Past 10 year's financial track record analysis by Moneyworks4me indicates that Keltech Energies Ltd is a good quality company.
The key valuation ratios of Keltech Energies 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 Keltech Energies 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.3% | 15.1% | 18.1% | 18.4% | 20.1% | 14.3% | 10.4% | 6.3% | 11.9% | 20.9% | - |
| Value Creation Index ⓘ | 0.6 | 0.1 | 0.3 | 0.3 | 0.4 | 0.0 | -0.3 | -0.6 | -0.2 | 0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 155 | 192 | 179 | 201 | 202 | 226 | 216 | 220 | 355 | 563 | 447 |
| Sales YoY Gr. | - | 24.2% | -6.5% | 12.1% | 0.5% | 12% | -4.6% | 2% | 61.1% | 58.7% | - |
| Adj EPS ⓘ | 59 | 34.2 | 50.7 | 59.4 | 77 | 60.3 | 47.2 | 41 | 62.7 | 112.5 | 228.9 |
| YoY Gr. | - | -42.1% | 48.3% | 17.3% | 29.6% | -21.7% | -21.6% | -13.2% | 52.8% | 79.6% | - |
| BVPS (₹) ⓘ | 339.8 | 361.3 | 399.4 | 454.2 | 528.5 | 582.1 | 621.8 | 638.8 | 703.5 | 812.3 | 1,115.4 |
| Adj Net Profit ⓘ | 5.9 | 3.4 | 5.1 | 5.9 | 7.7 | 6 | 4.7 | 4.1 | 6.3 | 11.3 | 23 |
| Cash Flow from Ops. ⓘ | 12.2 | 7.4 | 6 | 13.1 | 10.8 | 2.3 | 5.5 | 7.7 | 20.6 | 18.3 | - |
| Debt/CF from Ops. ⓘ | 1.6 | 2.4 | 3.6 | 1.9 | 1.8 | 10 | 4.1 | 2.9 | 1.4 | 1.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.5% | 22.7% | 37.6% | 58.7% | ||||
| Adj EPS ⓘ | 7.4% | 7.9% | 33.6% | 79.6% | ||||
| BVPSⓘ | 10.2% | 9% | 9.3% | 15.5% | ||||
| Share Price | 16.7% | 41.5% | 68.6% | 21.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 19 | 9.8 | 13.3 | 13.9 | 15.7 | 10.9 | 7.8 | 6.5 | 9.3 | 14.9 | 23.8 |
| Op. Profit Mgn % ⓘ | 8.1 | 6.1 | 7.2 | 8.1 | 9.5 | 6.7 | 6.4 | 6.1 | 4.2 | 4.6 | 7.3 |
| Net Profit Mgn % ⓘ | 3.8 | 1.8 | 2.8 | 3 | 3.8 | 2.7 | 2.2 | 1.9 | 1.8 | 2 | 5.1 |
| Debt to Equity ⓘ | 0.6 | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0 |
| Working Cap Days ⓘ | 108 | 92 | 97 | 91 | 97 | 101 | 126 | 126 | 92 | 70 | 64 |
| Cash Conv. Cycle ⓘ | -2 | 3 | 8 | 13 | 26 | 30 | 33 | 29 | 22 | 21 | 17 |
Return on Equity has increased versus last 3 years average to 23.80%
Sales growth is growing at healthy rate in last 3 years 37.63%
Net Profit is growing at healthy rate in last 3 years 33.57%
Sales growth is not so good in last 4 quarters at -14.85%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 228.9 | - |
| TTM Sales (₹ Cr.) | 447 | - |
| BVPS (₹.) ⓘ | 1,115.4 | - |
| Reserves (₹ Cr.) ⓘ | 111 | - |
| P/BV ⓘ | 3.15 | - |
| PE ⓘ | 15.36 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 2253.00 / 5095.00 |
| All Time Low / High (₹) | 4.05 / 5095.00 |
| Market Cap (₹ Cr.) | 352 |
| Equity (₹ Cr.) | 1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.2 |
| 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 | 192 | 179 | 201 | 202 | 226 | 216 | 220 | 355 | 563 | 449 |
| Operating Expenses ⓘ | 180 | 166 | 185 | 183 | 211 | 202 | 207 | 340 | 537 | 417 |
| Manufacturing Costs | 19 | 17 | 20 | 23 | 24 | 23 | 21 | 28 | 34 | 36 |
| Material Costs | 127 | 115 | 118 | 114 | 136 | 126 | 133 | 256 | 438 | 303 |
| Employee Cost | 11 | 11 | 12 | 13 | 14 | 15 | 16 | 18 | 27 | 30 |
| Other Costs ⓘ | 23 | 24 | 34 | 34 | 38 | 38 | 36 | 38 | 39 | 47 |
| Operating Profit ⓘ | 12 | 13 | 16 | 19 | 15 | 14 | 13 | 15 | 26 | 32 |
