LGB Forge Ltd

₹ 10.0 2.25%

22 Nov 3:46 p.m.

About

Incorporated in 2006, LGB Forge Ltd manufactures Forged and Machined Components^[1]

Key Points

Business Overview:^[1]
LGBFL is a part of the Coimbatore-based LGB Group which holds 73.82% stake in the company. It manufactures forged (hot, warm and cold forgings) and machined components. Company is a tier-II ancillary supplier to tier-I auto component suppliers in domestic and export markets, including segments of PV, LCV and tractor

Website BSE

Market Cap ₹ 238 Cr.
Current Price ₹ 10.0
High / Low ₹ 14.8 / 8.62
Stock P/E
Book Value ₹ 0.83
Dividend Yield 0.00 %
ROCE -3.94 %
ROE -39.3 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Stock is trading at 12.0 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -7.45% over past five years.
Company has a low return on equity of -16.2% over last 3 years.

* 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: Castings, Forgings & Fastners Industry: Castings & Forgings

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	36.34	34.66	32.17	28.03	29.80	26.00	26.64	22.71	28.78	22.99	19.81	22.53	23.38
	32.77	32.10	30.60	27.07	31.34	28.96	25.69	23.20	28.66	22.50	21.00	22.94	23.04
Operating Profit	3.57	2.56	1.57	0.96	-1.54	-2.96	0.95	-0.49	0.12	0.49	-1.19	-0.41	0.34
OPM %	9.82%	7.39%	4.88%	3.42%	-5.17%	-11.38%	3.57%	-2.16%	0.42%	2.13%	-6.01%	-1.82%	1.45%
	0.12	0.11	0.08	0.15	0.55	0.28	-1.26	-0.78	0.27	-1.18	-0.72	2.23	0.02
Interest	1.01	0.50	0.29	0.48	0.51	0.51	0.65	0.70	0.99	0.86	0.64	0.67	0.55
Depreciation	1.12	1.17	1.11	1.38	1.00	1.19	0.70	0.71	1.13	0.68	0.67	0.67	0.69
Profit before tax	1.56	1.00	0.25	-0.75	-2.50	-4.38	-1.66	-2.68	-1.73	-2.23	-3.22	0.48	-0.88
Tax %	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%
	1.55	1.00	0.25	-0.75	-2.51	-4.38	-1.66	-2.68	-1.74	-2.23	-3.22	0.48	-0.88
EPS in Rs	0.07	0.04	0.01	-0.03	-0.11	-0.18	-0.07	-0.11	-0.07	-0.09	-0.14	0.02	-0.04
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
	108.01	86.54	80.16	88.30	82.85	99.69	131.64	101.14	92.13	130.06	91.53	89.38	88.71
	96.87	79.89	76.13	86.07	84.02	98.09	122.85	95.36	82.67	120.24	95.90	89.30	89.48
Operating Profit	11.14	6.65	4.03	2.23	-1.17	1.60	8.79	5.78	9.46	9.82	-4.37	0.08	-0.77
OPM %	10.31%	7.68%	5.03%	2.53%	-1.41%	1.60%	6.68%	5.71%	10.27%	7.55%	-4.77%	0.09%	-0.87%
	2.50	10.77	4.34	2.99	4.25	0.40	1.45	0.82	0.74	0.65	0.75	-3.64	0.35
Interest	8.32	6.34	4.60	4.06	2.96	3.16	4.98	2.82	2.13	2.49	2.68	3.54	2.72
Depreciation	9.68	8.01	3.90	3.50	2.28	2.02	3.20	4.42	4.64	4.53	3.01	2.77	2.71
Profit before tax	-4.36	3.07	-0.13	-2.34	-2.16	-3.18	2.06	-0.64	3.43	3.45	-9.31	-9.87	-5.85
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-4.36	3.07	-0.14	-2.34	-2.17	-3.18	2.06	-0.64	3.43	3.44	-9.30	-9.87	-5.85
EPS in Rs	-0.18	0.13	-0.01	-0.10	-0.09	-0.13	0.09	-0.03	0.14	0.14	-0.39	-0.41	-0.25
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:	0%
5 Years:	-7%
3 Years:	-1%
TTM:	-15%

