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Ankit Metal & Power Overview

1. Business Overview

Ankit Metal & Power Ltd. operates in the Steel & Iron Products sector. Its core business involves the manufacturing and sale of various steel and iron products. As a "Metal & Power" company, it likely has an integrated steel plant, potentially including captive power generation to meet its energy needs and reduce operational costs. The company generates revenue by producing semi-finished and finished steel products (such as billets, TMT bars, sponge iron, or other structural steel products) and supplying them to various end-user industries including construction, infrastructure, manufacturing, and general engineering.

2. Key Segments / Revenue Mix

Specific revenue breakdowns are not publicly available for this analysis. However, given its name and industry, its primary segments would likely include:

Steel Products: Manufacturing and sale of various steel items like billets, TMT bars, or other long products.

Iron Products: Potentially sponge iron or pig iron, which are intermediate products used in steelmaking or sold directly.

Power: While likely primarily for captive consumption to support steel manufacturing, there might be a minor component of power sales if surplus capacity exists.

3. Industry & Positioning

The Indian Steel & Iron Products industry is cyclical, capital-intensive, and highly dependent on economic growth, particularly infrastructure development, construction, and manufacturing. The industry structure ranges from large integrated players to numerous regional, smaller-scale mills. Ankit Metal & Power Ltd. likely operates as a mid-sized or regional player within this landscape. Its positioning would involve competing on factors such as product quality, cost efficiency (potentially aided by captive power or raw material linkages), and regional distribution strength, often catering to specific local or state-level demand.

4. Competitive Advantage (Moat)

For a company of its likely scale in a commodity industry, Ankit Metal & Power Ltd. likely faces challenges in establishing strong, durable competitive advantages. Potential competitive advantages, if present, could include:

Cost Efficiency: Achieved through backward integration (e.g., captive power generation, sourcing of raw materials like iron ore or coal), operational efficiencies, or efficient logistics within its operating region.

Regional Dominance/Logistics: Strong distribution network and proximity to customers in specific geographical areas can reduce transportation costs and delivery times.

Product Specialization: Focus on niche products or quality specifications that cater to specific industrial buyers.

However, broad brand recognition or significant switching costs are generally less prevalent in the standardized steel product market.

5. Growth Drivers

Infrastructure Spending: Government initiatives and investment in infrastructure (roads, railways, ports, urban development) will drive demand for steel products.

Urbanization & Housing: Growing urban populations and demand for residential and commercial construction will necessitate steel.

Manufacturing Growth: Expansion in sectors like automotive, capital goods, and engineering will increase industrial demand for steel.

Capacity Expansion: Any planned increases in manufacturing capacity or modernization of existing facilities by the company could boost sales volumes.

Operational Efficiencies: Improving cost structures through better energy management, raw material procurement, or technology adoption can enhance profitability and support growth.

6. Risks

Commodity Price Volatility: Fluctuations in prices of raw materials (iron ore, coking coal, energy) and finished steel products can significantly impact margins.

Economic Downturn: A slowdown in the Indian economy or key end-user sectors (construction, infrastructure, manufacturing) would reduce demand for steel.

Intense Competition: The steel industry is competitive, with both large integrated players and smaller regional mills vying for market share, potentially leading to pricing pressures.

Regulatory & Environmental Risks: Stricter environmental norms, changes in trade policies (e.g., import duties, anti-dumping measures), or changes in mining policies could affect operations and costs.

Capital Intensive Nature: Steel production requires significant capital expenditure, potentially leading to higher debt levels and sensitivity to interest rate changes.

7. Management & Ownership

Ankit Metal & Power Ltd. is typical of many Indian companies, likely being promoter-led. The promoter group generally holds a significant stake in the company, indicating their long-term commitment. While specific details on management quality are not available, in such structures, the vision and execution capabilities of the founding family or key promoters are crucial to the company's strategic direction and operational performance.

8. Outlook

Ankit Metal & Power Ltd. operates within a fundamentally important industry for India's economic development. The long-term outlook for steel demand in India remains positive due to strong tailwinds from infrastructure development, urbanization, and a growing manufacturing sector. However, the company's performance is inherently linked to the cyclical nature of the commodity market and macroeconomic conditions. Challenges include managing raw material and energy price volatility, navigating intense competition, and adhering to evolving environmental regulations. Its ability to maintain cost efficiencies, strategically expand capacity, and potentially diversify its product mix will be key to its sustained performance in a dynamic market.