| Operating Profit Margin (%) | 6.1% | 7.2% | 8.1% | 9.4% | 6.7% | 6.4% | 6.1% | 4.2% | 4.6% | 7.2% |
| Other Income ⓘ | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 2 | 2 | 5 |
| Interest ⓘ | 3 | 3 | 3 | 3 | 3 | 2 | 2 | 3 | 5 | 4 |
| Depreciation ⓘ | 4 | 4 | 4 | 5 | 5 | 6 | 5 | 6 | 6 | 7 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -3 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 8 | 9 | 11 | 8 | 6 | 3 | 8 | 17 | 26 |
| Tax ⓘ | 2 | 3 | 3 | 4 | 2 | 1 | 1 | 2 | 5 | 7 |
| Profit After Tax | 3 | 5 | 6 | 8 | 6 | 5 | 2 | 7 | 12 | 19 |
| PAT Margin (%) | 1.8% | 2.8% | 2.9% | 3.7% | 2.7% | 2.2% | 0.9% | 1.9% | 2.1% | 4.3% |
| Adjusted EPS (₹) | 34.2 | 50.7 | 58.4 | 75.5 | 60.3 | 47.4 | 18.8 | 66.3 | 119.2 | 194.2 |
| Dividend Payout Ratio (%) | 7% | 5% | 4% | 3% | 4% | 3% | 8% | 2% | 1% | 1% |
| 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 | 36 | 40 | 45 | 53 | 58 | 62 | 64 | 70 | 81 | 100 |
| Share Capital ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves ⓘ | 35 | 39 | 44 | 52 | 57 | 61 | 63 | 69 | 80 | 99 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 13 | 17 | 19 | 13 | 19 | 19 | 19 | 24 | 24 | 19 |
| Long Term Debt | 8 | 10 | 11 | 9 | 4 | 3 | 7 | 11 | 10 | 5 |
| Short Term Debt | 5 | 7 | 8 | 5 | 16 | 16 | 12 | 13 | 15 | 14 |
| Trade Payables | 30 | 23 | 28 | 22 | 34 | 33 | 39 | 55 | 58 | 65 |
| Others Liabilities ⓘ | 24 | 24 | 27 | 23 | 29 | 26 | 25 | 36 | 42 | 40 |
| Total Liabilities ⓘ | 103 | 104 | 119 | 111 | 140 | 140 | 147 | 185 | 205 | 223 |
Fixed Assets | ||||||||||
| Gross Block | 64 | 47 | 62 | 67 | 72 | 76 | 80 | 102 | 105 | 115 |
| Accumulated Depreciation | 19 | 4 | 6 | 11 | 16 | 21 | 26 | 32 | 36 | 43 |
| Net Fixed Assetsⓘ | 45 | 43 | 56 | 56 | 56 | 54 | 54 | 70 | 69 | 71 |
| CWIP ⓘ | 0 | 6 | 1 | 1 | 1 | 3 | 6 | 1 | 1 | 1 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 10 | 20 |
| Inventories | 13 | 12 | 14 | 15 | 18 | 19 | 20 | 36 | 40 | 35 |
| Trade Receivables | 28 | 22 | 32 | 28 | 39 | 38 | 40 | 46 | 62 | 48 |
| Cash Equivalents | 4 | 4 | 4 | 3 | 9 | 8 | 10 | 7 | 9 | 32 |
| Others Assetsⓘ | 13 | 17 | 13 | 8 | 17 | 18 | 18 | 18 | 14 | 15 |
| Total Assets ⓘ | 103 | 104 | 119 | 111 | 140 | 140 | 147 | 185 | 205 | 223 |
| 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 ⓘ | 7 | 6 | 13 | 11 | 2 | 5 | 8 | 21 | 18 | 51 |
| PBT ⓘ | 5 | 8 | 9 | 11 | 8 | 6 | 3 | 8 | 17 | 26 |
| Adjustment ⓘ | 6 | 5 | 7 | 9 | 6 | 5 | 7 | 7 | 10 | 8 |
| Changes in Working Capital ⓘ | -2 | -4 | -1 | -5 | -9 | -3 | -1 | 6 | -4 | 26 |
| Tax Paid ⓘ | -2 | -3 | -2 | -4 | -3 | -4 | -1 | -1 | -5 | -9 |
| Cash Flow From Investing Activity ⓘ | -2 | -7 | -12 | -4 | -5 | -3 | -7 | -23 | -8 | -17 |
| Capex | -3 | -7 | -12 | -4 | -5 | -4 | -7 | -16 | -5 | -9 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -7 | -3 | -8 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -5 | 1 | -1 | -8 | 4 | -2 | -3 | 2 | -4 | -11 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -3 | 2 | 2 | -1 | -5 | -1 | 4 | 4 | 1 | -7 |
| Interest Paid ⓘ | -3 | -2 | -3 | -3 | -2 | -2 | -2 | -3 | -5 | -4 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 2 | 2 | 1 | -4 | 11 | 0 | -5 | 1 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | -1 | 1 | 0 | -2 | -1 | 6 | 23 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9.76 | 13.33 | 13.68 | 15.37 | 10.85 | 7.87 | 2.98 | 9.88 | 15.73 | 21.48 |
