BSE: 540080 | NSE: | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Dhatre Udyog Ltd is a average quality company.
The key valuation ratios of Dhatre Udyog Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Dhatre Udyog 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 % ⓘ | 13.1% | 12.6% | 12.4% | 14.7% | 13.3% | 12.1% | -12.1% | -26% | 96.4% | 16.4% | - |
| Value Creation Index ⓘ | -0.1 | -0.1 | -0.1 | 0.1 | -0.1 | -0.1 | -1.9 | NA | 5.9 | 0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 576 | 596 | 503 | 774 | 778 | 752 | 359 | 77.9 | 11.6 | 107 | 221 |
| Sales YoY Gr. | - | 3.4% | -15.6% | 54% | 0.4% | -3.3% | -52.3% | -78.3% | -85.1% | 821.7% | - |
| Adj EPS ⓘ | 0.2 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | -2.8 | -5.1 | -133.1 | 0.6 | 0.9 |
| YoY Gr. | - | 5.9% | 38.9% | -24% | 10.5% | -4.8% | -1515% | NA | NA | NA | - |
| BVPS (₹) ⓘ | 3.2 | 3.4 | 3.5 | 3.6 | 3.7 | 3.9 | 1 | -3.9 | 71.8 | 5.6 | 6.5 |
| Adj Net Profit ⓘ | 1.3 | 1.3 | 1.9 | 2.1 | 2.3 | 2.2 | -30.9 | -55.9 | -72.6 | 6.7 | 10 |
| Cash Flow from Ops. ⓘ | 16.7 | 12.2 | 6.5 | -10.5 | 7.3 | 18.2 | -103 | 31.4 | 0.1 | -2.3 | - |
| Debt/CF from Ops. ⓘ | 5.1 | 6.7 | 13.1 | -10.2 | 15.7 | 6.7 | -2.3 | 6.5 | 27.5 | -0.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -17.1% | -32.7% | -33.2% | 821.7% | ||||
| Adj EPS ⓘ | 15.3% | 23.8% | NA | NA | ||||
| BVPSⓘ | 6.5% | 8.9% | 78.2% | -92.2% | ||||
| Share Price | - | 37.7% | 120% | -40.9% | ||||
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 % ⓘ | 5.7 | 5.5 | 7.3 | 6.5 | 5.8 | 5.3 | -116.3 | 356.6 | -1958.6 | 12.1 | 15 |
| Op. Profit Mgn % ⓘ | 1.9 | 1.7 | 2.7 | 2.4 | 2.5 | 2.3 | -7.4 | -73.3 | 7 | 6.6 | 1.6 |
| Net Profit Mgn % ⓘ | 0.2 | 0.2 | 0.4 | 0.3 | 0.3 | 0.3 | -8.6 | -71.7 | -624.7 | 6.2 | 4.5 |
| Debt to Equity ⓘ | 3.7 | 3.3 | 3.3 | 2.8 | 2.9 | 2.9 | 22 | -4.8 | 0.1 | 0 | - |
| Working Cap Days ⓘ | 82 | 89 | 103 | 83 | 87 | 112 | 227 | 768 | 2,584 | 145 | 35 |
| Cash Conv. Cycle ⓘ | 44 | 43 | 55 | 43 | 33 | 52 | 153 | 689 | 2,215 | 130 | 31 |
Return on Equity has increased versus last 3 years average to 15.00%
Sales growth is good in last 4 quarters at 72.75%
Sales growth has been subdued in last 3 years -33.15%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.9 | 0.9 |
| TTM Sales (₹ Cr.) | 221 | 221 |
| BVPS (₹.) ⓘ | 6.5 | 6.5 |
| Reserves (₹ Cr.) ⓘ | 60 | 60 |
| P/BV ⓘ | 1.94 | 1.94 |
| PE ⓘ | 13.96 | 13.96 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 10.90 / 31.73 |
| All Time Low / High (₹) | 0.70 / 31.73 |
| Market Cap (₹ Cr.) | 138 |
| Equity (₹ Cr.) | 10.9 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 576 | 596 | 503 | 774 | 777 | 752 | 359 | 78 | 12 | 107 |
| Operating Expenses ⓘ | 565 | 586 | 490 | 756 | 758 | 735 | 386 | 135 | 11 | 100 |
| Manufacturing Costs | 0 | 0 | 7 | 6 | 6 | 9 | 7 | 7 | 7 | 6 |
| Material Costs | 554 | 577 | 474 | 738 | 734 | 706 | 345 | 71 | 0 | 90 |
| Employee Cost | 3 | 2 | 2 | 2 | 2 | 4 | 4 | 5 | 3 | 4 |
