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Elpro International Ltd Stock Analysis

Small Cap
Evaluated by 172 users | BSE: 504000 | NSE: ELPROINTL |
Construction - Real Estate

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'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Capital Employed 4.02%3.67%6.28%2.24%3.96%3.39%4.82%7.5%3.59%5.94%5.38%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 34.631.53428.536.744.852.961.141.211063.267
Y-o-Y Gr. Rt.--9.1%8.1%-16.2%28.8%22.3%18%15.5%-32.6%166.7%-42.5%-
Adjusted EPS (Rs.) 0.25-0.170.29-0.26-0.13-0.24-0.370.3-0.240.280.410.71
Y-o-Y Gr. Rt.--168%NA-189.7%NANANANA-180%NA46.4%-
Book Value per Share (Rs.) 4.854.7110.189.929.779.539.1210.2613.3812.5613.5314.43
Adjusted Net Profit 3.8-2.64.4-3.9-2-3.6-5.64.2-44.7712
Net Op. Cash Flow (Rs. Cr.) -71.2136-82.411.98.726.834.157.5-76.32515.7-
Debt to Cash Flow from Ops -1.040.45-1.078.8613.925.475.794.46-2.169.2214.02-
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.
Elpro International Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  10 yrs 5 yrs 3 yrs 1 yr
Net Sales 8.1%7.1%1.1%-42.5%
Adjusted EPS NANA11%46.4%
Book Value per Share 12.47.39.77.7
Share Price 22.6% 28.3% 11.5% 73.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity (%) 1.96-1.913.88-2.52-1.32-2.38-3.942.97-2.172.153.125.08
Operating Profit Margin (%) 33.0538.8444.337.5343.6834.0746.4562.315.4731.0448.0852.77
Net Profit Margin (%) 11.1-8.1713.07-13.82-5.5-7.96-10.646.79-9.714.3111.117.92
Debt to Equity 10.860.560.690.80.991.431.810.731.080.960.77
Working Capital Days 969640502665554562540473730239348240
Cash Conversion Cycle 29732221730624416445-707-6-155-
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Entity Percentage Holding
Promoters 74.99%
Institutions 14.14%
Non-Institutions 10.87%
Pledged *18.2118.0018.0018.0026.0025.5825.5725.5725.5725.57
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Elpro International Ltd's earnings have grown by 0%, whereas share price has appreciated 28.3% CAGR over the past five years, indicating the company’s share price is likely overvalued. However, for specific investment actions please consult your investment advisor.

Elpro International Ltd share price has appreciated 22.6% annually (CAGR) over the past ten years.

Data is not available for this company.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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