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Consolidated Standalone

Bajaj Steel Inds.

₹1262.2 -1.7 | 0.1%

Market Cap ₹656 Cr.

Stock P/E 12.2

P/B 2.1

Current Price ₹1262.2

Book Value ₹ 591.7

Face Value 5

52W High ₹1626.9

Dividend Yield 0.24%

52W Low ₹ 936.1

Edit Ratio

Bajaj Steel Inds. Research see more...

Overview Inc. Year: 1961Industry: Engineering - Industrial Equipments

Bajaj Steel Industries Ltd is a cotton ginning and pressing equipment producer in India. It is also engaged in processing, manufacturing, selling master batches. The Company operates thru 2 segments: metallic & associated merchandise and plastic & related merchandise. It manufactures delinting and decorticating equipment, electric panels, mechanical conveyors and elevators, pneumatic conveying, dirt/waste handling structures, humidification systems, hydraulic cylinders, energy packs and manifolds for various applications. It affords structural fabrication for homes and machinery applications. It produces machinery for all cotton ginning technology, including double curler, saw gin and rotobar; all Pressing technologies, which include down packing, up packing and horizontal packing; seed cleansing; machining, and numerous other engineering activities. The Company is likewise concerned in cotton buying and selling.

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Bajaj Steel Inds. Share Price

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Peer Comparison

Bajaj Steel Inds. Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 154 94 70 93 159 161 121 98 153 126
Other Income 2 5 3 1 2 2 10 1 1 1
Total Income 156 99 73 94 161 163 132 99 154 127
Total Expenditure 131 91 60 78 130 132 102 84 128 109
Operating Profit 25 8 13 15 31 31 30 16 26 18
Interest 2 2 3 1 1 2 3 1 1 1
Depreciation 2 2 3 2 2 2 3 2 2 3
Exceptional Income / Expenses 0 0 0 0 0 0 5 0 0 0
Profit Before Tax 22 4 7 12 27 27 28 13 23 13
Provision for Tax 6 1 2 5 5 6 11 3 6 3
Profit After Tax 16 3 6 7 22 21 17 10 17 10
Adjustments 0 0 0 -0 0 -0 0 0 -0 0
Profit After Adjustments 16 3 6 7 22 21 17 10 17 10
Adjusted Earnings Per Share 31.3 6.4 10.6 13.9 42.3 40.7 32.9 18.3 32.7 19.3

Bajaj Steel Inds. 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 285 414 336 308 243 248 377 415 511 437 533 498
Other Income 3 5 4 7 3 4 5 9 10 13 15 13
Total Income 289 419 340 315 246 251 382 424 521 450 549 512
Total Expenditure 271 386 318 298 241 226 346 377 418 385 442 423
Operating Profit 17 33 22 16 5 25 36 47 103 65 106 90
Interest 7 7 9 9 9 9 10 9 9 8 7 6
Depreciation 6 9 13 11 8 6 4 6 7 9 10 10
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 5 5
Profit Before Tax 5 17 1 -4 -12 10 23 32 87 49 94 77
Provision for Tax 1 7 2 -1 -3 -1 9 8 21 12 26 23
Profit After Tax 4 11 -1 -3 -9 11 14 24 66 36 68 54
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 11 -1 -3 -9 11 14 24 66 36 68 54
Adjusted Earnings Per Share 8 22.4 -2.1 -6.1 -19.2 24.4 29.2 50.3 126.2 70.2 129.8 103.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 22% 9% 17% 6%
Operating Profit CAGR 63% 31% 33% 20%
PAT CAGR 89% 42% 44% 33%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -6% 30% 58% 27%
ROE Average 28% 32% 28% 15%
ROCE Average 35% 36% 31% 19%

Bajaj Steel Inds. 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 61 70 67 65 56 68 81 102 171 207 274
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 2 34 33 38 36 30 34 37 34 27 9
Other Non-Current Liabilities 3 3 3 3 -2 -4 1 5 8 11 9
Total Current Liabilities 126 115 128 132 112 118 139 121 152 147 157
Total Liabilities 191 222 232 238 202 213 255 264 365 391 448
Fixed Assets 33 56 54 52 45 51 54 72 80 86 111
Other Non-Current Assets 28 9 13 17 16 4 5 3 5 18 27
Total Current Assets 130 156 164 170 141 158 195 190 280 287 310
Total Assets 191 222 232 238 202 213 255 264 365 391 448

Bajaj Steel Inds. 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 22 23 31 26 24 18 26 28 40 99 138
Cash Flow from Operating Activities 14 3 -5 10 -7 6 14 41 89 55 27
Cash Flow from Investing Activities -13 -10 -14 -10 -0 2 -7 -21 -12 -20 -52
Cash Flow from Financing Activities -0 15 14 -2 1 0 -5 -8 -19 4 -22
Net Cash Inflow / Outflow 1 8 -5 -2 -7 9 2 12 59 39 -47
Closing Cash & Cash Equivalent 23 31 26 24 18 26 28 40 99 138 90

