BSE: 532721 | NSE: VISASTEEL | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Visa Steel Ltd is a below average quality company.
The key valuation ratios of Visa Steel 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 Strong which suggest that the price of Visa Steel Ltd is likely to Rise 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 % ⓘ | -1% | -4.2% | -3.8% | -0.6% | -3.4% | -4.8% | -21.8% | -2.7% | -53.8% | -7.6% | - |
| Value Creation Index ⓘ | -1.1 | NA | NA | -1.1 | -1.2 | -1.3 | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 922 | 1,011 | 1,397 | 859 | 805 | 348 | 611 | 792 | 572 | 670 | 570 |
| Sales YoY Gr. | - | 9.7% | 38.2% | -38.5% | -6.2% | -56.8% | 75.7% | 29.6% | -27.7% | 17% | - |
| Adj EPS ⓘ | -21.5 | -54.4 | -13.1 | -2.3 | -5.7 | -7.3 | -12.1 | -4.6 | -16 | -6.2 | -5.6 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 11.1 | -85.3 | -59.4 | 16.1 | 10.4 | 3 | -22.1 | -26.7 | -66.7 | -72.9 | -73.5 |
| Adj Net Profit ⓘ | -236 | -598 | -144 | -26.7 | -66.3 | -84.9 | -140 | -53.2 | -185 | -72 | -65 |
| Cash Flow from Ops. ⓘ | -210 | -390 | -2.7 | 43.2 | 55.1 | 13.4 | 15.9 | 11.8 | 24.7 | 17.4 | - |
| Debt/CF from Ops. ⓘ | -14.2 | -9 | -1404.2 | 34.2 | 24.2 | 101 | 84.9 | 114.7 | 54.6 | 78.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -3.5% | -3.6% | 3.1% | 17% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -223.2% | -247.6% | NA | NA | ||||
| Share Price | 5.8% | 45.1% | 33.2% | 127.3% | ||||
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 % ⓘ | -96.6 | 146.7 | 18.2 | 11.6 | -43.1 | -109 | 126.5 | 18.8 | 34.2 | 8.9 | 7.7 |
| Op. Profit Mgn % ⓘ | 0.6 | -1.5 | 1.2 | 1.8 | -2.8 | -17.1 | -1.6 | 2.1 | 1.3 | 0.8 | 2.2 |
| Net Profit Mgn % ⓘ | -25.6 | -59.2 | -10.3 | -3.1 | -8.2 | -24.4 | -22.9 | -6.7 | -32.3 | -10.7 | -11.4 |
| Debt to Equity ⓘ | 24.4 | -3.7 | -5.7 | 7.9 | 11.1 | 38.4 | -5.3 | -4.4 | -1.8 | -1.6 | - |
| Working Cap Days ⓘ | 163 | 141 | 119 | 241 | 244 | 477 | 259 | 205 | 156 | 24 | 16 |
| Cash Conv. Cycle ⓘ | -78 | -18 | 14 | 28 | 20 | -7 | -22 | -10 | -15 | -20 | -465 |
No data to display
Return on Equity has declined versus last 3 years average to 7.70%
Sales growth has been subdued in last 3 years 3.11%
Sales growth is not so good in last 4 quarters at -6.68%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -5.6 | -5.6 |
| TTM Sales (₹ Cr.) | 570 | 570 |
| BVPS (₹.) ⓘ | -73.5 | -73.5 |
| Reserves (₹ Cr.) ⓘ | -967 | -967 |
| P/BV ⓘ | -0.47 | -0.47 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 14.40 / 36.09 |
| All Time Low / High (₹) | 2.47 / 65.65 |
| Market Cap (₹ Cr.) | 398 |
| Equity (₹ Cr.) | 115.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 100.00 | 100.00 | 88.48 | 88.48 | 88.48 | 79.42 | 79.42 | 79.42 | 79.42 | 72.79 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 922 | 1,011 | 1,397 | 859 | 805 | 348 | 611 | 792 | 572 | 670 |
| Operating Expenses ⓘ | 924 | 1,033 | 1,381 | 844 | 828 | 407 | 621 | 776 | 565 | 665 |
| Manufacturing Costs | 114 | 148 | 248 | 225 | 214 | 111 | 217 | 269 | 243 | 181 |
| Material Costs | 682 | 727 | 959 | 495 | 521 | 222 | 317 | 454 | 272 | 441 |
