BSE: 533239 | NSE: PRAKASHSTL | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Prakash Steelage Ltd is a below average quality company.
The key valuation ratios of Prakash Steelage 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 Prakash Steelage 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 % ⓘ | 13.1% | -13.8% | -54% | -296.3% | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Value Creation Index ⓘ | -0.1 | -2.0 | NA | NA | NA | NA | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,072 | 555 | 145 | 45.6 | 43 | 32.5 | 24.5 | 46.2 | 95 | 106 | 88 |
| Sales YoY Gr. | - | -48.2% | -73.9% | -68.6% | -5.8% | -24.4% | -24.7% | 88.9% | 105.5% | 11.4% | - |
| Adj EPS ⓘ | 0.8 | -3.9 | -4.4 | -3.8 | 0.4 | 0.2 | 1 | 12.1 | 0.3 | 3.3 | 2.1 |
| YoY Gr. | - | -600% | NA | NA | NA | -55.8% | 415.8% | 1132.7% | -97.4% | 967.7% | - |
| BVPS (₹) ⓘ | 11 | 6.3 | -2.3 | -16.1 | -15.3 | -15.3 | -12.4 | -3.1 | -2.9 | 0.4 | 0.5 |
| Adj Net Profit ⓘ | 13.7 | -68.3 | -76.3 | -67 | 7.5 | 3.2 | 17.1 | 211 | 5.4 | 57.9 | 36 |
| Cash Flow from Ops. ⓘ | 51.4 | 25 | -54.4 | 0.6 | -20.5 | 0.1 | 0.5 | 37.9 | 6.1 | 29.2 | - |
| Debt/CF from Ops. ⓘ | 4.8 | 8.1 | -4.6 | 439.5 | -11.9 | 1751.1 | 403.6 | 0.9 | 4.8 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -22.7% | 19.7% | 62.9% | 11.4% | ||||
| Adj EPS ⓘ | 17.4% | 50.4% | 50% | 967.7% | ||||
| BVPSⓘ | -30.1% | NA | NA | NA | ||||
| Share Price | -6.3% | 107.8% | 26.7% | 42.6% | ||||
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 % ⓘ | 7.4 | -45.2 | -219.3 | 41.5 | -2.7 | -1.2 | -7.1 | -155.5 | -10.4 | -272.7 | 467.4 |
| Op. Profit Mgn % ⓘ | 6.5 | -6.3 | -31.5 | 2.5 | 9.2 | 16.8 | -9.1 | 14.8 | 4.5 | 3.4 | 1.1 |
| Net Profit Mgn % ⓘ | 1.3 | -12.3 | -52.6 | -146.8 | 17.4 | 10 | 70 | 457.5 | 5.7 | 54.7 | 41.5 |
| Debt to Equity ⓘ | 1.3 | 1.8 | -6.1 | -0.9 | -0.9 | -0.9 | -0.9 | -0.6 | -0.6 | 0 | 0 |
| Working Cap Days ⓘ | 208 | 376 | 951 | 1,374 | 348 | 337 | 322 | 198 | 115 | 107 | 63 |
| Cash Conv. Cycle ⓘ | 104 | 170 | 370 | -180 | -662 | -555 | -475 | -330 | -111 | -52 | 3 |
Return on Equity has increased versus last 3 years average to 467.40%
Sales growth is growing at healthy rate in last 3 years 62.90%
Sales growth is not so good in last 4 quarters at -22.25%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.1 | -5 |
| TTM Sales (₹ Cr.) | 87.6 | 565 |
| BVPS (₹.) ⓘ | 0.5 | 0 |
| Reserves (₹ Cr.) ⓘ | -10 | 93 |
| P/BV ⓘ | 18.24 | 0.00 |
| PE ⓘ | 3.91 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 5.29 / 16.63 |
| All Time Low / High (₹) | 0.19 / 24.29 |
| Market Cap (₹ Cr.) | 142 |
| Equity (₹ Cr.) | 17.5 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 5.41 | 0.10 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,072 | 555 | 145 | 46 | 43 | 33 | 24 | 46 | 95 | 106 |
| Operating Expenses ⓘ | 1,005 | 590 | 191 | 45 | 40 | 29 | 27 | 43 | 92 | 102 |
| Manufacturing Costs | 21 | 9 | 4 | 2 | 3 | 3 | 3 | 5 | 7 | 8 |
| Material Costs | 951 | 562 | 179 | 37 | 27 | 20 | 20 | 28 | 78 | 86 |
| Employee Cost | 10 | 6 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 3 |
| Other Costs ⓘ | 22 | 13 | 5 | 3 | 8 | 4 | 3 | 7 | 5 | 4 |
| Operating Profit ⓘ | 67 | -35 | -46 | 1 | 3 | 4 | -2 | 4 | 2 | 4 |
