Gujarat Sidhee Cement Ltd

₹ 33.1 -0.45%

20 Apr 2023

gujaratsidheecementlimited.com; www.mehtagroup.com BSE: 518029 NSE: GSCLCEMENT

About

Gujarat Sidhee Cement Ltd is engaged in the business of cement under the brand name 'Sidhee'.
It was incorporated in 1973, as a wholly owned subsidiary of Gujarat Industrial Investment Corporation and was later joined by Mehta Group.^[1]

Key Points

Products
The company manufactures and markets clinker & cement. The range of Sidhee Cement includes:
Portland Pozzolana Cement (PPC),
Ordinary Portland Cement (OPC 43 grade 53 grade). ^[1]

Website BSE NSE

Market Cap ₹ 296 Cr.
Current Price ₹ 33.1
High / Low ₹ /
Stock P/E
Book Value ₹ 52.2
Dividend Yield 0.00 %
ROCE 6.94 %
ROE 4.33 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.63 times its book value

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 10.1% over past five years.
Company has a low return on equity of 7.26% over last 3 years.
Earnings include an other income of Rs.5.28 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: Cement Industry: Cement - North India

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
	150.39	165.48	89.59	127.65	154.04	194.41	155.93	166.35	178.17	202.99	188.39	142.20	223.06
	138.04	139.15	80.47	116.73	152.43	160.56	135.40	166.03	167.14	196.29	177.89	162.22	215.05
Operating Profit	12.35	26.33	9.12	10.92	1.61	33.85	20.53	0.32	11.03	6.70	10.50	-20.02	8.01
OPM %	8.21%	15.91%	10.18%	8.55%	1.05%	17.41%	13.17%	0.19%	6.19%	3.30%	5.57%	-14.08%	3.59%
	1.31	1.33	2.05	1.45	2.54	2.71	1.10	2.91	1.03	1.99	1.11	1.10	1.08
Interest	1.92	1.78	1.23	1.20	1.34	1.25	1.26	0.90	1.26	0.88	0.79	1.20	0.97
Depreciation	3.07	2.77	2.65	2.65	2.65	2.61	2.64	2.65	2.64	2.52	2.98	3.02	3.03
Profit before tax	8.67	23.11	7.29	8.52	0.16	32.70	17.73	-0.32	8.16	5.29	7.84	-23.14	5.09
Tax %	34.37%	35.53%	31.55%	42.72%	175.00%	36.39%	33.05%	-68.75%	36.52%	39.32%	29.85%	-33.32%	35.36%
	5.69	14.90	4.99	4.88	-0.12	20.80	11.86	-0.09	5.18	3.22	5.49	-15.43	3.29
EPS in Rs	0.65	1.70	0.57	0.55	-0.01	2.36	1.33	-0.01	0.58	0.36	0.61	-1.73	0.37
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
	350	439	446	410	484	469	434	536	563	585	566	703	757
	355	423	396	407	475	474	467	503	574	506	510	665	751
Operating Profit	-4	16	50	3	9	-5	-33	33	-11	79	56	39	5
OPM %	-1%	4%	11%	1%	2%	-1%	-8%	6%	-2%	14%	10%	5%	1%
	6	5	16	8	1	7	12	12	15	4	9	7	5
Interest	3	3	2	3	5	5	3	3	7	7	5	4	4
Depreciation	6	6	7	8	11	9	9	10	10	11	11	10	12
Profit before tax	-6	12	58	0	-7	-12	-34	32	-13	65	49	31	-5
Tax %	-50%	53%	30%	763%	-34%	-39%	-4%	-4%	-44%	35%	37%	35%
	-3	6	40	-3	-4	-7	-32	33	-7	42	31	20	-3
EPS in Rs	-0.21	0.38	11.14	-0.75	-0.52	-0.84	-3.73	3.86	-0.80	4.85	3.46	2.26	-0.39
Dividend Payout %	0%	0%	9%	0%	0%	0%	0%	0%	0%	21%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	10%
3 Years:	8%
TTM:	9%

Compounded Profit Growth
10 Years:	14%
5 Years:	21%
3 Years:	70%
TTM:	-109%

Stock Price CAGR
10 Years:	2%
5 Years:	12%
3 Years:	-9%
1 Year:	%

Return on Equity
10 Years:	4%
5 Years:	6%
3 Years:	7%
Last Year:	4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Sep 2022
Equity Capital	145	145	36	36	71	86	86	86	87	87	88	89	89
Reserves	-44	-39	106	108	98	91	260	294	292	326	367	386	378
	7	8	3	21	19	21	28	46	54	48	39	42	40
	112	122	135	133	139	126	216	199	201	193	196	192	197
Total Liabilities	219	236	279	298	328	324	590	626	634	655	691	710	705
	77	78	77	121	100	100	358	416	419	420	416	411	414
CWIP	2	1	13	3	4	5	22	6	0	1	1	6	1
Investments	0	0	0	8	60	74	79	79	79	79	87	86	87
	139	157	190	167	164	145	131	125	136	155	187	208	203
Total Assets	219	236	279	298	328	324	590	626	634	655	691	710	705

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	25	33	49	9	28	1	21	37	-3	43	41	0
	-11	-9	-15	-47	-51	-24	-32	-45	-7	-10	-6	-9
	-22	-5	-7	20	30	8	9	14	3	-34	-33	6
Net Cash Flow	-8	19	27	-18	8	-15	-2	6	-7	-1	2	-4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Debtor Days	37	13	13	15	13	10	7	8	9	13	11	13
Inventory Days			685	377	477	233	260	221	256	321	304	474
Days Payable			743	478	497	239	418	344	381	315	204	191
Cash Conversion Cycle	37	13	-44	-86	-7	3	-151	-115	-116	19	112	296
Working Capital Days	7	-6	-4	-7	-13	-14	-75	-62	-55	-33	-27	-4
ROCE %	-4%	13%	40%	2%	3%	-4%	-11%	9%	-1%	16%	11%	7%

Shareholding Pattern

Numbers in percentages

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
	70.36%	70.33%	70.26%	70.26%	69.70%	69.70%	69.53%	69.53%	69.49%	69.42%	69.40%	69.38%
	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%
	0.13%	0.13%	0.09%	0.09%	0.09%	0.09%	0.09%	0.37%	0.36%	0.25%	0.02%	0.02%
	29.48%	29.51%	29.65%	29.65%	30.20%	30.20%	30.38%	30.11%	30.14%	30.33%	30.58%	30.58%
No. of Shareholders	56,285	57,317	50,726	52,900	55,095	58,406	56,557	56,015	56,913	56,902	56,447	55,625

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	71.94%	71.94%	71.30%	70.88%	70.26%	69.53%	69.38%
	0.03%	0.03%	0.03%	0.02%	0.00%	0.00%	0.00%
	0.34%	0.29%	0.13%	0.14%	0.09%	0.37%	0.02%
	27.69%	27.74%	28.53%	28.96%	29.65%	30.11%	30.58%
No. of Shareholders	62,814	57,812	56,120	54,407	52,900	56,015	55,625

* 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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Gujarat Sidhee Cement Ltd

Gujarat Sidhee Cement Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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