BSE: 0 | NSE: AERON | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Aeron Composite Ltd is a good quality company.
The key valuation ratios of Aeron Composite 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 Aeron Composite 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 % ⓘ | 19.6% | 16.7% | 21.6% | 16.4% | 22.3% | 27.4% | 24.9% | 20.7% | 24.4% | 33.1% | - |
| Value Creation Index ⓘ | 0.4 | 0.2 | 0.5 | 0.2 | 0.6 | 1.0 | 0.8 | 0.5 | 0.7 | 1.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 11.8 | 17.9 | 28.5 | 29.8 | 44.9 | 62.8 | 77.4 | 78.8 | 108 | 179 | 200 |
| Sales YoY Gr. | - | 51.8% | 59.1% | 4.6% | 50.5% | 40% | 23.2% | 1.8% | 37.5% | 65.6% | - |
| Adj EPS ⓘ | 0.3 | 0.4 | 0.6 | 0.6 | 1.1 | 2.1 | 2.5 | 2.4 | 2.8 | 4.2 | 5.9 |
| YoY Gr. | - | 48% | 62.2% | 1.7% | 78.7% | 91.7% | 17.2% | -0.8% | 15.2% | 51.1% | - |
| BVPS (₹) ⓘ | 1.6 | 2 | 2.6 | 3.3 | 4.4 | 6.5 | 9.3 | 11.6 | 15 | 20.2 | 54.3 |
| Adj Net Profit ⓘ | 0.3 | 0.4 | 0.6 | 0.6 | 1.1 | 2.2 | 2.6 | 2.5 | 2.9 | 5.3 | 10 |
| Cash Flow from Ops. ⓘ | 1.4 | 1 | 2.1 | 1.8 | 0.1 | 3.2 | 5.6 | 3.6 | 0 | 1.2 | - |
| Debt/CF from Ops. ⓘ | 2.3 | 6.4 | 3.2 | 4 | 71 | 3 | 2.4 | 2.9 | 1037.6 | 12 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 35.3% | 31.9% | 32.3% | 65.6% | ||||
| Adj EPS ⓘ | 36.9% | 31.2% | 20% | 51.1% | ||||
| BVPSⓘ | 32.3% | 35.6% | 29.6% | 35.2% | ||||
| Share Price | - | - | - | - | ||||
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 % ⓘ | 16.6 | 17.9 | 21.6 | 17.8 | 26.7 | 38.2 | 31 | 23.3 | 21.1 | 25.9 | 15.9 |
| Op. Profit Mgn % ⓘ | 9.7 | 9.3 | 9.3 | 7.8 | 6.9 | 7.3 | 7.4 | 8 | 5.8 | 5.7 | NAN |
| Net Profit Mgn % ⓘ | 2.2 | 2.1 | 2.2 | 2.1 | 2.5 | 3.5 | 3.3 | 3.2 | 2.7 | 3 | 5.1 |
| Debt to Equity ⓘ | 1.9 | 2.5 | 2.1 | 1.8 | 1.6 | 1.4 | 1.4 | 0.9 | 0.8 | 0.6 | - |
| Working Cap Days ⓘ | 126 | 136 | 120 | 136 | 109 | 106 | 115 | 137 | 146 | 112 | 0 |
| Cash Conv. Cycle ⓘ | 44 | 66 | 58 | 64 | 49 | 36 | 45 | 46 | 40 | 39 | 0 |
Sales growth is growing at healthy rate in last 3 years 32.34%
Net Profit is growing at healthy rate in last 3 years 19.97%
Debt to equity has declined versus last 3 years average to 0.55
Return on Equity has declined versus last 3 years average to 15.90%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.9 | - |
| TTM Sales (₹ Cr.) | 200 | - |
| BVPS (₹.) ⓘ | 54.3 | - |
| Reserves (₹ Cr.) ⓘ | 75 | - |
| P/BV ⓘ | 2.33 | - |
| PE ⓘ | 21.29 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 215 |
| Equity (₹ Cr.) | 17 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.5 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 12 | 18 | 29 | 30 | 45 | 63 | 77 | 79 | 108 | 179 |
| Operating Expenses ⓘ | 11 | 16 | 26 | 28 | 42 | 58 | 72 | 73 | 102 | 169 |
| Manufacturing Costs | 1 | 1 | 3 | 2 | 2 | 3 | 9 | 9 | 10 | 14 |
| Material Costs | 8 | 13 | 20 | 22 | 35 | 48 | 51 | 49 | 75 | 125 |
| Employee Cost | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 6 | 7 | 11 |
| Other Costs ⓘ | 1 | 1 | 2 | 2 | 3 | 5 | 7 | 9 | 10 | 19 |
| Operating Profit ⓘ | 1 | 2 | 3 | 2 | 3 | 5 | 6 | 6 | 6 | 10 |
| Operating Profit Margin (%) | 9.7% | 9.2% | 9.3% | 7.8% | 6.8% | 7.3% | 7.2% | 8.0% | 5.8% | 5.7% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 2 | 3 |
| Interest ⓘ | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation ⓘ | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 4 | 5 | 10 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 3 |
| Profit After Tax | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 3 | 4 | 7 |
| PAT Margin (%) | 2.4% | 2.2% | 2.2% | 2.3% | 2.7% | 3.5% | 3.7% | 3.2% | 3.3% | 3.7% |
| Adjusted EPS (₹) | 0.3 | 0.4 | 0.6 | 0.7 | 1.2 | 2.1 | 2.8 | 2.5 | 3.5 | 5.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 4% | 2% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2 | 3 | 3 | 4 | 5 | 7 | 10 | 12 | 16 | 25 |
| Share Capital ⓘ | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 2 |
| Reserves ⓘ | 0 | 1 | 1 | 2 | 3 | 5 | 8 | 11 | 14 | 24 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 3 | 6 | 6 | 6 | 7 | 9 | 12 | 9 | 11 | 10 |
| Long Term Debt | 1 | 2 | 1 | 1 | 2 | 4 | 7 | 5 | 3 | 1 |
| Short Term Debt | 2 | 4 | 5 | 5 | 4 | 5 | 5 | 4 | 8 | 9 |
| Trade Payables | 2 | 3 | 4 | 5 | 7 | 11 | 10 | 18 | 28 | 22 |
| Others Liabilities ⓘ | 1 | 2 | 2 | 2 | 2 | 3 | 5 | 5 | 7 | 12 |
| Total Liabilities ⓘ | 8 | 13 | 15 | 17 | 21 | 30 | 38 | 44 | 61 | 69 |
Fixed Assets | ||||||||||
| Gross Block | 3 | 4 | 5 | 6 | 5 | 8 | 13 | 14 | 15 | 18 |
