WEBSITE BSE:523874 NSE: EASTINDIA Inc. Year: 1981 Industry: Steel & Iron Products My Bucket: Add Stock
Last updated: 10:39
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1. Business Overview
East India Drums And Barrels Manufacturing Ltd. (EASTINDIA) is an Indian company operating in the Steel & Iron Products sector. Its core business involves the manufacturing and sale of steel drums and barrels. These products serve as essential packaging solutions for a wide range of industries, including chemicals, petrochemicals, food processing, pharmaceuticals, oil & gas, and various other manufacturing sectors that require robust containers for storage and transportation of liquids, powders, and solids. The company's business model is primarily B2B, generating revenue by supplying these industrial packaging products to corporate clients.
2. Key Segments / Revenue Mix
Without specific financial data, the primary revenue stream for East India Drums And Barrels Manufacturing Ltd. is derived from the sale of steel drums and barrels. Potential internal segments could include:
Standard Drums & Barrels: Regular sizes and specifications for general industrial use.
Specialized Packaging: Drums and barrels designed for specific requirements, such as UN-certified packaging for hazardous materials, food-grade coatings, or customized dimensions.
Ancillary Services: Potentially includes customization, branding, or logistics support for its products.
Specific contribution percentages for these internal categories are not available.
3. Industry & Positioning
The company operates within the Indian steel packaging industry, which is characterized by its foundational role in the industrial supply chain. This industry is typically B2B focused and driven by the growth of end-user manufacturing sectors. It is generally competitive, with a mix of organized national players and smaller, regional manufacturers. East India Drums And Barrels Manufacturing Ltd. positions itself as a supplier of steel drums and barrels within this landscape, competing on factors such as product quality, manufacturing efficiency, delivery timelines, and pricing. Its performance is closely tied to the overall health and expansion of the Indian manufacturing and industrial sectors.
4. Competitive Advantage (Moat)
Given the nature of the business, potential competitive advantages for East India Drums And Barrels Manufacturing Ltd. could include:
Scale & Cost Efficiency: Ability to procure raw steel in bulk and optimize manufacturing processes to achieve lower production costs per unit.
Established Customer Relationships: Long-standing supply agreements and strong relationships with key industrial clients, leading to recurring orders and higher switching costs for customers.
Distribution Network: An efficient and widespread logistics network across India to ensure timely delivery, particularly important for just-in-time inventory management by customers.
Product Specialization/Quality: Expertise in manufacturing specialized drums (e.g., UN-certified, specific coatings) that meet stringent industry standards, differentiating it from general manufacturers.
Brand Reputation: A reputation for reliability and quality built over time within the industrial packaging sector.
Operational Efficiency: Continuous improvement in manufacturing processes and waste reduction leading to better margins.
5. Growth Drivers
Key factors that can drive growth for East India Drums And Barrels Manufacturing Ltd. over the next 3-5 years include:
Indian Economic Growth: Sustained economic growth in India, particularly in the manufacturing, industrial, and infrastructure sectors, directly increases demand for industrial packaging.
Expansion of End-User Industries: Growth in critical sectors such as chemicals, petrochemicals, food processing, pharmaceuticals, and oil & gas, which are major consumers of steel drums and barrels.
Capacity Expansion & Modernization: Investment in increasing manufacturing capacity or upgrading technology to meet growing demand and improve efficiency.
Product Diversification: Introducing new types of barrels, specialized coatings, or value-added services to cater to emerging needs or niche markets.
Market Share Gains: Capturing a larger share of the existing market through competitive pricing, superior quality, or enhanced customer service.
Geographical Expansion: Expanding distribution and sales networks into new regions within India to tap into undeveloped markets.
6. Risks
Raw Material Price Volatility: Significant fluctuations in the price of steel, a primary raw material, can directly impact production costs and profit margins.
Intense Competition: The industry can be fragmented and competitive, leading to pricing pressures and potential erosion of market share.
Substitution Risk: The emergence of alternative packaging solutions (e.g., plastic drums, intermediate bulk containers (IBCs), flexi-tanks) could reduce demand for steel barrels in certain applications.
Economic Downturn: A slowdown in the Indian economy or specific end-user industries can significantly reduce demand for industrial packaging.
Regulatory Changes: Stricter environmental, safety, or import/export regulations for industrial packaging could increase compliance costs.
Working Capital Management: High working capital requirements due to inventory holding and extended credit periods to customers can impact liquidity.
7. Management & Ownership
Without specific details, East India Drums And Barrels Manufacturing Ltd. is likely driven by a promoter group, typical of many Indian manufacturing companies. The quality of management would depend on their experience in the steel products and industrial packaging sector, their strategic vision, operational efficiency, and ability to navigate raw material price volatility and competitive pressures. The ownership structure would typically involve a significant stake held by the promoter family/group, alongside institutional investors and a public float, as it is a publicly listed company (EASTINDIA).
