Surani Steel Tubes Ltd

Surani Steel Tubes Ltd

₹ 424 3.30%
24 Apr 11:23 a.m.
About

Incorporated in 2012, Surani Steels Tubes Ltd does manufacturing and supplying of Mild Steel Pipes, Mild Steel Hollow Section, Mild Steel Coils, etc.[1]

Key Points

Product Profile:[1]
a) ERW Mild Steel Pipes:
ERW Black Steel Pipes, ERW Steel Pipes, Mild Steel ERW Pipes, Electric Resistance Welded Pipe
b) Mild Steel Tubes:
Mild Steel Square Tubes, MS Rectangular Tubes, Mild Steel Round Tubes
c) Mild Steel Coils:
Hot Rolled MS Coils, Mild Steel Coils, Mild Steel Coil
d) Mild Steel Pipes:
MS Structural Pipes, Mild Steel Seamless Pipe, Mild Steel Square Pipe, Mild Steel Round Pipes
e) ERW Mild Steel Tubes:
Electric Resistance Welded Tubes, ERW Round Steel Tubes, ERW MS Tubes
f) Mild Steel Hollow Section:
Mild Steel Square Hollow Section, Mild Steel Rectangular Hollow Section

  • Market Cap 431 Cr.
  • Current Price 424
  • High / Low 735 / 111
  • Stock P/E 266
  • Book Value 85.1
  • Dividend Yield 0.00 %
  • ROCE -1.36 %
  • ROE -8.07 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.98 times its book value
  • Promoter holding has decreased over last quarter: -1.36%
  • The company has delivered a poor sales growth of 4.17% over past five years.
  • Company has a low return on equity of 5.60% over last 3 years.
  • Debtor days have increased from 25.7 to 39.3 days.

* 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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Half Yearly Results

Figures in Rs. Crores

Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023
51 47 43 64 70 67 59 65 65
54 45 42 58 67 65 63 61 66
Operating Profit -3 2 1 6 3 1 -4 4 -1
OPM % -6% 4% 2% 10% 5% 2% -6% 6% -2%
0 0 0 0 0 0 0 0 0
Interest 1 1 1 1 1 1 1 1 0
Depreciation 1 1 1 1 1 1 1 0 0
Profit before tax -5 0 -1 5 2 0 -5 3 -1
Tax % -9% -106% -13% 2% 1% 50% 2% 12% -9%
-5 0 -1 4 2 0 -5 3 -1
EPS in Rs -6.40 0.42 -0.72 5.43 2.22 0.02 -5.67 3.51 -1.45
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
0 36 58 68 77 101 93 98 107 137 124 129
0 34 56 65 73 97 92 99 99 132 123 126
Operating Profit -0 1 2 3 4 4 1 -2 7 5 0 3
OPM % 4% 3% 5% 5% 4% 1% -2% 7% 3% 0% 2%
0 0 0 0 0 0 0 0 0 0 0 0
Interest 0 1 1 1 1 1 1 2 2 2 1 1
Depreciation 0 0 0 1 0 0 0 1 1 1 1 0
Profit before tax -0 0 0 1 2 3 -0 -5 4 2 -2 2
Tax % 0% 100% 37% 3% 43% 36% -18% -6% 3% 2% -20%
-0 0 0 1 1 2 -0 -5 4 2 -2 2
EPS in Rs -0.16 0.00 0.64 5.72 4.00 3.03 -0.17 -5.99 4.70 2.23 -2.16 2.06
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 4%
3 Years: 8%
TTM: 3%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 17%
TTM: 135%
Stock Price CAGR
10 Years: %
5 Years: 50%
3 Years: 183%
1 Year: 288%
Return on Equity
10 Years: 2%
5 Years: -1%
3 Years: 6%
Last Year: -8%

Balance Sheet

Figures in Rs. Crores

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 2 2 2 2 2 6 8 8 8 8 8 9
Reserves -0 -0 0 2 2 5 16 11 14 16 14 67
3 11 10 12 13 15 17 20 18 15 11 0
0 2 3 7 10 9 4 9 5 12 7 1
Total Liabilities 5 16 16 23 28 36 45 48 45 51 41 77
0 5 5 5 5 4 4 15 13 12 5 8
CWIP 5 0 0 0 2 6 11 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
1 10 11 18 21 25 30 33 32 39 37 68
Total Assets 5 16 16 23 28 36 45 48 45 51 41 77

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 2 -0 2 -1 -8 -0 2 5 -2
0 -0 -1 -2 -4 -5 -1 -0 0 7
0 -2 0 -0 5 13 1 -2 -5 -5
Net Cash Flow 0 0 -0 -0 -0 0 0 -0 -0 0

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 43 30 30 38 22 24 22 24 13 39
Inventory Days 57 35 63 60 66 82 88 83 77 53
Days Payable 19 14 32 44 30 14 31 12 17 17
Cash Conversion Cycle 82 51 61 54 58 93 79 95 72 76
Working Capital Days 77 43 54 47 52 94 85 95 74 86
ROCE % 12% 12% 19% 18% 17% 2% -7% 15% 9% -1%

Shareholding Pattern

Numbers in percentages

Mar 2019Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Dec 2023Mar 2024
33.97% 33.97% 33.97% 33.97% 33.97% 33.97% 33.97% 33.97% 33.97% 53.75% 51.72% 44.93%
66.03% 66.04% 66.03% 66.03% 66.03% 66.03% 66.03% 66.03% 66.03% 46.25% 48.28% 55.07%
No. of Shareholders 387384373374373374387394364258321587

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