Kalyani Forge Ltd - Stock Valuation and Financial Performance

BSE: 513509 | NSE: KALYANIFRG | Forgings | Small Cap

Kalyani Forge Share Price

671.30 -32.80 -4.66%
as on 20-Dec'24 16:59

DeciZen - make an informed investing decision on Kalyani Forge

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Kalyani Forge stock performance -

mw4me loader
P/E Ratio (SA):
37.63
Market Cap:
244.2 Cr.
52-wk low:
371
52-wk high:
740

Is Kalyani Forge Ltd an attractive stock to invest in?

1. Is Kalyani Forge Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kalyani Forge Ltd is a below average quality company.

2. Is Kalyani Forge Ltd undervalued or overvalued?

The key valuation ratios of Kalyani Forge Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Kalyani Forge Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kalyani Forge Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Kalyani Forge:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kalyani Forge Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 2.1%4.9%5.9%9.4%10.5%-1.9%0.8%6%3.8%8.9%-
Value Creation
Index
-0.9-0.7-0.6-0.3-0.3-1.1-1.0-0.6-0.7-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 241231227259286201181247266237236
Sales YoY Gr.--4.1%-1.8%14%10.8%-29.8%-10%36.4%7.9%-10.9%-
Adj EPS -62.812.117.317.7-19.3-4.17.9-2.910.917.8
YoY Gr.-NA337.7%43.1%2.2%-209%NANA-137.1%NA-
BVPS (₹) 267.8268.4280.4293.5306.7280.7275.4283213.6225.4237.2
Adj Net
Profit
-2.214.46.36.4-7-1.52.9-1.146
Cash Flow from Ops. 25.419.215.512.33024.17.411.1-2.510-
Debt/CF from Ops. 1.82.14.15.11.61.33.72.4-15.36.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.2%-3.7%9.4%-10.9%
Adj EPS NA-9.2%NANA
BVPS-1.9%-6%-6.5%5.5%
Share Price 10.8% 34.8% 56.9% 66.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-2.214.465.9-6.6-1.52.8-1.257.7
Op. Profit
Mgn %
5.56.87.18.394.27.17.646.16.6
Net Profit
Mgn %
-0.90.41.92.42.3-3.5-0.81.2-0.41.72.8
Debt to
Equity
0.50.40.60.60.40.30.30.30.50.70.2
Working Cap
Days
157165188196181230237187177202109
Cash Conv.
Cycle
767378868812413811811210830

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 7.70%

Sales growth has been subdued in last 3 years 9.41%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at -6.88%

Latest Financials - Kalyani Forge Ltd.

Standalone Consolidated
TTM EPS (₹) 17.8 -
TTM Sales (₹ Cr.) 236 -
BVPS (₹.) 237.2 -
Reserves (₹ Cr.) 83 -
P/BV 2.83 -
PE 37.63 -
From the Market
52 Week Low / High (₹) 371.00 / 740.00
All Time Low / High (₹) 7.00 / 740.00
Market Cap (₹ Cr.) 244
Equity (₹ Cr.) 3.6
Face Value (₹) 10
Industry PE 37.5

Management X-Ray of Kalyani Forge:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Kalyani Forge

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales241231227259286201181247266237
Operating Expenses 228215212237261193169228255223
Manufacturing Costs58606469714840485253
Material Costs12911310512714310292132152114
Employee Cost 28283229363126353738
Other Costs 14131212101110131518
Operating Profit 1316152126812191114
Operating Profit Margin (%) 5.5%6.8%6.5%8.3%9.0%4.2%6.7%7.6%4.0%5.9%
Other Income 3357632174
Interest 6546853436
Depreciation 1312101315141312116
Exceptional Items 00000000-20
Profit Before Tax -325910-8-2416
Tax -11233-10111
Profit After Tax -21377-7-2305
PAT Margin (%) -0.9%0.5%1.5%2.5%2.4%-3.4%-1.0%1.3%-0.1%1.9%
Adjusted EPS (₹)-6.23.09.618.019.1-19.0-4.88.6-0.512.5
Dividend Payout Ratio (%)0%66%31%19%21%-5%-31%35%-594%24%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 97981021071121021001037882
Share Capital 4444444444
Reserves 9494981031089897997478
Minority Interest0000000000
Debt36345757382526263861
Long Term Debt12516186100119
Short Term Debt24294140312426263741
Trade Payables42404250483536344446
Others Liabilities 25263421302119161613
Total Liabilities 201198235235227182181180176201