Bajaj Steel Inds. 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) 8 22.42 -2.14 -6.13 -19.21 24.36 29.17 50.3 126.15 70.18 129.82
CEPS(Rs) 20.72 41.32 24.54 18.24 -1.36 36.81 37.3 63.58 139.74 87.39 148.75
DPS(Rs) 1.5 2 2 0 0 1.5 2 2 3 2 3
Book NAV/Share(Rs) 128.84 148.71 143.55 137.24 118.49 145.43 171.74 216.94 329.67 397.73 526.1
Core EBITDA Margin(%) 4.47 6.24 4.7 2.82 0.69 8.8 8.28 9.07 18.14 11.89 17.12
EBIT Margin(%) 3.64 5.33 2.51 1.48 -1.16 7.88 8.61 9.73 18.78 12.88 18.98
Pre Tax Margin(%) 1.54 3.77 0.2 -1.11 -4.59 4.23 6.03 7.64 17.02 11.15 17.63
PAT Margin (%) 1.19 2.32 -0.27 -0.86 -3.41 4.62 3.64 5.7 12.84 8.35 12.66
Cash Profit Margin (%) 3.09 4.27 3.12 2.54 -0.24 6.99 4.65 7.21 14.22 10.4 14.5
ROA(%) 1.97 5.11 -0.44 -1.23 -4.1 5.52 5.87 9.11 20.84 9.65 16.09
ROE(%) 6.21 16.16 -1.46 -4.37 -15.02 18.46 18.39 25.88 47.99 19.3 28.1
ROCE(%) 10.08 19.34 6.44 3.36 -2.18 13.63 21.25 24.62 48.77 23.16 35.26
Receivable days 45.67 33.47 45.64 51.52 60.74 67.11 50.69 46.89 42.65 38.22 22.51
Inventory Days 62.8 46.78 64.37 77.62 91.71 84.76 65.25 67.1 54.19 70.9 68.13
Payable days 73.93 54.26 72.26 93.61 116.76 84.4 58.81 70.5 92.53 99.15 93.17
PER(x) 5.58 4.75 0 0 0 3.65 4.57 1.63 3.4 9.01 8.22
Price/Book(x) 0.35 0.72 0.58 0.53 0.6 0.61 0.78 0.38 1.3 1.59 2.03
Dividend Yield(%) 3.36 1.88 2.41 0 0 1.69 1.5 2.45 0.7 0.32 0.28
EV/Net Sales(x) 0.18 0.21 0.29 0.29 0.4 0.39 0.29 0.16 0.34 0.58 0.94
EV/Core EBITDA(x) 2.95 2.59 4.45 5.51 18.26 3.81 3.03 1.46 1.7 3.85 4.72
Net Sales Growth(%) 0 45.08 -18.94 -8.26 -21.15 2 52.17 10.02 23.26 -14.5 22.06
EBIT Growth(%) 0 111.06 -61.65 -46.4 -161.84 733.46 66.38 24.29 137.86 -41.34 79.81
PAT Growth(%) 0 180.16 -109.54 -186.74 -213.13 226.85 19.74 72.45 177.46 -44.37 84.98
EPS Growth(%) 0 180.16 -109.54 -186.74 -213.13 226.85 19.74 72.45 150.78 -44.37 84.98
Debt/Equity(x) 0.88 0.95 1.25 1.25 1.46 1.19 0.93 0.68 0.29 0.28 0.13
Current Ratio(x) 1.03 1.36 1.28 1.28 1.26 1.33 1.4 1.57 1.85 1.95 1.98
Quick Ratio(x) 0.6 0.82 0.75 0.71 0.74 0.85 0.85 0.95 1.34 1.32 1.3
Interest Cover(x) 1.74 3.42 1.09 0.57 -0.34 2.16 3.33 4.65 10.7 7.43 14.02
Total Debt/Mcap(x) 2.54 1.33 2.16 2.36 2.45 1.94 1.2 1.81 0.23 0.17 0.07

Bajaj Steel Inds. Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 42.73 42.73 42.73 42.73 45.76 47.69 47.69 47.69 47.78 48.39
FII 0 0 0 0 0 0.07 0.07 0.07 0.07 0.07
DII 0 0 0 0 0 0 0 0 0 0
Public 57.27 57.27 57.27 57.27 54.23 52.24 52.24 52.24 52.16 51.54
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 43% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 32%
  • Debtor days have improved from 99.15 to 93.17days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 48.39%.

* 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.

Bajaj Steel Inds. News

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