Binani Industries Ltd - Stock Valuation and Financial Performance

BSE: 500059 | NSE: BINANIIND | Diversified | Small Cap

Binani Inds Share Price

16.50 0.38 2.36%
as on 12-Jul'24 16:01

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Binani Industries stock performance -

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P/E Ratio (SA):
Market Cap:
51.8 Cr.
52-wk low:
52-wk high:

Is Binani Industries Ltd an attractive stock to invest in?

1. Is Binani Industries Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Binani Industries Ltd is a below average quality company.

2. Is Binani Industries Ltd undervalued or overvalued?

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

3. Is Binani Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Binani 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 Binani 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.
Binani Industries 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

ROCE % 7.1%3.5%1.6%1.1%0.9%-25.4%-99.8%-71.4%5.1%2,017.3%-
Value Creation

Growth Parameters

Growth Parameters Colour Code Guide

Sales 12146.6261159372.
Sales YoY Gr.--61.4%459.2%-39%-76.7%-93.7%-60.3%-25%82.6%19.1%-
YoY Gr.--34.8%23.3%-72.7%-105.4%NANANANANA-
BVPS (₹) 979.3802707.6709.9720.6312.124.2-11.8-28.6-59.6-61.5
Adj Net
Cash Flow from Ops. -12.734.9-44.2-14.9-15.80.1-18.8-24.9-54.7-1-
Debt/CF from Ops. -13347-38.8-114.4-108.4479.9-5.1-3.5-1.7-172.6-


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -38.6%-47.3%17.7%19.1%
Adj EPS -212.2%NANANA
Share Price -18.5% -1.5% 44.2% -1.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on
Equity %
Op. Profit
Mgn %
Net Profit
Mgn %
Debt to
Working Cap
Cash Conv.

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 3.10%

Sales growth is growing at healthy rate in last 3 years 17.70%

Sales growth is not so good in last 4 quarters at -100.00%

Latest Financials - Binani Industries Ltd.

Standalone Consolidated
TTM EPS (₹) -1.9 -2.3
TTM Sales (₹ Cr.) 0 0
BVPS (₹.) -61.5 -61.9
Reserves (₹ Cr.) -224 -226
P/BV -0.27 -0.27
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 13.22 / 21.12
All Time Low / High (₹) 5.43 / 408.00
Market Cap (₹ Cr.) 51.8
Equity (₹ Cr.) 31.4
Face Value (₹) 10
Industry PE 98.6

Management X-Ray of Binani Inds:

Shareholding Pattern

Promoter's Holding & Share Pledging

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

Event Update

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Analyst's Notes

Key Ratios of Binani Inds

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Operating Expenses 132.1154.76198.46115.39-4.1315.0816.548.877.5896.01
Manufacturing Costs12.526.26214.82123.5110.290.490.
Material Costs006.7410.8215.0700000
Employee Cost 29.5114.188.659.106.763.482.551.781.461.45
Other Costs 90.0834.32-31.75-28.03-36.2511.1113.746.906.0494.47
Operating Profit -11.46-8.1662.1443.5841.11-12.75-15.62-8.18-6.32-94.52
Operating Profit Margin (%) -9.5%-17.5%23.8%27.4%111.2%-548.0%-1,701.9%-1,191.5%-500.0%-6,312.9%
Other Income 300.51206.576.8524.916.0815.7024.358.489.060.91
Interest 268.18184.5949.9052.4951.132.692.903.113.363.62
Depreciation 1.271.772.211.700.850.740.420.360.260.16
Exceptional Items 00000-1,614.51-3.54000
Profit Before Tax 19.6012.0516.8814.30-4.79-1,614.981.87-3.17-0.88-97.39
Tax 00-2.253.630.26158.80104.69000
Profit After Tax 19.6012.0519.1310.67-5.05-1,773.79-102.83-3.17-0.88-97.39
PAT Margin (%) 16.2%25.9%7.3%6.7%-13.7%-76,311.5%-11,201.1%-461.0%-70.0%-6,505.0%
Adjusted EPS (₹)
Dividend Payout Ratio (%)45%74%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)

