Visaka Industries Ltd

Visaka Industries is into the business of manufacture of cement fibre sheets, fibre cement boards & panels and synthetic yarn.

Pros:
Stock is trading at 1.18 times its book value
Company has good consistent profit growth of 41.22% over 5 years
Company has been maintaining a healthy dividend payout of 18.53%
Cons:
The company has delivered a poor growth of 4.96% over past five years.
Company has a low return on equity of 13.99% for last 3 years.
Promoters have pledged 31.72% of their holding

Peer Comparison Sector: Cement - Products // Industry: Cement Products

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Quarterly Results Figures in Rs. Crores

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
340 216 219 254 309 201 242 260 346 251 240 300
304 189 197 223 263 168 207 224 292 219 216 266
Operating Profit 36 28 22 31 47 33 34 36 53 32 24 34
OPM % 11% 13% 10% 12% 15% 17% 14% 14% 15% 13% 10% 11%
Other Income 3 1 1 1 2 1 1 1 7 2 1 2
Interest 5 4 5 5 4 4 5 5 5 4 5 5
Depreciation 8 8 9 9 9 9 9 8 9 8 9 9
Profit before tax 26 17 9 17 35 22 22 23 46 21 12 21
Tax % 35% 42% 37% 40% 35% 35% 35% 33% 35% 33% 22% 34%
Net Profit 17 10 6 10 23 14 14 15 30 14 9 14
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
429 577 604 650 750 916 892 1,021 1,005 961 1,012 1,136
386 495 494 566 672 809 835 925 910 843 862 993
Operating Profit 43 83 111 84 78 107 57 96 95 117 150 144
OPM % 10% 14% 18% 13% 10% 12% 6% 9% 9% 12% 15% 13%
Other Income 3 7 6 11 5 2 5 2 3 6 5 12
Interest 17 18 12 10 14 15 21 22 21 20 18 20
Depreciation 16 17 18 16 18 20 22 43 36 34 35 35
Profit before tax 13 55 86 68 51 75 19 33 40 69 102 100
Tax % 42% 35% 34% 34% 33% 32% 36% 36% 39% 38% 35% 33%
Net Profit 8 36 57 45 34 51 12 21 24 43 67 67
EPS in Rs 4.31 21.90 35.09 27.48 20.77 30.84 7.09 12.32 14.33 26.87 41.81 42.34
Dividend Payout % 62% 18% 14% 18% 23% 19% 33% 37% 33% 22% 17% 17%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:7.00%
5 Years:4.96%
3 Years:4.19%
TTM:12.26%
Compounded Profit Growth
10 Years:5.77%
5 Years:41.22%
3 Years:40.30%
TTM:2.15%
Return on Equity
10 Years:12.81%
5 Years:11.51%
3 Years:13.99%
Last Year:14.30%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
16 16 16 16 16 16 16 16 16 16 16 16
Reserves 143 172 220 245 271 310 317 316 331 377 430 484
Borrowings 198 169 162 173 159 277 265 304 321 213 241 246
95 110 129 105 129 137 131 154 152 157 200 183
Total Liabilities 452 466 526 539 574 740 729 791 821 762 887 929
172 198 208 202 244 250 334 312 294 327 322 419
CWIP 37 11 9 8 4 16 21 0 4 12 69 1
Investments 0 2 2 15 15 15 15 15 10 0 0 0
243 256 307 314 311 459 358 464 512 424 497 509
Total Assets 452 466 526 539 574 740 729 791 821 762 887 929

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
33 87 75 27 71 -54 121 8 89 153 88 71
-38 -20 -30 -42 -41 -59 -91 -21 -28 -62 -105 -49
-9 -52 -30 8 -30 93 -38 16 -14 -128 1 -26
Net Cash Flow -13 15 15 -7 0 -20 -7 2 47 -37 -16 -3

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 10% 22% 27% 19% 15% 17% 7% 9% 9% 14% 18% 17%
Debtor Days 46 34 31 39 36 34 40 46 53 57 54 50
Inventory Turnover 4.93 6.28 5.85 4.91 4.94 4.27 3.87 4.67 4.17 4.49 4.62 4.42