BSE: 530609 | NSE: | Castings/Forgings | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Carnation Industries Ltd is a average quality company.
The key valuation ratios of Carnation Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Carnation Industries 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.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 17.8% | 16.7% | 16.1% | 10.3% | -5.3% | -9.1% | 8.4% | -32.9% | 32.1% | 0% | - |
| Value Creation Index ⓘ | 0.3 | 0.2 | 0.2 | -0.3 | -1.4 | -1.7 | -0.4 | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 97.2 | 96.6 | 98.4 | 81.7 | 50.1 | 6.9 | 7.6 | 0 | 0 | 0 | 0 |
| Sales YoY Gr. | - | -0.6% | 1.9% | -17% | -38.7% | -86.2% | 9.7% | -100% | NA | NA | - |
| Adj EPS ⓘ | 5 | -0.6 | 4.8 | 1.6 | -18.4 | -18 | -35 | -6 | -2.2 | -2.7 | -1.4 |
| YoY Gr. | - | -111.3% | NA | -66.3% | -1251.3% | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 43.7 | 47.1 | 53 | 53.7 | 34.4 | 21.2 | 21.4 | -1.3 | -3.5 | -7 | -8.4 |
| Adj Net Profit ⓘ | 1.7 | -0.2 | 1.6 | 0.6 | -6.4 | -6.2 | -12.1 | -2.1 | -0.8 | -0.9 | 0 |
| Cash Flow from Ops. ⓘ | 5.9 | 5.8 | 2.9 | 8.5 | 5.4 | 4.9 | 4.6 | -3.8 | -7.8 | 0 | - |
| Debt/CF from Ops. ⓘ | 5.7 | 6 | 12.5 | 4 | 6 | 5.6 | 0.3 | -0.4 | -0.2 | -42.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -100% | -100% | -100% | NA | ||||
| Adj EPS ⓘ | -193.4% | NA | NA | NA | ||||
| BVPSⓘ | -181.6% | -172.7% | -168.9% | NA | ||||
| Share Price | -5% | 19.8% | 37.5% | 52.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 12.2 | -1.2 | 9.5 | 3 | -41.8 | -64.9 | -164.2 | -59.6 | 91.7 | 51.3 | 18.6 |
| Op. Profit Mgn % ⓘ | 9.3 | 7.6 | 8.9 | 4.3 | -9.4 | -72.6 | -205.1 | 0 | 0 | 0 | NAN |
| Net Profit Mgn % ⓘ | 1.8 | -0.2 | 1.7 | 0.7 | -12.7 | -90.1 | -159.2 | 0 | 0 | 0 | -INF |
| Debt to Equity ⓘ | 2.2 | 2.1 | 2 | 1.8 | 2.7 | 3.8 | 0.2 | -3.4 | -1.3 | -0.7 | 0 |
| Working Cap Days ⓘ | 261 | 269 | 269 | 325 | 476 | 2,533 | 1,648 | 0 | 0 | 0 | 0 |
| Cash Conv. Cycle ⓘ | 60 | 83 | 91 | 132 | 195 | 1,324 | 673 | 0 | 0 | 0 | 0 |
No data to display
Return on Equity has declined versus last 3 years average to 18.60%
Sales growth has been subdued in last 3 years -100.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1.4 | - |
| TTM Sales (₹ Cr.) | 0 | - |
| BVPS (₹.) ⓘ | -8.4 | - |
| Reserves (₹ Cr.) ⓘ | -6 | - |
| P/BV ⓘ | -1.67 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 5.97 / 14.05 |
| All Time Low / High (₹) | 3.25 / 78.00 |
| Market Cap (₹ Cr.) | 4.9 |
| Equity (₹ Cr.) | 3.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 30.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 97.17 | 96.60 | 98.42 | 81.73 | 50.11 | 6.92 | 7.59 | 0 | 0 | 0 |
| Operating Expenses ⓘ | 88.11 | 89.27 | 89.65 | 78.69 | 55.06 | 11.95 | 23.19 | 1.69 | 1.56 | 0.52 |
| Manufacturing Costs | 20.83 | 19.91 | 22.09 | 20.57 | 12.38 | 2.79 | 2.87 | 0.03 | 0.05 | 0.01 |
| Material Costs | 49.52 | 50.06 | 44.26 | 36.47 | 26.76 | 4.60 | 3.83 | 0 | 0 | 0 |
| Employee Cost | 10.72 | 11.49 | 12.62 | 12.85 | 10.01 | 2.74 | 1.63 | 0.56 | 0.36 | 0.20 |
| Other Costs ⓘ | 7.04 | 7.81 | 10.68 | 8.80 | 5.92 | 1.82 | 14.86 | 1.10 | 1.15 | 0.30 |
| Operating Profit ⓘ | 9.05 | 7.33 | 8.77 | 3.04 | -4.95 | -5.03 | -15.60 | -1.69 | -1.56 | -0.52 |
