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Gandhi Spl. Tubes

₹824.5 22.1 | 2.8%

Market Cap ₹1002 Cr.

Stock P/E 19.0

P/B 4.8

Current Price ₹824.5

Book Value ₹ 172.6

Face Value 5

52W High ₹935

Dividend Yield 1.46%

52W Low ₹ 504

Gandhi Spl. Tubes Research see more...

Overview Inc. Year: 1985Industry: Steel & Iron Products

Gandhi Special Tubes Ltd is engaged in production and advertising of welded and seamless metallic tubes of different sizes and specifications, and cold formed coupling nuts. The Company is engaged within the enterprise of manufacturing cars components, cold formed tube nuts for fuel injection tube assemblies, hydraulic and other tube assemblies. Its segments consist of Steel Tubes, Wind Power and Others. Its merchandise are provided to the original equipment producers of the automotive section, farm gadget manufacturers, construction equipment manufacturers, refrigerator producers and other engineering industries. It additionally operates within the power area via windmills established in Maharashtra and Gujarat. Its products are advertised throughout India and are also exported overseas, consisting of Germany, the UK and South East Asian countries. It has a plant and windmills in Gujarat and Maharashtra.

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Gandhi Spl. Tubes Share Price

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Quarterly Price

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Gandhi Spl. Tubes 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 37 35 32 44 52 37 35 46 44 41
Other Income 2 1 1 0 2 2 2 4 3 3
Total Income 39 36 33 44 54 39 36 50 47 44
Total Expenditure 23 24 22 27 33 25 22 29 28 26
Operating Profit 15 12 11 17 21 14 15 21 18 18
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 15 11 10 16 20 13 14 20 18 18
Provision for Tax 4 3 2 4 5 3 3 5 4 4
Profit After Tax 11 8 8 12 15 10 10 16 13 13
Adjustments -0 0 0 -0 0 0 0 -0 0 0
Profit After Adjustments 11 8 8 12 15 10 10 16 13 13
Adjusted Earnings Per Share 8.4 6.8 6.9 9.8 12.6 7.9 8.6 13 10.9 10.9

Gandhi Spl. Tubes 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 96 84 92 91 98 114 123 81 114 137 167 166
Other Income 3 8 4 3 10 8 8 6 6 5 5 12
Total Income 99 91 96 94 107 122 131 87 120 142 173 177
Total Expenditure 63 57 69 64 65 73 77 57 69 88 107 105
Operating Profit 35 34 28 30 43 49 53 30 51 54 66 72
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 5 5 5 4 4 4 4 3 3 3 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 31 29 23 25 38 45 50 26 48 50 63 70
Provision for Tax 9 12 7 7 7 12 11 5 11 12 16 16
Profit After Tax 22 17 16 19 31 34 39 21 36 39 47 52
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 22 17 16 19 31 34 39 21 36 39 47 52
Adjusted Earnings Per Share 15 11.8 10.7 12.6 21 24.3 28 16.5 28 31.7 39 43.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 22% 27% 8% 6%
Operating Profit CAGR 22% 30% 6% 7%
PAT CAGR 21% 31% 7% 8%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 62% 39% 19% 18%
ROE Average 29% 25% 22% 17%
ROCE Average 38% 33% 28% 23%

Gandhi Spl. Tubes 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 151 158 160 165 188 177 201 147 172 147 182
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 7 9 10 10 12 11 12 10 9 10 9
Total Current Liabilities 6 6 4 5 7 9 8 5 11 10 11
Total Liabilities 164 172 174 180 207 197 221 162 192 166 202
Fixed Assets 52 64 63 59 55 51 51 48 45 47 44
Other Non-Current Assets 49 43 61 64 87 81 73 39 29 39 63
Total Current Assets 63 65 50 57 64 65 97 75 118 80 96
Total Assets 164 172 174 180 207 197 221 162 192 166 202

Gandhi Spl. Tubes 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 4 3 2 2 3 3 5 4 2 3 2
Cash Flow from Operating Activities 27 14 15 29 21 32 31 19 32 42 45
Cash Flow from Investing Activities -18 -4 -1 -14 -5 13 -17 56 -20 22 -7
Cash Flow from Financing Activities -10 -10 -13 -13 -16 -44 -15 -76 -12 -64 -12
Net Cash Inflow / Outflow -1 -1 0 1 0 1 -1 -1 1 -0 26
Closing Cash & Cash Equivalent 3 2 2 3 3 5 4 2 3 2 28

