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Universal Cables

₹583.1 35.3 | 6.5%

Market Cap ₹2023 Cr.

Stock P/E 20.1

P/B 1.2

Current Price ₹583.1

Book Value ₹ 482.6

Face Value 10

52W High ₹609

Dividend Yield 0.51%

52W Low ₹ 350

Universal Cables Research see more...

Overview Inc. Year: 1945Industry: Cable

Universal Cables Ltd is engaged in the manufacturing, and sale of electrical and other cables, capacitors, conductors and others. The Company offers power cables, along with extra high voltage (EHV), medium voltage (MV), low voltage (LV) energy and manage cables, and light duty wires and cables for winding wires, flat cables and flexible cables. The Company's product portfolio for capacitor division incorporates low tension (LT) and high tension (HT) capacitors for over 130 kilovolts (kV) Class and also automatic switched capacitors for about 11kV Class. The Company has a product portfolio for the speciality cables and caters to the original equipment producers (OEMs) and the infrastructural segment, along with the railways, metal plants, petro-chemicals plants, cement plants, onshore and offshore oil ring manufacturers, ship building, heavy engineering and mining industries. In the LV section, the Company manufactures various polypropylene (PP) capacitors.

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Universal Cables Share Price

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Peer Comparison

Universal Cables 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 451 490 594 514 514 591 583 479 494 467
Other Income 10 2 3 3 9 4 1 3 13 5
Total Income 462 492 598 517 523 595 584 483 507 472
Total Expenditure 436 460 546 470 468 548 531 443 471 426
Operating Profit 26 32 51 48 55 47 53 40 36 46
Interest 17 20 25 22 24 24 27 21 22 24
Depreciation 6 6 6 6 6 6 6 6 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 7 21 20 25 18 20 13 8 15
Provision for Tax 2 4 10 8 6 6 13 8 2 9
Profit After Tax 1 2 11 12 20 11 7 5 6 6
Adjustments 7 11 20 15 6 13 34 19 6 18
Profit After Adjustments 8 14 31 27 26 24 41 24 12 24
Adjusted Earnings Per Share 2.4 3.9 9 7.7 7.5 7 11.8 6.9 3.4 6.9

Universal Cables Profit & Loss

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 818 1181 1417 1569 1281 1814 2202 2023
Other Income 11 11 12 15 13 19 18 22
Total Income 829 1192 1429 1584 1294 1833 2220 2046
Total Expenditure 743 1074 1242 1403 1190 1691 2017 1871
Operating Profit 86 118 187 181 104 142 203 175
Interest 44 53 62 77 63 78 97 94
Depreciation 19 21 21 23 26 24 22 24
Exceptional Income / Expenses 0 0 0 0 0 0 0 0
Profit Before Tax 65 84 170 147 90 99 152 56
Provision for Tax -6 2 34 57 22 24 33 32
Profit After Tax 70 83 136 90 67 75 118 24
Adjustments 0 0 0 0 0 0 0 77
Profit After Adjustments 70 83 136 90 67 75 118 101
Adjusted Earnings Per Share 20.3 23.8 39.2 26 19.4 21.6 34.1 29

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 12% 13% 0%
Operating Profit CAGR 43% 4% 11% 0%
PAT CAGR 57% 9% 7% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 45% 55% 23% 35%
ROE Average 8% 7% 9% 10%
ROCE Average 12% 10% 13% 12%

Universal Cables Balance Sheet

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 681 835 999 990 1136 1295 1497
Minority's Interest 0 0 0 0 0 0 0
Borrowings 123 118 148 115 87 235 240
Other Non-Current Liabilities 8 12 29 198 235 267 292
Total Current Liabilities 331 563 675 879 893 961 782
Total Liabilities 1144 1527 1851 2183 2351 2758 2810
Fixed Assets 121 109 129 147 162 143 138
Other Non-Current Assets 538 676 780 901 1058 1259 1407
Total Current Assets 485 743 942 1135 1130 1356 1265
Total Assets 1144 1527 1851 2183 2351 2758 2810

