BSE: 506022 | NSE: PRAKASH | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Prakash Industries Ltd is a average quality company.
The key valuation ratios of Prakash Industries 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 Semi Strong which suggest that the price of Prakash Industries Ltd is likely to Rise-somewhat 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 % ⓘ | 2.3% | 3.2% | 5.4% | 14.4% | 18.5% | 6% | 4.9% | 7.2% | 8.1% | 12% | - |
| Value Creation Index ⓘ | -0.8 | -0.8 | -0.6 | 0.0 | 0.3 | -0.6 | -0.7 | -0.5 | -0.4 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2,836 | 2,053 | 2,174 | 2,935 | 3,588 | 2,974 | 3,216 | 3,929 | 3,444 | 3,678 | 4,019 |
| Sales YoY Gr. | - | -27.6% | 5.9% | 35% | 22.2% | -17.1% | 8.2% | 22.2% | -12.3% | 6.8% | - |
| Adj EPS ⓘ | 13.6 | 1.8 | 5.9 | 24.6 | 33.3 | 6.9 | 5.3 | 9.4 | 10.6 | 18 | 19.6 |
| YoY Gr. | - | -87.1% | 234.1% | 318.4% | 35.4% | -79.3% | -23.3% | 77.1% | 13.1% | 69.9% | - |
| BVPS (₹) ⓘ | 156.5 | 158.9 | 159.7 | 169.6 | 169.5 | 169.6 | 161.9 | 157 | 164.9 | 168.9 | 177 |
| Adj Net Profit ⓘ | 183 | 23.7 | 81.8 | 386 | 544 | 118 | 94.8 | 168 | 190 | 323 | 350 |
| Cash Flow from Ops. ⓘ | 232 | 242 | 269 | 476 | 696 | 388 | 159 | 350 | 585 | 601 | - |
| Debt/CF from Ops. ⓘ | 3.9 | 3.4 | 3.2 | 1.7 | 1 | 1.5 | 3.5 | 1.4 | 0.9 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.9% | 0.5% | 4.6% | 6.8% | ||||
| Adj EPS ⓘ | 3.2% | -11.6% | 50.4% | 69.9% | ||||
| BVPSⓘ | 0.9% | -0.1% | 1.4% | 2.4% | ||||
| Share Price | 11.1% | 29.4% | 45.7% | -3.7% | ||||
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 % ⓘ | 8.3 | 1.1 | 3.8 | 15.6 | 19.5 | 4.1 | 3.3 | 5.9 | 6.6 | 10.8 | 11.3 |
| Op. Profit Mgn % ⓘ | 14.5 | 9.3 | 12.2 | 19.9 | 22 | 11.7 | 9.8 | 10 | 12 | 13.4 | 12.7 |
| Net Profit Mgn % ⓘ | 6.5 | 1.2 | 3.8 | 13.2 | 15.2 | 4 | 3 | 4.3 | 5.5 | 8.8 | 8.7 |
| Debt to Equity ⓘ | 0.4 | 0.4 | 0.4 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 |
| Working Cap Days ⓘ | 86 | 118 | 96 | 69 | 67 | 81 | 77 | 68 | 73 | 61 | 41 |
| Cash Conv. Cycle ⓘ | 26 | 29 | 23 | 19 | 19 | 24 | 25 | 24 | 23 | 18 | 5 |
Return on Equity has increased versus last 3 years average to 11.30%
Net Profit is growing at healthy rate in last 3 years 50.44%
Sales growth is good in last 4 quarters at 10.19%
Sales growth has been subdued in last 3 years 4.58%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 19.6 | 21.6 |
| TTM Sales (₹ Cr.) | 4,019 | 2,935 |
| BVPS (₹.) ⓘ | 177 | 0 |
| Reserves (₹ Cr.) ⓘ | 3,026 | 2,504 |
| P/BV ⓘ | 0.92 | 0.00 |
| PE ⓘ | 8.31 | 7.53 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 128.15 / 237.25 |
| All Time Low / High (₹) | 1.25 / 354.60 |
| Market Cap (₹ Cr.) | 2,909 |
| Equity (₹ Cr.) | 179.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 22.2 |
| Pledged * | 67.29 | 74.00 | 73.96 | 74.35 | 58.62 | 32.78 | 16.69 | 13.34 | 13.34 | 10.61 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,836 | 2,053 | 2,174 | 2,935 | 3,588 | 2,974 | 3,216 | 3,929 | 3,444 | 3,678 |
| Operating Expenses ⓘ | 2,427 | 1,862 | 1,910 | 2,351 | 2,800 | 2,625 | 2,901 | 3,538 | 3,031 | 3,185 |
| Manufacturing Costs | 252 | 202 | 213 | 237 | 389 | 339 | 318 | 338 | 255 | 308 |
| Material Costs | 1,953 | 1,460 | 1,482 | 1,847 | 2,128 | 1,972 | 2,297 | 2,901 | 2,505 | 2,571 |
| Employee Cost | 142 | 144 | 155 | 196 | 212 | 242 | 230 | 229 | 219 | 242 |
