BSE: 543923 | NSE: IKIO | Electronics - Components | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that IKIO Lighting Ltd is a average quality company.
The key valuation ratios of IKIO Lighting Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of IKIO Lighting Ltd is likely to Rise-somewhat 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'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 68.2% | 63.6% | 52.9% | 35.5% | 14.6% | - |
| Value Creation Index ⓘ | 3.9 | 3.5 | 2.8 | 1.5 | 0.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 141 | 160 | 220 | 241 | 241 | 236 |
| Sales YoY Gr. | - | 13.5% | 37.7% | 9.8% | -0.2% | - |
| Adj EPS ⓘ | 2.5 | 3.2 | 4.2 | 3.8 | 3.7 | 3.4 |
| YoY Gr. | - | 28.6% | 34.3% | -10.9% | -2.1% | - |
| BVPS (₹) ⓘ | 4.3 | 7.4 | 11.8 | 15.6 | 62.1 | 60.4 |
| Adj Net Profit ⓘ | 16 | 20.5 | 27.5 | 24.5 | 28.5 | 27 |
| Cash Flow from Ops. ⓘ | 13.2 | -0.1 | -5.3 | 53.1 | -7 | - |
| Debt/CF from Ops. ⓘ | 0.6 | -101.2 | -3 | 0.5 | -1.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 14.7% | -0.2% | ||||
| Adj EPS ⓘ | NA | NA | 5.4% | -2.1% | ||||
| BVPSⓘ | NA | NA | 102.9% | 299.1% | ||||
| Share Price | - | - | - | -25.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 57.7 | 53.9 | 44.1 | 27.6 | 9.8 | 5.6 |
| Op. Profit Mgn % ⓘ | 18.7 | 19.1 | 18.3 | 16.1 | 11.9 | 8.9 |
| Net Profit Mgn % ⓘ | 11.3 | 12.8 | 12.5 | 10.2 | 11.8 | 11.3 |
| Debt to Equity ⓘ | 0.3 | 0.1 | 0.2 | 0.2 | 0 | 0 |
| Working Cap Days ⓘ | 0 | 100 | 126 | 161 | 225 | 213 |
| Cash Conv. Cycle ⓘ | 0 | 34 | 75 | 79 | 71 | 189 |
Sales growth is growing at healthy rate in last 3 years 14.71%
Return on Equity has declined versus last 3 years average to 5.60%
Net Profit has been subdued in last 3 years 5.42%
Sales growth is not so good in last 4 quarters at -7.48%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.4 | 7 |
| TTM Sales (₹ Cr.) | 236 | 464 |
| BVPS (₹.) ⓘ | 60.4 | 71.2 |
| Reserves (₹ Cr.) ⓘ | 418 | 473 |
| P/BV ⓘ | 4.23 | 3.59 |
| PE ⓘ | 74.17 | 36.65 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 245.45 / 347.80 |
| All Time Low / High (₹) | 245.45 / 477.15 |
| Market Cap (₹ Cr.) | 1,974 |
| Equity (₹ Cr.) | 77.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 217.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 141 | 160 | 220 | 241 | 241 |
| Operating Expenses ⓘ | 114 | 129 | 180 | 202 | 212 |
| Manufacturing Costs | 1 | 1 | 2 | 2 | 3 |
| Material Costs | 94 | 106 | 146 | 176 | 177 |
| Employee Cost | 10 | 9 | 14 | 16 | 21 |
| Other Costs ⓘ | 8 | 13 | 18 | 9 | 11 |
| Operating Profit ⓘ | 26 | 30 | 40 | 39 | 29 |
| Operating Profit Margin (%) | 18.7% | 19.0% | 18.3% | 16.1% | 11.9% |
| Other Income ⓘ | 0 | 0 | 1 | 3 | 19 |
| Interest ⓘ | 2 | 1 | 1 | 6 | 6 |
| Depreciation ⓘ | 2 | 2 | 2 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 22 | 28 | 38 | 33 | 39 |
| Tax ⓘ | 6 | 7 | 10 | 8 | 10 |
| Profit After Tax | 16 | 21 | 28 | 25 | 29 |
| PAT Margin (%) | 11.4% | 12.9% | 12.7% | 10.2% | 11.9% |
| Adjusted EPS (₹) | 2.5 | 3.2 | 4.3 | 3.8 | 3.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 27% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 28 | 48 | 76 | 101 | 480 | |||||
| Share Capital ⓘ | 0 | 0 | 25 | 65 | 77 | |||||
| Reserves ⓘ | 28 | 48 | 51 | 36 | 403 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 6 | 4 | 15 | 24 | 10 | |||||
| Long Term Debt | 3 | 2 | 1 | 0 | 0 | |||||
| Short Term Debt | 4 | 2 | 14 | 23 | 10 | |||||
| Trade Payables | 14 | 18 | 14 | 18 | 13 | |||||
| Others Liabilities ⓘ | 3 | 4 | 7 | 6 | 5 | |||||
| Total Liabilities ⓘ | 51 | 74 | 112 | 149 | 508 | |||||
Fixed Assets | ||||||||||
| Gross Block | 17 | 18 | 22 | 25 | 27 | |||||
| Accumulated Depreciation | 2 | 2 | 5 | 7 | 10 | |||||
| Net Fixed Assetsⓘ | 15 | 15 | 17 | 18 | 17 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Investmentsⓘ | 0 | 0 | 0 | 13 | 127 | |||||
