Sulzer India Ltd - Stock Valuation and Financial Performance

Name: Sulzer India
Brand: Sulzer India

BSE: 522087 | NSE: SULZER | Engineering | Small Cap

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Sulzer India stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

18.37

Market Cap:

400.6 Cr.

52-wk low:

1,151.1

52-wk high:

1,162

Is an attractive stock to invest in?

1. Is a good quality company?

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2. Is undervalued or overvalued?

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10 Year X-Ray of Sulzer India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14	TTM
ROCE % ⓘ	24.8%	19.9%	6.7%	38.6%	53.4%	40.4%	9.3%	1.2%	17%	18.2%	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	59.2	55.5	80.9	125	197	149	129	187	307	281	281
Sales YoY Gr.	-	-6.3%	45.9%	54.1%	58.3%	-24.5%	-13.2%	44.2%	64.7%	-8.4%	-
Adj EPS ⓘ	15.7	16.4	4.9	42.1	77.6	79.7	17.2	-1.2	55.1	63.7	63.2
YoY Gr.	-	4.7%	-70.3%	761.9%	84.5%	2.7%	-78.5%	-107.1%	NA	15.7%	-
BVPS (₹) ⓘ	74.9	98.4	98.9	131	168.4	236.4	205.5	230.6	269.1	332.3	252.8
Adj Net Profit ⓘ	5.4	5.7	1.7	14.5	26.8	27.5	5.9	-0.4	19	22	22
Cash Flow from Ops. ⓘ	2.5	-4	12.6	22.4	46.1	17.8	-8	-19.6	32.1	26.1	-
Debt/CF from Ops. ⓘ	0	-0.6	0	0	0	0	-1	-2.1	1.4	1.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	18.9%	7.4%	29.6%	-8.4%
Adj EPS ⓘ	16.9%	-3.9%	54.9%	15.7%
BVPSⓘ	18%	14.6%	17.4%	23.5%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14	TTM
Return on Equity % ⓘ	22.5	18.9	5	36.6	51.8	39.4	8.7	-0.5	22.1	21.2	21.6
Op. Profit Mgn % ⓘ	10.9	1.6	11.8	18.5	20.5	24.1	6.4	5.3	12.8	13.1	22.8
Net Profit Mgn % ⓘ	9.1	10.2	2.1	11.6	13.6	18.4	4.6	-0.2	6.2	7.8	7.8
Debt to Equity ⓘ	0	0.1	0	0	0	0	0.1	0.5	0.5	0.3	-
Working Cap Days ⓘ	188	229	174	142	161	298	234	262	189	206	0
Cash Conv. Cycle ⓘ	64	99	54	33	34	46	69	110	97	107	0

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to %

Sales growth has been subdued in last 3 years %

Net Profit has been subdued in last 3 years %

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

Latest Financials - Sulzer India Ltd.

	Standalone	Consolidated
TTM EPS (₹)	63.2	86.8
TTM Sales (₹ Cr.)	281	156
BVPS (₹.) ⓘ	252.8	237.7
Reserves (₹ Cr.) ⓘ	84	79
P/BV ⓘ	4.59	4.88
PE ⓘ	18.37	13.37

From the Market
52 Week Low / High (₹)	1151.10 / 1162.00
All Time Low / High (₹)	57.00 / 1550.00
Market Cap (₹ Cr.)	401
Equity (₹ Cr.)	3.5
Face Value (₹)	10
Industry PE ⓘ	34.7

Management X-Ray of Sulzer India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Sulzer India

