Ramco Industries Ltd

About [ edit ]

Ramco Industries is engaged in the business of manufacture of Fiber Cement (FC) sheets and Calcium Silicate Boards (CSBs).

  • Market Cap 2,369 Cr.
  • Current Price 273
  • High / Low 326 / 146
  • Stock P/E 21.4
  • Book Value 104
  • Dividend Yield 0.37 %
  • ROCE 16.4 %
  • ROE 13.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 37.76% CAGR over last 5 years

Cons

  • Stock is trading at 2.63 times its book value
  • The company has delivered a poor sales growth of 7.23% over past five years.
  • Company has a low return on equity of 10.62% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
304 188 182 224 296 177 160 193 274 206 246 277
260 170 164 201 256 162 149 185 219 174 209 250
Operating Profit 44 19 18 23 40 15 11 8 55 32 37 27
OPM % 15% 10% 10% 10% 13% 8% 7% 4% 20% 16% 15% 10%
Other Income 1 24 8 2 10 21 12 14 1 14 15 16
Interest 4 4 4 4 4 3 4 4 3 2 2 2
Depreciation 6 6 6 6 6 6 6 6 7 7 7 7
Profit before tax 35 33 15 14 39 26 13 12 46 37 43 35
Tax % 39% 21% 30% -5% 35% 18% 36% 21% 34% 27% 33% 28%
Net Profit 22 26 11 15 26 22 8 10 30 27 29 25
EPS in Rs 2.49 3.03 1.24 1.68 2.97 2.49 0.98 1.13 3.46 3.13 3.30 2.90

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
500 548 663 761 656 720 707 712 799 898 826 1,003
413 447 576 663 617 684 668 639 709 794 753 852
Operating Profit 87 101 88 98 39 36 39 73 90 103 73 151
OPM % 17% 18% 13% 13% 6% 5% 6% 10% 11% 12% 9% 15%
Other Income 33 18 43 29 23 39 47 55 54 34 58 47
Interest 22 21 24 29 34 37 40 34 22 15 15 9
Depreciation 29 29 33 33 43 19 20 21 23 25 26 28
Profit before tax 69 69 73 65 -15 20 27 73 99 98 91 160
Tax % 22% 23% 16% 16% 59% -6% -23% 18% 27% 25% 28% 31%
Net Profit 54 53 61 54 -6 21 33 60 72 73 66 111
EPS in Rs 6.18 6.14 7.08 6.29 -0.69 2.42 3.85 6.91 8.31 8.45 7.56 12.78
Dividend Payout % 14% 15% 16% 18% -36% 12% 13% 7% 6% 6% 7% 8%
Compounded Sales Growth
10 Years:6%
5 Years:7%
3 Years:8%
TTM:21%
Compounded Profit Growth
10 Years:8%
5 Years:38%
3 Years:20%
TTM:83%
Stock Price CAGR
10 Years:21%
5 Years:19%
3 Years:5%
1 Year:58%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:11%
Last Year:13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
9 9 9 9 9 9 9 9 9 9 9 9
Reserves 320 365 415 459 451 468 515 581 656 727 776 892
Borrowings 248 238 232 432 394 404 359 336 213 187 238 142
105 135 134 125 102 126 127 186 197 203 239 324
Total Liabilities 682 747 791 1,025 956 1,006 1,010 1,112 1,073 1,126 1,262 1,367
218 231 267 248 370 370 376 396 395 415 439 447
CWIP 25 25 7 104 6 3 14 2 5 1 19 34
Investments 203 203 203 203 203 213 236 241 247 260 281 337
236 289 313 470 377 419 385 472 427 451 524 548
Total Assets 682 747 791 1,025 956 1,006 1,010 1,112 1,073 1,126 1,262 1,367

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
50 108 18 2 80 62 23 -1 109 52 10 119
-8 -27 -15 -95 -34 1 29 43 42 -4 -30 -25
-40 -76 -12 92 -46 -68 -49 -46 -150 -44 27 -103
Net Cash Flow 3 5 -9 -2 0 -5 2 -4 1 4 7 -9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 16% 15% 15% 12% 2% 5% 6% 10% 12% 13% 10% 16%
Debtor Days 21 33 33 33 36 35 36 38 40 38 35 32
Inventory Turnover 2.63 2.60 3.17 2.36 1.89 2.10 1.92 1.60 1.75 2.09 1.60 1.53

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
53.92 53.92 53.92 53.92 54.03 54.03 54.03 54.03 54.03 54.03 54.03 54.03
0.80 0.73 0.71 0.73 0.77 0.76 0.74 0.75 0.74 0.72 0.71 2.34
4.11 4.11 4.55 4.73 5.00 4.98 5.14 5.34 5.44 5.61 5.27 4.81
0.08 0.08 0.08 0.08 0.08 0.08 0.15 0.15 0.15 0.15 0.16 0.16
41.09 41.17 40.75 40.54 40.13 40.16 39.95 39.73 39.65 39.49 39.83 38.66

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