| Employee Cost | 35 | 58 | 64 | 32 | 35 | 28 | 27 | 28 | 29 | 26 |
| Other Costs ⓘ | 93 | 101 | 110 | 93 | 59 | 46 | 60 | 25 | 21 | 17 |
| Operating Profit ⓘ | -2 | -22 | 16 | 14 | -23 | -59 | -10 | 16 | 8 | 5 |
| Operating Profit Margin (%) | -0.2% | -2.2% | 1.2% | 1.7% | -2.8% | -17.1% | -1.6% | 2.1% | 1.3% | 0.8% |
| Other Income ⓘ | 29 | 31 | 28 | 20 | 15 | 40 | 1 | 1 | 2 | 1 |
| Interest ⓘ | 206 | 457 | 37 | 13 | 13 | 17 | 20 | 24 | 28 | 30 |
| Depreciation ⓘ | 57 | 127 | 150 | 49 | 46 | 48 | 47 | 46 | 47 | 49 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -215 | 0 | -398 | 0 |
| Profit Before Tax ⓘ | -237 | -575 | -143 | -28 | -66 | -85 | -290 | -53 | -464 | -72 |
| Tax ⓘ | 5 | 27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -241 | -603 | -143 | -28 | -66 | -85 | -290 | -53 | -464 | -72 |
| PAT Margin (%) | -26.2% | -59.6% | -10.2% | -3.2% | -8.2% | -24.4% | -47.5% | -6.6% | -81.0% | -10.7% |
| Adjusted EPS (₹) | -22.0 | -54.8 | -13.0 | -2.4 | -5.7 | -7.3 | -25.1 | -4.5 | -40.1 | -6.2 |
| 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 | 122 | -938 | -654 | 187 | 121 | 35 | -256 | -309 | -772 | -844 |
| Share Capital ⓘ | 110 | 110 | 110 | 116 | 116 | 116 | 116 | 116 | 116 | 116 |
| Reserves ⓘ | 12 | -1,048 | -764 | 71 | 5 | -81 | -372 | -425 | -888 | -960 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 2,765 | 3,045 | 2,839 | 926 | 709 | 513 | 276 | 276 | 276 | 277 |
| Long Term Debt | 2,325 | 2,246 | 1,997 | 606 | 415 | 236 | 0 | 0 | 0 | 0 |
| Short Term Debt | 440 | 799 | 843 | 320 | 294 | 276 | 276 | 276 | 276 | 277 |
| Trade Payables | 322 | 251 | 252 | 39 | 70 | 61 | 47 | 28 | 42 | 49 |
| Others Liabilities ⓘ | 698 | 1,041 | 1,494 | 900 | 982 | 1,198 | 1,458 | 1,495 | 1,521 | 1,551 |
| Total Liabilities ⓘ | 3,908 | 3,399 | 3,932 | 2,051 | 1,881 | 1,807 | 1,526 | 1,491 | 1,068 | 1,032 |
Fixed Assets | ||||||||||
| Gross Block | 3,068 | 2,775 | 3,345 | 1,317 | 1,319 | 1,355 | 1,350 | 1,349 | 1,365 | 1,371 |
| Accumulated Depreciation | 320 | 127 | 299 | 179 | 228 | 275 | 320 | 360 | 406 | 450 |
| Net Fixed Assetsⓘ | 2,747 | 2,648 | 3,046 | 1,138 | 1,091 | 1,079 | 1,030 | 988 | 959 | 920 |
| CWIP ⓘ | 296 | 295 | 304 | 296 | 297 | 290 | 39 | 39 | 39 | 39 |
| Investmentsⓘ | 451 | 21 | 21 | 5 | 4 | 4 | 4 | 4 | 4 | 4 |
| Inventories | 112 | 117 | 186 | 73 | 63 | 17 | 19 | 12 | 8 | 8 |
| Trade Receivables | 56 | 169 | 141 | 39 | 18 | 0 | 0 | 0 | 0 | 0 |
| Cash Equivalents | 5 | 5 | 14 | 20 | 5 | 8 | 10 | 13 | 21 | 26 |
| Others Assetsⓘ | 240 | 143 | 219 | 480 | 404 | 408 | 423 | 434 | 36 | 35 |
| Total Assets ⓘ | 3,908 | 3,399 | 3,932 | 2,051 | 1,881 | 1,807 | 1,526 | 1,491 | 1,068 | 1,032 |
| 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 ⓘ | -210 | -390 | -3 | 43 | 55 | 13 | 16 | 12 | 25 | 17 |
| PBT ⓘ | -237 | -575 | -143 | -28 | -66 | -85 | -290 | -53 | -464 | -72 |
| Adjustment ⓘ | 253 | 565 | 164 | 45 | 40 | 33 | 301 | 56 | 426 | 57 |
| Changes in Working Capital ⓘ | -226 | -389 | -24 | 27 | 82 | 62 | 5 | 10 | 59 | 32 |
| Tax Paid ⓘ | 0 | 9 | 0 | -1 | -1 | 3 | 0 | -1 | 3 | 1 |
| Cash Flow From Investing Activity ⓘ | -11 | 30 | 13 | 17 | 20 | 39 | 0 | -3 | -16 | -9 |
