WEBSITE BSE:513532 NSE: PRADEEP MET. Inc. Year: 1982 Industry: Engineering - Industrial Equipments My Bucket: Add Stock
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1. Business Overview
Pradeep Metals Ltd. operates in the Engineering - Industrial Equipments sector in India. Based on its name and industry, the company is likely involved in the manufacturing, fabrication, and supply of metal-based components, parts, and possibly complete industrial equipment. Its core business model would involve designing, engineering, and producing these specialized metal products for other industries. The company primarily makes money by selling these engineered products and equipment to business clients across various industrial sectors that require robust and specialized metal solutions for their operations or infrastructure projects.
2. Key Segments / Revenue Mix
Specific segment details are not available. However, typical segmentation for an industrial equipment company could include:
Product Lines: Manufacturing specific types of metal components (e.g., forgings, castings, custom fabricated parts, valves, pumps, heat exchangers).
End-User Industries: Serving sectors such as Power, Oil & Gas, Chemicals, Pharmaceuticals, Infrastructure, Automotive, or General Manufacturing.
Geographic: Domestic sales versus exports.
Without further data, the exact revenue mix remains undefined.
3. Industry & Positioning
The Indian Engineering - Industrial Equipments industry is characterized by a mix of large integrated players and numerous small-to-medium enterprises (SMEs). It is highly cyclical, driven by capital expenditure (Capex) cycles in client industries and government infrastructure spending. Competition is robust, with domestic players vying against each other and, in some niches, against international manufacturers. Pradeep Metals Ltd.'s positioning would depend on its specific product specializations, technological capabilities, quality certifications, cost-effectiveness, and established customer relationships within its chosen niches. Given the "Metals" in its name, it likely has expertise in metal processing and fabrication.
4. Competitive Advantage (Moat)
Without specific details, potential competitive advantages for Pradeep Metals Ltd. could include:
Specialized Expertise & Technical Know-how: Proficiency in complex metal processing, precision engineering, or niche product manufacturing.
Quality & Reliability: A reputation for producing high-quality, durable, and reliable components critical for industrial applications, potentially backed by specific industry certifications (e.g., ISO, ASME, API).
Customer Relationships & Switching Costs: Long-standing relationships with key industrial clients, offering customized solutions, and becoming an integrated part of their supply chain can create high switching costs.
Cost Efficiency: Efficient manufacturing processes and a localized supply chain could offer a cost advantage in certain product categories.
5. Growth Drivers
Key factors that can drive growth for Pradeep Metals Ltd. over the next 3-5 years include:
Infrastructure Development: Government and private sector investment in roads, railways, ports, power, and urban infrastructure.
"Make in India" Initiative: Increased domestic manufacturing activity across various industrial sectors boosting demand for capital goods and components.
Industrial Capital Expenditure Revival: A pickup in private sector Capex cycle, leading to expansion and modernization projects by client industries.
Export Opportunities: Leveraging cost competitiveness and quality to tap into global markets for specialized metal components and equipment.
Technological Upgrades & Customization: Demand for advanced, energy-efficient, or highly customized equipment and parts.
6. Risks
Economic Cyclicality: The industrial equipment sector is highly sensitive to economic downturns and fluctuations in client industry Capex.
Raw Material Price Volatility: Significant exposure to price changes in metals (steel, aluminum, alloys) and energy, which can impact profitability.
Intense Competition: The fragmented nature of the industry can lead to price wars and margin pressure.
Technological Obsolescence: Failure to invest in new manufacturing technologies or product development could erode competitiveness.
Client Concentration: Over-reliance on a few large clients could pose a risk if those relationships deteriorate or if client projects are delayed/cancelled.
Regulatory Changes: Changes in environmental, manufacturing, or import/export regulations could impact operations and costs.
7. Management & Ownership
Given the company name "Pradeep Metals Ltd." and common corporate structures in India, it is likely a promoter-driven company. "Pradeep" could refer to the founder or a prominent family member involved in its establishment and ongoing management. Ownership is typically concentrated with the promoter family or group, with a portion of shares potentially held by the public if listed on an exchange. Without specific information, a detailed assessment of management quality, experience, or corporate governance cannot be made.
