 0
Interest 2 2 2 3 3 4 6 5 5 4 4 6
Depreciation 4 4 4 3 4 3 3 3 3 3 4 4
Profit before tax 8 7 10 14 12 18 14 18 16 15 16 13
Tax % 34% 35% 28% 35% 38% 38% 42% 35% 35% 36% 35% 36%
Net Profit 5 4 7 9 8 11 8 12 10 10 10 8
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
574 536 630 874 932 976 982 881 843 884 1,408 1,758 1,744
535 520 586 811 894 936 928 833 792 830 1,322 1,665 1,653
Operating Profit 39 16 45 63 38 40 54 47 52 54 85 93 91
OPM % 7% 3% 7% 7% 4% 4% 5% 5% 6% 6% 6% 5% 5%
Other Income 1 1 4 1 1 1 5 3 2 3 2 2 0
Interest 5 4 5 5 6 5 24 14 11 9 15 17 18
Depreciation 9 10 11 12 13 13 12 20 16 14 14 13 14
Profit before tax 26 2 33 47 20 24 23 17 27 33 58 65 59
Tax % 35% 44% 32% 34% 28% 33% 37% 40% 36% 32% 38% 35%
Net Profit 17 1 23 31 14 16 14 10 17 23 36 42 38
EPS in Rs 7.16 0.43 9.41 12.91 5.88 6.57 5.39 3.82 6.70 9.49 15.56 18.08
Dividend Payout % 24% 80% 22% 22% 25% 29% 80% 63% 44% 36% 29% 25%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.61%
5 Years:12.36%
3 Years:27.73%
TTM:10.08%
Compounded Profit Growth
10 Years:42.74%
5 Years:24.25%
3 Years:34.88%
TTM:-1.01%
Return on Equity
10 Years:11.37%
5 Years:11.97%
3 Years:14.77%
Last Year:16.65%

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
12 12 12 12 12 12 12 12 12 12 12 12
Reserves 130 130 147 170 180 191 192 175 183 201 225 254
Borrowings 77 63 57 75 64 96 53 38 28 38 33 24
134 94 136 224 197 234 179 134 135 152 259 301
Total Liabilities 352 298 351 480 453 531 436 358 357 403 529 590
128 132 127 148 147 134 127 87 80 82 79 113
CWIP 4 3 5 5 3 3 3 3 12 5 10 10
Investments 0 0 0 0 0 20 0 0 2 1 1 1
221 164 219 327 302 375 306 269 263 315 438 465
Total Assets 352 298 351 480 453 531 436 358 357 403 529 590

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
23 24 31 65 7 27 6 32 45 13 95 59
-13 -13 -8 -74 16 -31 37 -5 -19 -9 -17 -47
2 -23 -15 8 -24 17 -57 -36 -27 -6 -31 -40
Net Cash Flow 12 -12 8 -1 -1 13 -13 -8 -1 -2 46 -27

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 % 15% 3% 17% 22% 10% 10% 17% 13% 17% 18% 28% 29%
Debtor Days 73 54 80 80 66 72 69 57 58 75 66 61
Inventory Turnover 12.71 11.08 17.70 22.55 14.92 11.20 11.31 10.32 8.75 8.65 13.09 15.21