Bihar Sponge Iron Ltd - Stock Valuation and Financial Performance

BSE: 500058 | NSE: BIHARSPONG | Steel/Sponge Iron/Pig Iron | Small Cap

Bihar Sponge Iron Share Price

18.82 -0.17 -0.90%
as on 11-Oct'24 16:01

DeciZen - make an informed investing decision on Bihar Sponge Iron

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Bihar Sponge Iron stock performance -

mw4me loader
P/E Ratio (SA):
16.25
Market Cap:
169.8 Cr.
52-wk low:
8.9
52-wk high:
26.8

Is Bihar Sponge Iron Ltd an attractive stock to invest in?

1. Is Bihar Sponge Iron Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bihar Sponge Iron Ltd is a below average quality company.

2. Is Bihar Sponge Iron Ltd undervalued or overvalued?

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

3. Is Bihar Sponge Iron Ltd a good buy now?

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

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.
Bihar Sponge Iron Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%0%0%0%0%0%0%0%-
Value Creation
Index
NANANANANANANANANANA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 19.100000022.186.4463322
Sales YoY Gr.--100%NA-100%NANANANA291.1%436.3%-
Adj EPS -1.9-0.8-0.7-0.4-0.10.1-0.10.50.81.31.2
YoY Gr.-NANANANANA-200%NA70.2%66.3%-
BVPS (₹) -10.9-13.1-13.7-14.2-14.2-14.2-14.3-14.6-15.5-14.7-13.4
Adj Net
Profit
-17-7.4-5.9-3.3-0.50.8-0.84.27.31210
Cash Flow from Ops. -1.7-0.4-0.8-2.80.4-0.219.923.3-15.5-
Debt/CF from Ops. -59.6-236.4-120-46.9252-534.596.88.93.8-7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 42.5%NANA436.3%
Adj EPS NANANA66.3%
BVPSNANANANA
Share Price 20.2% 101.3% 22.7% 72.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
36.4117.43.90.5-0.90.9-4.9-9.1-17.4-8.3
Op. Profit
Mgn %
-63.60-10547.70000243.53.1-3.9
Net Profit
Mgn %
-89.10-16869.5000019.18.42.63.3
Debt to
Equity
-1-0.9-0.8-1-0.7-0.7-0.7-0.7-0.6-0.8-
Working Cap
Days
43701,38,10200001581214353
Cash Conv.
Cycle
-10067,4870000-152-79-31-29

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 0.57%

Latest Financials - Bihar Sponge Iron Ltd.

Standalone Consolidated
TTM EPS (₹) 1.2 -
TTM Sales (₹ Cr.) 322 -
BVPS (₹.) -13.4 -
Reserves (₹ Cr.) -183 -
P/BV -1.40 -
PE 16.25 -
From the Market
52 Week Low / High (₹) 8.87 / 26.77
All Time Low / High (₹) 0.33 / 61.00
Market Cap (₹ Cr.) 170
Equity (₹ Cr.) 90.2
Face Value (₹) 10
Industry PE 23

Management X-Ray of Bihar Sponge Iron:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *51.9652.0552.0552.0552.0552.0552.0552.0552.0552.05
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Bihar Sponge Iron

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
Sales190000002286463
Operating Expenses 313433331783449
Manufacturing Costs60000001830
Material Costs160000001368404
Employee Cost 6122222222
Other Costs 22211111514
Operating Profit -12-3-4-3-3-3-35314
Operating Profit Margin (%) -63.6%--10,547.7%----24.0%3.5%3.0%
Other Income 3222796282
Interest 4100000000
Depreciation 3444443334
Exceptional Items -1-1011-10000
Profit Before Tax -18-7-6-400-14812
Tax 0000000000
Profit After Tax -18-7-6-400-14812
PAT Margin (%) -92.9%--16,869.5%----17.9%9.6%2.6%
Adjusted EPS (₹)-2.0-0.8-0.7-0.40.00.0-0.10.40.91.4
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 -57-77-83-87-87-87-88-84-75-63
Share Capital 90909090909090909090
Reserves -147-167-173-177-177-177-178-174-166-153
Minority Interest0000000000
Debt69696662626261555687
Long Term Debt69696662626261555687
Short Term Debt0000000000
Trade Payables201920171598148571
Others Liabilities 84838381787877797869
Total Liabilities 11694867368635865143164

