Veejay Lakshmi Engineering Works Ltd - Stock Valuation and Financial Performance

BSE: 522267 | NSE: | Textile - Machinery | Small Cap

Veejay Lakshmi Engg Share Price

46.70 2.20 4.94%
as on 28-Mar'24 16:01

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Veejay Lakshmi Engineering Works stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
23.7 Cr.
52-wk low:
30
52-wk high:
68

Is Veejay Lakshmi Engineering Works Ltd an attractive stock to invest in?

1. Is Veejay Lakshmi Engineering Works Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Veejay Lakshmi Engineering Works Ltd is a below average quality company.

2. Is Veejay Lakshmi Engineering Works Ltd undervalued or overvalued?

The key valuation ratios of Veejay Lakshmi Engineering Works Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Veejay Lakshmi Engineering Works Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Veejay Lakshmi Engineering Works 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 Veejay Lakshmi Engg:

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.
Veejay Lakshmi Engineering Works Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 1.5%-8%-5.2%-2.1%-6.2%0.2%-20.6%-3.5%3%-22.6%-
Value Creation
Index
-0.9-1.6-1.4-1.2-1.4-1.0-2.5-1.3-0.8-2.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7111078.888.381.479.568.851.3756476
Sales YoY Gr.-55.1%-28.4%12%-7.8%-2.3%-13.5%-25.4%46%-14.7%-
Adj EPS 1.3-16.7-9.3-4-11.5-1.4-27.5-6.30.8-28-13.3
YoY Gr.--1357.9%NANANANANANANA-3555.6%-
BVPS (₹) 141.4122.6114.9123112.2111.984.679.882.544.335.2
Adj Net
Profit
0.7-8.5-4.7-2-5.8-0.7-14-3.20.4-14.2-7
Cash Flow from Ops. 3.68.77.4-3.38.2-5.5-0.1-6.18.4-9.4-
Debt/CF from Ops. 23.31.9-3.63.6-2.8-263.4-3.52.1-3.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -1.2%-4.7%-2.4%-14.7%
Adj EPS -240.3%NANA-3555.6%
BVPS-12.1%-17%-19.4%-46.3%
Share Price 4.5% 0.4% 18.5% 43.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.9-12.7-7.8-3.3-9.8-1.3-28-7.61-44.2-33.5
Op. Profit
Mgn %
7.8-2.8-14-3.93.6-10.51.16.2-15.8-4.8
Net Profit
Mgn %
1-7.7-6-2.3-7.2-0.9-20.3-6.20.6-22.2-8.9
Debt to
Equity
0.10.50.20.20.50.30.30.50.41.5-
Working Cap
Days
16212816613118519317920213814663
Cash Conv.
Cycle
1209510885135142118119931001

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years -2.38%

Debt to equity has increased versus last 3 years average to 1.48

Sales growth is not so good in last 4 quarters at 7.52%

Latest Financials - Veejay Lakshmi Engineering Works Ltd.

Standalone Consolidated
TTM EPS (₹) -13.3 -13.2
TTM Sales (₹ Cr.) 76.1 76.1
BVPS (₹.) 35.2 38.3
Reserves (₹ Cr.) 13 14
P/BV 1.33 1.22
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 30.01 / 67.96
All Time Low / High (₹) 6.40 / 193.70
Market Cap (₹ Cr.) 23.7
Equity (₹ Cr.) 5.1
Face Value (₹) 10
Industry PE 41.2

Management X-Ray of Veejay Lakshmi Engg:

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 Veejay Lakshmi Engg

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales70.99110.0778.7988.2681.3679.5368.7751.3274.9563.97
Operating Expenses 65.42113.2179.5884.7484.5476.6376.0150.7570.3174.08
Manufacturing Costs12.7416.4316.8514.5913.6011.058.457.307.838.36
Material Costs36.0978.5649.2651.0352.9549.9753.5833.1247.9051.33
Employee Cost 12.7514.0110.9614.7914.3211.8610.967.7810.3910.60
Other Costs 3.834.222.514.323.653.763.032.554.203.79
Operating Profit 5.56-3.14-0.793.52-3.182.90-7.240.574.64-10.11
Operating Profit Margin (%) 7.8%-2.9%-1.0%4.0%-3.9%3.6%-10.5%1.1%6.2%-15.8%
Other Income 0.190.370.580.700.742.031.740.460.870.32
Interest 0.732.470.780.651.221.281.141.562.031.73
Depreciation 4.539.924.674.694.083.172.572.442.642.53
Exceptional Items 014.980.800000000
Profit Before Tax 0.49-0.19-4.85-1.11-7.740.47-9.20-2.980.84-14.04
Tax -0.30-2.03-0.900.61-2.290.684.20-0.03-0.160
Profit After Tax 0.791.83-3.95-1.72-5.45-0.20-13.40-2.950.99-14.04
PAT Margin (%) 1.1%1.7%-5.0%-1.9%-6.7%-0.3%-19.5%-5.7%1.3%-21.9%
Adjusted EPS (₹)1.63.6-7.8-3.4-10.7-0.4-26.4-5.82.0-27.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 71.7062.2058.2662.4056.9356.7542.8940.4841.8522.46
Share Capital 5.075.075.075.075.075.075.075.075.075.07
Reserves 66.6357.1353.1857.3351.8551.6837.8235.4136.7817.39
Minority Interest0000000000
Debt5.6125.9311.1811.8229.2815.2612.9320.4916.8832.43
Long Term Debt312.4410.012.052.302.587.299.6412.3519.30
Short Term Debt2.6113.491.179.7726.9812.685.6510.854.5313.13
Trade Payables1.229.585.216.015.116.599.753.443.801.03
Others Liabilities 9.344.807.646.802.303.944.338.087.939.28
Total Liabilities 87.88102.5282.2987.0393.6282.5469.9072.5070.4765.20

