Panasonic Carbon India Company Ltd

Panasonic Carbon India Company Ltd

₹ 525 0.55%
03 Jul 2:43 p.m.
About

Incorporated in 1982, Panasonic Carbon India Company Ltd manufactures Carbon
Rods[1]

Key Points

Business Overview:[1]
Company collaborated with Panasonic Corporation for obtaining Technical know-how and assistance for manufacture and sale of Midget Electrodes (Carbon Rods). Currently, PCICL is a sole manufacturer of high standard Carbon Rods in India and a leading manufacturer of Carbon Rods in the World

  • Market Cap 252 Cr.
  • Current Price 525
  • High / Low 600 / 360
  • Stock P/E 13.6
  • Book Value 327
  • Dividend Yield 2.29 %
  • ROCE 16.6 %
  • ROE 12.3 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 37.8%

Cons

  • The company has delivered a poor sales growth of 2.54% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Earnings include an other income of Rs.10.4 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
14.97 12.98 12.34 12.07 12.57 14.30 14.32 13.46 8.04 12.60 13.20 13.02 12.49
9.32 8.45 8.82 8.99 8.93 11.19 10.91 10.31 6.88 8.79 9.54 8.91 8.73
Operating Profit 5.65 4.53 3.52 3.08 3.64 3.11 3.41 3.15 1.16 3.81 3.66 4.11 3.76
OPM % 37.74% 34.90% 28.53% 25.52% 28.96% 21.75% 23.81% 23.40% 14.43% 30.24% 27.73% 31.57% 30.10%
2.01 1.92 1.82 1.74 1.21 1.82 1.77 1.84 2.01 2.52 2.57 2.57 2.76
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.26 0.25 0.25 0.25 0.25 0.20 0.20 0.20 0.17 0.17 0.18 0.18 0.19
Profit before tax 7.40 6.20 5.09 4.57 4.60 4.73 4.98 4.79 3.00 6.16 6.05 6.50 6.33
Tax % 25.54% 25.16% 26.13% 26.26% 22.17% 26.00% 25.50% 25.68% 31.33% 25.16% 25.29% 26.00% 26.54%
5.50 4.63 3.76 3.37 3.59 3.49 3.71 3.56 2.06 4.61 4.52 4.81 4.65
EPS in Rs 11.46 9.65 7.83 7.02 7.48 7.27 7.73 7.42 4.29 9.60 9.42 10.02 9.69
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
35 35 41 49 49 44 45 45 49 50 50 51
30 29 32 34 31 32 34 30 30 35 39 36
Operating Profit 5 5 9 15 18 12 11 15 19 15 11 15
OPM % 14% 16% 22% 32% 36% 28% 25% 34% 38% 30% 22% 30%
5 5 6 6 7 7 8 8 8 7 7 10
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 1 0 0 1 1 1 1 1 1 1
Profit before tax 10 10 14 21 25 18 18 23 25 20 18 25
Tax % 33% 34% 35% 35% 34% 30% 30% 25% 26% 25% 27% 26%
7 7 9 13 16 12 12 17 19 15 13 19
EPS in Rs 13.62 14.27 19.04 28.04 33.52 25.62 25.62 35.31 39.38 31.98 26.73 38.73
Dividend Payout % 51% 49% 42% 36% 30% 39% 39% 28% 30% 38% 45% 31%
Compounded Sales Growth
10 Years: 4%
5 Years: 3%
3 Years: 2%
TTM: 2%
Compounded Profit Growth
10 Years: 11%
5 Years: 9%
3 Years: -1%
TTM: 45%
Stock Price CAGR
10 Years: 11%
5 Years: 12%
3 Years: -1%
1 Year: 41%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 11%
Last Year: 12%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 54 57 61 69 85 91 98 109 123 132 139 152
0 0 0 0 0 0 0 0 0 0 0 0
9 9 11 12 7 7 6 6 6 6 5 6
Total Liabilities 68 71 77 86 97 103 109 119 134 143 149 162
3 3 3 3 10 9 8 7 6 6 5 5
CWIP 0 0 0 0 0 0 0 0 0 0 1 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
64 67 74 83 87 93 101 112 128 137 144 158
Total Assets 68 71 77 86 97 103 109 119 134 143 149 162

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3 19 4 8 10 9 8 10 12 8 9 2
5 5 5 5 -4 -4 -2 -4 -7 -2 -5 3
-4 4 -4 -5 -6 -6 -6 -6 -5 -6 -6 -6
Net Cash Flow 4 29 5 9 1 -1 0 -1 0 1 -1 -0

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 31 35 35 24 27 22 26 27 36 38 21 27
Inventory Days 76 72 64 63 61 91 58 77 74 63 51 56
Days Payable 104 108 98 76 108 100 85 71 102 60 41 68
Cash Conversion Cycle 4 -1 1 10 -19 13 -1 33 7 41 31 14
Working Capital Days -22 -18 -16 -22 22 17 9 17 20 931 662 916
ROCE % 17% 17% 22% 30% 28% 19% 18% 21% 21% 15% 12% 17%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
63.30% 63.30% 63.30% 63.30% 63.30% 63.31% 63.29% 63.29% 63.29% 63.27% 63.27% 63.27%
36.70% 36.70% 36.70% 36.70% 36.70% 36.71% 36.71% 36.71% 36.71% 36.73% 36.73% 36.73%
No. of Shareholders 10,09611,17610,82110,66210,74610,58610,46510,33710,61810,38310,1379,980

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