Steel City Securities Ltd

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Pros:

Company is virtually debt free.

Stock is trading at 0.59 times its book value

Stock is providing a good dividend yield of 5.14%.

Company has good consistent profit growth of 21.46% over 5 years

Company has been maintaining a healthy dividend payout of 47.55%

Promoter holding has increased by 1.35% over last quarter.

Cons:

Company has a low return on equity of 12.78% for last 3 years.

Contingent liabilities of Rs.39.69 Cr.

Company has high debtors of 281.71 days.

Peer comparison Sector: Stock/ Commodity Brokers // Industry: Finance & Investments

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Detailed Comparison with:

	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020
	14.70	15.44	13.23	15.41	12.12	11.89	11.56	11.87
	11.83	11.66	11.85	11.51	9.55	9.99	9.10	9.80
Operating Profit	2.87	3.78	1.38	3.90	2.57	1.90	2.46	2.07
OPM %	19.52%	24.48%	10.43%	25.31%	21.20%	15.98%	21.28%	17.44%
	0.48	0.47	0.46	1.30	0.44	0.50	0.76	0.83
Interest	0.01	1.00	-0.99	0.28	0.20	0.01	0.09	0.18
Depreciation	0.23	0.23	0.23	0.24	0.22	0.22	0.20	0.21
Profit before tax	3.11	3.02	2.60	4.68	2.59	2.17	2.93	2.51
Tax %	28.94%	35.76%	33.46%	35.04%	28.96%	37.79%	30.38%	6.37%
Net Profit	2.21	1.94	1.74	3.04	1.83	1.36	2.04	2.36
EPS in Rs	1.46	1.29	1.15	2.01	1.21	0.90	1.35	1.57
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	TTM
	22.79	23.25	21.67	31.64	26.58	35.43	63.62	61.48	47.44
	17.42	16.80	15.30	19.39	19.02	27.01	44.92	46.43	38.44
Operating Profit	5.37	6.45	6.37	12.25	7.56	8.42	18.70	15.05	9.00
OPM %	23.56%	27.74%	29.40%	38.72%	28.44%	23.77%	29.39%	24.48%	18.97%
	0.00	0.00	0.00	0.00	0.08	0.02	0.00	0.00	2.53
Interest	0.99	0.96	0.88	1.37	1.33	0.92	2.12	1.17	0.48
Depreciation	0.90	0.81	0.81	0.86	0.60	0.60	0.86	0.93	0.85
Profit before tax	3.48	4.68	4.68	10.02	5.71	6.92	15.72	12.95	10.20
Tax %	35.06%	32.91%	29.91%	34.53%	31.35%	32.80%	29.52%	33.05%
Net Profit	2.26	3.13	3.28	6.56	3.93	4.65	11.08	8.67	7.59
EPS in Rs	1.83	2.53	2.65	5.30	3.17	3.08	7.33	5.74	5.03
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	37.80%	64.99%	34.09%	43.57%

* Sales is net of excise duty and discounts

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
	12.38	12.38	12.38	12.38	12.38	15.11	15.11	15.11	15.11
Reserves	27.79	30.92	32.82	34.15	36.33	46.77	53.33	57.45	59.87
Borrowings	5.83	13.20	3.42	17.64	4.80	0.04	0.03	0.12	0.07
	23.92	20.02	23.56	21.56	22.29	38.22	55.79	54.78	57.92
Total Liabilities	69.92	76.52	72.18	85.73	75.80	100.14	124.26	127.46	132.97
	5.62	5.31	4.74	3.27	3.15	4.05	4.50	4.14	4.96
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.66	1.03	1.37	2.42	2.85	4.55	4.55	7.08	6.84
	63.64	70.18	66.07	80.04	69.80	91.54	115.21	116.24	121.17
Total Assets	69.92	76.52	72.18	85.73	75.80	100.14	124.26	127.46	132.97

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
	-12.82	-8.53	7.90	-8.83	8.20	8.81	19.90	13.38
	1.53	1.14	1.67	0.48	0.76	10.20	0.50	-0.92
	4.79	6.42	-12.04	8.72	-15.96	-9.04	-4.88	-4.78
Net Cash Flow	-6.50	-0.97	-2.47	0.37	-7.00	9.96	15.51	7.68

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
ROCE %		11.00%	10.58%	20.20%	11.96%	13.58%	27.36%	20.01%
Debtor Days	518.59	608.33	624.56	545.31	606.55	542.19	298.39	281.71
Inventory Turnover

Shareholding pattern is currently not available for this company.