BSE: 504258 | NSE: LAKSELECON | Electric Equipment | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Lakshmi Electrical Control Systems Ltd is a below average quality company.
The key valuation ratios of Lakshmi Electrical Control Systems 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 Lakshmi Electrical Control Systems 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 % ⓘ | 15% | 15.1% | 10% | 10% | 7.5% | 0.6% | 1.7% | 10.4% | 12.1% | 7.4% | - |
| Value Creation Index ⓘ | 0.1 | 0.1 | -0.3 | -0.3 | -0.5 | -1.0 | -0.9 | -0.3 | -0.1 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 182 | 187 | 160 | 189 | 191 | 113 | 132 | 256 | 361 | 338 | 248 |
| Sales YoY Gr. | - | 2.7% | -14.3% | 17.5% | 1.2% | -40.7% | 16.8% | 93.7% | 40.9% | -6.3% | - |
| Adj EPS ⓘ | 33.3 | 35 | 38.1 | 41.7 | 32.9 | 1.6 | 19.5 | 62.7 | 80.3 | 52.1 | 18.9 |
| YoY Gr. | - | 5.2% | 8.8% | 9.4% | -21% | -95.1% | 1111.2% | 221.5% | 28.1% | -35.1% | - |
| BVPS (₹) ⓘ | 345.6 | 371 | 559.7 | 688.4 | 694.7 | 545.3 | 716.8 | 866.5 | 943.8 | 1,145.3 | 1,224.4 |
| Adj Net Profit ⓘ | 8.2 | 8.6 | 9.4 | 10.2 | 8.1 | 0.4 | 4.8 | 15.4 | 19.7 | 12.8 | 5 |
| Cash Flow from Ops. ⓘ | -9.3 | 1.9 | 1.4 | 15.1 | 6.8 | 8.5 | -9.6 | 6.7 | 11.1 | 15.6 | - |
| Debt/CF from Ops. ⓘ | -0.1 | 1.5 | 16.2 | 0.3 | 0.8 | 0.1 | -1.1 | 0.9 | 0.7 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.1% | 12.1% | 36.7% | -6.3% | ||||
| Adj EPS ⓘ | 5.1% | 9.6% | 38.8% | -35.1% | ||||
| BVPSⓘ | 14.2% | 10.5% | 16.9% | 21.4% | ||||
| Share Price | 10% | 33.5% | 26.3% | -16% | ||||
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 % ⓘ | 10 | 9.8 | 8.2 | 6.7 | 4.8 | 0.3 | 3.1 | 7.9 | 8.9 | 5 | 1.6 |
| Op. Profit Mgn % ⓘ | 5.4 | 7.1 | 7.4 | 8.2 | 5.8 | -0.1 | 3 | 7.9 | 7.5 | 4.7 | 2.5 |
| Net Profit Mgn % ⓘ | 4.5 | 4.6 | 5.8 | 5.4 | 4.2 | 0.4 | 3.6 | 6 | 5.5 | 3.8 | 1.9 |
| Debt to Equity ⓘ | 0 | 0 | 0.2 | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 103 | 109 | 131 | 130 | 127 | 188 | 183 | 131 | 122 | 129 | 85 |
| Cash Conv. Cycle ⓘ | 19 | 39 | 57 | 66 | 81 | 123 | 105 | 67 | 57 | 68 | 48 |
Sales growth is growing at healthy rate in last 3 years 36.72%
Net Profit is growing at healthy rate in last 3 years 38.78%
Return on Equity has declined versus last 3 years average to 1.60%
Sales growth is not so good in last 4 quarters at -34.79%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 18.9 | 40.1 |
| TTM Sales (₹ Cr.) | 248 | 159 |
| BVPS (₹.) ⓘ | 1,224.4 | 0 |
| Reserves (₹ Cr.) ⓘ | 298 | 43 |
| P/BV ⓘ | 1.07 | 0.00 |
| PE ⓘ | 69.27 | 32.62 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1165.55 / 1934.00 |
| All Time Low / High (₹) | 22.50 / 2175.00 |
| Market Cap (₹ Cr.) | 321 |
| Equity (₹ Cr.) | 2.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 90.2 |
| 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 | 182 | 187 | 160 | 188 | 191 | 113 | 132 | 256 | 361 | 338 |
