Past 10 year's financial track record analysis by Moneyworks4me indicates that Krishanveer Forge Ltd is a average quality company.
The key valuation ratios of Krishanveer Forge Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Krishanveer Forge Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.1% | -0.7% | -1.8% | -11.7% | 4.3% | 14.5% | 17.3% | 13.2% | 12.2% | 6.3% | - |
| Value Creation Index ⓘ | -0.6 | -1.1 | -1.1 | -1.8 | -0.7 | 0.0 | 0.2 | -0.1 | -0.1 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 33.1 | 26.7 | 12.5 | 6.2 | 29.2 | 55.1 | 50.9 | 40.4 | 67.2 | 80.9 | 79 |
| Sales YoY Gr. | - | -19.6% | -53.2% | -50.3% | 370.5% | 88.9% | -7.7% | -20.5% | 66.2% | 20.4% | - |
| Adj EPS ⓘ | 0.9 | -0.4 | -1.2 | -3.4 | 0.4 | 2.7 | 4.2 | 3.3 | 3.4 | 1.5 | 4.2 |
| YoY Gr. | - | -140.9% | NA | NA | NA | 661.1% | 52.2% | -21.6% | 4.9% | -56.3% | - |
| BVPS (₹) ⓘ | 21.6 | 22.4 | 21.4 | 18 | 18.4 | 20.2 | 24.4 | 27.3 | 30.7 | 32.2 | 34.9 |
| Adj Net Profit ⓘ | 1 | -0.4 | -1.3 | -3.7 | 0.4 | 3 | 4.6 | 3.6 | 3.8 | 1.6 | 5 |
| Cash Flow from Ops. ⓘ | 12 | 9.7 | -0.5 | 4.2 | 0.1 | 4.2 | 3.9 | 5.6 | -4.7 | 7.4 | - |
| Debt/CF from Ops. ⓘ | 1.3 | 1 | -12.9 | 1 | 46.9 | 1.1 | 1.2 | -0.1 | -1.1 | -0.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.4% | 22.6% | 16.7% | 20.4% | ||||
| Adj EPS ⓘ | 6.1% | 33% | -28.9% | -56.3% | ||||
| BVPSⓘ | 4.6% | 11.9% | 9.8% | 4.9% | ||||
| Share Price | 19.9% | 21.5% | 29.1% | 148.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.1 | -1.6 | -5.4 | -17.2 | 2 | 14.2 | 18.7 | 12.7 | 11.8 | 4.8 | 12.4 |
| Op. Profit Mgn % ⓘ | 9.9 | 5.6 | -1.8 | -38.6 | 9.3 | 13.3 | 14.6 | 15.8 | 9.8 | 4.9 | 9.5 |
| Net Profit Mgn % ⓘ | 2.9 | -1.5 | -10.3 | -60.1 | 1.4 | 5.4 | 9 | 8.9 | 5.6 | 2 | 5.8 |
| Debt to Equity ⓘ | 0.7 | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | -0 | 0.2 | -0 | - |
| Working Cap Days ⓘ | 328 | 288 | 446 | 603 | 137 | 119 | 161 | 215 | 159 | 145 | 71 |
| Cash Conv. Cycle ⓘ | 140 | 107 | 187 | 320 | 65 | 49 | 67 | 96 | 90 | 94 | 51 |
Return on Equity has increased versus last 3 years average to 12.40%
Sales growth is growing at healthy rate in last 3 years 16.72%
Net Profit has been subdued in last 3 years -28.88%
Sales growth is not so good in last 4 quarters at -5.70%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.2 | - |
| TTM Sales (₹ Cr.) | 79.2 | - |
| BVPS (₹.) ⓘ | 34.9 | - |
| Reserves (₹ Cr.) ⓘ | 27 | - |
| P/BV ⓘ | 2.84 | - |
| PE ⓘ | 23.78 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 36.65 / 106.00 |
| All Time Low / High (₹) | 0.90 / 106.00 |
| Market Cap (₹ Cr.) | 108 |
| Equity (₹ Cr.) | 10.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 33 | 27 | 12 | 6 | 29 | 55 | 51 | 40 | 67 | 81 |
| Operating Expenses ⓘ | 31 | 25 | 13 | 9 | 26 | 48 | 43 | 34 | 61 | 77 |
| Manufacturing Costs | 14 | 9 | 5 | 2 | 7 | 11 | 11 | 8 | 13 | 20 |
| Material Costs | 11 | 11 | 3 | 2 | 15 | 31 | 27 | 20 | 41 | 49 |
| Employee Cost | 2 | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 4 | 4 |
| Other Costs ⓘ | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Operating Profit ⓘ | 2 | 2 | 0 | -2 | 3 | 7 | 7 | 6 | 7 | 4 |
| Operating Profit Margin (%) | 6.8% | 5.6% | -1.8% | -38.6% | 9.3% | 13.3% | 14.6% | 15.8% | 9.8% | 4.9% |
| Other Income ⓘ | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest ⓘ | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 1 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 3 | -2 | -4 | 1 | 4 | 6 | 4 | 5 | 2 |
| Tax ⓘ | 0 | 1 | 0 | 0 | 0 | 2 | 1 | 1 | 2 | 0 |
| Profit After Tax | 0 | 1 | -1 | -4 | 0 | 2 | 5 | 4 | 4 | 2 |
| PAT Margin (%) | 0.8% | 4.0% | -9.0% | -59.8% | 1.5% | 3.8% | 9.0% | 8.9% | 5.6% | 2.0% |
| Adjusted EPS (₹) | 0.2 | 1.0 | -1.0 | -3.4 | 0.4 | 1.9 | 4.2 | 3.3 | 3.4 | 1.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 24 | 25 | 23 | 20 | 20 | 22 | 27 | 30 | 34 | 35 |
| Share Capital ⓘ | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves ⓘ | 13 | 14 | 12 | 9 | 9 | 11 | 16 | 19 | 23 | 24 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 15 | 10 | 7 | 3 | 4 | 4 | 4 | 0 | 5 | -2 |
| Long Term Debt | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
| Short Term Debt | 15 | 10 | 7 | 2 | 4 | 4 | 3 | 0 | 5 | -2 |
| Trade Payables | 3 | 3 | 1 | 2 | 6 | 9 | 8 | 8 | 9 | 7 |
| Others Liabilities ⓘ | 2 | 2 | 3 | 3 | 3 | 5 | 6 | 6 | 6 | 7 |
| Total Liabilities ⓘ | 44 | 40 | 34 | 27 | 33 | 41 | 45 | 44 | 54 | 48 |
Fixed Assets | ||||||||||
| Gross Block | 29 | 33 | 33 | 33 | 34 | 36 | 42 | 42 | 44 | 45 |
| Accumulated Depreciation | 17 | 18 | 19 | 20 | 22 | 23 | 24 | 26 | 27 | 28 |
| Net Fixed Assetsⓘ | 12 | 15 | 14 | 13 | 12 | 13 | 18 | 16 | 18 | 17 |
| CWIP ⓘ | 5 | 5 | 5 | 5 | 6 | 6 | 3 | 3 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 9 | 5 | 5 | 4 | 5 | 6 | 6 | 8 | 14 | 9 |
| Trade Receivables | 4 | 5 | 3 | 3 | 8 | 13 | 15 | 12 | 18 | 17 |
| Cash Equivalents | 3 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Others Assetsⓘ | 12 | 8 | 6 | 2 | 1 | 2 | 3 | 4 | 3 | 3 |
| Total Assets ⓘ | 44 | 40 | 34 | 27 | 33 | 41 | 45 | 44 | 54 | 48 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 12 | 10 | -1 | 4 | 0 | 4 | 4 | 6 | -5 | 7 |
| PBT ⓘ | 1 | 2 | -2 | -4 | 1 | 5 | 6 | 4 | 5 | 2 |
| Adjustment ⓘ | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Changes in Working Capital ⓘ | 9 | 6 | -0 | 6 | -2 | -2 | -2 | 0 | -10 | 4 |
| Tax Paid ⓘ | 0 | -1 | 0 | 0 | 0 | -1 | -1 | -1 | -2 | -1 |
| Cash Flow From Investing Activity ⓘ | -9 | -3 | -1 | 0 | 0 | -3 | -3 | 0 | 0 | -1 |
| Capex | 0 | 1 | 0 | 0 | 0 | -2 | -6 | 0 | -3 | 0 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -9 | -4 | -1 | 0 | 0 | -1 | 3 | 0 | 3 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | -6 | -1 | 0 | -1 | -1 | 1 | -2 | 0 | -1 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 1 | -1 | 0 | 1 | -1 | 0 | 0 |
| Interest Paid ⓘ | -1 | 0 | -1 | -1 | -1 | -1 | -1 | 0 | 0 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 2 | -6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 3 | 0 | -3 | 4 | -2 | 0 | 2 | 4 | -5 | 6 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.08 | 4.41 | -4.67 | -17.15 | 2.14 | 9.86 | 18.74 | 12.68 | 11.84 | 4.78 |
| ROCE (%) | 5.08 | 7.43 | -1.7 | -12.51 | 6.98 | 19.25 | 21.46 | 16.5 | 17.47 | 8.2 |
| Asset Turnover Ratio | 0.75 | 0.64 | 0.34 | 0.22 | 1.02 | 1.5 | 1.19 | 0.91 | 1.37 | 1.59 |
