Sterling Tools Ltd

About [ edit ]

Sterling Tools is engaged in the manufacturing and marketing of high tensile cold forged fasteners.

Key Points [ edit ]
  • Market Cap 677 Cr.
  • Current Price 188
  • High / Low 233 / 105
  • Stock P/E 26.6
  • Book Value 86.5
  • Dividend Yield 1.06 %
  • ROCE 11.0 %
  • ROE 10.4 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 18.54%

Cons

  • The company has delivered a poor sales growth of 1.38% over past five years.
  • Tax rate seems low
  • Contingent liabilities of Rs.217.50 Cr.
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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
131 131 139 123 118 104 89 85 86 20 95 111
111 106 113 105 102 86 75 71 72 25 73 88
Operating Profit 21 25 27 18 16 19 15 14 14 -5 23 23
OPM % 16% 19% 19% 14% 14% 18% 16% 16% 17% -24% 24% 21%
Other Income 2 2 2 1 2 1 2 1 -2 1 1 1
Interest 1 1 1 1 2 1 1 2 2 2 2 2
Depreciation 4 5 5 5 5 5 6 6 7 6 7 7
Profit before tax 17 22 23 13 11 13 10 7 4 -11 15 16
Tax % 30% 36% 34% 38% 35% 33% 25% 31% -108% 23% 25% 24%
Net Profit 12 14 15 8 7 9 7 5 8 -9 12 12
EPS in Rs 3.28 3.89 4.22 2.30 2.04 2.43 2.00 1.37 2.27 -2.43 3.20 3.38

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
148 178 246 295 282 301 340 369 371 453 512 364 312
133 148 210 259 248 261 294 308 295 362 426 304 257
Operating Profit 15 30 36 36 34 41 46 61 76 91 86 61 55
OPM % 10% 17% 15% 12% 12% 13% 14% 17% 20% 20% 17% 17% 18%
Other Income 1 0 1 2 2 2 2 2 7 6 6 4 2
Interest 7 6 7 10 10 8 7 6 6 4 4 6 7
Depreciation 6 6 6 8 9 10 12 13 17 18 19 24 26
Profit before tax 3 19 24 20 17 24 29 43 60 75 70 34 24
Tax % 42% 38% 33% 27% 37% 35% 26% 35% 35% 35% 36% 14%
Net Profit 2 12 16 15 11 16 21 28 39 49 45 29 23
EPS in Rs 0.50 3.39 4.64 4.32 3.18 4.57 6.20 8.31 11.46 13.51 12.45 8.06 6.42
Dividend Payout % 40% 30% 22% 23% 31% 22% 16% 36% 17% 15% 16% 25%
Compounded Sales Growth
10 Years:7%
5 Years:1%
3 Years:-1%
TTM:-21%
Compounded Profit Growth
10 Years:10%
5 Years:8%
3 Years:-5%
TTM:-10%
Stock Price CAGR
10 Years:23%
5 Years:13%
3 Years:-22%
1 Year:56%
Return on Equity
10 Years:18%
5 Years:18%
3 Years:16%
Last Year:10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
7 7 7 7 7 7 7 7 7 7 7 7 7
Reserves 45 53 64 75 82 94 110 127 157 241 277 302 304
Borrowings 52 56 77 93 88 65 72 69 40 34 99 75 81
24 25 36 39 33 41 46 47 67 72 78 62 81
Total Liabilities 128 141 185 214 210 207 236 250 271 355 462 445 473
78 77 87 101 107 109 130 138 155 149 182 253 251
CWIP 0 0 0 1 0 3 0 1 0 10 47 1 0
Investments 0 0 2 4 4 5 6 6 18 72 72 34 34
49 63 95 108 99 90 100 105 98 124 161 158 188
Total Assets 128 141 185 214 210 207 236 250 271 355 462 445 473

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
25 9 11 18 38 49 28 56 62 48 42 52
-8 -4 -18 -24 -12 -17 -30 -25 -27 -76 -92 -3
-19 -4 13 4 -23 -33 -4 -21 -42 26 52 -42
Net Cash Flow -1 0 6 -2 3 -2 -5 9 -8 -1 3 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 22% 23% 19% 15% 19% 20% 26% 30% 31% 22% 11%
Debtor Days 74 64 59 50 48 42 42 36 34 37 29 28
Inventory Turnover 4.99 5.05 4.36 3.68 3.50 4.05 4.51 4.21 3.71 4.05 3.57 2.33

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
65.32 65.32 65.32 65.30 65.34 65.77 65.77 65.77 65.77 65.77 65.77 65.77
0.02 0.00 0.00 0.00 0.00 0.00 0.05 0.00 0.00 0.00 0.00 0.00
6.05 6.66 7.58 8.06 8.15 7.79 7.97 8.07 8.16 8.15 8.15 8.00
28.61 28.02 27.10 26.64 26.51 26.44 26.21 26.16 26.07 26.08 26.08 26.23

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