BSE: 513456 | NSE: | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Kanishk Steel Industries Ltd is a average quality company.
The key valuation ratios of Kanishk Steel 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 Kanishk Steel 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 % ⓘ | 14.1% | 21.1% | 11.4% | 13.7% | 20.3% | 6.4% | 11.9% | 39.5% | 12.9% | 5.7% | - |
| Value Creation Index ⓘ | 0 | 0.5 | -0.2 | 0.0 | 0.5 | -0.5 | -0.2 | 1.8 | -0.1 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 304 | 273 | 229 | 235 | 330 | 257 | 245 | 314 | 402 | 388 | 364 |
| Sales YoY Gr. | - | -10.3% | -16% | 2.5% | 40.7% | -22.1% | -4.6% | 28.1% | 28% | -3.5% | - |
| Adj EPS ⓘ | 0.1 | 0.3 | -0.6 | 0.6 | 1.2 | 0.3 | 1.8 | 8.7 | 2.5 | 0.8 | -0.1 |
| YoY Gr. | - | 287.5% | -303.2% | NA | 94.9% | -73.9% | 490% | 393.2% | -71.9% | -69% | - |
| BVPS (₹) ⓘ | 12.3 | 14.2 | 13.9 | 14.5 | 16.1 | 17 | 19.2 | 28.6 | 32.1 | 33.2 | 33.5 |
| Adj Net Profit ⓘ | 0.2 | 0.9 | -1.8 | 1.7 | 3.3 | 0.9 | 5 | 24.8 | 7 | 2.2 | 0 |
| Cash Flow from Ops. ⓘ | 12.9 | -11.9 | 16.6 | -2.6 | -6.7 | 2.5 | -3.8 | 1.4 | -3.3 | 33.5 | - |
| Debt/CF from Ops. ⓘ | 0.4 | -1.8 | 0.9 | -3.6 | -2.8 | 6.8 | -4.5 | 13.1 | -14.8 | 1.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.8% | 3.3% | 16.5% | -3.5% | ||||
| Adj EPS ⓘ | 28.4% | -8% | -24.6% | -69% | ||||
| BVPSⓘ | 11.6% | 15.5% | 20.1% | 3.4% | ||||
| Share Price | 15.5% | 29.4% | 4.2% | 19.5% | ||||
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 % ⓘ | 0.6 | 2 | -3.9 | 3.6 | 6.7 | 1.7 | 9 | 34.4 | 7.7 | 2.3 | -0.2 |
| Op. Profit Mgn % ⓘ | 2.9 | 0.8 | 0.8 | 3.1 | 3.2 | 0.8 | -5.2 | 5.7 | 2.4 | 1.8 | 1.2 |
| Net Profit Mgn % ⓘ | 0.1 | 0.3 | -0.8 | 0.7 | 1 | 0.3 | 2.1 | 7.9 | 1.7 | 0.6 | -0.1 |
| Debt to Equity ⓘ | 0.2 | 0.5 | 0.4 | 0.2 | 0.4 | 0.4 | 0.3 | 0.2 | 0.5 | 0.6 | 0.2 |
| Working Cap Days ⓘ | 129 | 151 | 173 | 170 | 121 | 145 | 121 | 94 | 89 | 82 | 51 |
| Cash Conv. Cycle ⓘ | 39 | 41 | 65 | 71 | 48 | 64 | 60 | 51 | 50 | 40 | 8 |
Sales growth is growing at healthy rate in last 3 years 16.52%
Return on Equity is Poor
Net Profit has been subdued in last 3 years -24.56%
Sales growth is not so good in last 4 quarters at -9.64%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.1 | 1.8 |
| TTM Sales (₹ Cr.) | 364 | 273 |
| BVPS (₹.) ⓘ | 33.5 | 0 |
| Reserves (₹ Cr.) ⓘ | 67 | 12 |
| P/BV ⓘ | 1.03 | 0.00 |
| PE ⓘ | 0.00 | 19.57 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 25.64 / 51.00 |
| All Time Low / High (₹) | 1.00 / 102.50 |
| Market Cap (₹ Cr.) | 98.1 |
| Equity (₹ Cr.) | 28.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 22.2 |
| Pledged * | 5.36 | 5.36 | 5.36 | 5.36 | 5.43 | 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 | 303.80 | 272.61 | 229.04 | 234.74 | 330.29 | 257.16 | 245.30 | 314.19 | 402.21 | 388.08 |
| Operating Expenses ⓘ | 295.09 | 270.47 | 227.47 | 227.81 | 319.86 | 255.04 | 258.07 | 296.16 | 401.30 | 381.29 |
