Ashirwad Steels & Industries Ltd

₹ 32.3 3.83%

01 Apr - close price

About

Incorporated in 1986, Ashirwad Steels & Industries Ltd is in the business of lending of funds and investments in shares and securities^[1]

Key Points

Operational Status:^[1]^[2]^[3]
a) ASIL previously manufactured sponge iron and LPG gas bottles but has since disposed of all industrial units, except an inoperative LPG Bottling Plant in Raigarh, which remains commercially unviable.
b) The attempts to sell the plant have been unsuccessful, with only the freehold land holding commercial value, while the obsolete equipment is valued as scrap.
c) In FY24, ASIL started an investment and lending business, but the board has yet to identify or commence any industrial, trading, or real estate business despite ongoing efforts.
d) The company is operating as a non-banking financial institution without RBI registration.

Website BSE

Market Cap ₹ 40.4 Cr.
Current Price ₹ 32.3
High / Low ₹ 67.6 / 30.0
Stock P/E 16.3
Book Value ₹ 65.7
Dividend Yield 0.00 %
ROCE 4.08 %
ROE 2.84 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.49 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 2.89% over last 3 years.
Earnings include an other income of Rs.2.74 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.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	0.27	0.80	0.29	0.10	0.34	0.32	0.15	0.23	0.34	0.86	0.35	0.28	0.34
	0.22	1.61	0.27	0.45	0.69	0.16	0.33	0.23	0.22	0.28	0.23	0.23	0.23
Operating Profit	0.05	-0.81	0.02	-0.35	-0.35	0.16	-0.18	0.00	0.12	0.58	0.12	0.05	0.11
OPM %	18.52%	-101.25%	6.90%	-350.00%	-102.94%	50.00%	-120.00%	0.00%	35.29%	67.44%	34.29%	17.86%	32.35%
	0.75	5.73	0.92	17.05	0.69	0.62	0.64	0.70	0.69	0.78	0.70	0.67	0.59
Interest	0.00	0.01	0.02	0.01	0.00	0.00	0.01	0.00	0.05	0.01	0.02	0.00	0.00
Depreciation	0.09	0.08	0.01	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Profit before tax	0.71	4.83	0.91	16.67	0.32	0.76	0.43	0.68	0.74	1.33	0.78	0.70	0.68
Tax %	-2.82%	4.35%	18.68%	8.28%	37.50%	27.63%	32.56%	26.47%	22.97%	32.33%	23.08%	27.14%	30.88%
	0.73	4.61	0.74	15.28	0.20	0.55	0.30	0.50	0.57	0.90	0.60	0.51	0.47
EPS in Rs	0.58	3.69	0.59	12.22	0.16	0.44	0.24	0.40	0.46	0.72	0.48	0.41	0.38
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	TTM
	50.00	15.12	5.15	0.86	1.85	22.26	2.77	8.18	1.58	3.26	4.44	4.40	1.83
	49.79	16.14	7.42	2.91	2.28	22.90	7.40	10.26	3.44	2.75	1.55	1.07	0.97
Operating Profit	0.21	-1.02	-2.27	-2.05	-0.43	-0.64	-4.63	-2.08	-1.86	0.51	2.89	3.33	0.86
OPM %	0.42%	-6.75%	-44.08%	-238.37%	-23.24%	-2.88%	-167.15%	-25.43%	-117.72%	15.64%	65.09%	75.68%	46.99%
	2.29	2.79	2.99	2.83	1.91	1.77	14.73	-0.99	1.93	4.82	15.88	0.00	2.74
Interest	0.55	0.47	0.29	0.12	0.03	0.12	0.03	0.10	0.06	0.20	0.03	0.07	0.03
Depreciation	1.13	1.13	0.67	0.63	0.63	0.62	0.46	0.36	0.36	0.35	0.08	0.08	0.08
Profit before tax	0.82	0.17	-0.24	0.03	0.82	0.39	9.61	-3.53	-0.35	4.78	18.66	3.18	3.49
Tax %	3.66%	-117.65%	-50.00%	-533.33%	7.32%	-33.33%	21.75%	4.25%	-8.57%	3.14%	10.13%	29.25%
	0.80	0.37	-0.13	0.18	0.76	0.52	7.52	-3.67	-0.31	4.62	16.77	2.26	2.48
EPS in Rs	0.64	0.30	-0.10	0.14	0.61	0.42	6.02	-2.94	-0.25	3.70	13.42	1.81	1.99
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-12%
5 Years:	10%
3 Years:	41%
TTM:	76%

