Visa Steel Ltd

Visa Steel Ltd

₹ 20.1 -4.96%
19 Feb - close price
About

Incorporated in 1996, VISA Steel Ltd does manufacturing of High Carbon Ferro Chrome[1]

Key Points

Operational Status:[1]
Company is operating the Ferro Chrome Plant under conversion arrangement to continue as a going concern and due to non availability of funds for working capital and major refurbishment and relining of Furnaces. It is taking support of related parties and operational creditors to continue Plant operations under conversion arrangement

  • Market Cap 233 Cr.
  • Current Price 20.1
  • High / Low 22.3 / 9.80
  • Stock P/E
  • Book Value -70.0
  • Dividend Yield 0.00 %
  • ROCE -7.45 %
  • ROE %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -20.5% over past five years.
  • Contingent liabilities of Rs.542 Cr.
  • Promoters have pledged 79.4% of their holding.
  • Promoter holding has decreased over last 3 years: -10.6%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
285 348 252 260 266 310 197 193 160 107 235 189 90
291 327 256 266 257 293 195 187 157 109 230 195 94
Operating Profit -6 21 -5 -7 9 17 1 6 4 -2 5 -6 -5
OPM % -2% 6% -2% -3% 3% 6% 1% 3% 2% -2% 2% -3% -5%
3 -1,056 1 3 0 0 0 0 1,748 1 0 0 0
Interest 4 5 5 5 5 5 6 6 6 7 8 7 7
Depreciation 32 32 24 19 22 21 21 22 18 12 12 12 13
Profit before tax -40 -1,071 -32 -28 -18 -9 -25 -21 1,727 -20 -14 -25 -24
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-40 -1,071 -32 -28 -18 -9 -25 -21 1,727 -20 -14 -25 -24
EPS in Rs -3.44 -92.53 -2.78 -2.42 -1.53 -0.81 -2.20 -1.85 149.19 -1.76 -1.21 -2.13 -2.10
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,366 1,025 1,455 1,280 1,303 1,559 2,067 1,414 683 988 1,118 657 621
1,286 1,051 1,344 1,264 1,322 1,501 2,027 1,440 733 984 1,101 649 628
Operating Profit 80 -26 111 16 -19 58 40 -26 -50 4 18 9 -7
OPM % 6% -3% 8% 1% -1% 4% 2% -2% -7% 0% 2% 1% -1%
-35 156 -24 -7 18 18 55 16 12 -1,056 1 1,750 2
Interest 190 168 163 229 485 47 34 19 20 17 21 25 30
Depreciation 51 65 75 77 146 163 151 133 134 128 85 73 48
Profit before tax -197 -104 -150 -297 -632 -133 -90 -162 -192 -1,197 -87 1,660 -83
Tax % 40% -7% 4% -2% -4% 0% 0% 0% 0% 0% 0% 0%
-119 -111 -144 -303 -659 -133 -90 -162 -192 -1,197 -87 1,660 -83
EPS in Rs -10.81 -9.78 -13.44 -24.81 -57.64 -12.29 -7.56 -13.96 -16.57 -103.40 -7.53 143.39 -7.20
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -4%
5 Years: -20%
3 Years: -1%
TTM: -28%
Compounded Profit Growth
10 Years: 5%
5 Years: 0%
3 Years: 16%
TTM: -9%
Stock Price CAGR
10 Years: 2%
5 Years: 24%
3 Years: 50%
1 Year: 60%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 110 110 110 110 110 110 116 116 116 116 116 116 116
Reserves 128 111 -37 -315 -976 -725 -909 -1,071 -1,264 -2,462 -2,549 -888 -926
1,623 2,357 2,799 3,358 3,836 3,885 3,629 3,517 3,479 3,486 3,481 1,394 1,393
1,560 861 1,112 803 822 858 717 738 734 712 720 445 472
Total Liabilities 3,421 3,439 3,985 3,956 3,793 4,128 3,553 3,300 3,065 1,853 1,767 1,068 1,054
782 1,136 1,172 3,036 2,895 3,142 2,933 2,804 2,679 1,704 1,625 960 936
CWIP 1,893 1,811 2,033 351 350 306 299 297 290 39 39 39 39
Investments 0 0 0 0 1 1 4 4 4 4 4 4 4
745 492 780 569 547 678 316 194 92 106 99 65 75
Total Assets 3,421 3,439 3,985 3,956 3,793 4,128 3,553 3,300 3,065 1,853 1,767 1,068 1,054

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
542 -558 126 -216 -333 12 151 82 59 13 17 26
-640 10 -149 -26 7 -4 3 16 11 1 -9 -19
81 550 84 157 328 4 -153 -113 -64 -14 -9 -8
Net Cash Flow -16 1 61 -85 3 12 1 -16 6 1 -0 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 14 22 23 17 48 33 12 9 5 0 0 0
Inventory Days 113 61 100 100 69 107 29 35 24 20 15 8
Days Payable 299 147 180 117 80 85 30 39 86 50 32 46
Cash Conversion Cycle -173 -64 -57 -0 37 55 12 5 -57 -30 -17 -38
Working Capital Days -356 -136 -122 -138 -219 -258 -311 -581 -1,468 -226 -205 -225
ROCE % 3% -3% 2% -1% -5% -3% -2% -5% -7% -7% -6% -7%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
58.88% 58.88% 58.88% 58.88% 38.33% 38.33% 38.33% 43.33% 43.33% 43.33% 48.27% 48.27%
21.95% 21.95% 21.95% 21.95% 21.95% 21.95% 21.95% 21.95% 21.95% 21.95% 17.42% 17.42%
19.17% 19.17% 19.17% 19.17% 39.72% 39.72% 39.72% 34.72% 34.73% 34.71% 34.32% 34.32%
No. of Shareholders 17,00417,59618,11619,10020,20021,74421,79722,68822,36521,98521,32420,438

* 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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