BSE: 0 | NSE: BAHETI | Aluminium & Aluminium Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Baheti Recycling Industries Ltd is a below average quality company.
The key valuation ratios of Baheti Recycling Industries 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 Baheti Recycling Industries 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 % ⓘ | 9.9% | 7.7% | 9.1% | 8.4% | 9.3% | 7.9% | 8.6% | 13% | 14.7% | 15.6% | - |
| Value Creation Index ⓘ | -0.3 | -0.5 | -0.4 | -0.4 | -0.3 | -0.4 | -0.4 | -0.1 | 0.1 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 61.8 | 57.2 | 72 | 117 | 148 | 106 | 127 | 248 | 360 | 429 | 429 |
| Sales YoY Gr. | - | -7.5% | 25.8% | 63.2% | 25.7% | -28.4% | 20.5% | 94.9% | 44.9% | 19.3% | - |
| Adj EPS ⓘ | 0.3 | 0.4 | 0.4 | 0.5 | 0.7 | 0.1 | 0.6 | 3.5 | 4.8 | 6.9 | 6.9 |
| YoY Gr. | - | 26.7% | 15.8% | 4.6% | 60.9% | -86.5% | 500% | 481.7% | 36.1% | 46.1% | - |
| BVPS (₹) ⓘ | 14.4 | 14.8 | 15.2 | 15.7 | 16.5 | 16.5 | 17.3 | 22 | 33.2 | 40.2 | 40.2 |
| Adj Net Profit ⓘ | 0.2 | 0.2 | 0.3 | 0.3 | 0.5 | 0.1 | 0.4 | 2.7 | 4.9 | 7.2 | 7 |
| Cash Flow from Ops. ⓘ | 0 | 0 | -0.1 | -0.7 | 3.4 | 5.6 | -1.1 | 2.9 | -8.7 | -10.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | -337.7 | -40.9 | 8.3 | 5.6 | -33.4 | 17.7 | -8.1 | -9.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 24% | 23.8% | 49.9% | 19.3% | ||||
| Adj EPS ⓘ | 41.8% | 56.5% | 126.2% | 46.1% | ||||
| BVPSⓘ | 12.1% | 19.5% | 32.4% | 20.9% | ||||
| Share Price | - | - | - | 114.4% | ||||
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 % ⓘ | 2.1 | 2.6 | 2.9 | 3 | 4.6 | 0.6 | 3.6 | 19.3 | 19.3 | 18.9 | 17.3 |
| Op. Profit Mgn % ⓘ | 4.2 | 3.3 | 3.4 | 2.5 | 2.6 | 3.4 | 3.3 | 3 | 3.6 | 4.7 | NAN |
| Net Profit Mgn % ⓘ | 0.3 | 0.4 | 0.4 | 0.3 | 0.3 | 0.1 | 0.3 | 1.1 | 1.4 | 1.7 | 1.7 |
| Debt to Equity ⓘ | 1.6 | 1.4 | 1.9 | 2.9 | 2.8 | 3 | 3.5 | 3 | 2.1 | 2.4 | - |
| Working Cap Days ⓘ | 122 | 122 | 100 | 93 | 93 | 133 | 135 | 95 | 97 | 112 | 0 |
| Cash Conv. Cycle ⓘ | 102 | 105 | 84 | 76 | 77 | 113 | 105 | 71 | 75 | 89 | 0 |
Sales growth is growing at healthy rate in last 3 years 49.89%
Net Profit is growing at healthy rate in last 3 years 126.15%
Debt to equity has declined versus last 3 years average to 2.44
Return on Equity has declined versus last 3 years average to 17.30%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6.9 | - |
| TTM Sales (₹ Cr.) | 429 | - |
| BVPS (₹.) ⓘ | 40.2 | - |
| Reserves (₹ Cr.) ⓘ | 31 | - |
| P/BV ⓘ | 9.51 | - |
| PE ⓘ | 55.01 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 396 |
| Equity (₹ Cr.) | 10.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 13 |
| Pledged * | 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 | 62 | 57 | 72 | 117 | 148 | 106 | 127 | 248 | 360 | 429 |
| Operating Expenses ⓘ | 59 | 55 | 70 | 115 | 144 | 102 | 123 | 241 | 347 | 409 |
| Manufacturing Costs | 1 | 1 | 0 | 0 | 0 | 3 | 3 | 5 | 10 | 7 |
| Material Costs | 57 | 53 | 66 | 107 | 128 | 91 | 110 | 221 | 318 | 383 |
| Employee Cost | 0 | 0 | 1 | 2 | 6 | 5 | 6 | 8 | 9 | 10 |
