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IMEC Services Ltd. Stock Analysis

Small Cap
Evaluated by 68 users | BSE: 513295 | NSE: RUCHISTRIP |
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Ruchi Strips & Alloys (RSAL), an ISO 9001:2000 & ISO 14001:2004 certified Ruchi Group company was set up in 1991 for manufacturing of cold rolled steel coils & sheets. The company has been promoted by Ruchi Soya Industries Limited (RSIL) Madhya Pradesh Audyogite Vikas Nigam Limited...

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'09Mar'10Sep'11Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 1.7%8.61%18.06%8.3%-1.24%0.22%-66.31%2.53%-7.8%2.13%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 55266967236927622733.315.50.51.2
Y-o-Y Gr. Rt.-21.1%0.5%-45.1%-25.3%-17.7%-85.3%-53.5%-96.7%133.3%
Adjusted EPS (Rs.) -4.020.050.860.02-0.170.01-4.030.01-0.050.01
Y-o-Y Gr. Rt.-NA1620%-97.7%-950%NA-40400%NA-600%NA
Book Value per Share (Rs.) 5.297.547.727.8811.7811.790.360.630.580.35
Adjusted Net Profit -11.80.24.30.1-0.90.1-20.20.1-0.20.1
Net Op. Cash Flow (Rs. Cr.) -21.215.658.55.7-0.23.40.50.6-1.30
Debt to Cash Flow from Ops -4.295.090.030.12-7.3900000
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.
IMEC Services Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -49.5%-66.3%-67.1%133.3%
Adjusted EPS NANANANA
Book Value per Share -26.1-50.5-0.9-39.7
Share Price -24.2% -27% -16.1% -35.3%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'09Mar'10Sep'11Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) -21.290.248.910.26-1.450.09-66.332.53-7.872.09
Operating Profit Margin (%) 0.53.443.271.39-0.010.070.020.08-49.8447.28
Net Profit Margin (%) -2.140.030.640.03-0.310.02-60.530.41-46.894.13
Debt to Equity 4.121.750.040.020.0200000
Working Capital Days 132123593830281813616,837763
Cash Conversion Cycle 27261820227-6-5,073-2,124
Entity Percentage Holding
Promoters 30.17%
Institutions 0.16%
Non-Institutions 69.67%
Pledged *63.3363.3363.3363.3355.4055.4055.400.0065.9865.98
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of IMEC Services's performance infers:

IMEC Services earnings have grown by 0%, whereas share price has depreciated -27% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of IMEC Services share prices over the last 10 years. Here is what we found out:

IMEC Services share price has depreciated -23.1% annually over the past ten years.

Ruchi Strips & Alloys (RSAL), an ISO 9001:2000 & ISO 14001:2004 certified Ruchi Group company was set up in 1991 for manufacturing of cold rolled steel coils & sheets. The company has been promoted by Ruchi Soya Industries Limited (RSIL) Madhya Pradesh Audyogite Vikas Nigam Limited (MPAVM) and others.

The Ruchi Group comprises of 17 companies in seven business sectors under different sectors in which they operate; besides there are two promoter companies of the group.

RSAL

Ruchi Strips & Alloys (RSAL), an ISO 9001:2000 & ISO 14001:2004 certified Ruchi Group company was set up in 1991 for manufacturing of cold rolled steel coils & sheets. The company has been promoted by Ruchi Soya Industries Limited (RSIL) Madhya Pradesh Audyogite Vikas Nigam Limited (MPAVM) and others.

The Ruchi Group comprises of 17 companies in seven business sectors under different sectors in which they operate; besides there are two promoter companies of the group.

RSAL now is a complete complex with all the manufacturing facilities of different types & grades of cold rolled steel with installed capacity of 1,00,000 TPA. RSAL manufactures a wide range of low carbon, medium carbon & special grade CR products, in thickness ranging from 0.11mm to 2.50mm & up to a maximum width of 1020mm.

RSAL manufactures cold rolled full hard (CRFH) coils as per international standards, suitable for manufacturing of galvanized sheets of different applications. Cold rolled closed annealed steel (CRCA) coils & sheets of international standards, suitable for automobile application. Cold rolled non-oriented electrical steel (CRNO) as per international standards, delivered in semi processed condition.

RSAL has facility for slitting & shearing of coils to make available tailor-made cut-to-length batch as per customer specification.The significant quantity out of RSAL’s production is exported to various countries. RSAL is also a Government of India recognized export house.

Product range of the company includes:

Cold Rolled RSAL manufactures a wide range of low carbon ,mild steel CR products, in thickness ranging from 0.11 mm to 2.50 mm & up to a maximum width of 1020 mm, both in coil & sheet form.

RSAL is also one of the few Indian manufactures of  ultra thin 0.11,0.14 mm CR Coil extensively used for galvanizing.RSAL CR Coils & sheets are known for their close gauge tolerances, superior finish & perfect flatness, free of stretcher strains. They are offered in bright and matt finish, in annealed or full hard temper. Major grades manufactured are O,D,DD & EDD of non-ageing ,critical & super EDD CRCA, automobile structural grades, TMBP, galvanizing grades, porcelain enameling, corrosion resistance grade.

RumagRumag is cold rolled non-grain-oriented semi-processed steel,specially designed for fractional and low horsepower motor manufacturing. It comes in two major variants-- unalloyed(Rumag) and alloyed(Rumag-A). Within the two categories they produce steel in most internationally accepted specifications. They can also customise their products to specific requirements of customers, whenever their standard products do not suit the manufacturing requirements.

The advantages of unalloyed and low-silicon alloyed steels lay in the high degree of magnetisability of these steels. The high magnetic quality of these materials have considerably influenced the production of compact high performance electric machines. Rumag conforms to European standard EN 10126 and EN 10165.

RufilRufil is a specially processed CR Coils with thickness range 0.35mm to 0.70mm. It is surface finish of  light matt  with roughness value of 0.50 micron to 0.90 micron. The steel is processed to meet automobile filter, to take up heavy draw. RSAL have a market share of 35% with automobile filter manufacturer for the segment.

Achievements/ recognition:

  • ISO 9001:2000.
  • ISO 14001:2004.
  • RSAL is also one of the few Indian manufactures of  ultra thin 0.11,0.14 mm CR Coil extensively used for galvanizing. RSAL CR Coils & sheets are known for their close gauge tolerances, superior finish & perfect flatness, free of stretcher strains.
  • RSAL is a Government of India recognized export house.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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