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Best & Crompton Engineering Ltd Stock Analysis

Small Cap
Evaluated by 93 users | BSE: 500046 | NSE: BECREL |
Electric Equipment
Founded in 1879 as a partnership firm in Madras by Andrew Vans Dunlop Best, Best & Crompton Engineering was incorporated as a private company in 1911. The name of the company was changed to Best & Co with effect from 1st May, 1975.The company acquired a substantial interest in the...

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
 Sep'04Sep'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Capital Employed -3.7%-4.95%-2.2%14.45%2.49%10.32%-1.6%-8.75%-2.3%-3.99%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 13.910.21210989.51715278.356.347.6
Y-o-Y Gr. Rt.--26.7%17%812.9%-17.9%91.5%-69.7%50.5%-28.1%-15.5%
Adjusted EPS (Rs.) -0.25-0.51-0.642.130.471.98-0.54-1.61-0.65-1.19
Y-o-Y Gr. Rt.-NANANA-77.9%321.3%-127.3%NANANA
Book Value per Share (Rs.) -0.39-0.65-1.927.168.4312.812.4410.099.88.62
Adjusted Net Profit -2.7-5.4-6.726.45.824.5-6.7-20-8.1-14.7
Net Op. Cash Flow (Rs. Cr.) -5.4-5.6-14.475.46.165.414.1-13.7-33.8-12.8
Debt to Cash Flow from Ops -7.55-2.14-1.950.156.830.431.24-2.93-1.42-3.98
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.
Best & Crompton Engineering Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 14.6%-11.9%-2.9%-15.5%
Adjusted EPS NA-220.4%NANA
Book Value per Share 00.5-11.5-12
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Sep'04Sep'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Equity (%) -9.1-6.7-2.515.522.811.97-3.38-11.06-5.05-9.7
Operating Profit Margin (%) -58.18-85.95-61.3221.977.3524.89-12.84-15.19-8.95-14.14
Net Profit Margin (%) -19.03-53-56.2324.216.5114.27-12.86-25.51-14.38-30.86
Debt to Equity -190.340.390.520.090.290.140.090.250.30.35
Working Capital Days 1,1401,5252,699154381330932548766890
Cash Conversion Cycle 8221,1521,9796213212118219134163
Entity Percentage Holding
Promoters 64.88%
Institutions 0.31%
Non-Institutions 34.81%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
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Data is not available for this company.

Data is not available for this company

Founded in 1879 as a partnership firm in Madras by Andrew Vans Dunlop Best, Best & Crompton Engineering was incorporated as a private company in 1911. The name of the company was changed to Best & Co with effect from 1st May, 1975.

The company acquired a substantial interest in the Crompton Engineering (Madras) in April 1974, with which it was associated

Founded in 1879 as a partnership firm in Madras by Andrew Vans Dunlop Best, Best & Crompton Engineering was incorporated as a private company in 1911. The name of the company was changed to Best & Co with effect from 1st May, 1975.

The company acquired a substantial interest in the Crompton Engineering (Madras) in April 1974, with which it was associated as promoters and shareholders since its inception. Best & Co was also the Managing Agents of the Cromption Engineering (Madras) up to 31st December, 1969.

Crompton Engineering (Madras) was amalgamated with the company and the name of the company was changed to Best & Crompton Engineering with effect from June 27, 1975.

The company’s vision is to become a globally competitive manufacturer of technology driven products.

Product Variety:

a) Transmission Lines -  

Best & Crompton has executed 33,300 ckt km of transmission lines, both in India and abroad. The construction of high voltage transmission lines are important part of the activities of Best & Crompton and this company entered the field of Transmission Lines in 1945 in technical Collaboration with Canadian Bridge Company.

