Srikalahasthi Pipes Ltd(Merged)

Srikalahas. Pip. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Srikalahasthi Pipes Ltd(Merged)

₹ 201 -0.17%
12 Jan 2022
srikalahasthipipes.com NSE: SRIPIPES
About

Srikalahasti Pipes Ltd is one of the leading players in the DI pipe industry in India and was established in 1991. Its key products include DI Pipes, Pig Iron, Coke & and Cement. Srikalahasti Pipes has a backward integrated manufacturing facility which includes a sinter plant, coke oven plant, power plant and a Sewage Treatment facilities in the same complex spread over 330 acres. Some of its marquee clients are Larsen & Toubro, NCC Limited, Indian Hume Pipes Ltd. [1]

Key Points

Market Share
SPL is one of the top players in the DI pipe industry in India, and commands around 13% market share across India and around 70% in South.
Together with the Electrosteel group commands around 40% market share of the Indian DI Pipes Market. [1]

Website NSE
  • Market Cap ₹ 938 Cr.
  • Current Price ₹ 201
  • High / Low ₹ /
  • Stock P/E 5.66
  • Book Value ₹ 329
  • Dividend Yield 0.00 %
  • ROCE 10.0 %
  • ROE 7.00 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.61 times its book value
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 22.8%
  • Debtor days have improved from 81.8 to 54.8 days.
  • Company's working capital requirements have reduced from 105 days to 62.6 days

Cons

  • The company has delivered a poor sales growth of 5.57% over past five years.
  • Company has a low return on equity of 10.1% 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: Steel Industry: Steel - Medium / Small

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
438 397 409 361 457 446 398 204 397 427 475 437 439
382 341 358 304 395 373 331 206 355 351 410 369 378
Operating Profit 56 56 51 57 63 73 67 -2 42 76 65 68 61
OPM % 13% 14% 12% 16% 14% 16% 17% -1% 11% 18% 14% 16% 14%
16 9 13 12 17 14 21 15 16 14 10 9 9
Interest 16 11 7 9 13 12 14 13 12 12 9 8 8
Depreciation 10 9 9 10 10 10 10 11 12 12 12 12 13
Profit before tax 46 45 47 50 57 65 64 -10 34 67 55 57 48
Tax % 28% 31% 24% 34% 37% -4% 21% -24% 28% 30% 27% 24% 26%
33 31 36 33 36 68 51 -8 25 47 40 43 36
EPS in Rs 7.12 6.67 7.67 7.15 7.69 14.49 10.86 -1.69 5.35 10.02 8.52 9.25 7.67
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Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
691 726 787 864 989 1,084 1,146 1,178 1,587 1,559 1,663 1,503 1,778
565 636 722 813 872 897 879 941 1,345 1,372 1,403 1,322 1,508
Operating Profit 126 90 65 51 117 187 267 237 242 187 260 181 270
OPM % 18% 12% 8% 6% 12% 17% 23% 20% 15% 12% 16% 12% 15%
4 7 8 10 7 7 20 30 37 51 64 56 43
Interest 23 23 58 60 55 44 42 39 43 40 46 46 37
Depreciation 18 19 20 22 28 31 35 37 35 37 41 46 48
Profit before tax 88 56 -4 -21 41 119 210 191 201 160 237 145 227
Tax % 34% 25% -5% -39% 7% 31% 26% 27% 27% 27% 21% 29%
58 42 -4 -13 39 82 155 140 147 118 188 104 166
EPS in Rs 14.56 10.56 -0.99 -3.29 9.72 20.65 39.03 35.23 31.56 25.17 40.19 22.19 35.46
Dividend Payout % 10% 14% -0% -0% 15% 15% 13% 17% 19% 24% 17% 27%
Compounded Sales Growth
10 Years: 8%
5 Years: 6%
3 Years: -2%
TTM: 23%
Compounded Profit Growth
10 Years: 9%
5 Years: -8%
3 Years: -10%
TTM: 22%
Stock Price CAGR
10 Years: 11%
5 Years: 5%
3 Years: -1%
1 Year: %
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 10%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
Equity Capital 40 40 40 40 40 40 40 40 47 47 47 47 47
Reserves 137 172 167 154 186 254 658 774 1,132 1,216 1,369 1,440 1,491
326 354 490 467 450 429 445 487 442 385 553 300 448
114 253 244 245 342 249 239 256 275 537 410 534 612
Total Liabilities 617 819 941 906 1,018 971 1,381 1,557 1,896 2,185 2,379 2,322 2,598
278 302 312 441 435 487 799 909 836 859 927 926 1,064
CWIP 34 27 63 17 20 9 19 6 30 24 40 172 63
Investments -0 -0 -0 -0 -0 -0 147 153 213 -0 -0 157 10
305 490 566 447 563 475 415 489 816 1,302 1,411 1,067 1,461
Total Assets 617 819 941 906 1,018 971 1,381 1,557 1,896 2,185 2,379 2,322 2,598

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
103 36 -14 185 145 158 200 185 114 239 -125 549
-43 -46 -66 -106 -25 -73 -201 -137 -16 -53 -190 -107
-81 12 71 -83 -72 -82 -33 -15 49 -131 65 -334
Net Cash Flow -20 2 -9 -4 48 3 -34 33 148 55 -249 108

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 63 69 57 50 55 63 66 44 77 72 119 55
Inventory Days 111 201 222 129 148 82 85 142 87 147 142 140
Days Payable 57 109 85 65 122 63 37 57 36 132 90 133
Cash Conversion Cycle 117 162 194 115 80 82 114 129 128 86 171 62
Working Capital Days 111 97 136 80 55 65 74 81 101 95 157 63
ROCE % 22% 15% 8% 6% 14% 23% 27% 19% 16% 12% 16% 10%

Shareholding Pattern

Numbers in percentages

Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021
44.00% 47.67% 47.83% 47.83% 48.11% 48.15% 48.15% 48.15% 48.15% 48.15% 48.15% 48.15%
4.37% 0.95% 1.77% 2.42% 2.69% 5.00% 7.93% 8.88% 12.60% 17.85% 17.86% 18.37%
15.06% 14.94% 12.60% 11.73% 11.45% 10.82% 10.98% 8.64% 4.56% 4.45% 3.56% 3.61%
0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52% 0.52%
36.05% 35.92% 37.27% 37.49% 37.23% 35.51% 32.42% 33.81% 34.17% 29.04% 29.91% 29.35%
No. of Shareholders 33,79031,76731,48331,20430,65232,77433,21137,80637,39535,69036,94336,544

* 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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Documents

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Annual reports

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Concalls

  • Nov 2021
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  • Jun 2020
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  • Feb 2018
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  • Nov 2017
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  • Mar 2017
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  • Jul 2016
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  • Mar 2016
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