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BSE: 533482 | NSE: KRIDHANINF | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kridhan Infra Ltd is a below average quality company.
The key valuation ratios of Kridhan Infra Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Kridhan Infra Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 4% | 3.8% | 3.1% | 2.7% | 1.2% | -63.5% | -6.8% | -1.2% | 217% | 5.1% | - |
| Value Creation Index ⓘ | -0.7 | -0.7 | -0.8 | -0.8 | -0.9 | -5.5 | -1.5 | -1.1 | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 37.7 | 80.3 | 57.1 | 72.4 | 88 | 59.6 | 18.8 | 27.4 | 16.8 | 3.5 | 2 |
| Sales YoY Gr. | - | 113% | -28.9% | 26.8% | 21.6% | -32.3% | -68.5% | 45.9% | -38.9% | -79.4% | - |
| Adj EPS ⓘ | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | -15.9 | -1.3 | -0.3 | -13.1 | -1.5 | -0.7 |
| YoY Gr. | - | 35.7% | -10.5% | -23.5% | -30.8% | -17777.8% | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 10.6 | 11 | 11.7 | 13 | 31.1 | 14.8 | 14.1 | 13.3 | -29.4 | -34.7 | -33.8 |
| Adj Net Profit ⓘ | 0.9 | 1.3 | 1.3 | 0.9 | 0.9 | -151 | -12.1 | -3.2 | -124 | -14.5 | -7 |
| Cash Flow from Ops. ⓘ | -10.9 | -4.2 | -4.6 | -2 | -91.8 | -5.4 | 3.3 | -5.1 | -0.7 | 1.1 | - |
| Debt/CF from Ops. ⓘ | -1.7 | -3.6 | -3.2 | -8.9 | -0.1 | -3.3 | 5.5 | -3.8 | -33.1 | 17.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -23.3% | -47.7% | -43.2% | -79.4% | ||||
| Adj EPS ⓘ | -230.4% | -276.2% | NA | NA | ||||
| BVPSⓘ | -214.1% | -202.2% | -235.1% | NA | ||||
| Share Price | -21.4% | -33.7% | 8.2% | 63.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.4 | 1.7 | 1.6 | 1 | 0.4 | -67.7 | -8.7 | -2.4 | 162 | 4.8 | 2 |
| Op. Profit Mgn % ⓘ | 10.2 | 4.8 | 5 | 3.9 | 7.6 | 17 | -3.5 | 0.4 | -2.3 | 27 | 75.6 |
| Net Profit Mgn % ⓘ | 2.3 | 1.6 | 2.3 | 1.3 | 1 | -252.9 | -64.6 | -11.5 | -739.2 | -420.1 | -330.2 |
| Debt to Equity ⓘ | 0.3 | 0.2 | 0.2 | 0.2 | 0 | 0.1 | 0.1 | 0.2 | -0.1 | -0.1 | - |
| Working Cap Days ⓘ | 501 | 216 | 375 | 396 | 515 | 739 | 1,431 | 730 | 610 | 844 | 72 |
| Cash Conv. Cycle ⓘ | 283 | 131 | 198 | 201 | 163 | 183 | 593 | 380 | 265 | 0 | -4,278 |
No data to display
Return on Equity has declined versus last 3 years average to 2.00%
Sales growth has been subdued in last 3 years -43.16%
Sales growth is not so good in last 4 quarters at -64.85%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.7 | -2.3 |
| TTM Sales (₹ Cr.) | 2 | 2.1 |
| BVPS (₹.) ⓘ | -33.8 | -37.4 |
| Reserves (₹ Cr.) ⓘ | -339 | -374 |
| P/BV ⓘ | -0.14 | -0.13 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1.95 / 7.68 |
| All Time Low / High (₹) | 1.10 / 142.00 |
| Market Cap (₹ Cr.) | 44.6 |
| Equity (₹ Cr.) | 19 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 26.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 37.69 | 80.29 | 57.08 | 72.38 | 88.01 | 59.62 | 18.79 | 27.41 | 16.75 | 3.45 |
| Operating Expenses ⓘ | 33.85 | 76.44 | 54.21 | 69.56 | 81.37 | 52.08 | 19.46 | 27.31 | 17.14 | 2.52 |
