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Bihar Sponge Iron Ltd Stock Analysis

Small Cap
Evaluated by 74 users | BSE: 500058 | NSE: BIHARSPONG |
Steel/Sponge Iron/Pig Iron
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...

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
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed -17.08%-17%-38.32%-34.91%-20.41%-29.03%-10.46%-0.69%11.28%-12.05%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 16717112119.1000000
Y-o-Y Gr. Rt.-2.5%-29.7%-84.2%-100%NA-100%NANANA
Adjusted EPS (Rs.) -2.65-2.3-2.89-1.89-0.82-0.65-0.36-0.050.09-0.09
Y-o-Y Gr. Rt.-NANANANANANANANA-200%
Book Value per Share (Rs.) -3.71-6.01-8.9-10.86-13.09-13.74-14.15-14.17-14.18-14.27
Adjusted Net Profit -23.9-20.7-26.1-17-7.4-5.9-3.3-0.50.8-0.8
Net Op. Cash Flow (Rs. Cr.) -14.919-0.5-1.7-0.4-0.8-2.80.4-0.21
Debt to Cash Flow from Ops -5.533.73-148.5-59.58-236.44-120.04-46.86251.96-534.4696.79
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.
Bihar Sponge Iron Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -100%NANANA
Adjusted EPS NANANA-200%
Book Value per Share 0000
Share Price -7.8% 4.8% 22.6% 744.4%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -84.36-586.3116.7436.4411.017.363.860.53-0.930.93
Operating Profit Margin (%) -7.57-4.65-15.81-63.570-10547.70000
Net Profit Margin (%) -14.26-12.08-21.62-89.120-16869.540000
Debt to Equity -2.47-1.31-0.92-1.03-0.86-0.79-1.03-0.74-0.74-0.72
Working Capital Days 1039911343701,38,1020000
Cash Conversion Cycle 343112-10067,4870000
Entity Percentage Holding
Promoters 69.61%
Institutions 0.74%
Non-Institutions 29.65%
Pledged *51.7651.7651.7651.7651.7651.7651.7651.7651.7651.76
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Bihar Sponge Iron Ltd's performance infers:

Bihar Sponge Iron Ltd earnings have grown by 0%, whereas share price has appreciated 4.8% 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 Bihar Sponge Iron Ltd share prices over the last 10 years. Here is what we found out:

Bihar Sponge Iron Ltd share price has appreciated -11.1% annually over the past ten years.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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