BSE: 517417 | NSE: | Engineering - Industrial Equipments | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Patels Airtemp (India) Ltd is a average quality company.
The key valuation ratios of Patels Airtemp (India) 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 Weak which suggest that the price of Patels Airtemp (India) 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 % ⓘ | 17.3% | 17.5% | 19.1% | 18% | 13.7% | 17.2% | 15.7% | 14.3% | 13% | 14.3% | - |
| Value Creation Index ⓘ | 0.2 | 0.3 | 0.4 | 0.3 | 0.0 | 0.2 | 0.1 | 0.0 | -0.1 | 0.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 113 | 127 | 136 | 158 | 151 | 237 | 255 | 303 | 281 | 371 | 398 |
| Sales YoY Gr. | - | 12.3% | 7.5% | 16.2% | -4.6% | 57.3% | 7.6% | 18.7% | -7.2% | 31.7% | - |
| Adj EPS ⓘ | 12.2 | 14.1 | 15.8 | 17.2 | 14.1 | 20.9 | 22.7 | 23.9 | 19.6 | 26.5 | 29.9 |
| YoY Gr. | - | 15.2% | 12.3% | 8.7% | -18.2% | 48.5% | 8.9% | 5.3% | -18% | 35% | - |
| BVPS (₹) ⓘ | 105.4 | 116.8 | 132.3 | 146 | 157.4 | 176.6 | 196.3 | 218.2 | 237 | 260.9 | 273 |
| Adj Net Profit ⓘ | 6.2 | 7.1 | 8 | 8.7 | 7.1 | 10.6 | 11.5 | 12.1 | 10.7 | 14.5 | 16 |
| Cash Flow from Ops. ⓘ | -0.1 | 8 | -3.2 | 8.2 | 6.6 | 11.1 | 8.5 | -12.8 | 4.8 | 11.1 | - |
| Debt/CF from Ops. ⓘ | -222.3 | 1.3 | -7.3 | 3.7 | 6.4 | 4 | 7.5 | -6.9 | 19.7 | 8.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.1% | 19.7% | 13.2% | 31.7% | ||||
| Adj EPS ⓘ | 9% | 13.5% | 5.3% | 35% | ||||
| BVPSⓘ | 10.6% | 10.6% | 10% | 10.1% | ||||
| Share Price | 13% | 40.1% | 41.2% | 35.7% | ||||
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 % ⓘ | 12.1 | 12.7 | 12.7 | 12.4 | 9.3 | 12.5 | 12.2 | 11.6 | 8.9 | 10.7 | 11.2 |
| Op. Profit Mgn % ⓘ | 12.7 | 11.8 | 12.9 | 12.5 | 11.5 | 9.7 | 10.3 | 9.4 | 10.7 | 9.5 | 9.3 |
| Net Profit Mgn % ⓘ | 5.5 | 5.6 | 5.9 | 5.5 | 4.7 | 4.5 | 4.5 | 4 | 3.8 | 3.9 | 4.1 |
| Debt to Equity ⓘ | 0.5 | 0.2 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.8 | 0.7 | 0.7 | 0.1 |
| Working Cap Days ⓘ | 157 | 167 | 194 | 238 | 317 | 275 | 306 | 269 | 346 | 306 | 132 |
| Cash Conv. Cycle ⓘ | 77 | 99 | 127 | 160 | 218 | 173 | 172 | 161 | 203 | 179 | 45 |
Return on Equity has increased versus last 3 years average to 11.20%
Sales growth is growing at healthy rate in last 3 years 13.23%
Debt to equity has declined versus last 3 years average to 0.65
Sales growth is good in last 4 quarters at 20.78%
Net Profit has been subdued in last 3 years 5.27%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 29.9 | 27 |
| TTM Sales (₹ Cr.) | 398 | 371 |
| BVPS (₹.) ⓘ | 273 | 260.9 |
| Reserves (₹ Cr.) ⓘ | 144 | 137 |
| P/BV ⓘ | 2.06 | 2.15 |
| PE ⓘ | 18.77 | 20.83 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 341.05 / 900.00 |
| All Time Low / High (₹) | 1.21 / 900.00 |
| Market Cap (₹ Cr.) | 307 |
| Equity (₹ Cr.) | 5.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 59.3 |