Compounded Profit Growth
10 Years:	20%
5 Years:	24%
3 Years:	34%
TTM:	29%

Stock Price CAGR
10 Years:	22%
5 Years:	29%
3 Years:	27%
1 Year:	-19%

Return on Equity
10 Years:	1%
5 Years:	2%
3 Years:	3%
Last Year:	3%

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	Sep 2024
Equity Capital	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50	12.50
Reserves	37.82	38.19	38.09	38.21	39.71	40.18	48.13	43.26	43.95	48.86	65.88	68.35	69.57
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.99	0.00	0.00	0.00	0.00	0.00
	5.71	3.32	2.58	2.23	1.55	2.92	1.02	1.02	0.75	0.02	0.00	0.09	0.04
Total Liabilities	56.03	54.01	53.17	52.94	53.76	55.60	61.65	58.77	57.20	61.38	78.38	80.94	82.11
	11.17	10.04	9.18	8.77	8.24	7.40	4.88	4.99	4.65	0.61	0.42	0.35	33.38
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.94	0.00	0.00	0.00	0.00
Investments	4.49	4.49	4.46	3.02	7.81	8.87	11.91	10.21	8.98	5.21	17.37	31.81	0.00
	40.37	39.48	39.53	41.15	37.71	39.33	44.86	43.57	42.63	55.56	60.59	48.78	48.73
Total Assets	56.03	54.01	53.17	52.94	53.76	55.60	61.65	58.77	57.20	61.38	78.38	80.94	82.11

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
	9.39	-4.92	3.95	-0.67	-1.46	-3.19	-8.72	3.66	-1.02	9.15	16.49	9.20
	1.82	2.68	0.84	5.32	2.01	-1.06	17.15	-16.87	3.49	11.15	-9.27	-11.37
	-10.83	-2.69	-4.27	2.89	-0.02	-0.11	-0.03	1.90	-2.05	-0.01	-0.02	-0.06
Net Cash Flow	0.38	-4.93	0.53	7.54	0.53	-4.37	8.40	-11.31	0.42	20.29	7.20	-2.23

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	11.83	49.97	3.54	0.00	0.00	30.33	65.88	39.71	48.51	0.00	0.00	0.00
Inventory Days	42.22	196.33	326.45	1,360.06		100.10	1,733.75	172.05	2,190.00
Days Payable	13.69	0.00	0.00	0.00		0.00	0.00	6.67	0.00
Cash Conversion Cycle	40.35	246.30	329.99	1,360.06	0.00	130.43	1,799.63	205.10	2,238.51	0.00	0.00	0.00
Working Capital Days	129.72	571.64	1,533.00	7,754.13	1,909.84	177.74	2,437.73	1,103.48	5,925.47	2,315.40	1,542.21	793.05
ROCE %	2.60%	1.27%	0.22%	0.97%	2.08%	0.82%	-5.30%	0.93%	1.68%	1.75%	4.02%	4.08%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	67.57%	67.57%	69.06%	69.06%	69.06%	69.07%	69.07%	69.07%	69.07%	69.07%	69.07%	69.07%
	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
	32.36%	32.36%	30.87%	30.88%	30.87%	30.87%	30.87%	30.86%	30.86%	30.87%	30.86%	30.87%
No. of Shareholders	5,634	5,570	5,423	5,503	5,432	5,445	5,865	6,292	6,606	7,565	7,825	8,562

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	59.04%	59.04%	61.12%	65.40%	67.00%	67.57%	69.06%	69.07%	69.07%
	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
	40.89%	40.89%	38.81%	34.53%	32.93%	32.36%	30.87%	30.86%	30.87%
No. of Shareholders	3,182	3,183	3,175	3,200	3,276	5,634	5,432	6,606	8,562

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Ashirwad Steels & Industries Ltd

Ashirwad Steels & Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports