Hindustan Composites

₹419.8 2.6 | 0.6%

WEBSITE BSE:509635 NSE : HIND.COMPOSI 18 May, 12:50

Market Cap ₹620 Cr.

Stock P/E 17.2

P/B 0.7

Current Price ₹419.8

Book Value ₹ 645.4

Face Value 5

52W High ₹494.1

Dividend Yield 0.48%

52W Low ₹ 294.8

Edit Ratio

Hindustan Composites Research see more...

Overview Inc. Year: 1964Industry: Auto Ancillary

Hindustan Composites Ltd is engaged inside the manufacturing and advertising and marketing of fiber based friction substances. The Company is also engaged in funding and treasury operation. It's segments include Investment and Composite Products. It gives friction materials, along with automobile brake linings, automobile roll linings, automotive clutch facings and ceramic buttons, automobile disc brake pads, railway brake blocks, friction sheets and industrial roll linings. Its commercial thrust bearing and insulation merchandise consist of millboard sheets and millboard discs. Its clutch facings are utilized in a number of vehicles, including passenger automobiles and light industrial vehicles. Its industrial roll linings are used in numerous applications, along with elevators, cranes, winches, hoists, drop hammers and urban mixers. It caters to a range of sectors, including railways, engineering, mining, aerospace, steel, chemical, fertilizer, atomic energy, electrical, oil exploration and automobile.

Hindustan Composites Share Price

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Peer Comparison

Hindustan Composites 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	50	66	67	73	62	69	78	76	72	72
Other Income	0	0	0	1	0	0	0	0	1	0
Total Income	51	66	67	74	62	69	78	76	72	72
Total Expenditure	44	53	60	59	57	61	65	61	58	61
Operating Profit	7	14	7	14	5	9	13	15	14	11
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	2	2	2	2	2	2	2	3
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	5	11	5	12	3	7	11	12	12	8
Provision for Tax	1	1	1	2	0	1	1	2	2	2
Profit After Tax	4	10	4	10	3	5	10	10	10	6
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	4	10	4	10	3	5	10	10	10	6
Adjusted Earnings Per Share	2.5	6.8	3	6.7	1.8	3.7	6.4	6.8	6.7	4.4

Hindustan Composites Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	153	166	199	197	179	186	233	283	298
Other Income	2	1	0	2	0	6	0	1	1
Total Income	155	167	200	199	180	192	233	284	298
Total Expenditure	125	127	162	172	160	158	200	242	245
Operating Profit	31	40	37	27	20	34	33	41	53
Interest	0	0	0	0	0	0	0	0	0
Depreciation	7	8	9	9	10	9	9	9	9
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0
Profit Before Tax	24	32	28	18	10	24	25	33	43
Provision for Tax	3	7	3	-1	-2	4	3	5	7
Profit After Tax	21	25	25	19	12	20	22	27	36
Adjustments	-2	-2	-2	-1	-2	0	0	0	0
Profit After Adjustments	19	23	23	18	10	20	22	27	36
Adjusted Earnings Per Share	12.6	15.7	15.6	11.9	7.1	13.4	14.6	18.6	24.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	21%	16%	7%	0%
Operating Profit CAGR	24%	27%	2%	0%
PAT CAGR	23%	31%	2%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	41%	14%	15%	10%
ROE Average	3%	3%	2%	3%
ROCE Average	4%	3%	3%	3%

Hindustan Composites Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	631	688	733	754	761	817	917	921
Minority's Interest	0	0	0	0	0	0	0	0
Borrowings	3	3	2	1	0	0	0	0
Other Non-Current Liabilities	36	56	51	51	49	59	37	32
Total Current Liabilities	28	30	40	41	41	47	49	48
Total Liabilities	699	776	825	847	851	923	1004	1001
Fixed Assets	120	124	122	125	122	116	113	111
Other Non-Current Assets	468	562	586	589	605	655	779	776
Total Current Assets	110	90	117	133	123	153	111	114
Total Assets	699	776	825	847	851	923	1004	1001

