Sanghi Industries Ltd

Sanghi Industries Ltd

₹ 98.6 -1.82%
21 Jun - close price
About

Sanghi Industries Limited is engaged in the manufacturing and marketing of cement and cement products in domestic and export markets. The Company’s manufacturing facilities are at Sanghipuram, Gujarat. The company sells in Gujarat, Rajasthan, Maharashtra and Kerala and International Markets of the Middle East, Africa and the Indian subcontinent. It also sells Ready Mix Concrete in Ahmedabad and Rajkot markets.[1]

Key Points

Product Portfolio Revenue Split FY23
The Co. manufactures Clinker & different types of Cement such as:
Ordinary Portland Cement (OPC) - 66%
Portland Pozzolana Cement (PPC)- 33%
Portland Slag Cement (PSC) - 1%. [1]

  • Market Cap 2,548 Cr.
  • Current Price 98.6
  • High / Low 156 / 68.5
  • Stock P/E
  • Book Value 43.0
  • Dividend Yield 0.00 %
  • ROCE -5.45 %
  • ROE -34.1 %
  • Face Value 10.0

Pros

  • Promoter holding has increased by 5.93% over last quarter.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -4.99% over past five years.
  • Company has a low return on equity of -15.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
328 282 211 281 355 339 230 134 226 167 181 189 285
234 216 171 239 311 320 232 152 238 263 209 212 226
Operating Profit 94 66 40 42 44 19 -2 -18 -13 -96 -28 -23 59
OPM % 29% 23% 19% 15% 12% 6% -1% -13% -6% -58% -15% -12% 21%
3 2 3 4 2 6 12 1 1 4 95 -58 -10
Interest 20 21 21 20 20 45 46 77 70 73 78 90 42
Depreciation 17 16 16 16 17 24 23 23 23 24 27 31 25
Profit before tax 60 32 6 10 9 -44 -59 -118 -105 -189 -39 -201 -19
Tax % 57% 30% 25% 25% 29% 25% 25% -22% 0% 0% 0% -0% 0%
26 22 4 8 6 -33 -44 -144 -105 -189 -39 -202 -19
EPS in Rs 1.04 0.89 0.18 0.30 0.25 -1.31 -1.77 -5.57 -4.05 -7.33 -1.50 -7.80 -0.74
Raw PDF

Profit & Loss

Figures in Rs. Crores

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,055 1,048 932 840 998 1,026 1,061 888 939 1,129 928 821
854 851 775 689 799 811 907 695 696 938 942 899
Operating Profit 201 197 157 151 198 216 154 193 244 192 -14 -77
OPM % 19% 19% 17% 18% 20% 21% 15% 22% 26% 17% -1% -9%
12 8 7 -59 2 22 27 12 6 11 19 19
Interest 15 14 27 22 64 72 57 78 73 82 238 284
Depreciation 145 148 106 54 73 72 71 62 64 64 93 107
Profit before tax 53 44 31 16 63 93 53 65 113 57 -326 -449
Tax % 13% -14% 0% 2% 0% 0% 0% 0% 31% 28% 0% -0%
46 50 31 16 63 93 53 65 78 41 -326 -449
EPS in Rs 2.09 2.25 1.39 0.73 2.87 3.72 2.10 2.60 3.12 1.62 -12.61 -17.37
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -2%
5 Years: -5%
3 Years: -4%
TTM: -12%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -36%
Stock Price CAGR
10 Years: 14%
5 Years: 10%
3 Years: 22%
1 Year: 33%
Return on Equity
10 Years: -2%
5 Years: -7%
3 Years: -15%
Last Year: -34%

Balance Sheet

Figures in Rs. Crores

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 220 220 220 220 220 251 251 251 251 251 258 258
Reserves 620 670 691 831 894 1,347 1,399 1,464 1,543 1,583 1,301 852
Preference Capital 76 70 43 0 0 0 0 0 0 0 0 0
675 581 492 603 599 740 771 1,256 1,415 1,397 1,548 2,084
366 286 357 366 352 316 394 433 395 589 602 434
Total Liabilities 1,881 1,757 1,760 2,020 2,066 2,654 2,816 3,404 3,604 3,820 3,710 3,628
1,381 1,266 1,238 1,478 1,452 1,509 1,605 1,706 1,652 3,163 3,117 3,185
CWIP 55 59 56 82 167 294 437 1,004 1,338 42 42 4
Investments 0 0 0 0 0 0 0 0 0 0 0 0
445 432 466 460 447 852 774 694 614 614 550 439
Total Assets 1,881 1,757 1,760 2,020 2,066 2,654 2,816 3,404 3,604 3,820 3,710 3,628

Cash Flows

Figures in Rs. Crores

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
145 210 197 142 76 222 122 71 302 402 -25 -243
-24 -44 -44 -124 -8 -684 -112 -471 -342 -298 29 234
-124 -167 -152 -19 -68 463 -10 401 39 -105 -3 182
Net Cash Flow -3 -0 0 -0 -0 0 0 2 -1 -1 1 172

Ratios

Figures in Rs. Crores

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 9 4 6 8 9 11 15 16 19 30 20 0
Inventory Days 561 729 863 811 891 1,814 1,500 1,612 308
Days Payable 290 758 658 730 725 668 589 1,348 98
Cash Conversion Cycle 9 275 6 -21 214 93 181 1,163 930 294 20 210
Working Capital Days 70 26 -4 -14 32 26 12 32 86 32 -40 -73
ROCE % 4% 4% 4% 6% 8% 8% 5% 5% 6% 4% -3% -5%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
70.33% 70.33% 70.33% 70.33% 70.33% 71.93% 72.72% 72.72% 72.72% 72.72% 72.59% 78.52%
0.09% 0.05% 0.23% 0.19% 0.16% 0.66% 0.90% 1.01% 2.09% 1.31% 1.02% 0.13%
2.23% 1.85% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.36% 0.62% 0.09%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.08%
27.35% 27.77% 29.44% 29.48% 29.51% 27.42% 26.36% 26.28% 25.19% 24.61% 25.76% 21.17%
No. of Shareholders 62,46756,29957,42858,19262,17857,05449,22546,54842,92646,46148,46757,095

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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