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Bhagwati Autocast Ltd. Stock Analysis

Small Cap
Evaluated by 156 users | BSE: 504646 | NSE: |
Castings/Forgings
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...

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 15.13%15.85%5.4%7.1%19.91%-7.56%4.86%6.61%6.14%14.14%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 53.662.95869.281.964.464.470.489.5120
Y-o-Y Gr. Rt.-17.5%-7.8%19.2%18.5%-21.4%-0.1%9.4%27.1%34%
Adjusted EPS (Rs.) 7.58.712.82.8216.14-8.982.724.443.9512.77
Y-o-Y Gr. Rt.-16.1%-67.9%0.7%472.3%-155.6%NA63.2%-11%223.3%
Book Value per Share (Rs.) 45.8653.4255.5459.8274.9164.9666.8471.7574.686.47
Adjusted Net Profit 2.22.50.80.84.7-2.60.81.31.13.7
Net Op. Cash Flow (Rs. Cr.) 71.24.91.41.532-0.93.93.7
Debt to Cash Flow from Ops 1.026.241.384.485.582.242.65-9.941.982.38
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.
Bhagwati Autocast Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 9.4%7.9%23.1%34%
Adjusted EPS 6.1%-4.6%67.5%223.3%
Book Value per Share 7.32.9915.9
Share Price 13.5% 16.4% 6.5% 17.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 17.6217.545.134.8923.96-12.844.136.45.415.85
Operating Profit Margin (%) 9.049.575.685.8211.590.296.527.354.866.93
Net Profit Margin (%) 4.043.991.391.185.68-4.021.221.811.273.07
Debt to Equity 0.540.490.420.360.390.350.280.420.360.35
Working Capital Days 137126143117122156135124127112
Cash Conversion Cycle 43242215234637536052
Entity Percentage Holding
Promoters 71.89%
Institutions 0.01%
Non-Institutions 28.10%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Bhagwati Autocast Ltd.'s performance infers:

Bhagwati Autocast Ltd. earnings have declined by -4.6%, whereas share price has appreciated 16.4% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Bhagwati Autocast Ltd. share prices over the last 10 years. Here is what we found out:

Bhagwati Autocast Ltd. share price has appreciated 9.6% annually over the past ten years.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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