| Operating Expenses ⓘ | 172 | 174 | 149 | 173 | 180 | 113 | 128 | 236 | 334 | 322 |
| Manufacturing Costs | 7 | 6 | 5 | 6 | 8 | 5 | 6 | 7 | 10 | 11 |
| Material Costs | 150 | 149 | 125 | 146 | 150 | 88 | 102 | 203 | 290 | 273 |
| Employee Cost | 12 | 16 | 15 | 16 | 17 | 16 | 16 | 21 | 26 | 29 |
| Other Costs ⓘ | 3 | 3 | 3 | 4 | 4 | 4 | 3 | 5 | 8 | 10 |
| Operating Profit ⓘ | 10 | 13 | 12 | 16 | 11 | 0 | 4 | 20 | 27 | 16 |
| Operating Profit Margin (%) | 5.4% | 7.1% | 7.4% | 8.2% | 5.8% | -0.1% | 3.0% | 7.9% | 7.5% | 4.7% |
| Other Income ⓘ | 4 | 2 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 7 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation ⓘ | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Exceptional Items ⓘ | 0 | 0 | -1 | 0 | 0 | 0 | -3 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 12 | 13 | 13 | 17 | 13 | 1 | 3 | 21 | 27 | 19 |
| Tax ⓘ | 4 | 5 | 4 | 5 | 3 | 0 | 0 | 5 | 7 | 5 |
| Profit After Tax | 8 | 9 | 9 | 12 | 10 | 0 | 3 | 15 | 20 | 14 |
| PAT Margin (%) | 4.5% | 4.6% | 5.5% | 6.2% | 5.3% | 0.4% | 2.3% | 6.0% | 5.5% | 4.1% |
| Adjusted EPS (₹) | 33.5 | 35.0 | 35.8 | 47.8 | 41.5 | 1.7 | 12.4 | 63.0 | 81.1 | 56.8 |
| Dividend Payout Ratio (%) | 21% | 23% | 22% | 21% | 22% | 29% | 28% | 24% | 27% | 26% |
| 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 | 85 | 91 | 138 | 169 | 171 | 134 | 176 | 213 | 232 | 282 |
| Share Capital ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves ⓘ | 82 | 89 | 135 | 167 | 168 | 132 | 174 | 211 | 230 | 279 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1 | 3 | 22 | 5 | 5 | 0 | 11 | 6 | 8 | 7 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 1 | 3 | 22 | 5 | 5 | 0 | 11 | 6 | 8 | 7 |
| Trade Payables | 31 | 19 | 20 | 23 | 17 | 17 | 30 | 41 | 54 | 26 |
| Others Liabilities ⓘ | 7 | 8 | 7 | 10 | 7 | 6 | 8 | 16 | 17 | 22 |
| Total Liabilities ⓘ | 124 | 121 | 186 | 207 | 200 | 158 | 226 | 277 | 310 | 337 |
Fixed Assets | ||||||||||
| Gross Block | 56 | 61 | 26 | 27 | 29 | 40 | 41 | 43 | 51 | 43 |
| Accumulated Depreciation | 33 | 35 | 2 | 2 | 4 | 6 | 9 | 11 | 13 | 12 |
| Net Fixed Assetsⓘ | 23 | 26 | 24 | 25 | 25 | 34 | 32 | 32 | 37 | 31 |
| CWIP ⓘ | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 3 |
| Investmentsⓘ | 11 | 1 | 60 | 104 | 100 | 71 | 104 | 126 | 130 | 177 |
| Inventories | 21 | 16 | 14 | 17 | 20 | 20 | 30 | 30 | 32 | 30 |
| Trade Receivables | 33 | 36 | 39 | 50 | 41 | 31 | 45 | 67 | 89 | 60 |
| Cash Equivalents | 23 | 33 | 33 | 8 | 11 | 0 | 10 | 12 | 5 | 11 |
| Others Assetsⓘ | 11 | 9 | 16 | 2 | 3 | 3 | 4 | 9 | 16 | 25 |
| Total Assets ⓘ | 124 | 121 | 186 | 207 | 200 | 158 | 226 | 277 | 310 | 337 |
| 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 | 2 | 1 | 15 | 7 | 8 | -10 | 7 | 11 | 16 |
| PBT ⓘ | 12 | 13 | 13 | 17 | 13 | 1 | 3 | 21 | 27 | 19 |
| Adjustment ⓘ | -3 | 0 | -2 | -1 | -2 | -1 | -1 | 0 | 1 | -3 |
| Changes in Working Capital ⓘ | -16 | -8 | -6 | 4 | -1 | 9 | -11 | -10 | -10 | 4 |
