Kalyani Steels Ltd - Stock Valuation and Financial Performance

BSE: 500235 | NSE: KSL | Steel & Iron Products | Small Cap

Kalyani Steels Share Price

857.90 -4.30 -0.50%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Kalyani Steels

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Kalyani Steels stock performance -

mw4me loader
P/E Ratio (SA):
14.64
Market Cap:
3,727.1 Cr.
52-wk low:
285.1
52-wk high:
1,077.7

Is Kalyani Steels Ltd an attractive stock to invest in?

1. Is Kalyani Steels Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kalyani Steels Ltd is a good quality company.

2. Is Kalyani Steels Ltd undervalued or overvalued?

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

3. Is Kalyani Steels Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kalyani Steels Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Kalyani Steels:

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.
Kalyani Steels Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.1%15.4%16%17%12.6%13.5%16.8%16.7%16.1%11.1%-
Value Creation
Index
0.00.10.10.2-0.10.00.20.20.2-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1161,2271,1801,2571,3451,4071,1991,1881,7061,8991,916
Sales YoY Gr.-10%-3.8%6.5%7%4.6%-14.8%-0.9%43.6%11.3%-
Adj EPS 15.520.527.634.525.927.734.742.655.743.758.3
YoY Gr.-32%34.7%24.9%-25%7.1%25.3%22.5%30.8%-21.5%-
BVPS (₹) 91.1109135160.8179.8204220.8264.4313.2341.2373.5
Adj Net
Profit
67.889.5121151113121152186243191255
Cash Flow from Ops. 39.311416115219128625762.4263-126-
Debt/CF from Ops. 5.31.921.60.90.102.71.7-4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.1%7.2%16.6%11.3%
Adj EPS 12.2%11%8%-21.5%
BVPS15.8%13.7%15.6%8.9%
Share Price 30.9% 31.9% 40.6% 195.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1820.522.623.315.214.416.417.519.313.416.3
Op. Profit
Mgn %
12.714.420.822.915.115.118.222.219.914.720
Net Profit
Mgn %
6.17.310.2128.48.612.715.614.210.113.3
Debt to
Equity
0.50.50.60.30.2000.20.30.3-
Working Cap
Days
139141133152156133137137129150141
Cash Conv.
Cycle
3538506573727257679787

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.57%

Return on Equity has declined versus last 3 years average to 16.30%

Net Profit has been subdued in last 3 years 7.96%

Sales growth is not so good in last 4 quarters at 1.65%

Latest Financials - Kalyani Steels Ltd.

Standalone Consolidated
TTM EPS (₹) 58.3 55.9
TTM Sales (₹ Cr.) 1,916 1,706
BVPS (₹.) 373.5 0
Reserves (₹ Cr.) 1,609 1,346
P/BV 2.29 0.00
PE 14.64 15.27
From the Market
52 Week Low / High (₹) 285.10 / 1077.65
All Time Low / High (₹) 1.57 / 1077.65
Market Cap (₹ Cr.) 3,727
Equity (₹ Cr.) 21.8
Face Value (₹) 5
Industry PE 25.1

Management X-Ray of Kalyani Steels:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Kalyani Steels

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
Sales1,1161,2271,1801,2571,3451,4071,1991,1881,7061,899
Operating Expenses 9871,0609459701,1421,1951,0049251,3671,654
Manufacturing Costs286318317223240281226197261281
Material Costs5635854436077667896246129671,185
Employee Cost 58668354515658576065
Other Costs 8190102868568955879123
Operating Profit 129167235287203212195263339246
Operating Profit Margin (%) 11.5%13.6%19.9%22.9%15.1%15.1%16.3%22.2%19.8%12.9%
Other Income 122314171423434656
Interest 1715121097871328
Depreciation 34315252373843444649
Exceptional Items 00000120000
Profit Before Tax 89124174239175193168255326225
Tax 31416183606031658358
Profit After Tax 5983114156115132137190243167
PAT Margin (%) 5.2%6.8%9.6%12.4%8.5%9.4%11.4%16.0%14.2%8.8%
Adjusted EPS (₹)13.419.126.035.926.330.331.443.655.738.3
Dividend Payout Ratio (%)22%0%0%14%19%17%16%17%18%26%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 3984765907027858919641,1541,3671,489
Share Capital 22222222222222222222
Reserves 3764545686807638699421,1321,3461,468
Minority Interest0000000000
Debt18518226119012600168438486
Long Term Debt12715711059170018190185
Short Term Debt582515213111000150249301
Trade Payables245210145245185330315235456262
Others Liabilities 207216259225182109859295114
Total Liabilities 1,0351,0841,2551,3611,2781,3301,3641,6502,3562,351