| Operating Profit Margin (%) | 6.3% | -6.3% | -31.6% | 2.4% | 6.4% | 11.2% | -9.2% | 7.9% | 2.6% | 3.4% |
| Other Income ⓘ | 12 | 13 | 19 | 3 | 22 | 1 | 1 | 40 | 2 | 21 |
| Interest ⓘ | 36 | 29 | 11 | 0 | 0 | 0 | 0 | 3 | 0 | 0 |
| Depreciation ⓘ | 11 | 8 | 3 | 3 | 2 | 2 | 2 | 1 | 1 | 1 |
| Exceptional Items ⓘ | -10 | -22 | -110 | -249 | -9 | -3 | 47 | 124 | 0 | 35 |
| Profit Before Tax ⓘ | 21 | -81 | -151 | -248 | 14 | -1 | 44 | 163 | 3 | 58 |
| Tax ⓘ | 7 | 1 | 0 | -8 | 0 | -1 | -6 | 0 | -1 | 0 |
| Profit After Tax | 14 | -81 | -152 | -241 | 14 | 0 | 51 | 164 | 4 | 58 |
| PAT Margin (%) | 1.3% | -14.7% | -104.0% | -527.0% | 32.0% | -0.7% | 207.5% | 353.7% | 4.4% | 54.7% |
| Adjusted EPS (₹) | 0.8 | -4.7 | -8.7 | -13.8 | 0.8 | 0.0 | 2.9 | 9.3 | 0.2 | 3.3 |
| Dividend Payout Ratio (%) | 6% | 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 | 192 | 111 | -41 | -282 | -268 | -268 | -218 | -54 | -50 | 8 |
| Share Capital ⓘ | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
| Reserves ⓘ | 174 | 93 | -58 | -299 | -286 | -286 | -235 | -72 | -68 | -10 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 238 | 203 | 247 | 243 | 243 | 243 | 192 | 34 | 29 | 0 |
| Long Term Debt | 48 | 27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 190 | 176 | 247 | 243 | 243 | 243 | 192 | 34 | 29 | 0 |
| Trade Payables | 317 | 120 | 107 | 94 | 68 | 51 | 49 | 52 | 52 | 26 |
| Others Liabilities ⓘ | 50 | 63 | 17 | 11 | 10 | 12 | 6 | 6 | 5 | 5 |
| Total Liabilities ⓘ | 797 | 497 | 330 | 66 | 53 | 38 | 30 | 37 | 36 | 39 |
Fixed Assets | ||||||||||
| Gross Block | 128 | 40 | 34 | 38 | 32 | 32 | 32 | 27 | 27 | 28 |
| Accumulated Depreciation | 47 | 21 | 21 | 22 | 19 | 21 | 22 | 21 | 21 | 22 |
| Net Fixed Assetsⓘ | 81 | 19 | 14 | 16 | 13 | 11 | 9 | 6 | 6 | 6 |
| CWIP ⓘ | 1 | 5 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 3 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 |
| Inventories | 266 | 46 | 19 | 8 | 7 | 11 | 10 | 20 | 16 | 18 |
| Trade Receivables | 366 | 299 | 137 | 23 | 14 | 9 | 6 | 4 | 10 | 12 |
| Cash Equivalents | 9 | 4 | 2 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Others Assetsⓘ | 74 | 121 | 150 | 15 | 16 | 3 | 4 | 7 | 3 | 3 |
| Total Assets ⓘ | 797 | 497 | 330 | 66 | 53 | 38 | 30 | 37 | 36 | 39 |
| 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 ⓘ | 51 | 25 | -54 | 1 | -20 | 0 | 0 | 38 | 6 | 29 |
| PBT ⓘ | 32 | -58 | -151 | -248 | 14 | -1 | 44 | 163 | 3 | 58 |
| Adjustment ⓘ | 32 | 13 | -6 | 1 | -18 | 4 | -47 | -117 | 1 | -54 |
| Changes in Working Capital ⓘ | -6 | 72 | 103 | 248 | -16 | -5 | 3 | -8 | 2 | 25 |
| Tax Paid ⓘ | -7 | -1 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | 45 | 21 | 4 | 20 | 0 | 51 | 0 | -1 | -1 |
| Capex | -10 | 42 | 3 | 2 | 20 | 0 | 50 | 0 | 0 | -1 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 10 | 2 | 18 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -58 | -71 | 33 | -4 | 0 | 0 | -51 | -38 | -5 | -29 |
| 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 ⓘ | -36 | -29 | -11 | 0 | 0 | 0 | 0 | -3 | 0 | 0 |
| Dividend Paid ⓘ | -2 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -20 | -42 | 44 | -4 | 0 | 0 | -51 | -34 | -5 | -29 |
