Vesuvius India Ltd Stock Analysis

BSE: 520113 | NSE: VESUVIUS | Refractories | Small Cap

BSE Share Price Jan 20, 18:01
1113.35 7.20 (0.65%)

DeciZen - Make an Informed Decision on Vesuvius India

Overall Rating

1. Quality

2. Valuation

Fair
P/E P/S EV/EBITDA

3. Price Trend

Semi Strong

FAQ's

1. Is Vesuvius India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vesuvius India Ltd is a good quality company.

2. Is Vesuvius India Ltd undervalued or overvalued?

The key valuation ratios of Vesuvius India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Vesuvius India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Vesuvius India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Vesuvius India:

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.
Vesuvius India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide
Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20TTM
ROCE % 20.5%17.9%18.1%14.5%15.9%16.7%16%13.6%11.2%6.6%-
Value Creation Index NA0.30.30.00.10.20.1-0.0-0.2-0.5-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 5435646026527008229119258877921,018
YoY Gr. Rt. %-3.8%6.7%8.4%7.3%17.4%10.9%1.5%-4.1%-10.8%-
Adj EPS 27.428.132.829.736.644.248.846.742.426.535.1
YoY Gr. Rt. %-2.5%16.5%-9.4%23.2%21%10.3%-4.3%-9.2%-37.5%-
BVPS (₹) 146.9169.1195.6216.4244.8286.6325.6363.4396.3414.7434.5
Adj Net Profit 55.757.166.560.274.289.899.194.886.153.871
Cash Flow from Ops. 45.350.26464.55450.219194.674.3102-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales 4.3%2.5%-4.6%-10.8%
Adj EPS -0.4%-6.2%-18.4%-37.5%
BVPS 12.211.18.44.6
Share Price 12.8% -0.9% -2.8% 2.6%

Key Financial Parameters

Performance Ratio Colour Code Guide
Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20TTM
Return on Equity % 20.217.81814.415.916.715.913.611.26.58.3
Op. Profit Mgn % 17.817.618.815.618.118.618.516.413.89.910.2
Net Profit Mgn % 10.310.111.19.210.610.910.910.39.76.87
Debt to Equity 0000000000-
Working Cap Days 2242502612471882192883063373900
Cash Conv. Cycle 516070727174625458580

Recent Performance Summary

Sales growth is good in last 4 quarters at 36.39%

Return on Equity has declined versus last 3 years average to 8.30%

Sales growth has been subdued in last 3 years -4.59%

Net Profit has been subdued in last 3 years -18.42%

Latest Financials - Vesuvius India Ltd.

Standalone Consolidated
TTM EPS (₹) 35.1 -
TTM Sales (₹ Cr.) 1,018 -
BVPS (₹.) 434.5 -
Reserves (₹ Cr.) 862 -
P/BV 2.56 -
PE 31.76 -
From the Market
52 Week Low / High (₹) 903.50 / 1362.00
All Time Low / High (₹) 30.05 / 1486.10
Market Cap (₹ Cr.) 2,260
Equity (₹ Cr.) 20.3
Face Value (₹) 10
Industry PE 39

Management X-Ray of Vesuvius India :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Vesuvius India Ltd

Vesuvius, established in 1916 as Vesuvius Crucible, is a world leader in the design, engineering, manufacture and delivery of refractory products, systems and services for high-technology industrial applications.

Vesuvius was the originator of the technologies and processes it continues to deploy today. The depth and breadth of expertise acquired over the years by our engineers, in ceramics, metallurgy and metal coating, enables them to interact as peers with their customers on all continents to define value-creating solutions, monitor their implementation and ensure their reliability over time. These solutions incorporate products developed by R&D engineers in 7 Vesuvius Research Centres worldwide.

With the integration of Foseco in April 2008, Vesuvius is now present in 30 countries on 5 continents, with 80 manufacturing units, 7 R&D centres and numerous sales agencies, together employing over 12,000 people.

Foseco has been associated with the metals Industry for over 75 years and today is acknowledged as a world leader in the supply of consumable products for use in the foundry industry with a presence in 32 countries and major facilities in Germany, USA, UK, Brazil, China, India, South Korea and Japan.

The company was founded by Eric Weiss in 1932 and quickly became established as a supplier to the Foundry Industry, from where the name FOundry SErvice COmpany was derived. In April 2008, Foseco was acquired by Cookson Group plc and is now part of Vesuvius.

Different divisions of the company:

Iron & Steel Division VESUVIUS' STEEL DIVISION provides customers with a full range of products and systems for the continuous casting of steel.

VESUVIUS' product range includes:

  • Isostatically-pressed alumina graphite consumable products
  • Slide gate systems and refractories
  • Continuous temperature measurement instruments
  • Process automation
  • Lining materials
  • Pre-cast insulating materials.

