Hitech Corporation Ltd - Stock Valuation and Financial Performance

BSE: 526217 | NSE: HITECHCORP | Plastic Products | Small Cap

Hitech Corporation Share Price

196.95 0.25 0.13%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Hitech Corporation

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Hitech Corporation stock performance -

mw4me loader
P/E Ratio (SA):
14.04
Market Cap:
339.7 Cr.
52-wk low:
153.9
52-wk high:
308.9

Is Hitech Corporation Ltd an attractive stock to invest in?

1. Is Hitech Corporation Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hitech Corporation Ltd is a average quality company.

2. Is Hitech Corporation Ltd undervalued or overvalued?

The key valuation ratios of Hitech Corporation Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Hitech Corporation Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hitech Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Hitech Corporation:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hitech Corporation Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.8%9.7%10.2%6.9%4.8%6.1%6.1%7.8%13%11.3%-
Value Creation
Index
-0.4-0.3-0.3-0.5-0.7-0.6-0.6-0.4-0.1-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 271465393367388462460447588559552
Sales YoY Gr.-71.5%-15.6%-6.5%5.8%18.9%-0.4%-2.8%31.6%-5.1%-
Adj EPS 2.94.68.15.42.23.62.77.417.614.714.1
YoY Gr.-58%78.5%-34%-59%63.6%-23.9%168.6%139.1%-16.7%-
BVPS (₹) 6474.278.983.987.395.796.3106126.3141.6149.6
Adj Net
Profit
3.86.913.99.23.86.24.712.630.225.224
Cash Flow from Ops. 17.538.641.237.342.785.656.364.872.769.3-
Debt/CF from Ops. 4.11.80.92.93.82.13.22.21.30.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.4%7.5%6.7%-5.1%
Adj EPS 19.8%46.2%74.9%-16.7%
BVPS9.2%10.2%13.7%12.1%
Share Price 14.7% 13% 16.7% 27%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.668.95.92.63.92.97.315.2119.7
Op. Profit
Mgn %
10.78.711.69.59.61112.814.314.612.712.4
Net Profit
Mgn %
1.41.53.62.511.312.85.14.54.4
Debt to
Equity
0.80.50.20.81.11.11.10.80.40.3-
Working Cap
Days
676610813014111194909112031
Cash Conv.
Cycle
404264728167555039395

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 74.94%

Return on Equity has declined versus last 3 years average to 9.70%

Sales growth has been subdued in last 3 years 6.69%

Sales growth is not so good in last 4 quarters at -4.24%

Latest Financials - Hitech Corporation Ltd.

Standalone Consolidated
TTM EPS (₹) 14.1 6.2
TTM Sales (₹ Cr.) 552 419
BVPS (₹.) 149.6 0
Reserves (₹ Cr.) 240 109
P/BV 1.32 0.00
PE 14.04 31.99
From the Market
52 Week Low / High (₹) 153.85 / 308.85
All Time Low / High (₹) 1.00 / 337.50
Market Cap (₹ Cr.) 340
Equity (₹ Cr.) 17.2
Face Value (₹) 10
Industry PE 35.1

Management X-Ray of Hitech Corporation:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Hitech Corporation

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales271465393367388462460447588559
Operating Expenses 242425347332351411401383503488
Manufacturing Costs37754832364648423742
Material Costs176298234229238285275265371350
Employee Cost 14272627293131293136
Other Costs 15253944494948476360
Operating Profit 29404635375159648671
Operating Profit Margin (%) 10.7%8.7%11.6%9.5%9.6%11.0%12.8%14.3%14.6%12.7%
Other Income 0111611115
Interest 1416119142024191614
Depreciation 10161613182130303029
Exceptional Items 0000015-36104
Profit Before Tax 69201412264225037
Tax 22644915139
Profit After Tax 471498162173728
PAT Margin (%) 1.4%1.5%3.6%2.5%2.0%3.6%0.5%3.8%6.4%5.1%
Adjusted EPS (₹)2.84.57.85.54.59.61.49.921.816.5
Dividend Payout Ratio (%)32%20%11%17%20%9%0%10%5%6%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 84144166144150164165182217243
Share Capital 13464817171717171717
Reserves 7197118127133147148165200226
Minority Interest0000000000
Debt5661301051531721571156538
Long Term Debt2795498211094633815
Short Term Debt28522556716263522723
Trade Payables10181428211616182017
Others Liabilities 2727232731514753128126
Total Liabilities 177249234303355404386369429425

