BSE: 500365 | NSE: REMIMETAL | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Welspun Specialty Solutions Ltd is a below average quality company.
The key valuation ratios of Welspun Specialty Solutions Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Welspun Specialty Solutions Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation Index Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.1% | -7.2% | -7.8% | -2.4% | -3.2% | -28.3% | 43.7% | -5.6% | 6.1% | 20.1% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | 2.1 | -1.4 | NA | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 334 | 268 | 233 | 235 | 441 | 295 | 93.4 | 163 | 418 | 697 | 675 |
| Sales YoY Gr. | - | -19.7% | -13.2% | 1% | 87.4% | -33% | -68.4% | 74.8% | 155.9% | 66.7% | - |
| Adj EPS ⓘ | -5.1 | -5.4 | -5.2 | -5.1 | -1.1 | -1.7 | -0.1 | -0.6 | -0.3 | 1 | 0.5 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | -17.3 | -20.8 | -38.7 | -43.4 | -6.4 | -2.4 | 0.7 | 0.1 | -0.2 | 1 | 0.9 |
| Adj Net Profit ⓘ | -58.2 | -62.2 | -60.2 | -58.9 | -40.3 | -88.6 | -2.7 | -33 | -17 | 57.2 | 32 |
| Cash Flow from Ops. ⓘ | -15.3 | 24.9 | 17.7 | -5.3 | -2.4 | -26.8 | 42.8 | -84.3 | 50.1 | 7.5 | - |
| Debt/CF from Ops. ⓘ | -23.8 | 14.4 | 34.4 | -149.9 | -172.1 | -14 | 4 | -2.9 | 4.7 | 34.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.5% | 9.6% | 95.4% | 66.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | 14.1% | NA | ||||
| Share Price | 26% | 33.2% | 26.3% | -5.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 50.4 | 37.9 | 19.3 | 15.3 | 15 | 55.9 | 8.1 | -80.1 | -46.7 | 93.3 | 51.3 |
| Op. Profit Mgn % ⓘ | -2.6 | -4.7 | -6.6 | -4.6 | -8.3 | -24 | -21.1 | -11.3 | 4 | 8 | 4.9 |
| Net Profit Mgn % ⓘ | -17.4 | -23.2 | -25.9 | -25 | -9.1 | -30 | -2.9 | -20.2 | -4.1 | 8.2 | 4.7 |
| Debt to Equity ⓘ | -2.5 | -2 | -1.4 | -1.6 | -1.8 | -3.1 | 4.6 | 5.5 | 7.9 | 2.8 | - |
| Working Cap Days ⓘ | 168 | 172 | 154 | 192 | 154 | 191 | 319 | 243 | 181 | 162 | 109 |
| Cash Conv. Cycle ⓘ | 48 | 58 | 71 | 94 | 62 | 81 | 189 | 137 | 52 | 36 | -20 |
Return on Equity has increased versus last 3 years average to 51.30%
Sales growth is growing at healthy rate in last 3 years 95.37%
Debt to equity has declined versus last 3 years average to 2.79
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.23%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.5 | - |
| TTM Sales (₹ Cr.) | 675 | - |
| BVPS (₹.) ⓘ | 0.9 | - |
| Reserves (₹ Cr.) ⓘ | -271 | - |
| P/BV ⓘ | 37.20 | - |
| PE ⓘ | 68.72 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 28.92 / 55.52 |
| All Time Low / High (₹) | 1.37 / 287.48 |
| Market Cap (₹ Cr.) | 2,201 |
| Equity (₹ Cr.) | 397.6 |
| Face Value (₹) | 6 |
| Industry PE ⓘ | 21.6 |
| Mar'24 | YoY Gr. Rt. % | Jun'24 | YoY Gr. Rt. % | Sep'24 | YoY Gr. Rt. % | Dec'24 | YoY Gr. Rt. % | |
|---|---|---|---|---|---|---|---|---|
| Sales (₹ Cr.)ⓘ | 128 | -15.9 | 119 | -16.5 | 66.3 | -63.1 | 51.9 | -63.7 |
| Adj EPS (₹) ⓘ | -6 | N/A | -4.1 | -207.1 | 7.8 | 690.8 | -7.7 | -230 |
| Op. Profit Mgn % ⓘ | -6.62 | -21 bps | -5.74 | -103 bps | 25.20 | 2226 bps | -24.18 | -1799 bps |
| Net Profit Mgn % ⓘ | -9.29 | -220 bps | -6.76 | -1179 bps | 17.41 | 1635 bps | -29.40 | -3762 bps |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Company Name | CMP(₹) | |||||||
|---|---|---|---|---|---|---|---|---|
| Jindal Saw | 246.2 | 6.6 (2.8%) | Small Cap | 17,962 | 30.2 | 8.1 | 7.9 | 1.3 |
| Welspun Corp | 735.8 | -20.8 (-2.8%) | Small Cap | 9,082 | 21.6 | 4.6 | 35 | 5.2 |
| Motherson Sumi Wirin | 47 | -0.3 (-0.6%) | Small Cap | 8,328 | 1.4 | 7.7 | 33.1 | 11.9 |
| Shyam Metalics&Ener | 712.4 | 1.4 (0.2%) | Small Cap | 6,668 | 17.9 | 5.4 | 39.7 | 3.3 |
