BSE: 0 | NSE: HIGREEN | Carbon Black | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Hi-Green Carbon Ltd is a average quality company.
The key valuation ratios of Hi-Green Carbon 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 Semi Strong which suggest that the price of Hi-Green Carbon 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'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 2.4% | 21.9% | 52.8% | 22.1% | - |
| Value Creation Index ⓘ | -0.8 | 0.6 | 2.8 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 24.3 | 51.1 | 78 | 70.3 | 70 |
| Sales YoY Gr. | - | 110.6% | 52.5% | -9.9% | - |
| Adj EPS ⓘ | 0.1 | 1.9 | 6.5 | 4.1 | 4.1 |
| YoY Gr. | - | 3760% | 235.2% | -36.9% | - |
| BVPS (₹) ⓘ | 4.2 | 6.2 | 12.8 | 30.2 | 30.2 |
| Adj Net Profit ⓘ | 0.1 | 3.7 | 12.3 | 10.2 | 10 |
| Cash Flow from Ops. ⓘ | -1.2 | 6.7 | 9.9 | -1.9 | - |
| Debt/CF from Ops. ⓘ | -15 | 2.4 | 1.4 | -12.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 42.5% | -9.9% | ||||
| Adj EPS ⓘ | NA | NA | 333.7% | -36.9% | ||||
| BVPSⓘ | NA | NA | 92.5% | 136.7% | ||||
| Share Price | - | - | - | 70.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.2 | 37 | 68.3 | 20.5 | 13.6 |
| Op. Profit Mgn % ⓘ | 13.5 | 17.3 | 25.7 | 25.5 | NAN |
| Net Profit Mgn % ⓘ | 0.4 | 7.2 | 15.8 | 14.5 | 14.6 |
| Debt to Equity ⓘ | 2.2 | 1.4 | 0.6 | 0.3 | - |
| Working Cap Days ⓘ | 0 | 101 | 94 | 234 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 50 | 48 | 80 | 0 |
Sales growth is growing at healthy rate in last 3 years 42.51%
Net Profit is growing at healthy rate in last 3 years 333.74%
Debt to equity has declined versus last 3 years average to 0.32
Return on Equity has declined versus last 3 years average to 13.60%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.1 | 4.1 |
| TTM Sales (₹ Cr.) | 70.3 | 70.3 |
| BVPS (₹.) ⓘ | 30.2 | 30.2 |
| Reserves (₹ Cr.) ⓘ | 51 | 51 |
| P/BV ⓘ | 8.73 | 8.73 |
| PE ⓘ | 64.14 | 64.14 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 659 |
| Equity (₹ Cr.) | 25 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 28 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 24 | 51 | 78 | 70 |
| Operating Expenses ⓘ | 21 | 42 | 58 | 52 |
| Manufacturing Costs | 2 | 5 | 4 | 5 |
| Material Costs | 16 | 33 | 48 | 42 |
| Employee Cost | 1 | 1 | 1 | 1 |
| Other Costs ⓘ | 2 | 3 | 4 | 4 |
| Operating Profit ⓘ | 3 | 9 | 20 | 18 |
| Operating Profit Margin (%) | 13.5% | 17.3% | 25.7% | 25.5% |
| Other Income ⓘ | 0 | 0 | 0 | 0 |
| Interest ⓘ | 0 | 1 | 1 | 1 |
| Depreciation ⓘ | 3 | 3 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 5 | 16 | 14 |
| Tax ⓘ | 0 | 1 | 4 | 4 |
| Profit After Tax | 0 | 4 | 12 | 10 |
| PAT Margin (%) | 0.4% | 7.2% | 15.8% | 14.6% |
| Adjusted EPS (₹) | 0.1 | 1.9 | 6.5 | 4.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 8 | 12 | 24 | 76 | ||||||
| Share Capital ⓘ | 19 | 19 | 19 | 25 | ||||||
| Reserves ⓘ | -11 | -7 | 5 | 51 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 17 | 15 | 13 | 21 | ||||||
| Long Term Debt | 14 | 12 | 4 | 14 | ||||||
| Short Term Debt | 3 | 3 | 9 | 7 | ||||||
| Trade Payables | 7 | 5 | 4 | 1 | ||||||
| Others Liabilities ⓘ | -2 | -1 | 4 | 9 | ||||||
| Total Liabilities ⓘ | 30 | 31 | 45 | 105 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 36 | 40 | 45 | 48 | ||||||
| Accumulated Depreciation | 21 | 24 | 27 | 30 | ||||||
| Net Fixed Assetsⓘ | 16 | 17 | 18 | 18 | ||||||
| CWIP ⓘ | 0 | 0 | 2 | 8 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 5 | ||||||
| Inventories | 10 | 9 | 12 | 11 | ||||||
| Trade Receivables | 3 | 5 | 6 | 8 | ||||||
| Cash Equivalents | 0 | 0 | 0 | 10 | ||||||
| Others Assetsⓘ | 0 | 0 | 8 | 45 | ||||||
| Total Assets ⓘ | 30 | 31 | 45 | 105 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 7 | 10 | -2 |
| PBT ⓘ | 0 | 5 | 16 | 14 |
| Adjustment ⓘ | 3 | 4 | 4 | 4 |
| Changes in Working Capital ⓘ | -5 | -2 | -10 | -15 |
| Tax Paid ⓘ | 0 | 0 | 0 | -5 |
| Cash Flow From Investing Activity ⓘ | -1 | -4 | -6 | -38 |
| Capex | -1 | -4 | -6 | -9 |
| Net Investments | 0 | 0 | 0 | -5 |
| Others ⓘ | 0 | 0 | 0 | -24 |
| Cash Flow From Financing Activityⓘ | 2 | -3 | -4 | 50 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 41 |
| Net Proceeds from Borrowing ⓘ | 2 | -2 | 1 | 10 |