| Inventories | 17 | 32 | 56 | 44 | 48 | |||||
| Trade Receivables | 5 | 16 | 26 | 16 | 22 | |||||
| Cash Equivalents | 7 | 0 | 1 | 0 | 184 | |||||
| Others Assetsⓘ | 8 | 11 | 12 | 57 | 109 | |||||
| Total Assets ⓘ | 51 | 74 | 112 | 149 | 508 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 13 | 0 | -5 | 53 | -7 |
| PBT ⓘ | 22 | 28 | 38 | 33 | 39 |
| Adjustment ⓘ | 4 | 3 | 3 | 7 | -10 |
| Changes in Working Capital ⓘ | -5 | -23 | -37 | 23 | -24 |
| Tax Paid ⓘ | -8 | -8 | -9 | -10 | -12 |
| Cash Flow From Investing Activity ⓘ | -4 | -3 | -5 | -56 | -314 |
| Capex | -4 | -3 | -5 | -3 | -3 |
| Net Investments | 0 | 0 | 0 | 0 | -176 |
| Others ⓘ | 0 | 0 | 0 | -54 | -135 |
| Cash Flow From Financing Activityⓘ | -5 | -3 | 10 | 3 | 329 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 350 |
| Net Proceeds from Borrowing ⓘ | -6 | -1 | -1 | -1 | 0 |
| Interest Paid ⓘ | -2 | -1 | -1 | -6 | -6 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 4 | -2 | 12 | 9 | -15 |
| Net Cash Flow ⓘ | 5 | -6 | 0 | -1 | 9 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 57.84 | 54.18 | 44.9 | 27.75 | 9.87 | |||||
| ROCE (%) | 68.24 | 63.58 | 52.94 | 35.5 | 14.61 | |||||
| Asset Turnover Ratio | 2.77 | 2.56 | 2.37 | 1.85 | 0.73 | |||||
| PAT to CFO Conversion(x) | 0.81 | 0 | -0.18 | 2.12 | -0.24 | Working Capital Days | ||||
| Receivable Days | 12 | 23 | 35 | 32 | 29 | |||||
| Inventory Days | 44 | 55 | 73 | 76 | 70 | |||||
| Payable Days | 54 | 54 | 40 | 33 | 32 | |||||
The company was incorporated as ‘IKIO Lighting Private Limited’ under the Companies Act, 2013, pursuant to the certificate of incorporation issued by the RoC on March 21, 2016. The name of the cmpany was subsequently changed to ‘IKIO Lighting Limited’, upon conversion into a public company, pursuant to a board resolution dated January 3, 2022 and a shareholder’s resolution dated January 31, 2022, and a fresh certificate of change of name was issued on April 18, 2022 by the RoC.
It is an Indian manufacturer of light emitting diode (LED) lighting solutions. It is focused on sustainability and providing low energy LED products to help India meet its sustainability goals. It is primarily an original design manufacturer (ODM) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. It also works with its customers to develop, manufacture and supply products that are designed by its customers. It’s LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories and components. Its provide lighting solutions (lights, drivers and controls) to commercial refrigeration equipment suppliers under its refrigeration light segment. It also manufacture an alternative to polyvinyl chloride (PVC) piping called ABS piping that is primarily used by its US customers for plumbing applications in the recreational vehicles (RVs) that they fit out. In addition, its manufacture and assemble other products including fan regulators that are designed by its clients; light strips, moulding, and other components and spares. Its equipment and systems are used in various industries and products, including residential, industrial and commercial lighting.
It has four manufacturing facilities with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region. In line with its focus to provide end-to-end product solutions and to develop better control on its supply chain and improve its margins, it has backward integrated its major manufacturing processes. It has developed in-house capabilities so that it manufacture all mechanical components in house (save diodes and resistors).
Business area of the company
The company is an Indian manufacturer of light emitting diode (LED) lighting solutions. It is focused on sustainability and providing low energy LED products to help India meet its sustainability goals.
Products of the company
History and milestones
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