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Ennore Coke Ltd Stock Analysis

Small Cap
Evaluated by 74 users | BSE: 512369 | NSE: |
Industrial Gases & Fuels
Ennore Coke Ltd.was incorporated as a public limited company on February 25, 1985 to carry out business of yarn, cloth, fibre and the business of leasing of moveable and immoveable properties. These activities were carried out till September 30, 2005.Effective December 5, 2005 the controlling...

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'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Capital Employed 01.11%13.74%11.73%7.1%-7.32%-4.99%-13.54%-27.24%-19.53%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 010138765963334546234170.12.7
Y-o-Y Gr. Rt.-NA282.9%70.3%-4%-45.5%34%-26.1%-79.5%-96.2%
Adjusted EPS (Rs.) 00.055.962.432.53-25.65-19.59-34.53-47.09-21.74
Y-o-Y Gr. Rt.-NA11820%-59.2%4.1%-1113.8%NANANANA
Book Value per Share (Rs.) 14.9818.2228.4131.5432.847.17-16.14-50.82-98-119.69
Adjusted Net Profit 00.19.23.83.9-39.8-30.4-53.5-73-33.7
Net Op. Cash Flow (Rs. Cr.) 31.5-16.948-10225.4-85.6-34.486.20.90.5
Debt to Cash Flow from Ops 0.4-5.182.16-2.0510.28-4.58-8.482.84259.83450.88
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.
Ennore Coke Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales NA-66.4%-82%-96.2%
Adjusted EPS NA-253.8%NANA
Book Value per Share -226-229.500
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Equity (%) 00.2725.578.127.87-128.24-70.53-111.25476.0249.05
Operating Profit Margin (%) 01.467.732.816.29-8.11-7.66-22.71-53.47-1195.66
Net Profit Margin (%) 00.082.390.570.62-11.54-6.58-15.69-104.16-1246.38
Debt to Equity 0.553.12.354.285.1435.33.8911.53-4.63-2.77
Working Capital Days 01651281582696225315201,21221,711
Cash Conversion Cycle 0-94-2041851551451417027,825
Entity Percentage Holding
Promoters 61.77%
Institutions 6.29%
Non-Institutions 31.95%
Pledged *53.4748.5748.5748.5748.5748.5748.5748.5748.5748.57
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Ennore Coke Ltd.was incorporated as a public limited company on February 25, 1985 to carry out business of yarn, cloth, fibre and the business of leasing of moveable and immoveable properties. These activities were carried out till September 30, 2005.

Effective December 5, 2005 the controlling interest of the company was taken over by Shriram EPC Ltd., and Vatsala Ranganathan. The new management has discontinued the above businesses of the company and has now
Ennore Coke Ltd.was incorporated as a public limited company on February 25, 1985 to carry out business of yarn, cloth, fibre and the business of leasing of moveable and immoveable properties. These activities were carried out till September 30, 2005.

Effective December 5, 2005 the controlling interest of the company was taken over by Shriram EPC Ltd., and Vatsala Ranganathan. The new management has discontinued the above businesses of the company and has now decided to enter the business of manufacturing met coke by purchasing the Proposed Coke Project from EPCPL situated at Haldia, West Bengal. 

Ennore Coke also plans to set up a power plant at the same location for generating 6 MW of power by utilizing the waste heat generated from the process of manufacturing met coke. 

The company has also proposed to expand the manufacturing capacity of the Proposed Coke Project from 100,000 TPA to 300,000 TPA and increasing the capacity of generation of power from 6 MW to 18 MW at Haldia, West Bengal.

A derivative of metallurgical coking coal, Coke plays a very significant role in metallurgical process. Coke is the main source of heat and is also the reducing agent required to facilitate the conversion of metallurgical ores into metal in the smelting process. Traditionally, major coke production has been captive. It is produced in the coke oven batteries of integrated steel plants. A number of pig iron plants and even integrated steel plants built in India recently were without coke making facilities. Hardly any surplus coke is available from the captive coke oven batteries for sale to outsiders. With the result India is importing coke sizeable quantity.

Since most coke oven batteries are located in the eastern region, coke consumers in the western and southern regions are compelled to import coke.Given the above scenario Ennore Coke has decided to manufacture Met Coke and for this purpose it has agreed to purchase the Non-recovery Coke Oven Project of 100,000 TPA of Met Coke at Haldia, West Bengal being implemented by Ennore Coke & Power Pvt. Ltd.Ennore Coke has proposed to set up a power plant of 6 MW capacity in the premises of the Met Coke project.The 25 acre land allotted to Ennore Coke is located at Mauza Alichak in the industrial hub of HDA where a number of large manufacturing units are being set up. 150 Km away from Kolkota, lying adjacent to the River Hoogly, theh plant site is strategically located and well connected by highway and railway.

The plant and machinery including fabrication, installation and commissioning of the project will be acquired on turnkey basis from the Project Management Group division of Shriram EPC Ltd., one of the promoters of Ennore Coke Ltd., Shriram EPC is well established and experienced in the engineering field for executing turnkey projects for power (renewable energy from bio-mass and wind) environmental engineering (ETP and waste water treatment plants), metallurgical sector (coke oven plant machinery), pipe rehabilitation, manufacturing of cooling towers, multi-disciplinary design, engineering, procurement, construction and service support across the various segments of engineering and chemical industries.

The technology for power plant is based on conventional STG type with the boiler of unfired type. Shriram EPC has been engaged as the EPC contractor for setting up the power plant on turnkey basis. Critical equipment like waste heat recovery boiler, steam turbine with generator will be sourced from standard vendors such as Thermax, Thermal Systems, BHEL and son on. The Company presently operates from the rented premises 304, Shivshakti Building, J. P. Road, Andheri West in Mumbai for its Registered Office matters and also operate from rented premises at 36, College Road, Nungambakkam, Chennai for planning the proposed coke project and co-ordination of such project activities. The plant site is proposed to be located at District Haldia. 
 
Business area of the company includes:
  • Met Coke - Ennore Coke Ltd.manufactures Met Coke and for this purpose it has agreed to purchase the Non-recovery Coke Oven Project of 100,000 TPA of Met Coke at Haldia, West Bengal being implemented by Ennore Coke & Power Pvt. Ltd.
  • Power- In manufacturing coke, volatile matter gets released from the raw coal in the form of gas and is burnt in the oven to produce heat for carbonization. After carbonization, the waste heat is released to the atmosphere at a very high temperature level. If such waste heat is used to generate steam, the same can be used in the steam turbine for power generation at a very low cost as it involves no raw material or use of any other fossil fuel. Ennore Coke Ltd. has proposed to set up a power plant of 6 MW capacity in the premises of the Met Coke project.


Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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