Walchandnagar Industries Ltd

₹ 236 -0.80%

26 Apr 11:55 a.m.

walchand.com BSE: 507410 NSE - BE : WALCHANNAG

About

Walchandnagar Industries Ltd is a Heavy Engineering and Project execution company and has diversified business offerings across core sectors with focus on EPC / Turnkey Projects, Hi Tech Manufacturing, Engineering Products and Engineering Services.
^[1]

Key Points

Business
The Company undertakes projects and supplies machinery and equipment in the field of Nuclear Power, Aerospace, Missile, Defence, Oil & Gas, Steam generation plants, Independent power projects, Turnkey Cement and Sugar plants. ^[1]

Website BSE NSE - BE

Market Cap ₹ 1,086 Cr.
Current Price ₹ 236
High / Low ₹ 269 / 63.2
Stock P/E
Book Value ₹ 52.8
Dividend Yield 0.00 %
ROCE -6.95 %
ROE -44.0 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.

Cons

Stock is trading at 4.51 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -3.28%
The company has delivered a poor sales growth of -4.16% over past five years.
Promoter holding is low: 31.6%
Company has a low return on equity of -32.9% over last 3 years.
Contingent liabilities of Rs.346 Cr.
Promoters have pledged 63.2% of their holding.
Company has high debtors of 210 days.
Company's cost of borrowing seems high

* 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: Capital Goods-Non Electrical Equipment Industry: Engineering

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	100	81	51	71	82	96	65	72	73	112	67	88	56
	92	79	53	64	75	85	69	70	71	146	69	83	64
Operating Profit	8	2	-3	7	6	11	-5	2	2	-34	-2	5	-8
OPM %	8%	3%	-5%	10%	8%	12%	-7%	2%	3%	-30%	-3%	6%	-14%
	10	8	3	17	7	6	5	3	11	108	7	4	7
Interest	20	19	17	18	18	18	12	15	14	13	12	13	13
Depreciation	6	6	6	6	6	5	5	5	5	5	4	4	4
Profit before tax	-8	-15	-22	1	-10	-7	-16	-15	-6	56	-11	-8	-19
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-8	-15	-22	1	-10	-7	-16	-15	-6	56	-11	-8	-19
EPS in Rs	-2.03	-4.07	-5.76	0.22	-2.70	-1.76	-4.26	-3.98	-1.20	12.28	-2.48	-1.77	-4.06
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Profit & Loss

Figures in Rs. Crores

	Sep 2011	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	958	881	727	638	802	398	398	364	298	326	299	322	323
	914	823	749	623	741	350	323	282	263	305	276	356	362
Operating Profit	43	58	-23	16	61	48	76	82	35	20	23	-34	-39
OPM %	5%	7%	-3%	2%	8%	12%	19%	22%	12%	6%	8%	-11%	-12%
	7	8	47	32	-5	4	9	25	10	25	33	128	126
Interest	17	32	42	49	91	70	77	82	88	79	71	55	52
Depreciation	16	18	18	17	34	36	33	27	23	23	22	19	17
Profit before tax	17	17	-36	-19	-69	-54	-26	-2	-65	-57	-38	20	18
Tax %	25%	28%	-7%	33%	-5%	-47%	0%	0%	0%	0%	0%	0%
	13	12	-38	-12	-72	-80	-26	-2	-65	-57	-38	20	18
EPS in Rs	3.36	3.19	-10.06	-3.25	-18.83	-20.89	-6.78	-0.56	-17.19	-15.04	-10.00	4.26	3.97
Dividend Payout %	30%	31%	-4%	-12%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-10%
5 Years:	-4%
3 Years:	3%
TTM:	6%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-35%
TTM:	-100%

Stock Price CAGR
10 Years:	13%
5 Years:	20%
3 Years:	61%
1 Year:	249%

Return on Equity
10 Years:	-14%
5 Years:	-21%
3 Years:	-33%
Last Year:	-44%

Balance Sheet

Figures in Rs. Crores

	Sep 2011	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	8	8	8	8	8	8	8	8	8	8	8	9	9
Reserves	399	393	699	663	554	357	331	328	261	204	169	251	234
	156	207	261	350	405	431	434	454	405	411	448	293	274
	690	646	619	594	432	414	381	377	372	335	309	275	302
Total Liabilities	1,252	1,254	1,586	1,615	1,398	1,209	1,155	1,166	1,046	958	934	828	818
	294	301	638	617	560	390	364	357	346	333	312	285	279
CWIP	44	23	20	4	1	1	2	5	9	4	4	2	1
Investments	19	20	31	25	0	5	3	3	0	0	0	0	0
	895	909	896	969	837	813	786	801	692	622	617	541	538
Total Assets	1,252	1,254	1,586	1,615	1,398	1,209	1,155	1,166	1,046	958	934	828	818

Cash Flows

Figures in Rs. Crores

	Sep 2011	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-42	-16	-38	-38	0	63	50	146	59	71	28	76
	6	-10	27	31	15	-10	3	-49	39	-8	26	8
	32	15	5	41	-37	-66	-55	-78	-121	-64	-54	-85
Net Cash Flow	-4	-11	-6	35	-22	-14	-2	18	-24	-0	0	-1

Ratios

Figures in Rs. Crores

	Sep 2011	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	152	182	210	231	180	330	339	231	243	235	269	210
Inventory Days	203	229	241	394	266	410	384	640	1,030	378	475	279
Days Payable	176	187	249	255	94	186	214	311	383	174	234	170
Cash Conversion Cycle	178	224	201	371	353	554	508	560	891	439	509	319
Working Capital Days	158	148	142	208	169	350	325	195	319	328	373	280
ROCE %	6%	9%	-4%	0%	3%	2%	6%	10%	4%	3%	2%	-7%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	55.00%	40.01%	30.02%	30.02%	30.02%	30.02%	34.94%	34.87%	34.87%	34.87%	34.84%	31.55%
	0.00%	0.00%	0.10%	0.42%	0.35%	0.14%	0.22%	0.22%	0.19%	0.03%	0.33%	0.28%
	0.23%	0.23%	0.23%	0.23%	0.22%	0.22%	0.18%	0.18%	0.18%	0.18%	0.18%	0.23%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%
	44.74%	59.73%	69.62%	69.30%	69.38%	69.59%	64.62%	64.69%	64.73%	64.88%	64.63%	67.91%
No. of Shareholders	59,967	62,826	67,042	64,046	60,935	59,664	56,410	55,550	55,345	57,973	55,725	57,593

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	55.00%	55.00%	55.00%	55.00%	55.00%	30.02%	34.87%	31.55%
	0.00%	0.07%	0.00%	0.00%	0.00%	0.42%	0.22%	0.28%
	5.04%	4.40%	3.38%	0.69%	0.23%	0.23%	0.18%	0.23%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%
	39.93%	40.50%	41.59%	44.28%	44.74%	69.30%	64.69%	67.91%
No. of Shareholders	70,322	61,005	60,898	61,568	60,907	64,046	55,550	57,593

* 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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Walchandnagar Industries Ltd

Walchandnagar Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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