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Ankit Metal & Power Key Financials

Market Cap ₹22 Cr.

Stock P/E -0.2

P/B -

Current Price ₹1.6

Book Value ₹ 0

Face Value 10

52W High ₹2.5

Dividend Yield 0%

52W Low ₹ 1.3

Ankit Metal & Power Share Price

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Volume
Price

Ankit Metal & Power Quarterly Price

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Ankit Metal & Power Peer Comparison

Ankit Metal & Power Quarterly Results

#(Fig in Cr.) Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Jun 2023 Sep 2023 Dec 2023
Net Sales 141 212 149 239 207 187 197 203 206 147
Other Income 16 0 0 1 0 0 0 0 7 0
Total Income 157 212 149 239 207 187 197 203 213 147
Total Expenditure 182 211 145 224 212 190 231 248 300 213
Operating Profit -25 1 5 15 -4 -3 -34 -45 -88 -67
Interest 2 2 1 0 0 0 0 0 0 0
Depreciation 13 11 10 9 9 9 9 8 9 10
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -39 -12 -6 6 -14 -12 -43 -53 -97 -76
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -39 -12 -6 6 -14 -12 -43 -53 -97 -76
Adjustments 0 -0 0 0 -0 0 0 -0 0 0
Profit After Adjustments -39 -12 -6 6 -14 -12 -43 -53 -97 -76
Adjusted Earnings Per Share -2.8 -0.8 -0.4 0.4 -1 -0.8 -3.1 -3.8 -6.9 -5.4

Ankit Metal & Power Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 1193 1476 1148 962 24 186 409 548 418 757 854 753
Other Income 1 3 10 1 1 0 4 11 3 1 0 7
Total Income 1194 1479 1158 963 24 186 413 559 421 758 854 760
Total Expenditure 1017 1410 1164 1124 259 265 457 539 434 762 917 992
Operating Profit 177 68 -7 -161 -235 -78 -45 20 -13 -4 -63 -234
Interest 71 115 113 135 15 62 3 44 19 5 0 0
Depreciation 41 60 74 61 41 41 45 51 44 42 35 36
Exceptional Income / Expenses 0 0 0 0 -8 0 0 0 0 0 0 0
Profit Before Tax 65 -106 -193 -357 -299 -181 -92 -75 -76 -52 -99 -269
Provision for Tax 14 -30 0 0 0 0 0 0 0 0 0 0
Profit After Tax 51 -77 -193 -357 -299 -181 -92 -75 -76 -52 -99 -269
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 51 -77 -193 -357 -299 -181 -92 -75 -76 -52 -99 -269
Adjusted Earnings Per Share 5.4 -6.3 -15.8 -25.3 -21.2 -12.8 -6.5 -5.3 -5.4 -3.7 -7 -19.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 13% 16% 36% -3%
Operating Profit CAGR 0% NAN% 0% NAN%
PAT CAGR 0% 0% 0% NAN%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -36% -28% 3% -1%
ROE Average 0% 0% 0% -26%
ROCE Average -34% -19% -15% -11%

Ankit Metal & Power Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 499 503 309 -10 -309 -491 -583 -659 -734 -785 -883
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 473 314 778 731 659 562 447 276 177 66 11
Other Non-Current Liabilities 32 2 0 0 0 0 0 0 4 4 5
Total Current Liabilities 652 948 870 1178 1268 1414 1566 1658 1770 1935 2062
Total Liabilities 1656 1766 1957 1899 1618 1485 1430 1275 1216 1219 1195
Fixed Assets 706 849 776 715 685 644 599 548 504 461 426
Other Non-Current Assets 169 1 1 4 4 4 4 3 1 31 50
Total Current Assets 780 915 1180 1181 928 837 827 724 712 727 719
Total Assets 1656 1766 1957 1899 1618 1485 1430 1275 1216 1219 1195

Ankit Metal & Power Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 10 2 1 10 5 3 2 1 1 1 1
Cash Flow from Operating Activities 18 61 -255 46 84 108 139 212 27 60 54
Cash Flow from Investing Activities -200 -50 17 8 -6 4 -0 0 0 -28 -19
Cash Flow from Financing Activities 173 -13 242 -59 -81 -113 -140 -212 -27 -32 -35
Net Cash Inflow / Outflow -8 -1 5 -5 -3 -0 -2 -0 0 -0 0
Closing Cash & Cash Equivalent 2 1 6 5 3 2 1 1 1 1 1

