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Asian Electronics Ltd. Stock Analysis

Small Cap
Evaluated by 121 users | BSE: 503940 | NSE: ASIANELEC |
Electronics - Components
Asian Electronics (AEL) is a manufacturer of energy saving products. Incorporated in 1964, the company started with manufacturing passive components and later in 1998 it diversified into the lighting segment.The company is focused on designing and manufacturing of energy efficient products. It...

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'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Capital Employed 5.46%9.41%13.04%19.1%-2.89%5.35%6.88%-14.74%-36.77%-5.89%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 83.110215636721621222414882.818.2
Y-o-Y Gr. Rt.-23.3%52.1%135.8%-41.1%-2.2%6%-34.2%-43.9%-78%
Adjusted EPS (Rs.) 2.297.0314.223.15-10.020.461.98-20.02-34.81-3.49
Y-o-Y Gr. Rt.-207%102%63%-143.3%NA330.4%-1111.1%NANA
Book Value per Share (Rs.) 66.2661.4776.71122.8471.1672.9472.9846.0911.37.23
Adjusted Net Profit 3.91225.466.4-301.46.1-71-123-13.8
Net Op. Cash Flow (Rs. Cr.) 22.4-12.7-30.2-13948.4-25.4195-1715.4-1.5
Debt to Cash Flow from Ops 2.85-6.69-5.26-1.194.3-9.40.69-11.4912.79-128.05
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.
Asian Electronics Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -15.5%-39%-56.7%-78%
Adjusted EPS -204.8%NA-220.8%NA
Book Value per Share -21.8-36.7-53.7-36
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Equity (%) 3.4810.9320.6926.92-10.590.632.71-36.1-122.16-42.01
Operating Profit Margin (%) 24.2721.9821.4724.5124.5911.2316.68-26.23-123.22-69.39
Net Profit Margin (%) 4.6911.6816.2918.07-13.840.642.71-48.08-149-75.73
Debt to Equity 0.560.81.160.470.981.10.61.257.48
Working Capital Days 5605274773587077476717661,0864,061
Cash Conversion Cycle 2282272092174453693024266241,751
Entity Percentage Holding
Promoters 8.38%
Institutions 0.04%
Non-Institutions 91.58%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Asian Electronics (AEL) is a manufacturer of energy saving products. Incorporated in 1964, the company started with manufacturing passive components and later in 1998 it diversified into the lighting segment.

The company is focused on designing and manufacturing of energy efficient products. It has a distribution network of 300 dealers spread across India.

AEL's financial model of “Pay from

Asian Electronics (AEL) is a manufacturer of energy saving products. Incorporated in 1964, the company started with manufacturing passive components and later in 1998 it diversified into the lighting segment.

The company is focused on designing and manufacturing of energy efficient products. It has a distribution network of 300 dealers spread across India.

AEL's financial model of “Pay from savings” has been recognized as one of the best by US Agency for International Development (USAID) in conjunction with other official agencies.

The company has a product portfolio that includes energy efficient lighting systems, range of luminaries such as Asian and Asian Raymold, intelligent lighting systems, LT and HT switched capacitor systems and HT substation load management system.

AEL offers high quality luminaries for use with T8 / T5 FTLs, CFLs, MV, SV, HID, lamps for all possible applications in the domestic, corporate, industrial, down lighting, floodlighting, landscaping segments and for special applications as in clean rooms in the pharmaceutical industry.

The company has partners with Westlux to distribute energy efficient lighting products all over Europe.

AEL has received certification from various agencies such as ISI, ETDC, ERDA, ERTL, CE, VDE, UL and EMV.

The company has over 500 industrial customers namely Taj Residency, Vardhman Group, The Leela Mumbai, Breach Candy Hospital, Tata Tele Services, Hero Cycles, Bharat Sanchar Nigam, Pepsico India Holding, Eveready Industries, Ceat Financial Services, Lucas TVS, Coca Cola,  Parle Product and Brittania Industries, among others.

Outlook

AEL has entered in joint venture with Home Solution Retail India -- part of Future group. The company will provide lighting solutions to Home Solution Retail. AEL has also formed joint venture with Home Solution and Idiom Design and Consulting.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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