| Capex | -50 | -2 | -12 | -1 | 3 | -1 | 0 | -3 | -17 | -9 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 39 | 32 | 25 | 18 | 17 | 41 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 221 | 362 | -1 | -56 | -90 | -47 | -14 | -9 | -8 | -8 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 292 | 148 | -7 | -42 | -51 | -10 | -2 | 0 | 0 | 0 |
| Interest Paid ⓘ | -372 | -145 | -38 | -13 | -13 | -10 | -5 | -1 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 300 | 359 | 44 | 0 | -26 | -27 | -7 | -7 | -8 | -8 |
| Net Cash Flow ⓘ | 0 | 2 | 10 | 4 | -16 | 6 | 2 | 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 (%) | -98.66 | N/A | N/A | 0 | -43.02 | -108.85 | N/A | N/A | N/A | N/A |
| ROCE (%) | -1.04 | N/A | N/A | -0.63 | -3.4 | -4.79 | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 0.26 | 0.3 | 0.41 | 0.29 | 0.41 | 0.19 | 0.37 | 0.53 | 0.45 | 0.64 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 18 | 38 | 38 | 38 | 13 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 49 | 39 | 37 | 55 | 31 | 42 | 11 | 7 | 6 | 4 |
| Payable Days | 193 | 144 | 96 | 107 | 38 | 108 | 63 | 30 | 47 | 38 |
Visa Steel (VSL), incorporated in 1996, is part of Visa Group. Headquartered at Kolkata, the company has manufacturing facilities located at Kalinganagar and Golagaoan.VISA Steel Limited is a subsidiary of VISA Infrastructure Limited. The VISA Group is a minerals, metals and energy conglomerate with business interests in Steel, Power, Cement, International Trading and Urban Infrastructure etc.
VISA Steel is a leading player in the Indian Special Steel and Ferro Chrome. It has its Registered office in Bhubaneswar; Corporate office in Kolkata and Branch offices across India.
The company has presence in countries like
In 2013 VISA Steel Limited and SunCoke Energy, Inc. formed their coke making joint venture in India.
Manufacturing facilities
The company’s manufacturing facility, located at Kalinganagar, has a production capacity of 225,000 tonne per annum (TPA) of pig iron, 4,00,000, 50,000 TPA ferro chrome and TPA of coke oven.
VSL’s Golagaon manufacturing facility has a chrome ore beneficiation plant and a chrome ore grinding plant with an installed capacity of 1,00,000 TPA each.
Products
Pig Iron- The company manufactures three grade of pig iron such as basic, foundry and special that have applications in casting and steel making.
LAM Coke- VSL manufactures good quality coke by blending low cost soft coking coals with hard coking coals. Generally this coke is sold to blast furnaces, ferro alloy plants, chemical plants and foundries across
The company produces chrome concentrate that has application in ferro chrome/ stainless steel production. It also produces 50000 TPA of ferro chrome.
The steel major entered into a 51:49 joint venture with Bao Steel to form Visa Bao. Visa Bao was formed to set up a 1,00,000 tonne ferro-chrome plant in Orissa for an investment of Rs 260 crore.
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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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