Grauer & Weil (I)

₹88.2 -1.2 | 1.4%

WEBSITE BSE:505710 NSE : GRAUER& WEIL 10 May, 16:01

Market Cap ₹3999 Cr.

Stock P/E 28.8

P/B 5

Current Price ₹88.2

Book Value ₹ 17.6

Face Value 1

52W High ₹119

Dividend Yield 0.91%

52W Low ₹ 51.4

Edit Ratio

Grauer & Weil (I) Research see more...

Overview Inc. Year: 1957Industry: Chemicals

Grauer & Weil (India) Ltd is engaged within the manufacture of electroplating, and allied chemical substances and engineering plants to surface coating industry in India. The Company additionally offers primary and intermediatory chemical substances, and paints, enamels, varnishes and oil bound distempers, among others. The Company's segments are Chemical, Engineering, Shoppertainment, Paints, and Oils & lubes. The Chemical section includes floor treatment chemical substances, their intermediates and different speciality chemicals. The Engineering section supplies customized turnkey solutions for electroplating plants and their additives, effluent and waste water remedy plants, and different engineering products, from its plant positioned at Alandi, Pune. The Company also manufactures traditional engineering equipment, including filters, agitation units, tanks and exhaust structures, which can be used within the electroplating enterprise. The Company offers turnkey proposals for diverse sorts of steel finishing programs.

Grauer & Weil (I) Share Price

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Peer Comparison

Grauer & Weil (I) 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	170	203	261	199	205	251	327	200	250	285
Other Income	3	3	5	4	4	5	5	6	7	9
Total Income	173	206	265	203	209	256	332	206	258	294
Total Expenditure	144	169	237	159	166	204	297	152	202	230
Operating Profit	29	37	29	44	43	52	35	54	56	64
Interest	0	0	2	0	-0	1	1	0	0	0
Depreciation	5	5	5	5	5	5	5	5	5	5
Exceptional Income / Expenses	0	-0	3	0	0	0	-1	0	0	0
Profit Before Tax	24	32	25	39	38	47	29	48	51	58
Provision for Tax	6	8	7	10	10	12	7	11	13	15
Profit After Tax	18	23	18	29	28	34	22	37	37	43
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	18	23	18	29	28	34	22	37	37	43
Adjusted Earnings Per Share	0.4	0.5	0.4	0.6	0.6	0.8	0.5	0.8	0.8	0.9

Grauer & Weil (I) 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	336	387	419	425	432	497	601	619	605	768	981	1062
Other Income	3	3	1	4	4	11	12	12	15	18	22	27
Total Income	339	390	420	429	435	509	613	631	620	786	1003	1090
Total Expenditure	287	327	343	347	346	400	495	522	505	659	828	881
Operating Profit	52	64	77	82	89	108	117	109	116	127	175	209
Interest	17	17	14	10	3	3	2	3	3	3	3	1
Depreciation	11	12	16	14	14	15	15	19	18	20	20	20
Exceptional Income / Expenses	0	0	0	-2	0	0	-6	9	0	2	-1	-1
Profit Before Tax	24	35	46	56	73	91	94	95	94	107	152	186
Provision for Tax	4	5	13	14	19	27	30	20	25	28	39	46
Profit After Tax	20	30	33	42	54	64	64	76	69	79	113	139
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	20	30	33	42	54	64	64	76	69	79	113	139
Adjusted Earnings Per Share	0.4	0.7	0.7	0.9	1.2	1.4	1.4	1.7	1.5	1.7	2.5	3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	28%	17%	15%	11%
Operating Profit CAGR	38%	17%	10%	13%
PAT CAGR	43%	14%	12%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	49%	51%	30%	39%
ROE Average	18%	16%	16%	17%
ROCE Average	24%	21%	22%	22%

Grauer & Weil (I) 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	167	193	217	251	300	353	401	445	514	582	679
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	58	37	11	0	0	1	1	0	0	0	0
Other Non-Current Liabilities	37	40	42	47	43	49	49	48	51	50	53
Total Current Liabilities	150	152	140	99	111	103	131	149	185	191	222
Total Liabilities	412	423	410	397	454	507	581	642	750	824	954
Fixed Assets	231	225	216	210	212	206	231	241	238	247	244
Other Non-Current Assets	19	23	18	16	9	9	24	21	13	25	72
Total Current Assets	162	175	176	171	233	291	326	380	499	552	638
Total Assets	412	423	410	397	454	507	581	642	750	824	954

Grauer & Weil (I) 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	5	5	5	13	36	22	39	33	105	117
Cash Flow from Operating Activities	57	49	55	77	87	71	33	84	117	44	114
Cash Flow from Investing Activities	-17	-6	-9	-8	-54	-61	-13	-53	-43	-17	-111
Cash Flow from Financing Activities	-38	-43	-46	-62	-10	-25	-2	-37	-3	-15	-24
Net Cash Inflow / Outflow	1	0	0	8	23	-14	17	-5	71	12	-21
Closing Cash & Cash Equivalent	5	5	5	13	36	22	39	33	105	117	96