Equity and Liabilities

Shareholders Fund 2,898.442,493.602,219.612,226.612,260.33978.9676.04-36.97-89.64-187.04
Share Capital 29.62149.6231.3831.3831.3831.3831.3831.3831.3831.38
Reserves 2,868.832,343.992,188.232,195.222,228.95947.5844.66-68.35-121.02-218.43
Minority Interest0000000000
Long Term Debt361.06449.31513.39462.47417.7135.7438.6041.6945.020
Short Term Debt1,265.671,192.731,182.041,182.041,182.6233.4756.2445.6448.76173.52
Trade Payables22.7917.09116.68107.9599.4290.1430.5912.4711.8910.56
Others Liabilities 127.66251.80461.32483.26561.40-71.3228.4627.1526.6822.51
Total Liabilities 4,675.634,404.544,493.044,462.344,521.481,066.98229.9389.9642.7119.55

Fixed Assets

Gross Block19.5618.4868.3662.3362.4419.5115.0210.2710.590
Accumulated Depreciation10.5911.8820.6316.7517.6011.4710.706.937.020
Net Fixed Assets8.976.6047.7445.5844.858.054.323.333.570
CWIP 000.800.470.470.030000
Investments 4,444.954,188.604,254.184,221.864,302.76878.83155.0448.420.050.04
Trade Receivables37.1930.5059.3035.7428.317.970.191.370.540.01
Cash Equivalents 11.0236.8414.493.421.692.343.172.592.360.30
Others Assets173.50141.99116.55155.26143.40169.7767.2134.2536.2019.20
Total Assets 4,675.634,404.544,493.044,462.344,521.481,066.98229.9389.9642.7119.55

Cash Flow

(All Figures are in Crores.)
Cash Flow From Operating Activity -12.6934.94-44.20-14.92-15.790.14-18.79-24.93-54.68-1.01
PBT 19.6012.0516.8814.30-4.79-0.475.41-3.17-0.88-97.39
Adjustment -11.08-6.69-0.72-17.39-1.26-8.343.02-1.75-51.8991.35
Changes in Working Capital -7.7832.64-56.06-9.11-8.5611.22-27.21-20.02-1.915.03
Tax Paid -13.43-3.06-4.31-2.71-1.18-2.270000
Cash Flow From Investing Activity -80.30-26.1326.3419.5617.21-1.41-2.7732.6651.76-2.33
Capex -0.530.020.0714.94-0.115.54-0.24350.02-2.38
Net Investments 0031.1011.520.53-3.070051.780
Others -79.77-26.15-4.84-6.8916.80-3.88-2.54-2.34-0.040.05
Cash Flow From Financing Activity 92.2217.01-7.75-7.64-2.852.2122.74-7.933.101.31
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -156.97-44.14-6.91-3.58-1.330-0.04-0.04-0.03-0.02
Dividend Paid -8.74-8.74-1.84-0.32-0.31-0.30-0.34-0.38-0.41-0.03
Others 257.9369.891-3.74-1.212.5123.12-7.523.551.36
Net Cash Flow -0.7725.82-25.62-2.99-1.420.941.18-0.200.18-2.03
ROE (%)1.270.460.830.48-0.22-109.52-19.49N/AN/AN/A
ROCE (%)9.324.511.651.71.17-64.240.78N/AN/AN/A
Asset Turnover Ratio0.
PAT to CFO Conversion(x)-0.652.9-2.31-1.4N/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days84265631093162,8481,62141427666
Inventory Days0000000000
Payable Days003,6223,7912,51200000

Binani Industries Ltd Stock News

Binani Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Binani Inds on 12-Jul-2024 16:01 is ₹16.50.
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 12-Jul-2024 16:01 the market cap of Binani Inds stood at ₹51.75.
The latest P/E ratio of Binani Inds as of 12-Jul-2024 16:01 is 0.00.
The latest P/B ratio of Binani Inds as of 12-Jul-2024 16:01 is -0.27.
The 52-week high of Binani Inds is ₹21.12 and the 52-week low is ₹13.22.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Binani Inds is ₹0.00 ( Cr.) .