| 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 | 113 | 127 | 136 | 158 | 151 | 237 | 255 | 303 | 281 | 371 |
| Operating Expenses ⓘ | 98 | 112 | 119 | 139 | 134 | 214 | 229 | 275 | 251 | 336 |
| Manufacturing Costs | 19 | 22 | 27 | 30 | 25 | 42 | 44 | 43 | 42 | 51 |
| Material Costs | 63 | 71 | 71 | 83 | 85 | 143 | 146 | 189 | 174 | 244 |
| Employee Cost | 6 | 7 | 8 | 8 | 9 | 10 | 12 | 12 | 13 | 15 |
| Other Costs ⓘ | 10 | 12 | 12 | 17 | 14 | 20 | 27 | 31 | 22 | 25 |
| Operating Profit ⓘ | 14 | 15 | 17 | 20 | 17 | 23 | 26 | 28 | 30 | 35 |
| Operating Profit Margin (%) | 12.7% | 11.8% | 12.7% | 12.4% | 11.5% | 9.7% | 10.2% | 9.3% | 10.7% | 9.5% |
| Other Income ⓘ | 0 | 0 | 1 | 0 | 1 | 2 | 1 | 1 | 1 | 2 |
| Interest ⓘ | 3 | 2 | 3 | 5 | 5 | 7 | 8 | 9 | 12 | 13 |
| Depreciation ⓘ | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 10 | 11 | 12 | 13 | 11 | 15 | 15 | 17 | 15 | 20 |
| Tax ⓘ | 3 | 4 | 4 | 4 | 3 | 3 | 4 | 4 | 4 | 5 |
| Profit After Tax | 6 | 7 | 8 | 9 | 7 | 11 | 11 | 12 | 11 | 15 |
| PAT Margin (%) | 5.5% | 5.6% | 5.8% | 5.4% | 4.8% | 4.8% | 4.5% | 4.1% | 4.0% | 4.0% |
| Adjusted EPS (₹) | 12.2 | 14.1 | 15.6 | 17.0 | 14.4 | 22.3 | 22.4 | 24.5 | 20.5 | 26.9 |
| Dividend Payout Ratio (%) | 18% | 16% | 16% | 15% | 17% | 11% | 11% | 11% | 15% | 11% |
| 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 | 53 | 59 | 67 | 74 | 80 | 90 | 100 | 111 | 130 | 143 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 48 | 54 | 62 | 69 | 75 | 84 | 94 | 106 | 124 | 137 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 25 | 10 | 24 | 30 | 42 | 45 | 64 | 88 | 94 | 88 |
| Long Term Debt | 3 | 6 | 6 | 8 | 10 | 13 | 14 | 29 | 20 | 15 |
| Short Term Debt | 22 | 5 | 17 | 22 | 32 | 31 | 49 | 59 | 74 | 73 |
| Trade Payables | 14 | 12 | 20 | 31 | 29 | 64 | 59 | 40 | 76 | 74 |
| Others Liabilities ⓘ | 11 | 15 | 18 | 12 | 41 | 62 | 60 | 46 | 61 | 66 |
| Total Liabilities ⓘ | 104 | 97 | 128 | 148 | 191 | 261 | 282 | 284 | 360 | 371 |
Fixed Assets | ||||||||||
| Gross Block | 39 | 41 | 44 | 44 | 48 | 62 | 74 | 82 | 86 | 88 |
| Accumulated Depreciation | 16 | 18 | 21 | 23 | 26 | 28 | 32 | 35 | 39 | 42 |
| Net Fixed Assetsⓘ | 23 | 23 | 23 | 21 | 22 | 33 | 43 | 47 | 47 | 45 |
| CWIP ⓘ | 0 | 0 | 1 | 0 | 0 | 3 | 1 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 26 | 23 | 29 | 51 | 72 | 101 | 103 | 98 | 150 | 170 |
| Trade Receivables | 23 | 35 | 57 | 62 | 65 | 91 | 92 | 91 | 111 | 106 |
| Cash Equivalents | 22 | 6 | 14 | 10 | 24 | 11 | 23 | 6 | 11 | 5 |
| Others Assetsⓘ | 9 | 10 | 5 | 4 | 9 | 20 | 21 | 42 | 42 | 45 |
| Total Assets ⓘ | 104 | 97 | 128 | 148 | 191 | 261 | 282 | 284 | 360 | 371 |
| 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 ⓘ | 0 | 8 | -3 | 8 | 7 | 11 | 8 | -13 | 5 | 11 |
| PBT ⓘ | 10 | 11 | 12 | 13 | 11 | 15 | 15 | 17 | 15 | 20 |
| Adjustment ⓘ | 5 | 4 | 3 | 5 | 6 | 9 | 10 | 12 | 15 | 16 |
| Changes in Working Capital ⓘ | -11 | -3 | -15 | -6 | -5 | -9 | -14 | -37 | -22 | -17 |
