Pennar Industries Ltd - Stock Valuation and Financial Performance

BSE: 513228 | NSE: PENIND | Steel & Iron Products | Small Cap

Pennar Industries Share Price

196.65 1.90 0.98%
as on 01-Nov'24 18:59

DeciZen - make an informed investing decision on Pennar Industries

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Pennar Industries stock performance -

mw4me loader
P/E Ratio (SA):
40.72
Market Cap:
2,644.3 Cr.
52-wk low:
101
52-wk high:
215

Is Pennar Industries Ltd an attractive stock to invest in?

1. Is Pennar Industries Ltd a good quality company?

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

2. Is Pennar Industries Ltd undervalued or overvalued?

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

3. Is Pennar Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Pennar Industries 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 Pennar Industries:

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.
Pennar Industries 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'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 13.6%14%15.9%27.9%16.4%12.9%6.7%9.3%11.2%13.5%-
Value Creation
Index
0.000.11.00.2-0.1-0.5-0.3-0.20.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8599039881,7502,1162,0981,5171,9952,2882,4582,480
Sales YoY Gr.-5.1%9.4%77.2%20.9%-0.9%-27.7%31.5%14.7%7.4%-
Adj EPS 1.82.32.45.14.43.6-0.72.42.54.24.8
YoY Gr.-26.4%5.3%116.9%-15.2%-17.2%-120.2%NA5.5%69.1%-
BVPS (₹) 25.727.929.239.743.74848.650.954.258.459.8
Adj Net
Profit
21.427.128.578.366.452.4-10.333.533.656.965
Cash Flow from Ops. 21.710187.21.1171198-55.5209117212-
Debt/CF from Ops. 71.91.6328.12.62.3-10.52.85.33.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.4%3%17.5%7.4%
Adj EPS 10%-0.7%NA69.1%
BVPS9.6%6%6.3%7.8%
Share Price 12.5% 48.5% 92.3% 87.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
6.67.88.116.410.57.7-1.54.74.67.58.1
Op. Profit
Mgn %
8.18.78.810.68.286.37.77.38.69.2
Net Profit
Mgn %
2.532.94.53.12.5-0.71.71.52.32.6
Debt to
Equity
0.50.60.40.60.70.60.80.80.90.9-
Working Cap
Days
182177164156181187269225216217102
Cash Conv.
Cycle
81734470103991441241171183

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.10%

Sales growth is growing at healthy rate in last 3 years 17.46%

Debt to equity has declined versus last 3 years average to 0.93

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 7.68%

Latest Financials - Pennar Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 4.8 7.6
TTM Sales (₹ Cr.) 2,480 3,115
BVPS (₹.) 59.8 66.9
Reserves (₹ Cr.) 739 835
P/BV 3.28 2.93
PE 40.72 25.69
From the Market
52 Week Low / High (₹) 101.00 / 215.00
All Time Low / High (₹) 0.32 / 215.00
Market Cap (₹ Cr.) 2,644
Equity (₹ Cr.) 67.5
Face Value (₹) 5
Industry PE 33.5

Management X-Ray of Pennar Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *2.802.802.800.000.002.802.802.812.802.80
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Pennar Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales8599039881,7502,1162,0981,5171,9952,2882,458
Operating Expenses 7908249001,5641,9461,9301,4261,8422,1212,246
Manufacturing Costs7695116249351336265293331388
Material Costs6026096791,0841,2881,2569181,2321,4761,536
Employee Cost 415162122149157131150154158
Other Costs 707044110157181112167160164
Operating Profit 69798718517016890152168212
Operating Profit Margin (%) 8.1%8.7%8.8%10.6%8.1%8.0%6.0%7.6%7.3%8.6%
Other Income 12517262018193738
Interest 262835627583797589114
Depreciation 11111223284348505656
Exceptional Items 000210020000
Profit Before Tax 33424513994621466080
Tax 121517462990111521
Profit After Tax 2127299364531344459
PAT Margin (%) 2.5%3.0%2.9%5.3%3.0%2.5%0.1%1.7%1.9%2.4%
Adjusted EPS (₹)1.82.32.46.14.23.60.12.43.34.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 334356352604665697691723731788
Share Capital 63606076767371716767
Reserves 271296292528589624620652664721
Minority Interest0000000000
Debt139182134336413398531541558673
Long Term Debt4586691011001021139998134
Short Term Debt949765235313296418442460539
Trade Payables101199272372448477446515558738
Others Liabilities 1716560200212272218276302252
Total Liabilities 7468028181,5131,7381,8441,8862,0552,1492,451

