Srikalahasthi Pipes Ltd // Iron & Steel Products

Pros:
Stock is trading at 0.89 times its book value
Company has a good return on equity (ROE) track record: 3 Years ROE 25.67%
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 8.40% over past five years.

Peer Comparison

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. Jindal Stain .Hi 129.70 7.84 3060.07 0.00 79.39 8.84 2133.16 -3.84 28.88
2. APL Apollo 1490.65 21.01 3537.28 0.94 46.99 20.95 1676.53 45.08 24.99
3. Mishra Dhatu Nig 134.05 19.18 2511.29 1.57 12.82 56.53 106.01 20.80 19.99
4. Srikalahas. Pip. 179.70 6.54 839.17 3.34 17.29 -52.55 296.24 -31.59 16.26
5. Technocraf.Inds. 539.55 11.38 1319.83 0.00 27.94 35.96 274.04 28.10 17.80
6. Shankara Build. 1163.90 34.90 2659.43 0.28 19.46 13.01 785.22 32.72 25.25
7. Gandhi Spl. Tube 372.90 14.31 515.30 2.41 11.30 27.68 37.55 33.92 43.94

Quarterly Results Figures in Rs. Crores

Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018
294.69 280.01 315.05 279.22 174.9 291.55 432.2 433.05 340.33 385.95 339.21 296.24
227.79 211.84 245.87 199.51 136.58 221.02 376.62 368.74 274.42 326.48 285.19 267.88
Operating Profit 66.9 68.17 69.18 79.71 38.32 70.53 55.58 64.31 65.91 59.47 54.02 28.36
OPM % 22.7% 24.35% 21.96% 28.55% 21.91% 24.19% 12.86% 14.85% 19.37% 15.41% 15.93% 9.57%
Other Income 3.93 5.41 7.52 5.48 16.36 3.56 5.07 6.19 5.3 12.54 11.53 12.8
Depreciation 8.6 8.73 8.69 14.37 11.9 9.01 8.82 8.76 9.36 8.88 8.45 9.04
Interest 13.28 10.42 8.69 12.0 7.5 12.11 7.69 11.42 10.38 9.89 11.2 10.95
Profit before tax 48.95 54.43 59.33 58.83 35.27 52.98 44.14 50.32 51.46 53.24 45.91 21.18
Tax 14.63 13.42 13.87 15.86 9.3 12.88 12.95 13.88 14.29 13.78 11.58 3.88
Net Profit 34.32 41.01 45.47 42.97 25.98 40.1 31.19 36.44 37.17 39.47 34.32 17.29

Profit & Loss Figures in Rs. Crores

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
369 464 645 691 726 787 864 989 1,084 1,146 1,178 1,499 1,362
318 386 556 565 639 722 813 872 898 879 941 1,255 1,154
Operating Profit 51 77 89 126 87 65 51 117 186 267 237 244 208
OPM % 13.86% 16.66% 13.75% 18.22% 12.0% 8.29% 5.93% 11.83% 17.13% 23.28% 20.12% 16.26% 15.26%
Other Income 2 5 4 4 10 8 10 7 9 20 30 36 42
Interest 20 27 48 23 23 58 60 55 44 43 39 43 42
Depreciation 12 15 16 18 19 20 22 28 31 35 37 35 36
Profit before tax 22 40 28 88 56 -4 -21 41 119 210 191 201 172
Tax 6 14 10 30 14 0 -8 3 37 54 51 54 44
Net Profit 16 26 18 58 42 -4 -13 39 82 155 140 147 128
EPS 3.81 6.35 4.45 14.32 10.33 0.0 0.0 9.48 20.05 39.06 35.27 31.56
Dividend Payout % 25.17% 15.35% 21.69% 10.29% 14.18% -0.0% -0.0% 15.4% 14.52% 12.8% 17.01% 19.01%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.82%
5 Years:11.65%
3 Years:11.41%
TTM:2.26%
Compounded Profit Growth
10 Years:25.39%
5 Years:%
3 Years:19.12%
TTM:-4.08%
Return on Equity
10 Years:19.24%
5 Years:20.82%
3 Years:19.81%
TTM:14.02%

Balance Sheet Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
40 40 40 40 40 40 40 40 40 40 40 47
Reserves 51 72 86 137 172 167 154 186 254 658 774 1,132
Borrowings 301 301 381 326 354 490 467 450 429 445 487 361
147 131 144 118 256 254 268 365 257 271 283 305
Total Liabilities 539 544 650 621 821 951 929 1,041 979 1,413 1,584 1,845
242 264 282 278 302 312 441 435 487 799 909 836
CWIP 8 9 4 34 27 63 17 20 9 19 6 30
Investments 0 0 0 0 0 0 0 0 0 147 153 213
290 271 363 309 493 576 471 585 482 448 516 765
Total Assets 539 544 650 621 821 951 929 1,041 979 1,413 1,584 1,845

Cash Flows Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
5 46 32 103 36 -14 185 145 158 200 185 114
-19 -39 -30 -43 -46 -66 -106 -25 -73 -201 -137 -16
38 -30 30 -81 12 71 -83 -72 -82 -33 -15 49
Net Cash Flow 23 -22 31 -20 2 -9 -4 48 3 -34 33 148