| Other Costs ⓘ | 8 | 8 | 7 | 9 | 16 | 17 | 30 | 52 | 0 | 1 |
| Operating Profit ⓘ | 11 | 10 | 13 | 18 | 19 | 17 | -27 | -57 | 1 | 7 |
| Operating Profit Margin (%) | 1.9% | 1.7% | 2.6% | 2.4% | 2.4% | 2.3% | -7.6% | -73.3% | 7.0% | 6.6% |
| Other Income ⓘ | 4 | 4 | 1 | 1 | 3 | 3 | 4 | 5 | 0 | 3 |
| Interest ⓘ | 12 | 11 | 12 | 16 | 17 | 16 | 23 | 27 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 102 | 0 |
| Profit Before Tax ⓘ | 2 | 2 | 2 | 3 | 3 | 3 | -48 | -80 | 102 | 9 |
| Tax ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | -17 | -27 | 36 | 3 |
| Profit After Tax | 1 | 1 | 1 | 2 | 2 | 2 | -31 | -53 | 67 | 7 |
| PAT Margin (%) | 0.3% | 0.2% | 0.2% | 0.3% | 0.2% | 0.3% | -8.7% | -68.1% | 574.6% | 6.2% |
| Adjusted EPS (₹) | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | -2.9 | -4.9 | 122.4 | 0.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 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 | 23 | 25 | 26 | 39 | 40 | 42 | 11 | -42 | 39 | 61 |
| Share Capital ⓘ | 7 | 7 | 7 | 11 | 11 | 11 | 11 | 11 | 1 | 11 |
| Reserves ⓘ | 16 | 17 | 18 | 28 | 29 | 31 | 0 | -53 | 39 | 50 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 85 | 81 | 85 | 107 | 115 | 121 | 237 | 203 | 3 | 1 |
| Long Term Debt | 16 | 14 | 14 | 14 | 10 | 16 | 17 | 1 | 3 | 1 |
| Short Term Debt | 68 | 67 | 71 | 93 | 105 | 105 | 220 | 201 | 0 | 0 |
| Trade Payables | 65 | 59 | 53 | 95 | 90 | 119 | 4 | 2 | 0 | 0 |
| Others Liabilities ⓘ | 8 | 8 | 9 | 5 | 11 | 14 | -9 | -19 | 4 | -4 |
| Total Liabilities ⓘ | 181 | 173 | 172 | 245 | 255 | 296 | 243 | 143 | 46 | 59 |
Fixed Assets | ||||||||||
| Gross Block | 14 | 14 | 15 | 17 | 18 | 21 | 25 | 21 | 13 | 14 |
| Accumulated Depreciation | 3 | 4 | 5 | 5 | 1 | 1 | 3 | 6 | 4 | 5 |
| Net Fixed Assetsⓘ | 10 | 10 | 11 | 12 | 17 | 19 | 22 | 15 | 9 | 9 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 1 | 2 | 2 | 3 | 3 | 3 | 2 | 0 | 0 | 0 |
| Inventories | 44 | 51 | 38 | 57 | 20 | 18 | 13 | 2 | 2 | 7 |
| Trade Receivables | 91 | 84 | 101 | 137 | 176 | 216 | 175 | 110 | 30 | 38 |
| Cash Equivalents | 19 | 15 | 14 | 20 | 18 | 26 | 19 | 0 | 0 | 1 |
| Others Assetsⓘ | 16 | 10 | 6 | 16 | 20 | 12 | 12 | 16 | 5 | 4 |
| Total Assets ⓘ | 181 | 173 | 172 | 245 | 255 | 296 | 243 | 143 | 46 | 59 |
| 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 ⓘ | 17 | 12 | 6 | -11 | 7 | 18 | -103 | 31 | 0 | -2 |
| PBT ⓘ | 2 | 2 | 2 | 3 | 3 | 3 | -48 | -80 | 102 | 9 |
| Adjustment ⓘ | 11 | 11 | 11 | 15 | 17 | 14 | 37 | 66 | -102 | -2 |
| Changes in Working Capital ⓘ | 4 | 0 | -6 | -28 | -12 | 2 | -92 | 45 | 0 | -9 |
| Tax Paid ⓘ | 0 | -1 | -1 | -1 | 0 | -2 | -1 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 1 | -2 | 2 | -4 | -4 | -11 | 9 | 31 | 0 | 0 |
| Capex | -1 | -1 | -1 | 0 | -6 | -4 | -1 | 9 | 0 | -1 |
| Net Investments | 0 | -2 | 2 | -5 | 0 | -9 | 6 | 21 | 0 | 0 |
| Others ⓘ | 1 | 0 | 1 | 1 | 3 | 3 | 4 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -17 | -15 | -7 | 17 | -5 | -8 | 93 | -63 | 1 | 3 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 12 | 0 | 0 | 0 | 0 | 10 | 0 |