| Manufacturing Costs | 23.14 | 26.06 | 24.67 | 28.64 | 31.46 | 26.02 | 33.93 | 45.68 | 46.92 | 34.07 |
| Material Costs | 253.85 | 233.53 | 189.36 | 191.11 | 281.36 | 217.53 | 195.69 | 236.65 | 334.94 | 334.51 |
| Employee Cost | 0.80 | 0.89 | 1.53 | 1.48 | 1.52 | 2.97 | 3.95 | 4.22 | 4.73 | 5.30 |
| Other Costs ⓘ | 17.30 | 9.99 | 11.91 | 6.58 | 5.53 | 8.53 | 24.49 | 9.60 | 14.72 | 7.42 |
| Operating Profit ⓘ | 8.71 | 2.14 | 1.56 | 6.93 | 10.42 | 2.12 | -12.77 | 18.03 | 0.91 | 6.79 |
| Operating Profit Margin (%) | 2.9% | 0.8% | 0.7% | 3.0% | 3.2% | 0.8% | -5.2% | 5.7% | 0.2% | 1.7% |
| Other Income ⓘ | 1.37 | 10.52 | 6.57 | 1.18 | 2.11 | 2.88 | 21.74 | 16.89 | 15.74 | 6.66 |
| Interest ⓘ | 5.08 | 4.66 | 5.19 | 4.53 | 4.45 | 2.49 | 1.82 | 1.64 | 1.21 | 4.38 |
| Depreciation ⓘ | 3.59 | 1.88 | 1.45 | 0.91 | 0.87 | 0.83 | 0.83 | 1.09 | 1.18 | 5.25 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1.41 | 6.12 | 1.49 | 2.67 | 7.21 | 1.68 | 6.32 | 32.19 | 14.25 | 3.81 |
| Tax ⓘ | 1.14 | 1.39 | 1.01 | 1.09 | 2.94 | -0.35 | 0.64 | 5.91 | 4.76 | 1.21 |
| Profit After Tax | 0.27 | 4.73 | 0.48 | 1.58 | 4.27 | 2.03 | 5.68 | 26.29 | 9.50 | 2.60 |
| PAT Margin (%) | 0.1% | 1.7% | 0.2% | 0.7% | 1.3% | 0.8% | 2.3% | 8.4% | 2.4% | 0.7% |
| Adjusted EPS (₹) | 0.1 | 1.7 | 0.2 | 0.6 | 1.5 | 0.7 | 2.0 | 9.2 | 3.3 | 0.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 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 | 42.50 | 47.30 | 45.91 | 47.20 | 51.34 | 53.39 | 59.07 | 85.26 | 94.84 | 97.50 |
| Share Capital ⓘ | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 | 28.47 |
| Reserves ⓘ | 14.03 | 18.84 | 17.45 | 18.74 | 22.88 | 24.92 | 30.61 | 56.80 | 66.38 | 69.03 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 5.29 | 21.49 | 15.39 | 9.22 | 18.61 | 17.04 | 17.04 | 18.31 | 45.12 | 49.94 |
| Long Term Debt | 0 | 0.05 | 0 | 0 | 0 | 0 | 0 | 0 | 25.89 | 21.91 |
| Short Term Debt | 5.29 | 21.44 | 15.39 | 9.22 | 18.61 | 17.04 | 17.04 | 18.31 | 19.23 | 28.03 |
| Trade Payables | 62.17 | 53.54 | 48.24 | 54.51 | 39.70 | 29.84 | 18.13 | 20.03 | 14.06 | 20.48 |
| Others Liabilities ⓘ | 33.32 | 35.73 | 28.77 | 23.58 | 18.77 | 17.36 | 9.04 | 15.88 | 18.04 | 24.10 |
| Total Liabilities ⓘ | 143.27 | 158.07 | 138.31 | 134.52 | 128.42 | 117.63 | 103.29 | 139.49 | 172.05 | 192.02 |
Fixed Assets | ||||||||||
| Gross Block | 49.22 | 49.74 | 13.62 | 14.25 | 14.30 | 14.30 | 14.32 | 17.46 | 57.61 | 39.96 |
| Accumulated Depreciation | 32.95 | 34.38 | 1.45 | 2.36 | 3.23 | 4.06 | 4.89 | 5.98 | 7.01 | 7.21 |
| Net Fixed Assetsⓘ | 16.27 | 15.37 | 12.17 | 11.89 | 11.07 | 10.24 | 9.43 | 11.48 | 50.60 | 32.75 |
| CWIP ⓘ | 0 | 0 | 0 | 3.20 | 3.56 | 3.56 | 3.51 | 3.51 | 6.49 | 20.35 |
| Investmentsⓘ | 5.36 | 5.13 | 3.17 | 2.59 | 2.30 | 3.03 | 23.37 | 25.74 | 11.38 | 16.57 |
| Inventories | 46.89 | 40.17 | 44.83 | 50.03 | 48.32 | 47.74 | 37.08 | 62.53 | 44.45 | 26.48 |
| Trade Receivables | 43.34 | 70.17 | 49.97 | 55.55 | 30.63 | 28 | 17.88 | 11.96 | 27.57 | 21.38 |