| Manufacturing Costs | 0.45 | 0.02 | 0 | 0.01 | 0 | 0 | 0 | 0.21 | 0.12 | 0.01 |
| Material Costs | 32.15 | 75.01 | 53.05 | 67.61 | 78.92 | 46.94 | 17.94 | 26.12 | 16.14 | 1.38 |
| Employee Cost | 0.86 | 0.76 | 0.44 | 0.98 | 1.44 | 1.15 | 0.63 | 0.28 | 0.23 | 0.28 |
| Other Costs ⓘ | 0.38 | 0.64 | 0.71 | 0.96 | 1.02 | 3.99 | 0.89 | 0.70 | 0.65 | 0.85 |
| Operating Profit ⓘ | 3.84 | 3.85 | 2.87 | 2.83 | 6.63 | 7.54 | -0.68 | 0.10 | -0.39 | 0.93 |
| Operating Profit Margin (%) | 10.2% | 4.8% | 5.0% | 3.9% | 7.5% | 12.7% | -3.6% | 0.4% | -2.3% | 27.0% |
| Other Income ⓘ | 1.72 | 1.80 | 2.13 | 2.05 | 4.16 | 2.83 | 2.38 | 1.56 | 1.31 | 0.75 |
| Interest ⓘ | 3.43 | 3.08 | 2.40 | 2.73 | 2.25 | 1.73 | 2.14 | 2 | 3.10 | 0.03 |
| Depreciation ⓘ | 0.88 | 0.88 | 0.89 | 0.90 | 0.84 | 0.78 | 0.68 | 0.78 | 2.54 | 0.54 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -6.41 | -160.72 | -11 | -6.56 | -400.51 | -51.11 |
| Profit Before Tax ⓘ | 1.25 | 1.69 | 1.71 | 1.25 | 1.30 | -152.86 | -12.11 | -7.68 | -405.23 | -50 |
| Tax ⓘ | 0.39 | 0.44 | 0.42 | 0.31 | 0.46 | -0.27 | 0.05 | 0.07 | -1.05 | 0.27 |
| Profit After Tax | 0.86 | 1.25 | 1.30 | 0.94 | 0.84 | -152.59 | -12.16 | -7.75 | -404.18 | -50.27 |
| PAT Margin (%) | 2.3% | 1.6% | 2.3% | 1.3% | 1.0% | -255.0% | -64.7% | -28.3% | -2,413.0% | -1,457.1% |
| Adjusted EPS (₹) | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | -16.1 | -1.3 | -0.8 | -42.6 | -5.3 |
| Dividend Payout Ratio (%) | 71% | 108% | 92% | 158% | 227% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 64.99 | 74.34 | 86.57 | 96.21 | 295.09 | 140.52 | 133.42 | 125.67 | -278.51 | -328.78 |
| Share Capital ⓘ | 12.32 | 13.56 | 14.82 | 14.82 | 18.96 | 18.96 | 18.96 | 18.96 | 18.96 | 18.96 |
| Reserves ⓘ | 52.67 | 60.78 | 71.75 | 81.39 | 276.13 | 121.56 | 114.46 | 106.71 | -297.47 | -347.74 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 15.90 | 12.96 | 13.40 | 17.97 | 7.73 | 17.67 | 17.85 | 19.20 | 21.50 | 20.44 |
| Long Term Debt | 4.24 | 1.62 | 0.07 | 0.04 | 0.03 | 0.03 | 0.02 | 0.01 | 0 | 0 |
| Short Term Debt | 11.66 | 11.34 | 13.33 | 17.93 | 7.70 | 17.64 | 17.84 | 19.19 | 21.50 | 20.44 |
| Trade Payables | 3.61 | 1.59 | 8.52 | 9.68 | 1.11 | 9.02 | 3.83 | 6.07 | 5.19 | 1.68 |
| Others Liabilities ⓘ | 8.81 | 10.27 | 5.28 | 24.53 | 12.73 | 39.98 | 48.10 | 29.88 | 333.37 | 367.14 |
| Total Liabilities ⓘ | 93.32 | 99.16 | 113.77 | 148.39 | 316.66 | 207.18 | 203.20 | 180.82 | 81.55 | 60.48 |
Fixed Assets | ||||||||||
| Gross Block | 18.92 | 21.27 | 21.89 | 32.47 | 32.56 | 28.18 | 32.25 | 32.22 | 29.86 | 27.30 |
| Accumulated Depreciation | 3.28 | 4.16 | 5.05 | 5.95 | 6.72 | 5.77 | 6.24 | 7.03 | 9.39 | 9.93 |
| Net Fixed Assetsⓘ | 15.64 | 17.11 | 16.83 | 26.52 | 25.85 | 22.41 | 26.01 | 25.19 | 20.47 | 17.37 |
| CWIP ⓘ | 2.35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 30.56 | 30.56 | 30.56 | 30.56 | 132.34 | 99.40 | 113.19 | 109.13 | 51.02 | 36.52 |