| Net Cash Flow ⓘ | -7 | -2 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.57 | -53.86 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| ROCE (%) | 13.08 | -13.82 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Asset Turnover Ratio | 1.52 | 0.88 | 0.36 | 0.24 | 0.73 | 0.72 | 0.72 | 1.37 | 2.57 | 2.8 |
| PAT to CFO Conversion(x) | 3.64 | N/A | N/A | N/A | -1.43 | N/A | 0 | 0.23 | 1.5 | 0.5 | Working Capital Days |
| Receivable Days | 108 | 213 | 537 | 624 | 156 | 128 | 111 | 39 | 27 | 39 |
| Inventory Days | 79 | 100 | 80 | 105 | 63 | 103 | 156 | 117 | 68 | 57 |
| Payable Days | 91 | 142 | 230 | 986 | 1,093 | 1,097 | 933 | 644 | 242 | 166 |
Prakash Steelage Limited, a Prakash Group company was incorporated on May 9, 1991 under the Companies Act, 1956 as ‘Prakash Steelage Private Limited’ vide Certificate of Incorporation issued by the Registrar of Companies, Maharashtra, Mumbai The Company was later converted into a public company and the name was changed to ‘Prakash Steelage Limited’, pursuant to a shareholders resolution dated July 7, 1997 and received a Certificate of Change of Name on August 12, 1997. The promoters of the company are Mr. Prakash C. Kanugo and Mr. Ashok M. Seth.
Prakash Group was started in the year 1976 and has 30 years of track record of stability, trust & growth. From trading to manufacturing value added steel products, PSL has pre-eminent position in importation, stocking and supplying Flat and Long Stainless Steel segment in India.
The company first started off with trading activity i.e; trading in the stainless steel sheets, coils and plates. Subsequently it started its own manufacturing activity in the year 1996 by setting its first plant in the Union Territory of Dadra and Nagar Haveli with a capacity of 4000 MT per annum of welded stainless steel and seamless pipes & tubes. Considering the huge demand and future business potential it subsequently started its second unit at Umbergaon, Gujarat by setting a state of art manufacturing plant with the capacity of 8200 MT of welded stainless steel and seamless pipes & tubes in the year 2007. The company is amongst the premier and an established manufacturer of a wide range of SS pipes and tubes.
The company is a “Govt. Recognized Star Export House†exporting to several MNC’s into more than 40 countries across the Globe. Its products are exported to Countries round the globe. It export its products to Countries like North America, South East Asia, Africa, Middle-East and Europe. It enjoys credible relationship with Aminco China LLC (China), A. Hadi (Saudi Arabia), Bronswerk Heat Transfer BV Nijkerk, (Netherlands), CT Co. (Egypt), Cunado (Spain), Gea process engg. SPA., Ssna, LLC (USA), S.A.S, (Norway), Serck Service Ltd. (Dubai) and STI Ltd., (UK).
Products
Prakash Steelage Ltd. specializes in meeting specific requirements of customers and offers complete solution for stainless steel welded & seamless pipes and tubes. The different products manufactured by the Company includes the following. The product varies depending on its type, shape and size.
Clientele:
The company’s top ten client base based on the sales value of the products supplied to them for the year ended March 31, 2010 are as follows:
Milestones:
Awards/ recognition
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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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