Universal Cables Cash Flow

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 5 2 4 2 2 4 1
Cash Flow from Operating Activities 70 -42 -59 38 90 -12 143
Cash Flow from Investing Activities -13 -18 -27 -42 -16 -7 -15
Cash Flow from Financing Activities -61 62 84 4 -72 16 -127
Net Cash Inflow / Outflow -3 2 -1 -0 2 -3 0
Closing Cash & Cash Equivalent 2 4 2 2 4 1 2

Universal Cables Ratios

# Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 20.32 23.83 39.16 25.96 19.38 21.6 34.05
CEPS(Rs) 25.76 29.86 45.32 32.46 26.97 28.62 40.53
DPS(Rs) 0 1.5 2 2 1 1.5 3
Book NAV/Share(Rs) 196.37 222.45 269.86 285.39 327.33 373.19 431.36
Core EBITDA Margin(%) 8.39 8.86 12.33 10.58 7.09 6.78 8.42
EBIT Margin(%) 12.09 11.42 16.39 14.28 11.9 9.72 11.3
Pre Tax Margin(%) 7.19 6.99 12.01 9.36 6.99 5.43 6.88
PAT Margin (%) 7.85 6.85 9.59 5.74 5.25 4.13 5.37
Cash Profit Margin (%) 9.95 8.58 11.1 7.18 7.31 5.47 6.39
ROA(%) 6.16 6.19 8.04 4.47 2.97 2.93 4.24
ROE(%) 10.35 11.38 15.91 9.35 6.32 6.17 8.47
ROCE(%) 11.2 12.91 17.57 14.51 9.08 9.44 12.02
Receivable days 126.92 124.87 144.44 163.98 228.78 178.2 153.96
Inventory Days 56.04 45.92 55.2 61.59 75.13 56.48 48.17
Payable days 94.4 89.07 98.89 94.63 124.3 100.76 80.78
PER(x) 4.99 5.46 5.63 3.14 7.03 6.4 10.56
Price/Book(x) 0.52 0.59 0.82 0.29 0.42 0.37 0.83
Dividend Yield(%) 0 1.15 0.91 2.45 0.73 1.09 0.83
EV/Net Sales(x) 0.78 0.71 0.92 0.57 0.84 0.64 0.86
EV/Core EBITDA(x) 7.38 7.1 6.97 4.97 10.31 8.21 9.36
Net Sales Growth(%) 0 44.33 19.95 10.76 -18.37 41.61 21.42
EBIT Growth(%) 0 105.09 68.43 -3.48 -3.76 15.67 41.2
PAT Growth(%) 0 184.12 64.29 -33.7 175.74 11.45 57.69
EPS Growth(%) 0 17.32 64.29 -33.7 -25.37 11.45 57.69
Debt/Equity(x) 0.42 0.51 0.58 0.63 0.54 0.54 0.44
Current Ratio(x) 1.46 1.32 1.4 1.29 1.27 1.41 1.62
Quick Ratio(x) 1.05 1.02 1.01 0.99 0.97 1.1 1.26
Interest Cover(x) 2.47 2.58 3.74 2.9 2.43 2.27 2.56
Total Debt/Mcap(x) 0.82 0.87 0.71 2.19 1.29 1.45 0.53

Universal Cables Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 61.89 61.89 61.89 61.89 61.89 61.89 61.89 61.89 61.89 61.89
FII 0.01 0.03 0 0.11 0.35 0.36 0.35 0.31 0.34 0.3
DII 1.94 1.94 2.04 2.05 2.4 2.55 2.47 3.01 5.25 6.18
Public 36.16 36.14 36.07 35.95 35.36 35.2 35.28 34.8 32.51 31.63
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 100.76 to 80.78days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7% over the last 3 years.
  • The company has delivered a poor profit growth of 7% 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.

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