BSE: 500365 | NSE: REMIMETAL | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Welspun Specialty Solutions Ltd is a below average quality company.
The key valuation ratios of Welspun Specialty Solutions Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Welspun Specialty Solutions 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 % ⓘ | 6.1% | -7.2% | -7.8% | -2.4% | -3.2% | -28.3% | 43.7% | -5.6% | 6.1% | 20.1% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | 2.1 | -1.4 | NA | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 334 | 268 | 233 | 235 | 441 | 295 | 93.4 | 163 | 418 | 697 | 656 |
| Sales YoY Gr. | - | -19.7% | -13.2% | 1% | 87.4% | -33% | -68.4% | 74.8% | 155.9% | 66.7% | - |
| Adj EPS ⓘ | -5.4 | -5.7 | -5.6 | -5.4 | -1.2 | -1.8 | -0.1 | -0.6 | -0.3 | 1.1 | 0.8 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | -18.4 | -22.1 | -41 | -46 | -6.8 | -2.5 | 0.7 | 0.1 | -0.2 | 1 | 1 |
| Adj Net Profit ⓘ | -58.2 | -62.2 | -60.2 | -58.9 | -40.3 | -88.6 | -2.7 | -33 | -17 | 57.2 | 42 |
| Cash Flow from Ops. ⓘ | -15.3 | 24.9 | 17.7 | -5.3 | -2.4 | -26.8 | 42.8 | -84.3 | 50.1 | 7.5 | - |
| Debt/CF from Ops. ⓘ | -23.8 | 14.4 | 34.4 | -149.9 | -172.1 | -14 | 4 | -2.9 | 4.7 | 34.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.5% | 9.6% | 95.4% | 66.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | 14.1% | NA | ||||
| Share Price | 25% | 32.5% | 44.3% | 5.2% | ||||
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 % ⓘ | 50.4 | 37.9 | 19.3 | 15.3 | 15 | 55.9 | 8.1 | -80.1 | -46.7 | 93.3 | 79 |
| Op. Profit Mgn % ⓘ | -2.6 | -4.7 | -6.6 | -4.6 | -8.3 | -24 | -21.1 | -11.3 | 4 | 8 | 5.7 |
| Net Profit Mgn % ⓘ | -17.4 | -23.2 | -25.9 | -25 | -9.1 | -30 | -2.9 | -20.2 | -4.1 | 8.2 | 6.4 |
| Debt to Equity ⓘ | -2.5 | -2 | -1.4 | -1.6 | -1.8 | -3.1 | 4.6 | 5.5 | 7.9 | 2.8 | 0.2 |
| Working Cap Days ⓘ | 168 | 172 | 154 | 192 | 154 | 191 | 319 | 243 | 181 | 162 | 109 |
| Cash Conv. Cycle ⓘ | 48 | 58 | 71 | 94 | 62 | 81 | 189 | 137 | 52 | 36 | -20 |
Return on Equity has increased versus last 3 years average to 79.00%
Sales growth is growing at healthy rate in last 3 years 95.37%
Debt to equity has declined versus last 3 years average to 2.79
Sales growth is good in last 4 quarters at 11.77%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.8 | - |
| TTM Sales (₹ Cr.) | 656 | - |
| BVPS (₹.) ⓘ | 1 | - |
| Reserves (₹ Cr.) ⓘ | -267 | - |
| P/BV ⓘ | 45.26 | - |
| PE ⓘ | 55.24 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 30.68 / 58.90 |
| All Time Low / High (₹) | 1.45 / 305.00 |
| Market Cap (₹ Cr.) | 2,305 |
| Equity (₹ Cr.) | 318.1 |
| Face Value (₹) | 6 |
| Industry PE ⓘ | 21.8 |
| Pledged * | 55.95 | 0.00 | 0.00 | 0.00 | 0.00 | 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 | 334 | 268 | 233 | 235 | 441 | 295 | 93 | 163 | 418 | 697 |
| Operating Expenses ⓘ | 343 | 281 | 248 | 246 | 478 | 366 | 114 | 182 | 401 | 641 |
| Manufacturing Costs | 94 | 100 | 92 | 90 | 167 | 85 | 29 | 52 | 92 | 131 |
| Material Costs | 224 | 156 | 134 | 135 | 272 | 231 | 59 | 97 | 251 | 439 |
| Employee Cost | 16 | 17 | 16 | 14 | 25 | 34 | 19 | 23 | 33 | 42 |
| Other Costs ⓘ | 9 | 9 | 7 | 7 | 14 | 16 | 7 | 10 | 26 | 30 |