Compounded Profit Growth
10 Years:	-11%
5 Years:	%
3 Years:	%
TTM:	25%

Stock Price CAGR
10 Years:	10%
5 Years:	34%
3 Years:	13%
1 Year:	-2%

Return on Equity
10 Years:	-13%
5 Years:	-8%
3 Years:	-16%
Last Year:	-39%

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	15.00	15.00	15.00	15.00	15.00	15.00	23.82	23.82	23.82	23.82	23.82	23.82	23.82
Reserves	-5.33	-2.26	-3.55	-5.89	-8.24	-11.61	8.03	8.03	11.91	15.51	6.35	-3.65	-4.04
	52.45	35.75	31.76	22.86	17.90	16.54	10.94	14.76	13.10	13.32	27.04	29.74	20.81
	17.63	15.40	21.38	23.58	21.51	26.73	39.44	24.47	31.54	32.26	27.99	29.06	18.24
Total Liabilities	79.75	63.89	64.59	55.55	46.17	46.66	82.23	71.08	80.37	84.91	85.20	78.97	58.83
	31.96	19.42	14.72	11.65	8.76	12.48	24.95	27.12	24.18	20.14	17.61	12.08	12.37
CWIP	0.37	0.00	0.00	0.00	0.00	0.38	0.07	0.14	0.50	0.10	0.00	0.00	0.00
Investments	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
	47.42	44.47	49.87	43.90	37.41	33.80	57.21	43.82	55.69	64.67	67.59	66.89	46.46
Total Assets	79.75	63.89	64.59	55.55	46.17	46.66	82.23	71.08	80.37	84.91	85.20	78.97	58.83

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
	10.25	17.56	5.45	2.32	3.78	10.77	-0.41	5.34	3.95	2.25	-9.07	3.50
	2.00	5.22	2.80	1.78	4.45	-5.97	-15.41	-3.08	-1.86	-0.23	-2.11	-2.14
	-12.43	-22.79	-8.20	-4.16	-8.23	-4.80	15.85	-2.20	-2.19	-2.03	11.17	-1.36
Net Cash Flow	-0.18	-0.01	0.06	-0.05	-0.01	0.00	0.03	0.06	-0.10	0.00	0.00	0.00

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	87.49	100.97	144.34	112.68	68.64	66.12	70.70	77.48	134.70	97.89	136.30	127.57
Inventory Days	127.94	149.68	154.97	123.87	171.58	88.29	137.17	139.84	164.61	144.84	235.38	249.27
Days Payable	90.92	97.04	166.15	151.33	141.24	134.79	182.58	150.30	231.38	146.86	172.54	192.56
Cash Conversion Cycle	124.51	153.61	133.16	85.22	98.97	19.63	25.29	67.02	67.93	95.87	199.14	184.29
Working Capital Days	60.22	74.11	79.05	73.66	58.37	16.11	40.07	57.45	90.33	86.55	152.21	135.62
ROCE %	5.15%	0.96%	3.01%	-1.12%	-10.98%	-0.54%	22.42%	4.81%	11.34%	11.59%	-11.25%	-3.94%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	73.82%	73.82%	73.82%	73.83%	73.83%	73.83%	73.82%	73.79%	73.79%	73.79%	73.79%	73.79%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	26.17%	26.17%	26.17%	26.17%	26.16%	26.16%	26.17%	26.21%	26.20%	26.19%	26.18%	26.19%
No. of Shareholders	25,176	30,294	33,551	33,254	32,483	31,938	31,575	31,409	34,083	36,609	41,329	39,916

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	64.17%	64.17%	74.90%	74.90%	74.17%	73.82%	73.83%	73.79%	73.79%
	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	35.82%	35.83%	25.09%	25.09%	25.82%	26.17%	26.16%	26.19%	26.19%
No. of Shareholders	16,550	15,785	15,596	15,626	16,726	30,294	31,938	36,609	39,916

* 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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LGB Forge Ltd

LGB Forge Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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