| Other Costs ⓘ | 79 | 56 | 61 | 70 | 71 | 72 | 57 | 70 | 51 | 64 |
| Operating Profit ⓘ | 410 | 191 | 263 | 584 | 788 | 349 | 315 | 391 | 413 | 493 |
| Operating Profit Margin (%) | 14.5% | 9.3% | 12.1% | 19.9% | 22.0% | 11.7% | 9.8% | 9.9% | 12.0% | 13.4% |
| Other Income ⓘ | 8 | 5 | 3 | 15 | 8 | 7 | 8 | 8 | 11 | 64 |
| Interest ⓘ | 61 | 71 | 75 | 89 | 102 | 93 | 74 | 73 | 82 | 57 |
| Depreciation ⓘ | 98 | 102 | 103 | 121 | 134 | 145 | 154 | 158 | 152 | 153 |
| Exceptional Items ⓘ | -249 | 0 | 0 | 0 | -6 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 9 | 23 | 88 | 388 | 553 | 118 | 95 | 169 | 190 | 346 |
| Tax ⓘ | 0 | 0 | 7 | 2 | 13 | 0 | 0 | 0 | 0 | -2 |
| Profit After Tax | 9 | 23 | 81 | 386 | 539 | 118 | 95 | 169 | 190 | 348 |
| PAT Margin (%) | 0.3% | 1.1% | 3.7% | 13.2% | 15.0% | 4.0% | 3.0% | 4.3% | 5.5% | 9.5% |
| Adjusted EPS (₹) | 0.7 | 1.7 | 5.8 | 24.6 | 33.0 | 6.9 | 5.3 | 9.4 | 10.6 | 19.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 4% | 0% | 0% | 0% | 0% | 6% |
| 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 | 2,205 | 2,137 | 2,221 | 2,660 | 2,769 | 2,904 | 2,899 | 2,812 | 2,954 | 3,024 |
| Share Capital ⓘ | 134 | 134 | 139 | 157 | 163 | 171 | 179 | 179 | 179 | 179 |
| Reserves ⓘ | 2,071 | 2,003 | 2,082 | 2,504 | 2,605 | 2,733 | 2,720 | 2,633 | 2,775 | 2,845 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 760 | 626 | 722 | 716 | 587 | 505 | 490 | 388 | 423 | 217 |
| Long Term Debt | 630 | 545 | 578 | 601 | 436 | 371 | 353 | 290 | 225 | 111 |
| Short Term Debt | 130 | 81 | 143 | 115 | 151 | 134 | 137 | 98 | 198 | 105 |
| Trade Payables | 77 | 89 | 97 | 140 | 148 | 144 | 157 | 151 | 203 | 188 |
| Others Liabilities ⓘ | 402 | 510 | 222 | 215 | 312 | 312 | 338 | 561 | 671 | 631 |
| Total Liabilities ⓘ | 3,445 | 3,362 | 3,262 | 3,732 | 3,816 | 3,866 | 3,884 | 3,912 | 4,251 | 4,059 |
Fixed Assets | ||||||||||
| Gross Block | 2,984 | 2,831 | 2,874 | 3,782 | 3,681 | 4,481 | 4,598 | 4,719 | 5,045 | 5,060 |
| Accumulated Depreciation | 1,251 | 1,196 | 1,296 | 1,404 | 1,324 | 1,469 | 1,622 | 1,780 | 1,927 | 2,339 |
| Net Fixed Assetsⓘ | 1,733 | 1,635 | 1,578 | 2,377 | 2,357 | 3,013 | 2,976 | 2,939 | 3,118 | 2,720 |
| CWIP ⓘ | 944 | 955 | 1,141 | 690 | 710 | 171 | 122 | 46 | 172 | 495 |
| Investmentsⓘ | 2 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 194 | 183 | 188 | 251 | 233 | 137 | 294 | 348 | 312 | 301 |
| Trade Receivables | 97 | 80 | 76 | 99 | 150 | 195 | 143 | 66 | 97 | 83 |
| Cash Equivalents | 36 | 20 | 28 | 47 | 44 | 59 | 45 | 211 | 298 | 276 |
| Others Assetsⓘ | 439 | 487 | 250 | 268 | 320 | 292 | 305 | 302 | 255 | 183 |
| Total Assets ⓘ | 3,445 | 3,362 | 3,262 | 3,732 | 3,816 | 3,866 | 3,884 | 3,912 | 4,251 | 4,059 |
| 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 ⓘ | 232 | 242 | 269 | 476 | 696 | 388 | 159 | 350 | 585 | 601 |
| PBT ⓘ | 9 | 23 | 88 | 388 | 553 | 118 | 95 | 169 | 190 | 346 |
| Adjustment ⓘ | 407 | 168 | 176 | 201 | 237 | 239 | 224 | 227 | 228 | 151 |
| Changes in Working Capital ⓘ | 75 | 67 | 9 | -66 | -54 | 32 | -161 | -40 | 172 | 109 |
| Tax Paid ⓘ | -25 | -1 | -4 | -47 | -46 | -1 | 0 | -6 | -5 | -6 |
| Cash Flow From Investing Activity ⓘ | -109 | -149 | -248 | -480 | -535 | -248 | -129 | -299 | -545 | -320 |
| Capex | -177 | -155 | -227 | -474 | -535 | -249 | -133 | -138 | -457 | -393 |