| Cash Equivalents | 4.76 | 6.37 | 15.29 | 3.88 | 4.62 | 3.45 | 2.04 | 2.37 | 3.66 | 5.47 |
| Others Assetsⓘ | 26.65 | 20.87 | 12.88 | 7.38 | 27.91 | 21.61 | 9.99 | 21.93 | 27.90 | 69.03 |
| Total Assets ⓘ | 143.27 | 158.07 | 138.31 | 134.52 | 128.42 | 117.63 | 103.29 | 139.49 | 172.05 | 192.02 |
| 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 ⓘ | 12.87 | -11.88 | 16.60 | -2.59 | -6.74 | 2.52 | -3.81 | 1.40 | -3.34 | 33.46 |
| PBT ⓘ | 1.41 | 6.12 | 1.49 | 2.67 | 7.21 | 1.68 | 6.32 | 32.19 | 14.25 | 3.81 |
| Adjustment ⓘ | 5.53 | 3.85 | 3.97 | 3.33 | 2.98 | 1.22 | -2.16 | -14.33 | -4.73 | 3.57 |
| Changes in Working Capital ⓘ | 6.93 | -19.33 | 11.89 | -6.98 | -13.99 | 3.8 | -7.98 | -16.45 | -5.59 | 21.96 |
| Tax Paid ⓘ | -0.99 | -2.52 | -0.75 | -1.61 | -2.94 | -4.18 | 0.01 | -0.01 | -7.28 | 4.12 |
| Cash Flow From Investing Activity ⓘ | 0.20 | -0.22 | -7.17 | 10.58 | -0.99 | 1.47 | 1.79 | -1.30 | -26.30 | -30.66 |
| Capex | -0.64 | -0.50 | -0.09 | -0.63 | -0.05 | 0 | -0.01 | -3.14 | -40.31 | -29.48 |
| Net Investments | -0.11 | 0.23 | 0.92 | 0.15 | -0.36 | 0.02 | 0 | 0 | 15.96 | 1.97 |
| Others ⓘ | 0.95 | 0.06 | -7.99 | 11.06 | -0.57 | 1.45 | 1.80 | 1.84 | -1.96 | -3.14 |
| Cash Flow From Financing Activityⓘ | -14.66 | 13.71 | -9.51 | -8.39 | 7.81 | -4.10 | 2.05 | -0.18 | 29.64 | 0.67 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -0.03 | 0.05 | -0.05 | 0 | 0 | 0 | 0 | 0 | 0 | -4.31 |
| Interest Paid ⓘ | -2.89 | -3.23 | -3.15 | -2.39 | -2.48 | -1.53 | -1.43 | -1.34 | -1.18 | -4.35 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -11.74 | 16.89 | -6.31 | -6 | 10.29 | -2.58 | 3.48 | 1.17 | 30.82 | 9.34 |
| Net Cash Flow ⓘ | -1.58 | 1.61 | -0.08 | -0.41 | 0.09 | -0.12 | 0.03 | -0.08 | 0 | 3.48 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.78 | 12.55 | 1.2 | 3.91 | 9.8 | 4.3 | 11.03 | 38.71 | 11.01 | 2.8 |
| ROCE (%) | 14.05 | 21.08 | 11.42 | 13.65 | 20.26 | 6.41 | 11.88 | 39.52 | 12.87 | 5.66 |
| Asset Turnover Ratio | 2.27 | 1.99 | 1.7 | 1.74 | 2.51 | 2.09 | 2.22 | 2.59 | 2.58 | 2.13 |
| PAT to CFO Conversion(x) | 47.67 | -2.51 | 34.58 | -1.64 | -1.58 | 1.24 | -0.67 | 0.05 | -0.35 | 12.87 | Working Capital Days |
| Receivable Days | 55 | 69 | 87 | 81 | 48 | 42 | 34 | 17 | 18 | 23 |
| Inventory Days | 49 | 53 | 62 | 73 | 54 | 68 | 63 | 58 | 49 | 33 |
| Payable Days | 73 | 90 | 98 | 98 | 61 | 58 | 45 | 29 | 19 | 19 |
Kanishk Steel Industries Ltd. was incorporated on March 1, 1989 as Kanishk Steel Industries Pvt.Ltd. and was converted into a Public Limited Company on April 24,1992. It is a part of OPG Enterprises Group. Kanishk Steel was promoted by late O.P Gupta, who established steel related business in Chennai, Salem and Mayavaram in Tamilnadu. Kanishk Steel Industries is an ISO 9001:2000 certified company listed in BSE.
Kanishk Steel Industries has a turnover of Rs.273.93 crores and the group turnover is of Rs.500 Crore. Kanishk Steel employs around 450 people. The company manufactures steel products (finished goods) both Constructional steel and Structural steel conforming to the Bureau of Indian Standards BIS 1786 and IS 2062 (equivalent to ASTM, BS, DIN). .