| Tax Paid ⓘ | -3 | -4 | -4 | -4 | -4 | 0 | -1 | -4 | -7 | -4 |
| Cash Flow From Investing Activity ⓘ | -8 | 9 | -18 | 4 | -4 | -1 | -1 | -1 | -8 | -9 |
| Capex | -12 | -3 | -1 | -3 | -2 | -11 | -1 | -4 | -17 | -7 |
| Net Investments | 0 | 10 | -21 | -19 | 0 | -1 | 9 | 4 | 1 | 2 |
| Others ⓘ | 4 | 2 | 4 | 26 | -2 | 11 | -9 | -1 | 8 | -4 |
| Cash Flow From Financing Activityⓘ | -4 | -1 | 17 | -19 | -3 | -8 | 10 | -6 | -3 | -7 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Dividend Paid ⓘ | -1 | -2 | -2 | -2 | -2 | -2 | 0 | -1 | -4 | -5 |
| Others ⓘ | -3 | 1 | 19 | -17 | 0 | -5 | 10 | -5 | 1 | -1 |
| Net Cash Flow ⓘ | -22 | 10 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.05 | 9.76 | 7.69 | 7.65 | 6 | 0.28 | 1.97 | 7.96 | 8.96 | 5.44 |
| ROCE (%) | 14.96 | 15.08 | 10.01 | 9.95 | 7.45 | 0.61 | 1.68 | 10.38 | 12.09 | 7.37 |
| Asset Turnover Ratio | 1.67 | 1.72 | 1.17 | 0.99 | 0.94 | 0.63 | 0.69 | 1.02 | 1.23 | 1.04 |
| PAT to CFO Conversion(x) | -1.13 | 0.22 | 0.11 | 1.25 | 0.7 | N/A | -3.33 | 0.47 | 0.55 | 1.14 | Working Capital Days |
| Receivable Days | 53 | 59 | 75 | 83 | 87 | 115 | 105 | 80 | 79 | 80 |
| Inventory Days | 33 | 32 | 30 | 29 | 35 | 64 | 69 | 43 | 31 | 34 |
| Payable Days | 76 | 61 | 57 | 54 | 49 | 71 | 84 | 65 | 60 | 54 |
Lakshmi Electrical Control Systems (LECS) was established in 1981, with an objective to build custom-engineered control panels for the textile machinery and machine tools . The panels were to integrate with these sophisticated machinery, for centralized control of all actuating & operating elements and motorized drives.
LECS resolved to foray into the manufacture of LV Switchgear, which were needed in large numbers in the building of control panels. They were able to access the know-how from the renowned Sprecher+Schuh, Switzerland; which is now a part of Rockwell Automation, USA. Their entire production is branded as “Sprecher+Schuh†to international standards and marketed by Rockwell Automation.
Similarly,they added to their lines of manufacture many other related products or extensions. Very high quality standards were ensured through in-house facilities for manufacture of most of the parts – Plastic & Metal – with stringent inspection procedures at every stage.
LECS carries the certification of BVQI for management systems according to ISO 9001:2000 standards. Operations are governed by contemporary management practices and controls like ERP, Kanban, 5S etc.Thus high standards of quality and punctuality in performance got ingrained into the manufacturing culture of LECS.
Being an associated company of the engineering conglomerate LMW, they have substantial resources, manufacturing facilities and support systems on tap.
Product range of the company includes:
Achievements/ recognition:
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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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