BSE: 504786 | NSE: | Castings/Forgings | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Investment & Precision Castings Ltd is a average quality company.
The key valuation ratios of Investment & Precision Castings 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 Investment & Precision Castings 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.3% | 10.5% | 11.7% | 16.5% | 12.4% | 4.2% | 4.9% | 4.8% | 10.5% | 12.4% | - |
| Value Creation Index ⓘ | -0.3 | -0.3 | -0.2 | 0.2 | -0.1 | -0.7 | -0.7 | -0.7 | -0.3 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 76.7 | 84.9 | 92 | 108 | 119 | 95.2 | 105 | 132 | 170 | 171 | 160 |
| Sales YoY Gr. | - | 10.7% | 8.4% | 16.9% | 10.3% | -19.8% | 10% | 26.2% | 28.8% | 0.5% | - |
| Adj EPS ⓘ | 3.6 | 5.7 | 8.5 | 15.6 | 19.7 | -1.5 | 0.7 | -0.6 | 10.7 | 14.5 | 11.6 |
| YoY Gr. | - | 57.7% | 48.2% | 84.9% | 25.9% | -107.4% | NA | -181.1% | NA | 34.7% | - |
| BVPS (₹) ⓘ | 97.5 | 102.4 | 118.6 | 133.1 | 150 | 146.1 | 146.9 | 146.1 | 157.1 | 171.6 | 178.2 |
| Adj Net Profit ⓘ | 1.8 | 2.9 | 4.2 | 7.8 | 9.9 | -0.7 | 0.4 | -0.3 | 5.4 | 7.2 | 6 |
| Cash Flow from Ops. ⓘ | 8.7 | 9.4 | 9.9 | 15.2 | 11.9 | 10.4 | 16.6 | 12.9 | 11.8 | 5.8 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 3.4 | 3.1 | 2.6 | 4.8 | 5.6 | 4 | 5 | 5.5 | 12.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.3% | 7.6% | 17.8% | 0.5% | ||||
| Adj EPS ⓘ | 16.6% | -6% | 169.4% | 34.7% | ||||
| BVPSⓘ | 6.5% | 2.7% | 5.3% | 9.3% | ||||
| Share Price | 25% | 38.7% | 41.6% | 18.7% | ||||
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 % ⓘ | 3.8 | 5.7 | 7.7 | 12.4 | 13.9 | -1 | 0.5 | -0.4 | 7.1 | 8.8 | 6.6 |
| Op. Profit Mgn % ⓘ | 14.3 | 15.4 | 16.2 | 19.4 | 16.9 | 12.1 | 12.2 | 9.9 | 12.7 | 14.9 | 14.4 |
| Net Profit Mgn % ⓘ | 2.4 | 3.4 | 4.6 | 7.3 | 8.3 | -0.8 | 0.4 | -0.2 | 3.2 | 4.2 | 3.6 |
| Debt to Equity ⓘ | 0.6 | 0.6 | 0.5 | 0.6 | 0.8 | 0.8 | 0.9 | 0.9 | 0.8 | 0.9 | 0.1 |
| Working Cap Days ⓘ | 196 | 184 | 205 | 205 | 226 | 297 | 282 | 241 | 215 | 235 | 117 |
| Cash Conv. Cycle ⓘ | 94 | 86 | 95 | 84 | 92 | 117 | 113 | 101 | 81 | 108 | 6 |
Return on Equity has increased versus last 3 years average to 6.60%
Sales growth is growing at healthy rate in last 3 years 17.77%
Net Profit is growing at healthy rate in last 3 years 169.41%
Debt to equity has declined versus last 3 years average to 0.87
Sales growth is not so good in last 4 quarters at -8.12%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.6 | 11.6 |
| TTM Sales (₹ Cr.) | 160 | 160 |
| BVPS (₹.) ⓘ | 178.2 | 177.9 |
| Reserves (₹ Cr.) ⓘ | 84 | 84 |
| P/BV ⓘ | 4.49 | 4.50 |
| PE ⓘ | 68.92 | 69.09 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 484.20 / 1049.00 |
| All Time Low / High (₹) | 0.69 / 1049.00 |
| Market Cap (₹ Cr.) | 401 |
| Equity (₹ Cr.) | 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 77 | 85 | 92 | 108 | 119 | 95 | 105 | 132 | 170 | 171 |