Kanishk Steel’s corporate office is located at N0.26, Mooker Nallamuthu Street, Chennai with its TMT Bars and Structurals manufacturing unit and sponge iron plant at Gummidipoondi.
Kanishk Steel Industries has established facilities in Gummidipoondi, Thiruvallur district of Tamilnadu, which is about 40 kms from Chennai. The facility uses the latest technology machinery to manufacture top quality TMT bars, CTD bars; structural steel items like wire rods, joists, profiles, channels, rounds, angles, special profiles, wire rods, spring steel flats and carbon alloy construction steel.
The Gummidipoondi facility has received the ISO 9001:2000 certification for the manufacturing and supply of TMT Bars and Structural steel products. The certification recognises the high-quality manufacturing system and success in giving the best for Kanishk Steel's customers. It confirms the quality of the services and operations of the company and underscores the value created for the customers.
Kanishk Steel has the latest testing equipment - SpectroMAXx Spectrometer at its Gummidipoondi facility. With this, the testing equipment at the facility will be the best ensuring better, efficient, accurate and precise analysis in the quality of the products being manufactured. The SpectroMAXx will further enhance the existing stringent quality process at Kanishk Steel and provide competitive advantage in the entire process of manufacturing from selection of the raw material to the finished product. The SpectroMAXx has been specifically equipped for Kanishk Steel's requirements
A sponge iron plant has been set up in Gummidipoondi with an annual capacity of 60,000 tons. The sponge iron from the plant is used as raw material for the steel mill, which will in turn be used for manufacturing TMT bars. It has the flexibility of using indigenous 100 per cent iron ore lumps or any mix of lump ore and pellets.
Subsidiary of the company
OPG energy- OPG Energy, the subsidiary of Kanishk Steel Industries Ltd., has 11 windmills in Coimbatore district and 2 windmills in Tirunelveli district of Tamilnadu. The total capacity of energy produced is 3.535 MW. The natural gas-based power-generating plant is situated in Myladuthurai, about 275 kms south of Chennai in Tamilnadu with an installed capacity of 17.98 MW energy.
Product range of the company includes:
Clientele:
The major clients of Kanishk Steel include BHEL, NLC, ICF, Department of Atomic Energy; State Government departments like TANSI, DRDA and others. Kanishk Steel also supplies to large private sector companies like ITD Cementation India, Singapore Realty and Shapoorji Pallonji,DLF and Khivraj Techpark amongst others .
Achievements/ recognition:
Kanishk Steel Industries is an ISO 9001:2000 certified company listed in BSE.
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