Fixed Assets

Gross Block6447808568548929069279359571,246
Accumulated Depreciation305338368418455484508552598647
Net Fixed Assets339442488436437422418382358599
CWIP 1013055551115418
Investments 3177249234280366177144147146
Inventories171156109135112154126119218324
Trade Receivables332328346465376309236249416405
Cash Equivalents 1757243438361626974749
Others Assets13563556235354111988109
Total Assets 1,0351,0841,2551,3611,2781,3301,3641,6502,3562,351

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3911416115219128625762263-126
PBT 89124174239175193168255326225
Adjustment 454764563023388538
Changes in Working Capital -67-28-26-5449131101-13521-325
Tax Paid -28-28-51-89-62-61-51-65-88-64
Cash Flow From Investing Activity -43-107-255-38-77-117-183-226-470153
Capex -36-142-97-13-33-22-34-16-171-111
Net Investments 18-46-172-30-53-103-156-240-337214
Others -2581145997303851
Cash Flow From Financing Activity 12-1997-98-105-181-80160218-39
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -16-16-12-10-9-4-9-8-17-47
Dividend Paid -8-1500-22-26-530-33-44
Others 3612109-88-74-151-1816826852
Net Cash Flow 8-1221610-12-6-311-12
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)15.5719.0721.3224.2415.4615.7614.7917.9719.2711.69
ROCE (%)18.8621.3723.1126.819.3521.3918.7922.921.6813.32
Asset Turnover Ratio1.51.451.241.081.051.080.890.790.850.81
PAT to CFO Conversion(x)0.661.371.410.971.662.171.880.331.08-0.75
Working Capital Days
Receivable Days6778841051118983747179
Inventory Days39393332323543383652
Payable Days1271411451171038085845947

Kalyani Steels Ltd Stock News

Kalyani Steels Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kalyani Steels on 28-Mar-2024 16:01 is ₹857.9.
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 Kalyani Steels stood at ₹3,727.1.
The latest P/E ratio of Kalyani Steels as of 28-Mar-2024 16:01 is 14.64.
The latest P/B ratio of Kalyani Steels as of 28-Mar-2024 16:01 is 2.29.
The 52-week high of Kalyani Steels is ₹1,077.7 and the 52-week low is ₹285.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kalyani Steels is ₹1,916 ( Cr.) .

About Kalyani Steels Ltd

Kalyani Steels (KSL), incorporated in 1973 is a part of the over $2.1 billion Kalyani Group. KSL’s corporate headquarters are located in Pune.

It is leading manufacturer of forging and engineering quality carbon and alloy steels using the Blast Furnace route. KSL is supplier for engineering, automotive, seamless tube and primary aluminium industry.

Over the years, Kalyani Steels has been continuously upgrading its technology and infrastructure. The facilities at KSL are at par with any sophisticated steel manufacturers in the world.In 1997, the Kalyani Group set up a new plant to manufacture steel using the less power intensive mini-blast furnace route. The new facility is at Ginigera in the Hospet-Bellary region of Karnataka state, where iron ore is abundantly available. This integrated steel complex has capacity of 400,000 tpa of carbon and alloy steels, which is being expanded to 650,000 tpa.

Although the forging industry in India is the primary market for the company’s products, markets of various components for commercial vehicles, two wheelers, diesel engines, bearings, tractors, turbines and rail also form a substantial part of the company’s clientele.

The company has national and international clients like Alcan Iceland, Caterpillar Inc, Ford, Volvo, Ashok Leyland, Jindal Saw, Automobile Axles, Indian Railway and Tata Motors, among others. 

Products

KSL has earned the status of preferred steel supplier for engineering, automotive, seamless tube and primary aluminum industry.

Steels- KSL manufactures wide range of steel of different grades. It manufactures carbon alloy and special steel for automobile, oil engine manufacturing and forging sectors, seamless tubes and low electrical resistively steel for primary aluminium industry.

Pig iron- It manufactures pig iron catering to industries like steel making, casting and aluminium.

Awards/recognition

It is an ISO 9001-2000, ISO 14001 & TS 16949 :2002 certified company

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