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Euro Ceramics Ltd. Stock Analysis

Small Cap
Evaluated by 242 users | BSE: 532823 | NSE: EUROCERA |
Ceramics/Marble/Granite/Sanitaryware
Euro Ceramics incorporated in 2002; manufactures wide range of vitrified ceramic tiles, calcareous tiles, sanitary ware, bathroom tiles and concepts and aluminum extruded sections. The company commenced its operation with an installed capacity of 35880 MTPA which later was increased to 44091...

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'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Capital Employed 1.58%-1.44%10.73%-9.45%-13.36%-7.01%-9.12%-3.48%-0.52%-16.49%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 21320239317889.976.649.7565619.4
Y-o-Y Gr. Rt.--5.5%95%-54.8%-49.4%-14.8%-35.1%12.6%0.1%-65.5%
Adjusted EPS (Rs.) -12.17-24.5617.67-34.35-37.43-10.37-11-3.59-0.54-10.33
Y-o-Y Gr. Rt.-NANA-294.4%NANANANANANA
Book Value per Share (Rs.) 101.7177.4798.4431.95-6.06-11.77-47.74-51.38-14.82-23.42
Adjusted Net Profit -20.8-4230.2-90.8-107-35-37.1-12.1-1.8-34.8
Net Op. Cash Flow (Rs. Cr.) -45.465.596.321.441.77.41.53.8-216-2.5
Debt to Cash Flow from Ops -11.328.034.9922.9312.4768.05332.89129.9-1.31-106.52
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.
Euro Ceramics Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -23.4%-26.5%-27%-65.5%
Adjusted EPS NANANANA
Book Value per Share -184.9000
Share Price -21.1% -6.6% -26.9% 118.4%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Equity (%) -11.23-27.4119.49-69.27-318.67122.7436.987.231.6354.03
Operating Profit Margin (%) 20.0512.6729.52-9.58-30.87-13.720.75-14.43-11.61-68.52
Net Profit Margin (%) -9.76-20.847.69-51.06-118.99-45.65-74.68-21.61-3.24-180.03
Debt to Equity 2.953.972.855.82-30.03-12.67-3.11-2.87-5.63-3.37
Working Capital Days 3103702094546746448116656871,741
Cash Conversion Cycle 173207781591931271595312471
Entity Percentage Holding
Promoters 10.09%
Institutions 3.33%
Non-Institutions 86.58%
Pledged *99.9999.9999.9999.9999.9999.9999.9999.9999.9999.99
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Euro Ceramics's performance infers:

Euro Ceramics earnings have grown by 0%, whereas share price has depreciated -6.6% 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 Euro Ceramics share prices over the last 10 years. Here is what we found out:

Euro Ceramics share price has depreciated -25.3% annually over the past ten years.

Euro Ceramics incorporated in 2002; manufactures wide range of vitrified ceramic tiles, calcareous tiles, sanitary ware, bathroom tiles and concepts and aluminum extruded sections.

The company commenced its operation with an installed capacity of 35880 MTPA which later was increased to 44091 MTPA in December 2005. Company’s sanitary ware division has an annual capacity of 11000 MTPA.

The company has certifications such as ISO 9001: 2000, ISO 13006/EN 176 Group B1a and VJTI for

Euro Ceramics incorporated in 2002; manufactures wide range of vitrified ceramic tiles, calcareous tiles, sanitary ware, bathroom tiles and concepts and aluminum extruded sections.

The company commenced its operation with an installed capacity of 35880 MTPA which later was increased to 44091 MTPA in December 2005. Company’s sanitary ware division has an annual capacity of 11000 MTPA.

The company has certifications such as ISO 9001: 2000, ISO 13006/EN 176 Group B1a and VJTI for quality management. The company manufacturing unit is spread over on 120 acres of land located in Kutch district of Gujarat. It has employee strength 1090 people. Company also has undertaken research and development initiatives that conducts testing of raw materials, quality assurance, equipment testing and operates designing and screening laboratory.

Company runs 40 retail outlets spread across India under the brand name ‘Euro Stiles Stations’ . The company has a global presence in countries such as US, U.K, U.A.E and Turkey are among others.

Manufacturing capacity of ECL’s has an installed capacity of manufacturing capacity of 79,971 MTPA of vitrified ceramic tiles.

The company has an installed capacity of manufacturing capacity of 45,000 MTPA of calcareous tiles.

Company manufactures aluminum extruded with a capacity of 1,800 MTPA.

Milestone

2002- In April the company was incorporated as a Private Limited Company.          

        The company entered into an agreement with SACMI, Italy to supply plant and machinery. 

2003- The company started operations of its first phase of Vitrified Ceramic Tiles and Aluminum Extruded Sections.

         Company received quality certification for its product from VJTI, Mumbai 

2004- The company’s manufacturing plant received ISO 9001: 2000 certification. 

         The company entered into contract for supply of major plant and machinery and technical assistance from SACMI, Italy for expansion.                       

         The company received quality approval for its product from Applied Consumer Services Inc. Finland.                    

         In November, the company was converted into public limited company.

2005- In February, the company forayed and started operation of Jewellery Division        

        The company received accreditation as One Star Export House by Joint Director General of Foreign Trade, Govt. of India.    

        In November the company discontinued operation of Jewellery Division     

        Company started production of its expanded capacity of Vitrified Ceramic Tiles.     

        Euro Merchandise (India) became subsidiary of Euro Ceramics.

2006- Company commenced operation of 10 MW lignite based captive power plant.                 

         Commencement of Gasifier

2008- The company acquired Euro Glass (EGL)

Outlook

Euro Ceramics has laid out an Rs 575-crore expansion plan that is located at Ankleshwar for which the land has been already purchased. The facility is scheduled to start production from September, 2009.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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