| Other Costs ⓘ | 1 | 1 | 3 | 6 | 9 | 3 | 5 | 6 | 10 | 9 |
| Operating Profit ⓘ | 3 | 2 | 2 | 3 | 4 | 4 | 4 | 7 | 13 | 20 |
| Operating Profit Margin (%) | 4.1% | 3.3% | 3.4% | 2.5% | 2.6% | 3.4% | 3.3% | 3.0% | 3.6% | 4.7% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Interest ⓘ | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 6 | 10 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 4 | 7 | 9 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 5 | 7 |
| PAT Margin (%) | 0.3% | 0.4% | 0.4% | 0.2% | 0.3% | 0.2% | 0.4% | 1.2% | 1.5% | 1.7% |
| Adjusted EPS (₹) | 0.3 | 0.4 | 0.4 | 0.5 | 0.8 | 0.3 | 0.8 | 3.9 | 5.1 | 6.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 7% |
| 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 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 17 | 34 | 42 |
| Share Capital ⓘ | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 10 | 10 |
| Reserves ⓘ | 5 | 6 | 6 | 6 | 7 | 7 | 7 | 12 | 24 | 31 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 14 | 13 | 18 | 28 | 28 | 31 | 38 | 51 | 71 | 99 |
| Long Term Debt | 1 | 1 | 4 | 7 | 3 | 2 | 7 | 6 | 11 | 10 |
| Short Term Debt | 13 | 12 | 13 | 21 | 25 | 29 | 30 | 45 | 60 | 89 |
| Trade Payables | 3 | 0 | 0 | 3 | 4 | 2 | 10 | 11 | 18 | 18 |
| Others Liabilities ⓘ | 1 | 1 | 0 | 1 | 2 | 2 | 5 | 4 | 4 | 6 |
| Total Liabilities ⓘ | 27 | 23 | 28 | 42 | 45 | 45 | 63 | 82 | 127 | 165 |
Fixed Assets | ||||||||||
| Gross Block | 7 | 7 | 7 | 9 | 10 | 11 | 12 | 13 | 16 | 18 |
| Accumulated Depreciation | 3 | 3 | 4 | 4 | 4 | 5 | 5 | 6 | 7 | 8 |
| Net Fixed Assetsⓘ | 3 | 3 | 3 | 5 | 6 | 6 | 7 | 7 | 9 | 10 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 9 | 8 | 11 | 10 | 19 | 15 | 23 | 31 | 54 | 89 |
| Trade Receivables | 14 | 11 | 8 | 24 | 16 | 21 | 26 | 38 | 54 | 48 |
| Cash Equivalents | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 0 |
| Others Assetsⓘ | 1 | 1 | 5 | 2 | 3 | 2 | 7 | 5 | 9 | 9 |
| Total Assets ⓘ | 27 | 23 | 28 | 42 | 45 | 45 | 63 | 82 | 127 | 165 |
| 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 | 0 | 0 | -1 | 3 | 6 | -1 | 3 | -9 | -11 |
| PBT ⓘ | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 4 | 7 | 9 |
| Adjustment ⓘ | 0 | 0 | 2 | 2 | 3 | 3 | 4 | 3 | 4 | 11 |
| Changes in Working Capital ⓘ | 0 | 0 | -2 | -3 | -0 | 2 | -5 | -4 | -19 | -29 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -2 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | -2 | 0 | -2 | -1 | -1 | 2 | -3 | -10 |
| Capex | 0 | 0 | 0 | -2 | -2 | -1 | -2 | -1 | -3 | -2 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | -1 | 2 | 0 | 0 | 0 | 2 | 0 | -8 |
| Cash Flow From Financing Activityⓘ | 0 | 0 | 2 | 1 | -2 | -4 | 3 | -4 | 12 | 20 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 12 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | -2 | 6 | -2 | 5 | 2 |
| Interest Paid ⓘ | 0 | 0 | -2 | -2 | -3 | -3 | -3 | -3 | -5 | -10 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 3 | 3 | 1 | 0 | 0 | 0 | 0 | 29 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.15 | 2.58 | 2.94 | 2.99 | 4.72 | 1.86 | 4.52 | 21.28 | 20.66 | 18.93 |
