Elpro International Ltd Stock Analysis

BSE: 504000 | NSE: ELPROINTL | Construction - Real Estate | Small Cap

BSE Share Price 05-Dec-2022 18:01
73.10 0.40 (0.55%)

DeciZen - Make an Informed Decision on Elpro International

Overall Rating

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Semi Strong

Elpro International Price Chart

P/E Ratio (SA) :
1.22
Market Cap :
1,238.9 Cr.
52-wk low :
53.3
52-wk high :
86.3
Bole Toh?

1. Is Elpro International Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Elpro International Ltd is a below average quality company.

2. Is Elpro International Ltd undervalued or overvalued?

The key valuation ratios of Elpro International Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Elpro International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Elpro International Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Elpro International:

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.
Elpro International Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 6.3%2.2%4%3.4%4.8%7.5%3.6%5.9%5.4%26.9%-
Value Creation Index -0.6-0.8-0.7-0.8-0.7-0.5-0.7-0.6-0.60.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3428.536.744.852.961.141.211063.272.491
YoY Gr. Rt. %--16.2%28.8%22.3%18%15.5%-32.6%166.7%-42.5%14.7%-
Adj EPS 0.3-0.3-0.1-0.2-0.40.3-0.20.30.412.960
YoY Gr. Rt. %--189.7%NANANANA-180%NA46.4%3039%-
BVPS (₹) 10.29.99.89.59.110.313.412.613.572.474.2
Adj Net Profit 4.4-3.9-2-3.6-5.64.2-44.772181,018
Cash Flow from Ops. -82.411.98.726.834.157.5-76.32515.7-162-
Debt/CF from Ops. -1.18.913.95.55.84.5-2.29.214-0.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.8%6.5%20.7%14.7%
Adj EPS 52.4%NANA3039%
BVPS 24.451.375.5434.9
Share Price 23.1% 8.5% 17.6% 6.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 3.9-2.5-1.3-2.4-3.93-2.22.23.129.882
Op. Profit Mgn % 44.337.543.734.146.562.315.53148.14839.9
Net Profit Mgn % 13.1-13.8-5.5-8-10.66.8-9.74.311.1301.21121
Debt to Equity 0.60.70.811.41.80.71.110.10
Working Cap Days 5026655545625404737302393463111,270
Cash Conv. Cycle 21730624416445-707-6-155-118953

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 82.00%

Sales growth is growing at healthy rate in last 3 years 20.70%

Sales growth is good in last 4 quarters at 39.21%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Elpro International Ltd.

Standalone Consolidated
TTM EPS (₹) 60 64.7
TTM Sales (₹ Cr.) 90.8 90.8
BVPS (₹.) 74.2 74.4
Reserves (₹ Cr.) 1,240 1,243
P/BV 0.99 0.98
PE 1.22 1.13
From the Market
52 Week Low / High (₹) 53.25 / 86.25
All Time Low / High (₹) 0.49 / 86.25
Market Cap (₹ Cr.) 1,239
Equity (₹ Cr.) 17
Face Value (₹) 1
Industry PE 41.6

Management X-Ray of Elpro International :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *26.0025.5825.5725.5725.5725.5725.570.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Elpro International

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Elpro International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Elpro International on 05-Dec-2022 18:01 is : 73.10.
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 05-Dec-2022 18:01 the market cap of Elpro International stood at ₹ 1,238.9.
The latest PE ratio of Elpro International as of 05-Dec-2022 18:01 is 1.22.
The latest PB ratio of Elpro International as of 05-Dec-2022 18:01 is 0.99
The 52-week high of Elpro International is ₹ 86.25 and the 52-week low is ₹ 53.25.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Elpro International is ₹ 90.78 ( Cr.) .

About Elpro International Ltd

Elpro International Limited was incorporated in July 1962 as a public limited company, in technical and financial collaboration with General Electric, USA. The company is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world.