| Accumulated Depreciation | 0 | 1 | 2 | 2 | 2 | 3 | 4 | 6 | 8 | 9 |
| Net Fixed Assetsⓘ | 2 | 3 | 3 | 4 | 3 | 5 | 9 | 8 | 8 | 9 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 3 | 4 | 5 | 7 | 7 | 9 | 9 | 11 | 22 | 19 |
| Trade Receivables | 1 | 4 | 5 | 5 | 9 | 13 | 13 | 19 | 21 | 31 |
| Cash Equivalents | 0 | 1 | 1 | 0 | 0 | 1 | 4 | 1 | 1 | 2 |
| Others Assetsⓘ | 1 | 1 | 2 | 1 | 1 | 3 | 3 | 4 | 10 | 7 |
| Total Assets ⓘ | 8 | 13 | 15 | 17 | 21 | 30 | 38 | 44 | 61 | 69 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | 1 | 2 | 2 | 0 | 3 | 6 | 4 | 0 | 1 |
| PBT ⓘ | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 4 | 5 | 10 |
| Adjustment ⓘ | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 3 | 3 | 3 |
| Changes in Working Capital ⓘ | 0 | -1 | -0 | -0 | -3 | -1 | -0 | -3 | -6 | -12 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | -1 | -1 | 0 | -2 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | -1 | -1 | -1 | 0 | -3 | -5 | -2 | -2 | -3 |
| Capex | -1 | -1 | -1 | -1 | 0 | -3 | -6 | -1 | -1 | -4 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | 0 | 1 | -1 | -1 | 0 | 1 | 3 | -4 | 1 | 3 |
| Net Proceeds from Shares ⓘ | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Net Proceeds from Borrowing ⓘ | 0 | 1 | 0 | 0 | 1 | 1 | 3 | -2 | -2 | -2 |
| Interest Paid ⓘ | 0 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | -1 | 4 | 4 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 3 | -2 | -1 | 1 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 17.84 | 20.71 | 25.99 | 22.73 | 30.42 | 38.32 | 35.12 | 23.48 | 26.19 | 32.3 |
| ROCE (%) | 19.62 | 16.74 | 21.57 | 16.35 | 22.28 | 27.38 | 24.87 | 20.66 | 24.35 | 33.06 |
| Asset Turnover Ratio | 1.89 | 1.85 | 2.22 | 2.02 | 2.72 | 2.82 | 2.27 | 1.94 | 2.08 | 2.77 |
| PAT to CFO Conversion(x) | N/A | N/A | 2 | 2 | 0 | 1.5 | 2 | 1.33 | 0 | 0.14 | Working Capital Days |
| Receivable Days | 36 | 48 | 49 | 53 | 49 | 55 | 61 | 75 | 67 | 53 |
| Inventory Days | 65 | 69 | 52 | 65 | 51 | 41 | 42 | 46 | 56 | 42 |
| Payable Days | 71 | 64 | 55 | 67 | 62 | 71 | 77 | 105 | 112 | 72 |
Aeron Composite Limited was originally incorporated as Private Limited Company in the name of ‘Aeron Composite Private Limited’ under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated May 13, 2011 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on May 06, 2024 the company was converted into a Public Limited Company and consequently the name of the company was changed from ‘Aeron Composite Private Limited’ to ‘Aeron Composite Limited’ vide a fresh certificate of incorporation consequent upon conversion from private company to public company dated June 19, 2024 issued by the Registrar of Companies, Central Processing Centre.
The company is engaged in the business of manufacturing and supplying of Fiber Glass Reinforce Polymer Products i.e. Fiber Glass Reinforce Polymers (FRP) products including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. It provides comprehensive solution which includes conceptual design, prototype development, testing, manufacturing, logistic support, installation and after sales service. FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibers such as fiberglass, carbon or aramid. This combination offers numerous benefits, including corrosion resistance, chemical resistance, high strength, lightweight properties, electrical and thermal non-conductivity, and ease of fabrication.
The company’s manufacturing unit has accreditations such as ISO 9001:2015 for the scope of design, manufacturing and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP moulded gratings, FRP Cross arm, FRP poles, FRP rods and moulded mounting structure for solar panels (MMS). Further, its in-house R&D unit is registered with the “Department of Scientific & Industrial Research” for purpose of developing new products and processes. Recently, the company has been awarded with Certificate of Recognition and accorded the status of ‘Two Star Export House’ in accordance with the provisions of the Foreign Trade Policy, 2023.
Business area of the company
Aeron Composite is engaged in manufacturing and dealing in Fiber Glass Reinforce Plastic Products i.e. Cable Tray, Gratings, ROD, Pole, Structure, Profiles, Handrails etc.
Products of the company
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
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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