| Operating Profit ⓘ | -9 | -13 | -15 | -11 | -37 | -71 | -21 | -18 | 17 | 56 |
| Operating Profit Margin (%) | -2.7% | -4.8% | -6.6% | -4.6% | -8.5% | -24.1% | -22.1% | -11.3% | 4.0% | 8.0% |
| Other Income ⓘ | 12 | 2 | 6 | 5 | 4 | 5 | 2 | 19 | 15 | 22 |
| Interest ⓘ | 50 | 46 | 45 | 47 | 9 | 15 | 11 | 19 | 30 | 33 |
| Depreciation ⓘ | 12 | 7 | 7 | 7 | 7 | 10 | 14 | 14 | 15 | 15 |
| Exceptional Items ⓘ | 23 | 3 | 3 | 5 | 29 | 11 | 138 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 29 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -34 |
| Profit After Tax | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 62 |
| PAT Margin (%) | -11.0% | -22.4% | -25.1% | -23.2% | -4.6% | -27.6% | 99.8% | -19.9% | -3.3% | 9.0% |
| Adjusted EPS (₹) | -3.4 | -5.5 | -5.4 | -5.0 | -0.6 | -1.7 | 1.8 | -0.6 | -0.3 | 1.2 |
| 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 | -148 | -180 | -445 | -499 | -235 | -122 | 37 | 44 | 29 | 93 |
| Share Capital ⓘ | 116 | 124 | 65 | 65 | 208 | 293 | 318 | 356 | 356 | 356 |
| Reserves ⓘ | -264 | -304 | -510 | -564 | -443 | -415 | -281 | -312 | -326 | -263 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 359 | 349 | 587 | 763 | 407 | 320 | 166 | 232 | 224 | 250 |
| Long Term Debt | 200 | 291 | 496 | 485 | 258 | 218 | 153 | 232 | 219 | 122 |
| Short Term Debt | 159 | 58 | 91 | 278 | 149 | 102 | 12 | 1 | 5 | 128 |
| Trade Payables | 62 | 56 | 34 | 75 | 126 | 41 | 19 | 68 | 200 | 208 |
| Others Liabilities ⓘ | 20 | 22 | 35 | 242 | 112 | 88 | 77 | 29 | 24 | 2 |
| Total Liabilities ⓘ | 293 | 246 | 210 | 581 | 411 | 328 | 299 | 372 | 477 | 553 |
Fixed Assets | ||||||||||
| Gross Block | 430 | 431 | 431 | 432 | 399 | 525 | 543 | 546 | 550 | 555 |
| Accumulated Depreciation | 307 | 313 | 320 | 327 | 299 | 306 | 319 | 333 | 342 | 357 |
| Net Fixed Assetsⓘ | 123 | 118 | 110 | 105 | 100 | 219 | 224 | 212 | 207 | 198 |
| CWIP ⓘ | 1 | 0 | 0 | 7 | 85 | 12 | 5 | 6 | 1 | 5 |
| Investmentsⓘ | 0 | 0 | 0 | 67 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 45 | 46 | 43 | 65 | 118 | 70 | 53 | 114 | 198 | 269 |
| Trade Receivables | 66 | 65 | 42 | 80 | 71 | 10 | 10 | 15 | 41 | 49 |
| Cash Equivalents | 11 | 4 | 4 | 244 | 11 | 3 | 1 | 6 | 1 | 1 |
| Others Assetsⓘ | 46 | 14 | 11 | 11 | 26 | 14 | 6 | 18 | 28 | 32 |
| Total Assets ⓘ | 293 | 246 | 210 | 581 | 411 | 328 | 299 | 372 | 477 | 553 |
| 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 ⓘ | -15 | 25 | 18 | -5 | -2 | -27 | 43 | -84 | 50 | 7 |
| PBT ⓘ | -37 | -60 | -61 | -60 | -20 | -81 | 93 | -32 | -14 | 29 |
| Adjustment ⓘ | 30 | 49 | 51 | 55 | 17 | 28 | -101 | 33 | 45 | 48 |
| Changes in Working Capital ⓘ | -9 | 36 | 28 | -1 | 1 | 26 | 50 | -83 | 18 | -69 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | -2 | 1 | 0 |
| Cash Flow From Investing Activity ⓘ | -2 | -1 | 4 | -74 | -18 | -48 | -9 | -5 | -5 | -12 |
| Capex | -2 | -1 | 0 | -11 | -80 | -56 | -12 | -4 | -6 | -13 |
| Net Investments | 0 | 0 | 0 | -66 | 59 | 7 | 3 | -1 | 0 | 0 |
| Others ⓘ | 0 | 0 | 4 | 3 | 3 | 1 | 1 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 14 | -25 | -24 | 320 | -222 | 75 | -34 | 93 | -50 | 5 |
| Net Proceeds from Shares ⓘ | 0 | 28 | 0 | 203 | 105 | 1 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 34 | 95 | 10 | -24 | -256 | 43 | 6 | 114 | -15 | -10 |
