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JSW Ispat Special Products Ltd Stock Analysis

Small Cap
Evaluated by 745 users | BSE: 513446 | NSE: JSWISPL |
Steel & Iron Products
Monnet Ispat & Energy was incorporated on February 1,1990. A Monnet group company, it is engaged in the business of sponge iron, steel ingot & billets and coal mining.Monnet Ispat Ltd has an excellent manufacturing setup for sponge iron, steel billets & ingots. It also has a...

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.
JSW Ispat Special Products Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 7.77%6.25%4.36%2.5%-1.68%-11.31%-11.71%-11.93%-67.15%-7.44%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,5731,8971,9572,2773,1861,8271,2381,3831,8792,638
Y-o-Y Gr. Rt.-20.6%3.2%16.3%39.9%-42.7%-32.2%11.7%35.9%40.4%
Adjusted EPS (Rs.) 44.2844.8138.178.88-95.73-85.41-84.25-79.33-75.6-10.33
Y-o-Y Gr. Rt.-1.2%-14.8%-76.7%-1178%NANANANANA
Book Value per Share (Rs.) 324.87366.87404.78404.8279.9329.49-57.08-153.330.9220.45
Adjusted Net Profit 28528824358.4-630-1,715-1,692-1,593-3,550-485
Net Op. Cash Flow (Rs. Cr.) -25.3301298203409629270-28.1-196-197
Debt to Cash Flow from Ops -105.6713.6219.6733.7919.5112.0731.45-304.48-11.19-13.28
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.
JSW Ispat Special Products Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 5.9%-3.7%28.7%40.4%
Adjusted EPS -185.1%NANANA
Book Value per Share -26.5-40.70-33.9
Share Price -27.3% 6.4% -0.8% 99.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 15.1412.969.512.09-25.95-131.41610.8575.42645.45-28.02
Operating Profit Margin (%) 28.6125.2424.4617.464.32-19.38-6.354.490.17-1.5
Net Profit Margin (%) 18.1115.212.432.57-19.78-93.85-136.63-115.14-188.87-18.39
Debt to Equity 1.281.742.132.413.9612.82-7.41-2.781.111.76
Working Capital Days 247263311292169202297349219147
Cash Conversion Cycle 4973104102573341677479
Entity Percentage Holding
Promoters 74.35%
Institutions 14.89%
Non-Institutions 10.76%
Pledged *0.0024.3624.3624.3624.3624.3624.3624.3624.3624.36
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of JSW Ispat Special Products Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that JSW Ispat Special Products Ltd is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of JSW Ispat Special Products Ltd's performance infers:

JSW Ispat Special Products Ltd earnings have grown by 0%, whereas share price has appreciated 6.4% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of JSW Ispat Special Products Ltd share prices over the last 10 years. Here is what we found out:

JSW Ispat Special Products Ltd share price has appreciated -26% annually over the past ten years.

Monnet Ispat & Energy was incorporated on February 1,1990. A Monnet group company, it is engaged in the business of sponge iron, steel ingot & billets and coal mining.

Monnet Ispat Ltd has an excellent manufacturing setup for sponge iron, steel billets & ingots. It also has a coal mining division and has now diversified into power generation for captive consumption.

The success story of Monnet Ispat Limited started with the commissioning of 1 lac tonne per annum (TPA)

Monnet Ispat & Energy was incorporated on February 1,1990. A Monnet group company, it is engaged in the business of sponge iron, steel ingot & billets and coal mining.

Monnet Ispat Ltd has an excellent manufacturing setup for sponge iron, steel billets & ingots. It also has a coal mining division and has now diversified into power generation for captive consumption.

The success story of Monnet Ispat Limited started with the commissioning of 1 lac tonne per annum (TPA) sponge iron plant set up at one-fourth the cost of similar plants. The indigenous technology used in setting up this plant enables Monnet to produce sponge iron of excellent Quality matching with the product of other plants set up using highly capital intensive foreign technology. With the addition of a second Rotary Kiln, Monnet has ensured augmentation of a capacity to 2.30 lac TPA. Additionally two rotary kilns each of 35000 TPA were comissioned in second half of 2003.

The plant is located in Raipur, Chattisgarh state, close to the source of its main raw materials -- iron ore and coal. In future to increase its competitive edge, Monnet has entered into mining of coal and iron ore from captive mines.

Monnet has come a long way in a very short span of time. It views human resource as the company's most valuable asset, much more valuable than the other factors of productions i.e. money, materials and machinery. A product can be duplicated, technology is available for a price, but human being are non-duplicable. In the 21st century, the human resource is going to be the competitive advantage of any company, be it in the manufacturing or the service sector. A customer driven company, we at Monnet, are as much concerned about our external customers as we are about our internal customers.

Product range of the company includes:

Sponge iron, steel and ferro alloys. In addition, the Group is engaged in mining of coal and power generation for captive consumption.

Monnet Ispat & Energy has bought back 1.28 million shares at an average price of Rs 141.52 per share.The buyback begun on Dec 8, 2008 and closed effective May 22.The total amount invested in the buyback was Rs 182.03 million, which is 24.27% of the maximum offer size authorised by the buyback.

In 2011 Monnet Ispat & Energy Limited acquired Indonesian Coal Company.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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