| Interest Paid ⓘ | 0 | -1 | -1 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 0 | -3 | 0 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 10 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.19 | 37.16 | 68.6 | 20.6 | ||||||
| ROCE (%) | 2.36 | 21.86 | 52.78 | 22.08 | ||||||
| Asset Turnover Ratio | 0.81 | 1.67 | 2.03 | 0.93 | ||||||
| PAT to CFO Conversion(x) | N/A | 1.75 | 0.83 | -0.2 | Working Capital Days | |||||
| Receivable Days | 44 | 28 | 25 | 35 | ||||||
| Inventory Days | 156 | 70 | 51 | 61 | ||||||
| Payable Days | 159 | 65 | 35 | 22 | ||||||
Hi-Green Carbon was originally incorporated as ‘Shantol Green Hydrocarbons (India) Private Limited’ as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated August 29, 2011, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, the name of the company was changed from ‘Shantol Green Hydrocarbons (India) Private Limited’ to ‘Shantol Green Energy (India) Private Limited’, pursuant to a special resolution passed by its Shareholders in the Extra-Ordinary General Meeting held on October 31, 2011, vide Certificate of Incorporation dated November 04, 2011, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Later on, the name of the company was changed from ‘Shantol Green Energy (India) Private Limited’ to ‘Shantol Green (India) Private Limited’, pursuant to a special resolution passed by its Shareholders in the Extra-Ordinary General Meeting held on February 28, 2017, vide Certificate of Incorporation dated March 15, 2017 issued by the Registrar of Companies, Ahmedabad. Thereafter, the name of the company was changed from ‘Shantol Green (India) Private Limited’ to ‘Hi-Green Carbon Private Limited’, pursuant to a special resolution passed by its Shareholders in the Annual General Meeting held on September 12, 2022, vide Certificate of Incorporation dated September 21, 2022 issued by the Registrar of Companies, Ahmedabad. Further, the company was converted from a private limited company to public limited company, pursuant to a special resolution passed by its Shareholders in the Extra-Ordinary General Meeting held on February 14, 2023 and consequently, the name of the company was changed to ‘Hi-Green Carbon Limited’ and a fresh certificate of incorporation dated March 21, 2023 was issued to the company by the Registrar of Companies, Ahmedabad.
Hi-Green Carbon is engaged in the business of waste tyres recycling. Its manufacturing plant operates on continuous pyrolysis process. It is an uninterrupted working method with continuous feeding and discharging system controlled by the program logic controller system. The process is fully automatic and requires almost no human intervention. Following continuous pyrolysis, the company processes the end-of-life tyres (ELTs) pieces to produce energy components and raw materials. Its major products are Recovered Carbon Black (RCB) and Steel Wires under Raw Material Category, Fuel Oil and Synthesis Gas under Energy components category. In order to utilise the energy in efficient manner, the company utilises said synthesis gas, produced as by product of the pyrolysis process, for also manufacturing sodium silicate commonly known as raw glass.
The company follows the highest quality practice and compliant with Highest Environmental, Health, and Safety (EHS) in recycle industries. The company has modern, Supervisory Control and Data Acquisition (SCADA) operated in integrated recycling plant at its manufacturing plant situated in Rajasthan. Its production facility at Rajasthan is installed with capacity of recycling of 100 MT waste tyres per day. The company has been certified with Environmental Management Measures with ISO 14001:2015, Occupational Health & Safety Management standards with ISO 45001:2018, Quality Management Standards with ISO 9001:2015, Good Manufacturing Practice (GMP) and RoHS. Its product is REACH complied in terms of sustainability standards.
Business area of the company
The company is engaged in the business of waste tyres recycling.
Products of the company
History and milestones
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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.
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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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