BF Industrial Technology & Solutions Ltd

₹ 16.4 -4.93%

30 Apr 2021

About

Sanghvi Forging & Engineering is engaged in the manufacturer of open and closed die forging products for the oil & gas, defense, ship building, power & other sectors. It also exports products to various foreign countries over the last two decades.

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Market Cap ₹ 24.4 Cr.
Current Price ₹ 16.4
High / Low ₹ /
Stock P/E 2.04
Book Value ₹ 61.3
Dividend Yield 0.00 %
ROCE 14.1 %
ROE 14.1 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.27 times its book value
Company has delivered good profit growth of 21.1% CAGR over last 5 years
Debtor days have improved from 99.2 to 79.2 days.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Company has a low return on equity of 9.43% 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

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
	12.58	14.53	13.30	10.04	18.41	19.44	17.69	18.67	13.75	9.46	6.67	13.37	20.10
	12.51	14.23	12.99	11.15	15.30	17.66	12.88	13.79	12.95	14.75	8.00	12.82	20.29
Operating Profit	0.07	0.30	0.31	-1.11	3.11	1.78	4.81	4.88	0.80	-5.29	-1.33	0.55	-0.19
OPM %	0.56%	2.06%	2.33%	-11.06%	16.89%	9.16%	27.19%	26.14%	5.82%	-55.92%	-19.94%	4.11%	-0.95%
	0.04	0.27	0.10	0.33	-0.29	0.12	0.04	0.43	-0.31	0.49	0.16	-0.08	0.07
Interest	4.00	4.86	0.21	0.49	0.19	14.82	0.85	0.63	0.55	0.46	0.29	0.34	-0.03
Depreciation	2.23	2.17	2.15	2.17	2.17	2.11	2.13	2.14	2.13	2.11	2.10	2.13	2.12
Profit before tax	-6.12	-6.46	-1.95	-3.44	0.46	-15.03	1.87	2.54	-2.19	-7.37	-3.56	-2.00	-2.21
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%
	-6.11	-6.47	-1.95	-3.44	0.47	-15.03	1.87	2.53	-2.20	-7.37	-3.56	-2.00	-2.21
EPS in Rs	-4.10	-4.34	-1.31	-2.31	0.32	-10.09	1.26	1.70	-1.48	-4.95	-2.39	-1.34	-1.48
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
	45	54	87	68	55	55	61	60	55	63	100	112
	39	48	71	55	52	53	57	54	73	71	88	98
Operating Profit	7	6	16	14	3	2	4	5	-17	-8	11	14
OPM %	15%	12%	18%	20%	5%	3%	7%	9%	-31%	-13%	11%	12%
	1	0	0	1	0	1	0	1	1	38	8	1
Interest	4	9	16	16	17	17	16	2	0	0	0	0
Depreciation	2	7	8	8	9	9	9	9	8	5	3	3
Profit before tax	2	-10	-8	-10	-23	-23	-20	-5	-25	25	16	12
Tax %	28%	-22%	0%	0%	0%	0%	0%	0%	0%	3%	0%	0%
	1	-8	-8	-10	-23	-23	-20	-5	-25	24	16	12
EPS in Rs	1.08	-5.85	-5.72	-6.71	-15.12	-15.51	-13.40	-3.46	-16.55	16.23	10.97	8.06
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	8%
5 Years:	13%
3 Years:	26%
TTM:	12%

Compounded Profit Growth
10 Years:	14%
5 Years:	21%
3 Years:	35%
TTM:	-25%

Stock Price CAGR
10 Years:	-14%
5 Years:	4%
3 Years:	%
1 Year:	%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	9%
Last Year:	14%

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	13	13	14	15	15	15	15	15	15	90	90	90
Reserves	48	43	37	29	7	-17	-37	-42	-66	-27	-11	1
	61	73	130	127	127	112	97	145	136	0	0	0
	67	72	34	29	48	78	106	61	61	29	28	35
Total Liabilities	189	201	215	200	196	188	181	178	146	92	107	127
	146	158	151	156	148	140	132	125	116	49	47	47
CWIP	7	8	10	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	1	0	0
	36	35	54	43	47	48	49	54	29	42	60	80
Total Assets	189	201	215	200	196	188	181	178	146	92	107	127

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
	46	11	-39	21	15	35	26	-58	8	-12	7	3
	-90	-18	-4	-3	-0	-1	-0	-1	-0	1	0	-2
	24	7	43	-18	-15	-34	-26	60	-9	11	0	0
Net Cash Flow	-20	0	0	-0	0	0	0	1	-1	1	7	1

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	85	80	108	75	138	130	117	90	60	106	112	79
Inventory Days	221	201	169	273	248	275	246	241	80	210	128	257
Days Payable	57	173	155	208	237	298	260	213	197	282	174	192
Cash Conversion Cycle	248	108	121	141	149	107	103	118	-57	34	66	144
Working Capital Days	25	-248	69	61	-21	-218	-360	-71	-266	44	76	105
ROCE %	5%	-0%	5%	4%	-4%	-5%	-5%	-3%	-24%	-17%	22%	14%

Shareholding Pattern

Numbers in percentages

	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021
	67.64%	67.64%	67.64%	67.66%	67.66%	67.68%	67.68%	67.70%	67.70%	67.69%	67.77%	61.06%
	32.36%	32.36%	32.36%	32.34%	32.34%	32.32%	32.32%	32.30%	32.30%	32.31%	32.23%	38.94%
No. of Shareholders	4,951	4,767	4,652	4,580	4,524	4,419	4,357	4,311	4,302	4,203	4,057	4,051

	Jan 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
	67.73%	67.71%	67.64%	67.66%	67.70%	61.06%
	32.27%	32.29%	32.36%	32.34%	32.30%	38.94%
No. of Shareholders	4,699	4,822	4,948	4,580	4,311	4,051

Documents

Announcements

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No data available.

Annual reports

DRHP

Credit ratings

Concalls

Nov 2016

Transcript

Notes
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