8. Outlook
Pradeep Metals Ltd. operates in a sector poised to benefit from India's broad industrial growth and infrastructure push. The demand for specialized metal components and industrial equipment is expected to remain robust, driven by "Make in India" and domestic Capex. The company's ability to maintain high-quality standards, develop specialized products, and nurture strong customer relationships will be key to its success. However, the business remains susceptible to economic downturns, volatility in raw material prices, and intense competition. Its future performance will largely depend on navigating these cyclical challenges, continuous technological upgrades, and judicious expansion into profitable niches within the industrial equipment value chain.
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Market Cap ₹667 Cr.
Stock P/E 24.6
P/B 4.4
Current Price ₹386.4
Book Value ₹ 88.6
Face Value 10
52W High ₹410
Dividend Yield 0.65%
52W Low ₹ 205
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 68 | 79 | 71 | 74 | 79 | 87 | 78 | 86 | 84 | 91 |
| Other Income | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 0 | 1 | 1 |
| Total Income | 68 | 80 | 74 | 75 | 80 | 88 | 79 | 86 | 85 | 92 |
| Total Expenditure | 56 | 66 | 61 | 62 | 68 | 74 | 67 | 71 | 71 | 74 |
| Operating Profit | 13 | 14 | 13 | 12 | 12 | 14 | 12 | 15 | 13 | 18 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 8 | 10 | 9 | 8 | 8 | 10 | 7 | 10 | 9 | 13 |
| Provision for Tax | 2 | 2 | 2 | 2 | 1 | 3 | 2 | 3 | 2 | 3 |
| Profit After Tax | 7 | 8 | 7 | 6 | 7 | 7 | 6 | 7 | 7 | 10 |
| Adjustments | -0 | 0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 7 | 8 | 7 | 6 | 7 | 7 | 6 | 7 | 7 | 10 |
| Adjusted Earnings Per Share | 4 | 4.5 | 4 | 3.7 | 3.8 | 4.1 | 3.2 | 4.3 | 4.1 | 6 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 141 | 143 | 132 | 162 | 191 | 195 | 156 | 221 | 268 | 277 | 312 | 339 |
| Other Income | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 5 | 3 | 4 | 6 | 3 |
| Total Income | 143 | 145 | 133 | 164 | 193 | 197 | 158 | 225 | 270 | 280 | 318 | 342 |
| Total Expenditure | 123 | 132 | 121 | 143 | 164 | 167 | 131 | 187 | 222 | 235 | 265 | 283 |
| Operating Profit | 20 | 13 | 12 | 21 | 29 | 30 | 27 | 39 | 48 | 45 | 52 | 58 |
| Interest | 4 | 8 | 6 | 7 | 8 | 8 | 5 | 5 | 7 | 7 | 8 | 8 |
| Depreciation | 3 | 5 | 4 | 6 | 6 | 8 | 8 | 8 | 8 | 10 | 10 | 10 |
| Exceptional Income / Expenses | 0 | 0 | -2 | 0 | 0 | -3 | -3 | -1 | -1 | 0 | 0 | 0 |
| Profit Before Tax | 13 | 0 | -0 | 8 | 14 | 12 | 11 | 25 | 32 | 28 | 35 | 39 |
| Provision for Tax | 5 | 1 | 3 | 4 | 5 | 4 | 3 | 5 | 6 | 6 | 8 | 10 |
