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Bellary Steels & Alloys Ltd Stock Analysis

Small Cap
Evaluated by 76 users | BSE: 500045 | NSE: BELLARYSTL |
Steel/Sponge Iron/Pig Iron
Bellary Steels & Alloys was established in 1984 and promoted by S. Madhava for manufacturing of iron & steel installed through an arc furnace to produce ingots & billets and expanded into backward integration set up sponge iron 2*100 tpd kilns plus re-rolling mill is added for...

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
 Sep'00Mar'02Mar'03Nov'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09
Return on Capital Employed 0.34%-21.27%1.57%-2.76%-0.64%-1.84%-1.67%-2.3%-2.07%-2.69%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 25999.618.915.815.72331.131.243.635.1
Y-o-Y Gr. Rt.--61.6%-81.1%-16.6%-0.4%46.8%35.2%0.2%39.9%-19.4%
Adjusted EPS (Rs.) -0.36-2.92-0.26-1.29-0.93-1.01-1.11-1.47-1.58-1.96
Y-o-Y Gr. Rt.-NANANANANANANANANA
Book Value per Share (Rs.) 2.32-1.46-2.45-3.55-8.03-3.68-4.79-6.26-7.84-9.8
Adjusted Net Profit -17.2-155-13.7-94.5-68.2-73.6-81.1-107-116-144
Net Op. Cash Flow (Rs. Cr.) -48.6-8.8-76.9-45.2-57.2-59.9-77.2-91.8-106-124
Debt to Cash Flow from Ops -17.96-73.95-15.88-44.88-74.86-27.02-23.79-22.65-21.97-21.84
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.
Bellary Steels & Alloys Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -19.9%17.5%4.1%-19.4%
Adjusted EPS NANANANA
Book Value per Share -217.4000
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Sep'00Mar'02Mar'03Nov'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09
Return on Equity (%) -8.21-171.06-22.97-293.77106.36107.2356.2145.1233.1130
Operating Profit Margin (%) 7.09-145.38-248.83-190.86-3.790.94-12.19-11.384.06-27.89
Net Profit Margin (%) -6.64-155.89-72.67-600-435.1-320.01-260.77-344.15-265.15-408.9
Debt to Equity 4.5615.7925.27-91.96-38.14-14.57-9.56-6.95-5.62-4.84
Working Capital Days 3193426771,2742,337475262229191254
Cash Conversion Cycle 162161-612-880-1,516-343-190-201-191-177
Entity Percentage Holding
Promoters 60.95%
Institutions 0.47%
Non-Institutions 38.58%
Pledged *0.000.000.000.000.000.000.0044.8644.8644.86
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Bellary Steels & Alloys was established in 1984 and promoted by S. Madhava for manufacturing of iron & steel installed through an arc furnace to produce ingots & billets and expanded into backward integration set up sponge iron 2*100 tpd kilns plus re-rolling mill is added for value addition products.

Products manufactured by the company include:  Pig Iron - Basic grade & Foundry grade, Billets-of 130 to 160 mm square, length 9 to 12 meters, Sponge Iron ,Rounds,

Bellary Steels & Alloys was established in 1984 and promoted by S. Madhava for manufacturing of iron & steel installed through an arc furnace to produce ingots & billets and expanded into backward integration set up sponge iron 2*100 tpd kilns plus re-rolling mill is added for value addition products.

Products manufactured by the company include:  Pig Iron - Basic grade & Foundry grade, Billets-of 130 to 160 mm square, length 9 to 12 meters, Sponge Iron ,Rounds, Squares, Deformed Bars, Granulated slag from Blast  furnace, Mild Steel, Low alloy grade, Rebars, Cold Heading Quality, Electrode Quality Steel.

Projects undertaken by the company are:

Integrated Steel Plant (ISP)- Inspired by its successful performance  and  encouraged by the availability of  abundant raw material in the vicinity, BSAL has embarked upon a new venture - a most modern Integrated Steel  Plant with a  capacity of  500000  TPA having a  layout  provision to expand to 2 MTPA.  The plant is now under construction at Bellary.

Thermal Power Plant-On the site of the integrated steel plant a 1x30 MW thermal power plant is also being set up. This plant will meet the total power needs of the ISP and will utilize the blast furnace gas as fuel for its multi-fuel boilers. Coal and furnace oil  will  be  the  other  fuels. Most of the equipment are already at site and substantial progress has been made on construction work.

12 MW captive power plant-This power plant is being set up at the sponge iron plant site. It will utilize the waste heat of the kiln gases as well as burn coal and agricultural wastes as fuel. Part of the project has been already been completed & commissioned as 2.5 MW plant. The 12 MW turbo generators have been erected.

The company came up with a public issue in 1990 to part finance the cost of modernisation/expansion besides meeting the long term working capital needs. In1997 the company was granted approval to bring in foreign equity worth $39 million amounting to 35 per cent of its paid up capital through four foreign promoters.

Recent developments

The Supreme Court in April 2009 has dismissed Bellary Steels and Alloys Ltd's plea challenging market regulator SEBI's order that has debarred it from the securities market for five years. SEBI has restrained the company from trading in securities for allegedly issuing counterfeit share certificates in contravention of the SEBI Regulations, 2003.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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