Fixed Assets

Gross Block4204353815466778879049221,0401,059
Accumulated Depreciation206219184204224266305354409453
Net Fixed Assets215217197342453621599568631607
CWIP 1082711833537610181
Investments 23726372555730543699
Inventories132165189431436438468577737794
Trade Receivables227231227403461392447424363447
Cash Equivalents 10564849365642655358
Others Assets1396086188178246247291319266
Total Assets 7468028181,5131,7381,8441,8862,0552,1492,451

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 22101871171198-55209117212
PBT 33424513994621466080
Adjustment 37394450109162133140148154
Changes in Working Capital -492810-1614-8-18834-77-1
Tax Paid 0-8-12-28-36-18-2-10-13-20
Cash Flow From Investing Activity -28-63-18-112-204-79-4-134-4-215
Capex -28-14-30-118-225-90-45-21-36-216
Net Investments 009621026-55197
Others 0-502011114-5913-7
Cash Flow From Financing Activity 311-788614-9644-79-106-14
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 839-1535122311-211334
Interest Paid -26-28-31-59-75-78-75-70-89-113
Dividend Paid 0000000000
Others 200-3210977-4010911-2965
Net Cash Flow -348-9-25-1922-16-47-18
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)7.148.388.319.4710.097.710.134.836.087.8
ROCE (%)13.5714.0315.8627.8716.3712.936.669.3411.213.5
Asset Turnover Ratio1.321.271.321.531.31.170.811.011.091.07
PAT to CFO Conversion(x)1.053.7430.012.673.74-556.152.663.59
Working Capital Days
Receivable Days808578657574101806360
Inventory Days48556064757610996105114
Payable Days6290127816675101767081

Pennar Industries Ltd Stock News

Pennar Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Pennar Industries on 01-Nov-2024 18:59 is ₹196.7.
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 01-Nov-2024 18:59 the market cap of Pennar Industries stood at ₹2,644.3.
The latest P/E ratio of Pennar Industries as of 01-Nov-2024 18:59 is 40.72.
The latest P/B ratio of Pennar Industries as of 01-Nov-2024 18:59 is 3.28.
The 52-week high of Pennar Industries is ₹215.0 and the 52-week low is ₹101.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Pennar Industries is ₹2,480 ( Cr.) .

About Pennar Industries Ltd

Pennar Industries, commenced manufacture of cold rolled Steel Strips in 1988 at Isnapur (45 km from Hyderabad) with an installed capacity of 30,000 MTPA. The company achieved profits right from the first year of its operation followed by declaration of dividend from the second year. The company increased its manufacturing capacity to 50,000 MTPA in the year 1997.  

Propelled by liberalization and globalization of the Indian economy, Pennar acquired Nagarjuna Steel Ltd., Patancheru (32 KM from Hyderabad) and Press Metal, a unit of Tube Investment(TI), at Tarapur near Mumbai.

Pennar’s fourth manufacturing facility is located at Chennai and manufactures profiles and components for the auto sector. The facility also services a steel service center.

Pennar is now a multi-location, multi-product company manufacturing cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, and road safety systems.

Products manufactured by the company include:

  • Cold Rolled Formed Profiles -Products are used in Commercial & Passenger Vehicles, Railway Coaches & Wagons, Industrial Buildings, Pollution Control Equipments and Door & Window Frames for Housing.
  • Pre-Engineered Building Systems-The system consists of elegant lattice-type portals made of cold formed profiles or portals of plate girder construction. Roofing and -cladding are made of galvanized/galvalume colour-coated steel sheet profiles as per customer’s specifications.
  • Engineered Components Division(Ecd)-Engineered Components Division Supplies various pressed steel components for the following sectors:             -Refrigeration / White Goods (Compressor Shells)              -Automobiles (Seating Systems, Rotor Cups)
  • Electro Static Precipitators (Esp)-The components include Collecting Electrodes & Discharge Electrodes.
  • Metal Crash Barrier-Pennar Industries Limited is the pioneer in the field of Road safety systems(Metal crash barriers) in India which were initially manufactured under licence from Voest Alpine Industrial Services (VAIS) Austria.
  • Cold Rolled Steel Strips(Crss)-The Cold Rolled Steel Strips Division, with facilities at Patancheru & Isnapur, has a combined annual capacity of 120,000 Metric Tons. Pennar manufactures steel strips up to 720 mm width and thickness range of 0.25 - 4.5 mm both in coil and sheet form.
  • ERW TUBES

Clientele

Major customers of the company include: TVS Motors, Electrolux, Honda Siel, Tata Motors, Eicher Motors, Alstom Power, LLOYDS, N.R Steels, L&T -ECC Division and many more.

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