| Operating Profit Margin (%) | 9.3% | 7.6% | 8.9% | 3.7% | -9.9% | -72.7% | -205.0% | - | - | - |
| Other Income ⓘ | 1.17 | 2.61 | 1.09 | 3.68 | 3.60 | 2.46 | 18.02 | 0.09 | 1.81 | 0.03 |
| Interest ⓘ | 5.59 | 6.54 | 5.46 | 5.29 | 4.03 | 1.03 | 1.94 | 0.44 | 0.29 | 0.23 |
| Depreciation ⓘ | 1.80 | 1.62 | 1.38 | 1.20 | 1.21 | 1.01 | 0.58 | 0.02 | 0.02 | 0.02 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2.84 | 1.77 | 3.01 | 0.23 | -6.60 | -4.61 | -0.10 | -2.07 | -0.05 | -0.73 |
| Tax ⓘ | 0.45 | 0.37 | 0.67 | -0.04 | -0.06 | 0.07 | -0.44 | 0 | 0.12 | 0.17 |
| Profit After Tax | 2.38 | 1.40 | 2.34 | 0.27 | -6.53 | -4.68 | 0.34 | -2.07 | -0.17 | -0.91 |
| PAT Margin (%) | 2.5% | 1.5% | 2.4% | 0.3% | -13.0% | -67.7% | 4.5% | - | - | - |
| Adjusted EPS (₹) | 6.9 | 4.1 | 6.8 | 0.8 | -18.9 | -13.6 | 1.0 | -6.0 | -0.5 | -2.6 |
| Dividend Payout Ratio (%) | 12% | 15% | 10% | 51% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 15.12 | 16.27 | 18.32 | 18.57 | 11.88 | 7.34 | 7.39 | -0.45 | -1.21 | -2.41 |
| Share Capital ⓘ | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 |
| Reserves ⓘ | 11.66 | 12.81 | 14.86 | 15.11 | 8.43 | 3.88 | 3.93 | -3.91 | -4.66 | -5.87 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 33 | 34.40 | 36.26 | 33.74 | 32.12 | 27.39 | 1.32 | 1.53 | 1.48 | 1.75 |
| Long Term Debt | 0.27 | 0.05 | 0 | 0 | 1.51 | 1.41 | 1.32 | 1.53 | 1.48 | 0 |
| Short Term Debt | 32.73 | 34.35 | 36.26 | 33.74 | 30.61 | 25.97 | 0 | 0 | 0 | 1.75 |
| Trade Payables | 33.12 | 33.72 | 29.01 | 30.91 | 21.15 | 18.27 | 16.11 | 10.46 | 0.49 | 0.63 |
| Others Liabilities ⓘ | 4.05 | 3.19 | 3.20 | 2.64 | 4.28 | 3.44 | 3.55 | 2.74 | 1.49 | 1.37 |
| Total Liabilities ⓘ | 85.30 | 87.57 | 86.79 | 85.85 | 69.44 | 56.44 | 28.37 | 14.26 | 2.26 | 1.34 |
Fixed Assets | ||||||||||
| Gross Block | 30.49 | 31.33 | 31.11 | 12.94 | 13.40 | 13.43 | 3.58 | 1.26 | 1.12 | 1.07 |
| Accumulated Depreciation | 16.65 | 18.27 | 18.83 | 1.19 | 2.41 | 3.41 | 0.54 | 0.20 | 0.18 | 0.17 |
| Net Fixed Assetsⓘ | 13.84 | 13.06 | 12.29 | 11.75 | 10.99 | 10.03 | 3.04 | 1.06 | 0.94 | 0.90 |
| CWIP ⓘ | 0.26 | 0 | 0 | 0.32 | 0.63 | 0.63 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0.05 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0 |
| Inventories | 8.19 | 10.64 | 7.85 | 8.28 | 4.07 | 1.16 | 0.77 | 0.06 | 0 | 0 |
| Trade Receivables | 47.96 | 50.81 | 54.28 | 53 | 42.52 | 36.89 | 18.61 | 0.63 | 0.53 | 0 |
| Cash Equivalents | 1.25 | 2 | 1.95 | 0.48 | 0.37 | 0.29 | 0.11 | 7.09 | 0.09 | 0.02 |
| Others Assetsⓘ | 13.80 | 11.06 | 10.42 | 11.97 | 10.83 | 7.41 | 5.83 | 5.42 | 0.69 | 0.42 |
| Total Assets ⓘ | 85.30 | 87.57 | 86.79 | 85.85 | 69.44 | 56.44 | 28.37 | 14.26 | 2.26 | 1.34 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 5.93 | 5.81 | 2.91 | 8.54 | 5.35 | 4.91 | 4.60 | -3.77 | -7.79 | -0.04 |
| PBT ⓘ | 2.84 | 1.77 | 3.01 | 0.23 | -6.60 | -4.61 | -0.10 | -7.95 | -0.64 | -1.05 |
| Adjustment ⓘ | 5.97 | 6.66 | 5.30 | 6.29 | 5.19 | 1.71 | -14.17 | -9.11 | -0.55 | 0.51 |
| Changes in Working Capital ⓘ | -2.52 | -1.96 | -4.91 | 2.82 | 6.77 | 7.52 | 19.04 | 13.32 | -6.78 | 0.49 |
| Tax Paid ⓘ | -0.36 | -0.66 | -0.49 | -0.80 | -0.01 | 0.29 | -0.17 | -0.03 | 0.17 | 0.01 |