| Jayaswal Neco Inds | 31.6 | -1.6 (-4.8%) | Small Cap | 5,934 | 0.1 | 3.7 | 246.1 | 1.4 |
| Maharashtra Seamless | 613.1 | -14.6 (-2.3%) | Small Cap | 5,403 | 57.7 | 17.7 | 10.9 | 1.4 |
| Mukand | 90.5 | -4.4 (-4.6%) | Small Cap | 5,218 | 6.5 | 1.9 | 14.6 | 1.4 |
| Godawari Power & Isp | 156 | -7.5 (-4.6%) | Small Cap | 5,042 | 11.6 | 17.9 | 14.1 | 2.5 |
| Shankara Bldg. Prod | 558.4 | 16.3 (3%) | Small Cap | 4,828 | 30.2 | 1.7 | 18 | 1.6 |
| Ratnamani Metals | 2,440 | 33.6 (1.4%) | Small Cap | 4,807 | 74.4 | 12.3 | 32.4 | 4.9 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 334 | 268 | 233 | 235 | 441 | 295 | 93 | 163 | 418 | 697 |
| Operating Expenses ⓘ | 343 | 281 | 248 | 246 | 478 | 366 | 114 | 182 | 401 | 641 |
| Manufacturing Costs | 94 | 100 | 92 | 90 | 167 | 85 | 29 | 52 | 92 | 131 |
| Material Costs | 224 | 156 | 134 | 135 | 272 | 231 | 59 | 97 | 251 | 439 |
| Employee Cost | 16 | 17 | 16 | 14 | 25 | 34 | 19 | 23 | 33 | 42 |
| Other Costs ⓘ | 9 | 9 | 7 | 7 | 14 | 16 | 7 | 10 | 26 | 30 |
| Operating Profit ⓘ | -9 | -13 | -15 | -11 | -37 | -71 | -21 | -18 | 17 | 56 |
| Operating Profit Margin (%) | -2.7% | -4.8% | -6.6% | -4.6% | -8.5% | -24.1% | -22.1% | -11.3% | 4.0% | 8.0% |
| Other Income ⓘ | 12 | 2 | 6 | 5 | 4 | 5 | 2 | 19 | 15 | 22 |
| Interest ⓘ | 50 | 46 | 45 | 47 | 9 | 15 | 11 | 19 | 30 | 33 |
| Depreciation ⓘ | 12 | 7 | 7 | 7 | 7 | 10 | 14 | 14 | 15 | 15 |
| Exceptional Items ⓘ | 23 | 3 | 3 | 5 | 29 | 11 | 138 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 29 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -34 |
| Profit After Tax | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 62 |
| PAT Margin (%) | -11.0% | -22.4% | -25.1% | -23.2% | -4.6% | -27.6% | 99.8% | -19.9% | -3.3% | 9.0% |
| Adjusted EPS (₹) | -3.2 | -5.2 | -5.1 | -4.7 | -0.6 | -1.6 | 1.7 | -0.6 | -0.2 | 1.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -148 | -180 | -445 | -499 | -235 | -122 | 37 | 44 | 29 | 93 |
| Share Capital ⓘ | 116 | 124 | 65 | 65 | 208 | 293 | 318 | 356 | 356 | 356 |
| Reserves ⓘ | -264 | -304 | -510 | -564 | -443 | -415 | -281 | -312 | -326 | -263 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 359 | 349 | 587 | 763 | 407 | 320 | 166 | 232 | 224 | 250 |
| Long Term Debt | 200 | 291 | 496 | 485 | 258 | 218 | 153 | 232 | 219 | 122 |
| Short Term Debt | 159 | 58 | 91 | 278 | 149 | 102 | 12 | 1 | 5 | 128 |
| Trade Payables | 62 | 56 | 34 | 75 | 126 | 41 | 19 | 68 | 200 | 208 |
| Others Liabilities ⓘ | 20 | 22 | 35 | 242 | 112 | 88 | 77 | 29 | 24 | 2 |
| Total Liabilities ⓘ | 293 | 246 | 210 | 581 | 411 | 328 | 299 | 372 | 477 | 553 |
Fixed Assets | ||||||||||
| Gross Block | 430 | 431 | 431 | 432 | 399 | 525 | 543 | 546 | 550 | 555 |
| Accumulated Depreciation | 307 | 313 | 320 | 327 | 299 | 306 | 319 | 333 | 342 | 357 |
| Net Fixed Assetsⓘ | 123 | 118 | 110 | 105 | 100 | 219 | 224 | 212 | 207 | 198 |
| CWIP ⓘ | 1 | 0 | 0 | 7 | 85 | 12 | 5 | 6 | 1 | 5 |
| Investmentsⓘ | 0 | 0 | 0 | 67 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 45 | 46 | 43 | 65 | 118 | 70 | 53 | 114 | 198 | 269 |
| Trade Receivables | 66 | 65 | 42 | 80 | 71 | 10 | 10 | 15 | 41 | 49 |
| Cash Equivalents | 11 | 4 | 4 | 244 | 11 | 3 | 1 | 6 | 1 | 1 |
| Others Assetsⓘ | 46 | 14 | 11 | 11 | 26 | 14 | 6 | 18 | 28 | 32 |
| Total Assets ⓘ | 293 | 246 | 210 | 581 | 411 | 328 | 299 | 372 | 477 | 553 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -15 | 25 | 18 | -5 | -2 | -27 | 43 | -84 | 50 | 7 |
| PBT ⓘ | -37 | -60 | -61 | -60 | -20 | -81 | 93 | -32 | -14 | 29 |
| Adjustment ⓘ | 30 | 49 | 51 | 55 | 17 | 28 | -101 | 33 | 45 | 48 |
| Changes in Working Capital ⓘ | -9 | 36 | 28 | -1 | 1 | 26 | 50 | -83 | 18 | -69 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | -2 | 1 | 0 |
