Stovec Industries Ltd - Stock Valuation and Financial Performance

BSE: 504959 | NSE: | Textile - Machinery | Small Cap

Stovec Inds Share Price

2,395.05 6.00 0.25%
as on 28-Mar'24 14:12

DeciZen - make an informed investing decision on Stovec Inds

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Stovec Industries stock performance -

mw4me loader
P/E Ratio (SA):
55.20
Market Cap:
498.8 Cr.
52-wk low:
1,810
52-wk high:
3,030

Is Stovec Industries Ltd an attractive stock to invest in?

1. Is Stovec Industries Ltd a good quality company?

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

2. Is Stovec Industries Ltd undervalued or overvalued?

The key valuation ratios of Stovec Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Stovec Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Stovec Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Stovec Inds:

Analysis of Financial Track Record

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

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.
Stovec Industries 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'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22TTM
ROCE % 22.7%20.8%31.9%28.9%26.5%25.4%21.7%10%19.4%11.6%-
Value Creation
Index
0.60.51.31.10.90.80.6-0.30.4-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 77.394.9157189210193194151233236207
Sales YoY Gr.-22.8%65.1%20.3%11.3%-8%0.6%-22.3%54.5%1.1%-
Adj EPS 50.953.697.6107.3124.1140.5132.964.4137.39343.3
YoY Gr.-5.3%82.3%9.9%15.7%13.2%-5.4%-51.5%113.1%-32.2%-
BVPS (₹) 241.4275.9339.4409.4531.6581.1645.3648.7769.7832670.8
Adj Net
Profit
10.611.220.422.425.929.327.713.528.719.49
Cash Flow from Ops. 8.74.717.625.420.140.821.422.24.324.5-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.2%2.4%6.7%1.1%
Adj EPS 6.9%-5.6%-11.2%-32.2%
BVPS14.7%9.4%8.8%8.1%
Share Price 17.9% 0.1% 11.7% 27.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22TTM
Return on
Equity %
22.620.731.728.726.425.321.71019.411.65.8
Op. Profit
Mgn %
17.2172118.82020.918.710.615.911.26.5
Net Profit
Mgn %
13.711.81311.912.415.214.38.912.38.24.4
Debt to
Equity
00000000000
Working Cap
Days
172234198174145142132171152182122
Cash Conv.
Cycle
5264565448495685648490

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 5.80%

Sales growth has been subdued in last 3 years 6.68%

Net Profit has been subdued in last 3 years -11.20%

Sales growth is not so good in last 4 quarters at -10.45%

Latest Financials - Stovec Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 43.3 160.9
TTM Sales (₹ Cr.) 207 195
BVPS (₹.) 670.8 0
Reserves (₹ Cr.) 138 139
P/BV 3.56 0.00
PE 55.20 14.85
From the Market
52 Week Low / High (₹) 1810.00 / 3030.00
All Time Low / High (₹) 17.00 / 3874.95
Market Cap (₹ Cr.) 499
Equity (₹ Cr.) 2.1
Face Value (₹) 10
Industry PE 41.1

Management X-Ray of Stovec Inds:

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

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Analyst's Notes

Key Ratios of Stovec Inds

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22
Sales7795157189210193194151233236
Operating Expenses 6479124153168153158135196210
Manufacturing Costs8101417202322172625
Material Costs425188106114969580127138
Employee Cost 9121316202120212426
Other Costs 66914141421172021
Operating Profit 13163335424036163726
Operating Profit Margin (%) 17.1%16.9%21.0%18.8%19.8%20.6%18.6%10.5%15.8%11.1%
Other Income 3344465665
Interest 0000000000
Depreciation 1355654556
Exceptional Items 00000140028
Profit Before Tax 15173134395437173932
Tax 55111214169498
Profit After Tax 11112122263928133025
PAT Margin (%) 13.7%11.7%13.1%11.9%12.2%20.1%14.4%8.9%12.7%10.5%
Adjusted EPS (₹)50.753.298.4107.3123.1185.5133.864.5142.0118.6
Dividend Payout Ratio (%)30%29%29%29%29%30%45%34%40%40%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22

Equity and Liabilities

Shareholders Fund 50587185111121135135161174
Share Capital 2222222222
Reserves 48566983109119133133159172
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables8142026272422201523
Others Liabilities 37466731204128282417
Total Liabilities 95117157143158186184184200213

