ISMT Ltd - Stock Valuation and Financial Performance

BSE: 532479 | NSE: ISMTLTD | Steel & Iron Products | Small Cap

ISMT Share Price

86.93 1.19 1.39%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on ISMT

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

ISMT stock performance -

mw4me loader
P/E Ratio (SA):
20.46
Market Cap:
2,612.3 Cr.
52-wk low:
68.1
52-wk high:
112.2

Is ISMT Ltd an attractive stock to invest in?

1. Is ISMT Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that ISMT Ltd is a average quality company.

2. Is ISMT Ltd undervalued or overvalued?

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

3. Is ISMT Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of ISMT 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 ISMT:

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.
ISMT Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -1.5%-2.4%-7.9%-4.8%-3%-1.5%-4.3%-19.7%223.7%6.7%-
Value Creation
Index
-1.1-1.2NANANANANANA15.0-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,5611,5059921,1621,4901,8251,3041,2352,1532,5612,650
Sales YoY Gr.--3.6%-34.1%17.2%28.2%22.5%-28.5%-5.3%74.3%19%-
Adj EPS -10.6-14.3-23.9-19.1-16.7-14.8-16.7-24.2853.14.3
YoY Gr.-NANANANANANANANA-96.4%-
BVPS (₹) 20.84.7-18.4-37.9-54.1-69.6-85.8-109.440.944.348.3
Adj Net
Profit
-155-209-351-280-244-216-245-3552,55593.2128
Cash Flow from Ops. 79.168-275-92.53242.411835.599.794.3-
Debt/CF from Ops. 19.124.3-7.5-23.568.451.51858.820.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.7%11.4%25.2%19%
Adj EPS NANANA-96.4%
BVPS8.8%NANA8.3%
Share Price 22.9% 61.9% 100.2% 18.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-39-71.8-326.1135.45230.72628.7150266.96.49.2
Op. Profit
Mgn %
5.62.31.23.75.16.26.1-1.52.88.613.3
Net Profit
Mgn %
-9.9-13.9-35.4-24.1-16.4-11.8-18.8-28.7118.73.64.8
Debt to
Equity
523.9-7.6-3.9-2.8-2.1-1.7-1.30.20.1-
Working Cap
Days
162164241229178126159161867959
Cash Conv.
Cycle
676510094766610297464135

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 25.23%

Return on Equity has declined versus last 3 years average to 9.20%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 7.46%

Latest Financials - ISMT Ltd.

Standalone Consolidated
TTM EPS (₹) 4.3 5.4
TTM Sales (₹ Cr.) 2,650 2,665
BVPS (₹.) 48.3 48.1
Reserves (₹ Cr.) 1,300 1,295
P/BV 1.80 1.81
PE 20.46 16.08
From the Market
52 Week Low / High (₹) 68.10 / 112.24
All Time Low / High (₹) 2.00 / 140.00
Market Cap (₹ Cr.) 2,612
Equity (₹ Cr.) 150.3
Face Value (₹) 5
Industry PE 25.1

Management X-Ray of ISMT:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *96.7596.7530.590.000.000.000.000.000.020.02
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,5611,5059921,1621,4901,8251,3041,2352,1532,561
Operating Expenses 1,5411,4809801,1191,4141,7121,2251,2532,0922,340
Manufacturing Costs532465282301411531374362592691
Material Costs7478075286488129796647121,2391,375
Employee Cost 124121106111123130133123156160
Other Costs 13987635968735455106115
Operating Profit 202512437611379-1860221
Operating Profit Margin (%) 1.3%1.7%1.2%3.7%5.1%6.2%6.1%-1.5%2.8%8.6%
Other Income 1611121010710501820
Interest 1842352802692752762742621321
Depreciation 102727263595463616055
Exceptional Items 4650-4506-186-582,494-8
Profit Before Tax -205-221-373-280-241-229-242-3512,500157
Tax -34090-10-2014361
Profit After Tax -170-221-382-280-240-229-240-3512,35797
PAT Margin (%) -10.9%-14.7%-38.5%-24.1%-16.1%-12.5%-18.4%-28.4%109.5%3.8%
Adjusted EPS (₹)-11.6-15.1-26.1-19.1-16.4-15.6-16.4-23.978.53.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 304279-64-350-589-819-1,062-1,4121,4161,515
Share Capital 7373737373737373150150
Reserves 231205-137-423-663-892-1,135-1,4861,2661,365
Minority Interest0000000000
Debt1,2031,4261,7421,6831,4681,3331,1831,06420275
Long Term Debt7399678206254022751676600
Short Term Debt4644589221,0591,0661,0581,01699820275
Trade Payables590477218129102100106130213207
Others Liabilities 6475205839941,3821,7752,1222,475145234
Total Liabilities 2,7452,7012,4792,4562,3622,3882,3492,2571,9752,031

