Investment & Precision Castings Ltd - Stock Valuation and Financial Performance

BSE: 504786 | NSE: | Castings/Forgings | Small Cap

Invts & Precisn Cast Share Price

546 -19.30 -3.41%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Invts & Precisn Cast

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

1. Quality

2. Valuation

Fair

3. Price Trend

Investment & Precision Castings stock performance -

mw4me loader
P/E Ratio (SA):
27.30
Market Cap:
273 Cr.
52-wk low:
285
52-wk high:
765

Is Investment & Precision Castings Ltd an attractive stock to invest in?

1. Is Investment & Precision Castings Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Investment & Precision Castings Ltd is a average quality company.

2. Is Investment & Precision Castings Ltd undervalued or overvalued?

The key valuation ratios of Investment & Precision Castings Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Investment & Precision Castings Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Investment & Precision Castings 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 Invts & Precisn Cast:

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.
Investment & Precision Castings 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 % 5.9%6.1%7%8%10.9%11.3%2.9%3.3%3%7.3%-
Value Creation
Index
-0.6-0.6-0.5-0.4-0.2-0.2-0.8-0.8-0.8-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 69.476.784.99210811995.2105132170172
Sales YoY Gr.-10.6%10.7%8.4%16.9%10.3%-19.8%10%26.2%28.8%-
Adj EPS 3.23.65.78.515.619.7-1.50.7-0.610.720
YoY Gr.-14.2%57.7%48.2%84.9%25.9%-107.4%NA-181.1%NA-
BVPS (₹) 93.897.5102.4118.6133.1150146.1146.9146.1157.1170.3
Adj Net
Profit
1.61.82.94.27.89.9-0.70.4-0.35.410
Cash Flow from Ops. 13.38.79.49.915.211.910.416.612.911.8-
Debt/CF from Ops. 2.33.53.43.12.64.85.6455.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.5%9.6%21.4%28.8%
Adj EPS 14.5%-7.2%NANA
BVPS5.9%3.4%2.4%7.5%
Share Price 26.5% 13.4% 45.4% 90.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
3.43.85.77.712.413.9-10.5-0.47.112.2
Op. Profit
Mgn %
16.214.315.416.219.416.912.112.29.912.716.1
Net Profit
Mgn %
2.32.43.44.67.38.3-0.80.4-0.23.25.8
Debt to
Equity
0.70.60.60.50.60.80.80.90.90.8-
Working Cap
Days
225196184205205226297282241215106
Cash Conv.
Cycle
1179486958492117113101811

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 12.20%

Sales growth is growing at healthy rate in last 3 years 21.35%

Debt to equity has declined versus last 3 years average to 0.83

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 8.96%

Latest Financials - Investment & Precision Castings Ltd.

Standalone Consolidated
TTM EPS (₹) 20 20
TTM Sales (₹ Cr.) 172 172
BVPS (₹.) 170.3 170
Reserves (₹ Cr.) 80 80
P/BV 3.21 3.21
PE 27.30 27.34
From the Market
52 Week Low / High (₹) 285.00 / 765.00
All Time Low / High (₹) 0.69 / 765.00
Market Cap (₹ Cr.) 273
Equity (₹ Cr.) 5
Face Value (₹) 10
Industry PE 33.9

Management X-Ray of Invts & Precisn Cast:

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 Invts & Precisn Cast

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
Sales6977859210811995105132170
Operating Expenses 5866727787998492119148
Manufacturing Costs38455256648160656884
Material Costs8968729143646
Employee Cost 7678887667
Other Costs 66667778811
Operating Profit 11111315212011131322
Operating Profit Margin (%) 16.2%14.1%15.4%16.2%19.4%16.9%12.1%12.2%9.9%12.7%
Other Income 0100011010
Interest 4444457667
Depreciation 5455567777
Exceptional Items 0000000000
Profit Before Tax 23461210-1108
Tax 1122400002
Profit After Tax 2234810-1006
PAT Margin (%) 2.3%2.8%3.4%4.6%7.4%8.4%-0.7%0.5%0.1%3.3%
Adjusted EPS (₹)3.24.35.78.416.020.0-1.31.00.411.1
Dividend Payout Ratio (%)16%12%12%15%16%10%-7%131%70%9%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 47495159677573737379
Share Capital 5555555555
Reserves 42444654627068686874
Minority Interest0000000000
Debt28282928375355595656
Long Term Debt5666121716262417
Short Term Debt23232321263639333240
Trade Payables107119141818242838
Others Liabilities 981010201716222628
Total Liabilities 9393101106138164162179182201

Fixed Assets

Gross Block74798698115136146160167172
Accumulated Depreciation34384347525865717783
Net Fixed Assets40414451637881899089
CWIP 5552563300
Investments 0000011000
Inventories16141617203232323848
Trade Receivables18182018222018282836
Cash Equivalents 2111100121
Others Assets13131517262627252326
Total Assets 9393101106138164162179182201

