Sunflag Iron & Steel Company Ltd

₹ 212 1.99%

24 Apr 10:52 a.m.

sunflagsteel.com BSE: 500404 NSE : SUNFLAG

About

Sunflag Iron & Steel Company Ltd was established in 1984 & is a part of Sunflag Group, company started operations in 1989 as a spring steel producer however, at present the company manufactures mild-steel and alloy steel products of varieties like carbon steel, free & semi free cutting steels,etc. ^[1]

Key Points

Product Portfolio
The product range of SISCL includes Rolled products, Billet/Bloom, Ingots, Bright Bars, etc. of varied shapes and size ranges. These products are mainly used for manufacturing Automotive Transmission Gears, Drive Shafts, Steering Systems, Bearings, Exhaust Systems, and other Engine Components. ^[1]

Website BSE NSE

Market Cap ₹ 3,830 Cr.
Current Price ₹ 212
High / Low ₹ 249 / 139
Stock P/E 27.4
Book Value ₹ 262
Dividend Yield 0.00 %
ROCE 11.9 %
ROE 8.80 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.79 times its book value
Company's working capital requirements have reduced from 83.1 days to 57.8 days

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 10.2% 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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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	648	555	667	686	696	649	897	886	869	837	784	858	854
	568	457	553	568	609	570	827	723	753	740	704	759	757
Operating Profit	80	98	115	117	88	79	70	162	117	97	80	99	97
OPM %	12%	18%	17%	17%	13%	12%	8%	18%	13%	12%	10%	12%	11%
	3	2	1	1	1	1	1,194	1	3	2	2	1	1
Interest	7	6	6	10	14	12	15	17	22	27	24	23	26
Depreciation	17	19	19	19	19	20	20	20	20	21	26	26	26
Profit before tax	59	75	91	90	56	48	1,229	126	78	50	33	51	47
Tax %	21%	4%	25%	27%	25%	15%	25%	25%	24%	21%	23%	25%	23%
	47	73	68	65	42	41	920	95	59	40	25	38	36
EPS in Rs	2.61	4.02	3.77	3.63	2.35	2.26	51.07	5.26	3.28	2.22	1.40	2.14	1.99
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	1,513	1,521	1,470	1,640	1,524	1,456	2,018	2,186	1,758	1,892	2,698	3,488	3,333
	1,393	1,402	1,323	1,471	1,346	1,311	1,782	1,948	1,588	1,644	2,300	3,043	2,960
Operating Profit	120	118	147	169	178	145	237	238	171	247	398	446	373
OPM %	8%	8%	10%	10%	12%	10%	12%	11%	10%	13%	15%	13%	11%
	5	8	5	5	9	8	17	11	11	11	5	1,200	6
Interest	53	82	73	71	65	35	35	39	41	29	42	81	100
Depreciation	42	56	61	51	36	33	34	38	46	70	76	81	98
Profit before tax	30	-12	18	52	87	85	184	172	94	159	284	1,484	181
Tax %	36%	0%	-18%	53%	34%	23%	30%	36%	2%	16%	24%	25%
	19	-12	22	24	57	65	129	111	93	134	216	1,114	139
EPS in Rs	1.19	-0.77	1.34	1.35	3.15	3.62	7.14	6.14	5.14	7.41	12.01	61.83	7.75
Dividend Payout %	0%	0%	0%	0%	0%	0%	7%	8%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	9%
5 Years:	12%
3 Years:	26%
TTM:	1%

Compounded Profit Growth
10 Years:	35%
5 Years:	12%
3 Years:	34%
TTM:	-38%

Stock Price CAGR
10 Years:	25%
5 Years:	35%
3 Years:	45%
1 Year:	42%

Return on Equity
10 Years:	10%
5 Years:	10%
3 Years:	10%
Last Year:	9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	162	162	162	180	180	180	180	180	180	180	180	180	180
Reserves	332	319	341	403	463	528	657	760	1,206	1,341	1,556	3,148	4,546
	603	501	473	417	246	326	337	348	382	264	582	605	825
	330	375	328	331	353	340	387	475	636	587	754	989	898
Total Liabilities	1,428	1,358	1,304	1,332	1,243	1,374	1,561	1,763	2,404	2,371	3,072	4,923	6,449
	417	605	584	570	542	511	513	535	1,145	1,188	1,250	1,590	1,541
CWIP	236	33	12	3	4	46	108	179	210	150	350	170	239
Investments	8	8	8	8	10	12	12	14	14	14	14	1,722	3,236
	767	712	700	751	687	806	929	1,035	1,035	1,020	1,458	1,441	1,433
Total Assets	1,428	1,358	1,304	1,332	1,243	1,374	1,561	1,763	2,404	2,371	3,072	4,923	6,449

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	72	239	107	78	236	-21	95	177	208	223	43	278
	-162	-54	-6	-4	-13	-28	-92	-142	-126	-60	-335	-219
	108	-184	-103	-71	-213	60	-25	-38	-79	-151	289	-63
Net Cash Flow	18	1	-3	3	10	11	-21	-3	4	12	-3	-4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	36	37	52	42	53	62	55	48	46	41	37	33
Inventory Days	138	124	130	140	129	166	130	147	190	164	186	142
Days Payable	68	91	82	70	64	59	57	71	106	80	102	93
Cash Conversion Cycle	107	70	100	112	118	169	128	124	130	124	122	83
Working Capital Days	82	59	71	74	65	110	91	90	92	92	100	58
ROCE %	8%	7%	9%	13%	16%	12%	20%	17%	9%	11%	16%	12%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%	51.16%
	0.42%	0.34%	0.38%	0.22%	0.43%	0.33%	0.31%	0.88%	0.73%	0.96%	0.93%	0.80%
	0.05%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.04%	0.08%	0.10%
	48.38%	48.46%	48.42%	48.58%	48.37%	48.47%	48.50%	47.92%	48.07%	47.84%	47.83%	47.95%
No. of Shareholders	71,246	70,974	74,491	72,601	66,081	66,555	63,974	61,232	60,136	66,897	67,612	66,392

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	49.06%	49.06%	49.16%	50.57%	51.16%	51.16%	51.16%	51.16%
	0.00%	0.20%	0.22%	0.02%	0.05%	0.22%	0.88%	0.80%
	0.14%	0.36%	0.14%	0.12%	0.04%	0.04%	0.04%	0.10%
	50.80%	50.38%	50.47%	49.29%	48.75%	48.58%	47.92%	47.95%
No. of Shareholders	68,241	57,039	56,767	54,869	62,072	72,601	61,232	66,392

* 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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Sunflag Iron & Steel Company Ltd

Sunflag Iron & Steel Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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