Analyst's Notes

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Key Ratios of Sulzer India

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14
Sales	59.21	55.47	80.93	124.74	197.44	149.05	161.69	186.52	307.10	281.43
Operating Expenses ⓘ	52.76	54.82	71.35	101.63	158.16	113.41	153.04	189.05	276.16	244.95
Manufacturing Costs	9.24	11.04	13.39	19.42	16.76	15.87	34.78	28.83	27.07	22.28
Material Costs	29.75	32.21	42.79	60.93	111.80	71.73	79.87	85.48	175.42	132.79
Employee Cost	5.93	4.45	5.65	6.88	12.22	12.69	20.39	24.77	26.54	31.73
Other Costs ⓘ	7.83	7.12	9.52	14.40	17.38	13.12	18.01	49.97	47.12	58.15
Operating Profit ⓘ	6.45	0.66	9.58	23.10	39.28	35.64	8.65	-2.54	30.94	36.48
Operating Profit Margin (%)	10.9%	1.2%	11.8%	18.5%	19.9%	23.9%	5.3%	-1.4%	10.1%	13.0%
Other Income ⓘ	5.63	30.10	6.45	7.91	9.63	15.57	14.53	5.77	0.87	6.23
Interest ⓘ	0.81	0.75	0.94	1.13	1.12	0.99	1.40	2.52	4.30	5.54
Depreciation ⓘ	2.30	1.82	4.06	5.19	5.42	4.97	10.30	8.06	7.39	7.89
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	8.98	28.19	11.03	24.69	42.37	45.24	11.48	-7.35	20.12	29.28
Tax ⓘ	3.21	6.42	8.04	9.21	15.36	15.75	4.40	1.71	6.87	7.47
Profit After Tax	5.76	21.77	2.99	15.48	27.01	29.50	7.08	-9.06	13.25	21.81
PAT Margin (%)	9.7%	39.2%	3.7%	12.4%	13.7%	19.8%	4.4%	-4.9%	4.3%	7.7%
Adjusted EPS (₹)	16.7	63.1	8.7	44.9	78.3	85.5	20.5	-26.3	38.4	63.2
Dividend Payout Ratio (%)	30%	55%	81%	22%	45%	18%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14
Equity and Liabilities
Shareholders Fund	25.83	33.95	34.12	45.21	58.09	81.56	88.63	79.57	92.82	114.64
Share Capital ⓘ	3.45	3.45	3.45	3.45	3.45	3.45	3.45	3.45	3.45	3.45
Reserves ⓘ	22.38	30.50	30.67	41.76	54.64	78.11	85.18	76.12	89.37	111.19
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	0.09	2.37	0	0	0	0	10	40.42	45.95	30.36
Long Term Debt	0.09	2.37	0	0	0	0	10	0	0	0
Short Term Debt	0	0	0	0	0	0	0	40.42	45.95	30.36
Trade Payables	13.88	13.24	19.75	24.38	22.62	16.90	26.53	53.08	26.31	36.66
Others Liabilities ⓘ	13.26	5.70	18.06	28.76	120.23	103.45	29.94	86.53	76.49	71.51
Total Liabilities ⓘ	53.06	55.27	71.92	98.35	200.94	201.90	155.11	259.61	241.57	253.17
Fixed Assets
Gross Block	27.45	29.40	35.15	39.08	42.39	43.14	75.04	82.79	89.61	92.25
Accumulated Depreciation	17.71	14.27	17.02	21.17	23.29	27.58	36.76	44.55	50.64	55.01
Net Fixed Assetsⓘ	9.74	15.13	18.13	17.91	19.09	15.56	38.28	38.24	38.98	37.24
CWIP ⓘ	0.02	0.38	0.39	0.54	0.14	14.94	0.41	0.01	0.10	0.57
Investmentsⓘ	0.05	0.05	0	0	0	12.98	12.98	12.98	20.62	20.62
Inventories	13.96	12.33	21.05	33.82	35.16	22.50	42.31	134.89	97.72	105.44
Trade Receivables	21.62	15.41	17.20	12.98	19.73	19.73	27.23	21.47	24.58	31.33
Cash Equivalents	4.01	2.50	8.50	22.51	54.55	34.59	9.70	9.66	25.35	26.77
Others Assetsⓘ	3.67	9.46	6.65	10.60	72.27	81.60	24.20	42.36	34.22	31.20
Total Assets ⓘ	53.06	55.27	71.92	98.35	200.94	201.90	155.11	259.61	241.57	253.17