| Net Investments | 33 | 1 | -24 | -20 | -6 | -6 | -2 | -164 | -98 | 47 |
| Others ⓘ | 35 | 5 | 3 | 14 | 6 | 7 | 6 | 3 | 9 | 26 |
| Cash Flow From Financing Activityⓘ | -108 | -103 | -14 | 10 | -169 | -126 | -43 | -59 | -38 | -288 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -35 | -54 | -37 | -83 | -92 | -91 | -46 | -60 | -63 | -50 |
| Dividend Paid ⓘ | -15 | 0 | 0 | 0 | 0 | -21 | 0 | 0 | 0 | 0 |
| Others ⓘ | -57 | -50 | 22 | 93 | -77 | -15 | 2 | 0 | 25 | -238 |
| Net Cash Flow ⓘ | 15 | -10 | 7 | 7 | -8 | 14 | -13 | -8 | 2 | -6 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.44 | 1.1 | 3.72 | 15.83 | 19.86 | 4.17 | 3.29 | 5.91 | 6.61 | 11.65 |
| ROCE (%) | 2.3 | 3.16 | 5.41 | 14.38 | 18.53 | 6.03 | 4.87 | 7.16 | 8.08 | 11.96 |
| Asset Turnover Ratio | 0.92 | 0.67 | 0.73 | 0.86 | 0.95 | 0.77 | 0.83 | 1.01 | 0.84 | 0.89 |
| PAT to CFO Conversion(x) | 25.78 | 10.52 | 3.32 | 1.23 | 1.29 | 3.29 | 1.67 | 2.07 | 3.08 | 1.73 | Working Capital Days |
| Receivable Days | 11 | 14 | 12 | 11 | 13 | 21 | 19 | 10 | 9 | 9 |
| Inventory Days | 25 | 30 | 28 | 27 | 25 | 23 | 24 | 30 | 35 | 30 |
| Payable Days | 12 | 21 | 23 | 23 | 25 | 27 | 24 | 19 | 26 | 28 |
Prakash Industries incorporated in 1980, has diverse range of business. Being part of Surya Roshni group, company is founded by Shri B.D.Agarwal. The company has received various certifications such as ISO 9001:2000, ISO-14001:2004 and OHSAS-18001:2007 for its Quality management.
Business areas
Mining and Crushing- Company’s mining and crushing division is located in District Sundargarh of Orissa. Company has received iron ore mines namely Nergaon and Metabodali by the state Government located in state of Orissa. Company owns two captive coal blocks namely Chotia and Madanpur in Hasdeo-Arand coal fields.
Sponge Iron- Company manufactures sponge iron that has high metallic iron content with a consistent quality. It manufactures Sponge Iron from Rotary Kilns and waste gases generating from Rotary Kilns are utilized for generation of power in its captive power unit.
Steel Blooms/Billets/ Ingots- Company manufactures steel through Induction Furnace process for this the raw materials required are Sponge Iron, Pig Iron and MS scrap. Company produces blooms and billets of different sizes.
Steel Structural- Company’s Raipur Plant is engaged in manufacturing of steel structural of different. Under this it produces medium flange beams, heavy weight beams / columns, medium weight channels (sloping flange) and equal leg angle sections.
Wire Rods and HB wires- Company Raipur unit has manufacturing capacity of 180000 TPA of wire rod. It manufactures wire rods 5.5 mm and 8mm of diameter. Company HB wire manufacturing capacity is 60000 TPA ranging from 6 gauge to 14 Gauge.
Ferro Alloys- Company manufactures a ferro alloy which is produced in submerged Arc furnaces. Company produces this products ranging from 10 to 150 mm.
PVC Pipes- Company manufactures PVC pipes catering various segments such as irrigation, sewerages and other purposes. Company’s production facilities are located at Kashipur (Uttaranchal) and Rayya (Punjab) and have a combined capacity of 15000 MTPA.
Export- Company exports iron ore and silico manganese for which the units are located at Haldia and Champa.
Awards
Prakash Industries Ltd. has bagged many prestigious awards like:-
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