Fixed Assets

Gross Block315315315315315314314314321321
Accumulated Depreciation233250254258262266269272259263
Net Fixed Assets82656157524845426157
CWIP 3333333302
Investments 0000000000
Inventories877665434264
Trade Receivables0000001200
Cash Equivalents 111071111133
Others Assets11876666143638
Total Assets 11694867368635865143164

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -20-1-30011023-16
PBT -18-7-6-400-14812
Adjustment 76432124214
Changes in Working Capital 911-2-1-10214-41
Tax Paid 000000000-1
Cash Flow From Investing Activity 10110000-18-2
Capex 00000000-18-2
Net Investments 0000000000
Others 1111000000
Cash Flow From Financing Activity 0-1-3-400-1-9-217
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 000000-1-5120
Interest Paid 0-100000-4-3-3
Dividend Paid 0000000000
Others 00-3-4000000
Net Cash Flow -1-1-3-600002-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio0.170000000.420.983.56
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/A2.52.88-1.33
Working Capital Days
Receivable Days250000002140
Inventory Days228000000468136
Payable Days46500000031426670

Bihar Sponge Iron Ltd Stock News

Bihar Sponge Iron Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bihar Sponge Iron on 11-Oct-2024 16:01 is ₹18.82.
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 11-Oct-2024 16:01 the market cap of Bihar Sponge Iron stood at ₹169.8.
The latest P/E ratio of Bihar Sponge Iron as of 11-Oct-2024 16:01 is 16.25.
The latest P/B ratio of Bihar Sponge Iron as of 11-Oct-2024 16:01 is -1.40.
The 52-week high of Bihar Sponge Iron is ₹26.77 and the 52-week low is ₹8.87.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bihar Sponge Iron is ₹322.2 ( Cr.) .

About Bihar Sponge Iron Ltd

Bihar Sponge Iron (BSIL) was incorporated on April 16, 1982. It is an Indo German venture of Modi Industries, and associates along with the Bihar State Industrial Development Corporation as Indian promoters, where as Lurgi GmbH of Frankfurt, Federal Republic of Germany and DEG-Cologne, Federal Rederal Republic of Germany as foreign promoters.

Commercial production of the company commenced in July 1989 at its sponge iron manufacturing facility at Chandil, district Singbhum in Bihar. The implementation of this massive project started in June 1986 and was completed in record time with the starting of commercial production in 1989.

Sponge Iron is used as a raw material for making steel in electric arc furnaces and induction furnaces, substituting and supplementing indigenous and imported scrap.

Modi Group is one of the select business houses in the country which has and continues to build collaborations with leading multinationals in a diverse range of activities. Whether it is sugar or rubber, tough steel or delicate threads, hi-tech computers or life saving medicines.

The Company’s principal activity is to manufacture and market sponge iron. The sponge iron is used by secondary steel producers for producing long products for meeting the demand of the construction and infrastructure sectors. Primary steel producers also use sponge iron to improve productivity and reduce the coke consumption.

BSIL is the first commercial sponge iron plant in India and is also recognised as the most efficient coal-based plant in India. The plant is located at Umesh Nagar, Chandil, in district Singhbhum, which is 30 kms from Jamshedpur. Chandil is a known backward tribal area in the state of Bihar, where the unit produces Sponge Iron from indigenous iron ore and non-coking coal available abundantly in the vicinity.

Recent development

Board for Industrial and Financial Reconstruction (BIFR) vide letter dated April 30, 2009 has withdrawn the nomination of Rishabh Jain from the Board of Directors of the Company.

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