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14
Cash Flow From Operating Activity ⓘ	2.52	-4.04	12.63	22.38	46.14	17.83	-9.93	-19.64	32.07	26.11
PBT ⓘ	8.98	28.19	11.03	24.69	42.37	45.24	11.48	-7.35	20.12	29.28
Adjustment ⓘ	2.72	-20.83	4.27	5.31	5.02	3.94	10.88	6.44	10.61	10.92
Changes in Working Capital ⓘ	-5.72	-8.25	1.32	3.46	17.97	-18.39	-24.74	-15.9	7.05	-6.57
Tax Paid ⓘ	-3.46	-3.14	-3.98	-11.08	-19.21	-12.96	-7.56	-2.83	-5.71	-7.52
Cash Flow From Investing Activity ⓘ	-2.28	16.56	-3.31	-4.42	-4.94	-26.74	-17.79	-7.85	-17.95	-4.99
Capex	-2.79	-11.16	-6.71	-4.99	-6.83	-1.71	-33.11	-6.33	-10.71	-6.61
Net Investments	0	0	0.05	0	0	-12.98	0	0	-7.64	0
Others ⓘ	0.51	27.71	3.36	0.57	1.89	-12.05	15.31	-1.52	0.39	1.62
Cash Flow From Financing Activityⓘ	-3.43	-14.03	-3.33	-3.95	-9.17	-11.05	2.83	28.10	4.69	-19.57
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0.09	-0.04	-0.05	0	0	0	0	0	0	0
Interest Paid ⓘ	-0.81	-0.75	-0.94	-1.13	-1.12	-0.99	-1.40	-0.90	-2.29	-3.98
Dividend Paid ⓘ	-2.40	-13.75	-0.01	-2.41	-6.87	-8.59	-5.16	0	0	0
Others ⓘ	-0.31	0.53	-2.33	-0.41	-1.17	-1.47	9.39	29	6.98	-15.59
Net Cash Flow ⓘ	-3.19	-1.51	6	14.01	32.04	-19.96	-24.89	0.61	18.81	1.55

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Dec'04	Dec'05	Dec'06	Dec'07	Dec'08	Dec'09	Mar'11	Mar'12	Mar'13	Mar'14
Ratios
ROE (%)	23.99	72.83	8.79	39.02	52.3	42.25	8.32	-10.77	15.37	21.03
ROCE (%)	40.64	92.98	34	65.1	84.2	66.22	14.3	-4.42	18.88	24.54
Asset Turnover Ratio	1.33	1.12	1.35	1.54	1.39	0.76	0.95	0.98	1.37	1.16
PAT to CFO Conversion(x)	0.44	-0.19	4.22	1.45	1.71	0.6	-1.4	N/A	2.42	1.2
Working Capital Days
Receivable Days	110	111	69	42	29	47	50	44	24	35
Inventory Days	61	79	71	76	60	69	70	159	124	129
Payable Days	181	154	141	132	77	101	99	170	83	87

Sulzer India Ltd Stock News

Sulzer India Ltd FAQs

What is the share price of Sulzer India?

Company share prices are keep on changing according to the market conditions. The closing price of Sulzer India on 01-Jan-1970 05:30 is ₹0.00.

What is the market cap of Sulzer India?

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 01-Jan-1970 05:30 the market cap of Sulzer India stood at ₹400.6.

What is the P/E ratio of Sulzer India?

The latest P/E ratio of Sulzer India as of 01-Jan-1970 05:30 is 18.37.

What is the P/B ratio of Sulzer India?

The latest P/B ratio of Sulzer India as of 01-Jan-1970 05:30 is 4.59.

What is the 52-week high and low of Sulzer India?

The 52-week high of Sulzer India is ₹1,162 and the 52-week low is ₹1,151.1.

What is the TTM revenue of Sulzer India?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sulzer India is ₹281.4 ( Cr.) .

About Sulzer India Ltd

Sulzer India Limited, a subsidiary of Sulzer Limited, Switzerland, is a part of Sulzer Chemtech Business Unit of Sulzer Corporation, with headquarters in Winterthur, Switzerland and is active in the field of process engineering.

In 1988, Sulzer Corporation, Switzerland, launched Sulzer India as its full-fledged operations in India. The prime objective was the local value addition to the existing range of Sulzer products. The new state-of-the-art plant at Kondhapuri in Maharashtra, immediately started providing hi-tech products and solutions to the Indian industry.