| PAT to CFO Conversion(x) | N/A | 10 | N/A | N/A | N/A | 2 | 0.8 | 1.5 | -1.25 | 3.5 | Working Capital Days |
| Receivable Days | 69 | 59 | 111 | 157 | 64 | 69 | 100 | 123 | 82 | 78 |
| Inventory Days | 105 | 94 | 135 | 228 | 53 | 37 | 41 | 62 | 60 | 53 |
| Payable Days | 89 | 103 | 235 | 314 | 95 | 89 | 121 | 156 | 79 | 59 |
Rajkumar Forge is one of the leading manufacturer and exporter of Medium and Heavy Open Die Forgings from India. Promoted by technocrats who have shaped the forging industry in the country over the last four decades and well supported by a skilled and qualified team of Engineers, Rajkumar Forge strives continuously to meet the ongoing needs of its global and domestic partners by providing value for money. Rajkumar Forge produces goods to International level at optimal costs.
Rajkumar Forge has created a state-of-the-art forging facility comparable with the best in the world. A carefully selected Brand New 1600 Ton Integrated forging complex ensures maximum cost effectiveness and consistent quality. Their Quality Commitment with a through understanding of Metallurgy and Manufacturing Methods & their Customer’s requirement ensure Total Customer Satisfaction.
Rajkumar Forge manufactures critical forgings and specialized components for the Oil, Gas, Power, Iron, Steel, Sugar, Cement, Chemical, Fertilizers, General Engineering & other Allied Industries in the CORE SECTOR.
Rajkumar Forge is one of the leading Exporter of Critical forgings and has a good presence in the South East Asian Markets. The Management is consciously committed to increase its Global presence and Customer base both geographically and in product portfolio. All developments and improvements are centered over this philosophy.
Products manufactured by the company includes:
Forgings are supplied to the following industries and in following material grades:
Sugar - Mill Roller Shafts, Gear Shafts, Tail Bars, Gear Rings and Blanks.
Steel - Table Rolls, Pinions, Spindles, Rolls for Slab & Continuous Caster, Blooming Mill & Hot Rolling Mill Rolls, Elongator Rolls, Wobblers and Gearing Components.
Cement - Kiln and Mill Rollers, Pinions and Pinion Shafts, Axles, Tie Rods and Location Bearings. Gear - Gear Blanks & Gear Rings.
Power - Rotor Shafts for Compressors, Alternators, Generators, Turbines (Hydro, Wind and Steam), Rotor Discs, Tube Sheets, Nozzles, Girth & Blind Flanges, Casings & Trunions, Vertical & Ball Mill Drive Shafts, Fan and Pump Shafts.
Chemical & Fertilizers - Fluid Ends, Manifolds and Tube Sheets, Flanges.
Oil Field Application - Round Bars and Square Bars, Casing Heads, Cross Forgings, Tubing Spool, Y Forgings, Body Blocks Forgings for SSSB and SSBT Valves, Shaped, Forging for Hangers, Body Housing, Slip Lock Housing etc.
Others - Piston Roads, Eccentric Shafts, Tie Rods, Ram, Sow Blocks, Bolster Plates for Hammers & Presses, Die Blocks for Plastic Molding and Forging Industries, Tool for forming and extrusions.
Achievements/ recognition:
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Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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