Fixed Assets

Gross Block27424750433738465761
Accumulated Depreciation141722266812162126
Net Fixed Assets13252523372926303634
CWIP 0006005000
Investments 3001111110
Inventories11202837322533313958
Trade Receivables13203026342731253123
Cash Equivalents 27132724359078873671
Others Assets28404826181411115726
Total Assets 95117157143158186184184200213

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22
Cash Flow From Operating Activity 95182520412122424
PBT 15173134395437173932
Adjustment 01554-120013
Changes in Working Capital -3-7-8-1-1014-711-25-4
Tax Paid -4-6-10-13-14-16-9-6-11-7
Cash Flow From Investing Activity 1-11-13-19-7-3616-272-5
Capex -1-14-6-7-166-5-4-9-7
Net Investments -13-14-137-4636-278-1
Others 317233-15433
Cash Flow From Financing Activity -3-4-4-8-8-9-14-12-5-12
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 0000000000
Dividend Paid -2-3-3-6-6-8-110-5-12
Others 0-1-1-1-1-2-2-1200
Net Cash Flow 7-101-15-523-1828
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22
Ratios
ROE (%)22.5320.5531.9728.6526.1633.3421.829.9720.0214.81
ROCE (%)32.3530.6948.6343.8640.2446.9529.1212.726.3719.4
Asset Turnover Ratio1.060.961.231.351.451.121.050.821.211.14
PAT to CFO Conversion(x)0.820.450.861.140.771.050.751.690.130.96
Working Capital Days
Receivable Days56595350505855684442
Inventory Days46545158575354785575
Payable Days74766978859786955150

Stovec Industries Ltd Stock News

Stovec Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Stovec Inds on 28-Mar-2024 14:12 is ₹2,395.1.
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 28-Mar-2024 14:12 the market cap of Stovec Inds stood at ₹498.8.
The latest P/E ratio of Stovec Inds as of 28-Mar-2024 14:12 is 55.20.
The latest P/B ratio of Stovec Inds as of 28-Mar-2024 14:12 is 3.56.
The 52-week high of Stovec Inds is ₹3,030 and the 52-week low is ₹1,810.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Stovec Inds is ₹207.3 ( Cr.) .

About Stovec Industries Ltd

Stovec Industries Limited (SIL) was incorporated on June 5, 1973 as Stovec Screens India Limited under the Companies Act, 1956 with the Registrar of Companies, Mumbai and was subsequently renamed Stovec Industries Limited on October 12, 1988. The registered office was shifted to the state of Gujarat in the year 2007. The registered & corporate office and manufacturing facilities of the company are situated at N.I.D.C., Near Lambha Village, Post Narol, Ahmedabad, Gujarat.

SIL is presently engaged into manufacturing of perforated nickel rotary screens and engraved cylindrical screens, (“consumables”), Rotary printing machines, Anilox Rollers, press room chemicals. The company is also engaged into trading of Rotamesh screens for label printing.

The core activities of the company are development and production of consumables for their use in textile and graphic printing industry. The activity also includes manufacturing, supply, installation and after sales support of the Rotary printing machines.

The company has entered into a technical collaboration agreement with Stork Screens B.V. (since renamed as SPBV) for the supply of complete know-how and information for the manufacture of screens, planning of the project and to supply imported machinery. Commercial production of preformatted nickel rotary screens commenced in August, 1975.

The company in the past was engaged into manufacturing of pre-sensitised off-set plates used in graphics industry and was also engaged into manufacturing of electronic parts. Stormac India Limited was merged with SIL with effect from October 1, 1987. Consequent to an order passed by BIFR on November 26, 1990, Assotex Engineering Industries Limited, was amalgamated with SIL effective April 1, 1989. Storle Pumps India Ltd and Pranay Shares & Securities Limited were the subsidiaries of SIL. The company has already divested its stake from the said companies. The company also sold off the pre-sensitised off-set plates, electronics, sintered metal and ferrite division over the period of time.

The shares of the company are listed on the BSE and ASE.

Business area of the company

The company’s principal activities are to manufacture and distribute pre-sensitized offset plates, screens and electronic and other machinery related products.

The company operates mainly in four segments: industrial machinery, screens, chemicals and graphics. The Industrial Machinery segment manufactures rotary screen printing machines, components and spares. The Screens segment manufactures perforated rotary screens, engraving and auxiliary chemicals and engraved copper rollers. Chemical segment includes manufacturing of engraving and press room chemicals. The Graphics segment manufactures pre-sensitized offset plates and press room chemicals.

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