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BSE: 522165 | NSE: | Ferro & Silica Manganese | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indsil Hydro Power and Manganese Ltd is a below average quality company.
The key valuation ratios of Indsil Hydro Power and Manganese Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Indsil Hydro Power and Manganese 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.
| Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13.5% | 12.6% | 5.1% | 6.1% | 10% | 4.6% | -3.3% | -1.3% | 14.7% | 1.7% | - |
| Value Creation Index ⓘ | 0.0 | -0.1 | -0.6 | -0.6 | -0.3 | -0.7 | -1.2 | -1.1 | 0.1 | -0.9 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 116 | 111 | 87 | 116 | 293 | 224 | 128 | 61 | 208 | 177 | 145 |
| Sales YoY Gr. | - | -4.5% | -21.7% | 32.8% | 153.1% | -23.6% | -42.9% | -52.2% | 241.5% | -15.2% | - |
| Adj EPS ⓘ | 7.2 | 6.9 | 3.2 | 1.8 | 6.8 | -0 | -8.8 | -6.2 | 9.3 | -1.9 | -3.3 |
| YoY Gr. | - | -4.7% | -53.3% | -42.7% | 271.2% | -100.6% | NA | NA | NA | -120.3% | - |
| BVPS (₹) ⓘ | 53.2 | 59.9 | 82.4 | 62.4 | 112.4 | 56.9 | 48.4 | 34.9 | 46.1 | 43.9 | 40.4 |
| Adj Net Profit ⓘ | 11.5 | 10.9 | 5.1 | 2.9 | 10.9 | -0.1 | -24.4 | -17.2 | 25.9 | -5.3 | -9 |
| Cash Flow from Ops. ⓘ | 9.8 | -1.1 | -5.6 | 10.6 | -1.2 | 1.3 | -12 | 2.1 | 15.2 | 16.6 | - |
| Debt/CF from Ops. ⓘ | 2.4 | -24.6 | -8.4 | 2.7 | -113.1 | 101.9 | -11 | 66 | 7 | 6.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.8% | -9.6% | 11.5% | -15.2% | ||||
| Adj EPS ⓘ | -186.2% | -177.3% | NA | -120.3% | ||||
| BVPSⓘ | -2.1% | -17.1% | -3.2% | -4.8% | ||||
| Share Price | 7.7% | -2.8% | 62.5% | 47.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.3 | 12.2 | 4 | 3 | 7.1 | -0.1 | -15.1 | -13.1 | 20.3 | -3.8 | -7.9 |
| Op. Profit Mgn % ⓘ | 10.2 | 9.2 | 5.6 | 7.8 | 8.7 | 8.3 | -2.7 | 19.9 | 16.5 | 9.6 | 2.3 |
| Net Profit Mgn % ⓘ | 9.9 | 9.8 | 5.9 | 2.5 | 3.7 | -0.1 | -19.1 | -28.1 | 12.4 | -3 | -6.4 |
| Debt to Equity ⓘ | 0.3 | 0.3 | 0.4 | 0.3 | 0.7 | 0.7 | 0.9 | 1.3 | 0.7 | 0.8 | - |
| Working Cap Days ⓘ | 203 | 232 | 437 | 317 | 207 | 363 | 555 | 963 | 278 | 301 | 200 |
| Cash Conv. Cycle ⓘ | 23 | 52 | 111 | 85 | 89 | 195 | 336 | 559 | 179 | 225 | 145 |
Sales growth is growing at healthy rate in last 3 years 11.46%
Debt to equity has declined versus last 3 years average to 0.77
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -20.33%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -3.3 | -4.9 |
| TTM Sales (₹ Cr.) | 145 | 145 |
| BVPS (₹.) ⓘ | 40.4 | 36.4 |
| Reserves (₹ Cr.) ⓘ | 85 | 73 |
| P/BV ⓘ | 1.28 | 1.42 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 30.00 / 73.95 |
| All Time Low / High (₹) | 1.26 / 226.85 |
| Market Cap (₹ Cr.) | 144 |
| Equity (₹ Cr.) | 27.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 10.8 |
| Pledged * | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 | 74.26 |
| PARTICULARS | Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 116 | 111 | 65 | 116 | 293 | 224 | 128 | 61 | 208 | 177 |
| Operating Expenses ⓘ | 105 | 101 | 62 | 107 | 267 | 205 | 131 | 49 | 174 | 160 |
| Manufacturing Costs | 24 | 17 | 13 | 34 | 87 | 58 | 35 | 14 | 39 | 30 |
| Material Costs | 69 | 70 | 39 | 60 | 157 | 128 | 75 | 24 | 116 | 114 |