Fixed Assets

Gross Block20221571108117118115114119142
Accumulated Depreciation1411511023385262708086
Net Fixed Assets61646084786553443956
CWIP 178305011235
Investments 0000000000
Inventories34374548484045494756
Trade Receivables61626270755767737562
Cash Equivalents 71025563556
Others Assets211737231914127616
Total Assets 201198235235227182181180176201

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 251915123024711-310
PBT -327910-9-2416
Adjustment 20171317192019201319
Changes in Working Capital 92-2-12014-9-11-15-12
Tax Paid -1-1-2-21-10-2-2-2
Cash Flow From Investing Activity -2-5-41-2-7-1-1-4-6-26
Capex -2-5-42-2-7-1-1-4-6-26
Net Investments 0000000000
Others 0000000000
Cash Flow From Financing Activity -20-1119-8-25-23-7-5816
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0002-8-8-7-1019
Interest Paid -6-5-3-7-8-5-3-4-3-6
Dividend Paid -10-1-1-2-20-1-1-1
Others -13-623-2-8-820114
Net Cash Flow 33-72-20-12-10
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-2.261.133.496.296.38-6.48-1.743.08-0.25.7
ROCE (%)2.134.925.99.3610.49-1.890.775.953.798.9
Asset Turnover Ratio1.291.281.161.131.240.9811.371.491.25
PAT to CFO Conversion(x)N/A1951.714.29N/AN/A3.67N/A2
Working Capital Days
Receivable Days7887899193120125104101105
Inventory Days49515964618086696680
Payable Days931271431321251461399795144

Kalyani Forge Ltd Stock News

Kalyani Forge Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kalyani Forge on 20-Dec-2024 16:59 is ₹671.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Dec-2024 16:59 the market cap of Kalyani Forge stood at ₹244.2.
The latest P/E ratio of Kalyani Forge as of 20-Dec-2024 16:59 is 37.63.
The latest P/B ratio of Kalyani Forge as of 20-Dec-2024 16:59 is 2.83.
The 52-week high of Kalyani Forge is ₹740.0 and the 52-week low is ₹371.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kalyani Forge is ₹235.6 ( Cr.) .

About Kalyani Forge Ltd

Kalyani Forge was established on January 29, 1979, as a private limited company by the name of Ellora Engineering Company Private Limited. later in 1992 was converted into a public limited company and also changed its name to the present one. The company is a part of the well reputed Kalyani group and has been promoted by U A Tahale and P S Kalyani.

The company is engaged in the manufacturing of Forgings, Precision Machined Components  and Sub-assemblies.

The company was formed at a time when the engineering industry, and particularly the automotive sector, was experiencing a change in the demand pattern. This compelled forging units to consider new ways and means to meet the buyers requirements on qualitative and quantitative terms. Kalyani Forge, the first and perhaps the only forge shop in India to exclusively use press technology for small forgings, successfully bridged the gap with consistent high quality and timely delivery.

Kalyani Forge is TS 16949 & QS 9000 certified company that manufactures closed die press forgings using HOT, WARM & COLD forging technologies in the weight range - 50 gms to 12 kgs. Kalyani Forge specializes in the manufacture of connecting rods for two & four wheelers.

Kalyani Forge is well located at Koregaon Bhima, 30 Km from Pune which is known as 'The Detroit of India' & 'The Oxford of the East'. It is around 160 Kms from Mumbai i.e. approximately 30 minutes by air & 3 hours by road. Pune is well connected to other metropolitan cities like Delhi, Bangalore, Chennai, Kolkatta.

Product range of the company includes:

Hot forgings

  • Crankshafts
  • Profiles
  • Connecting rods
  • Shifter Forks
  • Under Brackets

Cold forgings

  • Spline shafts
  • Kidney gears

Warm forgings

  • Lug gears
  • Tulips, gear wheel

Machine components

  • Precision machined components

Different divisions of the company are:

  • Product Engineering Division
  • Hot Forging Division
  • Metal Forms Division
  • Precision Auto Components Division
  • Metallurgical & Metrological Testing 

Milestones :

  • 2004 - Forging Capacity Expansion & TS16949 Certification 
  • 2003- Machining Capacity Expansion 
  • 2002- Technology Upgradation for CAD/CAM Facilities
  • 2001- QS 9000 Certification
  • 1999- Establishment of Metal Forms Division
  • 1995- ISO 9002 Certification & Establishment of Machine Shop 
  • 1992 - Maiden Export Order from Italy 
  • 1981 - Commencement of Commercial Production of Hot Forgings 
  • 1979 - Company Incorporation

Achievements/ recognition:

  • TS 16949 Certified by Underwriters Laboratories (UL) , USA & QS 9000
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