| Tax Paid ⓘ | -3 | -4 | -4 | -4 | -4 | -4 | -4 | -5 | -4 | -8 |
| Cash Flow From Investing Activity ⓘ | -1 | -6 | -1 | -1 | -3 | -17 | -9 | -6 | -3 | -1 |
| Capex | -4 | -3 | -3 | -1 | -4 | -18 | -10 | -7 | -4 | -2 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 3 | -3 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | 7 | -18 | 11 | -11 | 6 | -6 | 10 | 14 | 3 | -17 |
| Net Proceeds from Shares ⓘ | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 9 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 1 | 2 | 2 | 3 | 1 | 15 | -9 | -4 |
| Interest Paid ⓘ | -3 | -2 | -1 | -3 | -4 | -7 | -8 | -9 | -12 | -13 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -2 | -1 | -1 | -1 | -1 | -1 | -2 |
| Others ⓘ | 9 | -16 | 13 | -8 | 9 | -1 | 18 | 9 | 17 | 2 |
| Net Cash Flow ⓘ | 6 | -16 | 6 | -4 | 10 | -12 | 9 | -5 | 5 | -7 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 12.08 | 12.69 | 12.53 | 12.21 | 9.51 | 13.35 | 12.03 | 11.8 | 9.31 | 10.79 |
| ROCE (%) | 17.26 | 17.5 | 19.07 | 17.95 | 13.74 | 17.21 | 15.74 | 14.29 | 12.95 | 14.34 |
| Asset Turnover Ratio | 1.29 | 1.37 | 1.32 | 1.15 | 0.89 | 1.05 | 0.94 | 1.07 | 0.87 | 1.02 |
| PAT to CFO Conversion(x) | 0 | 1.14 | -0.38 | 0.89 | 1 | 1 | 0.73 | -1.08 | 0.45 | 0.73 | Working Capital Days |
| Receivable Days | 54 | 77 | 113 | 136 | 154 | 120 | 131 | 110 | 131 | 107 |
| Inventory Days | 75 | 65 | 64 | 92 | 148 | 133 | 146 | 121 | 160 | 157 |
| Payable Days | 81 | 66 | 81 | 112 | 129 | 119 | 154 | 96 | 122 | 112 |
Patels Airtemp (PAT) was incorporated in 1973. It fused technical expertise with innovation to achieve a remarkable growth and an efficacious nationwide presence. The growth saga was further strengthened in 1993, when it became a limited entity and thus was born, Patels Airtemp (India) Limited.
PAT was the result of the conscious and dedicated efforts of a team of committed Engineers and Promoter - Directors. An experience of over three decades in the field of design and manufacturing was instrumental in its upbringing. Today, PAT stands proudly as one of the leading manufacturers of high quality engineering products. The success in attaining its strategic objective of nationwide presence, was made possible due to the expansion and diversification policies. The journey of the company began with a single manufacturing unit in 1973 and presently the company has two manufacturing units - both equipped with stat-of-the-art production facilities. Expansion facilitated PAT to concentrate on a much wider range of products.
Product range of the company includes:
Industrial Product
Trunkey Project
Domestic Consumer Products
PAT has attained a key position as one of the leading suppliers to the core industrial sectors like -
Projects undertaken.
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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