| Operating Expenses ⓘ | 66 | 72 | 77 | 87 | 99 | 84 | 92 | 119 | 148 | 145 |
| Manufacturing Costs | 45 | 52 | 56 | 64 | 81 | 60 | 65 | 68 | 84 | 79 |
| Material Costs | 9 | 6 | 8 | 7 | 2 | 9 | 14 | 36 | 46 | 48 |
| Employee Cost | 6 | 7 | 8 | 8 | 8 | 7 | 6 | 6 | 7 | 7 |
| Other Costs ⓘ | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | 11 | 11 |
| Operating Profit ⓘ | 11 | 13 | 15 | 21 | 20 | 11 | 13 | 13 | 22 | 25 |
| Operating Profit Margin (%) | 14.1% | 15.4% | 16.2% | 19.4% | 16.9% | 12.1% | 12.2% | 9.9% | 12.7% | 14.9% |
| Other Income ⓘ | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 0 | 1 |
| Interest ⓘ | 4 | 4 | 4 | 4 | 5 | 7 | 6 | 6 | 7 | 7 |
| Depreciation ⓘ | 4 | 5 | 5 | 5 | 6 | 7 | 7 | 7 | 7 | 8 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 4 | 6 | 12 | 10 | -1 | 1 | 0 | 8 | 11 |
| Tax ⓘ | 1 | 2 | 2 | 4 | 0 | 0 | 0 | 0 | 2 | 4 |
| Profit After Tax | 2 | 3 | 4 | 8 | 10 | -1 | 0 | 0 | 6 | 8 |
| PAT Margin (%) | 2.8% | 3.4% | 4.6% | 7.4% | 8.4% | -0.7% | 0.5% | 0.1% | 3.3% | 4.6% |
| Adjusted EPS (₹) | 4.3 | 5.7 | 8.4 | 16.0 | 20.0 | -1.3 | 1.0 | 0.4 | 11.1 | 15.6 |
| Dividend Payout Ratio (%) | 12% | 12% | 15% | 16% | 10% | -7% | 131% | 70% | 9% | 6% |
| 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 | 49 | 51 | 59 | 67 | 75 | 73 | 73 | 73 | 79 | 86 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 44 | 46 | 54 | 62 | 70 | 68 | 68 | 68 | 74 | 81 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 28 | 29 | 28 | 37 | 53 | 55 | 59 | 56 | 56 | 65 |
| Long Term Debt | 6 | 6 | 6 | 12 | 17 | 16 | 26 | 24 | 17 | 12 |
| Short Term Debt | 23 | 23 | 21 | 26 | 36 | 39 | 33 | 32 | 40 | 53 |
| Trade Payables | 7 | 11 | 9 | 14 | 18 | 18 | 24 | 28 | 38 | 22 |
| Others Liabilities ⓘ | 8 | 10 | 10 | 20 | 17 | 16 | 22 | 26 | 28 | 29 |
| Total Liabilities ⓘ | 93 | 101 | 106 | 138 | 164 | 162 | 179 | 182 | 201 | 202 |
Fixed Assets | ||||||||||
| Gross Block | 79 | 86 | 98 | 115 | 136 | 146 | 160 | 167 | 172 | 180 |
| Accumulated Depreciation | 38 | 43 | 47 | 52 | 58 | 65 | 71 | 77 | 83 | 91 |
| Net Fixed Assetsⓘ | 41 | 44 | 51 | 63 | 78 | 81 | 89 | 90 | 89 | 89 |
| CWIP ⓘ | 5 | 5 | 2 | 5 | 6 | 3 | 3 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Inventories | 14 | 16 | 17 | 20 | 32 | 32 | 32 | 38 | 48 | 48 |
| Trade Receivables | 18 | 20 | 18 | 22 | 20 | 18 | 28 | 28 | 36 | 36 |
| Cash Equivalents | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 2 | 1 | 3 |
| Others Assetsⓘ | 13 | 15 | 17 | 26 | 26 | 27 | 25 | 23 | 26 | 25 |
| Total Assets ⓘ | 93 | 101 | 106 | 138 | 164 | 162 | 179 | 182 | 201 | 202 |
| 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 ⓘ | 9 | 9 | 10 | 15 | 12 | 10 | 17 | 13 | 12 | 6 |
| PBT ⓘ | 3 | 4 | 6 | 12 | 10 | -1 | 1 | 0 | 8 | 11 |
| Adjustment ⓘ | 8 | 8 | 8 | 9 | 10 | 12 | 12 | 12 | 13 | 14 |
| Changes in Working Capital ⓘ | -1 | -2 | -3 | -2 | -6 | 0 | 4 | 1 | -7 | -18 |
| Tax Paid ⓘ | -1 | -1 | -2 | -3 | -2 | -1 | 0 | -1 | -2 | -1 |
