Market Cap ₹133 Cr.
Stock P/E 35.5
P/B 3.8
Current Price ₹288.7
Book Value ₹ 76.2
Face Value 10
52W High ₹392.6
Dividend Yield 0%
52W Low ₹ 59.2
Garg Furnace Limited, established in December 1973, is a publicly listed company on the Bombay Stock Exchange (BSE) with a legacy spanning over four decades in the steel industry. Operations began in 1974 with a 1-tonne arc furnace, that was later replaced by a 0.5 metric tonne induction melting furnace to enhance technology.The company’s commitment to quality and customer satisfaction is evident through its continuous improvement of the quality management system, ensuring the best quality control and timely deliveries. Governance structure of Garg Furnace Limited includes a mix of family-promoted directors and professionals, ensuring strategic leadership and operational excellence. Company’s shareholding pattern is designed to support its expansion plans while maintaining a stable financial base. Garg Furnace Limited is poised for growth and is actively pursuing opportunities to further cement its position as a leading player in the steel manufacturing sector.
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| #(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 | 36 | 43 | 52 | 48 | 62 | 61 | 53 | 62 | 60 | 65 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 36 | 43 | 52 | 48 | 62 | 61 | 53 | 62 | 60 | 65 |
| Total Expenditure | 35 | 42 | 49 | 45 | 61 | 59 | 53 | 61 | 59 | 63 |
| Operating Profit | 1 | 1 | 3 | 3 | 1 | 2 | 1 | 1 | 1 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 0 | 3 | 2 | 0 | 1 | 1 | 1 | 1 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 1 | 0 | 3 | 2 | 0 | 1 | 1 | 1 | 1 | 2 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | 1 | 0 | 3 | 2 | 0 | 1 | 1 | 1 | 1 | 2 |
| Adjusted Earnings Per Share | 2.1 | 0.9 | 6.6 | 6.2 | 0.9 | 3 | 1.3 | 1.3 | 1.3 | 4.3 |
| #(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 | 194 | 148 | 146 | 90 | 54 | 66 | 112 | 99 | 119 | 179 | 238 | 240 |
| Other Income | 1 | 1 | 1 | 1 | 0 | 5 | 2 | 2 | 0 | 0 | 0 | 0 |
| Total Income | 195 | 149 | 148 | 91 | 54 | 71 | 114 | 100 | 120 | 179 | 238 | 240 |
| Total Expenditure | 185 | 139 | 139 | 95 | 65 | 70 | 118 | 105 | 119 | 171 | 231 | 236 |
| Operating Profit | 9 | 10 | 9 | -5 | -11 | 1 | -4 | -5 | 0 | 8 | 8 | 5 |
| Interest | 6 | 8 | 8 | 7 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -0 | 0 | 11 | 11 | -3 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 1 | 0 | -13 | -14 | -1 | 5 | 4 | -5 | 6 | 6 | 5 |
| Provision for Tax | 1 | 0 | -0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 1 | 1 | 1 | -13 | -14 | -0 | 5 | 4 | -5 | 6 | 6 | 5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 1 | 1 | -13 | -14 | -0 | 5 | 4 | -5 | 6 | 6 | 5 |
| Adjusted Earnings Per Share | 2.3 | 2.3 | 1.3 | -33 | -33.8 | -0.3 | 12.7 | 8.9 | -11.7 | 15.8 | 14.8 | 8.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 33% | 34% | 29% | 2% |
| Operating Profit CAGR | 0% | 0% | 52% | -1% |
| PAT CAGR | 0% | 14% | 0% | 20% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 411% | 118% | 85% | 37% |
| ROE Average | 34% | 15% | 30% | -2% |
| ROCE Average | 24% | 11% | 11% | 6% |
| #(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 | 30 | 31 | 31 | 18 | 4 | 4 | 9 | 13 | 8 | 15 | 21 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 7 | 5 | 17 | 11 | 5 | 5 | 5 | 8 | 7 | 9 | 4 |
| Other Non-Current Liabilities | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 70 | 74 | 99 | 82 | 81 | 73 | 44 | 27 | 29 | 26 | 34 |
| Total Liabilities | 109 | 111 | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 |
| Fixed Assets | 15 | 15 | 25 | 23 | 22 | 21 | 20 | 19 | 14 | 15 | 15 |
| Other Non-Current Assets | 11 | 16 | 11 | 23 | 27 | 22 | 4 | 8 | 5 | 5 | 5 |
| Total Current Assets | 83 | 81 | 112 | 66 | 43 | 40 | 34 | 22 | 24 | 30 | 39 |
| Total Assets | 109 | 111 | 148 | 112 | 92 | 82 | 58 | 48 | 44 | 50 | 59 |