| Interest Paid ⓘ | -49 | -47 | -45 | -47 | -27 | -14 | -10 | -12 | -40 | -20 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 29 | -101 | 11 | 187 | -44 | 45 | -30 | -9 | 5 | 34 |
| Net Cash Flow ⓘ | -3 | -1 | -2 | 241 | -243 | 0 | 0 | 5 | -5 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 0 | -150.95 | 0 | 266.11 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 43.68 | -5.55 | 6.06 | 20.11 |
| Asset Turnover Ratio | 1.12 | 1.11 | 1.15 | 0.61 | 0.89 | 0.8 | 0.3 | 0.49 | 0.98 | 1.35 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | 0.46 | N/A | N/A | 0.11 | Working Capital Days |
| Receivable Days | 87 | 80 | 74 | 92 | 63 | 50 | 40 | 28 | 25 | 24 |
| Inventory Days | 52 | 55 | 62 | 82 | 76 | 116 | 241 | 188 | 137 | 122 |
| Payable Days | 141 | 138 | 123 | 147 | 134 | 132 | 185 | 162 | 195 | 170 |
Remi Metals Gujarat (RMGL) started in 1960 when Chiranjilal Saraf started manufacturing fractional H P motors & laboratory stirrers under the name of Rajendra Electric Motor Industries.
Remi Metals Gujarat Limited, a Rs 360 crore flagship company of the Remi group is the most ambitious project so far. RMGL is an Integrated Steel (capacity 140,000 TPA) & Seamless Pipe Plant (capacity 50,000 TPA) set up in Jhagadia near Bharuch in Gujarat.
RMGL is an Electric Arc Furnace based integrated steel and seamless pipe plant. RMGL has both Ingot (minimum weight 3T) as well as CC Bloom ( maximum bloom size 300 mm sq.) casting routes of steel making.
RMGL has a Seamless Pipe / Tubes plant to maufacture 50,000 TPA of Carbon Alloy Steel Seamless Pipes / Tubesin hte size range of 1'' to 6 5/8'' in technical collaboration with M/s Intertech GmbH International Technical Assistance, (INTERTECH), Germany. The Company has also in-house Steel manufacturing and rolling capacity of 1,40,000 TPA.
RMGL is located in Gujarat on a 150 acres (60 hectares) plot near village Fulwadi, Taluka Jhagadia, District Bharuch which is 23 km from Ankleshwar, 85 kms from Dahej where a full fledged all weather port is being developed and 85 kms from Essar's Sponge Iron Plant and Hazira.
Power supply is from Jhagadia sub-station by aying a separate Industrial feeder. The project is ideally located as regards proximity to the source of raw materials, water, power, ptransport arrangements and other amenities. Also a gas line is passing just near the project site, from which gas connection wcould be obtained in future, subject to availability of gas.
Different divisions of the company:
Mannesman Demag Huttentechnik, Germany and its Indian counterpart Indomag Steel Technology, world leaders in steel making and seamless pipe technology have designed the key process equipments. Advance steel making technology through 35 MT, Ultra High Power Eccentric Bottom Tapping Arc Furnace, Refining in LRF (Landle Refining Furnace) and Degassing in VD/VOD has been inducted from MDH.The Rolling Mill also designed and manufactured by Mannesmann Demag can provide high reduction ratios in single heating.
Products portfolio of the company include:
Steel Products:
Tube Products:
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