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Kalyani Forge Ltd. Stock Analysis

Small Cap
Evaluated by 229 users | BSE: 513509 | NSE: KALYANIFRG |
Forgings
Kalyani Forge was established on January 29, 1979, as a private limited company by the name of Ellora Engineering Company Private Limited. later in 1992 was converted into a public limited company and also changed its name to the present one. The company is a part of the well reputed...

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'20
Return on Capital Employed 8.12%12.73%8.69%5.13%1.43%3.15%4.63%6.46%7.15%-2.22%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 236278261205241231227259286201
Y-o-Y Gr. Rt.-17.9%-6.2%-21.2%17.2%-4.1%-1.8%14%10.8%-29.8%
Adjusted EPS (Rs.) 17.6636.9524.1213.18-5.972.7612.0817.2917.67-19.26
Y-o-Y Gr. Rt.-109.2%-34.7%-45.4%-145.3%NA337.7%43.1%2.2%-209%
Book Value per Share (Rs.) 217.01250.98272.32282.53267.79268.41280.4293.51306.66280.71
Adjusted Net Profit 6.413.48.84.8-2.214.46.36.4-7
Net Op. Cash Flow (Rs. Cr.) 12.333.430.219.225.419.215.512.33024.1
Debt to Cash Flow from Ops 5.962.142.273.111.842.134.095.121.561.31
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.
Kalyani Forge Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -1.8%-3.6%-4%-29.8%
Adjusted EPS -201%NA-216.8%-209%
Book Value per Share 2.910-8.5
Share Price -0.6% -12.4% -25.6% -9.4%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 8.4415.799.224.75-2.171.034.46.035.89-6.56
Operating Profit Margin (%) 10.5614.3812.6211.485.516.847.138.319.014.18
Net Profit Margin (%) 2.724.833.372.33-0.90.441.942.432.25-3.49
Debt to Equity 0.930.780.690.580.480.420.620.590.420.31
Working Capital Days 166143155189157165188196181230
Cash Conversion Cycle 516076927673788688124
Entity Percentage Holding
Promoters 58.61%
Non-Institutions 41.39%
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.

The 5-year analysis of Kalyani Forge Ltd.'s performance infers:

Kalyani Forge Ltd. earnings have grown by 0%, whereas share price has depreciated -12.4% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Kalyani Forge Ltd. share prices over the last 10 years. Here is what we found out:

Kalyani Forge Ltd. share price has depreciated -2.8% annually over the past ten years.

Kalyani Forge was established on January 29, 1979, as a private limited company by the name of Ellora Engineering Company Private Limited. later in 1992 was converted into a public limited company and also changed its name to the present one. The company is a part of the well reputed Kalyani group and has been promoted by U A Tahale and P S Kalyani.

The company is engaged in the manufacturing of Forgings, Precision Machined Components  and Sub-assemblies.

The company was

Kalyani Forge was established on January 29, 1979, as a private limited company by the name of Ellora Engineering Company Private Limited. later in 1992 was converted into a public limited company and also changed its name to the present one. The company is a part of the well reputed Kalyani group and has been promoted by U A Tahale and P S Kalyani.

The company is engaged in the manufacturing of Forgings, Precision Machined Components  and Sub-assemblies.

The company was formed at a time when the engineering industry, and particularly the automotive sector, was experiencing a change in the demand pattern. This compelled forging units to consider new ways and means to meet the buyers requirements on qualitative and quantitative terms. Kalyani Forge, the first and perhaps the only forge shop in India to exclusively use press technology for small forgings, successfully bridged the gap with consistent high quality and timely delivery.

Kalyani Forge is TS 16949 & QS 9000 certified company that manufactures closed die press forgings using HOT, WARM & COLD forging technologies in the weight range - 50 gms to 12 kgs. Kalyani Forge specializes in the manufacture of connecting rods for two & four wheelers.

Kalyani Forge is well located at Koregaon Bhima, 30 Km from Pune which is known as 'The Detroit of India' & 'The Oxford of the East'. It is around 160 Kms from Mumbai i.e. approximately 30 minutes by air & 3 hours by road. Pune is well connected to other metropolitan cities like Delhi, Bangalore, Chennai, Kolkatta.

Product range of the company includes:

Hot forgings

  • Crankshafts
  • Profiles
  • Connecting rods
  • Shifter Forks
  • Under Brackets

Cold forgings

  • Spline shafts
  • Kidney gears

Warm forgings

  • Lug gears
  • Tulips, gear wheel

Machine components

  • Precision machined components

Different divisions of the company are:

  • Product Engineering Division
  • Hot Forging Division
  • Metal Forms Division
  • Precision Auto Components Division
  • Metallurgical & Metrological Testing 

Milestones :

  • 2004 - Forging Capacity Expansion & TS16949 Certification 
  • 2003- Machining Capacity Expansion 
  • 2002- Technology Upgradation for CAD/CAM Facilities
  • 2001- QS 9000 Certification
  • 1999- Establishment of Metal Forms Division
  • 1995- ISO 9002 Certification & Establishment of Machine Shop 
  • 1992 - Maiden Export Order from Italy 
  • 1981 - Commencement of Commercial Production of Hot Forgings 
  • 1979 - Company Incorporation

Achievements/ recognition:

  • TS 16949 Certified by Underwriters Laboratories (UL) , USA & QS 9000
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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