BSE: 544204 | NSE: VRAJ | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Vraj Iron & Steel Ltd is a average quality company.
The key valuation ratios of Vraj Iron & 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 Weak which suggest that the price of Vraj Iron & Steel 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'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 20.4% | 36.7% | 51.2% | 37.1% | - |
| Value Creation Index ⓘ | 0.5 | 1.6 | 2.7 | 1.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 284 | 402 | 516 | 420 | 420 |
| Sales YoY Gr. | - | 41.7% | 28.3% | -18.6% | - |
| Adj EPS ⓘ | 3.9 | 11.1 | 20.7 | 21.8 | 16.4 |
| YoY Gr. | - | 182.5% | 85.7% | 5.3% | - |
| BVPS (₹) ⓘ | 22.5 | 33.6 | 54.5 | 76.2 | 111.2 |
| Adj Net Profit ⓘ | 9.7 | 27.5 | 51.1 | 53.8 | 54 |
| Cash Flow from Ops. ⓘ | 23.8 | 7.4 | 62.9 | 19.2 | - |
| Debt/CF from Ops. ⓘ | 1.9 | 5.7 | 0.4 | 3.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 14% | -18.6% | ||||
| Adj EPS ⓘ | NA | NA | 76.8% | 5.3% | ||||
| BVPSⓘ | NA | NA | 50.2% | 39.9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 17.5 | 39.6 | 46.9 | 33.3 | 17.5 |
| Op. Profit Mgn % ⓘ | 9.8 | 12 | 15 | 18.3 | 18 |
| Net Profit Mgn % ⓘ | 3.4 | 6.8 | 9.9 | 12.8 | 12.9 |
| Debt to Equity ⓘ | 0.8 | 0.5 | 0.2 | 0.3 | 0 |
| Working Cap Days ⓘ | 0 | 55 | 71 | 108 | 62 |
| Cash Conv. Cycle ⓘ | 0 | 23 | 22 | 30 | 52 |
Sales growth is growing at healthy rate in last 3 years 13.95%
Net Profit is growing at healthy rate in last 3 years 76.79%
Return on Equity has declined versus last 3 years average to 17.50%
Sales growth is not so good in last 4 quarters at -7.56%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 16.4 | 17.4 |
| TTM Sales (₹ Cr.) | 420 | 420 |
| BVPS (₹.) ⓘ | 111.2 | 114.8 |
| Reserves (₹ Cr.) ⓘ | 334 | 345 |
| P/BV ⓘ | 1.97 | 1.91 |
| PE ⓘ | 13.37 | 12.61 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 210.00 / 296.15 |
| All Time Low / High (₹) | 210.00 / 296.15 |
| Market Cap (₹ Cr.) | 724 |
| Equity (₹ Cr.) | 33 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 284 | 402 | 516 | 420 |
| Operating Expenses ⓘ | 256 | 354 | 439 | 343 |
| Manufacturing Costs | 74 | 86 | 45 | 46 |
| Material Costs | 173 | 253 | 383 | 283 |
| Employee Cost | 4 | 6 | 7 | 9 |
| Other Costs ⓘ | 4 | 9 | 4 | 6 |
| Operating Profit ⓘ | 28 | 48 | 77 | 77 |
| Operating Profit Margin (%) | 9.8% | 12.0% | 15.0% | 18.3% |
| Other Income ⓘ | 0 | 0 | 2 | 4 |
| Interest ⓘ | 6 | 4 | 3 | 3 |
| Depreciation ⓘ | 7 | 7 | 6 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 15 | 37 | 69 | 73 |
| Tax ⓘ | 5 | 10 | 18 | 18 |
| Profit After Tax | 10 | 28 | 51 | 54 |
| PAT Margin (%) | 3.4% | 6.8% | 9.9% | 12.9% |
| Adjusted EPS (₹) | 3.9 | 11.1 | 20.7 | 21.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 56 | 83 | 135 | 188 | ||||||
| Share Capital ⓘ | 5 | 5 | 5 | 25 | ||||||
| Reserves ⓘ | 51 | 78 | 130 | 164 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 38 | 34 | 14 | 61 | ||||||
| Long Term Debt | 28 | 17 | 8 | 51 | ||||||
| Short Term Debt | 10 | 17 | 6 | 10 | ||||||
| Trade Payables | 12 | 8 | 13 | 10 | ||||||
| Others Liabilities ⓘ | 17 | 21 | 38 | 27 | ||||||
| Total Liabilities ⓘ | 123 | 146 | 200 | 286 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 93 | 95 | 97 | 98 | ||||||
| Accumulated Depreciation | 31 | 38 | 44 | 50 | ||||||
| Net Fixed Assetsⓘ | 62 | 56 | 53 | 48 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 64 | ||||||
| Investmentsⓘ | 11 | 11 | 12 | 11 | ||||||
| Inventories | 22 | 32 | 32 | 42 | ||||||