Ankit Metal & Power Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 5.37 -6.27 -15.83 -25.3 -21.21 -12.85 -6.54 -5.32 -5.37 -3.66 -7
CEPS(Rs) 9.68 -1.38 -9.8 -20.97 -18.34 -9.93 -3.36 -1.69 -2.22 -0.65 -4.5
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 52.34 41.17 25.32 -0.71 -21.92 -34.77 -41.31 -46.68 -52.03 -55.64 -62.55
Core EBITDA Margin(%) 13.22 3.96 -1.32 -16.13 -907.95 -41.82 -11.79 1.76 -3.77 -0.7 -7.43
EBIT Margin(%) 10.23 0.53 -6.3 -22.07 -1094.55 -63.68 -21.9 -5.62 -13.65 -6.19 -11.55
Pre Tax Margin(%) 4.87 -6.47 -15.18 -35.47 -1152.69 -96.54 -22.55 -13.69 -18.12 -6.82 -11.56
PAT Margin (%) 3.84 -4.65 -15.18 -35.47 -1152.69 -96.54 -22.55 -13.69 -18.12 -6.82 -11.56
Cash Profit Margin (%) 6.93 -1.03 -9.4 -29.4 -996.59 -74.59 -11.57 -4.36 -7.51 -1.22 -7.43
ROA(%) 3.47 -4.47 -10.38 -18.51 -17.02 -11.69 -6.33 -5.55 -6.08 -4.24 -8.18
ROE(%) 10.81 -15.28 -47.63 -238.83 0 0 0 0 0 0 0
ROCE(%) 11.47 0.66 -5.63 -16.15 -26.11 -14.2 -12.94 -5.25 -11.72 -11.85 -34.2
Receivable days 59.9 64.67 93.88 115.61 3947.59 393.33 132.34 86.11 71.19 20.95 20.74
Inventory Days 77.97 87.32 155.02 250.12 8802.89 1041.66 480.06 353.55 480.99 281.42 249.78
Payable days 76.63 77.47 124.1 163.41 903.17 955.04 549.44 437.1 551.83 347.38 304.48
PER(x) 2.69 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0.28 0.17 0.11 -2.27 -0.08 0 -0.01 -0.01 -0.02 -0.16 -0.06
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.79 0.6 1.06 1.31 53.47 7.4 3 2.19 2.83 1.67 1.36
EV/Core EBITDA(x) 5.31 13 -185.87 -7.84 -5.37 -17.59 -27.42 59.12 -92.84 -285.77 -18.29
Net Sales Growth(%) 28.84 23.72 -22.23 -16.17 -97.55 689.37 119.57 34.01 -23.79 81.09 12.85
EBIT Growth(%) 81.59 -93.6 -1019.81 -177.03 -27.94 57.92 25.06 65.61 -85.18 17.93 -110.63
PAT Growth(%) 53.99 -249.49 -152.59 -84.7 16.16 39.43 49.11 18.66 -0.88 31.81 -91.29
EPS Growth(%) 53.99 -216.79 -152.59 -59.79 16.16 39.43 49.11 18.66 -0.88 31.81 -91.29
Debt/Equity(x) 1.65 1.66 3.89 -124.1 -4.02 -2.53 -2.09 -1.82 -1.59 -1.45 -1.25
Current Ratio(x) 1.2 0.97 1.36 1 0.73 0.59 0.53 0.44 0.4 0.38 0.35
Quick Ratio(x) 0.65 0.51 0.61 0.39 0.32 0.21 0.19 0.12 0.08 0.07 0.07
Interest Cover(x) 1.91 0.08 -0.71 -1.65 -18.83 -1.94 -33.74 -0.7 -3.06 -9.76 -872.87
Total Debt/Mcap(x) 5.97 9.5 33.81 54.75 51.89 0 180.06 229.21 81.29 8.94 20.23

Ankit Metal & Power Shareholding Pattern

# Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Mar 2024
Promoter 71.02 71.02 71.02 71.02 71.02 71.02 71.02 71.02 71.02 71.02
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 28.98 28.98 28.98 28.98 28.98 28.98 28.98 28.98 28.98 28.98
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Ankit Metal & Power News

Ankit Metal & Power Pros & Cons

Pros

  • Debtor days have improved from 347.38 to 304.48days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 0% over the last 3 years.
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