| Profit After Tax | 9 | -1 | -3 | 5 | 9 | 8 | 8 | 20 | 26 | 22 | 27 | 30 |
| Adjustments | -1 | 1 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 8 | 1 | 1 | 5 | 9 | 8 | 8 | 20 | 26 | 22 | 27 | 30 |
| Adjusted Earnings Per Share | 4.8 | 0.4 | 0.7 | 2.6 | 5.4 | 4.4 | 4.7 | 11.6 | 15.2 | 12.9 | 15.7 | 17.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 13% | 12% | 10% | 8% |
| Operating Profit CAGR | 16% | 10% | 12% | 10% |
| PAT CAGR | 23% | 11% | 28% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 59% | 33% | 55% | 22% |
| ROE Average | 22% | 25% | 24% | 17% |
| ROCE Average | 22% | 22% | 20% | 16% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 38 | 37 | 38 | 39 | 47 | 49 | 58 | 75 | 94 | 114 | 137 |
| Minority's Interest | 4 | 4 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 10 | 24 | 25 | 35 | 30 | 20 | 24 | 25 | 21 | 19 | 17 |
| Other Non-Current Liabilities | 4 | 6 | 7 | 7 | 7 | 6 | 4 | 4 | 4 | 5 | 6 |
| Total Current Liabilities | 102 | 85 | 97 | 82 | 95 | 90 | 69 | 89 | 90 | 102 | 107 |
| Total Liabilities | 158 | 156 | 168 | 164 | 180 | 165 | 155 | 194 | 209 | 240 | 267 |
| Fixed Assets | 47 | 59 | 62 | 62 | 61 | 68 | 59 | 70 | 72 | 86 | 100 |
| Other Non-Current Assets | 13 | 10 | 14 | 10 | 17 | 8 | 7 | 9 | 16 | 13 | 11 |
| Total Current Assets | 98 | 87 | 91 | 92 | 102 | 88 | 89 | 114 | 121 | 142 | 157 |
| Total Assets | 158 | 156 | 168 | 164 | 180 | 165 | 155 | 194 | 209 | 240 | 267 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 2 | 3 | 4 | 2 | 4 | 2 | 2 | 3 | 2 | 5 |
| Cash Flow from Operating Activities | 0 | 10 | 12 | 14 | 19 | 35 | 25 | 12 | 37 | 32 | 33 |
| Cash Flow from Investing Activities | -20 | -12 | -13 | -3 | -12 | -8 | -1 | -21 | -19 | -18 | -19 |
| Cash Flow from Financing Activities | 21 | 4 | 1 | -12 | -5 | -29 | -23 | 9 | -20 | -10 | -14 |
| Net Cash Inflow / Outflow | 2 | 1 | 0 | -2 | 2 | -2 | 0 | 1 | -2 | 3 | 0 |
| Closing Cash & Cash Equivalent | 2 | 3 | 4 | 2 | 4 | 2 | 2 | 3 | 2 | 5 | 5 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 4.8 | 0.43 | 0.67 | 2.62 | 5.41 | 4.44 | 4.68 | 11.57 | 15.19 | 12.9 | 15.73 |
| CEPS(Rs) | 6.75 | 2.3 | 0.99 | 6 | 9.03 | 8.81 | 9.16 | 16.03 | 20.1 | 18.52 | 21.35 |
| DPS(Rs) | 1.2 | 0.6 | 0 | 0 | 1 | 1 | 1 | 1.5 | 2 | 2 | 2.5 |
| Book NAV/Share(Rs) | 21.92 | 21.39 | 22 | 22.72 | 27.11 | 28.42 | 33.43 | 43.52 | 54.68 | 65.96 | 79.45 |
| Core EBITDA Margin(%) | 12.68 | 7.29 | 7.79 | 11.43 | 14.4 | 14.52 | 15.71 | 15.53 | 17.14 | 14.99 | 14.95 |
| EBIT Margin(%) | 12.2 | 5.52 | 4.6 | 9.37 | 11.69 | 9.94 | 10.12 | 13.49 | 14.53 | 12.83 | 13.67 |
