Emkay Taps & Cutting Tools Ltd
Emkay Taps & Cutting Tools Ltd (ETCT) is engaged in making threads tools (HSS Taps) and selling under 'Emkay' brand. Organizational functioning -Manufacturing – Cutting Tools (Metal cutting machine tools) - catering to the needs of automobile and auto- ancillary industry, electrical fittings industry, defense components along with Aerospace and general engineering industry requirements covering major sectors of Engineering and Capital Goods Industry in broader sense.
- Market Cap ₹ 1,056 Cr.
- Current Price ₹ 990
- High / Low ₹ 1,111 / 360
- Stock P/E 14.7
- Book Value ₹ 280
- Dividend Yield 0.00 %
- ROCE 39.0 %
- ROE 31.8 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 68.7% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.44.8 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: Engineering Industry: Engineering
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 30 | 44 | 49 | 53 | 56 | 64 | 51 | 56 | 71 | 89 | 103 | |
| 21 | 18 | 27 | 32 | 34 | 33 | 35 | 30 | 33 | 37 | 45 | 55 | |
| Operating Profit | 10 | 11 | 17 | 17 | 19 | 23 | 29 | 20 | 23 | 34 | 43 | 48 |
| OPM % | 31% | 38% | 38% | 34% | 36% | 41% | 45% | 40% | 41% | 48% | 49% | 47% |
| 1 | 0 | 2 | 5 | 2 | 6 | -13 | 1 | 9 | 14 | 16 | 45 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 7 | 9 | 16 | 19 | 18 | 25 | 13 | 19 | 29 | 44 | 57 | 90 |
| Tax % | 32% | 36% | 34% | 26% | 33% | 22% | 59% | 24% | 18% | 20% | 22% | 20% |
| 5 | 6 | 11 | 14 | 12 | 20 | 5 | 14 | 24 | 35 | 44 | 72 | |
| EPS in Rs | 9.65 | 11.25 | 10.13 | 13.13 | 11.07 | 18.59 | 4.94 | 13.31 | 22.33 | 33.04 | 41.35 | 67.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 3% | 10% | 3% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 10% |
| 3 Years: | 23% |
| TTM: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 69% |
| 3 Years: | 61% |
| TTM: | 117% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 52% |
| 3 Years: | 99% |
| 1 Year: | 95% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | 22% |
| Last Year: | 32% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 2 | 2 | 2 | 2 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 43 | 49 | 56 | 71 | 83 | 102 | 98 | 111 | 135 | 170 | 215 | 288 |
| 2 | 2 | 2 | 2 | 5 | 4 | 3 | 3 | 0 | 3 | 6 | 6 | |
| 6 | 7 | 7 | 6 | 8 | 10 | 17 | 11 | 13 | 19 | 25 | 32 | |
| Total Liabilities | 51 | 58 | 67 | 81 | 97 | 118 | 128 | 136 | 159 | 203 | 257 | 337 |
| 18 | 16 | 14 | 16 | 18 | 17 | 17 | 21 | 19 | 19 | 16 | 14 | |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Investments | 16 | 24 | 31 | 36 | 49 | 71 | 65 | 78 | 99 | 144 | 187 | 255 |
| 17 | 18 | 22 | 28 | 30 | 30 | 44 | 37 | 41 | 40 | 53 | 69 | |
| Total Assets | 51 | 58 | 67 | 81 | 97 | 118 | 128 | 136 | 159 | 203 | 257 | 337 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 8 | 8 | 5 | 12 | 19 | 14 | 18 | 15 | 32 | 25 | 25 | |
| -4 | -8 | -4 | -6 | -15 | -17 | -11 | -17 | -12 | -35 | -28 | -23 | |
| -4 | 0 | -3 | 0 | 2 | -2 | -2 | -1 | -3 | 3 | 2 | 1 | |
| Net Cash Flow | 1 | 0 | 1 | -0 | -1 | 0 | 0 | -0 | -1 | 0 | 0 | 2 |
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 | 81 | 91 | 79 | 82 | 92 | 99 | 94 | 100 | 117 | 90 | 81 | |
| Inventory Days | 307 | 484 | 612 | 546 | 827 | 605 | 681 | 635 | 194 | 417 | 518 | |
| Days Payable | 58 | 84 | 150 | 81 | 146 | 211 | 173 | 98 | 85 | 157 | 155 | |
| Cash Conversion Cycle | 330 | 491 | 541 | 548 | 773 | 493 | 602 | 637 | 226 | 350 | 443 | |
| Working Capital Days | 149 | 154 | 127 | 161 | 158 | 134 | 157 | 183 | 181 | 107 | 112 | |
| ROCE % | 17% | 19% | 30% | 29% | 22% | 27% | 12% | 16% | 16% | 19% | 21% |
Documents
Announcements
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Financial Result Updates
28 May 2024 - Emkay Taps and Cutting Tools Limited has submitted to the Exchange, the financial results for the period ended March 31, 2024.
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Board Meeting Intimation
18 May 2024 - EMKAY TAPS AND CUTTING TOOLS LIMITED has informed about Board Meeting to be held on 28-May-2024 to inter-alia consider and approve the Audited Financial results …
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Shareholders meeting
2 May 2024 - Emkay Taps and Cutting Tools Limited has informed regarding Proceedings of Court Convened General Meeting held on May 02, 2024. Further, the company has submitted …
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Copy of Newspaper Publication
28 March 2024 - Emkay Taps and Cutting Tools Limited has informed about Copy of Newspaper Publication with respect to proposed Scheme of Arrangement for Demerger of undertaking of …
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Notice Of Shareholders Meetings-XBRL
27 March 2024 - EMKAY TAPS AND CUTTING TOOLS LIMITED has informed about Notice of Shareholders Meeting for NCLT/ Court Convened Meeting to be held on 02-May-2024
Types of Taps & Tools:-
The varieties of taps offered by it include HI Performance Thread Forming Taps, HI-Performance Spiral Fluted Taps, HI-Performance Spiral Pointed Taps, HI-Performance Taps for Cast Iron Tapping, HI-Performance Special Taps, PM Taps, Carbide Taps, Special Designed Roll Taps, Through Coolant Taps (T.C.H), Special Geometry, Spiral Fluted Taps, Special Geometry, Spiral Pointed Taps, Taps With Special Coatings among others are widely used in several critical auto components, ensuring the right product for each customer specific production requirement and timely deliveries has given ETCT a competitive advantage in this high-precision industry.