Elgi Rubber Company Ltd

₹ 119 -1.36%

23 Dec - close price

About

Incorporated in 1981, ELGI Rubber Ltd is in the business of manufacture of Reclaimed rubber, Retreading machinery, and Retread rubber^[1]

Key Points

Business Overview:^[1]^[2]
ERL is in the business of manufacturing reclaim rubber, tread rubber, bonding gum and other rubber products, mainly in the Tyre sector through a franchisee, and it also provides pre-cured retreading as a solutions provider for the whole rubber industry which includes machinery, tread rubber, and repair patches. Company offers end to end one stop shop for retreaders to supply quality material to some of the tyre manufacturers.

Website NSE

Market Cap ₹ 597 Cr.
Current Price ₹ 119
High / Low ₹ 144 / 44.7
Stock P/E 56.7
Book Value ₹ 64.2
Dividend Yield 0.00 %
ROCE 4.90 %
ROE 2.40 %
Face Value ₹ 1.00

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 0.88% over past five years.
Tax rate seems low
Company has a low return on equity of 3.83% over last 3 years.
Earnings include an other income of Rs.23.2 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: Plantation & Plantation Products Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	48.71	56.93	63.08	55.22	57.64	55.36	54.81	47.31	57.75	55.58	51.29	53.63	62.68
	42.82	52.37	67.02	51.94	49.00	48.54	50.94	43.99	49.95	52.00	49.48	49.31	54.09
Operating Profit	5.89	4.56	-3.94	3.28	8.64	6.82	3.87	3.32	7.80	3.58	1.81	4.32	8.59
OPM %	12.09%	8.01%	-6.25%	5.94%	14.99%	12.32%	7.06%	7.02%	13.51%	6.44%	3.53%	8.06%	13.70%
	1.61	8.57	3.14	10.95	9.78	18.74	-18.95	7.66	8.53	5.10	8.07	9.79	0.28
Interest	2.23	2.35	2.36	2.92	2.90	3.18	7.68	3.53	3.69	4.09	3.46	3.95	3.26
Depreciation	2.14	2.04	2.39	1.96	2.04	2.13	2.23	2.63	2.68	4.44	2.41	2.62	5.85
Profit before tax	3.13	8.74	-5.55	9.35	13.48	20.25	-24.99	4.82	9.96	0.15	4.01	7.54	-0.24
Tax %	43.45%	-0.11%	-17.30%	4.39%	8.61%	13.09%	-3.84%	-1.87%	18.57%	-253.33%	-9.48%	1.33%	-187.50%
	1.78	8.75	-4.58	8.93	12.32	17.59	-24.02	4.90	8.10	0.53	4.39	7.45	0.22
EPS in Rs	0.36	1.75	-0.92	1.78	2.46	3.51	-4.80	0.98	1.62	0.11	0.88	1.49	0.04
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	141	144	133	201	200	187	203	186	151	198	223	212	223
	133	136	128	183	187	178	194	187	143	187	200	195	205
Operating Profit	8	8	5	18	14	9	9	-1	8	11	23	16	18
OPM %	6%	6%	4%	9%	7%	5%	4%	-1%	6%	6%	10%	8%	8%
	19	18	11	-29	11	11	11	26	20	18	21	29	23
Interest	1	1	2	5	8	10	12	11	9	12	17	15	15
Depreciation	4	5	7	9	7	7	8	8	7	9	20	12	15
Profit before tax	23	21	8	-24	10	3	0	6	12	9	6	19	11
Tax %	24%	28%	28%	9%	21%	42%	-188%	6%	15%	8%	50%	5%
	18	15	6	-26	8	2	0	6	10	8	15	18	13
EPS in Rs	3.54	3.02	1.13	-5.29	1.57	0.39	0.09	1.16	2.01	1.66	2.96	3.58	2.52
Dividend Payout %	23%	12%	19%	-7%	8%	0%	0%	14%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	4%
5 Years:	1%
3 Years:	12%
TTM:	4%

Compounded Profit Growth
10 Years:	-7%
5 Years:	104%
3 Years:	-6%
TTM:	126%

Stock Price CAGR
10 Years:	14%
5 Years:	51%
3 Years:	46%
1 Year:	102%

Return on Equity
10 Years:	2%
5 Years:	3%
3 Years:	4%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	5	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	232	246	249	258	253	254	254	259	269	277	291	309	317
	14	18	21	67	111	119	126	113	98	120	143	165	159
	13	12	14	20	21	21	22	23	15	30	31	26	28
Total Liabilities	265	281	289	351	389	399	407	400	388	433	471	504	508
	49	65	60	90	81	84	77	69	74	76	90	111	116
CWIP	2	0	10	21	13	7	10	11	1	16	21	8	5
Investments	63	65	87	49	55	57	54	50	59	65	75	86	92
	151	150	132	191	240	251	267	270	254	275	285	299	296
Total Assets	265	281	289	351	389	399	407	400	388	433	471	504	508

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-4	25	15	-78	-13	5	14	43	29	15	6	5
	5	-11	-29	68	-21	-3	-4	-18	6	-24	-13	-12
	-3	-5	0	10	33	-4	-10	-26	-34	10	7	7
Net Cash Flow	-2	9	-14	-1	-1	-2	-0	-0	-0	0	-0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	46	54	42	70	104	104	123	90	108	100	85	88
Inventory Days	114	162	175	161	176	217	178	201	208	152	137	153
Days Payable	15	17	22	25	33	41	38	41	21	36	28	36
Cash Conversion Cycle	144	198	196	207	247	280	263	250	295	217	195	205
Working Capital Days	158	174	150	164	212	237	225	185	208	151	121	150
ROCE %	9%	8%	4%	6%	5%	3%	3%	2%	5%	5%	6%	5%

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
	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%	65.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%
	1.50%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.46%	1.10%	0.95%
	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%
	31.11%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.15%	31.14%	31.50%	31.66%
No. of Shareholders	13,743	14,027	14,679	14,345	14,143	13,890	13,173	14,432	13,360	14,772	14,539	13,771

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	62.64%	63.94%	63.94%	63.96%	65.03%	65.03%	65.03%	65.03%	65.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	2.29%	2.22%	2.22%	2.22%	2.22%	1.46%	1.46%	1.46%	0.95%
	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%	2.36%
	32.70%	31.47%	31.48%	31.46%	30.39%	31.15%	31.15%	31.14%	31.66%
No. of Shareholders	10,896	10,624	9,914	9,553	11,609	14,027	13,890	14,772	13,771

* 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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Elgi Rubber Company Ltd

Elgi Rubber Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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