Steel City Securities Ltd

₹ 106 1.25%

22 Nov - close price

About

Incorporated in 1995, Steel City Securities Ltd provides stock broking and e-governance services^[1]

Key Points

Business Overview:^[1]
Company is in the business of retail stock
broking operations in Tamil Nadu, Karnataka, Orissa, Chattisgarh, and Maharashtra. It provides a trading platform for **Capital Market, Futures & Options, Commodities and Currency Derivatives from NSE, BSE, MCX, MSE, and NCDEX. **

Website NSE

Market Cap ₹ 160 Cr.
Current Price ₹ 106
High / Low ₹ 127 / 65.3
Stock P/E 10.2
Book Value ₹ 72.5
Dividend Yield 2.83 %
ROCE 16.2 %
ROE 11.6 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 39.6%

Cons

The company has delivered a poor sales growth of 0.35% over past five years.
Company has a low return on equity of 12.5% over last 3 years.
Contingent liabilities of Rs.52.2 Cr.
Company has high debtors of 317 days.
Working capital days have increased from -25.8 days to 104 days

* 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: Stock/ Commodity Brokers Industry: Finance & Investments

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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
	16.53	17.11	16.36	13.09	14.31	13.28	13.83	12.98	15.20	13.57	17.30	16.66	18.49
	11.90	12.46	12.38	10.49	11.36	9.20	11.39	10.59	12.07	10.31	12.39	11.64	13.21
Operating Profit	4.63	4.65	3.98	2.60	2.95	4.08	2.44	2.39	3.13	3.26	4.91	5.02	5.28
OPM %	28.01%	27.18%	24.33%	19.86%	20.61%	30.72%	17.64%	18.41%	20.59%	24.02%	28.38%	30.13%	28.56%
	0.58	0.59	0.98	0.64	0.71	0.86	0.88	0.84	0.71	0.79	1.15	0.81	1.62
Interest	0.11	0.12	0.13	0.11	0.11	0.16	0.21	0.11	0.12	0.13	0.24	0.31	0.33
Depreciation	0.17	0.16	0.15	0.16	0.16	0.18	0.22	0.28	0.28	0.28	0.18	0.25	0.25
Profit before tax	4.93	4.96	4.68	2.97	3.39	4.60	2.89	2.84	3.44	3.64	5.64	5.27	6.32
Tax %	28.40%	25.20%	27.78%	25.25%	29.20%	23.70%	29.07%	25.35%	28.78%	28.30%	23.76%	27.51%	21.99%
	3.53	3.70	3.37	2.22	2.41	3.52	2.06	2.13	2.44	2.61	4.30	3.82	4.93
EPS in Rs	2.34	2.45	2.23	1.47	1.60	2.33	1.36	1.41	1.62	1.73	2.85	2.53	3.26
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
	23	22	32	27	35	64	61	47	55	66	58	63	66
	17	15	19	19	27	45	46	38	41	47	42	45	48
Operating Profit	6	6	12	8	8	19	16	9	14	19	15	17	18
OPM %	28%	29%	39%	28%	24%	29%	25%	19%	26%	29%	27%	28%	28%
	0	0	0	0	0	0	0	3	0	0	0	0	4
Interest	1	1	1	1	1	2	1	1	1	1	1	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	5	5	10	6	7	16	13	10	13	18	14	16	21
Tax %	33%	30%	35%	31%	33%	30%	33%	26%	26%	27%	26%	26%
	3	3	7	4	5	11	9	8	9	13	10	11	16
EPS in Rs	2.53	2.65	5.30	3.17	3.08	7.33	5.91	5.02	6.17	8.56	6.76	7.61	10.37
Dividend Payout %	0%	0%	0%	38%	65%	34%	42%	30%	49%	35%	44%	39%

Compounded Sales Growth
10 Years:	11%
5 Years:	0%
3 Years:	4%
TTM:	19%

Compounded Profit Growth
10 Years:	13%
5 Years:	5%
3 Years:	7%
TTM:	54%

Stock Price CAGR
10 Years:	%
5 Years:	28%
3 Years:	22%
1 Year:	58%

Return on Equity
10 Years:	12%
5 Years:	12%
3 Years:	13%
Last Year:	12%

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	12	12	12	12	15	15	15	15	15	15	15	15	15
Reserves	31	33	34	36	47	53	56	60	66	75	80	87	94
	13	3	18	5	0	0	0	0	1	0	0	4	11
	20	24	22	22	38	56	54	58	68	76	71	86	86
Total Liabilities	77	72	86	76	100	124	125	133	150	166	166	192	206
	5	5	3	3	4	4	4	5	4	4	13	12	12
CWIP	0	0	0	0	0	0	0	0	2	3	0	0	0
Investments	1	1	2	3	5	5	7	7	7	7	7	9	9
	70	66	80	70	92	115	114	121	137	152	146	171	186
Total Assets	77	72	86	76	100	124	125	133	150	166	166	192	206

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
	-9	8	-9	8	9	20	14	7	2	24	16	-19
	1	2	0	1	10	0	-1	1	1	1	-3	1
	6	-12	9	-16	-9	-5	-5	-4	-3	-6	-5	-1
Net Cash Flow	-1	-2	0	-7	10	16	8	4	-0	18	8	-18

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	608	625	545	607	542	298	260	321	425	316	276	317
Inventory Days
Days Payable
Cash Conversion Cycle	608	625	545	607	542	298	260	321	425	316	276	317
Working Capital Days	302	234	300	311	164	-6	4	-70	28	-52	-130	104
ROCE %	11%	11%	20%	12%	14%	27%	21%	15%	17%	21%	16%	16%

Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	62.66%	62.87%	63.52%	64.54%	65.68%	67.38%	68.81%	69.27%	69.93%	70.19%	70.69%	70.86%
	0.00%	0.00%	0.00%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%	0.47%	0.34%
	0.32%	0.17%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	37.02%	36.98%	36.31%	35.29%	34.14%	32.45%	31.02%	30.56%	29.90%	29.64%	28.84%	28.80%
No. of Shareholders	9,770	9,912	10,118	10,119	9,919	9,681	9,733	9,784	10,762	12,182	11,841	11,999

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	55.20%	57.03%	53.34%	56.69%	62.57%	62.87%	67.38%	70.19%	70.86%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.17%	0.34%
	11.22%	0.15%	0.15%	0.18%	0.15%	0.17%	0.00%	0.00%	0.00%
	0.00%	43.03%	46.51%	43.14%	37.29%	36.98%	32.45%	29.64%	28.80%
No. of Shareholders	768	811	805	1,162	2,660	9,912	9,681	12,182	11,999

* 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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