| Trade Receivables | 7 | 12 | 13 | 12 | ||||||
| Cash Equivalents | 3 | 4 | 9 | 40 | ||||||
| Others Assetsⓘ | 17 | 30 | 81 | 70 | ||||||
| Total Assets ⓘ | 123 | 146 | 200 | 286 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 24 | 7 | 63 | 19 |
| PBT ⓘ | 15 | 37 | 69 | 73 |
| Adjustment ⓘ | 6 | 0 | 8 | 4 |
| Changes in Working Capital ⓘ | 3 | -30 | 4 | -37 |
| Tax Paid ⓘ | 0 | 0 | -18 | -21 |
| Cash Flow From Investing Activity ⓘ | -6 | -1 | -40 | -56 |
| Capex | -4 | -1 | -2 | -1 |
| Net Investments | 0 | 0 | -5 | -30 |
| Others ⓘ | -2 | 1 | -34 | -24 |
| Cash Flow From Financing Activityⓘ | -16 | -6 | -23 | 36 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -14 | -11 | -9 | 43 |
| Interest Paid ⓘ | -3 | -3 | -3 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 8 | -11 | -5 |
| Net Cash Flow ⓘ | 2 | 1 | 0 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 17.52 | 39.68 | 46.97 | 33.51 | ||||||
| ROCE (%) | 20.41 | 36.68 | 51.2 | 37.05 | ||||||
| Asset Turnover Ratio | 2.3 | 2.99 | 2.99 | 1.73 | ||||||
| PAT to CFO Conversion(x) | 2.4 | 0.25 | 1.24 | 0.35 | Working Capital Days | |||||
| Receivable Days | 9 | 9 | 9 | 11 | ||||||
| Inventory Days | 29 | 25 | 23 | 32 | ||||||
| Payable Days | 25 | 14 | 10 | 15 | ||||||
The company was originally incorporated as “Phil Ispat Private Limited” as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated June 16, 2004 issued by the Registrar of Companies, Madhya Pradesh and Chhattisgarh. Pursuant to special resolution passed by the shareholders of the company at the extraordinary general meeting held on September 29, 2023, the name of the company was changed to “Vraj Iron & Steel Private Limited” and a fresh certificate of incorporation pursuant to change of name dated October 30, 2023 was issued by Registrar of Companies, Chhattisgarh. Thereafter, the company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the company at the extraordinary general meeting held on October 31, 2023 and the name of the company was changed to “Vraj Iron & Steel Limited” and a fresh certificate of incorporation consequent upon conversion to a public limited company dated November 10, 2023 was issued to the company by the Registrar of Companies, Chhattisgarh.
The company is engaged in manufacturing of Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj. It currently operates through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. The company is in the process of increasing the capacities of its existing manufacturing plants and captive power plant, which is expected to increase its aggregate installed capacity (comprising of intermediate and final products) from 2,31,600 TPA to 5,00,100 TPA and captive power plants aggregate installed capacity from 5 MW to 20 MW. The company’s product offerings such as Sponge Iron, TMT Bar, MS Billets and by-products Dolochar, Pellet and Pig Iron cater to a mix of customers that consist of industrial customers and end-users. It sells its products directly as well as through brokers / dealers. As part of its initiatives towards continual improvement, it has obtained the Environment Management System Certification under the new standard of ISO 14001: 2015 for Raipur Plant.
Business area of the company
The company manufactures Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.
Major events and milestones
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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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