Fixed Assets

Gross Block86.52116.73119.9247.5850.1051.1051.6456.1659.0459.06
Accumulated Depreciation61.2769.3073.774.588.5511.6113.7916.1318.6621.08
Net Fixed Assets25.2647.4346.1543.0141.5639.4837.8540.0440.3837.98
CWIP 0000003.590.0300
Investments 28.020.038.752.062.342.131.421.151.621.68
Inventories29.1028.2818.0330.4934.8331.0318.6319.6820.6517.68
Trade Receivables0.7512.952.833.812.575.684.164.110.810.47
Cash Equivalents 0.317.171.301.246.370.370.220.520.790.44
Others Assets4.456.655.246.415.963.844.036.976.216.95
Total Assets 87.88102.5282.2987.0393.6282.5469.9072.5070.4765.20

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3.598.677.35-3.278.23-5.49-0.05-6.138.43-9.44
PBT 0.49-0.19-4.85-1.11-7.740.47-9.20-2.980.84-14.04
Adjustment 4.932.783.454.874.423.752.963.754.074.12
Changes in Working Capital -1.617.158.59-7.5711.54-9.66.29-7.083.440.49
Tax Paid -0.22-1.060.170.540.01-0.11-0.090.190.09-0.01
Cash Flow From Investing Activity -1.70-8.92-10.226.78-2.250.28-3.84-1.01-2.350.04
Capex -1.72-26.19-1.84-2.75-20.27-3.92-0.97-2.45-0.02
Net Investments 017.06-8.659.55-0.01-0.12-0.04-0.17-0.02-0.02
Others 0.030.210.27-0.02-0.240.130.120.130.120.08
Cash Flow From Financing Activity -2.567.12-3.01-3.37-0.86-0.903.717.18-5.839.03
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -1.679.44-2.34-2.84004.712.362.711.57
Interest Paid -0.88-2.31-0.66-0.53-0.86-0.90-1-1.50-1.77-1.34
Dividend Paid -0.02-0.02-0.010000000
Others 00000006.32-6.788.79
Net Cash Flow -0.686.87-5.880.135.12-6.12-0.190.040.24-0.37
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)1.112.74-6.55-2.84-9.13-0.36-26.9-7.072.41-43.67
ROCE (%)1.562.68-5.02-0.63-8.122.22-12.6-2.44.72-21.39
Asset Turnover Ratio0.911.230.881.10.920.90.90.721.050.94
PAT to CFO Conversion(x)4.544.74N/AN/AN/AN/AN/AN/A8.52N/A
Working Capital Days
Receivable Days321351314192629124
Inventory Days128901049514315113213698109
Payable Days21255540384356732817

Veejay Lakshmi Engineering Works Ltd Stock News

Veejay Lakshmi Engineering Works Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Veejay Lakshmi Engg on 28-Mar-2024 16:01 is ₹46.70.
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 16:01 the market cap of Veejay Lakshmi Engg stood at ₹23.69.
The latest P/E ratio of Veejay Lakshmi Engg as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Veejay Lakshmi Engg as of 28-Mar-2024 16:01 is 1.33.
The 52-week high of Veejay Lakshmi Engg is ₹67.96 and the 52-week low is ₹30.01.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Veejay Lakshmi Engg is ₹76.07 ( Cr.) .

About Veejay Lakshmi Engineering Works Ltd

Veejay Lakshmi Engineering works Limited was incorporated in the year 1974 as a private Limited company. In the year 1994, public issue was made at a premium Rs 75 per share. The shares have been listed at Mumbai Stock Exchange.

Veejay Lakshmi started its production activites in 1975 in producing Two-for-one Twisters at the engineering unit located in Sengalipalayam, Coimbatore. Veejay Lakshmi is the largest manufacturer of Two-for-one Twister (TFO) in India with more than 4500 installations worldwide. Veejay Lakshmi is also the only manufacturer of Automatic Cone Winders (ACW) in India.

To enhance its production facilities second engineering unit was started in the year 1993 at Annur, Coimbatore. Veejay Lakshmi diversified into Yarn spinning by acquiring a textile mill in Udumalpet in the year 1993.

The need to generate and utilize windpower energy for the textile units led to the investment in 4 windmills of 225 KW each used for captive power consumption for the textile mills in 1994. These windmills are now used for Engineering units captive power consumption.

In 1996, Veejay Lakshmi entered into a Joint Venture with Savio Machine Tessili for the manufacture of Automatic cone winders in India. The joint venture agreement has come to an end from December 2004 and Veejay Lakshmi will be manufacturing and marketing Automatic cone winder and all related spareparts and accessories through its own sales and spares distribution network.

Veejay Lakshmi Textiles Limited, a Wholly owned subsidiary of Veejay Lakshmi Engineering works Limited was incorporated in the year 2001. The subsidiary was formed to manage the textile business of the holding company seperately. The transfer of business was done on 30.03.2003.

With the objective of consolidation, modernization, economies of scale and future value addition the textile unit at udumalpet was sold by the end of January 2005. To meet the additional power requirements of the textile mills 3 Windmills of 600KW each have been installed.

Continuing the tradition of commitment in delivering quality products to meet customer requirements, in combination with continuous Research and development for design improvements and cutting edge technology innovation, investments are continuously undertaken in improving the production facilities with the latest advanced technology machines to obtain high productivity, quality and achieve reduction in product costs

The product range of the company is broadly classified into 3 categories.

  • Twisting Solutions  - Two-for-One Twister
  • Winding Solutions - Automatic Cone Winder
  • New Developments- Random Assembly Winder

Achievements/ recognition:-

ISO 9000 in 1990

ISO 9002 in 1994

ISO 9001 in 1995

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