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BSE: 533270 | NSE: BEDMUTHA | Steel & Iron Products | Small Cap
1. Is Bedmutha Industries Ltd a good quality company?
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bedmutha Industries Ltd is a below average quality company.
2. Is Bedmutha Industries Ltd undervalued or overvalued?
The key valuation ratios of Bedmutha Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
3. Is Bedmutha Industries Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Bedmutha Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | 4.8% | 2.2% | -2.9% | 1% | -8.8% | -5.7% | -7% | 65.5% | 8.4% | 10% | - | ||
| Value Creation Index ⓘ | -0.7 | -0.8 | -1.2 | -0.9 | NA | NA | NA | 3.7 | -0.4 | -0.3 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 222 | 321 | 500 | 699 | 604 | 491 | 360 | 388 | 660 | 687 | 737 | ||
| YoY Gr. Rt. % | - | 44.9% | 55.7% | 39.6% | -13.6% | -18.8% | -26.7% | 7.9% | 70.1% | 4% | - | ||
| Adj EPS ⓘ | 1.3 | -3.9 | -19 | -14.8 | -33.7 | -29 | -29.3 | 60.7 | 2.6 | 3.7 | 5.1 | ||
| YoY Gr. Rt. % | - | -393.3% | NA | NA | NA | NA | NA | NA | -95.7% | 40.2% | - | ||
| BVPS (₹) ⓘ | 59.2 | 57.2 | 43.2 | 26.1 | -7.3 | -36.2 | -65.2 | 24.3 | 27.2 | 31.1 | 33.3 | ||
| Adj Net Profit ⓘ | 2.8 | -8.3 | -39.9 | -36.2 | -82.7 | -71.1 | -71.9 | 196 | 8.5 | 11.9 | 17 | ||
| Cash Flow from Ops. ⓘ | 38.9 | 29.4 | -10.9 | 29.6 | 7.7 | 22.7 | 77.3 | 58.3 | 70.8 | 72.3 | - | ||
| Debt/CF from Ops. ⓘ | 4.7 | 8.5 | -30.6 | 13.4 | 62.6 | 22.4 | 6.5 | 5.3 | 3.9 | 3.5 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 13.4% | 2.6% | 24.1% | 4% | ||||||||
| Adj EPS ⓘ | 12% | NA | NA | 40.2% | ||||||||
| BVPSⓘ | -6.9% | NA | NA | 14.4% | ||||||||
| Share Price | 31.1% | 45.2% | 92.3% | 126.1% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | 2.2 | -6.6 | -37.2 | -46.1 | -358.4 | 133.3 | 57.8 | -481.4 | 10.2 | 12.7 | 15.9 | |
| Op. Profit Mgn % ⓘ | 8.1 | 5.1 | 2.8 | 4.2 | -4.7 | -0.2 | -0.4 | -4.3 | 2.5 | 2.4 | 3.2 | |
| Net Profit Mgn % ⓘ | 1.3 | -2.6 | -8 | -5.2 | -13.7 | -14.5 | -20 | 50.5 | 1.3 | 1.7 | 2.2 | |
| Debt to Equity ⓘ | 1.5 | 2.1 | 3.7 | 6.2 | -26.9 | -5.7 | -3.2 | 3.9 | 3.1 | 2.5 | 1.4 | |
| Working Cap Days ⓘ | 241 | 193 | 158 | 138 | 169 | 201 | 248 | 206 | 139 | 153 | 147 | |
| Cash Conv. Cycle ⓘ | 36 | 34 | 28 | 23 | 24 | 24 | 62 | 58 | 22 | 16 | 43 | |
Return on Equity has increased versus last 3 years average to 15.90%
Sales growth is growing at healthy rate in last 3 years 24.05%
Debt to equity has declined versus last 3 years average to 2.51
Sales growth is good in last 4 quarters at 10.33%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.1 | 5.4 |
| TTM Sales (₹ Cr.) | 737 | 737 |
| BVPS (₹.) ⓘ | 33.3 | 33.2 |
| Reserves (₹ Cr.) ⓘ | 75 | 75 |
| P/BV ⓘ | 4.50 | 4.51 |
| PE ⓘ | 29.29 | 27.94 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 46.70 / 167.55 |
| All Time Low / High (₹) | 6.80 / 286.90 |
| Market Cap (₹ Cr.) | 484 |
| Equity (₹ Cr.) | 32.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 26.2 |
| Pledged * | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 | 95.06 |
Bedmutha Industries was incorporated in the year August 23, 1990. Earlier, the name of the company was Bedmutha Wire Company that was later changed to its present name and a fresh Certificate of Incorporation was obtained from Registrar of Companies, Maharashtra on November 18, 2009. Kachardas R. Bedmutha is the founder of the company.
The company started its commercial production in the year 1992 by setting up its first galvanized wire plant at Nashik with an installed capacity of 3600 MTPA. Over the years, the company enhanced its capacity from 3600 MTPA to 25300 MTPA by setting up three more galvanizing lines at the existing location. The company operates in four manufacturing units in and around Nashik, which are strategically located in proximity to the source of raw materials and markets.
Range of products:
The company offers a wide range of wire and wire products that are approved by the Bureau of Indian Standards, Power Grid Corporation and state electricity boards. Two of the plants -- galvanized wires and manufacturing binding wire, PC wire and spring steel wire -- are certified under ISO 9001 from Bureau Veritas Certification (India) Private Limited.
Following are its products:
Galvanized wires, cable armour wires, ACSR wires , wire nails, earth wires, stay wires, spring steel wires, barbed wires, etc. The products are used in various areas such as roads, bridges, flyovers, power, automobile, engineering, agriculture, railways and defence.
Subsidiaries:
Kamalasha Infrastructure & Engineering Private Limited (KIEPL) is the subsidiary company, which is been promoted for implementation of turnkey contracts for infrastructure namely in power, roads, railways, etc. KIEPL has been awarded a sub-contract of Rs 60 crore in the Dharangaon Division by Maharashtra State Electricity Distribution Company Limited (MSEDCL). This subsidiary offers a direct synergy in terms of consuming GI wire, stay wire from its wire unit and also offers an indirect synergy by consuming PSC poles, cables, conductors which consumes wire produced by the company.
The company has also invested 49% in Ashoka Pre-con Private Limited (APPL) in the year 2008 along with Ashoka Buildcon Limited, to manufacture pre stress concrete products such as cement poles, RCC pipes, cement, piles, railway sleepers, etc. APPL has commenced commercial production and has begun supplying electrical cement poles for the infra projects launched by MSEDCL. This investment offers a direct synergy in terms ofconsuming GI Wire, MS Wire and PC Wire from its wire unit.
Milestone Achieved:
Future Plans:
The company is also pursuing initiatives for setting up galvanizing plant with latest technology with capacity of 48000 TPA and manufacturing of aluminum rods and conductors with capacity of about 42000 TPA.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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