| Pre Tax Margin(%) | 9.28 | 0.26 | -0.1 | 4.95 | 7.41 | 6.03 | 7.21 | 11.28 | 12.08 | 10.21 | 11.18 |
| PAT Margin (%) | 6.16 | -0.48 | -2.04 | 2.78 | 4.88 | 3.92 | 5.18 | 9.05 | 9.79 | 8.05 | 8.71 |
| Cash Profit Margin (%) | 8.04 | 2.72 | 1.25 | 6.35 | 8.15 | 7.79 | 10.14 | 12.54 | 12.96 | 11.56 | 11.82 |
| ROA(%) | 6.84 | -0.44 | -1.72 | 2.73 | 5.42 | 4.44 | 5.06 | 11.46 | 13.03 | 9.93 | 10.71 |
| ROE(%) | 25.01 | -1.86 | -7.42 | 11.73 | 21.7 | 15.98 | 15.13 | 30.06 | 30.93 | 21.39 | 21.64 |
| ROCE(%) | 18.64 | 6.93 | 4.91 | 11.6 | 16.26 | 14 | 12.37 | 21.51 | 24.11 | 20.11 | 21.69 |
| Receivable days | 91.25 | 95.67 | 103.05 | 96.25 | 83.41 | 80.75 | 96.96 | 76.72 | 71.6 | 79.29 | 83.67 |
| Inventory Days | 97.54 | 100.7 | 96.69 | 80.91 | 76.9 | 77.3 | 91.21 | 74.08 | 74.75 | 78.95 | 74.52 |
| Payable days | 101.94 | 111.69 | 99.34 | 93.84 | 74.64 | 63.69 | 87.58 | 77.78 | 77.77 | 90.53 | 102.8 |
| PER(x) | 9.83 | 112.86 | 98.92 | 34.97 | 12.93 | 9.09 | 7.59 | 7.84 | 11.38 | 16.66 | 14.96 |
| Price/Book(x) | 2.15 | 2.29 | 3 | 4.04 | 2.58 | 1.42 | 1.06 | 2.08 | 3.16 | 3.26 | 2.96 |
| Dividend Yield(%) | 2.55 | 1.22 | 0 | 0 | 1.43 | 2.48 | 2.82 | 1.65 | 1.16 | 0.93 | 1.06 |
| EV/Net Sales(x) | 1.07 | 1.18 | 1.54 | 1.54 | 1.11 | 0.78 | 0.78 | 1.06 | 1.38 | 1.58 | 1.51 |
| EV/Core EBITDA(x) | 7.41 | 13.12 | 16.53 | 11.79 | 7.44 | 5 | 4.6 | 6.01 | 7.62 | 9.69 | 9 |
| Net Sales Growth(%) | 25.15 | 1.03 | -7.58 | 23 | 18.17 | 1.98 | -20.1 | 41.54 | 21.3 | 3.3 | 12.72 |
| EBIT Growth(%) | 46.64 | -54.22 | -22.7 | 144.11 | 46.62 | -13.31 | -18.64 | 88.65 | 30.61 | -8.74 | 20.08 |
| PAT Growth(%) | 56.62 | -107.8 | -298.84 | 263.02 | 106.12 | -17.94 | 5.5 | 147.14 | 31.31 | -15.04 | 21.94 |
| EPS Growth(%) | 45.34 | -90.95 | 53.67 | 293.07 | 106.12 | -17.94 | 5.5 | 147.14 | 31.31 | -15.04 | 21.94 |
| Debt/Equity(x) | 1.91 | 2.35 | 2.46 | 2.36 | 2.06 | 1.73 | 1.1 | 1.07 | 0.77 | 0.63 | 0.51 |
| Current Ratio(x) | 0.96 | 1.02 | 0.94 | 1.12 | 1.06 | 0.98 | 1.29 | 1.28 | 1.35 | 1.38 | 1.47 |
| Quick Ratio(x) | 0.54 | 0.57 | 0.59 | 0.66 | 0.62 | 0.54 | 0.74 | 0.7 | 0.7 | 0.78 | 0.86 |
| Interest Cover(x) | 4.18 | 1.05 | 0.98 | 2.12 | 2.73 | 2.54 | 3.47 | 6.09 | 5.93 | 4.89 | 5.48 |
| Total Debt/Mcap(x) | 0.89 | 1.03 | 0.82 | 0.59 | 0.8 | 1.22 | 1.04 | 0.51 | 0.24 | 0.19 | 0.17 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 | 73.48 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.08 |
| Public | 26.52 | 26.52 | 26.52 | 26.52 | 26.52 | 26.52 | 26.52 | 26.52 | 26.52 | 26.43 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 | 1.73 |
* The pros and cons are machine generated.
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