Bhagwati Autocast Ltd - Stock Valuation and Financial Performance

BSE: 504646 | NSE: | Castings/Forgings | Small Cap

Bhagwati Autocast Share Price

386 -26.30 -6.38%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Bhagwati Autocast

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Bhagwati Autocast stock performance -

mw4me loader
P/E Ratio (SA):
23.35
Market Cap:
118.8 Cr.
52-wk low:
257.9
52-wk high:
675.6

Is Bhagwati Autocast Ltd an attractive stock to invest in?

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 Somewhat 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.

10 Year X-Ray of Bhagwati Autocast:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Bhagwati Autocast Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 19.9%-7.6%4.9%6.6%6.1%14.1%8.4%6.3%-1.4%19%-
Value Creation
Index
0.4-1.5-0.7-0.5-0.60.0-0.4-0.6-1.10.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 81.964.464.470.489.5120101104112154138
Sales YoY Gr.--21.4%-0.1%9.4%27.1%34%-16.2%3.9%7.5%37.6%-
Adj EPS 16.1-92.74.4412.87.36.1-3.426.917.7
YoY Gr.--155.6%NA63.2%-11%223.3%-42.7%-16.7%-155.6%NA-
BVPS (₹) 74.96566.871.874.686.592.798.193.8119.5127.4
Adj Net
Profit
4.7-2.60.81.31.13.72.11.8-17.75
Cash Flow from Ops. 1.532-0.93.93.76.14.57.512-
Debt/CF from Ops. 5.62.22.7-9.922.411.12.50.9-

CAGR

CAGR Colour Code Guide

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
BVPS5.3%9.9%8.8%27.5%
Share Price 25.2% 22.5% 38.6% 45.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
24-12.84.16.45.415.98.26.4-3.525.214.3
Op. Profit
Mgn %
11.60.36.57.44.96.96.351.49.68.9
Net Profit
Mgn %
5.7-41.21.81.33.12.11.7-0.953.7
Debt to
Equity
0.40.40.30.40.40.40.20.20.70.3-
Working Cap
Days
1221561351241271121321331147548
Cash Conv.
Cycle
2346375360526765512718

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.30%

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 not so good in last 4 quarters at 4.24%

Latest Financials - Bhagwati Autocast Ltd.

Standalone Consolidated
TTM EPS (₹) 17.7 -
TTM Sales (₹ Cr.) 138 -
BVPS (₹.) 127.4 -
Reserves (₹ Cr.) 34 -
P/BV 3.24 -
PE 23.35 -
From the Market
52 Week Low / High (₹) 257.90 / 675.60
All Time Low / High (₹) 2.84 / 675.60
Market Cap (₹ Cr.) 119
Equity (₹ Cr.) 2.9
Face Value (₹) 10
Industry PE 33.6

Management X-Ray of Bhagwati Autocast:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Bhagwati Autocast

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales8264647090120101104112154
Operating Expenses 72646065851129499111140
Manufacturing Costs24212126323836373843
Material Costs39332827395944496082
Employee Cost 7789101211121112
Other Costs 2223333223
Operating Profit 90454865215
Operating Profit Margin (%) 11.6%0.3%6.5%7.3%4.8%6.9%6.3%4.9%1.4%9.6%
Other Income 0000000000
Interest 1111111011
Depreciation 2322222223
Exceptional Items 0000000000
Profit Before Tax 7-4121532-111
Tax 2-101011103
Profit After Tax 5-3111422-18
PAT Margin (%) 5.7%-4.0%1.2%1.8%1.2%3.1%2.2%1.6%-0.9%5.0%
Adjusted EPS (₹)16.1-9.02.74.43.912.87.56.0-3.326.8
Dividend Payout Ratio (%)6%-6%26%18%21%8%13%17%-30%7%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 22191921212527282734
Share Capital 3333333333
Reserves 19161618192224252432
Minority Interest0000000000
Debt76588964178
Long Term Debt12100010118
Short Term Debt6548885460
Trade Payables16141310191616191618
Others Liabilities 11674444547
Total Liabilities 56454343525353566468

Fixed Assets

Gross Block33343536373941426262
Accumulated Depreciation13161921222425262830
Net Fixed Assets20181615141516153431
CWIP 0000010100
Investments 0000000000
Inventories6545766666
Trade Receivables21181921293029332126
Cash Equivalents 1001101003
Others Assets8331111131
Total Assets 56454343525353566468

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 232-14465712
PBT 7-4121532-111
Adjustment 1433333335
Changes in Working Capital -77-2-60-3106-2
Tax Paid 2-30-10-1-1-10-1
Cash Flow From Investing Activity -4-1-1-1-2-4-2-2-200
Capex -4-1-1-1-2-4-2-2-200
Net Investments 0000000000
Others 0000000000
Cash Flow From Financing Activity 2-2-12-20-4-212-9
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 2-2-1-1-111-111-1
Interest Paid 000-1-1-1-10-1-1
Dividend Paid 0000000000
Others 000400-3-12-6
Net Cash Flow 00000-10003
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)23.96-12.84.136.45.2615.918.386.25-3.4625.14
ROCE (%)28.81-10.27.2610.948.1819.1712.18.55-1.8826.62
Asset Turnover Ratio1.841.451.651.851.942.271.891.911.862.34
PAT to CFO Conversion(x)0.4N/A2-14132.5N/A1.5
Working Capital Days
Receivable Days721009593100901071088856
Inventory Days23292522231922212015
Payable Days13516617615213610913313210675

Bhagwati Autocast Ltd Stock News

Bhagwati Autocast Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bhagwati Autocast on 28-Mar-2024 16:01 is ₹386.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Bhagwati Autocast stood at ₹118.8.
The latest P/E ratio of Bhagwati Autocast as of 28-Mar-2024 16:01 is 23.35.
The latest P/B ratio of Bhagwati Autocast as of 28-Mar-2024 16:01 is 3.24.
The 52-week high of Bhagwati Autocast is ₹675.6 and the 52-week low is ₹257.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bhagwati Autocast is ₹138.3 ( Cr.) .

About Bhagwati Autocast Ltd

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.

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