Fixed Assets

Gross Block2,0422,2682,2901,9842,0002,3102,3552,3562,3732,085
Accumulated Depreciation7286987707778369511,0141,0731,1301,103
Net Fixed Assets1,3151,5701,5191,2071,1651,3601,3421,2831,244982
CWIP 25851723612419
Investments 5353531911932002001426457
Inventories472410331323334341379352424470
Trade Receivables372176188195225295238285304328
Cash Equivalents 1291193348524455385027
Others Assets379366349475392147129145-114147
Total Assets 2,7452,7012,4792,4562,3622,3882,3492,2571,9752,031

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 7968-275-9232421183510094
PBT -205-221-373-280-241-229-242-3512,500157
Adjustment 277248373338333356333356-2,42595
Changes in Working Capital 842-275-151-67-85243025-111
Tax Paid -2-1-1070400-47
Cash Flow From Investing Activity -4511-80-6-249-134
Capex -56-6-7-11-3-7-17-16-1130
Net Investments 00000-7-1000
Others 1188239-625105
Cash Flow From Financing Activity 3-65234-27-15-40-97-43-81-151
Net Proceeds from Shares 000000004770
Net Proceeds from Borrowing 000-4000000
Interest Paid -174-217-148-22-17-16-12-5-11-21
Dividend Paid 0-10-1-1-10000
Others 17715338303-23-85-37-546-129
Net Cash Flow 385-40-12817-3-2217-22
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-42.88-118.33N/AN/AN/AN/AN/AN/A07.55
ROCE (%)-1.180.82N/AN/AN/AN/AN/AN/A262.6312.6
Asset Turnover Ratio1.020.890.530.60.831.060.740.751.561.99
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/AN/A0.040.97
Working Capital Days
Receivable Days50414847393856553329
Inventory Days63679881604975774341
Payable Days95788754423657615149

ISMT Ltd Stock News

ISMT Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of ISMT on 28-Mar-2024 16:01 is ₹86.93.
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 28-Mar-2024 16:01 the market cap of ISMT stood at ₹2,612.3.
The latest P/E ratio of ISMT as of 28-Mar-2024 16:01 is 20.46.
The latest P/B ratio of ISMT as of 28-Mar-2024 16:01 is 1.80.
The 52-week high of ISMT is ₹112.2 and the 52-week low is ₹68.10.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ISMT is ₹2,650 ( Cr.) .

About ISMT Ltd

The Indian Seamless Metal Tubes Limited (ISMT) was promoted in 1977 by a group of technocrats to produce specialized seamless tubes in India. Beginning with an installed capacity of 15,000 metric tons per annum, ISMT commenced production in 1980 with the installation and commissioning of an Assel mill in technical collaboration with Mannesman Demag Meer of Germany.

Subsequently, in 1990 the production capacity was raised to 50,000 metric tons per annum with the addition of a second Assel Mill. In 1995, the Indian Seamless Metal Tubes Limited promoted another company, Indian Seamless Steels and Alloys Ltd. (ISSAL), to produce alloy Steel, the raw material used in the manufacture of seamless tubes, giving ISMT better control over product quality as well as deliveries.

Business area of the company

ISMT is predominantly engaged in the manufacturing of specialty alloy and bearing Steel. The end user segments are largely Bearing, Automotive, Engineering and Forging Customers apart from some customers requiring steel for specialized application. The fortunes of the specialty and alloy steel products is closely linked to automotive and auto component industry.

Milestones

  • 1977: Indian Seamless Metal Tubes was incorporated.
  • 1980: The company started commercial production of specialized seamless tubes.
  • 1988: Taneja Aerospace & Aviation was incorporated. 
  • 1989: Indian Seamless Steels & Alloys was incorporated. 
  • 1994: Taneja Aerospace & Aviation received its first certification of airworthy flight/ commercial production. Indian Seamless Steels & Alloys started its commercial production.
  • 1999: Kalyani Seamless Tubes was merged with Indian Seamless Metal Tubes. 
  • 2005: Indian Seamless Metal Tubes and Indian Seamless Steels and Alloys Ltd were merged to form ‘ISMT’.
  • 2007: ISMT acquired a 100% stake in Structo Hydraulic AB, Sweden.
  • 2022: ISMT acquired by Kirloskar Ferrous Industries Limited.
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