| ROCE (%) | 15.07 | 18.07 | 18.35 | 20.11 | 14.28 | 10.42 | 6.26 | 11.94 | 20.85 | 25.93 |
| Asset Turnover Ratio | 2.04 | 1.92 | 1.99 | 1.8 | 1.81 | 1.54 | 1.53 | 2.14 | 2.89 | 2.1 |
| PAT to CFO Conversion(x) | 2.33 | 1.2 | 2.17 | 1.38 | 0.33 | 1 | 4 | 3 | 1.5 | 2.68 | Working Capital Days |
| Receivable Days | 45 | 46 | 45 | 53 | 54 | 65 | 64 | 44 | 35 | 45 |
| Inventory Days | 23 | 23 | 21 | 25 | 27 | 32 | 33 | 29 | 25 | 30 |
| Payable Days | 88 | 84 | 78 | 80 | 74 | 97 | 99 | 67 | 47 | 74 |
Keltech Energies, (KEL), formerly known as Karnataka Explosive, a public limited company established in 1977 is a member of the renowned Chowgule Group of Goa. The group is in the fields of mining, shipping, shipbuilding, chemicals, explosives, expanded perlite, breweries and many other industries.
Keltech Energies manufactures watergel cartridge explosives, bulk emulsion explosives, mono methyl amine nitrate (MMAN) solution and a variety of expanded perlite products. Apart from the domestic market, KEL’s watergel explosives, MMAN and perlite products are also being exported to other countries.
Expanded perlite is manufactured by Keltech Energies, perlite division at Vishwasnagar near Mangalore, Karnataka. This plant setup in 1985 with technical assistance from Silibrico Corporation Inc., U S A produces a wide range of perlite products to meet the requirement of the following industries:
The company added a second expander in 1997 to cater to the needs of the markets in northern India. The company also has a portable expander to carryout site expansion and filling of annular space of cryogenic tanks.
KEL Perlite is a registered member of the Perlite Institute Inc., U S A and has access to the latest technical information in the application of expanded perlite. The ore for expansion is imported from Greece, Turkey, New Zealand, U S A and is selected based on the application.
KEL is an ISO certified company and has expertise to carryout thermal insulation work of cryogenic tanks.
Marketing all perlite products and turnkey installation jobs is undertaken by Chowgule Industries, a sister concern of KEL.
KEL also undertakes turnkey installation of in-situ light weight perlite-concrete blocks for base insulation of cryogenic tanks and annular insulation filling of double wall LNG tanks.
Tie Ups
KEL obtained the technology for manufacturing Watergel explosives from M/s Dupont de Nemours Co. Inc.,USA.
The company had another technical collaboration with M/s Silbrico Corporation, USA for manufacturing expanded perlite products for use in construction, low temperature insulation, refractory, fillers, foundry, medicine carrier, thermoplastics, horticultural and other applications.
KEL is a member of the International Society of Explosives Engineers as well as the Perlite Institute Inc.
Products of Company
Achievements/ recognition
In September 2000, the company obtained ISO 9002 accreditation through Det Norske Vertias. This was upgraded to ISO 9001-2000 version in 2002.
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