Srikalahasthi Pipes Ltd

Srikalahasthi Pipes Limited is engaged in the manufacture and supply of ductile iron (DI) pipe.

Pros:
Company has reduced debt.
Stock is trading at 0.66 times its book value
Stock is providing a good dividend yield of 3.35%.
Promoter's stake has increased
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 11.65% over past five years.
Promoters have pledged 31.47% of their holding

Peer Comparison Sector: Steel // Industry: Steel - Medium / Small

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Quarterly Results Figures in Rs. Crores

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
279 175 292 432 433 362 408 363 315 438 397 409
200 137 221 377 369 296 349 309 289 382 341 358
Operating Profit 80 38 71 56 64 66 59 54 26 56 56 51
OPM % 29% 22% 24% 13% 15% 18% 15% 15% 8% 13% 14% 12%
Other Income 5 16 4 5 6 10 16 12 19 16 9 13
Interest 12 8 12 8 11 15 14 11 14 16 11 7
Depreciation 14 12 9 9 9 9 9 8 9 10 9 9
Profit before tax 59 35 53 44 50 51 53 46 21 46 45 47
Tax % 27% 26% 24% 29% 28% 28% 26% 25% 18% 28% 31% 24%
Net Profit 43 26 40 31 36 37 39 34 17 33 31 36
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 1,559
318 386 556 565 636 722 813 872 897 879 941 1,255 1,370
Operating Profit 51 78 89 126 90 65 51 117 187 267 237 244 188
OPM % 14% 17% 14% 18% 12% 8% 6% 12% 17% 23% 20% 16% 12%
Other Income 2 5 4 4 7 8 10 7 8 20 30 36 57
Interest 20 27 48 23 23 58 60 55 44 42 39 43 48
Depreciation 12 15 16 18 19 20 22 28 31 35 37 35 37
Profit before tax 22 40 28 88 56 -4 -21 41 119 210 191 201 160
Tax % 27% 35% 35% 34% 25% 5% 39% 7% 31% 26% 27% 27%
Net Profit 16 26 18 58 42 -4 -13 39 82 155 140 147 118
EPS in Rs 3.81 6.35 4.45 14.32 10.33 0.00 0.00 9.48 20.05 39.06 35.27 31.56
Dividend Payout % 25% 15% 22% 10% 14% -0% -0% 15% 15% 13% 17% 19%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.45%
5 Years:11.65%
3 Years:11.41%
TTM:-0.46%
Compounded Profit Growth
10 Years:18.26%
5 Years:%
3 Years:19.12%
TTM:-20.26%
Return on Equity
10 Years:18.32%
5 Years:20.42%
3 Years:19.28%
Last Year: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 Mar 2019
40 40 40 40 40 40 40 40 40 40 40 47 47
Reserves 51 72 86 137 172 167 154 186 254 658 774 1,132 1,216
Borrowings 301 301 381 326 354 490 467 450 429 445 487 361 351
147 131 144 118 256 254 268 365 257 271 283 305 571
Total Liabilities 539 544 650 621 821 951 929 1,041 979 1,413 1,584 1,845 2,185
242 264 282 278 302 312 441 435 487 799 909 836 859
CWIP 8 9 4 34 27 63 17 20 9 19 6 30 24
Investments 0 0 0 0 0 0 0 0 0 147 153 213 0
290 271 363 309 493 576 471 585 482 448 516 765 1,302
Total Assets 539 544 650 621 821 951 929 1,041 979 1,413 1,584 1,845 2,185

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
4 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

Ratios

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 12% 17% 16% 22% 15% 8% 6% 14% 23% 27% 19% 16%
Debtor Days 76 69 68 63 69 57 50 55 63 66 44 62
Inventory Turnover 3.73 4.08 4.86 5.32 4.10 2.82 3.28 4.45 5.84 9.04 7.09 7.09