Sulzer is known as a technology corporation, all over the world. Sulzer India is guided by the same philosophy while delivering solutions from conceptualizing to designing, installation and commissioning to customer support service. Organization is certified for ISO 9001:2000 and ISO 14001:2004 by BVQI.

The companyâ€™s manufacturing facility situated in Kondhapuri near Pune on the Pune Ahmednagar Highway.(150 km from Mumbai) at a built up area of 10000 sq. mtrs, over 12 hectares of land. This modern plant houses some of the latest machine tools and testing facilities run by a highly motivated and multi-skilled workforce. The facility is fully geared up to manufacture sheet metal parts and stainless steel fabrication to international standards for delivery to global markets.

The necessity to deliver quality products and on-line services are the means to stay ahead of competition. At Sulzer India, this same understanding is ingrained

Products and services offered by the company:

Mass Transfer Technology- Column Internals, Sulzer's big experience in the separation business allows to provide internals for each combination of technology. Transitions from structured packing sections to tray sections, changes between different tray sections or combination of separator-internals are designed for optimized performing columns. Internals could be designed and delivered for different materials; stainless steel, titanium, several plastics and pure carbon have been provided for many columns. The worldwide implemented standard guarantees the global quality in design and manufacturing of internals. They are installed on adjusted or on existing column attachments. The requirements are carefully verified and specified for each situation.
Engineering Services- Basic engineering, Process design, Study, Detail engineering of key equipment, Startup assistance, Additional services and tools, Tower Field Services, Data analysis from operation.
Fractional Crystallization- Sulzer India has the following crystallization technologies available: Static melt crystallization, Falling film crystallization, Heat pump technology.
Pervaporation Systems- Sulzer India has the following pervaporation technologies and skid-built equipment available: Continuous pervaporation, Batch pervaporation and Vapor permeation.
Random Packing- Sulzer India`s portfolio include both traditional and new generation random packings, comprising of the Nutter Rings, I-Rings, P-Rings and R-Rings.
The Shell - Sulzer Alliance- the alliance makes Sulzer India the authorized supplier of other high-end Shell Mass Transfer equipment. Sulzer India will market the new product range through our world-wide sales network increasing our position in the global market for Mass Transfer Components.
Separation Technology- Shell Schoepentoeterâ„¢, Shell Swirltubeâ„¢ Light, KnitMesh Separation Technology, EST Separation Technology, Sulzer Cyclone Gas Inlet Device GIRZ,etc
Structured Packings- Mellapakâ„¢, Sulzer gauze packing BX and CY, Sulzer gauze packing BXPlusâ„¢, Grids, Sulzer laboratory packing DX and EX, Katapakâ„¢-SP.
Trays- Sulzer India is the unique mass transfer component supplier on the market with a complete tray portfolio. The available trays range from conventional to high performance chordal down comer, multi-downcomer and finally to the latest developments of ultra-system limit trays.
Mixing & Reaction Technology- Sulzer's Static Mixers are designed on the basic principle of intersecting open flow channels. Static Mixers are suitable for gaseous, liquid and solid phases. Static mixing units are used in continuous processes. The mixing action is achieved by the continuous splitting, extension and transposition of components. Differences in concentration, temperature and velocity are equalized over the flow cross-section. The pumps or blowers delivering the components to be mixed at predetermined rates to the static mixing unit, supply the energy needed for mixing. Since static mixing units produce little back mixing, components must always be fed at a constant rate.Sulzer mixers are increasingly finding use in a variety of industries due to their proven advantages. Low investments and operating costs are the reasons for their use in following process industries for mixing and reaction duties. Petroleum, Natural Gas, Refineries Petrochemicals, Chemicals Polymer Production and Plastic Processing Pulp and Paper Industry Cosmetics, Detergents Foods Water and Wastewater Treatment Environment Protection.
Tower Field Service- Cana-Tex renowned services are now available through Sulzer India. Sulzer Tower Field Service's vessel repair and modification work demands its Quality Control group maintain a hands-on approach in the field.