Gandhi Spl. Tubes 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) 15.01 11.78 10.75 12.62 20.96 24.29 27.96 16.54 27.98 31.74 38.95
CEPS(Rs) 17.96 15.13 14.11 15.82 23.99 27.09 30.63 19.3 30.54 34.41 41.53
DPS(Rs) 6 6 7.5 7.5 9 9 9 9 9 10 12
Book NAV/Share(Rs) 102.47 107.23 108.91 112.51 127.66 128.26 145.49 113.46 133.1 121.11 149.85
Core EBITDA Margin(%) 30.31 28.14 22.74 26.38 30.24 35.07 37.24 29.4 39.46 35.91 36.24
EBIT Margin(%) 28.76 31.33 22.23 24.71 34.92 38.79 40.51 32.23 41.96 37.03 37.62
Pre Tax Margin(%) 28.71 31.25 22.21 24.7 34.9 38.78 40.48 32.16 41.9 36.85 37.54
PAT Margin (%) 20.59 18.56 15.39 18.17 28.24 28.62 31.43 26.41 31.85 28.15 28.27
Cash Profit Margin (%) 24.64 23.86 20.21 22.78 32.33 31.93 34.43 30.8 34.75 30.52 30.14
ROA(%) 14 10.29 9.13 10.48 15.92 16.61 18.47 11.17 20.42 21.5 25.68
ROE(%) 15.25 11.23 9.94 11.4 17.45 18.4 20.42 12.3 22.7 24.17 28.75
ROCE(%) 21.29 18.95 14.37 15.5 21.58 24.94 26.32 15.01 29.91 31.79 38.27
Receivable days 53.41 59.24 49.76 51.48 54.21 55.6 51.72 67.87 64.61 56.16 37.68
Inventory Days 73.11 87.99 91.4 80.11 69.19 69.1 69.75 117.62 74.28 59.63 51.74
Payable days 19.2 22.01 16.91 11.73 10.82 12.36 14.38 16.76 13.27 11.6 8.55
PER(x) 10.18 11.93 23.58 15.94 15.94 14.99 12.41 12.39 9.51 11.01 12.59
Price/Book(x) 1.49 1.31 2.33 1.79 2.62 2.84 2.39 1.81 2 2.88 3.27
Dividend Yield(%) 3.93 4.27 2.96 3.73 2.69 2.47 2.59 4.39 3.38 2.86 2.45
EV/Net Sales(x) 2.31 2.45 4.03 3.21 5 4.38 3.87 3.25 3 3.08 3.39
EV/Core EBITDA(x) 6.31 6 13.34 9.78 11.46 10.1 8.9 8.86 6.69 7.82 8.59
Net Sales Growth(%) -9.94 -12.94 10.02 -0.79 7.02 16.77 7.88 -34.15 40.26 20.67 22.25
EBIT Growth(%) -26.26 -5.21 -21.88 10.53 51.01 19.44 9.45 -47.6 82.58 6.5 24.2
PAT Growth(%) -26.01 -21.55 -8.74 17.43 66.07 8.96 15.09 -44.67 69.15 6.68 22.74
EPS Growth(%) -26.01 -21.55 -8.74 17.43 66.07 15.89 15.09 -40.82 69.15 13.41 22.74
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 10.1 11.54 12.45 12.43 9.28 7.24 11.89 15.17 10.7 8.33 8.46
Quick Ratio(x) 6.69 7.37 5.53 8.73 5.76 5.02 8.58 10.05 8.79 5.87 6.36
Interest Cover(x) 566.09 374.68 1078.07 1608.38 2104.39 2419.84 1364.11 426.28 720.61 207.99 442.79
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Gandhi Spl. Tubes Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 73.37 73.53 73.53 73.53 73.53 73.53 73.53 73.53 73.53 73.53
FII 0.19 0.19 0.19 0.21 0.27 1.27 1.48 1.48 1.48 1.42
DII 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Public 26.42 26.27 26.27 26.25 26.19 25.19 24.98 24.98 24.99 25.04
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 a good return on equity (ROE) track record: 3 Years ROE 25%
  • Debtor days have improved from 11.6 to 8.55days.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.8 times its book value.
  • The company has delivered a poor profit growth of 6% over past five 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.

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