| Cash Flow From Investing Activity ⓘ | -0.72 | -0.90 | -0.60 | -0.95 | 0.30 | 0.83 | 23.64 | 11.12 | 1.02 | 0.06 |
| Capex | -0.40 | -0.59 | -0.61 | -0.96 | -0.69 | 0.50 | 23.24 | 11.13 | 1.13 | 0.05 |
| Net Investments | 0 | 0 | 0 | -0.13 | 0.90 | 0.31 | 0.21 | 0.01 | 0.01 | 0.01 |
| Others ⓘ | -0.32 | -0.31 | 0.01 | 0.13 | 0.09 | 0.03 | 0.19 | -0.01 | -0.12 | 0.01 |
| Cash Flow From Financing Activityⓘ | -3.91 | -4.35 | -2.44 | -8.26 | -5.54 | -5.78 | -28.21 | -0.36 | -0.22 | -0.09 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -0.46 | -0.52 | -0.22 | -0.05 | 1.62 | -0.10 | -0.10 | 0.10 | -0.05 | -1.48 |
| Interest Paid ⓘ | -4.21 | -5.13 | -3.89 | -5.40 | -3.86 | -1.03 | -2.10 | -0.46 | -0.27 | -0.25 |
| Dividend Paid ⓘ | -0.21 | -0.28 | -0.21 | -0.29 | -0.17 | 0 | -0.01 | -0.01 | -0.01 | -0.01 |
| Others ⓘ | 0.96 | 1.57 | 1.87 | -2.52 | -3.13 | -4.64 | -26 | 0 | 0.11 | 1.64 |
| Net Cash Flow ⓘ | 1.30 | 0.56 | -0.13 | -0.68 | 0.12 | -0.03 | 0.03 | 6.99 | -6.99 | -0.07 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 16.91 | 8.94 | 13.52 | 1.47 | -42.91 | -48.75 | 4.64 | N/A | N/A | N/A |
| ROCE (%) | 17.79 | 16.71 | 16.06 | 10.32 | -5.33 | -9.07 | 8.44 | N/A | N/A | N/A |
| Asset Turnover Ratio | 1.15 | 1.12 | 1.13 | 0.95 | 0.65 | 0.12 | 0.18 | 0 | 0 | 0 |
| PAT to CFO Conversion(x) | 2.49 | 4.15 | 1.24 | 31.63 | N/A | N/A | 13.53 | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 172 | 187 | 195 | 239 | 348 | 1,956 | 1,295 | 0 | 0 | 0 |
| Inventory Days | 36 | 36 | 34 | 36 | 45 | 129 | 45 | 0 | 0 | 0 |
| Payable Days | 251 | 244 | 259 | 300 | 355 | 1,566 | 1,636 | 0 | 0 | 0 |
Carnation Enterprise Pvt. Ltd. was established in 1982 by the combination of a few dynamic working men all successful in their respective fields, which later in 1995 changed the name to Carnation Industries Limited. The company starting off as a merchant exporter recorded a steady growth each year, the company went into manufacturing in the mid-80s and is running two grey iron foundries and ductile iron unit all in West Bengal. Both the grey iron production units and the ductile iron production unit are certified by SGS (India) Ltd. as per BS-EN-124 require for systems approval & specific product approvals.
Carnation is the country's first Conventional Grey Iron foundry to be certified ISO 9002 by KPMG (USA). Currently it holds the BS EN ISO 9001:2000 certificate from BSI (UK). UL Certification from Underwriters Laboratories Inc., USA.
Carnation has a professional set up backed by a group of highly experienced and Technically qualifed shop staff in different departments working under professional managers. They have a work force strength of 40 experienced personnel & a labour strength of over 400 persons.
Product development, technology upgradation and providing more for the value of money are Carnation’s forte.
Carnation has established itself as one of the top exporters of castings from India and it takes the toil and sweat of the whole team ably supported by juniors and the labour force to keep Carnation at top.
Product range of the company includes:
Milestones & Achievements:
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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