Grauer & Weil (I) 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)	0.44	0.67	0.74	0.93	1.2	1.41	1.41	1.67	1.52	1.74	2.49
CEPS(Rs)	0.68	0.92	1.1	1.24	1.5	1.74	1.75	2.09	1.92	2.17	2.93
DPS(Rs)	0.12	0.16	0.22	0.28	0.4	0.6	0.6	0.5	0.5	0.65	0.8
Book NAV/Share(Rs)	3.69	4.27	4.79	5.53	6.62	7.8	8.85	9.81	11.34	12.85	14.98
Core EBITDA Margin(%)	12.1	13.15	15.17	15.2	16.22	17.41	16.18	14.41	15.39	13.08	14.14
EBIT Margin(%)	10.15	11.28	12.11	12.82	14.29	16.75	14.63	14.62	14.81	13.16	14.27
Pre Tax Margin(%)	5.87	7.65	9.28	10.91	13.81	16.29	14.39	14.14	14.37	12.77	14.04
PAT Margin (%)	4.88	6.56	6.71	8.26	10.28	11.46	9.76	11.24	10.49	9.42	10.43
Cash Profit Margin (%)	7.59	9.05	10.01	11.04	12.91	14.15	12.13	14.06	13.3	11.76	12.26
ROA(%)	4.96	7.26	8.01	10.44	12.74	13.28	11.74	12.4	9.89	10.01	12.7
ROE(%)	12.36	16.8	16.26	18.01	19.67	19.51	16.93	17.93	14.35	14.37	17.91
ROCE(%)	14.41	18.07	20.95	23.22	25.2	27.37	24.45	22.26	19.47	19.39	23.76
Receivable days	68.47	67.67	66.95	60.27	53.04	53.31	55.81	61.06	67.06	56.05	52.87
Inventory Days	51.05	49.42	48.01	47.59	46.01	45.23	45.26	54.48	56.03	51.51	45.56
Payable days	73.52	70.5	70.66	68.53	73.76	75	66.38	82.35	102.28	85.58	73.81
PER(x)	4.58	4.45	9.78	12.78	17.15	19.76	17.46	10.12	12.92	16.85	19.77
Price/Book(x)	0.54	0.7	1.5	2.15	3.1	3.57	2.78	1.73	1.73	2.28	3.29
Dividend Yield(%)	3	2.69	1.53	1.18	0.98	1.08	1.22	1.48	1.28	1.11	0.81
EV/Net Sales(x)	0.61	0.58	0.93	1.3	2.02	2.31	1.72	1.05	1.08	1.42	2
EV/Core EBITDA(x)	3.9	3.54	5.06	6.73	9.77	10.61	8.81	5.97	5.66	8.56	11.22
Net Sales Growth(%)	0.64	15.19	8.06	1.48	1.55	15.24	20.87	3.05	-2.26	26.9	27.71
EBIT Growth(%)	-15.23	26.36	15.63	8.5	15.29	23.69	2.72	3.06	-1.6	13.36	40.37
PAT Growth(%)	-15.41	52.96	10.11	26.21	28.69	17.68	0.15	18.74	-9.27	14.48	43.39
EPS Growth(%)	-15.41	52.96	10.11	26.21	28.69	17.68	0.15	18.74	-9.27	14.48	43.39
Debt/Equity(x)	0.71	0.5	0.31	0.11	0.07	0.02	0.05	0.04	0.04	0.03	0.03
Current Ratio(x)	1.08	1.15	1.25	1.72	2.11	2.81	2.49	2.55	2.7	2.89	2.87
Quick Ratio(x)	0.66	0.74	0.77	1.07	1.48	2.15	1.78	1.82	2.19	2.14	2.3
Interest Cover(x)	2.37	3.11	4.28	6.73	29.77	36.55	59.21	30.25	34.03	33.96	61.05
Total Debt/Mcap(x)	1.31	0.72	0.21	0.05	0.02	0.01	0.02	0.03	0.02	0.01	0.01

Grauer & Weil (I) Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	69.05	69.05	69.05	69.05	69.05	69.05	69.05	69.05	69.05	69.05
FII	0.62	0.71	1.04	1.14	1.24	1.4	1.21	1.21	1.07	0.95
DII	0.02	0.02	0.02	0.08	0.11	0.18	0.02	0.02	0.02	0.02
Public	30.31	30.22	29.9	29.74	29.6	29.37	29.73	29.73	29.87	29.99
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	15.65	15.65	15.65	15.65	15.65	15.65	15.65	15.65	15.65	15.65
FII	0.14	0.16	0.24	0.26	0.28	0.32	0.27	0.27	0.24	0.22
DII	0	0	0	0.02	0.02	0.04	0	0	0	0
Public	6.87	6.85	6.78	6.74	6.71	6.66	6.74	6.74	6.77	6.8
Others	0	0	0	0	0	0	0	0	0	0
Total	22.67	22.67	22.67	22.67	22.67	22.67	22.67	22.67	22.67	22.67

Pros

Debtor days have improved from 85.58 to 73.81days.
Company is almost debt free.

Cons

Stock is trading at 5 times its book value.

* 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.