| Cash Flow From Investing Activity ⓘ | -6 | -7 | -5 | -20 | -22 | -6 | -14 | -4 | -6 | -7 |
| Capex | -6 | -7 | -5 | -20 | -23 | -6 | -14 | -4 | -7 | -7 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -3 | -3 | -5 | 5 | 10 | -5 | -2 | -9 | -6 | 2 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -4 | -4 | -3 | -4 | -4 | -6 | -6 | -6 | -6 | -7 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -1 | -1 | -1 | 0 | -1 | 0 | -1 |
| Others ⓘ | 0 | 0 | -1 | 9 | 16 | 2 | 4 | -3 | 0 | 9 |
| Net Cash Flow ⓘ | 0 | -1 | 0 | 0 | 0 | 0 | 1 | 0 | -1 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.5 | 5.73 | 7.62 | 12.68 | 14.09 | -0.91 | 0.65 | 0.24 | 7.34 | 9.5 |
| ROCE (%) | 9.29 | 10.52 | 11.72 | 16.46 | 12.38 | 4.17 | 4.85 | 4.82 | 10.49 | 12.38 |
| Asset Turnover Ratio | 0.92 | 0.99 | 0.89 | 0.88 | 0.79 | 0.58 | 0.61 | 0.73 | 0.89 | 0.85 |
| PAT to CFO Conversion(x) | 4.5 | 3 | 2.5 | 1.88 | 1.2 | N/A | N/A | N/A | 2 | 0.75 | Working Capital Days |
| Receivable Days | 77 | 73 | 75 | 68 | 66 | 73 | 80 | 78 | 69 | 77 |
| Inventory Days | 62 | 58 | 67 | 64 | 81 | 122 | 112 | 98 | 93 | 103 |
| Payable Days | 353 | 538 | 496 | 563 | 3,055 | 722 | 556 | 259 | 261 | 228 |
Investment & Precision Castings Ltd.(IPCL) was the first investment casting foundry in Gujarat formed way back in 1975. There was then only one other small investment casting foundry in the entire country. As a pioneer, IPCL had to struggle a lot to impart customer awareness and create a market for investment castings in India. This process was then unknown to the Indian market. A lot of application engineering efforts were involved in educating industries in India to switch over to investment castings from the traditional forging, sand castings and shell moulded castings.
IPCL is a fully equipped investment casting foundry with conventional machining facilities and state-of-the-art CNC Machine Shop. It supplies fully machined ready to use parts to automotive and other customers.
The company entered into a technical collaboration with Arwood International, USA in June 1975. After its expiry in April 1983, It signed a technical collaboration agreement with Furstlich Hohenzollernsche Huttenverwaltung, (Zollern Group), Germany, who was well known in Europe for Investment Castings. It then signed a technical licence agreement with Associated Foundries Engineering Co Ltd, Japan in December 1987, relating to producing large piece weight investment castings.
With the knowledge and experience gained through the above collaborations, and reinforced by in-house research & development, IPCL is today a technology leader in the industry, handling the widest range of material specifications and piece weights.
Product range of the company includes:
Milestones
Achievements/ recognition:
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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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