Today the company is fully equipped to survey, plan, engineer and execute extra high voltage transmission lines projects. Its erection crew has long experience in dealing with specific local terrain, soil and climatic conditions.

b) Railway Electrification -

Best & Crompton forayed into the field of Railway Electrification in the year 1959 and is now a leader in the field in India, offering services on a turnkey basis. The company has a team of qualified electrical, civil and mechanical engineers who use state-of-the-art CAD technology and design foundations, intricate profile, erection details including layout plan, structure and erection drawings.

c) High voltage Substations -

The company is a pioneer in the field of High Voltage Substations in India and abroad.

Best & Crompton has built-up specialization in turnkey contracts, including Switchyard Civil works, control room building etc.

Its major clients include:

  • Power Grid Corporation of India
  • State Electricity Boards NTPC Neyveli lignite Corporation
  • North East Electric Power Corporation
  • Nuclear Power Corporation
  • National Hydro Electric Power Corporation
  • Industrial Customers

d) Engineering Consultancy -

Best & Crompton, with sixty years of experience in the priority areas of industrial development, set up its high-tech consultancy unit- Esquire Engineers and Consultants now a wholly owned subsidary of the Group.

EEC offers consultancy services in the areas of:-

  • Power and Energy
  • Distribution Plan Study
  • Industrial and Chemical Projects
  • Civil and Structural Engineering
  • Environmental Engineering
  • Fire Protection Engineering
  • Project Management

e) Engineering Design -

Best & Crompton Engineering has a state-of-the-art design division 'Esquire Engineering Solutions' providing advanced total engineering solutions in Reverse Engineering to its growing corporate customers in India and abroad. In early 1992, when most of the Indian industries were predominantly using drafting board for their design activities, EESL was using high end CAD/CAM workstation from US based Silicon Graphics.

f) Infotech -

Beacon Software Systems (Beaconsoft) has been promoted by Crombes Holding, India and Factory Systems Pte, Singapore. Beaconsoft is situated at Chennai, South India.

It is involved in IT training and software development.

g) Manufacturing -

Best & Crompton pumps are manufactured and marketed under the brand names of Beacon and Beacon Weir

Beacon Pumps have the following range :

  • Beacon Monoblocs
  • End Suction Coupled DIN 24255
  • Beacon Chemical and Process Pump DIN 24256 ISO 2858
  • Vertical Sump pumps
  • Transformer oil pumps(Centrifugal and Axial)
  • Slurry Pumps (Single and Twin Casing)

h) Electrical machinery, castings and powerline accessories

Emerging Business:

Electronics, Energy, Textile and Apparel, Steel, Machinery and Infrastructure.

Subsidiary Details:

The subsidiaries of the company are Krest Development & Leasing, Beacon Weir, Best & Crompton (Jersey), Kone Elevator India, Air Control and Chemical Engineering Company, Beacon Tileman, & Beacon Neyrpic.

In 1982, the company contracted with GEE Alsthom for the manufacture of automative castings and S.G. iron and with Siemex for fire fighting equipments.

In 1984, the company concluded a technical collaboration agreement with sheepbridge of U.K. to improve the profitability of the foundry operations.

During 1985, the company entered into a collaboration with Tileman of UK in the field of highly specialized Civil Construction. Also, Krest Development & Leasing ceased to be a subsidiary of the Company from 1993.

High-tech engineering consultancy unit -- Esquire Engineers and Consultants, Best & Crompton Engineering Projects, Best & Crompton Apparels are also the subsidiaries of the group.

Recent developments:

The board of directors of Best & Crompton Engineering, at its meeting held on March 13, 2009, has considered and approved a Draft Scheme of Amalgamation of its wholly owned subsidiaries -- Best & Crompton Engineering Projects, Best & Crompton Infratech Ltd, Best & Crompton Infratech (Ambattur), Best Crompton EU Energy, Best & Crompton Textiles & Apparels, Best & Crompton Electric, Best Land Realty and Nellai Steel India with itself.

Further, the board of directors of the above wholly owned subsidiaries has also approved the Draft Scheme of Amalgamation with the Company.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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