The product portfolio of the company includes, surge arresters, distribution class arresters, station class arrestors, secondary surge arresters, under oil surge arrestors, accessories, zinc oxide discs and varistors.

The company’s corporate headquarters are located in Pune, 170 km from India’s financial capital Mumbai, and its multi-manufacturing facilities are based out of Pune and Hyderabad.

Elpro International Ltd. is India's largest and among the leading companies in South Asia in the design, manufacture and supply of distribution, intermediate and station class Metal Oxide Surge Arresters with technology from GE, USA. In tune with changing times and technology, Elpro's products were first upgraded from 2H type Intermediate Arresters to Active- Gap technology and, a few years later, again upgraded to Metal Oxide Arresters, alternatively known as Gapless. Besides technical advantages, Gapless Arresters provide significant cost savings in insulation compared to similar traditional Gap-type Arresters.

An ISO 9001-2000 company, Elpro International is the number one manufacturer of surge arresters in Asia manufactured with technical know how from GE USA. It is the only manufacturer outside the United States manufacturing Surge Arresters and Zinc Oxide Discs with GE technology  acknowledged to be the best in the world.

Elpro’s constant adherence to excellence in quality and expertise in marketing has ensured a reliable brand image and a dominant market share in each of its product lines in India. It is the first company to introduce & produce Surge Arresters as well as Metal Oxide Gapless Surge Arresters in India. Elpro won the ELCINA award in the Research & Development category in 1987and its products have been successfully type tested in renowned laboratories like CESI - Italy, KEMA - Netherlands and CPRI  India. Elpro International is the only manufacturer outside the US that meets IEC as well as ANSI standards.

Elpro International set up a metal oxide varistor manufacturing plant in its Pune facility in 1986 with technical expertise from GE. To enhance its capabilities further, Elpro acquired a Disconnecting Switch (Isolators) manufacturing company in 1994, Switchgear Manufacturing Company, which was set up in Hyderabad via a technical collaboration with ALPHA Switzerland.

Today, Elpro has a presence in international markets including USA, Mexico, Brazil, Columbia, Peru, Italy, France, Turkey, Russia, Ghana, Nigeria, Kenya, Iran, Iraq, Saudi Arabia, Bangladesh, Bhutan, Thailand, Philippines, Vietnam, Taiwan, Korea.

As part of its corporate vision to emerge as the leader in surge arresters, Elpro International acquired the Zinc Oxide Disc (active elements of surge arresters) manufacturing line from Harris, Ireland in 2001 and the same was installed in the company’s Pune facilities in the year 2002.

Harris and Elpro, both use GE’s technical expertise. As a result, the two companies share great synergy, which has translated in speedy absorption of technology and processes. At full operation the plant has an annual capacity to process 300 tonnes of Zinc Oxide Powder. With this new facility, Elpro has a combined annual capacity to produce 450 tonnes of Zinc Oxide Discs, making the Company the leading manufacturer and supplier of Zinc Oxide Discs in Asia.

Elpro continues to be on the fast track to growth with a strong focus on developing niche products and strategic acquisitions in existing, or new-product areas, with potential for global marketing. Some of Elpro’s national clients include ABB India; Bharat Heavy Electricals Limited (BHEL); National Thermal Power Corporation of India (NTPC); Reliance Industries; Siemens India; Tata Power Company and international clients include GE USA; KWPA Iran; Saudi Electric Company and Taiwan Power Company.

Awards/ Achievements

The company received the ‘ELCINA’ award for excellence in the development of high quality electronic components.

One of the few manufacturers, globally, whose Surge Arresters comply to both IEC and ANSI standards.

Recent developments

Elpro International's board at its meeting held on April 20, 2009, has converted the 35000 Convertible warrants of Mavi Investment Fund into 35000 numbers of Equity Shares of Rs 10 each at a premium of Rs 601 and shall rank pari passu to the existing shares of the company.

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