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 2,396 Cr.
  • Current Price 277
  • High / Low 326 / 104
  • Stock P/E 9.77
  • Book Value 386
  • Dividend Yield 0.36 %
  • ROCE 3.33 %
  • ROE 5.27 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.72 times its book value
  • Market value of investments Rs.2742.60 Cr. is more than the Market Cap Rs.2396.20 Cr.

Cons

  • The company has delivered a poor sales growth of 2.45% over past five years.
  • Company has a low return on equity of 5.68% for last 3 years.
  • Dividend payout has been low at 2.51% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
255 331 227 214 264 323 221 199 232 305 261 304
233 281 200 193 234 278 198 180 214 243 218 255
Operating Profit 22 50 27 21 30 44 23 19 17 62 43 48
OPM % 9% 15% 12% 10% 11% 14% 10% 9% 7% 20% 17% 16%
Other Income 18 1 18 2 38 2 23 4 16 2 3 2
Interest 10 4 4 4 4 4 3 4 4 3 2 2
Depreciation 7 7 7 7 8 8 8 8 8 8 8 8
Profit before tax 23 41 34 11 57 35 35 12 22 52 36 40
Tax % -9% 36% 26% 50% 6% 47% 19% 66% 16% 33% 38% 41%
Net Profit 70 55 36 28 53 61 51 25 33 62 79 72
EPS in Rs 8.10 6.36 4.18 3.21 6.14 7.04 5.84 2.89 3.79 7.13 9.10 8.27

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
512 568 652 783 880 785 863 865 881 932 1,036 974 1,101
417 467 527 650 749 722 786 785 764 814 909 871 931
Operating Profit 94 101 125 133 131 63 77 79 117 118 128 103 170
OPM % 18% 18% 19% 17% 15% 8% 9% 9% 13% 13% 12% 11% 15%
Other Income 23 25 9 25 18 11 25 44 22 44 24 46 23
Interest 26 22 21 25 31 36 38 40 34 22 15 15 11
Depreciation 33 31 30 35 37 49 25 25 26 28 29 31 33
Profit before tax 59 73 82 99 80 -11 39 57 79 112 107 103 150
Tax % 27% 25% 26% 22% 16% 71% 7% -0% 30% 30% 30% 33%
Net Profit 43 55 61 77 67 -3 90 192 205 176 172 170 245
EPS in Rs 4.92 6.33 7.00 8.87 7.78 -0.36 10.39 22.21 23.63 20.31 19.89 19.56 28.29
Dividend Payout % 15% 13% 13% 12% 14% -70% 3% 2% 2% 2% 3% 3%
Compounded Sales Growth
10 Years:6%
5 Years:2%
3 Years:3%
TTM:9%
Compounded Profit Growth
10 Years:12%
5 Years:15%
3 Years:-6%
TTM:32%
Stock Price CAGR
10 Years:20%
5 Years:19%
3 Years:2%
1 Year:144%
Return on Equity
10 Years:8%
5 Years:7%
3 Years:6%
Last Year:5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
4 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 300 347 397 461 518 513 602 2,514 2,707 2,877 3,044 3,201 3,341
Borrowings 261 248 238 239 451 408 413 363 336 213 187 238 87
111 113 149 155 145 117 140 173 211 217 224 266 311
Total Liabilities 677 716 794 864 1,123 1,047 1,164 3,059 3,263 3,315 3,464 3,713 3,747
247 229 240 300 291 411 407 407 424 424 443 467 461
CWIP 3 27 32 17 110 12 10 22 11 10 5 21 31
Investments 198 198 198 198 198 198 261 2,129 2,270 2,366 2,477 2,602 2,690
230 262 325 349 524 427 487 501 558 515 539 624 566
Total Assets 677 716 794 864 1,123 1,047 1,164 3,059 3,263 3,315 3,464 3,713 3,747

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
52 69 139 51 9 123 89 79 47 126 88 36
-19 -18 -50 -64 -117 -50 -15 6 -9 13 -33 -63
-36 -43 -70 -7 98 -55 -77 -57 -48 -150 -36 27
Net Cash Flow -3 8 20 -20 -10 18 -3 28 -9 -12 20 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 16% 16% 17% 18% 13% 3% 7% 4% 3% 4% 4% 3%
Debtor Days 26 24 29 28 26 29 30 30 30 35 33 31
Inventory Turnover 3.13 2.66 2.90 3.30 2.33 1.97 2.21 1.99 1.69 1.77 2.08 1.70

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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