| #(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 | 0 | 2 | 2 | 4 | 2 | 0 | 2 | 0 | 0 | 1 | 2 |
| Cash Flow from Operating Activities | 2 | 11 | 6 | -18 | -1 | 3 | 31 | 23 | 3 | 0 | 8 |
| Cash Flow from Investing Activities | -2 | -5 | -7 | 2 | 0 | -0 | 3 | -0 | -0 | -2 | -4 |
| Cash Flow from Financing Activities | 2 | -6 | 3 | 15 | -1 | -1 | -35 | -23 | -2 | 2 | -6 |
| Net Cash Inflow / Outflow | 2 | -1 | 2 | -2 | -2 | 2 | -2 | -0 | 1 | 1 | -1 |
| Closing Cash & Cash Equivalent | 2 | 2 | 4 | 2 | 0 | 2 | 0 | 0 | 1 | 2 | 1 |
| # | 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) | 2.32 | 2.34 | 1.34 | -33 | -33.81 | -0.32 | 12.74 | 8.94 | -11.74 | 15.77 | 14.82 |
| CEPS(Rs) | 5.53 | 5.64 | 4.2 | -29.5 | -30.41 | 2.95 | 15.9 | 12.22 | -8.05 | 19.11 | 18.34 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 75.46 | 77.8 | 77.73 | 44.73 | 10.93 | 10.64 | 23.35 | 32.97 | 21.15 | 36.75 | 51.63 |
| Core EBITDA Margin(%) | 4.08 | 5.69 | 4.84 | -5.22 | -19.22 | -6.54 | -5.5 | -6.69 | 0.11 | 4.18 | 3.07 |
| EBIT Margin(%) | 3.76 | 5.4 | 4.99 | -5.93 | -21.14 | -1.07 | 5.19 | 4.78 | -3.57 | 3.67 | 2.56 |
| Pre Tax Margin(%) | 0.95 | 0.8 | 0.19 | -13.58 | -22.73 | -2.08 | 4.58 | 3.64 | -3.89 | 3.54 | 2.49 |
| PAT Margin (%) | 0.44 | 0.57 | 0.33 | -13.58 | -22.73 | -0.19 | 4.57 | 3.64 | -3.94 | 3.54 | 2.49 |
| Cash Profit Margin (%) | 1.05 | 1.37 | 1.05 | -12.14 | -20.45 | 1.75 | 5.7 | 4.97 | -2.7 | 4.29 | 3.09 |
| ROA(%) | 0.91 | 0.85 | 0.41 | -10.15 | -13.31 | -0.15 | 7.28 | 6.76 | -10.25 | 13.49 | 10.94 |
| ROE(%) | 3.12 | 3.05 | 1.72 | -53.89 | -121.48 | -3.01 | 74.95 | 31.74 | -43.37 | 54.48 | 33.53 |
| ROCE(%) | 11.53 | 12.1 | 10.05 | -6.49 | -14.64 | -0.92 | 9.24 | 13.33 | -21.98 | 31.76 | 24.17 |
| Receivable days | 97.16 | 129.49 | 161.54 | 238.29 | 235.51 | 157.56 | 55.73 | 37.7 | 30.98 | 21.48 | 21.35 |
| Inventory Days | 22.4 | 29.35 | 30.23 | 45.02 | 41.84 | 37.2 | 45.85 | 51.15 | 33.28 | 28.69 | 24.75 |
| Payable days | 30.45 | 38.5 | 70.89 | 116.66 | 89.66 | 45.48 | 20.13 | 26.62 | 25 | 17.35 | 14.39 |
| PER(x) | 4.41 | 8.09 | 5.94 | 0 | 0 | 0 | 0 | 1.47 | 0 | 2.38 | 2.76 |
| Price/Book(x) | 0.14 | 0.24 | 0.1 | 0.25 | 0.87 | 1 | 0 | 0.4 | 1.17 | 1.02 | 0.79 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.23 | 0.33 | 0.36 | 0.86 | 1.46 | 1.14 | 0.38 | 0.15 | 0.14 | 0.13 | 0.07 |
| EV/Core EBITDA(x) | 4.85 | 4.77 | 5.8 | -17 | -7 | 126.69 | -9.8 | -2.93 | 43.35 | 2.91 | 2.37 |
| Net Sales Growth(%) | -0.02 | -23.69 | -1.14 | -38.51 | -40.55 | 22.67 | 70.31 | -11.9 | 21.14 | 49.64 | 33.4 |
| EBIT Growth(%) | 16.98 | 12.1 | -10.43 | -172.33 | -118.38 | 94.3 | 907.97 | -18.88 | -190.45 | 253.92 | -6.88 |
| PAT Growth(%) | -42.85 | 0.67 | -42.86 | -2570.71 | -2.45 | 99.04 | 4027.73 | -29.83 | -231.33 | 234.38 | -6.06 |
| EPS Growth(%) | -42.85 | 0.67 | -42.86 | -2570.63 | -2.45 | 99.04 | 4027.71 | -29.83 | -231.33 | 234.38 | -6.06 |
| Debt/Equity(x) | 1.42 | 1.38 | 1.72 | 4.19 | 17.05 | 17.17 | 4.14 | 0.7 | 0.92 | 0.7 | 0.23 |
| Current Ratio(x) | 1.18 | 1.09 | 1.14 | 0.81 | 0.53 | 0.54 | 0.77 | 0.81 | 0.85 | 1.17 | 1.16 |
| Quick Ratio(x) | 0.99 | 0.91 | 1.01 | 0.67 | 0.5 | 0.39 | 0.39 | 0.42 | 0.46 | 0.52 | 0.83 |
| Interest Cover(x) | 1.34 | 1.17 | 1.04 | -0.77 | -13.29 | -1.06 | 8.56 | 4.19 | -10.99 | 28.85 | 38.24 |
| Total Debt/Mcap(x) | 10.48 | 5.66 | 16.87 | 16.81 | 19.56 | 17.21 | 0 | 1.76 | 0.78 | 0.68 | 0.29 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.23 | 64.23 | 64.23 | 64.23 | 64.23 | 64.23 | 64.23 | 64.23 | 64.23 | 68.86 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 35.76 | 35.76 | 35.76 | 35.76 | 35.76 | 35.76 | 35.76 | 35.76 | 35.76 | 31.14 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.32 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.46 |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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