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BSE: 504646 | NSE: | Castings/Forgings | Small Cap
1. Is Bhagwati Autocast Ltd a good quality company?
Past 10 year's financial track record analysis by Moneyworks4me indicates that Bhagwati Autocast Ltd is a average quality company.
2. Is Bhagwati Autocast Ltd undervalued or overvalued?
The key valuation ratios of Bhagwati Autocast Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
3. Is Bhagwati Autocast Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bhagwati Autocast 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.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | 19.9% | -7.6% | 4.9% | 6.6% | 6.1% | 14.1% | 8.4% | 6.3% | -1.4% | 19% | - | ||
| Value Creation Index ⓘ | 0.4 | -1.5 | -0.7 | -0.5 | -0.6 | 0.0 | -0.4 | -0.6 | -1.1 | 0.4 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 81.9 | 64.4 | 64.4 | 70.4 | 89.5 | 120 | 101 | 104 | 112 | 154 | 146 | ||
| YoY Gr. Rt. % | - | -21.4% | -0.1% | 9.4% | 27.1% | 34% | -16.2% | 3.9% | 7.5% | 37.6% | - | ||
| Adj EPS ⓘ | 16.1 | -9 | 2.7 | 4.4 | 4 | 12.8 | 7.3 | 6.1 | -3.4 | 26.9 | 25.9 | ||
| YoY Gr. Rt. % | - | -155.6% | NA | 63.2% | -11% | 223.3% | -42.7% | -16.7% | -155.6% | NA | - | ||
| BVPS (₹) ⓘ | 74.9 | 65 | 66.8 | 71.8 | 74.6 | 86.5 | 92.7 | 98.1 | 93.8 | 119.5 | 126.6 | ||
| Adj Net Profit ⓘ | 4.7 | -2.6 | 0.8 | 1.3 | 1.1 | 3.7 | 2.1 | 1.8 | -1 | 7.7 | 7 | ||
| Cash Flow from Ops. ⓘ | 1.5 | 3 | 2 | -0.9 | 3.9 | 3.7 | 6.1 | 4.5 | 7.5 | 12 | - | ||
| Debt/CF from Ops. ⓘ | 5.6 | 2.2 | 2.7 | -9.9 | 2 | 2.4 | 1 | 1.1 | 2.5 | 0.9 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 7.3% | 11.5% | 15.4% | 37.6% | ||||||||
| Adj EPS ⓘ | 5.8% | 46.7% | 54.2% | NA | ||||||||
| BVPSⓘ | 5.3% | 9.9% | 8.8% | 27.5% | ||||||||
| Share Price | 34.1% | 36.2% | 75.2% | 163.8% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | 24 | -12.8 | 4.1 | 6.4 | 5.4 | 15.9 | 8.2 | 6.4 | -3.5 | 25.2 | 21.1 | |
| Op. Profit Mgn % ⓘ | 11.6 | 0.3 | 6.5 | 7.4 | 4.9 | 6.9 | 6.3 | 5 | 1.4 | 9.6 | 9.8 | |
| Net Profit Mgn % ⓘ | 5.7 | -4 | 1.2 | 1.8 | 1.3 | 3.1 | 2.1 | 1.7 | -0.9 | 5 | 5.1 | |
| Debt to Equity ⓘ | 0.4 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | 0.2 | 0.2 | 0.7 | 0.3 | - | |
| Working Cap Days ⓘ | 122 | 156 | 135 | 124 | 127 | 112 | 132 | 133 | 114 | 75 | 0 | |
| Cash Conv. Cycle ⓘ | 23 | 46 | 37 | 53 | 60 | 52 | 67 | 65 | 51 | 27 | 0 | |
Return on Equity has increased versus last 3 years average to 21.10%
Sales growth is growing at healthy rate in last 3 years 15.38%
Net Profit is growing at healthy rate in last 3 years 54.22%
Sales growth is good in last 4 quarters at 24.56%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 25.9 | - |
| TTM Sales (₹ Cr.) | 146 | - |
| BVPS (₹.) ⓘ | 126.6 | - |
| Reserves (₹ Cr.) ⓘ | 34 | - |
| P/BV ⓘ | 4.05 | - |
| PE ⓘ | 19.81 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 201.00 / 518.10 |
| All Time Low / High (₹) | 2.84 / 488.80 |
| Market Cap (₹ Cr.) | 148 |
| Equity (₹ Cr.) | 2.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 29.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Bhagwati Autocast, promoted in 1984, is located 25 km away from Ahmedabad, near village Bavla. It is a mechanized machine moulding unit with an annual capacity of 14000 tonnes, producing high duty grey iron and ductile iron castings as per any International Standards.
Bhagwati Autocast also produces SG iron castings and alloy iron castings. The company’s plant is located at village Rajoda in Gujarat.
Its hand moulding division has an annual production capacity of 4000 tonnes with facilities for manufacturing castings upto a single unit weight of 5 tonnes using a state of the art Omega continuous mixer.
The Bhagwati Group, has two foundry units -- Bhagwati Spherocast Pvt. Ltd. and Bhagwati Autocast Ltd. Bhagwati Autocast Ltd, is located 25 km away from Ahmedabad, near village Bavla. It is a mechanized machine moulding unit with an annual capacity of 14000 tons, producing high duty grey iron and ductile iron castings as per any International Standards. Its handmoulding division has an annual production capacity of 4000 tons with facilities for manufacturing castings upto a single unit weight of 5 tons using a state of the art Omega continuous mixer.
Both the units are manufacturing high quality castings for a wide spectrum of industries such as, Automotive, Light and Heavy Commercial Vehicle, Tractor, Air & Gas Compressor, Hydraulic ,Wind Generation/Generator, Refrigeration, Plastic Injection Moulding Machine and General Engineering Products The annual turnover of the two foundry units together is $ 30 million with a total production capacity of 32000 tons per year of which Bhagwati Autocast Production Capacity stands at 18000 M.T. Per Annum.
The infrastructure of the company includes DISA-George Fischer fully mechanized sand plant of 30 tons/hour capacity, Intensive mixer-1000 Kgs. batch capacity. Sand homogenizing and cooling system and dust collector system.
The company’s major customers are two tractor companies, Punjab Tractors and Escorts. Its hand molding plant caters to the needs of the general engineering sector. The field is competitive and pricing does not allow much flexibility. Rise in prices of raw materials, increased power costs and higher wages were reported to have affected the profitability of the company.
The company’s response has been an expansion-cum-modernization program involving installation of equipment for better material handling and higher productivity. Finish of the castings was also sought to be improved by installing a drum homogenizer cum cooler. The company was able to return to profits from the year 2004-2005.
The major customers of the company are Dresser Rand, Elecon Engineering, Enercon, Escorts Ltd.,Force Motors Ltd.Godrej & Boyce Ltd., Harig India Pvt. Ltd., Mita Harig Pvt. Ltd., HMT Ltd., Ingersoll-Rand (India) Ltd., Kirloskar Oil Engines Limited K&H Eppensteinar Gmbh & Co., Mahindra gujarat tractors Ltd., Punjab tractors Ltd.
It is also an ISO-9001-2000 company certified by BUREAU VERITAS.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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