| Employee Cost | 6 | 7 | 6 | 9 | 13 | 13 | 13 | 8 | 13 | 13 |
| Other Costs ⓘ | 7 | 7 | 4 | 5 | 10 | 7 | 8 | 3 | 7 | 3 |
| Operating Profit ⓘ | 11 | 10 | 4 | 8 | 25 | 18 | -3 | 12 | 34 | 17 |
| Operating Profit Margin (%) | 9.5% | 9.2% | 5.6% | 7.2% | 8.7% | 8.3% | -2.7% | 19.9% | 16.3% | 9.6% |
| Other Income ⓘ | 8 | 14 | 8 | 6 | 13 | 13 | 8 | 2 | 12 | 2 |
| Interest ⓘ | 4 | 5 | 4 | 7 | 18 | 21 | 21 | 19 | 16 | 14 |
| Depreciation ⓘ | 4 | 4 | 3 | 4 | 6 | 7 | 7 | 7 | 5 | 4 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -29 | 0 | 0 |
| Profit Before Tax ⓘ | 11 | 15 | 5 | 2 | 14 | 3 | -23 | -41 | 25 | 1 |
| Tax ⓘ | 0 | 3 | 1 | 0 | 2 | 3 | -1 | -4 | -7 | 7 |
| Profit After Tax | 11 | 12 | 4 | 3 | 12 | 0 | -22 | -37 | 33 | -5 |
| PAT Margin (%) | 9.3% | 10.9% | 6.1% | 2.2% | 4.0% | 0.0% | -17.3% | -61.4% | 15.7% | -3.0% |
| Adjusted EPS (₹) | 6.8 | 7.7 | 2.5 | 1.6 | 6.5 | -0.3 | -8.5 | -13.5 | 11.5 | -2.2 |
| Dividend Payout Ratio (%) | 18% | 16% | 24% | 51% | 11% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 85 | 95 | 98 | 99 | 194 | 173 | 149 | 112 | 143 | 137 |
| Share Capital ⓘ | 16 | 16 | 16 | 16 | 31 | 43 | 43 | 43 | 43 | 43 |
| Reserves ⓘ | 69 | 79 | 82 | 83 | 163 | 130 | 107 | 69 | 100 | 94 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 20 | 22 | 30 | 23 | 124 | 108 | 127 | 136 | 104 | 102 |
| Long Term Debt | 5 | 6 | 15 | 17 | 31 | 25 | 36 | 31 | 23 | 20 |
| Short Term Debt | 14 | 16 | 15 | 6 | 92 | 83 | 92 | 105 | 81 | 82 |
| Trade Payables | 22 | 17 | 14 | 20 | 26 | 33 | 36 | 32 | 13 | 7 |
| Others Liabilities ⓘ | 24 | 25 | 25 | 27 | 55 | 57 | 33 | 33 | 20 | 15 |
| Total Liabilities ⓘ | 150 | 159 | 167 | 169 | 398 | 371 | 346 | 313 | 280 | 261 |
Fixed Assets | ||||||||||
| Gross Block | 90 | 96 | 96 | 98 | 185 | 207 | 216 | 217 | 159 | 159 |
| Accumulated Depreciation | 54 | 58 | 61 | 66 | 109 | 122 | 122 | 129 | 95 | 99 |
| Net Fixed Assetsⓘ | 36 | 37 | 35 | 32 | 77 | 85 | 95 | 88 | 64 | 60 |
| CWIP ⓘ | 5 | 0 | 0 | 0 | 1 | 2 | 3 | 1 | 1 | 1 |
| Investmentsⓘ | 22 | 22 | 22 | 22 | 59 | 41 | 40 | 40 | 40 | 40 |
| Inventories | 30 | 33 | 23 | 28 | 133 | 150 | 155 | 139 | 134 | 123 |
| Trade Receivables | 10 | 18 | 21 | 23 | 28 | 23 | 8 | 5 | 10 | 9 |
| Cash Equivalents | 7 | 5 | 4 | 4 | 6 | 4 | 3 | 4 | 2 | 1 |
| Others Assetsⓘ | 40 | 45 | 62 | 59 | 94 | 65 | 42 | 36 | 30 | 27 |
| Total Assets ⓘ | 150 | 159 | 167 | 169 | 398 | 371 | 346 | 313 | 280 | 261 |
| PARTICULARS | Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 10 | -1 | -4 | 11 | -1 | 1 | -12 | 2 | 15 | 17 |
| PBT ⓘ | 11 | 15 | 5 | 2 | 14 | 3 | -23 | -41 | 25 | 1 |
| Adjustment ⓘ | 7 | 6 | 5 | 7 | 82 | -17 | 24 | 58 | 11 | 14 |
| Changes in Working Capital ⓘ | -7 | -20 | -13 | 1 | -95 | 16 | -13 | -14 | -21 | 1 |
| Tax Paid ⓘ | -1 | -2 | -1 | 0 | -2 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | 4 | 2 | 3 | -66 | -1 | -12 | 2 | 20 | 0 |
| Capex | -1 | 0 | 0 | -2 | -51 | -17 | -16 | 1 | 29 | 0 |
| Net Investments | -1 | 1 | 0 | 0 | -25 | 6 | 1 | 0 | -9 | 0 |
| Others ⓘ | 1 | 3 | 2 | 4 | 10 | 10 | 3 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -7 | -3 | 2 | -7 | -6 | -3 | 15 | -19 | -11 | -19 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 27 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 3 | 2 | 8 | 1 | 15 | -7 | 11 | -5 | -9 | -3 |