8. Outlook
East India Drums And Barrels Manufacturing Ltd. operates in a fundamental but cyclical industry in India. The company's prospects are closely tied to the broader economic growth trajectory of the country, particularly the health and expansion of its manufacturing and industrial sectors.
Bull Case: A robust expansion of India's manufacturing base, coupled with stable steel prices and effective cost management, could drive consistent demand for its products. Strategic investments in capacity expansion or product specialization could further enhance its market position and profitability.
Bear Case: Significant volatility in steel prices, an economic slowdown impacting key end-user industries, or intense competition leading to margin compression could pose challenges. The threat from alternative packaging materials or failure to adapt to evolving industry standards could also negatively impact performance.
Overall, the company is positioned to benefit from India's industrial growth, but its success hinges on its ability to manage raw material costs, maintain strong customer relationships, innovate in product offerings, and navigate a competitive landscape with operational efficiency.
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Market Cap ₹143 Cr.
Stock P/E 39.8
P/B 6.7
Current Price ₹97
Book Value ₹ 14.5
Face Value 10
52W High ₹148
Dividend Yield 0%
52W Low ₹ 46.2
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 56 | 83 | 66 | 66 | 66 | 66 | 57 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 0 | 0 | 0 | 56 | 83 | 67 | 66 | 66 | 67 | 57 |
| Total Expenditure | 0 | 0 | 0 | 53 | 78 | 64 | 62 | 61 | 62 | 52 |
| Operating Profit | -0 | -0 | -0 | 3 | 5 | 3 | 4 | 5 | 5 | 5 |
| Interest | 0 | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | 15 | 1 | 2 | 0 | 1 | 2 | 2 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 1 | -1 | 0 | 1 | -0 | 1 |
| Profit After Tax | -0 | -0 | 15 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | -0 | -0 | 15 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Adjusted Earnings Per Share | -0 | -0 | 190.6 | 0.6 | 0.6 | 0.7 | 0.6 | 0.9 | 1.1 | 0.7 |
| #(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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 271 | 255 |
| Other Income | 1 | 3 | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Total Income | 1 | 3 | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 272 | 256 |
| Total Expenditure | 1 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 257 | 237 |
| Operating Profit | 1 | -2 | -0 | 5 | 0 | -0 | -0 | 0 | -0 | -0 | 15 | 19 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 8 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 |
| Profit Before Tax | -0 | -2 | -0 | 5 | -0 | -0 | -0 | -0 | -0 | 15 | 4 | 7 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Profit After Tax | -0 | -2 | -0 | 5 | -0 | -0 | -0 | -0 | -0 | 15 | 4 | 5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -2 | -0 | 5 | -0 | -0 | -0 | -0 | -0 | 15 | 4 | 5 |
| Adjusted Earnings Per Share | -0 | -0.7 | -0 | 2.1 | -0 | -0.1 | -0.1 | -0.1 | -0.1 | 187.5 | 2.4 | 3.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 31% |
| PAT CAGR | -73% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 110% | 296% | 216% | 65% |
| ROE Average | 53% | 18% | 11% | 5% |
| ROCE Average | 35% | 12% | 6% | 8% |
| #(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 | -21 | -23 | -24 | -19 | -19 | -19 | -19 | -20 | -20 | -5 | 19 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 28 | 27 | 26 | 21 | 21 | 20 | 20 | 0 | 0 | 1 | 21 |
| Other Non-Current Liabilities | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Total Current Liabilities | 2 | 2 | 3 | 4 | 4 | 2 | 2 | 20 | 20 | 6 | 88 |
| Total Liabilities | 10 | 6 | 6 | 6 | 6 | 3 | 2 | 0 | 1 | 1 | 133 |
| Fixed Assets | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 35 |
| Other Non-Current Assets | 3 | 1 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| Total Current Assets | 6 | 5 | 0 | 0 | 5 | 2 | 2 | 0 | 0 | 1 | 85 |