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 139910151210171312
PBT 23461210-1108
Adjustment 988891012121213
Changes in Working Capital 3-1-2-3-2-6041-7
Tax Paid -1-1-1-2-3-2-10-1-2
Cash Flow From Investing Activity -5-6-7-5-20-22-6-14-4-6
Capex -5-6-7-5-20-23-6-14-4-7
Net Investments 0000000000
Others 0000000000
Cash Flow From Financing Activity -8-3-3-5510-5-2-9-6
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -3100000000
Interest Paid -4-4-4-3-4-4-6-6-6-6
Dividend Paid 0000-1-1-10-10
Others -100-191624-30
Net Cash Flow 00-1000010-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.484.55.737.6212.6814.09-0.910.650.247.34
ROCE (%)8.479.2910.5211.7216.4612.384.174.854.8210.49
Asset Turnover Ratio0.830.920.990.890.880.790.580.610.730.89
PAT to CFO Conversion(x)6.54.532.51.881.2N/AINFINF2
Working Capital Days
Receivable Days90777375686673807869
Inventory Days7662586764811221129893
Payable Days3493535384965633,055722556259261

Investment & Precision Castings Ltd Stock News

Investment & Precision Castings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Invts & Precisn Cast on 28-Mar-2024 16:01 is ₹546.0.
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 Invts & Precisn Cast stood at ₹273.0.
The latest P/E ratio of Invts & Precisn Cast as of 28-Mar-2024 16:01 is 27.30.
The latest P/B ratio of Invts & Precisn Cast as of 28-Mar-2024 16:01 is 3.21.
The 52-week high of Invts & Precisn Cast is ₹765.0 and the 52-week low is ₹285.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Invts & Precisn Cast is ₹172.2 ( Cr.) .

About Investment & Precision Castings Ltd

Investment & Precision Castings Ltd.(IPCL) was the first investment casting foundry in Gujarat formed way back in 1975. There was then only one other small investment casting foundry in the entire country. As a pioneer, IPCL had to struggle a lot to impart customer awareness and create a market for investment castings in India. This process was then unknown to the Indian market. A lot of application engineering efforts were involved in educating industries in India to switch over to investment castings from the traditional forging, sand castings and shell moulded castings.

IPCL is a fully equipped investment casting foundry with conventional machining facilities and state-of-the-art CNC Machine Shop. It supplies fully machined ready to use parts to automotive and other customers.

The company entered into a technical collaboration with Arwood International, USA in June 1975. After its expiry in April 1983, It signed a technical collaboration agreement with Furstlich Hohenzollernsche Huttenverwaltung, (Zollern Group), Germany, who was well known in Europe for Investment Castings. It then signed a technical licence agreement with Associated Foundries Engineering Co Ltd, Japan in December 1987, relating to producing large piece weight investment castings.

With the knowledge and experience gained through the above collaborations, and reinforced by in-house research & development, IPCL is today a technology leader in the industry, handling the widest range of material specifications and piece weights.

Product range of the company includes:

  • Automobile- IPCL caters to top automotive manufacturers in India and abroad. It is the pioneers in manufacturing investment castings in India.
  • Industrial Pumps- IPCL supplies complex and difficult parts to the pumps industry. 
  • Electrical & Instrumentation - IPCL supplies ferrous & non-ferrous investment castings to the electrical and instrumentation industry segment.
  • General Engineering- IPCL also supplies fully finished, machined and treated parts for different segments.

Milestones

  • 2009: Acquired additional 13,038 sq. metres lands for plant expansion
  • 2008: certification under ISO-14001: 2004 & OHSAS - 18001: 2007 from TUV NORD
  • 2007: Re-Certification under ISO/TS 16949 and ISO-9000 from TUV NORD
  • 2006: Acquired additional 20,000 Sq. Mt. lands for plant expansion
  • 2005: Established wind power plant, at Lamba, Dist. Jamnagar
  •  Established state of the art CNC machine shop
  •  Participation in Automotive Engineering Exposition Japan
  • 2004: Re-Certification under ISO/TS 16949 and ISO-9000 from RWTUV
  •   Established Tamboli Castings Ltd. A fully owned subsidiary as a 100% Export Oriented Unit
  •   Strategic alliance with an european foundry
  • 2003: Strategic alliance with a US foundry
  • 2002: Produced first component for BEHR India  100 Kg Piece Weight Castings developed for the first time
  • 2001: 1st time participation in Midest Fair, Paris  
  • • Certification under ISO/TS 16949 
  • • Developed Injected Ceramic Core Technology  
  • • Developed Ceramic Block Mould Process  
  • • 50 Kg Piece Weight Castings developed for the first time  
  • • Export of over Rs  60 million
  • 2000: Strategic alliance with an European foundry
  • 1999: Export of over Rs 30 million
  • 1998: Recertificationfrom under ISO- 9000 RWTUV
  • 1995: Certification under ISO-9002 from RWTUV 
  • • 1st time participation in Hannover Fair, Germany

Achievements/ recognition:

  • The company has the following Quality Systems Certification from RWTUV, Germany: ISO/TS 16949 : 2002 & ISO 9001 : 2000
  • IPCL is a ‘Self-Certified Vendor’ to Maruti Udyog Ltd., a joint venture Company of Suzuki  Motors Co., Japan
  • The company is a recognised Export House by Foreign Trade department.
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