FOUNDRY

VESUVIUS' Foundry Division supplies ferrous and non-ferrous foundries as well as investment casting, with a wide range of refractories. Key products include monolithic and brick linings for furnaces, flow control products, crucibles used to melt and transfer molten metals, temperature measurement systems, dosing accessories, degassing products and ceramic filters which reduce flaws and control turbulent flow during mould filling.

GLASS

VESUVIUS supplies a wide range of special refractories for the Glass industry. Key products supplied by VESUVIUS to the glass industry include refractories used in both glass production and glass transformation installations.

SOLAR

A key component for the mass production of multi crystal Solar Grade Silicon ingots is the availability of large ceramic crucibles in which ingots are manufactured.

Almost two decades ago, VESUVIUS has developed a unique process to produce these complex ceramic parts on a commercial scale.

MINERAL PROCESSING

VESUVIUS has a long experience of the supply of refractories to all areas of the cement production process, and to other rotary kiln based minerals processing applications.

HPI & POWER

Vesuvius is a World Class supplier to the Hydrocarbon Processing and Power Generation Markets. Our Superior Abrasion and Erosion Resistant Castables, Plastic Refractories, Brick and Gun mixes are used extensively in all process units in these industries. We also possess a full service Engineering and R&D department to stay on the cutting edge of technology and offer state of the art refractory products.

Milestones:

  • 1916- Vesuvius Crucible Company founded to manufacture clay graphite crucibles
  • 1960-  Worldwide expansion and development of isostatic pressing technology and alumina graphite isostatically pressed products
  • 1986- COOKSON GROUP acquires VESUVIUS
  • 1988- Acquisition of ACCUMETRIX CORP. (USA)
  • 1989- Acquisition of STEEL SERVICE MALMÖ (Scandinavia), McDANEL REFRACTORY CO. (USA), FLO-CONTROL SYSTEMS (USA) and LAVA CRUCIBLE (USA)
  • 1991- Acquisition of METACON (Switzerland), NEOMELT (a division of Ferro Corp. USA), TYLER (USA), MONTERREY (Mexico)
  • 1993- Acquisition of LECO (USA) Joint venture (50%) with KAWASAKI REFRACTORIES (Japan)
  • 1995- Acquisition of HI-TECH CERAMICS (USA)
  • 1997- Acquisition of MONOFRAX (USA), ZEDMARK REFRATTARI (Italy), CROW (Australia)
  • 1998- Acquisition of HINCKLEY GROUP (Flogates & KSR, UK), IIE (Belgium), FLO-CONTROL ITALIANA (Italy), BECKER & PISCANTOR (Germany)
  • 1999- Acquisition of VGT DYKO (Germany) and PREMIER REFRACTORIES INTERNATIONAL
  • 2000- Acquisition of SKAWINA REFRACTORIES (Poland) Acquisition of monolithics plant at VISAKHAPATNAM (India)Joint venture with PREMIER HERNIC REFRACTORIES (South Africa)
  • 2002- Acquisition of SIR (Germany), the remaining shares of PREMIER HERNIC REFRACTORIES (South Africa) and AG REFRACTORY SERVICES (Australia)
  • 2003- Acquisition of BLUE DIAMANT CY (Mehsana, India), our first Foundry plant in Asia Pacific Opening of a new mix plant in China: VESUVIUS ADVANCED CERAMICS Co, Ltd (China)
  • Building of a new glass tempering rolls plant VESUVIUS ZYAROCK CERAMIC (Suzhou) Co.,Ltd. (China)
  • Set up of a new fused silica crucibles plant (used for the production of photovoltaic solar cells), VESUVIUS SOLAR CRUCIBLES, s.r.o. (Czech Republic)
  • 2004- Acquisition of SIDE DAMS (Italy) Creation of sales offices: VESUVIUS Co. Ltd (Thailand) and VESUVIUS CORPORATION S.A., TAIWAN BRANCH (Taiwan)
  • Extension to the existing Kua Tang manufacturing plant VESUVIUS ZYAROCK CERAMIC (Suzhou) Co., Ltd., (China)
  • Take over of the monolithics business of BULLI REFRACTORIES (Australia)
  • Divestment of VGT DYKO (Germany) and PREMIER BELGIUM (Belgium)
  • 2005- Joint venture with WUGANG-VESUVIUS ADVANCED CERAMICS Co, Ltd. (China) increasing to 50%Disposals of non-core technical ceramics business (Mc Danels US)
  • 2006- Divestment of Ceramics fibres and Carbon Blocks business (UK)
  •  2007- Disposals of MONOFRAX fust-cast refractories and Snowshoe (Indiana) refractory brick business (USA)
  • 2010 - New Mix Plant at Kolkata factory.
  • 2012 - Doubled capacity to manufacture shaped refractory at Kolkata factory.
  • 2013 - New taphole clay facility replaced old facility at Visakhapatnam factory.

Read More Read Less