| Cash Flow From Investing Activity ⓘ | -2 | -1 | 4 | -74 | -18 | -48 | -9 | -5 | -5 | -12 |
| Capex | -2 | -1 | 0 | -11 | -80 | -56 | -12 | -4 | -6 | -13 |
| Net Investments | 0 | 0 | 0 | -66 | 59 | 7 | 3 | -1 | 0 | 0 |
| Others ⓘ | 0 | 0 | 4 | 3 | 3 | 1 | 1 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 14 | -25 | -24 | 320 | -222 | 75 | -34 | 93 | -50 | 5 |
| Net Proceeds from Shares ⓘ | 0 | 28 | 0 | 203 | 105 | 1 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 34 | 95 | 10 | -24 | -256 | 43 | 6 | 114 | -15 | -10 |
| Interest Paid ⓘ | -49 | -47 | -45 | -47 | -27 | -14 | -10 | -12 | -40 | -20 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 29 | -101 | 11 | 187 | -44 | 45 | -30 | -9 | 5 | 34 |
| Net Cash Flow ⓘ | -3 | -1 | -2 | 241 | -243 | 0 | 0 | 5 | -5 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 0 | -150.95 | 0 | 266.11 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 43.68 | -5.55 | 6.06 | 20.11 |
| Asset Turnover Ratio | 1.12 | 1.11 | 1.15 | 0.61 | 0.89 | 0.8 | 0.3 | 0.49 | 0.98 | 1.35 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | 0.46 | N/A | N/A | 0.11 |
| Working Capital Days | ||||||||||
| Receivable Days | 87 | 80 | 74 | 92 | 63 | 50 | 40 | 28 | 25 | 24 |
| Inventory Days | 52 | 55 | 62 | 82 | 76 | 116 | 241 | 188 | 137 | 122 |
| Payable Days | 141 | 138 | 123 | 147 | 134 | 132 | 185 | 162 | 195 | 170 |
Remi Metals Gujarat (RMGL) started in 1960 when Chiranjilal Saraf started manufacturing fractional H P motors & laboratory stirrers under the name of Rajendra Electric Motor Industries.
Remi Metals Gujarat Limited, a Rs 360 crore flagship company of the Remi group is the most ambitious project so far. RMGL is an Integrated Steel (capacity 140,000 TPA) & Seamless Pipe Plant (capacity 50,000 TPA) set up in Jhagadia near Bharuch in Gujarat.
RMGL is an Electric Arc Furnace based integrated steel and seamless pipe plant. RMGL has both Ingot (minimum weight 3T) as well as CC Bloom ( maximum bloom size 300 mm sq.) casting routes of steel making.
RMGL has a Seamless Pipe / Tubes plant to maufacture 50,000 TPA of Carbon Alloy Steel Seamless Pipes / Tubesin hte size range of 1'' to 6 5/8'' in technical collaboration with M/s Intertech GmbH International Technical Assistance, (INTERTECH), Germany. The Company has also in-house Steel manufacturing and rolling capacity of 1,40,000 TPA.
RMGL is located in Gujarat on a 150 acres (60 hectares) plot near village Fulwadi, Taluka Jhagadia, District Bharuch which is 23 km from Ankleshwar, 85 kms from Dahej where a full fledged all weather port is being developed and 85 kms from Essar's Sponge Iron Plant and Hazira.
Power supply is from Jhagadia sub-station by aying a separate Industrial feeder. The project is ideally located as regards proximity to the source of raw materials, water, power, ptransport arrangements and other amenities. Also a gas line is passing just near the project site, from which gas connection wcould be obtained in future, subject to availability of gas.
Different divisions of the company:
Mannesman Demag Huttentechnik, Germany and its Indian counterpart Indomag Steel Technology, world leaders in steel making and seamless pipe technology have designed the key process equipments. Advance steel making technology through 35 MT, Ultra High Power Eccentric Bottom Tapping Arc Furnace, Refining in LRF (Landle Refining Furnace) and Degassing in VD/VOD has been inducted from MDH.The Rolling Mill also designed and manufactured by Mannesmann Demag can provide high reduction ratios in single heating.
Products portfolio of the company include:
Steel Products:
Tube Products:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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