| Inventories | 11.36 | 14.22 | 10.09 | 10.14 | 1.05 | 3.41 | 0.38 | 0.66 | 0 | 0 |
| Trade Receivables | 19.65 | 17.51 | 31.62 | 46.95 | 33.47 | 33.51 | 38.60 | 27.19 | 6.76 | 3.96 |
| Cash Equivalents | 1.06 | 0.32 | 0.40 | 0.39 | 0.88 | 1.59 | 0.52 | 0.39 | 0.21 | 0.48 |
| Others Assetsⓘ | 12.70 | 19.44 | 24.27 | 33.83 | 123.07 | 46.87 | 24.51 | 18.26 | 3.09 | 2.15 |
| Total Assets ⓘ | 93.32 | 99.16 | 113.77 | 148.39 | 316.66 | 207.18 | 203.20 | 180.82 | 81.55 | 60.48 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -10.88 | -4.15 | -4.56 | -2.03 | -91.79 | -5.38 | 3.26 | -5.08 | -0.65 | 1.14 |
| PBT ⓘ | 1.25 | 1.69 | 1.71 | 1.25 | 1.30 | -152.86 | -12.11 | -7.68 | -405.23 | -50 |
| Adjustment ⓘ | 2.97 | 2.39 | 1.16 | 1.57 | -2.78 | 157.27 | 11.45 | 7.80 | 404.97 | 51.61 |
| Changes in Working Capital ⓘ | -14.93 | -8.04 | -7.08 | -4.73 | -90.23 | -9.79 | 3.92 | -5.2 | -0.39 | -0.47 |
| Tax Paid ⓘ | -0.18 | -0.19 | -0.35 | -0.13 | -0.08 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 3.12 | 1.57 | 1.51 | 1.32 | -98.34 | -0.13 | -2.43 | 5.62 | 1.27 | 0.34 |
| Capex | -0.27 | 0 | -0.62 | -0.74 | -0.17 | -0.14 | -4.29 | 4.07 | -0.14 | 0 |
| Net Investments | -0.93 | 0 | 0 | 0 | -101.78 | 0 | 0 | 0.02 | 0.20 | 0.31 |
| Others ⓘ | 4.31 | 1.57 | 2.13 | 2.05 | 3.60 | 0.01 | 1.86 | 1.53 | 1.21 | 0.03 |
| Cash Flow From Financing Activityⓘ | 8.44 | 1.85 | 3.13 | 0.70 | 190.62 | 6.23 | -1.91 | -0.66 | -0.81 | -1.20 |
| Net Proceeds from Shares ⓘ | 16.08 | 8.49 | 8.53 | 0 | 204.59 | -0.09 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -3.61 | 0 | 0 | 0 | 0 | 0 | 0.23 | 0 | 0 | 0 |
| Interest Paid ⓘ | -3.43 | -3.08 | -2.40 | -2.73 | -2.25 | -1.73 | -2.14 | -2 | -3.10 | -0.03 |
| Dividend Paid ⓘ | -0.59 | -0.62 | -1.45 | -1.17 | -1.48 | -1.89 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -2.94 | -1.55 | 4.61 | -10.24 | 9.94 | 0 | 1.34 | 2.29 | -1.17 |
| Net Cash Flow ⓘ | 0.68 | -0.74 | 0.08 | -0.01 | 0.49 | 0.72 | -1.08 | -0.12 | -0.19 | 0.28 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.47 | 1.8 | 1.61 | 1.03 | 0.43 | -70.06 | -8.88 | -5.98 | N/A | N/A |
| ROCE (%) | 5.75 | 5.27 | 4.22 | 3.7 | 1.68 | -64.15 | -6.34 | -3.84 | N/A | N/A |
| Asset Turnover Ratio | 0.37 | 0.83 | 0.54 | 0.55 | 0.38 | 0.23 | 0.09 | 0.14 | 0.13 | 0.05 |
| PAT to CFO Conversion(x) | -12.65 | -3.32 | -3.51 | -2.16 | -109.27 | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 250 | 84 | 157 | 198 | 167 | 205 | 701 | 438 | 370 | 567 |
| Inventory Days | 114 | 58 | 78 | 51 | 23 | 14 | 37 | 7 | 0 | 0 |
| Payable Days | 84 | 13 | 35 | 49 | 25 | 39 | 131 | 69 | 127 | 909 |