| ROCE (%) | 9.91 | 7.73 | 9.05 | 8.37 | 9.28 | 7.9 | 8.63 | 13.04 | 14.71 | 15.6 |
| Asset Turnover Ratio | 2.57 | 2.56 | 3.17 | 3.45 | 3.42 | 2.35 | 2.35 | 3.43 | 3.45 | 2.94 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1 | -1.8 | -1.57 | Working Capital Days |
| Receivable Days | 67 | 68 | 42 | 49 | 50 | 65 | 67 | 47 | 47 | 44 |
| Inventory Days | 49 | 47 | 43 | 32 | 36 | 59 | 55 | 40 | 43 | 61 |
| Payable Days | 16 | 11 | 1 | 6 | 10 | 12 | 19 | 17 | 16 | 17 |
The company was originally incorporated as a public limited Company under the name of ‘Baheti Metal And Ferro Alloys Limited’ on December 28, 1994 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra & Nagar Haveli bearing registration number as 04-24001. Subsequently, the name of the company was changed from ‘Baheti Metal And Ferro Alloys Limited’ to ‘Baheti Recycling Industries Limited’ vide a fresh certificate of incorporation dated January 25, 2022, issued by the Registrar of Companies, Ahmedabad, Gujarat.
Incorporated in 1994, Baheti Recycling Industries is an aluminium recycling Company, primarily engaged in processing aluminium based metal scrap to manufacture aluminium alloys in the form of ingots and aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. The versatile properties of aluminium and its alloys, results in it being used in various industries, which include automobiles, construction, electrical transmission application, food packaging etc. Aluminium alloys are used in automobiles components due to its stiffness, corrosion resistance and excellent strength to weight ratio. The Aluminium de-ox alloys are used as deoxidizer in steel manufacturing units.
The company is a customer centric company, constantly striving to create value for its customers through products offered and committed deliveries. It primarily caters to the automotive parts and steel sector in India. Some of its esteemed customers includes ArcelorMittal Nippon Steel India, Tata Steel, Minda Corporation, Sigma Electric, Sunflag Iron & Steel Co. Ltd. etc. Currently, it markets its products to around 12 states & Union Territories in India of which majority portion of the revenue comes from the state of Gujarat, Maharashtra, Orissa and Jharkhand. The company also sells its products to the foreign buyers located in Japan, Canada, USA, China, Hong Kong, UAE, Taiwan etc. The company exports these products at the preferred location of the buyer, which is either the consignee’s country or buyer’s country. The company is also engaged in trading of scrap materials such as aluminium scrap, brass scrap, copper scrap, zinc scrap etc.
Business area of the company
The company is primarily engaged in processing aluminium-based metal scrap to manufacture aluminium alloys in the form of ingots and aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. It is also engaged in trading of scrap materials such as aluminium scrap, brass scrap, copper scrap, zinc scrap etc.
Major events and milestones
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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