About Binani Industries Ltd

Binani Industries, a Braj Binani Group company, was established on February 25,1941.The business portfolio of Binani Industries includes sectors like cement, zinc, glass-fiber and downstream composite products.The company was re-christened as Binani Industries Limited in 1996, reflecting its status as a multi-divisional, multi-product and multi-locational company driven by technology and professionalism.

The Braj Binani Group is a well-diversified industrial house with a 138-year history behind it. The group is actively working in the core sectors of Cement, Zinc, Glass Fibre and Downstream Composite Products. Working in complete synergy across verticals, across the world. By understanding the needs of an evolving world, the Braj Binani Group is charting a path to the future

Binani’ is now consolidating on its enviable track record, with over one and a quarter century of success behind it.

It was in the turbulent times of 1872 when the ancestors of Binani, Seth Pragdas and Seth Mathuradas Binani, ventured into the trading of non-ferrous metals. Later on, the son of Seth Mathuradas, Seth Govardhandas, a man of profound vision, saw great potential in manufacturing rather than just trading in non-ferrous metals.

Binani Metal Works Limited, in collaboration with Multicore Solders, UK, came into being in 1941. The plant was set up in Howrah, West Bengal to produce non-ferrous alloys, cad, castings, powders and solder wires.

Trading operations, the forte of Binani, was also growing stronger. An Antimony Smelter joint venture in Bombay was set up under the name of Binani Metal Works Ltd.

It was in the early 50s that Binani ventured into the international market by establishing a trading and indenting house for non-ferrous metals in London.

Binani Metal Works Limited went public for the first time in 1953. In 1962 Binani entered into a collaboration with the world leaders in the field of non-ferrous metals, Cominco Limited Canada, to form Cominco Binani Zinc Ltd., thus becoming the first producer of primary zinc in India.

In 1967, ‘Binani’ crossed a milestone in the world zinc industry by pioneering the manufacture of high-grade electrolytic zinc in India. The reigns of this expanding business was held by Late Ghanshyam Binani, the only son of Seth Govardhandas Binani. His individual expertise and time-honed skills steered the organisation towards many more milestones.

In the span of 1970s-80s Cominco Binani Zinc Ltd. upgraded its technology to be at par with the latest in the world. It also became the first plant in the country to commence production of special high-grade electrolytic zinc with 99.995% purity.

In 1983 Binani Metals Ltd. was formed merging Binani Metal Works.

By 1991, the company, having surged to a production capacity of 38,000 tonnes per annum of zinc and zinc based products, was re-christened as Binani Zinc Ltd. In 1997, the company diversified into the manufacture of cement by establishing Binani Cement Ltd. This pivotal move laid the foundation for the company’s most successful decade. One that also saw the company diversify into the manufacture of glass fibre. The mantle of responsibility passed on to Braj Binani, who following the footsteps of his father, Late Ghanshyam Binani, has successfully carried forward the family tradition of growth and excellence, and is today heading the ‘Binani – Braj Binani Group’.

The group has come a long way from trading to production of zinc to the manufacture of glass fibre and cement, taking on new challenges and preparing itself to make the most of global opportunities.

The company has different subsidiaries:

  • Binani  Zinc- Binani was the first in India to have a custom zinc smelter for manufacture of electrolytic zinc. Since its inceptions in the sixties, Binani Zinc has constantly been modernising and upgrading its technology in step with global advances. Binani Zinc has won several laurels for its various efforts in environment management and energy conservation.
  • Binani Cement- Binani Cement has been working in this core sector from 1997. Growing from strength to strength to become a leading cement manufacturer in Northern India. By employing cutting-edge technologies and world-class manufacturing practices. Binani Cement has established itself as one of the top companies in the industry in terms of efficiency and performance.
  • Goa Glass Fibre- Glass fibre reinforcements are a designer’s delight for its superior strength to weight properties, easy usage and versatility. Braj Binani Group diversified into the production of glass fibre in 1996. Being the first and foremost Indian company to export glass fibre, Goa Glass Fibre Limited currently exports over 70% of its production to 26 countries across five continents.
  • BT Composites - Logical diversification for the group with the success of Glass Fibre was the establishment of BT Composites Ltd. This company focusses on the downstream development of Glass Fibre. Using new-age glass reinforced material, it manufactures a whole array of products, and makes the most of its proximity to raw material.