Readymade Steel India (RMS) was incorporated on March 21, 2006 under Companies Act, 1956 in Maharashtra. It is an ISO 9001:2008 certified steel service provider with an installed capacity of 27,000 MTPA and also one of the pioneers of introducing the concept of readymade steel products in the country. The company currently operates from its plant located at Khopoli, Raigad district, Maharashtra. The plant consists of automated shear lines, bending lines, cutting lines, automated stirrup machines etc. and is supported by other material handling equipments. Anil Agrawal is the founder promoter of the company and has more than a decade of experience in steel industry. The current staff strength is 36 which include qualified and experienced professionals.
The major customers of company are infrastructure developers and contractors. The company, since last few years, is successfully obtaining orders from major construction companies like Larsen & Toubro Limited, Nagarjuna Constructions Company Limited, etc. to supply ready to use steel products for their construction needs. It has supplied steel products to Mumbai Mono Rail Project, Sahar Elevated Access Road, Mumbai, Nasik Elevated Corridor, Palais Royale, Mumbai etc.
The company's products find their application in all kinds of construction activities spanning across bridges, mono rail, metro rail, airports, malls, hotels, buildings, factories etc. These products are processed from iron and steel products such as re-bars fulfilling domestic and international design requirements. The company intends to add more value added products, like the welded steel mesh, standard stirrups etc., this will enable it to become a one stop solution provider to all the reinforcement needs of the customers.
The company is now expanding business both in terms of productive capacity and geographical reach by expanding the existing facility at Khopoli and setting-up additional facilities near New Delhi and Raipur respectively. With this expansion, the existing capacity at Khopoli will be increased from 27,000 MTPA to 90,000 MTPA and proposed new facilities near New Delhi and Raipur will be having capacity of 50,000 MTPA each. Since company offers niche and relatively new product in India it faces limited competition.
Products
Stirrups (Cut & Bend)
The cutting and bending of steel is one of the most important aspects in any kind of construction or infrastructure projects. This could be done on site manually and conventionally, it is done as such. The traditional method, though, may result in inaccurate dimensions and improperly bent bars. The company’s skilled operators, work in an organised and controlled setup which results in consistently superior quality products. Reinforcement bars of various diameters (normally ranging from 6 mm to 40 mm) are cut and bent as per the bar bending schedule.
Prefabricated Cages
Prefabricated cages are made by piecing together rebars and stirrups as per the structural drawings. Two connecting cages are aligned on ground before installation. This ensures that the cages fit perfectly during installation.
Projects
Group Companies
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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