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OCL India Ltd. - (Amalgamated) Stock Analysis

Mid Cap
Evaluated by 428 users | BSE: 502165 | NSE: OCL |
Cement & Construction Materials
OCL India Limited, (formerly ORISSA CEMENT LIMITED), widely known as OCL, was incorporated as Public Limited Company on October 11,1949 under the Companies Act, 1913 and obtained certificate of commencement of business on February 10,1950. Initially it was set up for manufacturing cement....

Analysis of Financial Track Record

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.
Value Creation
 Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Capital Employed 13.8%12.45%12.8%9.48%5.13%12.18%7.96%7.63%10.87%13.53%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 7661,1191,3741,4851,4701,8171,8412,2202,6652,912
Y-o-Y Gr. Rt.-46.1%22.8%8.1%-1%23.6%1.3%20.6%20%9.3%
Adjusted EPS (Rs.) 19.5121.827.4820.135.9627.6117.3719.7437.7562.83
Y-o-Y Gr. Rt.-11.7%26.1%-26.8%-70.4%363.3%-37.1%13.6%91.2%66.4%
Book Value per Share (Rs.) 97.2115.85139.95155.43158.7182.54195.06210.23346.46413.95
Adjusted Net Profit 11112415611533.915798.9112215357
Net Op. Cash Flow (Rs. Cr.) 235233394209206336386442644368
Debt to Cash Flow from Ops 2.123.072.094.073.542.371.912.991.863.14
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
OCL India Ltd. - (Amalgamated) should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 16%14.6%16.5%9.3%
Adjusted EPS 13.9%60.2%53.5%66.4%
Book Value per Share 17.521.128.519.5
Share Price 28.8% 12% -9.6% -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Equity (%) 24.1120.4721.4813.633.7916.189.29.7413.5616.52
Operating Profit Margin (%) 26.0624.3828.0321.2114.3922.9816.2616.9720.5223.18
Net Profit Margin (%) 14.511.0911.387.712.38.645.375.068.0612.28
Debt to Equity 0.91.081.040.960.810.770.661.10.610.49
Working Capital Days 1299990941101061211038490
Cash Conversion Cycle 171017345247483111-2
Entity Percentage Holding
Promoters 74.89%
Institutions 2.84%
Non-Institutions 22.28%
Pledged *68.1068.1068.1068.1068.1068.1068.1068.1068.1068.10
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of OCL India-(Amalgamat's performance infers:

OCL India-(Amalgamat earnings have grown by 60.2%, whereas share price has appreciated 12% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of OCL India-(Amalgamat share prices over the last 10 years. Here is what we found out:

OCL India-(Amalgamat share price has appreciated 20.7% annually over the past ten years.

OCL India Limited, (formerly ORISSA CEMENT LIMITED), widely known as OCL, was incorporated as Public Limited Company on October 11,1949 under the Companies Act, 1913 and obtained certificate of commencement of business on February 10,1950. Initially it was set up for manufacturing cement. Later on, under a major diversification progarmme, it entered the field of refractory manufacturing in the year 1954.

OCL India started producing cement through wet process technology under the brand name

OCL India Limited, (formerly ORISSA CEMENT LIMITED), widely known as OCL, was incorporated as Public Limited Company on October 11,1949 under the Companies Act, 1913 and obtained certificate of commencement of business on February 10,1950. Initially it was set up for manufacturing cement. Later on, under a major diversification progarmme, it entered the field of refractory manufacturing in the year 1954.

OCL India started producing cement through wet process technology under the brand name of ‘Konark’. Keeping a steady progress with time and technology it has modernized to fully automate dry process plant in 1988. OCL commands the position of market leadership in the state of Orissa since its inception and today it is the premier lead brand in the state of Orissa. ‘Konark' brand cement enjoys brand advantage in the region. It is a name cemented to Quality.  OCL diversified from Cement to the field of Refractories in 1954. Over the years, it has become one of the largest and well-equipped state of the art Refractory plant in India covering a wide range of products for use in the Ferrous & the non-ferrous Industries. Its customer base spreads from iron and steel to cement, aluminum, glass, copper, chemicals and hydrocarbon industries. Today, OCL enjoys a huge market share in India and overseas extending to five continents across the globe.   During the year 2001-02 OCL diversified its activities into Sponge Iron and now forayed further into Steel making. In line with this vision, the Company has already installed a Captive Power plant and is going to commission 0.25 million tons steel billet plant.  OCL, as per scheme of arrangement approved by the honourable High Court of Orissa demerged its Steel undertaking and Real Estate undertaking by transferring the assets and liabilities as on 1st January 2007 into OCL Iron and Steel and Landmark Property Development Company (formerly Konark Minerals) respectively. The scheme of arrangement also involved merger of the business of Dalmia Cement (Meghalaya) Limited, a wholly owned subsidiary of Dalmia Cement (Bharat) Ltd, as on 1st July 2007 with the approval of the honourable Court of Guwahati.

The initial technical know how came from Dr.C.Otto of Germany for Coke Oven Silica bricks and from TYK Corporation of Japan for Magnesia-Carbon, Alumina-Mag-Carbon, Alumina-Silicon Carbide-Carbon, Concast Refractories, Lance-pipe, Precast, Purging Plug, & BF Runner castables. All the other products were developed in-house. To keep pace with ever-growing expectation of customers for quality Refractories, our highly experienced & well-equipped technology & research teams upgrade these on a continuous basis. With intensive R&D efforts, OCL has registered a number of patents to its credit.  

Product range of the company includes:Cement

  • Portland Cement
  • 43 Grade (IS:8112-1989)
  • 53 Grade (IS:12269-1987)
  • 53 S Grade (Railway Sleeper Cement, IS:12269-1987)

Blended Cement

  • Portland Slag Cement (IS:455-1989)
  • Portland Pozzolana Cement (Fly ash based, IS:1489(Part 1)1991)
  • Special Cement
  • Sulphate Resisting Portland Cement (IS:12330-1988)
  • Oil Well Cement (Class G type HSR/MSR, IS:8229-1986)

Refactory Over the years, OCL has grown into one of the largest refractory plants in the country, producing widest spectrum of high quality refractories in the following categories :Silica Refractories for coke Ovens, High Temperature Blast Furnace Stoves and Glass Industries.

  • High Alumina Refractories for blast Furnace Stoves
  • Basic Refractories
  • Magnesia Carbon bricks
  • Continuous Casting Refractories
  • New generation high performance Castables and Precast Blocks for various application
  • Purging Refractories

Achievements/ Recognition

  • OCL happens to be the first Refractory Company in India to be certified under ISO 9001, by RWTUV of Germany in 1994, now updated to 2000 version for all range of its products.
  • OCL received third prize in Air Quality Management in 7th Mines Enviornment and Mineral Conservation Week 2004-05.
  • OCL is ISO 9001:2000, EN ISO 9001:2000 by TUV CERT certification body.
  • The company was awarded the certificate of merit for their export achievement in refectories for the year 2003-04.
  • Company received first position in the Productivity Award for 2003-04 organised by Confederation of Indian Industry.
  • OCL India commissioned its Clinker Manufacturing Unit (Line - 2) at Rajgangpur, District, Sundergarh, Orissa on Mar.27, 2009.
  • 2010 - OCL India Ltd obtained Certification for Environment Management System as per IS/ISO 14001:2004 and Occupational Health and safety Management System as per IS/ISO 18001:2007 from BIS
    -OCL India Ltd obtained ISO 9001-2008 Certification
  • 2013 -OCL India Ltd won ICC Environment Excellence Award - 2013
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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