Steel Exchange India Ltd

About [ edit ]

STEEL EXCHANGE INDIA LTD has been established in the field of iron and steel manufacturing and is the AP's largest private integrated steel plant. The company aims to grow as a quality steel product hub, increasing the customer base and clientele organizations.

  • Market Cap 501 Cr.
  • Current Price 62.4
  • High / Low 69.0 / 11.5
  • Stock P/E 5.75
  • Book Value 21.6
  • Dividend Yield 0.00 %
  • ROCE 4.75 %
  • ROE 61.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 21.67% CAGR over last 5 years

Cons

  • Stock is trading at 2.88 times its book value
  • Promoter holding has decreased over last quarter: -2.60%
  • The company has delivered a poor sales growth of -12.95% over past five years.
  • Company has a low return on equity of -18.88% for last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 33.40% of their holding.
  • Earnings include an other income of Rs.61.86 Cr.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
335 253 232 291 248 224 173 201 182 92 210 269
356 228 225 264 290 193 159 181 177 92 188 219
Operating Profit -21 25 7 27 -42 31 14 21 5 -0 22 50
OPM % -6% 10% 3% 9% -17% 14% 8% 10% 3% -0% 10% 19%
Other Income -44 0 2 0 3 0 1 0 -3 7 2 55
Interest 3 0 0 0 9 0 0 1 2 0 0 7
Depreciation 7 7 7 7 8 7 7 7 7 6 6 6
Profit before tax -75 18 2 19 -56 24 8 13 -6 1 18 92
Tax % 59% 0% 0% 0% -35% 0% 0% 0% 393% 0% 0% 0%
Net Profit -30 18 2 19 -76 24 8 13 19 1 18 92
EPS in Rs -4.01 2.32 0.24 2.56 -9.95 3.18 1.09 1.72 2.46 0.11 2.33 12.15

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Jun 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
680 692 1,149 1,687 979 1,252 1,562 1,658 1,271 922 1,024 781 754
659 664 1,067 1,539 883 1,124 1,387 1,506 1,197 933 1,000 710 676
Operating Profit 21 27 82 148 96 127 175 152 74 -11 24 71 77
OPM % 3% 4% 7% 9% 10% 10% 11% 9% 6% -1% 2% 9% 10%
Other Income 15 19 4 14 20 7 12 11 -46 -39 -1 -1 62
Interest 25 32 48 108 63 80 128 123 157 136 10 3 9
Depreciation 3 3 11 17 12 15 25 27 30 29 30 27 25
Profit before tax 8 12 27 38 40 39 35 14 -159 -215 -17 39 104
Tax % 40% 58% 38% 29% -32% 8% 18% 46% 1% 21% -114% -64%
Net Profit 5 5 17 27 53 36 28 7 -157 -170 -37 64 130
EPS in Rs 1.46 1.26 3.97 5.17 10.26 6.90 5.48 1.42 -20.68 -22.39 -4.83 8.46 17.05
Dividend Payout % 69% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:1%
5 Years:-13%
3 Years:-15%
TTM:-11%
Compounded Profit Growth
10 Years:34%
5 Years:22%
3 Years:40%
TTM:390%
Stock Price CAGR
10 Years:%
5 Years:11%
3 Years:31%
1 Year:399%
Return on Equity
10 Years:%
5 Years:-16%
3 Years:-19%
Last Year:61%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Jun 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
33 40 43 52 52 52 52 95 76 76 76 76 76
Reserves 73 92 118 171 224 260 281 288 222 52 15 80 98
Borrowings 162 235 340 424 421 399 713 673 982 1,069 1,021 1,014 732
215 213 354 530 520 630 817 830 436 337 315 217 444
Total Liabilities 482 579 854 1,177 1,217 1,342 1,863 1,868 1,716 1,533 1,428 1,387 1,350
51 133 183 328 325 350 614 591 695 717 691 666 652
CWIP 31 18 10 2 4 9 46 53 54 5 4 4 5
Investments 0 0 17 35 35 35 0 0 0 0 0 0 0
399 428 645 812 854 948 1,202 1,223 966 811 732 717 692
Total Assets 482 579 854 1,177 1,217 1,342 1,863 1,868 1,716 1,533 1,428 1,387 1,350

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Jun 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-68 28 -57 201 77 147 91 166 -149 50 60 37
-28 -71 -71 -186 -10 -46 -34 -9 -6 -2 -3 -2
100 52 107 -18 -66 -102 -49 -163 151 -49 -58 -10
Net Cash Flow 3 9 -21 -4 1 -1 8 -5 -4 -0 -1 25

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Jun 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 13% 17% 25% 17% 18% 13% 4% -3% -0% 5%
Debtor Days 59 49 54 57 97 62 72 59 62 39 14 18
Inventory Turnover 6.10 5.50 5.91 4.93 2.07 2.01 1.97 1.62 1.31 1.45 1.05

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
47.58 47.58 47.58 47.58 47.58 47.58 47.58 47.58 47.58 47.58 47.58 47.58
5.12 4.48 4.32 4.31 4.01 4.01 4.02 4.25 4.04 4.03 4.02 4.02
0.41 0.41 0.41 0.41 0.41 0.41 0.41 0.41 0.41 0.41 0.41 0.41
46.89 47.53 47.69 47.70 47.99 47.99 47.99 47.76 47.97 47.98 47.99 47.99

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