Product portfolio of the company includes:

Non-ferrous alloys, Cad, Castings, powders and solder wires, Leasing, investments in stocks and securities and Real estate investment, Cement, Glass, Zinc, Fibre.

Milestones achieved:


  • Binani Metal Works Limited founded on 25th of February, 1941 near Howrah, in Kolkata by the Founder Chairman Late Seth Govardhandas Binani
  • The company entered into collaboration with Metal Distributors Limited and its trading activities in India expanded and grew stronger


  • Binani’s sets up its establishments in London, UK, for international trading, indenting of non-ferrous metals, investments, leasing and other activities
  • The company went public for the first time in 1953


  • Binani earned recognition as the largest importer and distributor of non-ferrous metals in the country


  • In 1962 Binani entered into a technical and financial collaboration with Cominco Limited Canada to form Cominco Binani Zinc Limited and created history becoming the first Indian company to manufacture primary high-grade electrolytic zinc in India in 1967
  • It was the first Indian company to manufacture high-grade electrolytic zinc at Binanipuram, Kerala in 1967


  • By leveraging technology and keeping up with a burgeoning market, Binani Zinc Limited successfully increased its capacity from 12 kty to 20 kty


  • Binani Zinc Limited further upgraded its technology with assistance from M/s. Lurgi, Germany
  • Binani Zinc Limited commenced production of special high-grade electrolytic zinc ingots with 99.995% purity


Cominco Limited carted off its financial support from its operations in alignment with their world policy. Cominco Binani Zinc was re-christened as Binani Zinc Limited on 3rd

March 1991

  • Diversification was necessary for growth and hence two sectors were identified - Glass Fibre and Cement
  • Two Public Issues, one in February 1994 and the other in February 1995, were undertaken to raise funds for the implementation of new projects. Both the issues were oversubscribed.
  • The company was re-christened as Binani Industries Limited in 1996 reflecting its status as a multi-divisional, multi-product and multi-locational company driven by technology and professionalism
  • In 1995 Binani Zinc entered into collaboration with M/s U.M. Engineering Limited to adopt its state-of-the-art technology and increased its capacity to 30 kty
  • The Glass Fibre Division of Binani Industries Limited commenced commercial production at Colvale, Goa in March 1996 and was then the single largest glass fibre plant in India
  • Binani Cement Limited commenced commercial production in November 1997 at Pindwara, Rajasthan
  • The Cement division was hived off in November 1997 and transferred to Binani Cement Limited as a wholly owned subsidiary
  • Goa Glass Fibre Limited received an ISO 9002 accreditation from Bureau Veritas Quality International Certification, UK in 1998
  • Binani Glass Fibre was hived off and transferred to Goa Glass Fibre Limited on 1st October 1998 as a wholly owned subsidiary of BIL
  • Binani Cement Limited received an ISO 9002 and ISO 14001 Certification from KPMG in January 1999 and October 1999 respectively


  • Binani Zinc Limited received an ISO 14001 and an ISO 9001:2000 Certification from Bureau Veritas Quality International for their Environment Management System and Quality Management System respectively

Binani Zinc Limited has adopted the '5s' housekeeping management practice and tagged it with the international accreditation ISO 14001:1996. In April 2001, voluntary commitment to quality was demonstrated by getting the international accreditation on quality ISO 9001:2000. Leveraging people potential, Binani Zinc Limited became the first company in the manufacturing sector to go for international accreditation.

ITC CII Sustainability Award 2009.
Greentech Environment Excellence Gold Award 2009
Indian Institute of Metals - Non-Ferrous Best Performance Award, 2009.
National Safety Award (Runner-up) 2010
The prestigious National Safety Council (I) Safety Awards-2011
National ASSOCHAM CSR Excellence Award 2012.

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