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Bhuwalka Steel Industries Ltd Stock Analysis

Small Cap
Evaluated by 30 users | BSE: 513333 | NSE: BUWALKASTL |
Steel & Iron Products

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'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Sep'13Mar'14Mar'15TTM
Return on Capital Employed 9.47%8.9%10.63%2.52%8.1%11.26%9.63%11.4%-4.84%-2.48%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 477481518492458528639568336393213
Y-o-Y Gr. Rt.-0.8%7.8%-5.1%-6.8%15.2%21%-11%-40.8%16.7%-
Adjusted EPS (Rs.) 2.11.443.49-8.061.753.18-2.14-1.94-37.19-5.64-12.36
Y-o-Y Gr. Rt.--31.4%142.4%-331%NA81.7%-167.3%NANANA-
Book Value per Share (Rs.) 20.0424.3926.6818.9120.9224.0921.9614.967.697.05-5.48
Adjusted Net Profit 2.21.53.6-8.41.83.3-2.2-2-38.6-5.9-13
Net Op. Cash Flow (Rs. Cr.) 16.6-9.230.723.72.32035.7-42.968.8-66.2-
Debt to Cash Flow from Ops 4.52-9.553.34.7753.366.953.66-3.345.74-3.55-
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.
Bhuwalka Steel Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  10 yrs 5 yrs 3 yrs 1 yr
Net Sales -2.1%-3.1%-15%16.7%
Adjusted EPS -211.6%-226.4%NANA
Book Value per Share -11-19.6-31.5-8.3
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Sep'13Mar'14Mar'15TTM
Return on Equity (%) 10.636.2612.6-31.137.6112.41-8.2-11.51-114.56-66.08-1,574.52
Operating Profit Margin (%) 3.053.164.411.324.125.334.184.67-6.1-3.53-14.04
Net Profit Margin (%) 0.460.310.7-1.70.40.62-0.35-0.35-11.47-1.49-6.02
Debt to Equity 3.553.33.515.435.435.35.448.7838.0527.62-
Working Capital Days 50646473101998775424182403
Cash Conversion Cycle 3038433528404046338142-
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Entity Percentage Holding
Promoters 70.94%
Institutions 0.06%
Non-Institutions 29.00%
Pledged *84.5784.5784.5784.5784.5784.5784.5784.5784.5784.57
* Pledged shares as % of Promoter's holding (%)
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Bhuwalka Steel Industries (BSIL) was established in 1981, and is now one of the largest manufacturers of steel rolled products in south India with plants at Bangalore, Kanchipuram and Mumbai. The foundation of the company was laid by Suresh Kumar Bhuwalka, the chief promoter of the group. The group is today one of the fastest growing group in secondary steel sector in the country. Operating at the leading edge of technology, BSIL is a licensee of Hennigdorfer Stahl Engineering Gmbh, Germany

Bhuwalka Steel Industries (BSIL) was established in 1981, and is now one of the largest manufacturers of steel rolled products in south India with plants at Bangalore, Kanchipuram and Mumbai. The foundation of the company was laid by Suresh Kumar Bhuwalka, the chief promoter of the group. The group is today one of the fastest growing group in secondary steel sector in the country. Operating at the leading edge of technology, BSIL is a licensee of Hennigdorfer Stahl Engineering Gmbh, Germany for the manufacture of Thermex Thermo Mechanically treated (TMT) Reinforcement Bars. The first company in South India to obtain this advanced technology, Bhuwalka TMT Re-Bars help bring world class steel to the construction and infrastructure development industries in the region.

It is one of the largest manufacturers of steel rolled products in south India with plants at Bangalore Kanchipuram and Mumbai. Listed on Mumbai and Bangalore Stock exchanges, BSIL has a turnover of over Rs 550 crore and is among the fastest growing steel companies in India. The core competence in steel remains the guiding spirit at Bhuwalka helping it to meet the needs of infrastructure and civil / housing construction sector manufacturing Reinforcement Bars And Structurals.

The clients of the company include Indian Railways, state electricity boards, L&T, infrastructure projects and infrastructure institutions.

The group’s product range includes TMT Bars, Angels, Channels, Beams, Flats, Square, Rounds, etc, The turnover of the group today stands at over Rs 5500 million. The corporate and registered office of the group is in Bangalore, the garden city of India.

The core competence in steel remains the guiding spirit at Bhuwalka helping it to meet the needs of infrastructure and civil/housing construction sector manufacturing reinforcement bars and structurals. The products are manufactured as per the Indian Standard which is equivalent to most of the International Standrads.

Products of the company includes : TMT Bars, MS Angle, MS Square, MS Beam, MS Channel, MS Flat, MS Round, Gate Channel, T Angle.

Group companies:

Bhuwalka Steel Industries Ltd. -  It is India’s one of the largest manufacturer of Mild steel Rolled Products. The company was incorporated in 1981 and commenced its commercial production in 1983. The products include TMT Bars under Thermex, Technology, Angles, Channels, Beams, Squares, Rounds, Flats, etc, manufactured in the following units located in different parts of India, with a capacity to roll 2,00,000 Metric Tonnes per Annum.

Nava Karntaka Steels Pvt.ltd- This is an integrated steel plant with a capacity to manufactures 30000 Mts M.S Billets and 27000 Mts Rolled Products Per Annum.

Bhuwalka Trade Links Pvt Ltd- This company is the trading arm of the group which trades in Steel Rolled Prodcuts and other allied products

Bhuwalka Steel Industries (UAE) FZE (a wholly owned subsidiary) - This company has been incorporated in Humriyah Free Zone, Sharjah, UAE.

Recent development

Bhuwalka Steel Industries has entered into Joint Development Agreement (JDA) with Soul Space Realty Ltd (a B.L. Kashyap Group Company) in May 2008 for joint development of its Bangalore property where presently a TMT mill was situated. As per the JDA, the existing unit will be relocated to Bellary.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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