| Total Assets | 10 | 6 | 6 | 6 | 6 | 3 | 2 | 0 | 1 | 1 | 133 |
| #(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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Cash Flow from Operating Activities | 26 | -3 | -0 | 4 | -0 | 2 | 0 | -0 | 0 | 14 | 25 |
| Cash Flow from Investing Activities | 2 | 5 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | -7 |
| Cash Flow from Financing Activities | -28 | -2 | 0 | -5 | -0 | -2 | -0 | -2 | 0 | -14 | 2 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | 20 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 |
| # | 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) | -0.05 | -0.72 | -0.04 | 2.1 | -0.01 | -0.11 | -0.06 | -0.08 | -0.09 | 187.48 | 2.44 |
| CEPS(Rs) | 0.35 | -0.7 | -0.02 | 2.11 | 0.01 | -0.09 | -0.05 | -0.07 | -0.08 | 187.93 | 4.71 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -9.57 | -10.28 | -10.51 | -8.44 | -8.48 | -8.57 | -8.65 | -8.74 | -8.84 | -68.08 | 12.82 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 0 | -1758.33 | -7221.43 | 0 | 0 | 0 | 0 | 4.53 |
| EBIT Margin(%) | 0 | 0 | 0 | 0 | -86.9 | -5678.57 | 0 | 0 | 0 | 0 | 3.78 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0 | -177.38 | -5704.76 | 0 | 0 | 0 | 0 | 1.27 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | -177.38 | -5704.76 | 0 | 0 | 0 | 0 | 1.13 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0 | 271.43 | -4785.71 | 0 | 0 | 0 | 0 | 2.18 |
| ROA(%) | -0.46 | -19.64 | -1.46 | 80.46 | -0.26 | -5.58 | -5.04 | -13.14 | -42.98 | 1933.36 | 5.38 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52.69 |
| ROCE(%) | -0.44 | -22.72 | -1.36 | 86.16 | -0.14 | -5.98 | -5.52 | 0 | 0 | 0 | 34.57 |
| Receivable days | 0 | 0 | 0 | 0 | 1933.63 | 1299.23 | 0 | 0 | 0 | 0 | 37.2 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.68 |
| Payable days | 0 | 0 | 0 | 0 | 5096.96 | 9396.52 | 0 | 0 | 0 | 0 | 45.95 |
| PER(x) | 0 | 0 | 0 | 0.16 | 0 | 0 | 0 | 0 | 0 | 0 | 10.57 |
| Price/Book(x) | -0.17 | -0.09 | -0.04 | -0.04 | -0.02 | -0.02 | -0.03 | -0.05 | -0.13 | 0 | 2.01 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0 | 2922.06 | 5314.69 | 0 | 0 | 0 | 0 | 0.24 |
| EV/Core EBITDA(x) | 41.82 | -19.9 | -758.93 | 5.29 | 807.41 | -111.66 | -218.49 | 148.33 | -96.39 | -4.25 | 4.25 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0 | -50 | -100 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | -107.69 | -1529.52 | 95.14 | 6191.96 | -100.16 | -3167.12 | 41.97 | 148.92 | -410.19 | 7011.86 | -16.76 |
| PAT Growth(%) | -115.51 | -1341.2 | 94.45 | 5356.5 | -100.32 | -1508.05 | 41.94 | -36.66 | -10.47 | 7011.76 | -75.19 |
| EPS Growth(%) | -115.5 | -1341.77 | 94.45 | 5356.57 | -100.32 | -1498.51 | 41.92 | -36.5 | -10.48 | 0 | -98.7 |
| Debt/Equity(x) | -1.38 | -1.25 | -1.23 | -1.29 | -1.27 | -1.15 | -1.11 | -0.74 | -0.73 | -0.14 | 2.93 |
| Current Ratio(x) | 3.32 | 2.08 | 0.05 | 0.06 | 1.34 | 0.99 | 0.94 | 0.01 | 0.01 | 0.14 | 0.97 |
| Quick Ratio(x) | 3.32 | 2.08 | 0.05 | 0.06 | 1.34 | 0.99 | 0.94 | 0.01 | 0.01 | 0.14 | 0.84 |
| Interest Cover(x) | -6.89 | -77.97 | -6.37 | 579.86 | -0.96 | -216.82 | -197.71 | 0.26 | 0 | 0 | 1.51 |
| Total Debt/Mcap(x) | 8.24 | 14.66 | 31.61 | 31.96 | 56.75 | 46.82 | 33.22 | 14.02 | 5.66 | 0 | 1.46 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 13.52 | 13.52 | 94.76 | 94.76 | 94.76 | 94.76 | 94.76 | 94.76 | 94.76 | 94.68 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.9 | 0.9 | 0.05 | 0.05 | 0.05 | 0 | 0 | 0 | 0 | 0 |
| Public | 85.58 | 85.58 | 5.19 | 5.19 | 5.19 | 5.24 | 5.24 | 5.24 | 5.24 | 5.32 |
| 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 | 0.3 | 0.3 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.02 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.92 | 1.92 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.24 | 2.24 | 1.48 | 1.48 | 1.48 | 1.48 | 1.48 | 1.48 | 1.48 | 1.48 |
* The pros and cons are machine generated.
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