Hindustan Composites Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	3	4	1	1	7	7	14
Cash Flow from Operating Activities	6	10	50	3	3	9	22	16
Cash Flow from Investing Activities	-4	-8	-52	-2	5	0	-13	-21
Cash Flow from Financing Activities	-1	-1	-1	-3	-1	-9	-3	-2
Net Cash Inflow / Outflow	1	1	-2	-1	6	1	7	-8
Closing Cash & Cash Equivalent	3	4	1	1	7	7	14	6

Hindustan Composites Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	12.64	15.72	15.58	11.88	7.09	13.35	14.63	18.6
CEPS(Rs)	18.45	22.07	23.03	18.79	14.58	19.36	20.42	24.51
DPS(Rs)	0.5	0.25	0.5	2	2	2	2	2
Book NAV/Share(Rs)	427.56	465.87	496.03	510.4	515.3	553.19	621.07	623.5
Core EBITDA Margin(%)	16.93	21.36	18.09	12.73	10.89	14.87	14.18	14.36
EBIT Margin(%)	14.37	17.73	14.06	9.39	5.87	12.75	10.66	11.58
Pre Tax Margin(%)	14.24	17.62	13.91	9.27	5.75	12.64	10.62	11.53
PAT Margin (%)	12.32	13.7	12.48	9.66	6.71	10.6	9.29	9.72
Cash Profit Margin (%)	16.21	17.95	16.72	14.11	12	15.37	12.97	12.81
ROA(%)	2.97	3.37	3.17	2.27	1.42	2.22	2.24	2.74
ROE(%)	3.28	3.77	3.57	2.56	1.59	2.5	2.49	2.99
ROCE(%)	3.8	4.84	4	2.47	1.38	2.99	2.86	3.56
Receivable days	57.74	53.5	54.89	63.73	69.23	73.89	61.53	49.32
Inventory Days	14.52	15.8	18.05	21.71	25.28	23.97	19.91	17.44
Payable days	100.57	125.68	142.97	151.95	175.93	183.85	151.6	119.36
PER(x)	22.49	38	25.25	17.95	15.26	19.84	18.12	13.14
Price/Book(x)	0.67	1.28	0.79	0.42	0.21	0.48	0.43	0.39
Dividend Yield(%)	0.12	0.03	0.13	0.94	1.85	0.76	0.75	0.82
EV/Net Sales(x)	2.75	5.31	2.93	1.61	0.88	2.09	1.67	1.27
EV/Core EBITDA(x)	13.73	22.12	15.69	11.67	7.91	11.5	11.66	8.69
Net Sales Growth(%)	0	8.49	19.86	-1.29	-8.71	3.65	25.04	21.51
EBIT Growth(%)	0	33.23	-11.17	-35.47	-42.91	125.11	4.51	31.99
PAT Growth(%)	0	20.09	1.96	-25.12	-36.66	63.89	9.52	27.18
EPS Growth(%)	0	24.32	-0.89	-23.73	-40.31	88.31	9.52	27.18
Debt/Equity(x)	0.01	0.01	0.01	0	0.01	0	0	0
Current Ratio(x)	3.95	3	2.91	3.23	3.02	3.22	2.25	2.37
Quick Ratio(x)	3.71	2.7	2.63	2.93	2.71	2.97	1.97	2.09
Interest Cover(x)	108.47	163.02	92.8	82.88	47.23	121.09	317.85	258.27
Total Debt/Mcap(x)	0.01	0.01	0.01	0.01	0.04	0	0	0

Hindustan Composites Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97	74.97
FII	0	0	0	0	0	0	0	0.04	0.03	0
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Public	25.01	25.01	25.01	25.01	25.01	25.01	25.01	24.97	24.98	25.01
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	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37
Others	0	0	0	0	0	0	0	0	0	0
Total	1.48	1.48	1.48	1.48	1.48	1.48	1.48	1.48	1.48	1.48

Pros

Stock is trading at 0.7 times its book value
Debtor days have improved from 151.6 to 119.36days.
Company is almost debt free.

Cons

Company has a low return on equity of 3% over the last 3 years.
The company has delivered a poor profit growth of 1% 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.