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Eon Electric Ltd. Stock Analysis

Small Cap
Evaluated by 342 users | BSE: 532658 | NSE: EON |
Cable
From an enterprise formed on August 8,1958 by a young group of technocrats, Indo Asian has grown into a multi-product, group of companies, manufacturing and marketing a wide range of electrical control and protection equipment.Indo Asian Fusegear Ltd is a leading manufacturer of LT Electrical...

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'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 3.61%-2.73%-5.71%-8.28%-11.7%-8.69%-0.59%3.66%3.06%-10.68%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 23012156.215613712917518115877.3
Y-o-Y Gr. Rt.--47.6%-53.4%178.1%-12.4%-5.5%35.2%3.6%-12.8%-51%
Adjusted EPS (Rs.) -2.43-8.24-12.96-15.02-16.62-13.39-4.680.24-0.93-16.09
Y-o-Y Gr. Rt.-NANANANANANANA-487.5%NA
Book Value per Share (Rs.) 74.48216.57214.67100.9785.572.7370.2273.8673.8159.73
Adjusted Net Profit -3.9-14-20.8-24.1-26.7-21.5-7.50.4-1.6-27.2
Net Op. Cash Flow (Rs. Cr.) 5.5-90-40.6-60-8.7-23.6-14.1-16.1-18.31.2
Debt to Cash Flow from Ops 22.400-0.56-6.45-2.77-4.79-4.7-5.3142.59
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.
Eon Electric Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -11.4%-10.8%-23.8%-51%
Adjusted EPS NANANANA
Book Value per Share -2.4-6.9-5.3-19.1
Share Price -22.6% -29.3% -57.7% -59.9%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) -3.31-5.69-5.83-9.52-17.82-16.92-6.540.33-1.29-24.1
Operating Profit Margin (%) 7.69-42.67-39.74-14.47-15.59-14.15-0.54.15.87-25.53
Net Profit Margin (%) -1.7-11.58-37.06-15.45-19.51-16.64-4.30.21-1-35.18
Debt to Equity 1.01000.210.410.560.60.640.780.51
Working Capital Days 342388271155213231209254368763
Cash Conversion Cycle 209204176110157161136151232548
Entity Percentage Holding
Promoters 61.75%
Non-Institutions 38.25%
Pledged *30.6439.2639.2638.6239.2639.2639.2639.2639.2639.26
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Eon Electric's performance infers:

Eon Electric earnings have grown by 0%, whereas share price has depreciated -29.3% 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 Eon Electric share prices over the last 10 years. Here is what we found out:

Eon Electric share price has depreciated -25.8% annually over the past ten years.

From an enterprise formed on August 8,1958 by a young group of technocrats, Indo Asian has grown into a multi-product, group of companies, manufacturing and marketing a wide range of electrical control and protection equipment.

Indo Asian Fusegear Ltd is a leading manufacturer of LT Electrical Switchgear Equipment producing a wide range of Electrical Circuit Protection Equipment including Distribution Boards, Switch Boards, Switch Panels, Fuse Switches, MCCBs, HRC Fuses, MCBs, RCDs, etc.

From an enterprise formed on August 8,1958 by a young group of technocrats, Indo Asian has grown into a multi-product, group of companies, manufacturing and marketing a wide range of electrical control and protection equipment.

Indo Asian Fusegear Ltd is a leading manufacturer of LT Electrical Switchgear Equipment producing a wide range of Electrical Circuit Protection Equipment including Distribution Boards, Switch Boards, Switch Panels, Fuse Switches, MCCBs, HRC Fuses, MCBs, RCDs, etc. Indo Asian Fusegear Ltd. also specializes in the manufacture of energy efficient CFLs, Fluorescent Tube Lights and Electronic Ballasts.

It has also included wires in its product portfolio. The company through its joint venture is in the process of setting up state-of-the-art new facilities at Haridwar, Uttarakhand for manufacture of wiring accessories and building and home automation equipment. Indo Asian’s contribution to the national electrical industry is well-recognized.

The company’s manufacturing units are spread over northern part of the country – two in Noida (UP) near Delhi, one each at Parwanoo (HP), Jalandhar (Punjab) and Murthal (Sonepat). The company has also set up three large state-of-the-art plants, one for the manufacture of switchgear, other for lighting products and third for manufacture of wires at SIDCUL, Haridwar, the tax free zone of Uttrakhand.

The company has collaborated with Saudi National Glass for setting up a plant in Saudi Arabia for manufacturing of CFL HID Lamps. The company has an all-India marketing network with 30 offices across India and network of over 550 authorized distributors and over 15,000 Electrical Retail outlets spread all over India and overseas.

Indo Asian has been on the approved list of most of the utilities in Middle East and Africa where it is exporting its products for the last 30 years Incorporated in 1958 as a small-scale unit in Jalandhar in Punjab, the Indo Asian group has come a long way to not just carve a niche for itself in the Indian electrical equipment industry, but to emerge as a reliable global supplier of world-class Circuit Breakers and Lighting products. The Group’s flagship company, Indo Asian Fusegear Limited has gained reputation as an innovative Electrical Equipment and Systems Designing and Manufacturing Company.

Indo Asian has grown into a multi-product, group of companies, manufacturing and marketing a wide range of electrical control and protection equipment. The superior quality of these products has earned them the respect of the Indian market and the world over where they are popular under the brand names: Indo Kopp MCBs, Stopshock RCCBs, Indo Asian HRC Fuselinks, Indo Asian Industrial Plugs & Sockets and Contactors & Relays.

Considerable importance is attached to research and development at Indo Asian. Every process and product is supported by our well-equipped, modern Research & Development Centre where a dedicated team of experts apply themselves to developing the latest, innovative product designs and process technology. Their endeavours have consistently improved product performance and functionality, keeping in mind that customers' needs are constantly changing.

Domestic Products:-

Gold plus

  • MCBs
  • HRMCBs
  • RCCBs
  • DBs   

Goldline

  • Goldline MCBs
  •  Goldline RCCBs
  • Goldline DBs
  • Silverline
  •  Silverline MCBs    

Industrial Products

  • ACBs
  • MCCBs
  • Changeover Switches
  • Switch Disconnector Fuses 
  • HRC Fuses & Fuse Bases
  • Rewirable Switches
  • Feeder Pillars
  •  MPCBs
  • Contactors
  • Time Switches
  • Thermal Overload Relays

Lighting Products

  • CFLs
  • FTLs 
  • Energy Meter
  • Wires and Cables
  • Modular Wiring

Milestones:

  • 1958 Started operations with LT Switchgear
  • 1968 Technical Collaboration with Wickmann Werke, Germany for HRC fuses
  • 1978 Introduce DIN MCBs in India, Kopp Collaboration
  • 1984 Introduce RCCBs in India, HQ moved to Delhi
  • 1992 Introduce 10kA MCB, Indo Asian gets listed on Bombay Stock Exchange
  • 1995 Major export contract for Feeder Pillars to Siemens, Dubai for DEWA
  • 1997 Launching first fully Indian made CFL
  • 2002 Set up Parwanoo Unit
  • 2003 Hausmann Wiring Accessories launched
  • 2004 Indo Asian appointed Sole distributor; Lovato, Uttaranchal project begins
  • 2005 JV with Nordex for lighting in India
  • 2006 JV in Saudi Arabia initiated (MCBs, CFLs), 3 major plants come on-stream, Listing on NSE

Achievements/ recognition:

  • Bureau Vetitas Certification.
  • Indo Asian has been awarded “Emerging India Award 2007” in the Engineering and Auto Ancillary Segment in a glittering ceremony on June 22, 2007 at Mumbai.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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