| Interest Paid ⓘ | -4 | -5 | -4 | -7 | -18 | -21 | -21 | -19 | -16 | -14 |
| Dividend Paid ⓘ | -1 | -2 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -6 | 2 | -2 | -1 | -29 | 25 | 25 | 5 | 14 | -2 |
| Net Cash Flow ⓘ | 2 | 0 | 0 | 6 | -73 | -3 | -9 | -16 | 24 | -2 |
| PARTICULARS | Jun'14 | Jun'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 13.54 | 13.52 | 4.13 | 2.54 | 8.52 | 0.03 | -15.14 | -32.35 | 28.98 | -4.19 |
| ROCE (%) | 14.15 | 17.53 | 6.6 | 7.45 | 13.53 | 7.5 | -0.78 | -8.06 | 16.37 | 6.12 |
| Asset Turnover Ratio | 0.94 | 0.89 | 0.52 | 0.74 | 1.14 | 0.64 | 0.41 | 0.22 | 0.78 | 0.74 |
| PAT to CFO Conversion(x) | 0.91 | -0.08 | -1 | 3.67 | -0.08 | N/A | N/A | N/A | 0.45 | N/A | Working Capital Days |
| Receivable Days | 24 | 37 | 85 | 66 | 29 | 37 | 39 | 32 | 11 | 17 |
| Inventory Days | 79 | 83 | 120 | 75 | 91 | 208 | 382 | 736 | 215 | 233 |
| Payable Days | 120 | 101 | 141 | 103 | 54 | 84 | 167 | 529 | 71 | 33 |
Indsil Hydro Power and Manganese Ltd., formerly the Indsil Electrosmelts Ltd , an Indsil Group of company was incorporated as a public limited company under the Companies Act 1956 on August 30, 1990.The company changed its name to the present in January 2009.
The company is engaged in the generation of electricity from its captive hydro electric power plant in Kerala, India. The company also involves in ferro alloy smelting. It offers low carbon silico manganese primarily to steel and stainless steel manufacturers in India; and mild steel ingots.The company operates a 21 MW hydro electric power plant.
Indsil Group of Companies is manufacturing ferro alloys, calcium carbide. They have two manufacturing units one in Kerala South India and other one in Raipur Chattisgar North India. Both the plants are backed up by hydel and thermal power plants. The ferro alloy plants are producing the products like low carbon silico manganese, low carbon ferro manganese, high carbon silico manganese, and high carbon ferro manganese and calcium carbide.
Indsil, with business interests in speciality alloys and power generation is a fast growing group with well integrated manufacturing plants and a well diversified geographical base. The group's revenues are currently around Rs.2500 million / annum.
Indsil Electrosmelts Limited and its group companies have signed a 50:50 Joint venture agreement with Good Earth group based at Nagpur on March 7, 2008, to jointly operate an already acquired manganese ore mine in Indonesia.
The mine is spread across an extent of 5000 hectares and has rich resources of high grade manganese ore and is estimated that the manganese ore resources in this mine would be around 3 million tons of medium and high grade variety. Detailed geological surveys are being conducted for the purpose of accurate assessment. Estimated production from this mine is around 300,000 tonnes per annum.
The joint venture company is forming a 100% subsidiary in Indonesia to operate the acquired manganese ore mine. Manganese ore would primarily be sold to the group companies for captive usage and surplus material would be marketed across the globe.
Business area of the company includes:
Achievements/ recognition:
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