Fixed Assets

Gross Block135260235152186285354347368380
Accumulated Depreciation5713813913305179103131159
Net Fixed Assets7812197139156234275243238221
CWIP 112844392326
Investments 34000011800
Inventories18263033374035394437
Trade Receivables33746187755643444337
Cash Equivalents 1321311113
Others Assets1224423539332931102121
Total Assets 177249234303355404386369429425

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 17394137438656657369
PBT 69201412264225037
Adjustment 24322724324254444136
Changes in Working Capital -1120622514-37
Tax Paid -1-5-7-6-4-7-2-6-16-11
Cash Flow From Investing Activity -6-6-7-63-80-84-25-9-6-16
Capex -6-6-8-63-81-85-26-17-19-18
Net Investments 00000017132
Others 0000001100
Cash Flow From Financing Activity -13-33-352741-6-31-52-65-54
Net Proceeds from Shares 01190000000
Net Proceeds from Borrowing -3-32-464532-5-1-23-31
Interest Paid -13-17-10-6-11-18-22-17-15-14
Dividend Paid -2-1-2-2-2-2-20-2-2
Others 67-27289-19-2-34-25-8
Net Cash Flow -10-113-5142-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)4.56.8911.386.695.2810.431.439.7618.7412.31
ROCE (%)12.6213.4414.710.069.213.797.8712.4520.8316.56
Asset Turnover Ratio1.772.411.791.51.211.221.171.191.481.31
PAT to CFO Conversion(x)4.255.572.934.115.385.38283.821.972.46
Working Capital Days
Receivable Days35385767755239362726
Inventory Days18152428323130302626
Payable Days19172534372321241919

Hitech Corporation Ltd Stock News

Hitech Corporation Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Hitech Corporation on 28-Mar-2024 16:01 is ₹196.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Hitech Corporation stood at ₹339.6.
The latest P/E ratio of Hitech Corporation as of 28-Mar-2024 16:01 is 14.04.
The latest P/B ratio of Hitech Corporation as of 28-Mar-2024 16:01 is 1.32.
The 52-week high of Hitech Corporation is ₹308.9 and the 52-week low is ₹153.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hitech Corporation is ₹551.7 ( Cr.) .

About Hitech Corporation Ltd

Hitech Plast (HPL) incorporated in 1991; is engaged in the manufacturing and marketing of innovative polymer products to various industries paints, personal care and cosmetic packaging, agro chemicals and lube, health and pharma products, confectionary and retail household products.

HPL has two subsidiaries, namely Clear Plastics and Mipak Polymers. The company has manufacturing units located at Guwahati(Assam), Dadra (Silvassa), Daman, Umergaon (Gujarat), Sitargunj (Uttarakhand), Baddi (Himachal Pradesh), Sarigam (Gujarat), Naroli (Silvassa), Puducherry and Pune.

Currently the company can manufacture containers in the size of 1/5 litre to 20 litres.

The company has entered into a technical collaboration with CHT Design Services Pty, Australia to manufacture 20 litre containers known as DG Pail. The company has seen wide acceptance for this product by he lubricants, paints, chemicals, and food industries.

The company’s manufacturing units have received ISO 9001:2000, IS0 14001:2004, OHSAS 18001:1999, and ISO 22000:2005 certifications for its quality management.

The company caters to 6 sectors, viz. Paints, Consumer Goods, Pesticides, Lube, Health care and Industrial. The company has clientele namely Asian Paints, Nerolac, Castrol, Pear, Dove, Sandoz and many more.

Milestone

1991- The company was incorporated.

1992- Company entered a technical collaboration with Flamegrace, USA – Exclusive license to manufacture “BoCans”.

1996- The company signed license agreement with CHT design services Pty to for manufacturing L 20 containers, DG pail.

1999- The company started production of DG Pails with unique Plifer Proof Design.

2001- The Company acquired 51% in Multitech Plast Containers having its unit in Silvassa.

2003- The company acquired stakes in Clear Plastics group of companies.

2004- HPL started setting up a new manufacturing unit at Puducherry and Baddi, Himachal Pradesh, through CPL.

2005- The company established a new manufacturing unit at Sri Perumbudur in Tamil Nadu.

2006- HPL acquired shares in Mipak polymers.

2007-Company started setting up of new manufacturing unit at Sitargunj, Uttarakhand.

2010 -  Establishment of new manufacturing unit at Rohtak, Haryana
           Established technology centre for design & development of moulds at Pune.
2013 - Consolidated Daman unit with Dadra and Masat with Galonda
Started commercial production in new manufacturing unit at Khandala.

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