| Net Proceeds from Borrowing ⓘ | 6 | -2 | 0 | -1 | 0 | 0 | 0 | -36 | 17 | 0 |
| Interest Paid ⓘ | -12 | -11 | -11 | -15 | -18 | -16 | -23 | -27 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -11 | -2 | 4 | 22 | 13 | 8 | 116 | 0 | -27 | 3 |
| Net Cash Flow ⓘ | 0 | -5 | 1 | 3 | -1 | 0 | -2 | 0 | 1 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.58 | 5.76 | 4.87 | 6.49 | 4.5 | 5.33 | -118.09 | N/A | 0 | 13.34 |
| ROCE (%) | 13.1 | 12.6 | 12.4 | 14.65 | 13.34 | 12.07 | -12.08 | N/A | 96.35 | 16.35 |
| Asset Turnover Ratio | 3.64 | 3.43 | 2.97 | 3.76 | 3.56 | 2.73 | 1.33 | 0.4 | 0.12 | 2.04 |
| PAT to CFO Conversion(x) | 17 | 12 | 6 | -5.5 | 3.5 | 9 | N/A | N/A | 0 | -0.29 | Working Capital Days |
| Receivable Days | 47 | 53 | 66 | 55 | 64 | 95 | 199 | 668 | 2,207 | 116 |
| Inventory Days | 28 | 29 | 32 | 22 | 16 | 9 | 16 | 35 | 47 | 15 |
| Payable Days | 30 | 39 | 43 | 36 | 46 | 54 | 65 | 15 | 0 | 1 |
Incorporated in 1995, the company Narayani Steels, promoted by Shri Sunil Choudhary, started its operations with acquisition of a steel rolling plant in Vizianagaram. The company further acquired its second plant in 2012. The company strengthened its roots in Vishakhapatnam steel industry by expanding its business operations on a wide scale over the years. This fact is evidenced by increase in its business turnover from over Rs 200 crore in Financial Year 2011 to over Rs 500 crore in Financial Year 2016.
Currently, the company operates from two manufacturing units, both of which are situated in Vizianagaram district; one being used for production of angles, flats, channels, rounds, etc while the second unit is used for production of TMT Bars. The company procures billets and blooms from Rashtriya Ispat Nigam Limited (RINL), a Government of India undertaking which is renowned for its superior quality steel products.
The company provides TMT Bars as per approved industrial standards, and ensures that all its products have the appropriate content of various chemical compositions. Further, the company has an in-house testing facility for testing chemical composition of its products. With a goal to maintain standards in terms of quality and customer satisfaction, it is committed to satisfy customer compliance by supplying Narayani TMT Rebars as per the prescribed quality controls by government. The company has developed a wide network for the sales and distribution of its products across Andhra Pradesh, Telangana and other states in India.
Business area of the company
The company is engaged in trading and manufacturing of hot rolled long products of value added steel. The company primarily trade in blooms, billets, TMT bars, pellets, etc and also manufacture TMT bars and other long products such as rounds, flats, angles, channels, etc.
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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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